Oil and Gas News

PDO discovers more oil

Petroleum Development Oman (PDO) is pleased to announce that it has discovered significant new volumes of oil at the Budour Northeast oil field, which was itself discovered only last year. In addition, the Company may also have found a significant volume of oil in a rock formation at the Rabab-Southeast field. Both fields are located in the south of the country, near the Birba field.
The new discovery at the Budour Northeast field was revealed by Buduor NE-2, a well drilled in 2007 to follow up the field’s original discovery well, Budour NE-1. It consists of a reservoir lying below the one tapped by the Budour NE-1. When tested, Budour NE-2 produced as much as 5800 barrels of oil per day. Both Budour NE wells – as well as a third drilled in the same area – have been hooked up to PDO’s pipeline infrastructure, thereby contributing to the Company’s production.
The oil at Rabab-Southeast was discovered by an exploration well, which is still being tested. The results of the well test still remain to be evaluated.
“The discovery of these reservoirs goes a long way towards realising PDO’s aspiration of replacing produced volumes in any give year with new reserves,” commented PDO’s Managing Director John Malcolm.
PDO’s Exploration Director Martin Stäuble added: “The year 2007 turned out to be an excellent exploration year. In fact, it was the best year for oil exploration since 1994. And I can say that good exploration results are continuing into 2008. We are getting some very encouraging preliminary data from our exploration wells in north Oman. But these results need to be confirmed through well testing.”
Note to editors:
Petroleum Development Oman (PDO) is the major exploration and production company in the Sultanate. It accounts for about 80% of the country’s oil production and nearly all of its natural-gas supply. The Company is owned by the Government of Oman (which has a 60% interest), the Shell Group (which has a 34% interest), Total (which has a 4% interest) and Partex (which has a 2% interest). Gas fields and processing plants are operated by PDO exclusively on behalf of the Omani Government.
For further information please contact the PDO External Affairs & Communications Department:
Ahmed al Sawaei Tel: 2467-5635; E-mail: ahmed.sawaei@pdo.co.om
or
Gregory Greenwell Tel: 2467-5370; E-mail: gregory.r.greenwell@pdo.co.om

Issued by the External Affairs & Communications Department

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Tags: oman