Oman anticipates growing its oil production quantity to 1.1 million barrels per day (bpd) by 2022, from this year’s total of 970,000 bpd.
According to reports, “We also assume that gas production will expand, with new production coming on stream from the Khazzan II field in 2021 and the Mabrouk field in the medium term, beyond our forecast horizon. Higher gas production will in turn support the expansion of petrochemicals, power generation, and enhanced oil recovery projects.”
Despite these plans for expansion, negative effects will also be present in the process. These effects will include extrinsic debt and excessive funding costs between 2019-22.