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Oil and Gas sector operating at over eighty percent Omanisation levels

Atheer – Mohammed Al Araimi

His Excellency Salim Al Aufi, Undersecretary of the Ministry of Oil and Gas, has revealed that the average price of Oman oil in 2017 was 51.30 US dollars per barrel.

This came at the annual Ministry of Oil and Gas media conference, for which Atheer was in attendance. The highest price of Oman oil was 55.60 US Dollars and the lowest was 44.50 US Dollars per barrel.

Al Aufi added that the number of oil fields in the Sultanate last year exceeded 280.

The rate of export and domestic consumption of oil and condensates in 2017 amounted to around 355 million barrels, seventeen percent of which was for domestic consumption and the remaining 83 percent for export.

China was the highest importer of Omani oil, importing 77 percent, followed by India at ten percent, Japan at four percent and South Korea at three percent.

Al Aufi added that the export and domestic consumption of gas in 2017 amounted to approximately 41 billion cubic metres, 68 percent of which was for domestic consumption, while 32 percent was exported.

It was revealed that oil and gas production costs last year amounted to 14.8 million US Dollars.

With regards to Omanisation, by the end of 2017, 81 percent of employees in the oil and gas sector were Omani nationals.

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