E&P

Petroleum Development Oman (PDO) has stated that the firm aims to produce 1.1 million barrels of oil equivalent (BOE) per day this year.

Royal Dutch Shell and Petronas have awarded a contract worth more than US$60mn to Turkish firm Enka to install and operate two production facilities at the Majnoon oilfield.

Arab refineries have boosted production by nearly 633,000 barrels per day (bpd) over the past four years as they are pushing ahead with projects to expand capacity to meet growing domestic consumption and external demand.

Statoil expects to raise production from around 1.9mn bpd of oil equivalent in 2010 to more than 2.5 million boepd in 2020.