A good year for PDO

State-controlled Petroleum Development Oman (PDO) admits it had a difficult year in 1999, with low oil prices and budget constraints affecting production. However, most targets were fully or nearly-fully met, including those covering reserves additions and production. Cost-cutting programmes were also implemented.

Production problems at PDO's Yabal field meant the company just missed its 1999 production target of 835,000 barrels a day (b/d) for an average of 832,000 b/d. New discoveries and appraisals and improved recovery rates from existing fields saw PDO's reserves base grow by 130m barrels, after allowing for 1999 production of 310m barrels. Reserves are currently at their highest-ever level at 5.5bn barrels and include the significant Ghafeer discovery, which is estimated to add 60m barrels. New discoveries, successful appraisal wells and improvements to established fields added 440m barrels of oil and condensate reserves last year. Ghafeer has also raised the prospect of similar finds in the Car