Mubasher: The Omani government said on Thursday that it continues to invest in drilling and exploration projects in oil and gas through a number of strategic ventures that aim to boost the two sectors’ contribution to the gross domestic product (GDP) in the next five-year plan.
Oil and Gas Minister Mohammed bin Hamad Al Rumhi asserted that Oman’s oil reserves are adequate for many decades in terms of the continuity of oil production, as the current figures showed the extract ability reached 7% of the total general reserve, according to the Omani News Agency.
The government spending on exploration is expected to reach about OMR 407.1 million by 2015.
Meanwhile, based on a program to develop and expand its gas facilities and installations, the government is predicted to provide for real expenditures estimated at around OMR 2.160 billion.
Al Rumhi added that gas purchases hit about OMR 305 million during the eighth five-year plan, expecting a real spending on gas transportation services provided by Oman Gas Company, to reach OMR 164.8 million by the end of 2015.
