MUSCAT – According to Dr. Saleh bin Ali Al Anbouri, Director General of Exploration and Production at the Ministry, all companies operating in producing concession areas are actively balancing output with reserve replacement efforts throughout the year.
In a statement to the Oman News Agency, he explained that the Sultanate of Oman’s average production of crude oil and condensates in 2024 amounted to approximately 993,000 barrels per day, while natural gas production amounted to approximately 149 million cubic meters per day, reflecting stable supplies over the past years.
He pointed out that the Ministry is is actively marketing a number of open concession areas to attract local and international investments. These efforts are aligned with market dynamics and global initiatives such as OPEC+ to maintain stability in the energy sector.
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Dr. Al Anbouri further stated that the ministry is currently focusing on offshore exploration, which is seen as a promising area for future production growth. By integrating advanced technologies and innovative development strategies, the Ministry aims to sustain and potentially increase Oman’s hydrocarbon reserves in the coming years.
He noted that Oman’s energy investment environment remains attractive, with strong interest from international and local companies. In 2024, the Ministry signed three petroleum agreements for blocks 38, 74, and 15.
Highlighting the continued emphasis on exploration, Dr. Al Anbouri revealed that 73 exploratory and appraisal wells were drilled in 2024, including 54 oil wells and 19 gas wells. Among these, Petroleum Development Oman (PDO) contributed significantly, drilling 24 oil wells and 9 gas wells as part of its annual plan.
As of the end of 2024, Oman’s crude oil and condensate reserves stood at approximately 4.825 billion barrels, while natural gas reserves rose to 23.3 trillion cubic feet, reflecting the success of ongoing efforts to offset production and achieve long-term resource sustainability.
Dr. Al Anbouri affirmed that the Ministry is continuing its efforts of achieving 100 percent reserve replacement rate, supported by expanded exploration, enhanced recovery technologies such as steam and polymer injection, and the creation of a favourable investment climate to ensure a resilient and sustainable future for Oman’s energy sector.
