State-run Oman Petroleum Company (PDO) is planning to award $1.04 billion worth of contracts for work in its oilfields before the end of this year, a company official said on Tuesday.

'We are processing the tenders submitted for various oilfields contracts, including oil drilling and gas supply,' the PDO official, who declined to be named, told Reuters.

The total contracts to be awarded by end of this year will be worth about RO400 million ($1.17billion),' the official added.-Reuters