DNO investment in offshore Oman tops $100m
, 5 days ago
DNO, a Norway-based oil and gas company, has invested more than $100 million in Oman’s Block 8 since started operations of the concession offshore Musandam peninsula in 2012, a report said.
Block 8 is home to the Bukha and West Bukha fields, currently Oman’s only offshore producing assets, reported Oman Observer.
Produced volumes from the block averaged 5,325 barrels of oil equivalent per day (boepd) in 2016 split roughly equally between oil and gas. Output has been on the decline in recent years, slumping to 8,193 boepd in 2015, down from 15,678 boepd in 2014, the report said.
DNO has since rolled out a drilling campaign for the current year, designed to bolster output from the block. “In early 2017, DNO spudded the West Bukha-5 sidetrack well, and in addition the company is planning the reinstatement of the Bukha-1 subsea well in order to double production from the block by the end of 2017,” it stated in an overview of its 2016 operational performance.