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EconomicTimes.IndiaTimes.com: Oman Shell affiliate sees ’08 oil output down again

11 Feb, 2008, 1227 hrs IST, REUTERS
 
DUBAI: Royal Dutch Shell affiliate Petroleum Development Oman, which pumps about 90 per cent of Oman’s oil, said 2008 output will fall for an eighth year to less than 560,000 barrels per day as fields age.

State-controlled PDO, in which Shell has a 34 per cent stake, aims to produce between 540,000 bpd and 560,000 bpd this year, it said in a statement on Monday. That compares with actual production last year of 561,000 bpd and a 2007 target range of between 560,000 bpd and 570,000 bpd, PDO said.

For a few years after 2008, production will average about 550,000 bpd, the company said. PDO output has fallen since 2000 when it peaked at 840,000 bpd, according to PDO’s Web site. The company said it made a “significant” oil discovery at Budour Northeast, and had tested a well at 5,800 bpd.  

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