Oman’s natural gas production level is expected to exceed that of crude oil level 2030, due to the sultanate’s gas field developments, according to Rystad Energy, Pipeline Oil and Gas Magazine reported.
“Amidst rising global liquefied natural gas (LNG) demand and the increasingly lucrative domestic gas market, international players are favoring gas developments in Oman. The strengthened gas market will help gas production levels to outshine Oman’s dwindling oil production, with gas output projected to overtake oil by 2023,” Rystad Energy analyst Aditya Saraswat said.
Oman’s oil production declined in 2018, reaching 870,000 barrels per day (b/d) from its peak in 2016 at 900,000 b/d. Rystad expects that by 2025 oil production will further decrease by 200,000 b/d.
However, efforts to increase oil output were not enough to stabilize production levels. That is why Oman is more focused on gas developments to achieve a production capacity of 130 million cubic meters per day (mcm/d) by 2025.