Oman pumped nearly 894,000 barrels per day of oil in December as the Gulf country is pushing ahead with plans to raise its crude output capacity following a decline over the past years, official data showed on Saturday.
The level was nearly seven per cent higher than the November production and more than 100,000 bpd higher than the output two years ago.
Oil exports by the non-OPEC country stood at around 753,453 bpd in December and China maintained its position as the largest importer of Omani oil, accounting for almost half the country’s total crude exports, showed the figures by the Omani oil ministry.
Japan imported nearly 10.8 per cent of Oman’s oil sales while South Korea accounted for about 9.2 per cent.
Oman has been locked in a $multi-billion programme to develop its oil and gas sector and such plans gained pace following the sharp rise in crude prices over the past two years.
The country has already completed a massive LNG expansion project in the southern port of Sur with an output capacity of 10 million tonnes per year.
In 2010, Oman boosted its oil output by nearly 6.6 per cent to 865,000 bpd to reverse several years of a steady decline from the peak 900,000 bpd output in 2002 as a result of low investment in oil fields.
Oman’s oil minister Mohammed Al- Rumhi said recently his country is pursuing plans to pump over 900,000 bpd through 2012 and is targeting one million bpd for the first time since it began producing crude over three decades ago.