Oman to raise gas output by 44% by 2015

Oman plans to increase gas production by nearly 44 per cent by 2015, the country's oil and gas minister said yesterday.

"Average output stood at 85 million cubic metres per day in 2009 and is expected to reach 122 million cubic meters in 2015," Oman Tribune newspaper quoted Oil Minister Mohammad Al Rumhy yesterday as saying.

Proven gas reserves in the sultanate stand at 13.14 trillion cubic feet, but the potential was much higher at 18.66 trillion cubic feet, the Tribune reported Rumhy as saying.

The cost of extracting gas in 2009 rose to $0.73 for every 1,000 cubic feet compared to $0.27 for each 1,000 cubic feet in 2000, the minister said.

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