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Oman plans $3.5bn oil output boost

20 July 2010

Oman's finance ministry has said the Sultanate plans to spend $3.5bn in the next five years to boost oil output by 18% and to generate cash for infrastructure projects, Reuters has reported. "We are targeting an average of a million barrels per day by 2015 and we will be spending some $3.5bn in the next five years to achieve it," a ministry official was quoted by the news service as saying. Oman currently produces 850,000 barrels of oil per day.

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