As Omans largest oil and gas producer, PDO plays perhaps the most important role of any firm in the sultanates economy. According to the Finance Ministry, the hydrocarbons sector accounted for 86 per cent of state revenues in 2012. In the same year, revenues from oil and gas accounted for about 40 per cent of the countrys total gross domestic product.
PDO faces significant challenges to get the most out of Omans reserves, which are meagre in comparison to fellow GCC oil exporters Saudi Arabia, Kuwait, the UAE and Qatar. As a consequence, PDO has been leading the region in deploying EOR technology, setting a precedent for others in the region to maximise recovery from maturing fields.
PDO has about $10bn of projects in the pipeline between now and 2022, which are planned to increase the oil reserves available to the company. During that period, the proportion of oil produced by PDO using EOR techniques will rise from about 3 per cent to more than a quarter of all oil.
PDO must ensure its cornerstone projects Rabab Harweel, Yibal Khuff and Budour are developed on schedule to maintain oil production at targeted levels.