MUSCAT: Oman continues to demonstrate a robust commitment to securing its energy future by balancing oil and gas production with effective reserve replacement strategies, according to Dr. Saleh bin Ali Al Anbouri, Director General of Exploration and Production at the Ministry of Energy and Minerals. Averaging 993,000 barrels of crude oil and condensates per day alongside 149 million cubic metres of natural gas in 2024, the Sultanate has delivered stable hydrocarbon supplies amid fluctuating global energy markets. Dr. Al Anbouri emphasised that Oman’s upstream operators remain focused on sustaining output while actively marketing open concession areas to attract domestic and foreign investment, aligned with OPEC+ efforts to support sector stability.
Strengthening investment appeal, the ministry is intensifying offshore exploration campaigns considered vital for future production expansion. By deploying state-of-the-art technologies and innovative reservoir development techniques, Oman aims to boost long-term energy resilience while ensuring sustained growth of hydrocarbon reserves. Activity in 2024 included the signing of three new petroleum agreements for blocks 38, 74, and 15, reinforcing the country’s strategy of widening its exploration footprint. According to Dr. Al Anbouri, key initiatives such as enhanced oil recovery using steam and polymer injection further support ambitions to replace 100 percent of annual production volumes.
Exploration remained a cornerstone of Oman’s upstream agenda in 2024, with 73 exploratory and appraisal wells drilled nationwide, including 54 for oil and 19 for gas. Petroleum Development Oman made a major contribution by drilling 24 oil wells and 9 gas wells, underscoring its central role in the country’s energy portfolio. These efforts have translated into strong reserve positions, with crude oil and condensate reserves estimated at 4.825 billion barrels and gas reserves at 23.3 trillion cubic feet by the end of the year. Such figures reflect the ministry’s success in offsetting production levels and strengthening the foundation for future output optimisation.
Looking forward, Dr. Al Anbouri confirmed that the ministry will maintain its focus on cultivating a favourable investment environment for both local and international partners. Continuous exploration, deployment of enhanced recovery methods, and competitive concession offerings will underpin efforts to secure a resilient and sustainable energy landscape for Oman. By maintaining strategic discipline and leveraging technological innovation, the Sultanate aims to position itself at the forefront of regional hydrocarbon producers while safeguarding long-term economic vitality.
