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Petroleum Development Oman (PDO) has awarded Indonesian independent Medco Energi a service contract to develop the Karim cluster of small fields, in the first such contract to be awarded in PDO's giant Block 6, the company said in a statement Tuesday (IOD Dec.6,p4).
Medco was one of six companies short-listed late last year for the 10-year contract to develop the cluster of 18 small fields in south Oman, currently producing 18,000 barrels per day, or 3% of PDO's total oil production.
According to PDO, the service contract is "aimed at raising the production levels of the small fields in a cost-effective way by providing the service provider a high degree of freedom in its operations."
Omani officials had pushed the new formula through PDO, believing that the introduction of competition within PDO's acreage would help raise Oman's oil output to at least 1 million b/d...