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English news

03-Feb-2016

PDO to invest USD10 billion in mega hydrocarbon projects in Oman

Petroleum Development Oman (PDO), the Sultanate's dominant oil and gas producer, aims to invest in excess of USD10 billion in a trio of signature integrated schemes that are key to sustaining the company's long-term hydrocarbon output. All three mega ventures -- the Rabab Harweel Integrated Project (RHIP), the Yibal Khuff integrated oil and gas facility, and the Budour integrated project --are making commendable headway in their planning and implementation, according to Managing Director Raoul Restucci. "These are very large investments, which will probably total in excess of $10 billion over the next 5-10 years," the Managing Director said. (Oman observer)

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