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WEEKLY NEWSLETTER
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Oman
Index
As of January 1992, official proven crude reserves were
estimated at 4.6 billion barrels, up almost 6 percent from
1991
and up 83 percent from the oil reserve estimate in 1980.
The
relatively gradual increments to Oman's reserve base since
1980
were attributable to the discovery of new, smaller oil
fields and
revised estimates for existing fields.
More than one-half of Oman's total reserves are
concentrated
in the northern region, where six fields--Jibal, Natih,
Fuhud, Al
Huwaysah, Al Khuwayr, and Shaybikah--are part of a single
geological structure containing recoverable reserves of
more than
2 billion barrels. Similarly, in the south, eight
principal
producing fields also come from a single geological
structure.
Several foreign companies that are engaged in
exploration and
production activities, such as France's Elf Aquitaine
Oman, the
Occidental Petroleum Corporation (Occidental Oman), and
the
American Oil Company (Amoco), signed agreements in the
1970s.
Others, such as the Japan Exploration Company (Japex Oman)
and
Canada's International Petroleum, followed in 1981 and
1984,
respectively.
Data as of January 1993
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