Special to World Tribune.com
MIDDLE EAST NEWSLINE
Wednesday, August 4, 2004
ABU DHABI ø Oman, struggling to reverse declining oil
production, has reported a major energy find.Copyright © 2004 East West
The state-owned Petroleum Development Oman said it has found oil in the
Shuaiba Formation, in the Malaan region of northwestern Oman. The discovery
came after the first well drilled in Malaan four years ago failed to yield a
commercial quantity of oil. Oman's oil production has dropped to under
800,000 barrels of oil per day.
The Shuaiba Formation has been deemed a leading reserve in Oman and
contains the Yibal field, which has been producing oil since the early
1970s. Officials said the latest discovery at Malaan-3, drilled in June and
yielding 2,600 barrels of oil per day, was attributed to advanced technology
and a new approach to oil exploration. In February, Malaan-2 was drilled and
has been producing 1,800 barrels of oil per day.
"The new setting suggested that we could expect better-quality
reservoirs and a higher oil content down the flank of the Malaan structure,"
Stephen Hiebert, a senior analyst at PDO, said. "But this theory is counter
to the conventional thinking of petroleum prospectors, which holds that the
most likely place for good oil production is at the crest of a geological