The Sultanate’s oil production increased by 9.6 per cent in 2022, touching 388,434,800 barrels by the end of December, as per data revealed by the National Centre for Statistics and Information.

Crude oil production alone saw a boost of 12.8 per cent, while the production of oil condensate decreased by 1.4 per cent compared to the same period in 2021.

Meanwhile, the average price of Omani crude oil saw a significant increase of 48.4 per cent, reaching US$95.4 per barrel by the end of December 2022, compared to US$64.3 per barrel during the same period in 2021. The average daily oil production also increased by 9.6 per cent.

Japan saw the greatest growth in Omani oil exports, with an increase of 179.3 per cent to reach 11,697,100 barrels by the end of 2022. South Korea’s imports of Omani oil also saw a 92.8 per cent boost, followed by India at 7.8 per cent and China at 7.6 per cent.

The domestic production of natural gas – including imports – in the Sultanate of Oman witnessed a 3.7 per cent increase until the end of December 2022, reaching 52,061,900 cubic meters, compared to 50,190,600 cubic meters during the same period in 2021.

Associated gas production increased by 9.3 per cent to 10,064,000 cubic meters, while non-associated gas production and imports increased by 2.5 percent to reach 41,997,900 cubic meters.

The data showed that the consumption of natural gas in industrial areas, including the Oman Mining Company and Oman Cement, increased by 12.6 per cent, while consumption in industrial projects increased by 7.4 per cent. However, gas consumption in oil fields decreased by 1.6 per cent and power plants, including the Sultan Qaboos University and the Ministry of Defense, decreased by 1.4 per cent.

This data highlights the growth and success of the Sultanate of Oman’s oil and gas industry in 2022, with promising increases in production and exports.