Page 11 - MEOG Week 26

MEOG ProJeCtS & ComPanIeS MEOG
PDO commissions Rabab Harweel Integrated Project
oman
STATE-BACKED Petroleum Development Oman (PDO) has kicked o production from the Rabab Harweel integrated Project (RHiP), with additional wells expected to come online in the coming days and weeks.
PDO has previously described RHiP as the “largest capital project and largest reserve-add” in the company’s history, containing more than 500mn barrels of oil equivalent (boe).
Arab language daily Al-Watan quoted a PDO source as saying that “actual production” had begun from three wells and adding that more wells would be brought online in the “coming days”.
e project’s start-up is on schedule, though while PDO had said in April that costs for the project had been reduced by about 20% to $3.7bn, a statement last week by the Ministry of Oil & Gas (MOG) noted the completion of the “$4.7bn” project – RHiP’s original price.
e MOG added that gas injection was being
used to produce gas and condensate from the Rabab eld and oil from the Harweel eld.
Once complete, RHiP is expected to have a production capacity of 50,000 barrels per day (bpd) of oil and 1.8 bcm per year of sweet gas.
UK-based Petrofac is the engineering and procurement contractor on RHiP and the ongo- ing Yibal Khu project.
it won the contract worth more than $1bn for RHiP in March 2014, calling for miscible gas injection and partial sour gas recycling to pro- duce oil and gas from the Harweel cluster. Har- weel is located in the south of PDO’s giant Block 6 concession, which covers 90,000 square km of the sultanate’s onshore territory.
Local rm Galfar Engineering & Contracting worked alongside Petrofac, while SNC Lavalin’s wholly owned subsidiary Kentz Overseas was awarded a deal in 2017 to provide commission- ing support services to PDO, including in bring- ing RHiP on stream.™
PrICeS
Date
WTI (US$)
ICE Brent (US$)
DME Oman (US$)
OPEC Basket (US$)
25 June
57.83
65.05
62.95
64.79
26 June
59.38
66.49
64.85
65.60
27 June
59.43
66.55
64.78
65.61
28 June
58.47
66.55
64.27
65.60
01 July
59.09
65.06
63.79
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Week 26 02•July•2019 w w w . N E W S B A S E . c o m P11