The second is to allocate gas to the local industries and projects and to develop proper plans that allow investors to be aware of the procedures for getting the required quantities of gas," said Eng Salim bin Nasser al Oufi, Undersecretary of the Ministry of Oil and Gas in statements to reporters while patronising over the handing over ceremony of PDO In Country Value (ICV) Awards.
Eng al Oufi added, "Tanfeedh recommended making the electricity sector under oil and gas so that the Ministry of Oil and Gas will be in charge of everything related to energy in the Sultanate and be responsible also for developing the sector’s strategies.
To this end, work is underway to identify the type of specialties in the Public Authority for Electricity and Water and other public organisations operating in the field of electricity".
He pointed out that in light of this, a committee has been formed under the chair of the Ministry of Oil and Gas to study all energy related applications and henceforth approve or reject such application or request additional information on the project and link it to ICV.
The committee will also identify the type of the project, the raw materials used in it, the secondary industries, the jobs that will be created and other works related to such projects.
Based on such assessment, the committee will allocate gas for longer period for such projects.
Eng al Oufi explained that the committee comprises relevant public organisations, such as the Ministry of Oil and Gas, the Ministry
of Commerce and Industry, the Supreme Council for Planning (SCP), the Ministry of Manpower and the Ministry of Finance.
The committee seeks to streamline efforts, carefully study the proposed projects and take appropriate decisions.
Commenting on the developments at mabrouk field, the Oil and Gas Undersecretary noted that negotiations are going on between Total and Shell companies and that MoUs were signed with these two companies to develop the field and integrate it with the downstream sector.
He added that work is underway to crystalize the project to know its feasibility, the number of jobs that will be created and revenues. Work is also underway to enhance the revenues for the Government as a total revenue compared to the traditional method.
As for the OPEC agreement to increase oil production, Eng al Oufi noted that the Sultanate may increase its production of oil during the upcoming six months, but with unclear rates till date.
He pointed out that the proposed production cut by OPEC and non-OPEC members was 1.8 million barrel per day and that this rate was increased to 2.8 million barrel per day because some states failed to produce their quota and other states complied with the reduction.
He noted that this agreement was made to cover the deficit by the countries that failed to produce their quotas.
The Sultanate is contributing to the efforts made to fill this deficit.
Source Link: www.omanobserver.om