CCED delivers 100 mln barrels from blocks in Oman
CC Energy Development (CCED) have marked their 100 millionth barrel milestone from blocks 3 & 4 in Oman.
The energy company has organically grown production to exceed 45,000 bbl/day. The milestone achievement comes after more than a decade of consistent growth to build sustainable output for Oman and its people.
CCED managing director, Walter Simpson, said “It gives me great pride to have achieved this milestone and it’s a well-deserved recognition for our team who have been unwaveringly committed since we began operations in Oman. We have a fundamental commitment to drive local communities and national development through the power of sustainable hydrocarbon production and it’s encouraging to see that, despite a challenging and uncertain environment, our company is resilient and our capacity for growth is strong.”
Since acquiring Blocks 3 and 4 in 2007, CCED and its partners – Tethys Oil and Mitsui E&P Middle East - have built a valuable oil production operation from the large concession. Despite the economic restraints of production restrictions, the energy producer has remained buoyant, setting an exemplary standard of safety while embracing technology and innovation for business continuity during the global COVID-19 pandemic.
“The company has shown incredible resilience in the face of the unprecedented challenges that we’ve experienced recently and I’m positive that we’ll emerge from this pandemic stronger than before,” added Simpson. “Through it all, we’ve built a workforce that is skilled, adaptable and connected to our long-term ambitions in Oman which, in itself, is a major goal for CCED. While the current global challenges have slowed our growth plans, this is temporary, and we still have ambitious exploration and production targets, including an extensive five-year exploration programme and expanding production to 50,000 barrels per day that will see us investing more than US$300 million annually.”
KEEPING THE ENERGY INDUSTRY CONNECTED
Subscribe to our newsletter and get the best of Energy Connects directly to your inbox each week.
By subscribing, you agree to the processing of your personal data by dmg events as described in the Privacy Policy.
More oil news

EPA Terminates Nearly 400 Workers Amid US Government Purge

Trump to Create White House Council to Drive Energy Dominance

Oil Steadies as Trump’s Reciprocal Tariffs Add to Trade Tensions

Isuzu to Build Car Plant in South Carolina as Trump Tariffs Loom

SoftBank Weighs Debt-Heavy Financing in $500 Billion AI Push

Stocks Climb as Traders Brush Aside Tariff Threats: Markets Wrap

Moove Works to Control Fire Within Complex in Rio de Janeiro

Stocks Slide as Tariff Angst Adds to Price Worries: Markets Wrap

China’s Oil Teapots Cut Runs to Pandemic Levels After Sanctions
