Oman's petroleum deposits were discovered in 1962, decades after most of those of its neighbours. Moreover, Oman's oil fields are generally smaller, more widely scattered, less productive, and more costly per barrel than in other Persian Gulf countries. The average well in Oman produces only around 400 barrels per day (bbl/d), about one-tenth the volume per well of those in neighbouring countries. To compensate, Oman uses a variety of enhanced oil recovery (EOR) techniques. While these raise production levels, they increase the cost./P>
According to the 2008 BP Statistical Energy Survey, Oman had proved oil reserves of 5.572 billion barrels at the end of 2007, the bulk of which are located in the country's northern and central regions. The largest and traditionally most reliable fields are in the north. These fields, which include Yibal (the biggest), Fahud, al-Huwaisah, and several others, are now mature and face future declines in production. In spite of declining production, Oman remains a significant non-OPEC oil exporter. According to the 2008 BP Statistical Energy Survey, Oman produced an average of 717.8 thousand barrels of crude oil per day in 2007, 0.9% of the world total and a change of -4.6 % compared to 2006./P>
/P>Oman exports significant amounts of liquefied natural gas and, according to the 2008 BP Statistical Energy Survey, had 2007 proved natural gas reserves of 0.69 trillion cubic metres and 2007 natural gas production of 24.1 billion cubic metres./P>
