Occidental Petroleum Corp will boost its crude production in Oman by 50 percent to 150,000 barrels per day (bpd) in 2012, senior company executive Bill Albrecht said on Sunday.

The fourth-largest US oil and gas company currently produces from the Mukhaizna field in Oman.
The start-up of production in Bahrain and increased output from its development in Oman helped increase fourth-quarter sales volume by nearly 5 percent from the previous year.
In January, Occidental announced during its fourth-quarter financial report, that overall 2009 oil output rose 7 percent from 2008, and the company expects 2010 output to grow by 5 percent to 8 percent.
Occidental’s fourth quarter realized oil price was $69.39 per barrel, up from $53.52 a year earlier. US natural gas prices however, slipped to $4.37 per thousand cubic feet from $4.67.
The company is targeting $4.3 billion in 2010 capital expenditure, up from $3.6 billion last year. A quarter of the increase will go to California, and another quarter to Iraq, where Oxy has just signed a partnership deal.
(Source: Reuters)