MUSCAT Petroleum Development Oman (PDO) has discovered a new field in the south of the state described as the company's most significant find in five years, newspapers reported on Monday. It said the flow at the Ghafeer well was more than 6,500 barrels a day, well above the company's expectations. Two other wells were found in the same region in 1997 and 1998. "We are convinced that there is more oil to be found in this area and that in the not-too-distant future it will be making a sizeable contribution to Oman's oil production," said PDO's exploration director, Matthias Bichsel. Oman, a non-OPEC member, pumps almost 900,000 barrels a day with the help of foreign oil companies and grants concessions on the basis of production-sharing agreements.

(AFP)