Raoul Restucci
,Managing Director,Petroleum Development Oman
Raoul Restucci has been the man in charge at Petroleum Development Oman (PDO) since October 2010, and is responsible for the day-to-day running of the organisation.
Restucci has outlined plans to markedly increase production over the next five years. PDO revealed a number of new exploration breakthroughs, including two discoveries in the Dhulia and Bribe A3C reservoirs, with a cumulative STOIIP of just over 613mn barrels.
There was also a 16% increase in Gas Initially In Place (GIIP) to 75.4 trillion cubic feet (Tcf), underpinned by new discoveries in Khulud West and Mabrouk South. On the unconventional oil front, eight wells – including five horizontal – were drilled in the Natih-B resource play. Hydraulic fracturing and testing is progressing, with results expected in the second half of 2015.
Restucci said: “Despite the challenging price environment, we maintain our profitable growth plans and we intend to stay the course with a continued focus on business improvement and sustainability. Our well engineering and project activity levels continue to grow and we are pursuing early monetisation of prospects where possible.
We are confident in our programme and we must seize the opportunity from the significant oil price decline, enabling increased cost saving opportunities and more collaborative ways of working.”
