Oman to spend $10 bln on oil, gas output boost

MUSCAT, Apr 9 (Reuters) Oman plans to spend billion within the next five years to increase its oil and natural gas output, the non-OPEC Gulf state's oil minister said on Sunday.

''We want to increase (oil) production to 900,000 barrels per day by 2010 or 2011 from around 780,000 now and want to double gas output to 70-80 million cubic metres per day,'' Oil Minister Mohammad bin Hamad bin Seif al-Rumhy told reporters.

''In Oman, we plan to spend more than billion in the current five-year plan to sustain and develop production of oil and gas,'' he added.

The hydrocarbons sector accounts for 80 percent of Oman's export earnings and 40 percent of its gross domestic product. Rumhy has previously said that Oman's oil production fell about 30,000 bpd to an estimated average of 730,000 bpd in 2005.

Oman is developing or tendering for the development of several oil fields with the help of foreign firms.

REUTERS CS PM1420