Muscat – CC Energy Development (CCED), an independent oil exploration and production company, has announced a major milestone: the production and export of its 150 millionth barrel of oil from Blocks 3&4 in Oman.

This achievement highlights CCED’s commitment to responsibly using Oman’s oil resources and supporting the country’s economic growth and energy security, the company said in a press statement.

Reaching this 150mn-barrel mark is a significant achievement in CCED’s 16 years in Oman, which began when it acquired Blocks 3&4 in 2008. CCED holds a 50% operating interest, while Swedish-based Tethys Oil has a 30% stake, and Mitsui E&P Middle East owns 20%.

This latest milestone was reached in under five years since exporting the 100 millionth barrel, showcasing CCED’s strong leadership and innovative technology. The company has effectively tackled challenges related to reservoir management and environmental impacts.

Walter Simpson, Managing Director of CCED, said, “We are excited to reach this milestone and proud of its contribution to Oman’s economic development. This success is due to the hard work and teamwork of everyone involved. A big thank you to our team and partners for making this happen!”

Simpson also discussed CCED’s future goals, saying, “As we aim for the 200 millionth barrel, sustainability and cost-effective production will be key to our strategy. We will focus on balancing operational excellence and smart decision-making.”

In addition to oil production, CCED is committed to reducing carbon emissions as part of Oman’s national Net Zero strategy. Last year, the company launched a gas-to-power initiative to supply electricity to its operations in Blocks 3&4, significantly cutting greenhouse gas emissions and diesel use.

CCED is also pursuing initiatives to lower diesel use, end routine flaring, and cut overall emissions. The company aims for a 60% reduction in diesel emissions by 2025, a 50% reduction in total emissions by 2030, and to stop routine flaring of hydrocarbon gases by 2030.

This focus on sustainability, along with ongoing exploration and production, will help CCED remain a key player in Oman’s energy sector for years to come.