Muscat: The Minister of Energy and Minerals said that one can predict oil prices and the policy is to maintain production capacity regardless of prices.
The operating cost does not exceed $9-10 per barrel, and the annual production cost is $23-25, which will not impact the business of the sector if prices fall below $60.
The ministry has asked project owners and investors to move away from gas and towards electricity, and the new hydrogen energy will offer a big leap in that direction.
The strategy is to offer large areas for investment in mining concession areas, and we started with 12 concession areas in cooperation with the Oman Investment Authority and Minerals Development to identify the sites that can be extracted.
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