Oman spearheads Gulf push to extract more oil with new techniques

Oman spearheads Gulf push to extract more oil with new techniques:

Revolutionary technologies to extract more oil from reservoirs to add hundreds of millions of dollars to balance sheets and produce millions of extra barrels are being increasingly deployed by Gulf countries, with Oman leading the way.

With extra barrelage targeted for both domestic consumption and export, the latest moves are a sign that competition in the global oil industry is hotting up as producers seek to bolster profit margins.

Enhanced Oil Recovery (EOR) techniques have been around for a while. But technological advances, and the fact that easy-to-extract onshore oil is getting much harder to find, have propelled EOR into the limelight.