Occidental Petroleum Corp (Oxy) is expected to continue funding growth opportunities in its key international assets, mainly in Oman and Qatar, and to complete the Al Hosn gas project in Abu Dhabi, as part of plans to increase production in 2014, Muscat Daily has reported. “Our capital programme for the year will increase to about $10.2bn, compared with 2013, which was slightly under $9bn,” CEO of Oxy, Stephen Chazen, said in the company’s annual report. “We also expect to continue to fund growth opportunities in our key international assets, mainly in Oman and Qatar and to complete the Al Hosn gas project,” he said. “We anticipate that our Middle East business will generate more than $2bn of annual free cash flow once the Al Hosn gas project becomes fully operational,” added Chazen.
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