per day, BOE) for 2016. The company is still faced with a low price environment and continues to work on cost controlling measures. The company in 2017 also celebrated 50 years of oil exports and announced a continually growing expansion into hydrocarbon and renewable energy generation and water management – turning PDO into a fully diversified energy company. Around 80% of operations are estimated to remain in the oil and gas sector until 2027. The largest onshore discovery in 2018 was a gas-condensate area, found on the Mabrouk North East field, operated by PDO. Corporate structure Board of directors The Board consists of twelve members and includes the chairman, who is the Minister of Oil & Gas His Excellency Dr. Mohammed bin Hamad bin Saif al Rumhy, who represents the Government of Oman and representation from PDO's private shareholders, Royal Dutch Shell, Total and Partex. Managing Director's Committee The Managing Director's Committee (MDC) shares responsibility for the company's overall performance and business direction. The committee is headed by the managing director who is assisted by fifteen other Directors, who are responsible for setting the technical standards, the allocation of staff and their development. Operations PDO operates in a concession area of about 90,000 km2 (one third of Oman's geographical area), has around 130 producing oil fields, 14 producing gas fields, around 8,000 active wells, a diverse workforce of more than 8,500 employees of 64 nationalities, and more than 45,000 contractors. The primary objective of PDO is to engage efficiently, responsibly and safely in the exploration, production, development, storage and transportation of hydrocarbons in the Sultanate. Oil exploration and production PDO finds oil fields and develops them into productive assets by drilling wells and constructing and operating various hydrocarbon treatment and transport facilities. The crude oil that is produced from the fields is not sold by the company but rather delivered to a storage facility at Mina al Fahal, where it is loaded onto seagoing tankers at the discretion of the company's shareholders. As such, the Company does not earn any money from the sale of oil; its shareholders do. The shareholders in turn cover all budgeted operating and capital expenditure. Gas exploration and production PDO also finds, develops and operates natural gas fields and their associated production systems all on behalf of the Government of Oman. The Company delivers gas to the Government Gas System, which supplies fuel for most