In 2017, following many years of reconstruction and oilfield optimization, PDO confirmed a new combined oil, gas and condensate production record (1.293 million barrels of oil equivalent 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.