BP Signs Up for Oman Gas Field Expansion

摘要

BP has inked a preliminary agreement with Oman to expand development of the major Khazzan tight gas field by 50% with a second phase, taking advantage of cost reductions that have significantly improved the project's economics. Under the agreement, BP will extend its current exploration and production sharing agreement covering Block 61, adding a further 1,000 square kilometers to the south and west of the original 2,700 sq km acreage in central Oman. Final approvals from both the government and BP for the plans are expected in 2017, the UK major said on Sunday.