FINANCIAL NEWS

BP, Oman ink licensing deal for Khazzan gas field

09 Nov 2016

(MENAFN) BP and Oman Oil Co. Exploration and Production (OOCEP) signed a deal with the government of the Sultanate of Oman for Khazzan gas field.

Furthermore, the extension deal adds more than 1.000 square kilometers to the south and west of the original 2.700 square kilometers of Block “61”.

In addition, the extension will allow a second phase of development, accessing extra gas in the areas identified by drilling activity amid the original block.

Accordingly, BP recently reached over 80 percent progression on the Khazzan project completion and on track to receive first gas near the end of 2017.

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