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FINANCIAL NEWS
Oman, BP to sign agreement full-field commercial development of Block 61
21 Oct 2013
(MENAFN) The Omani government and BP are currently in advanced stages of a production sharing agreement, Times of Oman reported.
The agreement to be signed is for full-field commercial development of Block 61 tight gas fields.
The Omani minister of oil and gas said: “We are making very good progress. Both Oman government and BP have agreed to finalise all agreements by the end of this year. Once all agreements are in place, we expect BP to declare commerciality and then we sign a long-term production sharing agreement with them for 30 years.”
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