abce certificate
middle east
Tuesday, 02 December, 2008, 22:10 GMT | more >>

BP to invest $700m in Oman fields



By Upstream staff 

Oil giant BP plans to invest $700 million to develop gas fields in Oman over the next six years, the state's oil and gas minister said today.

"BP's investment in the initial period, which is about six years, will be about $700 million," said Oil Minister Mohammed al-Rumhy.

The production sharing agreement signed by Oman and BP covers an area of 2800 square kilometres in central Oman, including the Khazzan and Makarem gas fields.

The fields contain 'tight gas' reservoirs, BP said. BP is a specialist in tight gas production in the US.

BP said the fields could yield resources of up to 30 trillion cubic feet of natural gas.

Commercial production at the Oman fields is expected to begin after 2010, Reuters reported.


Monday, 22 January, 2007, 12:40 GMT  | last updated: Monday, 22 January, 2007, 12:40 GMT

e-mail this article to a colleague


to email:  from:
comments: