BP, Oman Oil Sign Deal to Expand License Area of Oman Gas Field
08 November 2016 - 9:55PM
Dow Jones News
By Ian Walker
LONDON--Oil major BP PLC (BP.LN) said Tuesday it and partner
Oman Oil Exploration & Production signed an agreement with the
government of Oman amending the Oman Block 61 exploration- and
production-sharing agreement to extend the license area, paving the
way for further development of the giant Khazzan tight gas
field.
BP, which is the operator of the block with a 60% interest, said
the extension adds more than 1,000 square kilometers to the south
and west of the original 2,700 square kilometers of Block 61.
"The extension will allow a second phase of development,
accessing additional gas in the area already identified by drilling
activity within the original block," BP said.
Development is subject to final approval of the Oman government
and BP, expected in 2017, BP said.
Write to Ian Walker at ian.walker@wsj.com; @IanWalk40289749
(END) Dow Jones Newswires
November 08, 2016 05:40 ET (10:40 GMT)
Copyright (c) 2016 Dow Jones & Company, Inc.
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