BP expands Scope Of $16B Natural Gas Project in Oman
BP Plc and Oman Oil Co. has agreed to expand an exploration and production sharing agreement of the Khazzan natural gas field to include a second development phase, at an estimated cost of $16 billion for the entire project. BP Plc has said that Block 61 will add 1,000 square kilometers (386.1 square miles) to the original 2,700 square kilometer area of development. The project will produce 1.5 billion cubic feet of gas per day, or 40 percent of Oman’s current output. The first phase of the project is expected to deliver gas in 2017 and the second will start in 2020.