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Block 61 Holds 100-150 TCF Gas

Source: Oman Observer 7/1/2013, Location: Middle East

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Oman hopes to have an agreement signed and sealed with energy giant BP on the commercial development of its Block 61 tight gas reserves before the end of this year.

A top official confirmed to the Observer here yesterday that a provisional deal, termed as a ‘Heads of Agreement’, has been inked by the two sides, setting out the broad terms upon which a final agreement is now being pursued. “We have already signed the Heads of Agreement,” Nasser bin Khamis al Jashmi, Oil and Gas Ministry Under-Secretary, said.

A commercial agreement with BP will help unlock the prodigious potential of the Khazzan-Makarem field in Block 61, estimated at 100-150 trillion cubic feet (TCF) of gas in place. This bonanza in much-needed feedstock for Oman’s burgeoning electricity and water sector, as well as its rapidly expanding petrochemicals industry, is trapped in tight rock at depths ranging from 4,500–5,000 metres below ground.

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Related Categories: Coalbed Methane  General  Heavy Oil  Methane Clathrate  Oil Sands  Oil Shale  Shale Gas  Tight Gas  Tight Oil 

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