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BP Signs Oman Deal Which Could Yield Some 20 - 30 Trillion Cubic Feet of Gas

Source: www.gulfoilandgas.com 1/22/2007, Location: Middle East

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BP signed a major production-sharing agreement that will give the company access to two Middle East fields and associated accumulations that could yield resources of some 20 - 30 trillion cubic feet of natural gas.

The agreement covers an area of some 2,800 square kilometres in central Oman, including the Khazzan and Makarem gas fields which were discovered in 1993 but have remained undeveloped due to the complexity of their 'tight gas' reservoirs.

As one of the world's leading specialists in the production of tight gas, BP will apply innovative technology and proprietary expertise to unlock output hitherto trapped in scattered, low-permeability rock.

BP will conduct a comprehensive multi-year appraisal programme to understand the nature of the reservoirs. Early production is expected to begin around 2010 during the latter stages of the appraisal study, followed by full field development.

The natural gas produced will be marketed by the Government of Oman.

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