RPT-BP signs deal to develop big Oman tight gas project -Oman oil min

Mon Dec 16, 2013 3:19am EST

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MUSCAT Dec 16 (Reuters) - BP has signed a deal to develop a big unconventional gas project in Oman, Oman's oil and gas minister, Mohammad bin Hamad al-Rumhy, told a news conference in Muscat on Monday.

The Khazzan gas project is a showcase for BP's tight gas extraction technology and its success is key to keeping Omani industry and LNG exports running smoothly over the next decade.

After months of haggling, Muscat agreed on the price at which BP could sell any gas it can squeeze from deep underground in Block 61 in central Oman in mid-2013.