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BP Plc signs with Government of the Sultanate of Oman gas sales agreement and an amended production sharing agreement for the development of the Khazzan field


Monday, 16 Dec 2013 03:02am EST 

BP Plc:Says the Government of the Sultanate of Oman and BP have, on Dec. 16, signed a gas sales agreement and an amended production sharing agreement for the development of the Khazzan field, with BP as operator.Says the full field development will involve a drilling programme of around 300 wells over 15 years to deliver plateau production of one billion cubic feet (28.3 million cubic metres) of gas per day and 25,000 barrels per day of gas condensate.Says the volume is equivalent to around a third of Oman's total daily domestic gas supply and will contribute to ensuring continuing stable supplies from domestic sources.Says the total investment in the full field development is around $16 billion, which includes the investment made to date in the appraisal of the resource and early well test programme.Says construction work for the Khazzan project, located in the South of Block 61, will begin in 2014, and first gas is expected in late 2017.Says gas production is expected to ramp up to plateau in 2018 and in total the project is expected to develop around 7 trillion cubic feet (tcf) of gas, which will require BP to deploy new technologies.Says the amended exploration and production sharing agreement and a gas sales agreement extend for an initial 30 years.Says the full field development involves a 15-year drilling programme, with production tied back to a new central processing facility in Block 61 via a 500 kilometre long gathering system. 

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