BP (NYSE: BP) Inks $16 Billion Tight Gas Deal in Oman

Brian Hicks

Written By Brian Hicks

Posted December 17, 2013

BP (NYSE: BP) Inks $16 Billion Tight Gas Deal in Oman

After months of negotiations, BP and the Sultanate of Oman have signed a 15-year production sharing agreement for development of the Khazzan gas field in the Omani desert. The field was first discovered 13 years ago, and construction will begin in 2014. It is expected that the area will begin production around 2017, and that it will produce approximately 7 trillion cubic feet of gas.

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