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BP expects deal for Oman's Block 61 in 2013
- Oman: Monday, December 03 - 2012 at 04:28
British Petroleum (BP) has said its agreement with Oman government for a full-field commercial development of its 'Block 61' tight gas fields in north-central Oman is seen only next year, Times of Oman has reported. The British oil giant is in an advanced stage to finalise the deal, which will be the driving force for the development of gas-rich Khazzan and Makarem fields with a whopping capital expenditure of $24bn. In June 2007, BP signed a major exploration and production sharing agreement with the Omani government for the appraisal and development of the block and the two gas fields. The deal covers an area of some 2,800 sq km in central Oman, which contains a number of tight gas reservoirs which were first discovered in the 1990s.
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