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Decision on development of Khazzan gas field with BP soon, says govt  Join our daily free Newsletter

MENAFN - Muscat Daily - 04/12/2012

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(MENAFN - Muscat Daily) The Oman government and British Petroleum (BP) are likely to make a joint decision soon on the full development of the Khazzan and Makarem gas fields, according to H E Nasser bin Khamis al Jashmi, undersecretary at the Ministry of Oil and Gas.Speaking at the 8th Gas Arabia Summit, H E Jashmi said, ''I am glad to see the progress which BP is making towards the development of the Khazzan-Makarem gas fields. It is progressing well with several appraisal wells already drilled and long-term production tests completed.''''We hope that there will be a joint decision soon between the government and BP to go for the full development which is estimated to add about one-third of current gas production in Oman,'' he said.Later speaking to reporters, H E Jashmi said that BP is doing a lot of appraisal work in the fields which is also taking a lot of time.''We are involved with BP in discussing all technical and commercial issues. We have closed many issues and there are still some that need to be closed. I am not sure whether we will sign the agreement this year or the next - this depends on the progress in negotiations. It depends on the outcome of many issues which are still under discussion.''H E Jashmi said that the government and BP are also discussing whether to sign a heads of agreement first or to go directly ahead for the full agreement. ''We are already discussing the heads of agreement but I am not sure how long it will take us to finalise it,'' he added.

 






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