True to their word, UK oil and gas giant BP and Oman’s government this week signed both a gas sales agreement and an amended production sharing agreement for the 7 tcf, 1bn cfd Phase-1 development of the Khazzan tight gas field in Oman’s central Block 61 license.
This deal – estimated at around $16bn – comes on the back of close to four years of hard-nosed negotiations, with the two sides deadlocked for long periods over a range of key issues, including output volumes, condensate shares, length of contract and the gas price. (CONTINUED - 1031 WORDS)
