Oman’s marquee gas block, the 1.5bn cfd Block 61, picked up yet another stakeholder this week with BP announcing a 20% farmout to Thai state firm PTTEP for $2.6bn. Following completion, BP will retain operatorship and a 40% interest, and PTTEP joins Omani state firm OQ (30%) and Malaysia’s Petronas which took a 10% interest from the operator for an undisclosed amount in 2018 (MEES, 26 October 2018).
During BP’s Q4 results call this week, CEO Bernard Looney addressed the sale, noting “This is a good price for a good asset so we are pleased with that.” (CONTINUED - 718 WORDS)
