Oman Greenlights BP's $16B Khazzan Gas Project

Law360, New York (December 16, 2013, 2:45 PM EST) -- The sultanate of Oman approved the launch of BP's $16 billion development of the Khazzan gas field, signing gas sales and production sharing agreements with the company on Monday.

The massive investment will cover 15 years of drilling to get at the so-called Block 61 deposit, to extract a total of 7 trillion cubic feet of tight gas, BP said. It will be the first phase in developing the massive Khazzan field, which can supply Oman with power for many decades to come, according to the...
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