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April 10, 2018 - Contax Partners’ Energy Feed

BP to develop Phase 2 of Oman’s Khazzan gas field | Indian Oil acquires 17% stake in Oman oil field | Aramco to plan chemical complex project study in USA | OMV to invest in UAE offshore oilfields for USD 1.5bn

 

BP to develop Phase 2 of Oman’s Khazzan gas field

BP, along with its partner Oman Oil Company Exploration & Production, has announced that it has reached FID for the development of Phase 2 of the Khazzan gas field - Ghazeer - in Oman. The first phase of the Khazzan field is currently producing at a capacity of around 1 Bcfd and around 35,000 bpd of condensate. With Phase 2, the Ghazeer project is expected to produce an additional 0.5 Bcfd and over 15,000 bpd condensate production. Drilling on the first three development wells has begun, following appraisal drilling on Ghazeer last year. Moreover, initial construction work has already started at Khazzan to accommodate a third gas train and associated infrastructure.

Indian Oil acquires 17% stake in Oman oil field

Indian Oil, India's state-owned oil & gas company, announced that it has acquired Royal Dutch Shell's 17% stake in the Makhaizna oilfield in Oman for a value of USD 329mn. While Indian Oil will own a 17% stake in Mukhaizna, the remaining 83% is owned by Occidental Mukhaizna (45%), Oman Oil Company S.A.O.C (20%), Liwa Energy (15%), Total E&P Oman (2%) and Partex (Oman) Corporation (1%). The operator of the field is Occidental Mukhaizna. The Mukhaizna oilfield is the single largest producing individual oilfield in Oman and contributes approximately 13% of total Omani crude oil production of 120,000 barrels per day.

Aramco to plan chemical complex project study in USA

Saudi Aramco plans to sign an agreement with TechnipFMC to develop chemical facilities in Texas, USA. The agreement involves a study for the development of a chemical unit that would be able to produce materials used in gasoline and as industrial solvent. Furthermore, another study will be carried out for the development of a facility that can make ethylene

OMV to invest in UAE offshore oilfields for USD 1.5bn

Austrian oil & gas group, OMV, said it will acquire a 20% stake in Abu Dhabi's concession for two offshore oilfields - Satah Al Razboot and Umm Lulu - as well as the associated infrastructure. The purchase price for this deal is USD 1.5bn and the signing of contract is expected to take place at the end of this month.

 

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