BP benefitted largely in Q1 2021 from strong gas marketing and trading results. The results also included an approximately $1 bln gain on disposal of a 20% interest in Block 61 Oman
Muscat, July 1 - Neftegaz.RU.
British oil & gas major BP
announced that it has significantly increased production from the Block 61 gas field in Oman, from 1 bln to 1.5 bln ft3/day.
BP has had an upstream presence in Oman since 2007.
is one of the Middle East’s largest tight gas accumulations.
Its wells are tested using the ‘green completions’ concept, which eliminated 201,000 tonnes of CO2
emissions since 2019.
It was developed in 2 stages:
- Khazzan, which began production in 2017
- Ghazeer, which started up in 2020
Gas from Block 61 is distributed for domestic consumption through Oman’s national gas grid and is used as fuel for power plants, and feedstock to industries and Oman LNG
Block 61 ownership:
- BP 40%
Makarim Gas Development Limited (OQ) 30%
- PTTEP 20%
PC Oman Ventures Limited (Petronas) 10%
Yousuf Mohammed Al-Ojaili, President of BP Oman, said:
- BP is building a balanced portfolio that will continue to generate both cash and value as we transform from an international oil company to an integrated energy company
A core part of this strategy is our resilient and focused hydrocarbons business, of which Block 61 is an excellent example, offering stable, long-term returns
- We are committed to supporting the sustainable development of Oman’s economy and are proud of our strategic partnership with the Sultanate
With an estimated 10.5 trillion cubic feet of recoverable gas resources, Block 61 supplies over 30 % of Oman’s total gas demand.