BP delivers first gas at giant Khazzan field in Oman

BP (LSE:BP) has announced it has commenced production from the giant Khazzan gas field in Oman, delivering the first phase of the project ahead of schedule and under budget.

The British oil major delivered the project in partnership with Oman Oil Company Exploration and Production, which holds a 40% interest in the field with BP owning the remaining 60%.

Khazzan is expected to produce 10.5 trillion cubic feet (tcf) of gas, with the first phase set to produce up to 1 billion cubic feet (bcf) per day before the second phase lifts that figure to 1.5 bcf.

“The start of production from Khazzan, BP’s sixth and largest major project start-up so far this year, is an important milestone in our strategic partnership with Oman,” said BP’s chief executive Bob Dudley.

“With further development already planned, this giant field has the potential to produce gas for Oman for decades to come.”

BP hopes to start up seven major upstream projects this year, making 2017 one of the most important years for commissioning new projects in its history.

These seven projects will make a significant contribution to the company’s target of adding 800,000 barrels per day (bpd) of oil to its current production levels by 2020.

@RGNonline