Economy
British Petroleum Gears Up Gas Output From Block 61
Muscat: Oil & gas giant British Petroleum (BP), in partnership with OQ, PTT Exploration and Production Public Company Limited (PTTEP), Petronas and the Ministry of Energy and Minerals, has announced that it has geared up its production from the Block 61 gas field in central Oman.
Gas production has increased to 1.5 billion cubic feet per day (bcf/d), from prior levels of 1 bcf/d. BP-operated Block 61 was developed in two stages – Khazzan, that began production in 2017, and Ghazeer, that commenced operations last year. It is a high-quality, highly efficient development, designed from the outset to incorporate a number of lower emissions technologies.
BP Oman president Yousuf al Ojaili commented, “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.”
In addition, he stated, “We are committed to supporting the sustainable development of Oman’s economy and are proud of our strategic partnership with the Sultanate. Gas from Block 61 is a key part of the integrated energy value chain and will play a core role in Oman’s future development. We appreciate the collaborative support we have received from the Oman government and our partners in delivering this increase in production.”
With an estimated 10.5 trillion cubic feet of recoverable gas resources, Block 61 supplies over 30% of Oman’s total gas demand.
-
Banking & Finance3 weeks agoOman Oil Marketing Company Concludes Its Annual Health, Safety, Environment, and Quality Week, Reaffirming People and Safety as a Top Priority
-
Economy2 months agoMaal Card: What Oman’s New National Payment Card Means for Everyday Users
-
News2 months agoSheikh Suhail Bahwan, Chairman of Suhail Bahwan Group, Passes Away
-
News1 month agoOIG Appoints New CEO to Lead Its Next Chapter of Excellence
-
News1 month agoReport: How India & The Middle East Are Exploiting Immense Economic Synergies
-
Economy2 months agoOman Unveils Official Omani Rial Symbol in Landmark Move to Boost Global Currency Presence
-
Uncategorized1 month agoOman’s ISWK Cambridge Learners Achieve ‘Top in the World’ and National Honours in June 2025 Cambridge Series
-
Trade2 months agoConsulate Office of the Republic of South Africa opens in Muscat, enhancing bilateral relations
