Economy

BP Begins Production at Khazzan Gas Field

BP Begins Production at Khazzan Gas Field”

Oil major BP has started production at its huge $16bn (£12bn) gas project in Oman, its largest new project this year.

Fracking has not been widely used in the Middle East because the region has plentiful remaining supplies of conventional oil and gas, but the rock at Khazzan "is old, deep and very hard and the gas moves through it only grudgingly", according to a source quoted in the Financial Times.

"BP's Khazzan project will be hugely important for Oman's gas supply, with Phase 1 alone supplying 25 percent of Oman's gas by 2019", he said.

"Khazzan further demonstrates BP's ability to consistently deliver large, complex projects on schedule and within budget while applying the industry-leading skills and technology we've developed globally".

The phase one of major tight gas project is expected to deliver one bcf of gas per day to Oman, with an estimated future expansion of 1.5 bcf of gas per day. The company also said that, once development phases one and two are complete, the gas field will produce up to 1.5 billion cubic feet of gas per day.

BP's seven new projects this year are expected to help the company meet its target of producing 800,000 barrels of oil equivalent per day from new projects 2020.

In 2007, the first production sharing agreement for Block 61 containing the Khazzan field was signed and amended in 2013, leading to its extension past year.

Appraisal over 2007-2013 confirmed the existence of significant tight gas resources that could be developed through the application of the company's unconventional gas technology.

Phase One of the Khazzan development is made up of 200 wells feeding into a two-train central processing facility. "Successful first gas marks an important step towards sanction of a second development phase". In total, approximately 300 wells are expected to be drilled over the estimated lifetime of the Khazzan field.

Drilling efficiency has increased significantly during the development of the project.

British energy company BP said it brought lessons learned from hydraulic fracturing in the United States to start production at a natural gas field in Oman.



Like this

Latest


26 September 2017
Refs screw Von Miller on ridiculous personal foul
Star outside linebacker Von Miller was one of the Broncos who took a knee, and Phil Long Ford dealership took issue with that. Taylor still found a way to get yardage through the air as he ended the day going 20 of 26 for 213 yards and two touchdowns.

26 September 2017
Tom Brady Says Comments by President Trump Were Divisive
Those Brady said those were the values his parents had instilled in him and that is the way he tries to live each day. Fans at the Patriots' home stadium booed the players who knelt, with some calling for them to stand up.

26 September 2017
Tech Giants Lay Transatlantic Data Cable
Named Marea after the Spanish word for "tide", the project was constructed over a period of less than two years. Just imagine how many movies you could stream or download within a single second with that kind of bandwidth.

26 September 2017
Akshay Kumar Makes A Wish On Daughter's Birthday: Please Don't Grow Up
Some parents can't wait for their kids to grow up, Akshay Kumar is not one of them. The movie features Akshay Kumar, Sonam Kapoor and Radhika Apte in lead roles.

25 September 2017
Labour could negotiate 'new single market relationship' after Brexit
The current party chief Iain McNicol would be entitled to stand in a ballot of all party members but would nearly certainly lose. Corbyn , who has always been a Eurosceptic, benefited at the general election this year from pro-EU voters.

25 September 2017
Hurricane Maria Creating Rip Currents, Large Waves on Jersey Shore
While no direct impacts are expected locally, very unsafe beach conditions will develop today and linger through Tuesday. The official forecast track continues to take Maria slowly to the north today and Tuesday.

25 September 2017
Sky banner message urges Collins to reject health care bill
Susan Collins (R-Maine) on September 22 said she is leaning against Senate Republican legislation to repeal and replace the ACA. After that, protections that keep the bill from being filibustered and make it require just a majority vote will run out.

25 September 2017
Outlander Season 3 Episode 3: THIS major character's death raises several questions
The episode began in 1956 with an awkward conversation between Frank and Claire. "I will miss everyone greatly". I'm just at the point where I'm ready for something good to happen to Claire or Jamie with no strings attached.

25 September 2017
Raytheon Company (NYSE:RTN) Sees Significantly Lower Trading Volume
Koshinski Asset Management, Inc. bolstered its stake by buying 483 shares an increase of 16.4% from 03/31/2017 to 06/30/2017. The aerospace company reported $1.89 EPS for the quarter, topping the Thomson Reuters' consensus estimate of $1.74 by $0.15.

25 September 2017
Sarah Sanders: Focus of NFL Player Protests Has Changed, Not About Race
A senior administration official said Monday that the USA policy is not regime change. We continue to seek the peaceful denuclearisation of the Korean peninsula.



Recommended