OOCEP holds off on Abu Butabul progress report

Market: Natural gas
03/11/14

Oman's state-owned OOC Exploration and Production (OOCEP) is yet to confirm a start-up date for the Abu Butabul tight gas field but will an announcement about its production on 20 November.

OOCEP will be the first Omani company to develop such a project. Technical issues had pushed back the June start-up date for the $2.5bn project, of which $1bn has already been invested, to October as soon as the commissioning of a gas processing plant was completed.

OOCEP took over the gas field in block 60 from UK energy firm BG in 2010 after the latter failed to agree on gas prices with the Omani government. BG planned to produce 90mn ft³/d (930mn m³/yr), but OOCEP has lowered the target to 70mn ft³/d to extent plateau production from three years to around seven years. The field is also expected to produce an average of 6,000 b/d of gas condensate.

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OOCEP holds off on Abu Butabul progress report

Related news posts

Japan’s energy demand falls on economic slowdown

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