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Kuala Lumpur, 12 October 2020 – PETRONAS through its subsidiary, PC Oman Ventures Ltd (PCOVL) together with its partners, BP Exploration (Epsilon) Limited and Makarim Gas Development LLC, a subsidiary of OQ, today announced the start of production from its Ghazeer gas field (Phase 2), located in Block 61, Sultanate of Oman, three years after the Khazzan gas field (Phase 1) was brought online.
With Ghazeer, the production capacity from Block 61 is expected to rise to 1.5 bcf/d with more than 65,000 bbls/day of associated condensate. Block 61 is operated by BP Exploration (Epsilon) Limited with a 60% participating interest, while PCOVL holds 10% and Makarim Gas Development LLC holds the remaining 30%.
PETRONAS President and Group Chief Executive Officer Tengku Muhammad Taufik said: “PETRONAS is proud to be part of the Block 61 consortium that has successfully delivered the start-up of Ghazeer ahead of schedule and most importantly, safely, amid challenging market conditions. This shared success is a result of a strategic collaboration among the consortium partners, contractors and the Government of the Sultanate of Oman. We look forward to strengthening this partnership as we progress together towards delivering clean, safe and reliable energy supply to the Sultanate of Oman, in line with the country’s 2040 vision.”
Block 61, being one of the Middle East’s largest tight gas accumulations, has the capacity to deliver approximately 35% of Oman’s total gas demand with an estimated 10.5 trillion cubic feet of recoverable gas resources. Development of the block is an important achievement and a key contributor towards Oman’s 2040 vision in terms of supporting the growth of local industries as well as diversifying its economy.
“As a progressive energy and solutions partner enriching lives for a sustainable future, our stronger commitment towards a lower carbon future is an essential part of PETRONAS’ sustainability agenda to deliver long-term positive impact wherever we operate,” Tengku Muhammad Taufik added.
Issued by:
Media Engagement Department
Group Strategic Communications
PETRONAS
