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| Name | Symbol | Market | Type |
|---|---|---|---|
| BP Plc | NYSE:BP | NYSE | Depository Receipt |
| Price Change | % Change | Price | High Price | Low Price | Open Price | Traded | Last Trade | |
|---|---|---|---|---|---|---|---|---|
| 0.48 | 1.24% | 39.18 | 39.48 | 38.92 | 38.96 | 9,850,933 | 23:41:55 |
From May 2019 to May 2024
By Oliver Griffin
BP PLC (BP.LN) said on Monday that it approved the development of Ghazeer, the second phase of the giant Khazzan gas field in Oman, with its partner the Oman Oil Company Exploration & Production.
The oil-and-gas company said that the decision follows the successful startup of Khazzan's first phase of development in September 2017. BP said that the project is now producing at design capacity of 1 billion cubic feet of gas per day and around 35,000 barrels per day of condensate.
The development of Ghazeer will see production increase by an additional 500 million cubic feet of gas per day and 15,000 barrels per day of condensate, BP said.
Drilling on the first three development wells has begun, the company said. Initial construction work has already started at Khazzan to accommodate a third gas train and associated infrastructure.
The Khazzan project is on Block 61, which BP operates and holds a 60% working interest.
Write to Oliver Griffin at oliver.griffin@dowjones.com
(END) Dow Jones Newswires
April 09, 2018 05:08 ET (09:08 GMT)
Copyright (c) 2018 Dow Jones & Company, Inc.
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