by Andreas Exarheas
Tuesday, April 10, 2018
The second phase of development at the Khazzan field in Oman will be crucial to maintaining domestic gas production into the early 2020’s, BMI Research analysts say.
The second phase of development at the Khazzan field in Oman will be crucial to maintaining domestic gas production into the early 2020’s.
That is the view of oil and gas analysts at BMI Research, who have altered their previous gas production forecasts for the country following BP’s announcement on Monday that it had approved the development of Ghazeer.
“The confirmation of phase 2 has raised Oman’s gas production profile at the latter end of our forecast period, with output now peaking at 41.3 billion cubic meters instead of falling away post-2019,” the analysts said in a brief research note sent to Rigzone.
“The Khazzan reservoirs are some of the largest tight gas accumulations in the Middle East, with the potential to significantly support Oman’s gas production over our forecast period, with hundreds of wells expected to be drilled through the next five years,” the analysts added.
BMI also noted that smaller domestic gas projects, such as the Rabab-Harweel integrated project currently being developed by Petroleum Development Oman, will also help to ‘incrementally increase’ output over the medium-term.
The final investment decision for Ghazeer follows the successful start-up of Khazzan’s first phase of development in September 2017.
Ghazeer is expected to come onstream in 2021. BP estimates that the development will support around 6,000 jobs over the next three years.
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