BG Group PLC signed a $150 million exploration and production-sharing agreement with Oman for 100% interest in and operatorship of Block 60 in the Abu-Altobool area of the Wusta region.
Eric Watkins Senior Correspondent
LOS ANGELES, May 1 -- BG Group PLC signed a $150 million exploration and production-sharing agreement with Oman for 100% interest in and operatorship of Block 60 in the Abu-Altobool area of the Wusta region.
Block 60, which covers almost 1,500 sq km, contains the Abu Butabul gas and condensate discovery of 1998, as well as other exploration prospects.
BG will acquire seismic data and conduct a comprehensive appraisal drilling program.
An Omani official said gas produced from the block will be sold to the Omani government.
