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Petronas

Malaysia’s national oil company Petronas’ subsidiary, PC Oman Ventures, intends to buy a 10% stake in Oman’s Al Khazzan gas field, following a bidding exercise held by the exploration arm of state-owned Oman Oil Company. PC Oman Ventures would acquire the stake in Block 61 of the field, which is expected to produce around 1.5 billion cubic feet per day of natural gas by 2020. The field was discovered in 2000 and is situated approximately 350 km southwest of Muscat. Oman Oil Company Exploration and Production (OOCEP) said that the sale was subject to approval from the Sultanate of Oman’s government and other closing conditions. OOCEP holds a 40% stake in the block, while Britain’s BP holds the remaining 60%


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