KUALA LUMPUR (Oct 12): Petroliam Nasional Bhd (Petronas) today announced the start of production of the Ghazeer natural gas field located in Block 61 in Oman.
Ghazeer is the second phase of development of Block 61. The first phase, involving the Khazzan gas field, was brought online three years ago.
Block 61 is operated by BP Exploration (Epsilon) Ltd with a 60% interest, while Petronas subsidiary PC Oman Ventures Ltd holds a 10% stake, while Makarim Gas Development LLC, a subsidiary of OQ, holds the remaining 30%.
Production capacity is expected to rise to 1.5 billion cubic feet per day, with more than 65,000 barrels per day of associated condensate, said Petronas in a statement.
“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,” said Petronas president and group chief executive officer (CEO) Tengku Muhammad Taufik Tengku Aziz.
“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 Vision 2040,” he added.
According to Petronas, Block 61, being one of the Middle East’s largest tight gas accumulations, has the capacity to deliver about 35% of Oman’s total gas demand with an estimated 10.5 trillion cubic feet of recoverable gas resources.
Development of the block, the company said, is an important achievement and a key contributor towards Oman’s Vision 2040 in terms of supporting the growth of local industries as well as diversifying the country's economy.
“As a progressive energy and solution 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,” said Tengku Muhammad Taufik.