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BP is eyeing a possible investment in Oman

June 23/2011

(Arabian Oil and Gas) -- Oil & gas supermajor BP is eyeing a possible USD 15 billion investment in Oman, and plans to make a decision on whether to proceed in spring 2012. "Today we have just three wells, with plans to have 300, and this will be one of the largest projects, could be, in BP's portfolio," CEO Bob Dudley told the World National Oil Companies Congress, as reported by Reuters.

Last month, Nasser al-Jashmi, the undersecretary of the Oman oil and gas ministry said BP would start early production from the three test wells in August.

Since the Deepwater Horizon disaster BP has divested itsself of western hemisphere assets and is looking east, with massive investments in the Middle East and Caspian.

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