(Reuters) – BP oil giant Plc on Monday agreed to sell a 20% stake in Block 61 Oman to Thailand PTT Research and Production for $ 2.6 billion.
The London-based company said it would continue as the operator of the blockchain, which includes a major gas-intensive development in the Middle East, with a 40% interest.
“We are committed to BP’s business in Oman – this agreement will allow us to remain at the heart of this global development while also making significant progress in our global relocation program,” said BP Chief Executive Bernard Looney.
Block 61 already had two phases of development – the Khazzan tight gas project, one of the largest upstream projects in the small Gulf state, and the Gazeer project that began production in October, BP said.
Reporting by Yadarisa Shabong in Bengaluru; Edited by Krishna Chandra Eluri