Middle East Economic Survey

VOL. LIII

No 24

14-Jun-2010

BG Suddenly Pulls Out Of $800Mn-1Bn Oman Gas Field Project

BG has walked away from its tight gas field development in Oman, four years after winning the contract, having failed to find sufficient recoverable reserves and condensate to justify the $800mn-1bn investmentneeded.

The move was a surprise it came less than a month after BG said it was going to imminently declare commerciality of the project (MEES, 24 May) and was negotiating...