BP’s Expand In Oman Worth $650

BP will invest $650 million in Oman over the next six years to develop difficult gas reservoirs and is also considering expanding its operations in the Middle East region.

Currently, BP's share in Middle East oil production stands at around 230,000 b/d of oil equivalent, from a global total of around 4 million boe/d, a ratio the company is keen to increase.

As well as investing in Oman, Peacock said the UAE will play a major role in achieving this goal as the company plans to maintain its interest in oil concessions in Abu Dhabi and continue operating and investing in Sharjah.

The head office for BP's Middle East exploration and production activities is in Abu Dhabi, from where it oversees its operations in Abu Dhabi, Oman and Sharjah, the delivery of technical services to Kuwait and business development throughout the region. The company also has branch offices in Kuwait, Oman, Qatar and Saudi Arabia.