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BP wins green light for $16 billion Oman shale gas project
http://www.rawstory.com/rs/2013/12/16/bp-wins-green-light-for-16-billion-oman-shale-gas-project/
BP wins green light for $16 billion Oman shale gas project
By Agence France-Presse
Monday, December 16, 2013 8:49 EST
BP has won official approval to develop a key shale gas project in Oman at a cost of $16 billion (11.6 billion euros), the British energy giant said on Monday.
The announcement comes amid a boom in gas extracted from shale rock that is lowering consumers’ costs.
The agreement will last for 30 years initially and involves a 15-year drilling programme.
“Today’s signing is an important step in the Sultanate of Oman’s plans to meet growing demand for energy over the coming decades and to contribute to economic development in Oman,” Oman’s Minister of Oil and Gas Mohammed Al Rumhy said in a joint statement.