BP PLC has inked a deal to sell a 20% participating interest in Oman’s gas Block 61 to Thailand’s PTT Exploration and Production Public Company Ltd. (PTTEP) for a total of $2.6 billion. As part of the agreed terms, BP (BP) will get $2.450 billion at deal completion, which is expected during 2021, and another $140 million will be payable subject to pre-agreed future conditions. Upon closure of the sale, the oil giant will remain the block’s operator with a 40% interest. Other stakeholders include Petronas and Oman’s state oil company OQ. Gas from Block 61 is exported for domestic consumption into Oman’s national gas grid.
https://www.tipranks.com/news/bp-sells-2-6b-oman-gas-block-stake-to-thailands-ptt