Deals
Oman Oil Seeks Buyers for Stake in Khazzan Gas Field
- A 10 percent stake in field could be worth about $1 billion
- Sale is drawing interest from Chinese, Indian, Mideast firms
Photographer: Tomohiro Ohsumi/Bloomberg
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Oman Oil Co. is planning to sell a 10 percent stake in a key natural gas field in the sultanate amid a review of the state-owned energy producer’s options for restructuring its business, according to people with knowledge of the matter.
The holding in the Khazzan gas field, which is 60 percent owned by energy giant BP Plc, could be worth about $1 billion or more, the people said, asking not to be identified as the information is private. The asset is drawing interest from Chinese, Middle Eastern and Indian companies, and Oman Oil, which owns 40 percent of the field, expects to get bids by July, the people said.