Malaysia’s Petronas has agreed to purchase a 10% stake in the BP-operated Khazzan gas field in Oman, The Wall Street Journal reported on Thursday. An announcement is expected within days.
BP’s partner in the project, Oman Oil Co., had been looking to sell 10% of its existing interest in the field. After Petronas’s potential acquisition, the company will hold a stake of about 30%, while BP will retain its 60% interest.
