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Saudi Fund Pledges SME Support
...F initially announced it would create Jada in 2017, saying that it would create 2,600 jobs and contribute SR400mn ($107mn) to GDP by the end of 2020 – twelve months from now. Boosting the role of the private sector is one of the central tenets of Crown Prince Muhammad’s Vision 2030. But this has pr...
Volume: 62Issue: 51-52Published at Fri, 20 Dec 2019 -
Iran Hands Farzad B Field To Petropars
....7tcf Farzad B field. Indian firm ONGC Videsh had long been interested in developing the field (MEES, 6 January 2017), but the return of US sanctions last year halted negotiations. Petropars is also the sole firm tasked with developing the 2bn cfd South Pars Phase 11 project following the withdrawal of...
Volume: 62Issue: 51-52Published at Fri, 20 Dec 2019 -
Jordan Starts Up Risha Solar
...cal private-sector firm Yellow Door Energy, with the capacity slated to be split between seven sites. Nepco says the Risha plant will deliver around 115GWh of electricity a year. When the power purchase agreement was signed in late 2017, Acwa said it had offered electricity at a cost of US¢5....
Volume: 62Issue: 51-52Published at Fri, 20 Dec 2019 -
UAE Cuts Aluminium Power Use
...ll capacity. Replacing old plants, whose efficiency could be as low as 33%, could hence save as much as 75mn cfd. Such savings are attractive for gas importers like the UAE: the emirates’ gas deficit for 2017 was 11.8bcm (1.14bn cfd). This was met with 1.58bn cfd of imports from Qatar through the Do...
Volume: 61Issue: 51-52Published at Fri, 21 Dec 2018 -
Bahrain Set For Vat Roll Out
...ssibility for implementation, but won’t yet commit. Meanwhile, Kuwait says it won’t introduce VAT until 2021, while Qatar has been out in the cold since the Saudi-led embargo began in June 2017. Bahrain’s budget projects a $3.5bn deficit this year and needs all the additional revenue it can get. The IMF se...
Volume: 61Issue: 51-52Published at Fri, 21 Dec 2018 -
…Edison Reiterates Drilling Pledge
...ich Dea previously applied for development leases, whilst North Idku saw significant discoveries as far back as 1999 and 2002 (MEES, 29 April 2002). Edison’s 2017 report books reserves of 6mn boe (around 28bn ft³) for the two blocks, a figure that appears modest when compared to the discovery wells, on...
Volume: 61Issue: 51-52Published at Fri, 21 Dec 2018 -
Oman: Oxy Inks Two New Blocks
...rget. Oxy has 100% of Block 51 whilst 65 will be operated via a joint venture with state Oman Oil Company. Both offered up in the 2017 bid round (MEES, 15 September), the blocks add to Oxy’s already sizeable Oman portfolio and give the firm a 350km contiguous stretch of assets across northern Oman which it...
Volume: 61Issue: 51-52Published at Fri, 21 Dec 2018 -
Oman: Oxy Inks Two New Blocks
...rget. Oxy has 100% of Block 51 whilst 65 will be operated via a joint venture with state Oman Oil Company. Both offered up in the 2017 bid round (MEES, 15 September), the blocks add to Oxy’s already sizeable Oman portfolio and give the firm a 350km contiguous stretch of assets across northern Oman which it...
Volume: 61Issue: 51-52Published at Fri, 21 Dec 2018