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Egyptian Refinery Takes Top Spot In African Project Financing
...C) consortium along with GS Engineering and Construction. The contractors estimate that they will complete construction and operational testing in the second half of 2014, with full operations beginning in 2015. With $2.6bn coming from senior and subordinated debt, the remaining $1.1bn of the $3....
Volume: 53Issue: 34Published at Mon, 23 Aug 2010 -
KMG Announces Delay Of Kashagan Phase 2 To 2018-19
...2015-16. Mr Kabyldin did confirm that commercial production from Kashagan Phase 1 would start by late 2012 at an initial rate of 14mn tons/year (280,000 b/d). Output is expected to nearly double by 2014-15 to 23mn t/y (460,000 b/d). However, this is thought insufficient to justify construction of th...
Volume: 53Issue: 34Published at Mon, 23 Aug 2010 -
Egyptian Refinery Takes Top Spot In African Project Financing
...C) consortium along with GS Engineering and Construction. The contractors estimate that they will complete construction and operational testing in the second half of 2014, with full operations beginning in 2015. With $2.6bn coming from senior and subordinated debt, the remaining $1.1bn of the $3....
Volume: 53Issue: 33Published at Mon, 16 Aug 2010 -
BP And Socar Sign MOU Covering Shafag Asiman Offshore Structure
...oduction. The second development phase will produce an additional 16 bcm/year once it comes on stream, sometime between 2014 and 2016. Turkey will take 6 bcm/y of the new production, leaving 10 bcm/y available to other customers. A spokeswoman said on 4 August there are three pipeline projects planned by...
Volume: 53Issue: 33Published at Mon, 16 Aug 2010 -
Saudi Arabia Approves $385Bn Development Plan
...hieved a GDP growth of 5.2% in 2009 (at constant 1999 prices), per capita income is expected to rise from SR46,200 ($12,320) in 2009 to SR53,200 ($14,187) in 2014. Over the plan period, private sector GDP is projected annually to grow at the rate of 6.6% and the non-oil sector by 6.3%. Total investment wi...
Volume: 53Issue: 33Published at Mon, 16 Aug 2010 -
Abu Dhabi’s Gas Crunch Worsens
...Middle East Economic Survey VOL. LIII No 32 9-Aug-2010 MEES Agenda Abu Dhabi’s Gas Crunch Worsens Abu Dhabi’s gas crisis will worsen until 2014, and continue until 2017 unless it finds an alternative to domestic gas, due to delays in major development projects. It already faces a 2b...
Volume: 53Issue: 32Published at Mon, 09 Aug 2010 -
Dragon Oil Output Averages 46,420 B/D In 1H 2010
...10, the CPC transported 20.105mn tons of Kazakh and Russian crude, compared with 20.122mn tons for the same period last year. During 2009, the CPC shipped a total of 34.574mn tons, compared to 31.47mn tons in 2008. The capacity of the pipeline is to be expanded to 67mn tons (1.34mn b/d) by 2014, wi...
Volume: 53Issue: 32Published at Mon, 09 Aug 2010 -
ERC Signs $2.6Bn Financing Agreement For Musturud Refinery
...n t/y of diesel. Products will supply the domestic market, especially Cairo, where the project will be located. The engineering procurement and construction (EPC) contractors are Japan’s Mitsui and Korea’s GS Engineering. Completion is planned for 2014....
Volume: 53Issue: 32Published at Mon, 09 Aug 2010 -
Morocco Invites Pre-Qualification Bids For Phase 1 Of Solar Project
...for the design, financing, construction, operation and management of one or more thermo-solar units at Ouarzazate with capacities of at least 125mw, to begin operations in 2014. The complex will be located on a 33 sq km site in central Morocco, 4km from the Mansour Eddabi dam. Total desired ca...
Volume: 53Issue: 32Published at Mon, 09 Aug 2010 -
Question Mark Hangs Over ADNOC Oil Concessions
...om six oil fields in a 21,000 sq km a concession area, ends in January 2014 (MEES, 22 February). It aims to have a production capacity of 1.8mn b/d by 2017, according to ADNOC. An offshore oil joint venture, ADMA-OPCO – ADNOC 60%, BP 14.67%, Total 13.33% and Japan Oil Development Company (JODCO) 12...
Volume: 53Issue: 31Published at Mon, 02 Aug 2010 -
KMG And Shell To Lead Kashagan Phase 2 Development
...nounced on 28 July that the tenders for the doubling of its throughput capacity to 2.7mn b/d will be completed before the end of the year. Some 1.05mn b/d of the additional capacity will be dedicated to the export of Kazakh oil. The expansion is expected to cost $4.5bn and to be completed by late 2014...
Volume: 53Issue: 31Published at Mon, 02 Aug 2010 -
Shuweihat S3 Power Plant Attracts Bids From Five Consortia
...e third plant at the Shuweihat location on the coast of al-Gharbia, west of Ruwais, is scheduled to provide early power in summer 2013 and be fully operational before the 2014 summer peak loading period. ADWEA plans to announce the winning bid consortium, which will be a 40% joint venture partner, by...
Volume: 53Issue: 31Published at Mon, 02 Aug 2010 -
North Africa Forges Ahead With Refinery Upgrades, Expansions More Elusive
...amant that the project will be completed by the second quarter of 2014. However, he concedes that the global financial crisis, which caused difficulties in securing financing and procuring materials, has delayed the project and driven up the costs. It was originally due on stream in 2011 at an estimated co...
Volume: 52Issue: 34Published at Mon, 24 Aug 2009 -
QP Sees Oil And Gas Output At 5Mn BOED By 2014
...Middle East Economic Survey VOL. LII No 34 24-Aug-2009 QATAR QP Sees Oil And Gas Output At 5Mn BOED By 2014 Qatar Petroleum’s Director of Oil and Gas Projects, Sa'd al-Ka'bi, said the country’s total oil and gas capacity could reach 5mn b/d of oil equivalent (boed) by 2014 wh...
Volume: 52Issue: 34Published at Mon, 24 Aug 2009 -
Banks Lining Up For Riyadh IPP, After Rabigh IPP Closes Financing
...oposal to developers in June after 10 consortia had pre-qualified. The Riyadh plant is expected to start up in April 2013 and reach full capacity in April 2014. As a gas-fired operation, and located near the Kingdom’s expanding capital city, the plant is expected to attract strong interest from both de...
Volume: 52Issue: 33Published at Mon, 17 Aug 2009 -
BP Plans $2Bn Investment In Algeria By 2014
...Middle East Economic Survey VOL. LII No 32 10-Aug-2009 ALGERIA BP Plans $2Bn Investment In Algeria By 2014 BP is planning to spend $2bn over the next five years in Algeria, where it is one of the largest international gas producers and has exploration acreage that has al...
Volume: 52Issue: 32Published at Mon, 10 Aug 2009 -
Egypt’s Actual 2008-09 Budget Deficit Unchanged At 6.9% Of GDP
...d Suez Canal transit dues. The government’s target is to lower the budget/GDP deficit to 3% in 2014-15, down from 9.6% in 2004-05. Total revenue in 2008-09 rose by 24% to reach E£274.8bn ($49.6bn), while total expenditure jumped by 21.7% to E£343.7bn ($62.0bn), resulting in an actual budget de...
Volume: 52Issue: 32Published at Mon, 10 Aug 2009 -
EU Balkan States Considering Arab LNG Imports Via Greece
...ansmission system operator DESFA, Panayiotis Kanellopoulos told MEES on the sidelines of the conference that “Revythousa’s capacity is expanding. Planning has already commenced to increase its existing storage capacity by almost 70% by 2014.” Mr Hatzidakis had told the conference that “Greece is also pl...
Volume: 52Issue: 31Published at Mon, 03 Aug 2009 -
Audax Announces Reserves Evaluation, Plans Appraisal Well At Offshore Dougga Field
...oject net present value at 10% discount rate for the most likely resource is $1.134bn, assuming product prices of $80/B of condensate and $9.9/mn cu ft of gas in 2014,” Audax said in a statement on 27 July. The company plans to send an invitation to potential bidders shortly, for the drilling of an ex...
Volume: 52Issue: 31Published at Mon, 03 Aug 2009 -
Greece Emerges As Major Gas Player With Participation In South Stream Pipeline
...e 10 bcm/y gas exports to Europe anticipated from Azerbaijan’s Shah Deniz field are not expected to reach the market until 2014 or later. At the same time StatoilHydro, which controls 25% of the Shah Deniz consortium, has announced that it will join EGL in the construction of the Trans-Adriatic Pi...
Volume: 51Issue: 33Published at Mon, 18 Aug 2008