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Outlook Hazy For MENA Project Financing
...velopment following its achieving of a targeted 77mn tons/year LNG production capacity. Until the moratorium is lifted, which will not be until at least 2014, further projects will be concentrated downstream. Qatar Vinyl Company is seeking an adviser on its expansion project. Qatar has embarked on an un...
Volume: 54Issue: 52Published at Mon, 26 Dec 2011 -
Uzbekneftegaz Signs Agreement With PetroChina For Gas Supply
...bekistan’s state firm Uzbekneftegaz for the export of 25 bcm/year of gas to China through a planned third branch of the system. The third line is scheduled to be commissioned in 2014. Construction will be funded through direct investment by PetroChina’s parent firm China National Petroleum Corporation (CN...
Volume: 54Issue: 52Published at Mon, 26 Dec 2011 -
Jordan Announces Austerity Draft Budget For 2012
...5bn of this aid, which could be very timely in helping the kingdom’s growth in the next few years. The deficit (after grants) in 2012 will represent 4.6% of GDP, down from 6.2% in 2011, the minister pointed out. It is expected to fall further to 4% in 2013 and 3.5% in 2014. The kingdom’s pu...
Volume: 54Issue: 52Published at Mon, 26 Dec 2011 -
Qatar Awards $233Mn Power Deal To South Korea’s Hyosung
...oup, to construct eight electricity substations in Qatar by the start of 2014. “The contract was signed in November this year, and is hoped to be completed by January 2014,” a company spokesman told MEES. Under the terms of the $233mn deal signed with Qatar General Electricity and Water Co...
Volume: 54Issue: 52Published at Mon, 26 Dec 2011 -
Qatar’s Barzan Becomes World’s Largest 2011 Project Financing
...d and Phase 3 another 2.5bn cfd. Start-up is earmarked for 2014 and it is expected to ramp up to produce at least 100,000 b/d of condensate as well as 1.4bn cfd of gas. The main engineering procurement and construction (EPC) contractors are Japan’s JGC (onshore) and South Korea’s Hyundai Heavy In...
Volume: 54Issue: 51Published at Mon, 19 Dec 2011 -
SAFCO Awards Saipem Contract For Jubail Fertilizer Plant
...2bn ($533mn). The plant is expected to start commercial production in the third quarter of 2014. SAFCO will utilize its own resources to finance the project, according to SABIC’s Chairman and CEO and SAFCO’s Chairman, Muhammad al-Mady. The new project, he said, “will strengthen SAFCO’s operational pe...
Volume: 54Issue: 51Published at Mon, 19 Dec 2011 -
Gulf Arab Producers: We Can Guarantee Energy Security
...tional Oil Company (ADNOC) pays ExxonMobil $1/B produced. ExxonMobil has a 9.5% stake in Abu Dhabi Company for Onshore Oil Operations (ADCO), the consortium that operates Abu Dhabi’s largest onshore fields. The concession expires in January 2014. It also has 28% of Zakum Development Company (ZADCO), wh...
Volume: 54Issue: 50Published at Mon, 12 Dec 2011 -
Qatar Moratorium Continues As North Field Proves Challenging
...til 2014 while the reservoir’s depletion is studied. ExxonMobil, which has been doing the study for about four years by collecting the data from all projects in the field, requested a 2014 deadline to give it 10 years of data to work with since major production started. The North Field’s st...
Volume: 54Issue: 50Published at Mon, 12 Dec 2011 -
Iraqi Oil Sector Faces Year Of Challenge And Promise
...0,000 b/d in 2014. A new 255km, 400,000 b/d pipeline to tie in with the main Iraqi crude export line to Ceyhan is also planned at an estimated cost of $450mn, Mr Hayward, the former CEO of BP, said. The Shaikan Effect Gulf Keystone’s Shaikan field will be the largest single contributor to new KRG su...
Volume: 54Issue: 50Published at Mon, 12 Dec 2011 -
Saudi Banks Show Big Appetite For Marafiq $1.2Bn Loan
...rrent 1.0gw production capacity to 2.5gw by 2014-15. The company is working on an expansion of its plant at Yanbu' that will take output from the current 1.0gw to 1.5gw by July next year. It is also adding the Yanbu' II power plant at the site, which will produce 750mw of electricity and 60,000 cmd of...
Volume: 54Issue: 50Published at Mon, 12 Dec 2011 -
Qurayyah $2.8Bn Power Project Financing Completed
...Samsung and the MENA Fund. The project company – Hajr for Electricity Production Company – will be 50:50 owned by the developers and SEC. It will deliver electricity to SEC under a 20‐year power purchase agreement (PPA) commencing on 30 June 2014. Germany’s Siemens will provide all major eq...
Volume: 54Issue: 50Published at Mon, 12 Dec 2011 -
Iran Announces 10,000 B/D GTL Project, But Faces Hurdles
...ll start in 2012. So far, there is slow progress being made in construction of the onshore facilities and it is very unlikely that the contractor will be able to complete them before 2014-15. Offshore the project has been faster, which suggests that Phase 12 production may be ready to start before th...
Volume: 54Issue: 49Published at Mon, 05 Dec 2011