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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: 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 -
Qatar Eyes Iran As Tehran Pushes Shared Oil Field Development
...possible for Qatar to produce an accurate computer model of the depletion rate, at a time when Doha has imposed a moratorium on future major development projects before 2014, while it studies the field. Tehran’s Concerns Tehran is concerned that the Qatari gas development – which is far in front of Ir...
Volume: 53Issue: 30Published at Mon, 26 Jul 2010 -
Eni Discusses Upstream Expansion In Azerbaijan
...ilure to clear the Burun acquisition with Asghabat before completing the deal. Eni also expects its gas availability to increase through its equity in Petronas offshore fields, where total gas production is intended to reach 8-10 bcm/y by 2014-15. However, there are doubts over the economics of the CNG ex...
Volume: 53Issue: 30Published at Mon, 26 Jul 2010 -
Vitol To Build New Oil Terminal In Cyprus
...elling its electricity generation by 2014, and has already compiled a shortlist of potential LNG providers. Meanwhile, the island’s electricity authority is currently seeking partners for the development, financing and operation of an LNG storage and regasification terminal – also at Vasilikos – expected to...
Volume: 53Issue: 30Published at Mon, 26 Jul 2010 -
ERC’s $2.35Bn Musturud Refinery Project Financing Nears Completion
...ntractors are Japan’s Mitsui and Korea’s GS Engineering, and the expansion and upgrading is being implemented as a lump sum turnkey (LSTK) contract. Completion is planned for 2014. Construction is scheduled to begin shortly after financial close, although some long lead time items have already been ordered....
Volume: 53Issue: 30Published at Mon, 26 Jul 2010 -
BP Sells Off Egyptian Assets To Apache To Help Fund Oil Spill Clean Up
...rst gas anticipated for late 2014. Other BP projects in Egypt include the Pharaonic Petroleum Company (PhPC) joint venture with the Egyptian Natural Gas Holding Company (EGAS), which operates gas assets in the Nile Delta, and the Gulf of Suez Petroleum Company, a joint venture with EGPC. Its also su...
Volume: 53Issue: 30Published at Mon, 26 Jul 2010 -
IMF Expects Kuwait’s Economy To Rebound In 2010
...scal year ending March 31, eg 2007 refers to fiscal year 2007-08. 3. In 2006-07 KD2bn was transferred to partly cover the actuarial deficit of the Public Pension Fund. In 2008-09, KD5.5bn was transferred. KD1.1bn is budgeted for each year from 2010-11 to 2014-15. 4. Excludes investment income and pe...
Volume: 53Issue: 30Published at Mon, 26 Jul 2010 -
Oman To Request Proposals For New IPP At Sur
...wer ahead of summer peak demand in 2013, with full commissioning of the facility slated to coincide with summer peak demand in 2014. The site is ready for construction, with access to the sea and with gas available via an existing pipeline that feeds a nearby LNG plant, the company said. OPWP had or...
Volume: 53Issue: 30Published at Mon, 26 Jul 2010 -
Industry Questions Absence Of Major In Abu Dhabi’s Shah Gas Project
...train (MEES, 17 May). The plant will supply around 540mn cfd of gas into the UAE grid, with the bulk of the waste gas being toxic and corrosive hydrogen sulfide, by the third quarter of 2014. “The project can only be operated safely in a partnership with a major,” a UAE source told MEES. The te...
Volume: 53Issue: 29Published at Mon, 19 Jul 2010 -
Construction Begins On Ras Al-Zour Aluminum Smelter
...uor and WorleyParsons were sent a letter of intent for engineering, procurement and construction management (EPCM) services for the bauxite mine and alumina refinery, which will have initial capacities of 4mn t/y and 1.8mn t/y, respectively, and will come online by December 2014. Fluor was meanwhile se...
Volume: 53Issue: 29Published at Mon, 19 Jul 2010 -
BP Courts Potential Gulf Investors
...so 14.67% in ADMA for the offshore sector (along with ADNOC, Total and Japan Oil Development Company). The former expires in 2014, and the latter in 2018 (MEES, 4 May 2009). It also holds an interest in the proposed Hydrogen project with Masdar (MEES, 28 June). The company’s other large holdings in th...
Volume: 53Issue: 28Published at Mon, 12 Jul 2010