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Sancties Syrië voor toelevering aan olie en gas26 January 2012Vanwege de aanhoudende onrust in Syrië worden er weer extra beperkende maatregelen genomen. Niet alleen voor de handel in olie en gas van en naar dit land, maar per 19 januari 2012 is het tevens verboden om apparatuur en instrumenten aan Syrië te leveren voor de winning van olie & gas en de constructie van elektriciteitscentrales. |
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GASCO signs AED 695m LTSK contract with India's L&T21 December 2011ABU DHABI: Abu Dhabi Gas Industries Ltd. (GASCO) on Tuesday signed a lump sum turnkey (LSTK) agreement with Larsen & Toubro Limited (L&T) for the engineering, procurement, construction and commissioning of the new Habshan – Ruwais – Shuweihat gas pipeline. Engineering, procurement, construction and commissioning (EPC) The AED 695 million (US$ 189 million) agreement was signed by CEO of GASCO Mohammed Abdulla Bin Sahoo Al-Suwaidi and Member of the Board & President (Operations) of Larsen & Toubro Limited (L&T) K. Venkataramanan at the Sheikh Khalifa Energy Complex. |
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Energy capital investments in MENA region worth US$525 billion by 201619 December 2011Regional governments formulate power privatisation strategies as Middle East Electricity 2012 sets platform for more than 800 exhibitors Government privatisation plans for the power industry in the Middle East and North Africa will attract capital investment of up to US$525 billion from the private sector in the next five years, according to the Arab Petroleum Investment Corporation (APICORP).
More than two-thirds of the energy capital investment potential is located in Saudi Arabia, UAE, Iran, Qatar, and Algeria which will help to produce the additional 106.4 gigawatts of electricity planned for the region between 2012 and 2016.
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SAFCO Announces Awarding The Contract Of Its Fifth Project In Its Industrial Complex In Jubail12 December 2011Further to Saudi Arabian Fertilizer Company (SAFCO) announcement on TADAWUL on 17/11/2011 about studying the establishment of a new plant in its complex in Jubail Industrial Area (SAFCO 5), SAFCO announces that the Board of Directors held a meeting on Tuesday 06/12/2011 to discuss the technical and commercial assessment and financing options of SAFCO 5. Feasibility studies proved that the establishment of this plant is feasible. Hence, the Board of Directors has decided to award the contracts of engineering design, supplies and construction of SAFCO 5 (turnkey) to the Italian company SAIPEM. Production capacity of the plant is expected to reach 1,100,000 ton per annum of urea. |
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Saudi Arabia's Qurayyah power plant project gathers pace8 December 2011RIYADH: A consortium, led by ACWA Power (a 100 percent Saudi-owned company), recently issued notice to proceed with the construction of the largest independent power generation project in the world, Qurayyah Independent Power Project (IPP). The project, to be developed on a BOO (build, own, operate) basis, will be located at Qurayyah, on the eastern coast of Saudi Arabia adjacent to existing SEC facilities. |
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Fluor Venture in Qatar Wins Five-Year Comprehensive Maintenance Contract for RasGas6 December 2011Fluor Corporation announced in a public ceremony that Qatar National Facilities Services (QNFS), a Qatari-based company partly owned by Fluor, signed a five-year comprehensive maintenance services contract with RasGas Company Limited (RasGas) in the industrial city of Ras Laffan, Qatar. Following a competitive tendering process, the new contract was awarded to provide maintenance services for the entire complex. Fluor booked the undisclosed contract value into backlog in the third quarter of 2011. |
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Qatar, Shell agree to build $6.4 billion petrochem plant6 December 2011State-owned Qatar Petroleum and Anglo-Dutch oil giant Shell signed Sunday a heads of agreement to build a petrochemical complex in the energy-rich Gulf state valued at $6.4 billion. Qatari energy minister Mohammed al-Sada and Peter Voser, chief executive officer of Shell signed in Doha the agreement that "sets the scope and commercial principles for the development of a world-scale petrochemicals complex in Ras Laffan Industrial City," a joint statement said. |
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Gulf states to spend $45 bln through 20152 November 2011Kuwait Financial Centre "Markaz" recently published the executive summary of an updated version of their GCC infrastructure series covering: Power, Airports, Seaports, Roads & Railways, ICT and Water. For the past several years, GCC countries have made concerted efforts toward enhancing their power generation capacity in an effort to satiate rising demand due to the increase in the population and economy. Power consumption across the GCC has grown at an annual rate of about 9% from 2002; Saudi Arabia and the UAE account for a combined 75% of the total GCC consumption. |
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Barzan Gas Proj Cost Rises To $10.3 Bln2 November 2011DOHA (Zawya Dow Jones)--Qatar's oil minister said Tuesday the total cost of the Barzan development, which will produce natural gas to meet the Gulf Arab state's rising energy needs, will be $10.3 billion, higher than previous estimates. Speaking to reporters on the sidelines of an event in Doha, Mohammed bin Saleh Al Sada said the new figure would include staff and financing costs.
Barzan, a joint venture between Qatar Petroleum, or QP, and Exxon Mobil Corp. (XOM), is Qatar's most expensive energy project to date since Royal Dutch Shell's $19 billion Pearl gas-to-liquids facility, which comes on stream later this year.
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Saudi industries draw SR500 billion investment10 October 2011JEDDAH: Investments in the Kingdom's industrial sector have reached more than SR500 billion, bringing the total number of operating industries in the country to 4,952, according to a statistical report carried by the Saudi Press Agency on Saturday. "The total capital investment in the industrial sector reached SR509 billion by the third quarter of this Hijrah year," said the report, adding that the number of workers in the sector reached more than 617,000 during the same period.
Custodian of the Two Holy Mosques King Abdullah has visited the Jubail Industrial City three times since he ascended the throne in 2005. This reflects the importance given by the government to the industrial sector, the report pointed out.
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Jacobs in Yanbu power and water project10 October 2011JEDDAH: Jacobs Engineering Group said it received a contract from Saudi Arabian utility company Marafiq for the provision of project management consultancy (PMC) services at Marafiq's new integrated power and water facility in Yanbu, Saudi Arabia. Officials did not disclose the value of the contract, but noted that the overall project has a value in excess of $1 billion.
Jacobs' scope of work for the project includes project management, quality assurance, safety assurance, permitting support, engineering review, construction oversight and start-up and commissioning oversight.
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TAQA and Energy Delta Institute Partner to Develop Dutch Gas Hub10 October 201122 September 2011, Abu Dhabi, United Arab Emirates / Groningen, the Netherlands: TAQA (Abu Dhabi National Energy Company PJSC), a global energy company majority owned by the Abu Dhabi Government, is the latest associate partner to join the internationally renowned Energy Delta Institute (EDI) in a strategic partnership. The partnership contract is signed by TAQA's Managing Director for the Netherlands, Mr Jan Willem van Hoogstraten and President of EDI, Mr Eric Dam. |
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Energy subsidy driver of high use in the Middle East10 October 2011HSBC says fuel shortages are driving record investments in Gulf Per capita energy consumption in the Middle East is among the highest in the world and is growing at a rapid pace, HSBC has said in a recent report, adding that low, subsidised end-user prices are the principal driver of high and growing regional energy consumption.
"The region uses over 3,800 barrels for each $1m in GDP, over twice the global average. Yet refining capacity and gas production have not kept pace, resulting in sharply higher energy imports," HSBC said in its annual Global Energy Review report.
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Saudi Electricity To Ink SAR10.7 Bln Power Plant Contract6 October 2011RIYADH (Zawya Dow Jones)--Saudi Electricity Co. (5110.SA), or SEC, the largest listed utility in the Gulf, said Wednesday it will sign a 10.7 billion Saudi riyals ($2.85 billion) contract for the construction of its Qurayyah power plant in the eastern city of Khobar. The deal will be signed later Wednesday with a consortium that includes South Korea's Samsung C&T Corp., Acwa Power Projects Ltd. and MENA Fund, it said in a statement posted on the Saudi bourse website.
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Saudi to pump $63bn into petrochemical projects6 October 2011Global turmoil may prompt Saudi petrochemical acquisitions abroad Saudi Arabia is pumping nearly SR236 billion ($63bn) into projects to boost its petrochemical industry and maintain its position as one of the world's top chemicals producers, the Gulf kingdom's largest bank has said on Saturday.
Nearly 21 per cent of the value of the 62 projects is in the execution stage while 33 per cent is in the study phase and 18 per cent is in the bidding stage, National Commercial Bank (NCB) said in a study sent to 'Emirates24|7'.This indicates that although capacity expansions are already being undertaken, larger industry growth and project development will be onstream after 2015, NCB said, adding that projects "On Hold" also form a significant share at 14.5 per cent.
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Western contractors look to adopt South Korean model6 October 2011Executives admit that strategies need to change to compete in the Middle East process plant market Major engineering, procurement and construction (EPC) contractors from outside South Korea have said they need to adopt some of the Korean working practices to remain competitive in the Middle East.
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Abu Dhabi plans new oil field development6 September 2011ABU DHABI -- Abu Dhabi's Satah Al Razboot oil field development will start production by 2016, Abu Dhabi National Oil Company has devised a plan to soar its daily output. Abu Dhabi Marine Operating Company or ADMA-OPCO, one of the world's largest offshore oil company set the Satah Al Razboot or SARB project team in 2010 and awarded the front end engineering design, which will be completed in the middle of the year.
ADMA-OPCO produces 550,000 barrels per day or bpd of oil crude out of Abu Dhabi's 2.7 million bpd production.
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Kuwait's economy remains at the mercy of crude prices26 August 2011If global economic uncertainty pushes crude prices below USD80 per barrel, Kuwait will find it hard tobalance its USD71 billion "crazy" budget without implementing urgent structural changes. With more than 90% of public revenues coming from oil exports, the economy of Kuwait appears to be close to the point where it will find it hard to run its usual surpluses.
If oil prices drop below the USD80-per-barrel level, Kuwait, one of the richest nations in the region, would run short of revenues to balance its USD71 billion "crazy" budget, as described by one of its members of parliament.
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Offshore Middle East 2013 gains Patronage from Minister of Energy & Industry23 August 201121-23 January 2013, Qatar National Convention Centre, Doha, Qatar Offshore Middle East is delighted to announce confirmation of Patronage from HE Dr. Mohammed Bin Saleh Al-Sada, Minister of Energy & Industry for the 2013 conference and exhibition, taking place in Doha, Qatar at the Qatar National Convention Centre on January 21-23, 2013.
The patronage from His Excellency follows in a strong tradition of support from the Ministry for the Offshore Middle East conference and exhibition, having gained such patronage for the previous 2010 event, also held in Doha, Qatar.
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Contracts Awarded In Saudi Arabia Reached SR84.2 billion by the end of H1 201123 August 2011NCB Construction Contracts Index reached 205.3 points by the end of the second quarter of 2011, while the total value of awarded contracts reached SAR34.5 billion to bring awarded contracts through the first half of 2011 to SAR84.2 billion April's contract awards were valued at approximately SAR16.4 billion, led by the power and residential real estate sectors May's total value of contract awards fell to approximately SAR9.3 billion, led by the roads and petrochemical sectors
June's contract awards further dipped, with the total value of contract awards reaching approximately SAR8.8 billion led by the residential real estate and urban development sectors.
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Qatar plans $185bn projects in a decade22 August 2011DOHA: Mega projects worth a staggering $185bn are expected to be launched in Qatar over the coming ten years, says QNB Capital. It forecasts that Qatar will continue to be the fastest growing economy in the world in 2011 with an estimated real GDP (gross domestic product) of 21 percent.
According to a QNB Capital release yesterday, Qatar is currently the fastest growing economy in the world with a compounded average real GDP growth of 15.7 percent during 2006-10.
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Fluor Wins New Polymers Plant Contract in Saudi Arabia17 August 2011Plant will be first Super Absorbent Polymer facility ever built in Saudi Arabia IRVING, Texas- Aug. 16, 2011 -(BUSINESS WIRE/ME NewsWire)-- Fluor Corporation (NYSE: FLR) announced today that the company has been awarded an engineering, procurement and construction (EPC) contract by SAPCo, a joint venture company being formulated between Saudi Acrylic Acid Company and Evonik Industries, for its Super Absorbent Polymer Project (SAP) in Jubail, Saudi Arabia.
Fluor booked the undisclosed contract value in the second quarter of 2011.
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Saudi power sector moves to privatisation16 August 2011In recent years, the country, which boasts the world's largest oil reserves and is also the world's largest oil exporter, has been struggling to meet the power requirements of its fast-increasing population, which are forecast to rise from 176TWh in 2010 to 211TWh by the end of 2015. valeria camerino reports. The "power struggle": housing boom and population growth
Saudi Arabia's peak-time electricity demand is expected to record a three-fold increase in the next 20 years, Dr Abdullah Al Shehri, Governor of Saudi Electricity and Co-Generation Regulatory Authority (ECRA), said, identifying population growth, per capita consumption increase and low efficiency rates as the main demand drivers.
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Saudi to invest US$100 billion to meet energy demands8 August 2011Saudi Arabia will have to pump US$100 billion into the kingdom's power sector over the next 10 years to meet rising energy demands which are set to increase dramatically. The combined spend on both power and water investment will reach US$160 billion in the next decade, Saleh Alawaji, deputy minister for electricity, stated reported Zawya.
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SEC secures US$13.6 billion loan8 August 2011Saudi Electricity Company (SEC) was awarded a 25-year interest-free loan worth US$13.6 billion which will allow SEC to embark on emergency power generation projects this year and next year. The loan will be used to finance 70 per cent of its projects according to Ali Saleh al-Barrak, SEC chief executive. "The loan will be used to finance a number of strategic projects over the coming 5 to 6 years," Ali Saleh al-Barrak was quoted as saying by al-Arabiya TV. |
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Qatar supplies first LNG to Netherlands28 July 2011DOHA: Qatargas has announced delivery of the first Qatari Liquefied Natural Gas (LNG) cargo to the Netherlands, aboard its Q-Max vessel Al-Samriya. Al-Samriya is carrying the third and final commissioning LNG cargo for the start-up of Gate Terminal, the new regassification LNG facility located at the northern part of the existing Port of Rotterdam. This milestone marks another new market for Qatargas. |
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Aramco, Dow agree on SR75bn venture26 July 2011DHAHRAN: Saudi Aramco and Dow Chemical Co. announced Monday they had approved a joint venture to build and operate an integrated chemicals complex in Jubail Industrial City. Construction on the project, worth SR75 billion ($20 billion), is scheduled to begin immediately.
The first production units will come on line in the second half of 2015, with all units expected to be up and running in 2016.
The joint venture called "Sadara Chemical Company" will build one of the world's largest chemical facilities, producing more than three million metric tons of chemical products and plastics a year.
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Sahara Petrochemicals CA-EDC Project, Saudi Arabia20 June 2011Sahara Petrochemicals will construct a new caustic soda (sodium hydroxide) and ethylene dichloride (EDC) complex in the Jubail Industrial City of Saudi Arabia. The decision to build the complex was finalised in May 2011. The project is scheduled for completion in late 2012. Construction of the alkali complex is estimated to cost SAR2.8bn ($750m). The plant will have a production capacity of 300,000t of EDC and 250,000t of concentrated caustic soda per year. Caustic soda is a strong chemical base used in many industries such as textiles, detergents, pulp and paper, drinking water and drain cleaner. The sodium hydroxide from the complex will be mainly used for refining of bauxite to produce alumina.
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Saudi Sees Power Investments At $100B Over 10 Years - Official25 May 2011RIYADH (Zawya Dow Jones)--Saudi Arabia needs to invest $100 billion in electricity generation and distribution over the next 10 years to meet the kingdom's growing demand, which will jump as a result of new housing projects recently announced by the king, a senior official said. The combined spend on both power and water investment will reach 600 billion Saudi riyals ($160 billion) in the next decade, Saleh Alawaji, deputy minister for electricity, told Zawya Dow Jones in an interview in Riyadh Tuesday.
"We need $100 billion for the next 10 years for power projects," he said. "Two years ago, the figure was $80 billion."
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Jacobs bags Ras Tanura clean fuels, aromatics project19 May 2011JEDDAH: Jacobs Engineering Group Inc. has been awarded the Ras Tanura Refinery Clean Fuels and Aromatics Project, the first major project to be awarded under the Saudi Aramco General Engineering and Project Management Services (GES+) Contract. Jacobs is executing the project from its office in Al-Khobar. The scope of services for the Clean Fuels and Aromatics Project includes pre-front end engineering design (FEED) services.
In addition, the project includes modifications to the refinery to comply with future environmental regulations.
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Saudi Electricity To Tender 4 IPP Projects In 2 Yrs - CEO18 May 2011RIYADH (Zawya Dow Jones)--Saudi Electricity Co. (5110.SA), or SEC, the kingdom's biggest power producer, plans to tender four independent power projects, or IPPs, in the next two years with an estimated investment volume of $10 billion, the company's top executive said Tuesday. The firm has so far two large IPP projects under construction and "the third one is in the final stage of financial close with six international consortiums bidding on the projects," Ali Saleh Al Barrak told a conference in Riyadh. He didn't give any further details.
Saudi Arabia, which is struggling to supply uninterrupted electricity amid a population boom and industrial expansion, expects SEC to invest some $80 billion over the next 10 years to add 20,000 megawatts of power generation capacity.
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Saudi Needs To Invest SAR330B In Power Sector In 10 Yrs-Minister16 May 2011RIYADH (Zawya Dow Jones)--Saudi Arabia needs to invest 330 billion Saudi riyals ($88 billion) in electricity generation and distribution over the next 10 years to meet the kingdom's growing demand, state-run Saudi Press Agency, or SPA, reports Sunday. The country's power and water sector needs a total investment of SAR500 billion in the next decade," the country's water and electricity minister Abdullah Al Hussayen on SPA.
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SABIC and ExxonMobil Chemical award contracts, sign technology agreements for proposed new elastomers project16 May 2011
-Front-End Engineering Design contracts awarded
-Technology selected and license agreements signed
-Educational partner selected for vocational training center in Yanbu
Saudi Basic Industries Corporation (SABIC) and affiliates of ExxonMobil Chemical announced that Front-End Engineering Design (FEED) contracts were awarded and that all components are in FEED phase for the proposed new elastomers project at their Al-Jubail Petrochemical Company (KEMYA)* joint venture petrochemical plant.
FEED contracts were awarded to Jacobs Engineering Inc. and Mitsui Engineering & Shipbuilding for process units and to Fluor Transworld Services Inc. for associated support facilities.
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Samsung launches SR375m engineering center in Jubail12 May 2011JUBAIL: A dazzling laser show on Tuesday marked the opening of the high-tech Samsung Naffora Techno Valley, a Jubail training complex through which the South Korean engineering company expects to boost its Saudization efforts. Eastern Province Deputy Gov. Prince Jalawi bin Abdul Aziz Al-Saud and Royal Commission for Jubail and Yanbu Chairman Prince Saud bin Abdullah bin Thunayan attended the event, which was hosted by Samsung Engineering President and CEO Park Ki-Seok.
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GASCO awards two EPC contracts worth AED 4 bilion5 May 2011Abu Dhabi, 4 May 2011 (WAM) -- Abu Dhabi Gas Industries Ltd. (GASCO) has signed the following contracts agreements at its main office at Sheikh Khalifa Energy Complex on Tuesday, 03 May 2011 for Engineering, Procurement, Construction and Commissioning (EPC) works for the following projects on Lump Sum Turnkey Basis; 1. Habshan Sulphur Granulation Plant 2. Ruwais Sulphur Handling Terminal -2 The two projects are being executed in parallel with Shah - Habshan Ruwais Etihad Rail which is being implemented by Etihad Rail Company to transport granulated sulphur from Shah and Habshan Stations to Ruwais Sulphur export terminal to replace the current transportation of liquid sulphur via trucks to Ruwais. |
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Sohar Refinery expansion - Contracts awarded for basic design packages2 May 2011MUSCAT -- Three international firms have been awarded contracts to provide the basic design and engineering packages of a number of licensed units that will be an integral part of a major expansion and upgrade of Sohar Refinery. The licensed units in question are the Solvent De-Asphalting (SDA), the Once-Thru Hydrocracker unit, and the Sulphur Recovery unit.
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S. Korea's Hanwa wins $1.05 bn Saudi deal22 April 2011SEOUL, Apr 20, 2011 (AFP) - South Korea's Hanwha Engineering & Construction said Wednesday it had signed a $1.05 billion deal to build a power station and desalination plant in Saudi Arabia. The builder said it would complete the plant by 2014 under the deal with Marafiq, a Saudi Arabian power and water utility company.
The plant will be built in the Yanbu industrial complex north of Jeddah, it said.
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Oman: Korean firm bags $480m gas plant contract6 April 2011MUSCAT: Oman Oil Company Exploration & Production (OOCEP) has awarded Korea's Hyundai Engineering a $480 million contract for a gas processing plant in Musandam, a company statement said. The engineering, procurement and construction (EPC) contract is for a gas separation and oil treatment plant. The production is expected from West Bukha field -- which is offshore Musandam peninsula – after the scheduled implementation period of 36 months.
"This is a very significant project for Oman and the Musandam province. The Musandam gas plant is part of a major integrated development comprising West Bukha field development, interlink offshore pipeline, crude storage, export facilities and a gas field power plant.
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Technip wins Emirates offshore contract31 March 2011
PARIS, Mar 29, 2011 (AFP) - French oil services group Technip announced Tuesday it had secured a contract to develop an oil field offshore from Abu Dhabi.
The UZ 750 project is one of the major offshore field development projects in the United Arab Emirates.
The project aims at increasing by 2015 the oil production of the Upper Zakum field in the Gulf, 84 kilometers (52 miles) offshore from Abu Dhabi to 750,000 barrels of oil per day and for at least 25 years, the company said in a statement.
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Siemens to supply power plant in United Arab Emirates30 March 2011Follow-up order for Shuweihat power plant Siemens Energy has received a follow-up order from the Emirate of Abu Dhabi for the construction of a turnkey combined cycle power plant. The company will build the Shuweihat S3 plant together with its Korean partner Daewoo Engineering & Construction Co. approximately 260 kilometers west of Abu Dhabi. The purchaser is a consortium comprising the Japanese Sumitomo Corporation, the Korea Electric
Power Corporation and the local utility Abu Dhabi Electricity & Water Authority (ADWEA). After the scheduled start of commercial operation in 2014 the new plant will have an installed electrical capacity of 1600 megawatts. Apart from supporting Abu Dhabi to cope with growing demand it will also deliver power to the nearby Ruwais refinery.
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Chevron launches centre for energy efficiency30 March 2011DOHA: The Minister of Energy and Industry, H E Dr Mohammed bin Saleh Al Sada yesterday inaugurated Chevron's Center for Sustainable Energy Efficiency at the Qatar Science and Technology Park (QSTP). Al Sada said in his address at the opening ceremony of the Center: "Interest in sustainable energy is universal. Qatar supplies energy to the entire world and we are playing our part to conserve energy. On the emissions side, we are reducing flaring and LNG jetty boil-off, as well as conducting carbon sequestration studies. On the consumption side, we are encouraging more energy efficiency."
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Aramco, PetroChina ink pact on new refinery25 March 2011DHAHRAN: Saudi Aramco and China National Petroleum Corp. (CNPC) have agreed to build a 200,000 barrel-a-day refinery in southern China. The Saudi oil giant said in a written statement on Sunday that its subsidiary Aramco Overseas Company (AOC) signed a memorandum of understanding on March 17 with CNPC subsidiary PetroChina Co. Ltd. to build a 10-million metric tons per annum "grassroots full conversion refinery" in Yunnan province.
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Samsung wins $2.76 bn project in Saudi Arabia25 March 2011SEOUL, Mar 22, 2011 (AFP) - South Korea's Samsung Engineering Co. said Tuesday it had signed a $2.76 billion deal to build a natural gas liquid complex in eastern Saudi Arabia. Under the deal signed with Saudi Arabia's state-run oil company, Aramco, Samsung Engineering will complete the complex in Shaybah oil and gas field by June 2014.
The plant will produce 750,000 barrels of crude oil and more than 200,000 barrels of natural gas liquids a day.
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Contest for Sur IPP down to five bidders8 March 2011MUSCAT -- The race for a licence to build a huge Independent Power Project (IPP) at Sur, on the Sultanate's Sharqiyah coast, has whittled down to five bidders. AES Oasis Energy, one of six energy firms prequalified to bid for the licence, opted out of the contest, leaving fellow contenders Marubeni Corporation (Japan), Siemens LLC, Sembcorp Utilities, Enka (Turkey) and Mitsui & Co in the fray.
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Saudi power needs to triple in 20 years3 March 2011JEDDAH: Saudi Arabia's power needs will triple from a current 40 gigawatts over the next 15 to 20 years, Dietmar Siersdorfer, chief executive officer of Siemens Energy Middle East, said Tuesday. "Saudi Arabia for power generation is the biggest market and they have quite tremendous growth," he noted.
An industry report said earlier that Saudi Arabia is expected to increase its electrical power capacity by 49 percent through 2019 to meet growing residential and business energy demands. Power consumption is projected to reach 220 terawatt hours per year by the end of the forecast period with a per capita consumption increase of 9 percent.
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Kuwait to spend US$90 billion to upgrade oil and gas industry28 February 2011Kuwait Petroleum Corp (KPC) plans to spend US$90 billion in the next five years as part of its strategy to boost oil production and relaunch much of the country's stalled upstream and downstream projects which have been affected by political wrangling. Hashim Al Rifai, managing director for planning at KPC, said the investment programme included expenditure on oil investments abroad, including refineries in Vietnam and China and upgrading the oil tanker fleet as well as projects to achieve the 2020 oil production capacity target which is projected at 4 million bpd.
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CB&I Lummus wins contract for Sohar Refinery expansion28 February 2011Leading international technology firm CB&I Lummus has won a contract to provide design engineering and project management consultancy services linked to the expansion and upgrade of the nation's biggest refinery at Sohar. CB&I Lummus, which is part of the multinational engineering and construction conglomerate Chicago Bridge & Iron Company (known commonly as CB&I), led a field of sevenreputable firms that bid for the prestigious contract valued at RO 19.192 million. |
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Aramco awards Jazan refinery contract to KBR14 February 2011DHAHRAN: Saudi Aramco has awarded American construction firm KBR with a front-end engineering and design and project management services contract for the planned multi-billion-riyal Jazan refinery which is expected to process 400,000 barrels of crude everyday. |
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Jacobs Engineering wins refinery deal31 January 2011contract to design Yanbu expansion Riyadh Saudi Aramco Lubricating Oil Refining Company (Luberef) has awarded a contract to design the expansion of its Yanbu refinery to Jacobs Engineering Group.
The company said initial costs of the project, the biggest since 1997, would amount to 3.7 billion Saudi riyals (Dh3.62 billion).
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S. Korean firms to build Saudi Arabia's largest gas plant26 January 2011JEDDAH: Saudi Aramco has awarded deals to South Korean firms to build the Kingdom's largest gas plant, Wasit, it said in a statement Tuesday. South Korea's SK Engineering and Construction won three engineering, procurement and construction (EPC) deals, which involve the work for the inlet and gas facilities, sulfur recovery units (SRU) and utilities, and natural gas liquids (NGL) fractionation plants.
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STS-Tebodin wins PDO contract24 January 2011MUSCAT - The joint venture of Special Technical Services (STS) and Tebodin & Partner has been awarded the Engineering and Maintenance Contract (EMC) North by Petroleum Development Oman (PDO). This contract encompasses various small to medium size oil and gas projects in the North PDO concession area of Oman. |
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ADNOC to settle with Oxy24 January 2011ADNOC has settled with Occidental Petroleum as a partner to develop Abu Dhabi’s US$10 billion Shah sour gasfield, sources said. The Abu Dhabi National Oil Company has been seeking for international partners for the development since April after US major ConocoPhillips pulled out of the deal to focus more on exploration and away from cost-intensive downstream business. |
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SEC approves three new power plants24 January 2011RIYADH: The new budget approved by the Board of Directors of the Saudi Electricity Company (SEC) contains a number of mega projects, including the Twelfth Power Plant in Riyadh, a power generating plant in southern Jeddah and a new power generating plant to be constructed in Jizan, according to Engineer Ali Al-Barrak, Executive President of the SEC. |
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Arabs have much more gas12 January 2011Study says over 39 trillion cubic metres remain undiscovered in MENA Arab countries are sitting atop much more gas resources than is believed as massive quantities of natural gas have remained undiscovered under their land, a key Arab oil investment group has said.
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Oil and gas research flourishes at Dhahran Techno-Valley5 January 2011DHAHRAN: Oil and gas research activities are flourishing at Dhahran Techno Valley (DTV), a technology and research institution located in Dhahran, Eastern Province, which supports local and international companies to develop their products and services. |
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Qatar has 4,000MW surplus power generation capacity5 January 2011DOHA: Qatar has a massive 4,000 mega watt surplus power generation capacity, while the surplus capacity in desalinated water production is also huge at 120 million gallons a day. The country has recently invested $1bn in power and water desalination plants to cope with the current urban boom and the overwhelming development of the trade and industrial sectors, says an official from Energy Qatar Company.
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SEC to increase power generation by 12,752 MW5 January 2011JEDDAH: Saudi Electricity Co. (SEC) will add 12,752 megawatts during its 2012-2016 plan to meet the Kingdom's growing need for electricity, the company said in a statement to the Saudi bourse website Monday, citing Chief Executive Officer Ali Al Barrak. SEC expects to have a customer base of 7.9 million by the end of 2016 as demand rises amid growing population.
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GASCO awards AED 4bn contracts for Sulphur plant projects5 January 2011Abu Dhabi, Jan 01st, 2011 (WAM) -- Abu Dhabi Gas Industries Ltd. (GASCO) has confirmed the award of the Habshan Sulphur Station and Pipelines and Ruwais Sulphur Handling Terminal -2 contracts for Engineering, Procurement, Construction and Commissioning (EPC) works for the SHR Granulated Sulphur Transportation and Management Project on Lump Sum Turn key Basis. |
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Saudi Sipchem Unit Awards SAR3B Proj Deal To Korea GS Eng22 December 2010BEIRUT (Zawya Dow Jones)--Saudi International Petrochemical Co., or Sipchem, Wednesday said its unit International Polymers Co. has awarded the engineering design, procurement and construction deal for its ethylene vinyl acetate and polyethylene project to South Korea's GS Engineering and Construction Co. |
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Saudi Aramco Selects GE for $500 Million Expansion Agreements20 December 2010Shaybah Project to Enhance Oil Recovery and Support Economic Expansion SHAYBAH, Saudi Arabia--(BUSINESS WIRE)--GE (NYSE: GE) today announced it has been selected by Saudi Aramco, the state-owned national oil company, for agreements totaling nearly $500 million to supply a broad range of equipment and services for an expansion of the Shaybah gas-oil processing facilities. The project is expected to enable Saudi Aramco to enhance its oil recovery efforts and spur further economic growth in Saudi Arabia. |
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Saudi power output at 17% of MEA generation by 20149 December 2010JEDDAH: Saudi Arabia will account for 17.22 percent of Middle East and Africa (MEA) regional power generation by 2014, with a theoretical supply surplus if there is sufficient additional investment in capacity, Research and Markets said Monday. Moreover, the Kingdom's thermal generation in 2010 will have been an estimated 215TWh, or 18.88 percent of the regional total, the report said, adding that by 2014, the Kingdom is expected to account for 18.90 percent of thermal generation.
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Gulf to invest $50b in petrochems7 December 2010DUBAI - The Gulf Petrochemicals and Chemicals Association, or GPCA, on Monday said the region would sustain its exponential growth patterns with an estimated investment of $50 billion while the UAE is on track to double its output in the next five years. Dr Abdul Wahab Al Sadoun, Secretary General of the GPCA, said the Gulf region would add close to 46 per cent of the current capacity of 105.7 million tonnes to raise the output to 154.3 million tonnes by 2015.
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Qatari researcher to lead water reuse project1 December 2010DOHA: Dr Mohamad Yacob Al Sulaiti, a top Qatari researcher, will lead the recently announced ExxonMobil Research Qatar Water Reuse research programme. The programme will investigate water treating technologies and will initially focus on the identification and selection of native plant life that can naturally clean industrial water.
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Global petrochemicals forum to highlight ME growth1 December 2010DUBAI -- Global ethylene capacity is seeing dramatic change with concentration moving from developed countries such the United States and European countries to the Middle East and China. Led by Saudi Arabia, and boosted by Qatar, Kuwait, Abu Dhabi and Oman, the Middle East has built massive petrochemicals production facilities that are among the most cost competitive in the world.
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Kuwait's Equate launches first green CO2 project1 December 2010SHUAIBA - Kuwait's Equate Petrochemicals Co. launched on Sunday the oil-rich Gulf state's first green carbon project which will use more than 150,000 tonnes of carbon dioxide (CO2) annually. Under the scheme, Equate, a Kuwait-US joint venture, will capture CO2 emissions which will then be carried by a pipeline and injected into a special plant under construction, Equate president Hamad al-Terkait said.
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GCC countries to invest $272b in energy by 20159 November 2010ABU DHABI: Planned energy investments in Gulf Cooperation Council (GCC) countries are set to reach $272 billion by 2015, the chairman of the GCC Energy Working Group told a conference Monday. Of the total, $111 billion of those investments are planned in the upstream and downstream oil sectors and $108 billion for the gas value chain, Majid Abdullah Al-Moneef said.
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UAE has world's 4th largest oilfield9 November 2010Upper Zakum sits on 50bn barrels of crude and will pump 750,000 bpd. The UAE is pushing ahead with the development of the world's fourth largest oilfield to expand its output by nearly 40 per cent to 750,000 barrels per day and maintain its position as one of the top global hydrocarbon exporters. |
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Gulf states fare poorly in rankings8 November 2010Business report shows improvement by Saudi Arabia with Oman retaining its position. Saudi Arabia improved its ranking to 11, inching ahead of last year’s 12th rank.
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Takreer pursues $10b expansion8 November 2010ruwais refinery to get big capacity boost Dubai Abu Dhabi oil refining company Takreer said it has signed signed contracts worth more than Dh36.7 billion ($10 billion) this year to carry out three large expansion projects as part of its plan to develop the oil refining industry and meet future challenges.
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Saudi Arabia best country to conduct business in MENA8 November 2010JEDDAH/NEW DELHI: The Ministry of Economy and Planning has commended the Kingdom's winning the 11th position, one notch higher than last year, among the economies most favorable for doing business in the world. |
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Gulf pumps $180bn in industrial projects3 November 2010Investments in 2009 are $30 billion higher than 2008 figures |
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S.Korea's KEPCO wins 1.5 billion dollar plant order for UAE28 October 2010SEOUL, Oct 18, 2010 (AFP) - Korea Electric Power Corp. (KEPCO) said Monday its consortium with Japan's Sumitomo Corp. had won a 1.5 billion-dollar deal to build and operate a power plant in the United Arab Emirates. |
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Minister highlights Saudi 'easy oil' strength28 October 2010Ali al-Naimi, Saudi Arabia's oil minister, has rejected suggestions that the era of cheaply explored oil is over, saying that his country's largest oilfield, Ghawar, still holds at least 88bn barrels of easily extracted reserves. |
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Kuwait adds 12 billion barrels to oil reserves: report28 October 2010KUWAIT CITY, Oct 21, 2010 (AFP) - Kuwait has added at least 12 billion barrels of crude oil to its reserves, which are estimated at over 100 billion barrels, following a comprehensive study, a newspaper reported on Thursday. |
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GE wins $700m SEC contract to supply equipment, services18 October 2010JEDDAH: General Electric Co. (GE) won a contract worth $700 million to supply equipment and services for a new power plant Saudi Electricity Co. (SEC) is building outside Riyadh. |
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Saudi Acrylic JV Inks Deals With Linde, Samsung To Start Early Works18 October 2010BEIRUT (Zawya Dow Jones)--Saudi petrochemical producers Sahara Petrochemical Co. and National Industrialization Co. said Saturday their two joint ventures Saudi Acrylic Monomers Co. and Saudi Acrylic Acid Co. |
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50 billion invested in Gulf petrochemical sector -- official13 October 2010MANAMA -- Up to USD 50 billion are being invested currently in oil and petrochemical ventures in the GCC states, said the Bahraini Oil Minister on Monday. |
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Technip awarded Khafji expansion program11 October 2010PARIS -- Technip has won a near $400-million engineering, procurement, fabrication, installation, commissioning, and start-up contract for further development of the offshore Khafji field in the Neutral Zone between Saudi Arabia and Kuwait. |
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Saudi Arabia needs $50 billion new investments in desalination project4 October 2010JEDDAH: Amid freshwater scarcity, population dynamics and rapidly growing economy, Saudi Arabia - with an unlimited saltwater resources - is confronted with an urgent need to increase its sustainable supply of water. Desalination is set to be the key in the provision of clean water. |
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High oil prices boost Mena energy investment to $615bn4 October 2010Strong oil prices have boosted the projected energy investment in the Middle East and North Africa (Mena) by nearly $65 billion to around $615 billion over the next five years, an official Arab study showed Saturday. |
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World's largest oilfield to get even larger29 September 2010Saudi Arabia is planning to deploy new technology to extract more crude from the world's largest oilfield that pumps more than double the combined output of the UAE and Kuwait, its state hydrocarbon operator has said. |
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Aramco to expand refining capacity, set up new plants28 September 2010RIYADH - Saudi Aramco completed last year the largest investment program in its history costing SR375 billion which enabled it to maintain a steady production of oil at the rate of 12 million barrels per day and also enabled it to expand its refining capacity and to establish more petrochemical plants. |
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Work begins on SR12.7 billion Rabigh power plant27 September 2010JEDDAH: South Korea's Doosan Heavy Industries & Construction has begun work on a 2,500-megawatt power plant in Rabigh, 150-km northwest of Jeddah, after the Saudi Electricity Company (SEC) awarded it the SR12.7 billion ($3.39 billion) contract. |
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Indian firm wins Saudi Aramco deal23 September 2010NEW DELHI: India's engineering and construction major Punj Lloyd said on Wednesday its Saudi unit Dayim Punj Lloyd has secured a contract from Saudi Aramco for construction of a pipeline, without revealing the value of the deal. |
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Chiyoda To Help Build World's Largest Helium Plant In Qatar -Nikkei23 September 2010DOHA (Nikkei)--Chiyoda Corp. (6366.TO) will participate in the Qatar Helium 2 project, which calls for the construction of the world's largest helium production facility, one that will boast an annual capacity of roughly 40 million cu. meters of the gas, the Nikkei reported in its Tuesday morning edition. |
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UAE needs Dh80bn for power sector23 September 2010The UAE needs to invest around Dh80 billion in projects in the next eight years to expand its power generation capacity to meet a rapid rise in consumption, a government official was quoted on Wednesday as saying. |
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Saudi power production capacity up 31.4%20 September 2010Saudi Arabia's electricity power generation capacity rose by 31.4 percent in 2009 compared to the previous year, bringing the country's total capacity to 44,485MW, a report carried by the Saudi Press Agency said on Saturday. "The actual power generating capacity reached 38,680MW in 2009, registering an increase of 10.6 percent compared to the previous year," the report said, adding Saudi Electricity Company sold 274,391 gigawatts/hour in 2009 with an increase of 6.8 percent. |
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Financing for Barka 3 and Sohar 2 independent power projects in Oman completed20 September 2010On 16 September, the Consortium of Kahrabel GDF SUEZ Group (46%) with Bahwan Engineering Group (22%) and Public Authority for Social Insurance (10%) from Oman, and Japanese partners Shikoku Electric Power Co., Inc. and Sojitz Corporation (each 11%) completed the financing of the Barka 3 and Sohar 2 independent power projects in Oman. |
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S.Korea firm wins 3.42 billion dollar Saudi power plant deal9 September 2010South Korea's Doosan Heavy Industries and Construction said Thursday it had won a 3.42 billion dollar bid to build a power plant in Saudi Arabia. The company said in a statement it had received a letter from state-run Saudi Electricity Company confirming it had secured the deal.
Construction will begin this month after a contract is signed and will be completed by December 2014, a spokesman told AFP.
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Saudi SWCC Awards $2.4B Power Deal To Saudi/Chinese JV9 September 2010Saudi Arabia's state-run Saline Water Conversion Corp., or SWCC, has awarded a $2.4 billion contract to build the $2,800-megawatt electricity generation unit of the Ras Al Zour power and seawater desalination complex to a Saudi/Chinese joint venture, Middle East Economic Digest |
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Dammam to host global meet on oil and gas in October26 August 2010A former chief executive of Royal Dutch Shell, Jeroen Van der Veer, will open the third Saudi Arabia International Oil and Gas Exhibition and Conference (SAOGE) scheduled to be held in Dammam in October. International speakers will deliberate on key industry-related issues over three days starting Oct. 10.
High-profile companies, including Abdulla Fuad Holding, Sinopec, Taqa and GE Oil and Gas, are sponsoring the event.
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Fluor to manage Shah gas project, provide technology8 July 2010Abu Dhabi Fluor Corporation of the US said in a filing yesterday it has been named programme management consultant for the Shah Gas Development Project.The project is that of the Abu Dhabi Gas Development Company, a subsidiary of Abu Dhabi National Oil Company (Adnoc).Fluor said it would perform programme management consultant services and oversee the programme.The project is in Shah, about 220km southwest of Abu Dhabi city. Fluor booked the $160 million contract recently. |
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Firms line up for $2bn of Abu Dhabi sulphur facilities8 July 2010Abu Dhabi National Oil Company subsidiaries tendering three deals worth a total of $3bn Abu Dhabi National Oil Company (Adnoc) has finalised its plans for an estimated $2bn of new sulphur handling and distribution facilities as it moves to almost quadruple production of the product over the next five years.
Adnoc subsidiaries Abu Dhabi Gas Industries (Gasco) and Abu Dhabi Gas Development Company (ADGD) are in the process of tendering three engineering, procurement and construction (EPC) contracts which engineering firms believe could be awarded by the end of the year.
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SEC, consortium sign SR7.9b contract8 July 2010JEDDAH -- The Saudi Electricity Company, or SEC, has signed a SR7.9 billion contract with a consortium to build a gas-fired power plant. The signing ceremony was attended by top Saudi officials including Minister of Water and Electricity Abdullah Al Hussayen and Ibrahim Al Jomaih, chief of the Jomaih Group. A large number of senior executives of the three consortium companies the GDF Suez of France, Japan's Sojitz Corp. and Al Jomaih Holding Group also attended the event. |
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Borouge invites contractors to bid on specialist plastics plant8 July 2010Winning bidder will build cross-linked polyethylene facilities Abu Dhabi Polymers Company (Borouge) has invited around five international engineering firms to build a new specialist plastics plant as part of its third-phase capacity expansion project at Ruwais.
Borouge sent out formal invitations to bid on the contract on 17 June, sources close to the project say. The company hopes to award the engineering, procurement and construction (EPC) contract, worth around $150-200m, by the end of the year.
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Korea's plant construction orders6 July 2010The Korean Ministry of Knowledge Economy and Korea Plant Industries Association (KOPIA) announced on July 5th that total amount of overseas plant construction orders in the first half of 2010 stood at USD 33.47 billion, up 383% on a year-on-year basis. A whopping USD 18.6 billion order of building nuclear power plant facilities from the United Arab Emirates in January contributed to such a big increase.
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Firms line up for Wasit gas site preparation14 June 2010Saudi Aramco has prequalified 14 local firms for the $500m contract State energy giant Saudi Aramco has set a June bid deadline for the estimated $500m contract to prepare the site for its Wasit gas development.
The company invited around 14 contractors to bid on the contract in May, and has asked bidders to hand in technical and commercial proposals by 26 June. The deal is scheduled to be awarded in July.
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Firms line up for Jizan refinery design deal14 June 2010Prequalification documents submitted on 12 June Saudi Aramco is assessing applications from engineering firms to bid on a design and construction management deal for the first phase of its new $7bn Jizan refinery.
Contractors submitted prequalification documents for the front end engineering and design (Feed) and project management services deal on 12 June.
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Hyundai bids low for Ruwais lubricants plant2 June 2010Price of $471m is significantly lower than closest bid of $527m from Samsung South Korea’s Hyundai Engineering & Construction Company is the favourite to win a $470m-plus deal to build a new lubricants plant at Ruwais for Abu Dhabi Oil Refining Company (Takreer) after submitting the lowest price in a 16 May bid round.
The company’s $471m price for the engineering, procurement and construction contract (EPC) was significantly lower than that of the closest bidder, fellow South Korean firm Samsung Engineering, which submitted a price of $527m. Spain’s Tecnicas Reunidas was the third-lowest bidder, valuing the deal at $584m.
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Balancing Saudi Arabia’s local and export oil needs2 June 2010A rise in domestic fuel consumption and a fall in oil export revenues will test the kingdom’s economy in 2010 With oil revenues accounting for 41.8 per cent of Saudi Arabia’s gross domestic product (GDP) in 2009, it was no surprise the kingdom’s financial performance was constrained by last year’s weaker oil prices, which averaged $62 a barrel over the course of the year.
The kingdom ran a budget deficit of $11.9bn, while the value of its foreign assets shrank by $48.8bn.
An average oil price of $67 a barrel was needed for the kingdom to have balanced its budget in 2009.
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Bids opened for Ras al-Zour power and water plant2 June 2010Al-Arrab and Sepco III bid low on power generation component Saudi Arabia’s Saline Water Conversion Corporation (SWCC) has opened financial bids for the
electricity generation component of the Ras al-Zour power and water project.
The local Al-Arrab Contracting Company (ACC) submitted the lowest bid with Chinese partner Sepco III Electric Power Construction Corporation with a price of $2.45bn.
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New Aramco plan to focus on gas finds2 June 2010Saudi Arabia will give priority to finding more gas to meet a rapid increase in domestic consumption during the next five years, said the kingdom's state oil operator. Saudi Aramco, the world's largest oil producing company, said its 2011-2015 business plan would also focus on meeting global crude demand but expressed cautious optimism on its outlook. Aramco's President and CEO Khalid Al Falih outlined the five-year plan at a management meeting in the eastern oil hub of Dhahran this week, the company said in a statement on its website. |
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Fluor Awarded Series of Contracts by Ma'aden-Alcoa Joint Venture2 June 2010Work to Include PMC and EPCM Work at Ras Az'Zawr Integrated Aluminum Complex IRVING, Texas & RIYADH, Saudi Arabia--(BUSINESS WIRE / ME NewsWire)-- Fluor Corporation (NYSE: FLR) announced today that the company won a series of contracts from the joint venture comprising Saudi Arabian Mining Company, also known as Ma'aden, and Alcoa, to provide program management consultancy (PMC) and engineering, procurement and construction management (EPCM) services for a number of projects related to the development of the integrated Ras Az'Zawr aluminium complex. The estimated $10.8 billion super-project will include a bauxite mine, alumina refinery, aluminum smelter and rolling mill. In the second quarter of 2010, Fluor expects to book approximately $3 billion covering four separate scopes of work for the Ras Az'Zawr complex.
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Masdar invites interest in carbon dioxide pipelinenetwork2 June 2010Firms line up for engineering, procurement and construction management deal Abu Dhabi Future Energy Company (Masdar) has asked international engineering contractors to formally express their interest in a deal to design and oversee the construction of a huge network of carbon dioxide pipelines by early June, sources close to the project tell MEED.
Masdar’s carbon management unit sent out a formal solicitation of interest for the engineering, procurement and construction management (EPCM) contract in mid-May and has asked prospective bidders to state their interest by the first week of June, according to one engineering executive looking at the deal.
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Fluor and WorleyParsons win $2bn Maaden refinery deal1 June 2010US and Australian joint venture wins alumina refinery project after close run bidding process Saudi Arabian Mining Company (Maaden) and the US’ Alcoa have awarded the contract to build a $2bn alumina refinery in Saudi Arabia to a joint venture comprising of the US’s Fluor Corp and Australia’s WorleyParsons.
The award for the 1.8 million tonnes-a-year (t/y) facility, which will be built next to a $7bn smelter at Ras al-Zour in the kingdom, was awarded after a close run bidding process between the winners and the US’ Bechtel.
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Tecnimont bids low for Kuwait acid-gas facility1 June 2010Facility will be built at the Mina al-Ahmadi refinery Italy’s Tecnimont has emerged as the front runner to win a deal to build an acid-gas removal facility at the Mina al-Ahmadi refinery after submitting the lowest price in a 18 May bid round, a source close to the project tells MEED.
Tecnimont’s price of $399m (KD116m) is lower than rival proposals from China’s Sinopec, the UK’s Petrofac, Italy’s Saipem, GS Engineering & Construction and Hyundai Engineering & Construction, both of South Korea.
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Tecnicas Reunidas wins Ras Laffan hydrotreater contract1 June 2010Doha plans to double the refining capacity at Ras Laffan Spain’s Tecnicas Reunidas won the front-end engineering and design (Feed) contract on 10 May for an estimated $350m diesel hydrotreater and sulphur recovery unit at Ras Laffan.
International engineering firms including included the US’ Foster Wheeler, Italy’s Saipem and India’s Punj Lloyd submitted technical bids on 10 March. Laffan Refinery Company had been expected to be award at the end of March, but this was pushed back on concerns over feedstock supplies (MEED 23:3:10).
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ADMA-OPCO awards contract to NPCC1 June 2010DUBAI -- Abu Dhabi Marine Operating Company (ADMA-OPCO) has awarded an EPC contract to National Petroleum Construction Company (NPCC) to carry out the Engineering, Procurement and Construction (EPC) works for the Zakum Central Super Complex (ZCSC) Demothballing Project. The contract is valued at $350 million. |
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Zadco plans construction deals for $15bn Abu Dhabi offshore oil boost1 June 2010Offshore oil developer will tender engineering, procurement and construction deals by third quarter of 2010 Abu Dhabi offshore oil firm Zakum Development Company (Zadco) will start tendering engineering, procurement and construction (EPC) contracts on the first phase of its estimated $15bn Upper Zakum field production boost scheme by the third quarter of the year, sources close to the project tell MEED.
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Gulf states spend $50bn to boost oil capacity1 June 2010MANAMA: The oil producing countries in the Gulf region, by the year-end, will have spent approximately $50 billion to increase their current oil field production capacities or to develop new discoveries, Bahrain's Minister of Oil and Gas AffairsAbdul Hussain bin Ali Mirza said on Tuesday. Mirza, in his opening remarks at the three-day conference titled Energy Evolution Middle East, said main expansions to enhance the oil production capacity have taken place mainly in Saudi Arabia, the United Arab Emirates, Qatar Bahrain.
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KOC to invest KD 5-7 bln in 5 years28 May 2010KUWAIT -- Kuwait Oil Company (KOC) plans to invest KD five to seven billion in a range of hydrocarbon projects in the coming five years, KOC's Chairman and Managing Director Sami Al-Rushaid said here Monday. |
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Yanbu refinery financing now expected to slip into 201128 May 2010ConocoPhillips exit leaves Saudi Aramco struggling to meet ambitious timetable Saudi Aramco faces delays in financing its $10bn Yanbu refinery project that could push the finance deals into early 2011, according to sources close to the scheme.
Saudi Aramco is yet to make a decision on how to proceed with the project following the departure of the US’ ConocoPhillips as its joint venture partner.
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Kemya partners cancel Jubail storage tank deal5 May 2010Construction package will be rolled into a bigger contract to be tendered in July The partners behind the $400m-plus Al-Jubail Petrochemicals Company (Kemya) elastomers plant project at Jubail have cancelled a storage tank tender and plan to roll all of the main construction packages on the scheme into a single contract, sources close to the project tell MEED.
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Shell’s Kuwait gas deal worth $800m5 May 2010Shell is the first oil major to sign enhanced services deal in Kuwait Kuwait Oil Company (KOC) and UK/Dutch Shell Group’s enhanced technical service agreement (ETSA) covering the development of Kuwait’s northern gas fields is worth KD229.3m ($797m), according to details released by the state-owned oil company.
KOC has been in discussions with IOCs for the past four years, but until now had failed to reach an agreement. Shell became the first international oil company (IOC) to sign an enhanced services deal in Kuwait, with the European energy major signing at KOCs offices on 17 February.
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Firms push for Ruwais base oil contract extension5 May 2010Contractors ask Takreer for more time to assess costs Contractors bidding for an estimated $500m deal to build a new lubricants plant at Ruwais have asked Abu Dhabi Oil Refining Company (Takreer) for more time to prepare commercial proposals for the project.
Takreer has set a 3 May deadline for commercial bids on the engineering, procurement and construction contract, which covers a 300,000-barrel a day base oils refinery (MEED 29:3:2010).
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Adnoc awards $5.5b worth of field5 May 2010Abu Dhabi Oil giant Abu Dhabi National Oil Company (Adnoc) has awarded contracts worth almost $5.5 billion (Dh20.1 billion) to more than three companies to provide various services. Korea's Samsung Engineering and Italy's Saipem, Europe's biggest provider of oilfield services by market value, have won an aggregate of about $5 billion in contracts for gas processing, sulphur recovery and other oil and gas services.
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Litwin wins Ruwais gasoline improvement deal5 May 2010Takreer has awarded more than $10bn of contracts since 2009 Paris-based Litwin has won an estimated $20m engineering, procurement and construction (EPC) contract to improve the quality of the gasoline Abu Dhabi Oil Refining Company (Takreer) produces at its Ruwais refinery complex.
The company submitted the lowest price for the deal in a 14 March bid round and was formally awarded the contract in early April, sources close to the scheme tell MEED.
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Zadco pushes ahead with $500m Satah field5 May 2010All three main Satah contracts will be tendered by May and awarded by October Zakum Development Company (Zadco) is pushing ahead with its estimated $500m development plans for the offshore Satah oilfield in Abu Dhabi and plans to have tendered all three of the main construction contracts on the project by May.
Under Zadco’s plans, the project will see gas produced by the company injected into the Satah field to boost production to about 25,000 barrels a day (b/d) from currently undisclosed production levels (MEED 21:10:09).
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Fluor wins Qatar gas recovery deal5 May 2010Delayed jetty boil-off scheme moves ahead State-owned Qatargas has awarded the US’ Fluor Corporation the estimated $1bn gas recovery scheme at Ras Laffan Industrial City, which aims to minimise the loss of liquefied natural gas (LNG) through flaring, the company said in a statement.
Fluor will carry out the engineering, procurement and construction management (EPCM) for the scheme known as the “jetty boil-off project”.
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Saudi Arabia Eager To Diversify5 May 2010CHICAGO (Dow Jones)--Saudi Arabia is no longer content to be "the gas station to the world," and is determined to diversify its oil-rich economy by investing in manufacturing and technology businesses, the Saudi minister of commerce and industry said Wednesday. Abdulla Alireza said the country is committed to using its wealth gained from the world's largest proven oil reserves to develop a robust private business sector.
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Oman considers independent water and power5 May 2010Request for proposals to be issued in September or October Oman Power & Water Procurement Company (OPWP) is considering building a large-scale independent water and power project (IWPP) at Sur, near the eastern tip of the sultanate.
Details of the project have emerged following uncertainty over the future of two other IWPPs proposed for sites located on either side of Sur at Duqm (south) and Al-Ghubrah (north).
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Australian firm completes sulphur transport5 May 2010ConocoPhillips and Adnoc yet to make a decision on best way to transport sulphur Australia’s WorleyParsons has completed a comparative study of the two sulphur transport options for the $10bn-plus joint venture Shah gas development in Abu Dhabi, although the partners behind the scheme are yet to make a final decision on the best path to follow.
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Fluor Wins Offshore FEED Contract in Abu Dhabi5 May 2010Fluor Corporation (NYSE:FLR) announced today that its Fluor Offshore Solutions unit has been awarded a front-end engineering and design (FEED) contract by Abu Dhabi Marine Operating Company (ADMA-OPCO) for offshore facilities located 120 kilometers off the northwest coast of Abu Dhabi City. The Satah Al-Razboot (SARB) Full Field Development Project includes an untapped oil field that will prospectively pump 100,000 barrels per day. Fluor booked the undisclosed contract value in the first quarter of 2010.
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Experts suggest Saudi Arabia develop5 May 2010ALKHOBAR: A Saudi Aramco executive has shared a bold vision of the future in which renewable and nuclear energy power the Kingdom's domestic economy and massive solar farms in the Rub Al-Khali feed into an intercontinental Eurasian electrical grid. Mohammed Ali Trabulsi, Saudi Aramco's executive director of pipelines, distribution and terminals, explained his ideas on Sunday as part of a renewable energy lecture series at the Movenpick Hotel. The lecture series was organized by the Center of Research Excellence in Renewable Energy at King Fahd University of Petroleum and Minerals.
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Qatar begins prequalification for Barzan5 May 2010Delayed gas scheme to be tendered by June State-energy firm Qatar Petroleum (QP) has begun the pre-qualification process for its long-awaited Barzan gas recovery project.
Contractors submitted pre-qualification documents to QP’s office at the end of March. A short-list is expected to emerge by the end of April or early May, an executive at a bidding contractor tells MEED.
QP invited at least 10 international contractors to express interest in the four EPC deals to build on the scheme in November last year (MEED 18:12:09).
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Belleli wins Vopak Fujairah oil terminal expansion deal5 May 2010Italian firm wins main construction deal on estimated $100m expansion Italy’s Belleli has won the main engineering, procurement and construction (EPC) contract on Fujairah -based Vopak Horizon’s estimated $100m expansion of its oil terminal in the northern emirate, sources close to the project tell MEED.
The Italian engineering firm will add 600,000 cubic metres of storage facilities to the terminal under the deal, which was formally awarded on 15 April. Its current storage capacity is 1.5 million cubic metres.
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Saipem looking Shah gas subcontractor29 April 2010Italian firm is low bidder on three out of five packages on Abu Dhabi gas scheme Italy’s Saipem is looking for a new subcontractor to work on an estimated $1.4bn engineering,procurement and construction (EPC) deal it hopes to win as part of the wider $10bn-plus Shah gas development in Abu Dhabi. |
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ConocoPhillips quits $10bn Shah gas development29 April 2010Office of Adnoc chief executive confirms departure Abu Dhabi National Oil Company (Adnoc) has confirmed that the US’ ConocoPhillips has formally quit the $10bn Shah gas development. The office of Adnoc chief executive Yousef bin Omair bin Yousef tells MEED that: “They will go, we will release a press release this afternoon [28 April].”
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Ibn Rushd moves on Yanbu plastics expansion tender21 April 2010Yanbu deal is part of scheme to produce more polyethylene terepthalate Saudi Arabia’s Arabian Industrial Fibre Company (Ibn Rushd) has started the bidding process for a $400m contract to build a new plastics plant at its Yanbu petrochemicals complex.
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Aramco changes plans for $30bn of downstream projects20 April 2010Ras Tanura refinery expansion scrapped as $17bn petrochemicals complex moves to Jubail. Saudi Aramco’s decision to move its biggest ever project to Jubail from Ras Tanura will see the company scrap an $8bn refinery development and make major changes to schemes worth an additional $17bn.
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Consortium bids low for $475m Shah pipelines1 April 2010Contract is part of $10bn sour gas scheme being developed by ConocoPhillips and Adnoc. Contractors have named a consortium of Spain’s Tecnicas Reunidas and India’s Punj Lloyd as the low bidders on a contract to build an estimated $470m gas gathering system at the Shah gas field in the south of Abu Dhabi.
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Al-Khafji plans to develop offshore Dorra gas field24 February 2010Field is in disputed Divided Zone between Kuwait and Saudi Arabia Kuwait and Saudi Arabia are moving ahead with plans to develop the offshore Dorra gas field. It lies in a formerly disputed area along the border between the two countries.
Al-Khafji Joint Operations (KJO), the Saudi/Kuwaiti operator which works in the Divided Zone between the two countries, has appointed two international engineering and design firms to work on a full-field development plan for the reservoir, according to a source working on the project.
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Worley Parsons to design Kuwait heavy oil facilities24 February 2010KOC plans to produce crude from fields in the north of the emirate Australia’s Worley Parsons has been selected to design oil production facilities in northern Kuwait, according to sources close to the deal.
The engineering and design firm is one of the three companies that state oil and gas producer Kuwait Oil Company (KOC) uses as an in-house project management and design contractor.
MEED reported in November 2009 that KOC planned to ask Worley Parsons, the US’ Fluor, or the UK’s Amec to design the facilities.
The decision to use Worley Parsons was made in early January, according to a KOC adviser.
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Shell signs Kuwaiti gas field deal22 February 2010International oil company to help state firm develop and manage Jurassic fields The UK/Dutch Shell Group has become the first international oil company (IOC) to sign an enhanced services deal in Kuwait after similar contracts were allowed to lapse in 2008 and 2009.
The European energy major signed the enhanced technical service agreement (ETSA) at the offices of state oil and gas developer Kuwait Oil Company on 17 February, according to a Shell statement issued on the same day.
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Saudi Electricity Company plans power projects worth $20bn18 February 2010Utility plans to use more financing from private sector. Five independent power projects (IPP) worth a total of about $20bn should be completed in Saudi Arabia by 2019, according to Amer al-Swaha, head of the IPP programme at Saudi Electricity Company (SEC)
The state-owned firm is the largest utility in the Gulf.
Al-Swaha said the projects are expected to generate a total of 8.8GW of power. He was speaking at MEED’s Middle East Project Finance 2010 conference in Bahrain on 16 February.
The projects include the Riyadh PP11 and plants at Qurayyah, Dheba, Shuqaiq and Ras al-Zour.
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Firms mull $20bn Saudi petrochemicals complex4 February 2010Scheme will produce 45 petrochemical products Saudi Arabia’s Nabaa Industrial Development and Investment Company and Japan’s Mitsui & Company are conducting feasibility studies for a $20bn petrochemical complex at the Red Sea port of Yanbu, Reuters reports.
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Aramco To Spend $120B On Projects Over Next 5-6 Years1 February 2010DUBAI (Zawya Dow Jones)--Saudi Arabian Oil Co., or Saudi Aramco, plans to invest around $120 billion over the next five to six years in the oil and petrochemicals sectors, the firm's chief executive told Al Arabiya television Sunday. "Over the coming five to six years the total investment for Saudi Aramco will be around $120 billion," Khalid Al Falih told the Dubai-based station.
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Saudi raises investment by 16 percent23 December 2009Saudi Arabia expects its fiscal deficit to rise to $18.67 bn in 2010 as it raises investments to spur the biggest Arab economy and create jobs for its fast rising young population. The top OPEC exporter, which has largely shrugged off global turmoil and the Dubai debt crisis, plans to increase investments by 16 percent to $69.4 bn in 2010 despite revenues falling to $125.4 bn from $134.7 bn in 2009. John Sfakianakis, chief economist at Banque Saudi Fransi in Riyadh said:"It's a very confidence boosting budget which should help bring more confidence going forward given the huge capability of the Saudi state to support its spending,”. |
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Saudi to see fall in income from petrochemicals15 December 2009Saudi Arabia's petrochemicals income is expected to plunge in 2009 due to lower products prices but will sharply rebound in 2010 after the commencement of a major joint venture with China, a Kuwaiti investment centre said. Global Investment House (GIH) said it had revised up its early projections about the earnings of the Gulf kigndom's petrochemicals giant, Sabic, for 2009 because of better products prices and capacity utilisation.
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PIW Again Ranks Saudi Aramco No. 115 December 2009NEW YORK -- Petroleum Intelligence Weekly (PIW) has released its annual list of the rankings of the world's 50 largest oil companies, and in what has become a 21-year streak, Saudi Aramco is No. 1.
That hold on the top spot seems unlikely to loosen, as mega-projects in a 2-million-barrel-per-day crude-oil-capacity expansion program are at or near completion. On top of that, expansion continues in the refining, gas and petrochemical sectors, according to a latest report carried by Saudi Aramco"s Web-site.
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Value of Saudi projects put at $586 billion10 November 2009The value of ongoing and planned projects in Saudi Arabia is estimated at $586 billion (Dh2.15 trillion), according to a report. The report by marketresearch.com said the estimated amount represented around 128 per cent of country's gross domestic product. While office rental prices have held up in Riyadh, several supply issues have placed pressure on prices in Jeddah. |
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Dutch Energy Solutions creëert kansen voor Nederlandse energiesector in de Golfregio4 November 2009Zoetermeer, 4 november 2009 – Op maandag 2 november heeft de kick-off plaatsgevonden voor het 2g@there programma Golfstaten Dutch Energy Solutions. Onder belangstelling van 130 CEO’s en managers van Nederlandse olie- en gastoeleveranciers gaf Hans de Boer, directeur Vereniging IRO, de aftrap. De belangrijkste doelstelling van het programma is kansen creëren voor de Nederlandse energiesector in de Golfregio. De Golfregio is de grootste olie- en gasproducent ter wereld en biedt veel mogelijkheden aan de Nederlandse olie- en gastoeleveringsindustrie. |
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