Oil and gas news round-up

As ever, it's been a busy weekend for the Middle East oil and gas sector. Azerbaijan is to build an oil terminal in Fujairah, Shell and the China National Petroleum Corporation have concluded an agreement, a deal has been signed for future power demand in Ajman and IOEC wins an Indian oil tender.

Azerbaijan terminal in Fyjairah

Azeri state energy company, SOCAR, have said that they have agreed with a private Swiss trading house, Aurora Progress, to build an oil terminal in the United Arab Emirates' port of Fujeira, a major tanker refuelling centre.

The terminal, which is expected to be ready by the beginning of 2011, will include 20 reservoirs for shipment and storage of up to 20 million tonnes of refined oil products annually.

The terminal is expected to be used for oil products sold in this region, not Azeri-refined products. It will be managed by a joint company SOCAR AURORA, Arabian Business reported.

The first stage of the project will cost up to US$10 million and had received financing.

Oil production deal for Shell and CNPC

Shell and the China National Petroleum Corporation (CNPC) have concluded an agreement under which CNPC has acquired a 35 percent interest in Syria Shell Petroleum Development, which is currently 100 percent owned by Shell. SSPD has interests in three production licences including Deir-Ez-Zor, Fourth Annex and Ash Sham that are operated by the Al Furat Petroleum Company (Shell interest 31.25 percent), Arabian Oil and Gas report.

The agreement strengthens the partnership between Shell and CNPC. Shell has said that both parties will look to continue growing and investing in attractive opportunities in Syria's upstream industry.

Plans for future power demands in Ajman

Areva's Transmission and Distribution division have won a major order worth in the region of US$112.6 million to help meet the future power demands in Ajman. The power station will strengthen the power supply in the Northern Emirate, which currently has a population of 250,000, but is expected to grow to 2.2 million in 2030, according to estimates from the UAE Ministry of Economy.

The company will supply a 400/132 kV gas-insulated substation (GIS) for Transco, a subsidiary of Abu Dhabi Water & Electricity Authority.

The project is scheduled to be completed by 2012.

Indian oil tender for IOEC

Iranian Offshore Engineering and Construction Company (IOEC) has won a tender worth US$235 million for a major Indian offshore oil project.

A consortium of the Indian Essar Offshore Subsea Limited and the IOEC offered a quota of US$235 million and managed to get the lowest tender for India's D-1 field development project, Zawya reported.

The project, which is scheduled to last for 12 months, includes the installation of three smart well platforms along with three rigid and a flexible pipelines as well as sub-sea cables.

 

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