Oman signs energy development deals with Shell and Total
The Government of Oman entered a memorandum of understanding (MoU) with Shell and Total for the development of natural gas resources in the country, including both upstream and downstream businesses.
As per the deal, the companies will develop several natural gas sites in the Greater Barik area of Block 6. Shell will operate this upstream project with a 75% stake, while the remaining interest will be held by Total.
The partners initially aim to produce around 500 million cubic feet per day (MMcfd) of gas and eventually increase output to one billion cubic feet per day (bcf/d) at a later stage.
Canadian Federal Government offers to cover losses on Trans Mountain project
Finance minister Bill Morneau reportedly said that the Canadian Federal Government will cover any financial risks for the planned C$7.4bn ($5.8bn) Trans Mountain pipeline expansion project carried out by Kinder Morgan.
The project seeks to increase the capacity of oil transported from Alberta to British Columbia from 300,000 barrels per day (bpd) to 890,000bpd.
Morneau was quoted by media sources as saying: “If Kinder Morgan isn’t interested in building the project we think plenty of investors would be interested in taking on this project, especially knowing that the federal government believes it is in the best interest of Canadians and is willing to provide indemnity to make sure that it gets done.”
Williams to buy outstanding Williams Partners common units for $10.5bn
US-based pipeline operator Williams reached an agreement to acquire all of the outstanding public common units of Williams Partners in a $10.5bn transaction.
The proposed transaction is aimed at simplifying the organisational structure of the group.
According to the terms of the deal, Williams will offer 1.494 shares for each public unit of Williams Partners in exchange for the acquisition of all 256 million outstanding public units of Williams Partners.
Cheniere approves Train 3 construction at CCL project in Texas, US
US-based liquefied natural gas (LNG) exporter Cheniere Energy has approved the construction of a third liquefaction unit (Train 3) at the Corpus Christi liquefaction project (CCL project) in Texas.
The positive final investment decision (FID) will allow contractor Bechtel Oil, Gas and Chemicals to continue construction that began late last year.
The project marks the first FID on new liquefaction capacity in the US since 2015, Cheniere noted.
Saudi Aramco supports SME sector with purchase of pressure vessels
Saudi Aramco signed agreements worth SAR26bn ($6.92bn) to purchase pressure vessels from 16 companies in Saudi Arabia.
The purchases were made as part of an expansion of the company’s In-Kingdom Total Value Add (IKTVA) programme, which intends to enhance local job opportunities and achieve 70% localisation by 2021.
The contracts also aim to support the small and medium-sized enterprises (SME) sector to increase localisation at all levels and disciplines, including engineers, welders and other professional skilled workers.
Glencore terminates proposed sale of Rosneft stake to China’s CEFC
A consortium comprising Glencore and Qatar Investment Authority (QIA) ended, which terminates a proposed sale of the consortium’s 14.16% stake in Russian oil company Rosneft.
The sale of the stake to CEFC China Energy was agreed last September.
This $9.1bn deal was expected to strengthen the relationship between Moscow and Beijing.
Sonatrach to use Honeywell UOP’s technologies for refinery expansion
Sonatrach selected Honeywell UOP to provide technologies for the expansion of its Skikda Refinery in Algeria.
The refinery produces high-octane gasoline and diesel that complies with Euro V standards. The new technologies will allow Sonatrach to meet growing domestic demands for cleaner-burning transportation fuels.
Under the contract, Honeywell UOP will provide an 81,000 barrels of oil per day (bpd) UOP Unicracking unit and a 24,100bpd UOP/Foster Wheeler solvent deasphalting unit for the production of ultra-low sulphur diesel.
PORR-Denys to build gas pipeline in Poland
A consortium of PORR and Denys secured a €68m contract from Polish natural gas transmission system operator Gaz-System.
Awarded through a tender process, the contract will be PORR’s second project for Gaz-System.
The deal will see PORR and Denys build the high-pressure gas pipeline Tworóg-Tworzeń, which will facilitate transportation of natural gas in the Opole and Silesia regions.
ADNOC unveils $45bn plan to strengthen downstream business
The Abu Dhabi National Oil Company (ADNOC) unveiled an AED165bn ($45bn) investment plan for the next five years to expand its refining and petrochemical operations in Ruwais.
The programme involves developing the Ruwais Industrial Complex through a combination of strategic partnerships and investments. The strategy aims to create more than 15,000 jobs by 2025 and increase its contribution to the national gross domestic product (GDP) by 1% a year.
ADNOC Group CEO and UAE Minister of State Dr Sultan Ahmed Al Jaber said: “Given the projected increase in demand for petrochemicals and higher value refined products, we are repositioning ADNOC to become a leading global downstream player.”
Real Energy finds gas pays in Tamarama-3 well in Australia
Oil and gas exploration company Real Energy encountered gas pays in the Tamarama-3 well at its Windorah gas project in Queensland, Australia.
The gas pays were encountered in the Toolachee and Patchawarra formations while drilling the well, which is located in the company’s exploration permit ATP 927P in the Cooper-Eromanga Basin.
Based on preliminary interpretation of logs, together with mud log gas readings and drill cuttings, Tamarama-3 encountered combined net pay of 59m over a 171m gross section of the Toolachee-Patchawarra formations.
