Archive for July, 2012

$5.4 billion funding ready to start Cheniere LNG Phase 1

Cheniere secured first phase Sabine Pass LNG funding In February, the private equity firm Blackstone Group LP (Blackstone) provided Cheniere Energy Partners (Cheniere) with $2 billion to finance Sabine Pass LNG Export Terminal conversion project. Since then Cheniere had appointed eight financial institutions to raise up to $4 billion in debt […]

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Oil sands

Definition Oil sands are bitumen deposits  which naturally occurred from the mixture of thick, heavy oil, water and sand. Since the heavy oil is classified as bitumen, Oil sands are scientifically named as Bituminous sands. Oil sands may also be called Tar sands where Tar refers to the residue produced from organic […]

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Imperial Oil awards $300 million Kearl Expansion to CB&I

ExxonMobil to boost oil sand production in Canada Through Imperial Oil Ltd (Imperial Oil), ExxonMobil is planning to double upstream production capacity in Canada in the period 2010 – 2020 supported by $30 to $40 billion capital expenditure. Imperial Oil is an ExxonMobil company based in Calgary and operating  oil and […]

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Successful “Open Door” license round in Greece

Eleven companies bidding on Ioannina, Gulf of Patras and Katakolon fields on western Greece In March 2012, Greece has launched an “open-door” bid round for three acreages in Western Greece in order to help restoring its economy. By “open door”, Greece wanted to send the message to foreign companies to be […]

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Pipelay Vessel

Definition Pipelay Vessel or Pipe Laying Vessel refers to the vessel used by the offshore oil and gas industry to install subsea all the connecting infrastructures such as pipelines, umbilicals or electrical cables Comments These subsea infrastructures may be installed to connect floating units on the surface to the seabed, […]

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Chevron qualified contractors to bid on $3 billion Gendalo-Gehem

Technip and WorleyParsons completed the FEED Chevron had awarded the front end engineering and design (FEED) for the development of Gengalo – Gehem project to:  – Technip Jakarta office in Indonesia and Houston office in Texas, USA, for the two large Floating Production Units (FPU) package  – Worley Parsons Indonesia for the Subsea and Flowline system package. From these FEED performed by Technip and […]

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Saudi Aramco and Sabic lead Middle-East downstream projects

$8.9 billion petrochemical projects awarded on H1-2012 Middle-East countries and especially Saudi Arabia have been extremely active on the Downstream sector during the first half 2012 in awarding $8.9 billion worth of petrochemical projects. Compared with last year this amount of capital expenditure represents 88% increase as only $1 billion […]

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Elastomer

Definition Elastomer comes from the contraction of elastic polymer. Elastomer refers to any material, such as but not limited too natural rubber or synthetic rubber, that is able to resume its original shape after removing a deforming force on it. Elastomer may also be called rubber. Comments Elastomer is an […]

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Sonatrach and Total in discussion again about Arzew Petrochemical Complex

Qatar Petroleum holds 10% of $3 billion Arzew project Since Total and Sonatrach had announced the giant Arzew petrochemical complex, the project had to be put on hold by the lack of ethane as feedstock to supply the cracker. This ethane should come from the Hassi R’meil natural gas fields, […]

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Abu Dhabi welcome new comers for concessions renewal

New players to bid against BP, ExxonMobil, Shell and Total With the onshore concessions expiring in 2014 and the offshore ones coming up in 2018, Abu Dhabi, in the UAE,  is to rewrite the terms of its producing fields and offer up fresh prospects. The first oil concessions covering all […]

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