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MEOG PROJECTS & COMPANIES MEOG

Green Petrochem to

expand storage in Sharjah

UAE UAE downstream player Green Petrochem has decision was “testament” to the Sharjah emirate’s
announced plans to expand its storage capacity status as a leading global hub for businesses.
in the coastal Hamriyah free zone, in the Sharjah “We are not only providing an easy access
emirate. to regional and international markets, but also
The company has signed an agreement with offering competitive advantages, which would
the zone’s authority to lease an extra 18,600 help investors reach a large customer base in the
square metres of land for the project. fastest, most efficient and cost-effective way,” he
Green Petrochem wants to build additional said.
storage facilities elsewhere, with the aim of Green Petrochem was established six years
raising its capacity to 150,000 cubic metres. It ago and now boasts a refining capacity of 2.1mn
said the expansion was in response to increas- barrels per day (bpd). Its products include naph-
ing demand for its products. The company is tha, kerosene, gasoil, fuel oil and speciality sol-
involved in oil trading, lubricant sales, oil refin- vents like aliphatic hydrocarbon, white spirit,
ing and marine bunkering. mineral turpentine oil, solvent naphtha and
“Despite the tough economic circumstances other chemicals.
that we are going through, the company decided At the UAE’s Fujairah port, operator Brooge
to expand its operations in the free zone,” the Energy is working on a much larger expansion of
head of the Hamriyah authority, Saud Salim Al its storage facilities, aiming to raise their capacity
Mazrouei, said in a statement. Green Petrochem’s by 3.5mn cubic metres.™

TENDERS

Qatar delays Al-Shaheen tender

QATAR QATAR’S North Oil Co. (NOC) joint venture construction and installation (EPCI) contract
between Qatar Petroleum and France’s Total is to newcomer PetroVietnam Technical Services
reported to have delayed bidding for a year on (PVTS) for work on the first phase of a rede-
expansion work for the offshore Al-Shaheen velopment project known as Gallaf. Scheduled
oilfield. for completion by the end of 2020, the pack-
Speaking to Upstreamonline, project trackers age encompasses three wellhead platform and
said that bidders on the DWN-PWT project had bridges.
been informed that the process would now not Apparently eager to confirm the company’s
take place until 2021. qualification for the job, the Vietnamese firm on
DWN-PWT is reported to cover one new off- April 1 announced that the first steel had been
shore jacket weighing roughly 1,500 tonnes, and cut “only around four months from the LoI [let-
three modules with a combined total weight in ter of intent] from North Oil Co.”
excess of 2,000 tonnes. Neither Total nor QP have publicly
The sources said that NOC had received announced production targets but previous,
technical bids from Italy’s Saipem and Rosetti unsuccessful expansion efforts had aimed at
Marino, Malaysia’s Sapura Energy and France’s 500,000 bpd.™
Ponticelli for work worth $200-250mn.
Total entered the field in July 2017 after QP
had failed to reach a mutually acceptable new
agreement with the long-standing incumbent,
Denmark’s Maersk Oil. The French firm instead
took a 30% stake alongside QP in the newly cre-
ated NOC now operating the asset, and pledged
investment of $3.5bn over the first five years of
the 25-year agreement to maintain and poten-
tially increase output from the complex field.
Renewed development work has been in
progress since, and the asset produces around
300,000 barrels per day (bpd).
During Q4 2018, NOC awarded an esti-
mated $300mn engineering, procurement,

P10 www. NEWSBASE .com Week 30 29•July•2020