Page 18 - MEOG Week 25

MEOG n e W s in B rie F MEOG

understanding (MoU) on this co-operation, KBR’s key recent contracts in Africa G as
KBR said on June 19, noting that they would and the Middle East include an order for
specifically target projects in India, Southeast project management consultancy services ADNOC attracts investors to
Asia, the Middle East and Africa. at the Ghasha gas development in the UAE,
Under the deal’s terms, KBR will license and a deal to plan upgrades at Nigerian gas pipeline spin-off
proprietary technology and engineering petrochemicals plants. The latter contract
services, while LThE will serve as the EPC will see KBR partner with Nigeria’s National A consortium of investors has agreed to
services provider. KBR will also provide its Engineering and Technical Co. (NETCO) to acquire a 49% stake in ADNOC Gas Pipeline
solid acid alkylation (K-SAATTM), solvent provide front-end engineering design (FEED) Assets LLC.
de-asphalting (Rose) and catalytic olefins work at four greenfield plants. The latter is a newly formed subsidiary of
(K-COTTM) technology. Bne ADNOC with lease rights to 38 gas pipelines
K-SAATTM offers a high alkylate yield in the UAE, covering a total of 982.3 km (610
and high feed flexibility, while Rose has mi), with ADNOC holding a 51% majority
more than a 90% market share among oi L interest. The gas pipeline network connects
solvent de-asphalting technologies, KBR ADNOC’s upstream assets to local UAE off-
said. K-COTTM converts low-value olefinic, Kuwaiti oil price down to takers
paraffinic or mixed streams into high-value The investors comprise Global
propylene, ethylene and aromatics. $36.92 pb Infrastructure Partners, Brookfield Asset
“This MoU brings together KBR’s century- Management, Singapore’s sovereign wealth
long technology expertise and LThE’s The price of Kuwaiti oil went down by 70 fund GIC, Ontario Teachers’ Pension Plan
strong capability as a major EPC player and cents to USD 36.92 per barrel on Monday Board, Nh Investment & Securities and
modular solution provider,” KBR’s president after it was USD 37.62 pb last Friday, said Snam.
for technology solutions, Doug Kelly, said in the Kuwait Petroleum Corporation (KPC) They plan to invest in select ADNOC gas
a statement. “KBR’s innovative and reliable Tuesday. pipeline assets valued at $20.7 billion.
process technologies have been helping At the global level, the price of the Brent ADNOC will lease its ownership interest in
refineries and petrochemical plants globally crude went up by 89 cents to USD 43.08 the assets to its new subsidiary for 20 years in
to optimise production and reduce operating per barrel, the same case with the West return for a volume-based tariff, subject to a
costs.” Intermediate, which rose by 90 cents to USD floor and a cap. The transaction should net the
LThE is a subsidiary of Indian engineering 40.73 pb. company more than $10 billion.
and construction conglomerate Larsen & menaFn oFFshore
Toubro.

P18 www. NEWSBASE .com Week 25 24•June•2020