Page 9 - DMEA Week 42 2022

DMEA PIPELINES DMEA

Sipchem has headquarters in Khobar and production facilities in Jubail (Photo: Sipchem)

The company’s net profits were also down butanediol, ethyl acetate, methanol and poly-
by 38.69% on the second quarter figure of propylene had gone down while prices for feed-
SAR1.26bn ($335.5mn), while revenues stocks including butane, ethanol, ethylene and
dropped by 7.96% q/q from SAR3.19bn propane had gone up. Additionally, it noted that
($849.3mn). share profits from the company’s joint ventures
Sipchem did not comment on the reasons and associates had declined.
for the year-on-year increase in net profits and Sipchem is a privately-owned company and
revenues in the January-September period. a subsidiary of Zamil Group Holding. Its head-
It did state, however, that profits had dropped quarters are in Khobar, and its main production
in the third quarter because selling prices for facilities are in Jubail. ™

PIPELINES
Nigeria’s Oilserv shows interest in building

natural gas pipelines to Morocco, Algeria

AFRICA OILSERV, one of Nigeria’s largest oilfield ser- to make the difference in the delivery of the
vices providers, has indicated that it is ready to emerging pipeline projects in the continent,” he
participate in either of the two major natural gas declared.
pipeline projects that the national oil company Okwuosa acknowledged that Nigerian
(NOC) is considering. National Petroleum Co. Ltd. (NNPCL) had
Emeka Okwuosa, the chairman and CEO recently signed several memoranda of under-
of Oilserv, said on October 18 that his firm was standing (MoU) on the NMGP project.
interested in both the Nigeria-Morocco Gas He pointed out, though, that the NOC also
Pipeline (NMGP), which envisions the con- remained interested in TSGP.
struction of a 5,600-km offshore network, and He noted that the latter would begin as an
the Trans-Sahara Gas Pipeline (TSGP), which extension of the Ajaokuta-Kaduna-Kano (AKK)
calls for the building of an onshore network pipeline, which is being built for the purpose
from northern Nigeria to Algeria’s Hassi R’Mel of transporting gas from fields in southern
field via Niger. Nigeria to the northern regions of the country.
Oilserv already has the experience and Extending the AKK system so that it can serve
capacity necessary to carry out major pipeline as a springboard for TSGP will create another
projects of this type, he stated during an interac- route to the European market for Nigerian gas
tive online discussion with reporters. “Oilserv via Algeria, which is a major supplier to buyers
is always ready and well prepared to be able in Europe, Okwuosa stated.

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