Page 13 - MEOG Week 25

MEOG
neWs In BrIeF
MEOG
PoLICy
Israel gas price warning for Egypt
CI Capital, an Egyptian investment bank, has estimated the cost of buying gas from Israel’s Delek Drilling to be US$7.5-8 per mmBtu. Domestic production costs around US$1.75- 3.5 per mmBtu, it said.
Mada Masr quoted analysts as saying the deal to import Israeli gas “does not appear to be in Egypt’s economic interest, with the cost to Egypt of imported Israeli gas signi cantly higher than locally produced gas”. Prices in Egypt have already been going up, rising by around 50% since the government began cutting back support, and this direction is likely to continue.
ComPanIes
Mohammed Ghazi Al-Mutairi
joins Petrofac as Country
Chair
Petrofac has appointed Mohammed Ghazi Al- Mutairi as Country Chair, Kuwait, recognising the multiple substantial projects and activities the company has in-country and the strategic importance of Kuwait to the Group.
Mr Al-Mutairi, who holds a BSc in Chemical Engineering from Kuwait University, brings over 32 years’ experience in the Kuwait oil and gas industry. He has signi cant leadership experience, having
served as Chairman and Board member of a number of major companies in the sector, most recently as the Chief Executive o cer of Kuwait national Petroleum Company (KnPC), and was Chairman of the Gulf Downstream Association.
is appointment is aligned to the continued role Petrofac has in the development of Kuwait’s oil and gas infrastructure and increased demand
the company sees helping clients expand both their upstream production and their downstream operations.
In his role as ambassador in-country, Mr Al-Mutairi will represent the Petrofac Group, working closely with the various parties across the entire Petrofac portfolio, in the ongoing delivery and development of the company’s full-service capability o ering and operations in Kuwait.
Roberto Bertocco, Chief Commercial o cer, said: “We are delighted to
welcome Mohammed to Petrofac. He
has played an important role in shaping Kuwait’s downstream sector, leading the implementation of some of the region’s most complex energy projects. is is a key market where our continued focus is on investing in-country and building capabilities for the future to ensure we’re part of the fabric of Kuwait for many years to come.”
Petrofac has been supporting Kuwait’s
oil and gas industry since the 1980s with a strong track record in delivery, excellent safety record and focus on enhancing in-country value by supporting local goods and services. Substantial ongoing projects include KnPC’s Clean Fuels Project, partnering with Samsung and CB&I to upgrade the Mina Abdullah re nery, creating a truly world-class facility which operates to high environmental
standards and brings production to 454,000 barrels a day. EPC contracts with Kuwait
oil Company include Gathering Centre 32 (GC32) and the lower Fars heavy oil Project, where operations and maintenance services are also being provided.
PetroFaC
serVICes
McDermott wins Aramco EPCI deal
McDermott International announced today a large contract award from Saudi Aramco for engineering, procurement, construction and installation (EPCI) services in the Marjan and Zuluf elds, o shore Saudi Arabia.
e contract includes the full suite of EPCI services for the relocation of Control Rooms in Zuluf GoSP-4, Marjan GoSP
2 and 3 including the fabrication of new control rooms, boat landings and new jacket members, as well as the upgrade of all control systems as required.
“McDermott’s extensive history with
Saudi Aramco and our commitment to the continued growth of Saudi Arabia’s energy sector is re ected in this award,” said linh Austin, McDermott’s Senior Vice President, Middle East and north Africa. “We have a long track record of executing similar upgrade projects and believe that by working closely with our clients we can o er industry leading solutions which are suited to this evolving market segment.”
e project is scheduled to be fully executed from McDermott’s Al Khobar o ce and Dammam fabrication facility, in line with
Week 25 25•June•2019
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