Page 12 - MEOG Week 47.pdf

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day of an Africa investment forum, one of the first major events to be held on the site of the new administrative capital being built in the desert east of Cairo.
The city is one of a number of mega- projects launched under President Abdel Fattah al-Sisi, and will include ministries, a business district, a diplomatic quarter, residential districts and a large park.
The first civil servants are expected to arrive next year, though much of the site is still earth and sand and the project has run into delays and financing problems.
Egypt has held the chair of the African Union this year and has been trying to promote itself as a linchpin for African trade and economic development. It is also seeking to position itself as an energy hub and a regional leader in renewable energy.
Among the other accords announced
on Saturday, Amsterdam-based Lekela
said it would start construction work on
its West Bakr wind power plant, which will have a capacity of 250 megawatts at a total investment of $350 million, the cabinet said.
Lekela CEO Chris Antonopoulos said Siemens Gamesa would build the plant in the Gulf of Suez, creating an expected 550 jobs, according to the cabinet statement.
Egypt also signed an agreement with
the European Bank for Reconstruction and Development (EBRD) worth $201 million to improve the Egyptian Electricity Transmission Co’s electricity grid. The lender will also finance a new asphalt production unit for the Suez Oil Processing Co worth $50 million.
The EBRD signed further deals with Sarwa Capital Holding and state-owned Banque Misr to issue 500 million Egyptian pounds ($31.13 million) in securitisation bonds for the government’s New Urban Communities Authority (NUCA).
Government-owned NUCA is
developing the as yet unnamed new capital. The International Islamic Trade Finance Corporation and the African Export–Import Bank also made available the first $100 million tranche of a $500 million loan to boost
Egypt’s trade with other African and Muslim countries.
reuters
serViCes
CGG sets up geoscience centre in Abu Dhabi
CGG has set up a regional geoscience centre in Abu Dhabi to deliver geophysical, geological and reservoir technology and support to oil and gas companies across the Middle East
The existing Abu Dhabi CGG centre has almost doubled in size to welcome the arrival of a team of geoscience experts in vital technical disciplines to complement its existing seismic imaging and geoscience software teams.
Clients can now enjoy local access to experienced carbonate sedimentologists, structural geologists and petrophysicists,
as well as reservoir engineering and geomechanics experts from CGG’s Robertson Geology and Reservoir Sciences teams. In addition, CGG has seismic inversion, satellite mapping and multi-physics imaging experts available in the region.
By increasing its geoscience presence
in the Middle East, CGG is reaffirming its commitment to an important region where it currently has a high level of activity. As well
as technical services, clients can now benefit from CGG’s GeoTraining capability to develop their in-house talent with tailored geoscience training and learning path programmes.
Peter Whiting, senior vice-president Geoscience EAME, CGG, said, “CGG’s Middle East Regional Geoscience Centre in Abu Dhabi now offers much more than the excellence in seismic imaging for which it
has been well known since its launch in 2001. It will serve as a strategic technology centre where our clients can engage directly with our highly experienced team of geoscientists to
meet their technical challenges and business needs.”
CGG
Baker Hughes opens new
wellhead facility in Abu
Dhabi
Baker Hughes has opened its new wellhead facility in Abu Dhabi, in partnership with its local channel partner, Al Ghaith Oilfield Supplies and Services
The 1,200 sq m facility will support wellhead repair and maintenance activities, providing greater equipment availability and faster turnaround times for customers in the UAE and across the Middle East.
The site will be fully operational within
the next month, with the potential to expand in the future. This next phase would include the addition of chemical storage, cement bulk plant, wireline fluids and pressure pumping, as well as a digital solutions lab.
Ahmed Mousbah, vice-president, MENAT, Oilfield Equipment at Baker Hughes,
said, “The new wellhead assembly, repair
and service facility in Abu Dhabi further underlines our commitment to be closer to our customers and to create In-Country Value through enhanced local capabilities.
“With our growing footprint in the UAE and the region, this expansion supports our focus on delivering advanced equipment and services to our customers to help them achieve higher operational efficiency and productivity.”
Atif Arikat, CEO, Al Ghaith Oilfield Supplies and Services Abu Dhabi local distributor for Baker Hughes SPC, commented, “Partnering with Baker Hughes on this new facility will further enable us to serve our customers and create a local supply chain for the industry.
“In addition to meeting the demand for wellhead equipment, the advanced service facility will ensure timely maintenance that will enable our customers to achieve increased uptime. With this facility, we are contributing to added In-Country value generation that differentiates Baker Hughes and our services.”
Baker Hughes facilities in the UAE include four workshops and manufacturing sites covering wireline, completion systems, coil tubing, drilling systems, pressure pumping, artificial lift and measurements and control. bhGe
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Week 47 27•November•2019