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October 19, 2016 - Contax Partners’ Energy Feed

Russian consortium to buy Essar Oil | Saudi Aramco awards 5th LTA to NPCC | Iran IPCs expected in NovemberTASNEEF launches new ‘Business Assurance’ company

 

Russian consortium to buy Essar Oil 

Rosneft buys EssarRussia’s state-controlled oil giant, Rosneft, and its partners - Netherlands commodities trader, Trafigura Group and Russian private investment group, United Capital Partners - agreed to purchase 98% of Essar Oil for a total value of approximately USD 12.9bn. The deal comprises of a 20mn tons per year refinery in Gujarat (India) a power plant, a port in Vadinar (India) which has a capacity to handle 57mn tonnes of crude per year and 2,700 petrol pumps. While Rosneft bought a 49% stake in Essar Oil’s refinery, port and petrol pumps, Trafigura Group and United Capital Partners will split another 49% equity equally.

 

Saudi Aramco awards 5th LTA to NPCC

Aramco awards NPCC 5th LTASaudi Aramco's Offshore Projects Department has awarded a fifth Long-Term Agreement (LTA) to National Petroleum Construction Company (NPCC). Under the contract, contractors will have the responsibility to deliver a large number of offshore oil & gas producing platforms, tie-in platforms, pipelines, power cables, and all related facilities - required under the current Master Plan for Aramco's offshore fields. While these contracts have a fixed duration of six years, there are options for extension for up to 12 years in total.

 

Iran IPCs expected in November

Iran IPCs in NovemberNational Iranian Oil Company's (NIOC) managing director, Ali Kardor, reported that Iran is expected to launch its first new tender (known as IPCs) to develop oil and gas fields next month. After months of internal discussions over the terms, the new contracts are expected to attract foreign companies. He further stated that oil companies will be able to bid for a contract to develop the South Azadegan oil field as early as November 19, and NIOC plans to award the contract by early 2017. With a total of 11 oil & gas fields available for tendering, the rest of the tenders are expected to be announced post the award of the South Azadegan oil field. Furthermore, NIOC has begun taking applications for its upstream oil & gas projects as Iran expects to sign exploration & production contracts early next year.

 

TASNEEF launches new ‘Business Assurance’ company

TASNEEF Business Assurance companyEmirates Classification Society (TASNEEF) has announced the official launch of its new company ‘TASNEEF Business Assurance’, which will offer training and certification for public and private sectors, with a focus on performance, management, and quality standards. In addition, TASNEEF Business Assurance will assist businesses with implementing government standards and improving management techniques to leverage their capabilities against international competition. This announcement was made during the launch of TASNEEF’s new headquarters in Abu Dhabi’s Aldar HQ building.

 

 

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