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April 11, 2018 - Contax Partners’ Energy Feed

ADNOC launches first ever licensing round for 6 O&G Blocks | Aramco and Total plan USD 5bn Petrochemical Complex in KSA

 

ADNOC launches first ever licensing round for 6 O&G Blocks

ADNOC launches licensingAs part of Abu Dhabi’s first ever block licensing strategy and on behalf of the Supreme Petroleum Council (SPC), ADNOC has announced the details of the initial round of 6 oil & gas blocks (2 offshore and 4 onshore) open for bidding. ADNOC has established a dedicated website – www.adnoc.ae/Block-Bid – where it provides information on the blocks and which has a portal where interested bidders can register to participate. The website also provides details of a global roadshow of technical & commercial information on the new blocks. After the roadshow, bidders will confirm their participation through an EOI and will be able to purchase a comprehensive data package on the 6 blocks. The data package will include full bidding instructions, regional geological information and well & seismic data - in both raw and interpreted form - on all six blocks.
The successful bidders will enter into agreements granting exploration rights and, provided defined targets are achieved in the exploration phase, bidders will be granted the opportunity to develop and produce any discoveries with ADNOC, under terms that will be set out in the bidding package. (Picture Source: ADNOC Website)

 

Aramco and Total plan USD 5bn Petrochemical Complex in KSA

Aramco and Total plan PetrochemicalSaudi Aramco and Total SA have announced plans to build a USD 5bn petrochemical complex near their refinery in Jubail due to growing demand in the Middle East and Asia. Both companies signed a preliminary deal for developing a mixed feed steam cracker with a capacity of 1.5mn tons/yr of ethylene and related units. The said cracker will feed other petrochemical and specialty chemicals plants which are anticipated to be built by other companies, around Total and Aramco's complex, for an estimated value of USD 4bn. The overall USD 9bn complex is expected to have a total production of 2.7 MMtpa of high-value chemicals between all facilities. Aramco and Total plan on starting FEED works in the third quarter of this year. The development of this petrochemical complex is in line with Aramco’s plan to diversify from its core business of producing crude oil to expanding into value-added products.

 

 

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