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January 11, 2016 - Contax Partners’ Energy Feed

K.S.A. considers Saudi Aramco IPO | SEC awards c.USD 980mn Waad Al Shamal Power Plant  | KPC plans new downstream company  |Oman awards Sohar/Ibri IPP worth c.USD 2.3bn  

K.S.A. considers Saudi Aramco IPO

Iran Energy MarketSaudi Arabia’s government is currently evaluating whether it should sell shares in its state-owned oil giant, Saudi Aramco, during this period of low oil prices. While it is not decided how much of the company will go public, it is estimated that Aramco will be valued at $1 trillion or more. With the country facing a large budget deficit due to the low oil prices, nearly $100bn last year, this sale in shares could help cover part of the losses and decrease some of the pressure felt by the government.




SEC awards c.USD 980mn Waad Al Shamal Power Plant

Waad Al shamal Power plantGE has been awarded a contract by Saudi Electricity Company (SEC) for the engineering, construction and provision of gas turbine services for the Waad Al Shamal combined cycle power plant. This contract is valued to be c.USD 980mn and is scheduled for completion in 48months. The plant will have a total capacity of 1,390 MW, out of which, 50 MW will come from a solar component. The solar energy that will be generated is expected to save the equivalent of 4mn barrels of oil over the course of the project.




KPC plans new downstream company

Kuwait downstream

Kuwait Petroleum Corporation (KPC) is planning to launch a new downstream company that will manage an oil refinery and a petrochemical plant in the southern Al Zour region. The new company, Kuwait Petrochemicals and Refining Company (KPRC), will own the Al Zour oil refinery which is currently under construction and a planned nearby petrochemicals complex. This new integrated project will be called ‘Al Zour Oil Complex. 

The launch of this new entity (KRPC) follows KPC’s decision of integrating the refinery and the petrochemicals complex into a single project. The new company will also be responsible for an upcoming gas project which will supply gas to the complex.



Oman awards Sohar/Ibri IPP worth c.USD 2.3bn

Sohar solar oman Ibri power sun

Oman Power and Water Procurement Co (OPWP) has awarded the consortium of Mitsui/ ACWA / Dhofar International Development and Investment Holding (DIDC) to develop the Sohar and Ibri IPP worth c.USD 2.3bn. While the Sohar plant is expected to generate 1,700 MW, the Ibri plant is expected to generate 1,450MW. Mitsui, as a lead investor having 50.1% shareholding, will operate both plants and sell electric power under a 15-year power purchase agreement with OPWP.






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