September 28, 2017 - CONTAX PARTNERS’ ENERGY FEED

Petrofac wins FEED contract with KOGAS in Iraq | BP begins production at the Khazzan Field| ABB to acquire GE’s Industrial Solutions for USD 2.6bn

Petrofac wins FEED contract with KOGAS in Iraq

Petrofac has been awarded a FEED modification contract for KOGAS AKKAS B.V. (KOGAS’) Nasiriya Gas Treatment Plant (GTP) in southern Iraq. The company's scope of work includes the modification and application of an existing field design to meet the needs of the Nasiriya GTP, and an estimation for the EPC costs in line with the revised design requirements.

BP begins production at the Khazzan Field

BP has commenced production from its phase one development of the Khazzan gas field in Oman which involves 200 wells feeding into a two-train central processing facility, with production set to plateau at 1 billion cubic feet per day (Bcfd) of gas. The second phase, known as Ghazeer, will see this rise to 1.5 Bcfd, with an estimated 300 wells to be drilled over the lifetime of the field. The two phases combined are expected to produce an estimated 10.5 trillion cubic feet of recoverable gas resources. Total capital expenditure for phase one is approximately USD 12bn – a 25% reduction compared to the original development plan.

ABB to acquire GE’s Industrial Solutions for USD 2.6bn

ABB has announced that it will acquire GE Industrial Solutions, GE’s global electrification solutions business, for c.USD 2.6bn. ABB believes that with GE Industrial Solutions, it will be able to strengthen its number 2 position in electrification globally and expand its access to the North American market where GE Industrial Solutions has a strong presence. The transaction is expected to close in H1 2018, subject to customary regulatory clearances.