IGB launch date reset for first quarter of 2020 in revised project plan
Construction work on the prospective IGB (Greek-Bulgarian Interconnector) has been rescheduled to start within 2018 and the commercial launch set for the first quarter of 2020, according to the project’s latest timeline revision, presented by its contractor, ICGB, to European Commission officials in Brussels late last month.
ICGB presented its revised IGB plan as part of the effort to seek PCI (Projects of Common Interest) classification, which would ensure EU funds. Other European PCI candidate projects were also presented by their developers.
The IGB, whose length and diameter are planned to measure 182 km and 32 inches, respectively, will link Komotini in Greece’s northeast with Stara Zagora in Bulgaria.
Its development schedule has been pushed forward in time on a number of occasions, the latest shift caused by recent elections in Bulgaria.
As a result, a crucial third market test, during which prospective IGB users will need to submit binding offers for capacity reservations, will be rescheduled. Authorities had planned to stage the test in May or early summer.
Temenuzhka Petkova’s return, last week, to the helm of Bulgaria’s energy ministry has been viewed favorably. Regarded as being a staunch supporter of the IGB project, Petkova is expected to move fast in an effort to make up for lost time.
Officials keeping a close watch on the project’s developments believe the IGB will be developed with or without the third market test.
Concurrent progress is also being made on the floating LNG terminal in Alexandroupoli, another prospective gas project in Greece’s north. Gastrade, supporting the project’s development, plans to have completed its FEED (Front-End Engineering and Design) study by late June. Contractors and shipyards are then expected to be commissioned to construct the project’s various segments.
Gastrade is currently also exploring financing options for the project, whose total budget is estimated between 350 million to 370 million euros. Roughly half of this amount is expected to be provided by the company itself. Loans by Greek and foreign banks as well as EU funding will be sought for the remainder.
BP has started production from its West Nile Delta development in Egypt eight months early and under budget.
The project comprises five gas fields across the North Alexandria and West Mediterranean Deepwater offshore concession blocks.
The first two fields, Taurus and Libra, have started producing gas as part of the first phase of the project.
The other three, Giza, Fayoum and Raven, will follow in 2019.
BP is the operator with a 82.75% stake, while DEA Deutsche Erdoel AG holds the remaining 17.25%.
BP chief executive Bob Dudley said: “West Nile Delta is a strategic national project that will add significant gas production to the Egyptian market and is another example of BP’s commitment to Egypt.
“Our continuing investments in the country, including West Nile Delta, Atoll and our recent investment in Zohr, are laying the foundations for growth for BP in Egypt well into the future.
“It is also another important step in BP’s growing production from high-quality new projects – in total, the West Nile Delta project will account for around a quarter of the new production we expect by 2020.
“Coupled with the series of important agreements that BP has recently made around the world, the continuing start-ups of these projects demonstrate momentum and a return to growth across BP.”
Total (LSE:TTA) and one of Africa’s newest oil producers, the Islamic Republic of Mauritania have signed an exploration and production contract.
The French supermajor and the West African country are to perform exploration works on Block C7, which covers an area of 7,300 square kilometers.
The group will be the operator with a 90% interest alongside the Société Mauritanienne des Hydrocarbures et de Patrimoine Minier (SMHPM) holding the remaining 10%.
Guy Maurice, senior vice president, Africa at Total Exploration & Production, met with Mohamed Abdel Vetah, Minister of Petroleum, Energy and Mines of the Islamic Republic of Mauritania to agree the deal.
Afterwards, he said: “This agreement is part of Total’s strategy to explore new deepwater basins in Africa.
“The addition of the C7 block to our existing C9 deepwater license creates a contiguous exploration area of around 17,000 square kilometers in a high-potential zone in offshore Mauritania.”
Total has been present in Mauritania for nearly 20 years.
The firm is the only oil and gas major active in the marketing of petroleum products in the country, with a retail network of 38 service stations. The group holds a 90% interest in the C9 exploration license (10,150 square kilometers), located in the deep offshore.
Total also operates the onshore Ta29 exploration license (12,500 square kilometers) in the Taoudenni Basin.
Topsoe technology chosen for large Uzbek gas-to-liquids project
“In English, OLTIN YO’L means 'golden road' and this project will help set Uzbekistan on a golden road of development. We will produce some of the cleanest and most advanced transport fuels in the world and we will add one of the world's most advanced technologies to Uzbekistan's already impressive energy industry. Topsoe’s world-leading synthesis gas process is a very welcome contribution,” says Fakhriddin Abdurasulov, General Director, OLTIN Y’OL GTL.
OLTIN YO’L GTL be one of the most advanced energy plants in the world. Based on the rich natural gas resources in Uzbekistan, it will produce high quality synthetic fuels that secure lower emissions from transport and aviation and improves air quality.
“We are very proud to be part of this technologically advanced project and the development of Uzbekistan’s industry. And we are delighted that our state-of-the-art synthesis gas solution has been selected for the project by Hyundai Engineering, and our long-term strategic partner Sasol,” says Per Bakkerud, Executive Vice President, Topsoe.
Topsoe’s synthesis gas technology is the first fundamental step of the Sasol’s Slurry Phase Distillate Process™, which is the core process of the plant. Sasol Technology has been appointed single point licensor, and Hyundai Engineering Co. is the engineering, procurement, and construction (EPC) partner.
Wood Group Awarded NCOC Framework In Kazakhstan
Wood Group has secured a new framework agreement to provide study engineering for North Caspian Operating Company's (NCOC) offshore and onshore asset portfolio in Kazakhstan.
The contract extends Wood Group's support of NCOC. The company is currently delivering the concept and pre-FEED for the Kalamkas-Khazar co-development project. It also holds a multi-year engineering, procurement and construction contract in support of Kashagan operations, through its joint venture PSN KazStroy JSC.
Dave Stewart, CEO of Wood Group's Asset Life Cycle Solutions business in the eastern region said: "The trusted partnership developed with NCOC, based on our proven track record of safe and efficient services and innovative technical solutions, is demonstrated by the award of this new framework agreement.
"Wood Group has been present in the region for over 10 years. We will combine our strong knowledge of the area, global expertise across the asset lifecycle and experience of the engineering, planning and construction criteria required to operate successfully in harsh and complex environments to support NCOC's diverse asset portfolio.
"We have demonstrated our commitment to investing in the development of local talent in Kazakhstan, and have cemented strong relationships with the region's supply chain. We will remain firmly focused on maximising regional employment opportunities and leveraging our partnerships with local companies, under this new framework agreement."