CNOOC hits gas in South China Sea
China’s CNOOC Limited said that it has made a new mid-to-large sized natural gas discovery Lingshui 25-1 on the independent deepwater exploration. The Lingshui 25-1 structure is located in the northeast of Ledong Sag in Qiongdongnan Basin of South China Sea, with an average water depth of about 980 meters. The discovery well Lingshui 25-1-1...
Jacobs Receives Contract from BP
Jacobs Receives Contract from BP in Belgium Jacobs Engineering Group Inc. announced that it received a contract from BP Chembel N.V. for basic and detailed engineering services to upgrade its facilities in Geel, Belgium. Under the terms of the contract, Jacobs is installing new equipment and performing upgrades in the facility’s PTA units. BP’s Geel...
Top 20 contracts signed in 2014
According to figures released by Ventures Middle East earlier this year, there were $83.5bn worth of construction projects to be delivered across the GCC in 2014 – up from $70bn last year. And a report on the market by accountancy firm Deloitte stated the industry is now valued at $1.3tn, with $938bn of projects in...
Al Jaber Win Saudi Airport Build
UAE’s Al Jaber Group Wins Contract To Build New Airport in Saudi Arabia The project will include a new passenger terminal covering an area of 86,000 square metres and will be built to accommodate around five million passengers annually. Abu Dhabi-based construction firm Al Jaber Group announced that it has been awarded the contract to...
Caribbean Energy Project
Major Caribbean Energy Project Closer to Launching Construction A massive hydropower energy project is closer to becoming a reality, President Donald Ramotar said. The Amaila Falls Hydro Power project is set to “achieve financial close and commence construction” with months, Ramotar said last week. The President said that the government of Norway had transferred $80...
Major Chems Investor Eyes Sohar Port
Sohar Port & Freezone is planning a land reclamation project to provide space for a “multi-billion dollar” chemicals plant that will be used by a major investor from the GCC, according to its executive commercial manager, Edwin Lammers. Lammers told the Oman Daily Observer that it is “in close discussion” with the prospective tenant, who...
Magnolia LNG signs with KBR
WEST PERTH, Australia — Liquefied Natural Gas is pleased to advise that its wholly owned subsidiary, Magnolia LNG (MLNG), has executed a Technical Services Agreement (TSA) with KBR to undertake cost verification and provide other services supporting MLNG project delivery. It is proposed that KBR and SKEC will form an integrated EPC JV which will...
Africa’s first floating LNG project
Golar to start Africa’s first floating LNG project in Cameroon London-based LNG company Golar LNG Ltd announced it had entered an agreement with Societe Nationale de Hydrocarbures Cameroon (SNH) and Perenco Cameroon for the development of a floating liquefied natural gas export project located 20 kilometers off the coast of Cameroon and utilizing Golar’s floating...
World’s Top 25 Contractors 2014
The Top 25 Contractors in the World 2014 The GCC hasn’t been the only area of the world in which construction reported an upswing in activity in 2014. Markets which had been in the doldrums in recent years, including the United States and the United Kingdom, have bounced back much more quickly than many were...
Aramco halts clean fuels project
State oil giant Saudi Aramco has suspended plans to build a $2 billion clean fuels plant at its largest oil refinery in Ras Tanura, three industry sources said. The energy project appears to be one of the first suspended in Saudi Arabia in response to the halving of the oil price in the last six...
Saudi Electricity $267m deal
Saudi Electricity Co signs $267m deal for gas/solar plant State-owned utility Saudi Electricity Co has signed a contract worth 1 billion riyals ($267 million) to buy generators for the kingdom’s first fossil fuel-fired power plant that will also produce solar energy. The 550-megawatt integrated solar combined cycle (ISCC) plant will primarily burn natural gas, but...
Dubai Mega Projects in 2015
Watch out for these Dubai mega projects in 2015 Dubai developers left no stone unturned as they announced multi-billion dirham master developments and real estate projects that will change the landscape of the emirate in the coming few years. The biggest of the all was Dubai Holding’s announcement of Dh25-billion Mall of the World, which...