Nuberg wins $35m Jubail chemical plant contract

Updated 26 March 2015
0

Nuberg wins $35m Jubail chemical plant contract

Addar Chemicals Company, a leading conglomerate in Saudi Arabia, has awarded a $35-million engineering, procurement and construction (EPC) contract to Indian group Nuberg Engineering for a chemical plant in Jubail.
The turnkey contract for Addar’s Greenfield Sulfolane and speciality chemical plant is a major win for Nuberg.
The entire project is worth $60 million all-inclusive.
The turnkey project was bagged against several global competitive bids by major international EPC contractors originating from countries like India, Saudi Arabia, Korea and Europe, says a press release received here.
The scope of the chemical plant project includes residual engineering, procurement, supply, construction, fabrication and commissioning.
The project is augmented by Larsen & Toubro (L&T), one of India’s largest conglomerate, is the detail engineering partner of the chemical plant.
The technology and basic engineering partner of the project is GTC Technologies, another giant of the industry originating from US.
Addar, one of the leading conglomerate firms in Saudi Arabia, was formed as an independent entity by Ibrahim bin Salamah, ex-managing director and vice chairman of Saudi Basic Industries Corporation (SABIC).
The facility, located in Jubail Industrial City, will manufacture Sulfolane and other specialty chemical products for downstream and petrochemical/oil and energy industry.
The chemical plant will supply to the local Saudi market as well as the wider Middle East,Africa (MEA) and Gulf Cooperation Council (GCC) region. Also, it may cater to markets having similar critical needs, includingEastern Europe, India, China and South East Asia.


BP and SOCAR sign new Azeri oil deal

Updated 19 April 2019
0

BP and SOCAR sign new Azeri oil deal

  • The Azeri Central East (ACE) platform, the latest phase of Azerbaijan’s giant Azeri-Chirag-Guneshli (ACG) oilfields extension program, is expected to produce 100,000 barrels of oil a day
  • BP and the government of Azerbaijan extended their agreement to continue developing the ACG fields until 2050 in a major deal in 2017

BAKU: Oil major BP and Azerbaijan’s state energy company SOCAR signed an agreement on Friday to build a new exploration platform for the South Caucasus nation’s three major oilfields, BP-Azerbaijan said in a statement.
The Azeri Central East (ACE) platform, the latest phase of Azerbaijan’s giant Azeri-Chirag-Guneshli (ACG) oilfields extension program, is expected to produce 100,000 barrels of oil a day and cost $6 billion to build, the company said.
The project is one of the biggest upstream investment decisions to have been signed in Azerbaijan so far this year.
The ACG fields, which to date have produced around 3.5 billion barrels of oil, are estimated to have the potential to yield another 3 billion barrels.
BP’s main aim now would be to maximize the extraction of remaining reserves, Robert Morris, senior analyst at Wood Mackenzie, said in a statement.
“ACE is central to those plans, adding 100,000 barrels per day of production at peak in the mid-2020s,” he said.
BP and the government of Azerbaijan extended their agreement to continue developing the ACG fields until 2050 in a major deal in 2017.
Separately, SOCAR and its partners at the BP-led ACG consortium plan to participate in a tender to acquire stakes being sold by two of its members, ExxonMobil and Chevron.
SOCAR President Rovnag Abdullayev made the announcement to reporters following a meeting of senior SOCAR figures on Friday.