Kuwait Petroleum signed MoU with Oman Oil Company to invest in Duqm Refinery and Petrochemical Complex
Oman Oil Company (OOC) and Kuwait Petroleum Corporation’s international subsidiary Kuwait Petroleum International (KPI) signed a Memorandum of Understanding (MoU) to cooperate in the development of Duqm Refinery and Petrochemical Complex.
The complex is located at the Duqm Special Economic Zone (SEZ) in Oman’s Al Wusta Governorate.
The MoU was signed by Hilal Al-Kharusi, acting executive managing director of Duqm Holding of behalf of OOC and Bakheet Al-Rashidi, CEO of Kuwait Petroleum International at Crown Plaza Hotel in the Duqm Economic Zone.
Tesoro Logistics completed acquisition of Northern California Terminalling and Storage Assets from Tesoro
Tesoro Logistics (TLLP) completed the acquisition of The Northern California Terminalling and Storage Assets located in Martinez, California, US, from Tesoro.
These assets consist of 5.8 million barrels of crude oil, feedstock and refined product storage capacity at Tesoro's Martinez Refinery.
It also includes a marine terminal capable of handling up to 35,000 barrels per day (bpd) of feedstock and refined product throughput.
TLLP acquired the assets at a consideration of $400m, including $360m of cash financed with borrowings on TLLP's revolving credit facility and $40m of common and general partner units to Tesoro.
Australian oil and gas company Santos signed an agreement to farm-in for a 20% interest in Petroleum Prospecting Licence (PPL) 402 located in Papua New Guinea.
The 20% interest will be purchased from Oil Search and ExxonMobil.
Detailed terms of the agreement were not divulged.
PPL 402 is situated nearly 40km from the Hides gas field and production facilities. Located within a prospective thrust and fold belt, it covers an area of 510km².
Integrated midstream and downstream energy company Puma Energy signed a purchase agreement with BP to buy a storage fuel terminal located in Belfast, Northern Ireland.
With this acquisition, Puma Energy will now own 100 bulk storage terminals worldwide, touching 7.9 million cubic metres of storage capacity.
The acquisition builds on the purchase of the 1.4 million cubic metres capacity of Milford Haven Terminal in 2015, further advancing the company’s growth in the European market.
This purchase will also allow Puma Energy to supply high-quality fuels to Northern Ireland.
South Korean-based Hyundai Engineering and Construction secured a $727m contract from Saudi Aramco for the construction of a gas treatment facility at the Uthmaniyah plant.
Hyundai expects to complete the project by 2019.
The gas treatment facility will first separate and then collect natural gas fractions through a de-methaniser from gas, reported Upstreamonline.com.
The Uthmaniyah gas plant is a part of Ghawar oil field and comes with a processing capacity of around 2.5 billion cubed feet each day.
Beach Energy made an oil discovery on the Western Flank within the Poolowanna Formation in ex PEL 91 of Australia.
September-1 exploration targeted oil in a structural closure within the Namur Sandstone and it tested the McKinlay Member, Birkhead Formation and Poolowanna Formation as secondary targets.
The well intersected an 8m gross interval within the Poolowanna Formation. A drill stem test was also conducted over the interval 1,927.8m to 1,936m and recovered 15.2 barrels of approximately 42 degree API oil from the drill string over a 1.5-hour flow period. The flow rate was found to be 210 barrels of oil per day.
After the exploration, September-1 has been cased and suspended as a future oil producer.
The Total-led CI-GNL (Ivory Coast LNG) consortium won the rights to build and operate a liquefied natural gas (LNG) re-gasification terminal in the Ivory Coast.
The decision announced by the Government of the Ivory Coast follows the signing of shareholders’ agreement in Abidjan.
The agreement was signed between Total, PetroCI (11%), CI Energies (5%), SOCAR (26%), Shell (13%), Golar (6%) and Endeavor Energy (5%).
Total will operate the re-gasification terminal project with a 34% interest.
Honeywell announced that a subsidiary of PetroVietnam will use its new IIoT-based Connected Performance Services (CPS) to enhance its manufacturing operations.
The company, Binh Son Refining and Petrochemical (BSR), is based in Quang Ngai City, Vietnam, and will use this CPS technology.
This technology integrates Honeywell UOP's deep process knowledge and helps to upgrade the refinery and plant performance at the naphtha complex.
CPS is a segment of Honeywell's Connected Plant initiative that utilises IIoT technology and services. From supply chain efficiency to asset optimisation, this technology is effective to improve all aspects of industrial operation.
Vietnam decided to put an end to a $538m oil refinery project after investors failed to initiate construction even after eight years of securing a licence.
The Mekong Delta-based Can Tho refinery received its licence in 2008.
The refinery was expected to process around two million tonnes of crude oil annually.
Quoting the reports of Can Tho municipal authority, Reuters reported that the licence was granted to the joint venture between Semtech Limited BVI and a Vietnamese firm, Vien Dong Investment and Trading, however, Semtech later withdrew from this project.
Petroleum Development Oman implemented Intergraph solutions to enhance engineering information management
Exploration and production company Petroleum Development Oman (PDO) implemented Intergraph Smart Data Validator and Intergraph SmartPlant Enterprise for Owner Operators to enhance engineering information management.
The Intergraph process, power and marine (PP&M) solutions were selected mainly due to their data-centric attributes and potentiality to assist PDO’s business workflows.
From its inception in 1962, PDO has focused on oil producing at the Oman Sultanate.
The company currently accounts for about 70% of the Sultanate’s total oil production and approximately all its natural gas supply.