A Barrel Fulll Archive

June 13, 2019 ExxonMobil and SABIC today announced the decision to proceed with the construction of a chemical facility and a 1.8 million metric ton ethane steam cracker in San Patricio County, Texas, leading to thousands of high-paying jobs and billions in economic output. New facility to include 1.8 million metric ton ethane steam cracker Investment to create 6,000 jobs during construction, 600 permanent jobs Economic output to exceed $22 billion during construction and $50 billion during first six years “Building the world’s largest steam cracker, with state-of-the-art technology, on the doorstep of rapidly growing Permian production gives this project significant scale and feedstock advantages,” said Darren W. Woods, chairman and chief executive officer of ExxonMobil. “It is one of several key projects that provide the foundation for significantly increasing the company’s earnings potential.” The joint-venture between ExxonMobil and SABIC, called Gulf Coast Growth Ventures, receiv

January 20, 2022 ExxonMobil and SABIC today announced the successful startup of Gulf Coast Growth Ventures world-scale manufacturing facility in San Patricio County, Texas. The new facility will produce materials used in packaging, agricultural film, construction materials, clothing, and automotive coolants. The operation includes a 1.8 million metric ton per year ethane steam cracker, two polyethylene units capable of producing up to 1.3 million metric tons per year, and a monoethylene glycol unit with a capacity of 1.1 million metric tons per year. “We built this state-of-the-art chemical plant ahead of schedule and below budget, by leveraging our global projects expertise in execution planning and delivery, while keeping everyone safe and healthy,” said Karen McKee, president of ExxonMobil Chemical Company. “This is a remarkable achievement that positions us well to help meet growing global demand for performance products while providing meaningful investment in the U.S. Gulf Coast

9th January  2020 Borealis AG (“Borealis”) and NOVA Chemicals Corporation (“NOVA Chemicals”) today announced they have reached an agreement for Borealis to buy NOVA Chemicals’ 50% ownership interest in Novealis Holdings LLC (“Novealis”). Formed in 2018, Novealis is the joint venture between affiliates of Borealis and NOVA Chemicals, which subsequently formed a 50/50 joint venture with an affiliate of Total S.A. to launch Bayport Polymers LLC (“Baystar”) in Houston, Texas, US. Closing of the acquisition is subject to customary regulatory approvals and other conditions but is not subject to any financing condition. The parties expect the transaction to close in the first half of 2020.

May 4, 2022 INEOS, the world’s leading private chemical company, has awarded Técnicas Reunidas a contract for the project management, engineering, procurement and construction management and supervision services for a world scale ethylene plant in Europe . The facility, to be built in the Belgian port of Antwerp, will have a production capacity of 1.5 million tons per year. Start-up of the facility is expected in 2026. Ethylene is a raw material needed for products that are used in wind power plants, solar panels, medical equipment (blood bags, sterile containers, magnetic resonance scanners, etc.), long-life construction materials, textile products and lightweight components for vehicles, among other applications. INEOS will invest 3,000 – 4,000 million euros in this project. It will be the largest capital investment made by the European chemical sector in the last 20 years. The advanced technology applied in its development will make it the most energy-efficient and environmentally s

APRIL 10, 2020 INVISTA’s technology and licensing group, INVISTA Performance Technologies (IPT), and SASA Polyester Sanayi A.Ş. (SASA) reached an agreement on Aug. 25 for the license of IPT’s P8 process technology for SASA’s PTA project in Adana, Turkey. With an annual PTA production capacity of 1.5 million tonnes, this would be the largest single-stream design capacity licensed by INVISTA. Built on the demonstrated performance of IPT’s P8 technology platform, the variable cost, capital productivity and environmental performance of this PTA plant is expected to set new benchmarks within the industry. Ibrahim Erdemoğlu, SASA’s chairman, said, "SASA will continue to invest in polyester to position itself as the leading polyester producer after China and India. This agreement will enable self-sufficiency in PTA, terminating all PTA imports into Turkey. This is also the first step of SASA’s investment in petrochemicals with more investment in polyester, PTA and MEG to follow in Adana

November 23, 2020 SASA POLYESTER has awarded to Técnicas Reunidas, S.A., the execution of project for a new petrochemical plant for production of PTA (Purified Terephtalic Acid) in Adana, Turkey. The capacity of the plant will be 1.5 million tonnes per year.  In the information released in the Istanbul Stock Exchange, SASA announced that the size of the investment is 935 MM$, amount that includes the value of the contract of Técnicas Reunidas. The contract will be executed in a fast track scheme, with a delivery time of only 27 months.  This project is part of a more ambitious investment program that SASA POLYESTER will carry out into the petrochemical sector in Turkey.  This project ratifies the credentials of Técnicas Reunidas in the design and construction of PTA plants, a product which is expected to see additional investments in the short term, in Turkey and in other countries and regions.  PTA is used in the drug and textile industries, as well as for food life extension and pa

December 3, 2019 LyondellBasell (NYSE: LYB) today announced that Ceyhan Polipropilen Uretim A.Ş, a joint venture between Rönesans Holding and Sonatrach S.p.A., has selected LyondellBasell’s Spheripol technology for a 450 KTA polypropylene unit to be constructed in Ceyhan, Turkey. “We are delighted to be the technology provider of choice for this polyolefin plant in Turkey,” said Neil Nadalin, Director of Licensing at LyondellBasell. Nadalin added: “With the selection of our Spheripol technology Ceyhan Polipropilen Uretim is in the position to deliver benchmark polypropylene resins with an easy to operate, reliable and safe technology with outstanding monomer efficiency.” Mr. Evren Ayral, Board Member at Ceyhan Polipropilen Uretim stated: “We have selected LyondellBasell’s technology for our PP project as the Spheripol products are well known in the region already which strongly supports the development of our market giving us the freedom to focus on our goal to strive for operational

October 13, 2021 The President of Turkey, Recep Tayyip Erdogan, has laid the first stone of a new petrochemical complex for the production of polypropylene to be developed in the province of Adana, in the southeast of the country, to be executed by Técnicas Reunidas. The complex is sponsored by Ceyhan Polipropilen Üretim A.Ş, a joint venture formed by the Turkish group Rönesans Holding and the Algerian company Sonatrach, which has entrusted its execution, through an EPCC (engineering, procurement, construction and commissioning) contract, to a partnership formed by Técnicas Reunidas and the construction subsidiary of the Rönesans group itself. At the ceremony, held last Saturday in Adana, capital of the province of the same name, Erdogan recalled that Turkey has recently announced its Green Development Revolution, “one of the most ambitious goals for the future of our country. Therefore, all the investments we make from now on will be aligned with this perspective, as is the case wit

 13th October 2021 Rönesans Holding has launched one of the private-sector largest industrial investments in Turkey in Ceyhan, Adana. The groundbreaking ceremony for Ceyhan Polypropylene Production Plant which will operate on a 62-hectare land within Ceyhan Industrial Zone was held on Saturday, October the 9th. Ceyhan Polypropylene Production Plant, with an investment value of near $ 1.7 billion, is intended to triple Turkey’s annual polypropylene production capacity, thus substituting for 20% of the total imports. This investment stands among the largest industrial investment made by the private sector in Turkey and the largest polypropylene production plant in our nation with an annual production capacity of 450 thousand tons with the goal of an annual net positive contribution of $250 million to Turkey’s balance of foreign trade. Expected to be operational in 2025, the plant will supply the fuel need using its own generated hydrogen. In addition, it will supply most of its electric

Oct. 9, 2019 Honeywell announced today that Ceyhan Polipropilen Uretim A.Ş. will use Honeywell UOP’s C3 Oleflex™ technology to produce 457,000 metric tons per year of polymer-grade propylene for a new petrochemicals complex in Ceyhan, Turkey . Ceyhan Polipropilen Uretim is a joint venture of Ronesans Holding and the Algerian national energy company Sonatrach S.p.A. The new unit will be used to supply propylene for production of polypropylene, which is used to make a wide variety of plastic products that are growing in demand globally. Honeywell UOP will provide technology licensing and customized basic engineering design, services, equipment, catalysts and adsorbents for the plant. When completed, this will be the first propane dehydrogenation (PDH) unit to operate in Turkey. “There is growing demand in the region for propylene to make plastics, and that propylene has historically been a byproduct of refining fuels, or a product of naphtha cracking,” said Bryan Glover, vice president a

1st November 2017 Oil Search has signed an agreement to acquire a number of oil assets in the Alaska North Slope from privately-owned companies Armstrong Energy LLC and GMT Exploration Company LLC. The assets include a 25.5% interest in the Pikka Unit and adjacent exploration acreage and a 37.5% interest in the Horseshoe Block. These leases contain approximately 500 million barrel (gross) in the Nanushuk and satellite oil fields, with Nanushuk being one of the largest conventional oil fields discovered in the US in more than 30 years. The acquisition will provide Oil Search with world class oil assets immediately adjacent to existing infrastructure. The Alaska North Slope is an established, prolific oil producing province, in the world’s largest developed economy, with an attractive fiscal regime. The assets complement the Company’s existing top quartile, high returning PNG gas portfolio and, with significant growth opportunities, have the potential to become, over time, a material b

22 February 2021   Oil Search is pleased to announce FEED entry for Phase 1 of the Pikka project . Phase 1 will include a single drill site and a production facility with 80,000 barrels of oil per day (bopd) capacity. This is an exciting and critical step toward delivering production and revenue from Oil Search’s Alaska assets. Phase 1 FEED scope focused on delivering 80,000 bopd starting in 2025 Front-end engineering and design (FEED) will consist of finalising the design scope, execution plan, budget and schedule, and will reduce project risk, ensuring the design supports optimal expansion to deliver full value from the giant Nanushuk reservoirs. Specifically, FEED will progress engineering and design for the production facility, infrastructure for a single initial drill site (Nanushuk Drill Site B, or NDB), pipelines, and operations pad infrastructure including camps. FEED will also deliver key drilling milestones including final designs for wells and drilling processes and systems.

22 March 2022 Together with the Dutch government, Gasunie is exploring ways to ramp up the Netherlands’ LNG import capacity in the short term. The first concrete step in this direction is a floating LNG terminal at Eemshaven in Groningen province, for which Gasunie has now signed a charter with Belgium’s Exmar. LNG imports can help reduce dependency on Russian gas. Besides this floating LNG terminal, the possibility of expanding capacity at Gate terminal in Rotterdam is also on the table. On Friday 18 March, Belgium’s Exmar group announced a deal that will see Gasunie charter Exmar’s floating LNG terminal for a period of five years. The vessel, which will be moored at Eemshaven, will be used to store and regasify LNG (liquefied natural gas) for injection into the gas network. This floating terminal will enable the Netherlands to ramp up its natural gas imports by between 4 and 5 billion cubic metres on an annual basis.

10 May 2022 Yesterday evening Gasunie signed a binding contract for the lease of a floating LNG installation (FSRU) from the American energy infrastructure company New Fortress Energy. For the next five years this vessel will convert liquefied natural gas into gas in the Eemshaven in the north of Groningen. The installation is also suitable for the storage of gas. The vessel is expected to arrive in Eemshaven in the third quarter of 2022. With this second floating LNG installation, Gasunie subsidiary EemsEnergyTerminal BV is expanding its new LNG terminal in Eemshaven , making a total of 8 billion cubic metres of natural gas available to the national network after processing the liquefied natural gas (LNG) that is brought in. At the end of April Gasunie contracted the FSRU S188 from the Belgian shipping company Exmar. This installation will also arrive in Eemshaven in the third quarter. Interest from market players The recently launched tender for LNG market parties has led to overwhel

24 Oct 2016 Keppel Offshore & Marine's (Keppel O&M) wholly-owned subsidiary Keppel Shipyard Ltd (Keppel Shipyard) is on track to deliver one of the world's largest Floating Production Storage and Offloading vessels (FPSO) to Bumi Armada Berhad (Bumi Armada) for operations in offshore Angola. The naming ceremony of the FPSO, Armada Olombendo , was held at Keppel Shipyard earlier this month. Keppel Shipyard converted a Very Large Crude Carrier (VLCC) tanker to an FPSO which measures 382 metres in length with the external turret and 58 metres in width. Armada Olombendo has a design life of 20 years and will be deployed to block 15/06 East Hub Field Development off Angola to fulfill its charter contract for the exploration and production company, Eni Angola. Mr Michael Chia, Managing Director (Marine & Technology) of Keppel O&M, said, "The conversion of the VLCC tanker to FPSO Armada Olombendo is the 16th conversion project that Keppel has executed for Bumi Ar

30 October 2014 Eni has made a new important oil discovery in the Minsala Marine exploration prospect located in the Marine XII Block offshore Congo at 35 Kilometers from the shoreline and 12 kilometers from the recent Nené Marine discovery. The discovery was made through the Minsala Marine 1 well which was drilled in 75 metres of water depth and reached a total depth of 3,700 metres. The well encountered a significant accumulation of light oil in the Lower Cretaceous age pre-salt sequence, passing through an hydrocarbon column of 420 metres. Eni preliminary estimates the potential of Minsala Marine discovery in about 1 billion barrels of oil equivalent in place, of which 80% oil. Claudio Descalzi, Chief Executive of Eni, commented: "We are delighted with this important result. It has been over four years since Eni started exploring the shallow water pre-salt plays of West Africa, and this campaign continues to deliver great results. We have already discovered about

5 January 2015 Eni has started production from Nené Marine field, offshore Congo, just eight months after obtaining the production permit and 16 months following the exploration discovery. The field is located in Marine XII Block , approximately 17 km from the coast. The start of production reflects another important success for Eni in Congo, a few days after the announcement of the excellent results of the test of Minsala Marine 1 well, also located in Marine XII Block. The Nené Marine field, located at a water depth of 28 meters and close to existing plants, produces from Djeno pre-salt formation 2.5 km below the ground level. The complete development of the field will take place in several stages and will include the installation of production platforms and the drilling of over 30 wells, with a plateau of over 140,000 barrels of oil equivalent per day (boe/d). The production of the first phase is 7,500 boe/d. It is collected from a platform installed on the purpose and is subsequent

June 6, 2019 PJSC LUKOIL concludes an agreement with New Age M12 Holdings Limited to acquire a 25% interest in the Marine XII license in the Republic of Congo for $800 mln in cash. The transaction is subject to customary conditions, including the approval by the government of the Republic of Congo. The Marine XII license covering 571 sq. km is located on the continental shelf of the Republic of Congo 20 km from the shore with the sea depth of 20-90 meters. The license covers five discovered fields containing 1.3 billion barrels of oil equivalent of proved and probable (2P) reserves according to international independent auditor. Two fields, Nene and Litchendjili, launched in 2015, currently produce 28 thousand barrels of oil (mainly light and low-sulfur) and gas condensate per day, and 1.7 million cubic meters per day of marketable gas. The Marine XII license is based on a production sharing contract. Eni is the project's operator with a 65% stake. The project also involves the s

29 August 2018 Petrofac has received a provisional letter of award for an engineering, procurement and construction (EPC) contract worth US$600 million with Sonatrach for EPC1 of the Tinrhert Field Development Project in Algeria. Formal contract signing is expected to take place in September 2018. Located in Ohanet, around 1,500 kilometres southeast of Algiers, EPC1 will provide a new inlet separation and compression centre. Under the terms of the 36-month contract, the scope of work includes a pipeline network of approximately 400 km to connect 36 wells, along with commissioning, start-up and performance testing of facilities. E S Sathyanarayanan, Group Managing Director, Engineering & Construction, commented: “This award builds on Petrofac’s significant track record in Algeria where we have been working in support of the country’s oil and gas production for more than two decades. “We have continued to grow our presence in-country through a number of major EPC and engineering ser

MARCH 12, 2021 Excelerate Energy L.P. (Excelerate), ExxonMobil LNG Market Development Inc. (ExxonMobil), and the Republic of Albania (The Ministry of Infrastructure and Energy) signed a Memorandum of Understanding (MOU) on March 12, 2021, to conduct a feasibility study for the potential development of a liquefied natural gas (LNG) Project in the Port of Vlora in Southern Albania. Under the MOU, Excelerate will conduct a study to explore the potential of an integrated LNG to power solution that includes developing an LNG import terminal, converting and/or expanding the existing Vlora thermal power plant, and establishing small scale LNG distribution to Albania and the surrounding Balkans region. “As Albania looks to improve energy security and resiliency, we are confident that an LNG solution would provide reliability to the country’s power grid while complementing intermittent renewables and alternative resources,” stated Steven Kobos, President and Chief Executive Officer of Excelera