Monday, January 10, 2011

Middle Eastern Spotlight: Barzan Gas Project Launched

By Pratap John

Qatar has launched QR31bn Barzan Gas, a key project that will significantly meet the rising domestic gas demand.

Qatar Petroleum and ExxonMobil Barzan, a subsidiary of ExxonMobil Corporation, yesterday signed a Joint Venture Agreement (JVA) and a Development and Fiscal Agreement (DFA) for the Barzan Gas Project, which will supply about 1.4bn cu ft of gas a day, mainly to utilities and industrial units.

QP will have a 93% stake with ExxonMobil holding the remainder in the project, whose first gas flow is planned for 2014.

The project will be completed in two phases; Train 1 will come onstream in 2014 and Train 2 in 2015.

To be located at Ras Laffan, Barzan Project will be operated by RasGas. It will produce and process gas from Qatar’s North Field and supply sales gas to power stations and industries, ethane to the petrochemicals industry in Qatar, and associated liquid hydrocarbons for sale in the local and international markets.

The engineering, procurement and construction (EPC) contract for the project’s onshore segment has been awarded to Japan’s JGC Corporation while the offshore works have been given to South Korea’s Hyundai Heavy Industries.

Read more of the report here.

Source: Gulf Times