Dubai World to build $4.7 billion project

Dubai World has signed an agreement with Malaysia's diversified group MMC Corporation to jointly develop a Dh17 billion maritime centre in the southern state of Johor, marking the company's most significant venture in Southeast Asia.

The proposed plan comprises oil terminal activities, drydocks, shipyard, conventional cargo handling facilities, logistic parks and property developments. The projects will be developed in locations in Johor, including on a landbank of 2,255 acres at Tanjung Bin, which has been earmarked for industrial development. Work is planned to start later this year and the projects are expected to become operational in the second half of 2010, MMC said.

MMC is an investment holding company with interests in transport, logistics, energy, utilities, engineering and construction. The Malaysian project will be Dubai World's most high-profile venture in Southeast Asia.

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Star Clipper to build biggest Clipper

Star Clippers, have announced that they will build their largest sailing ship so far, 158 metres long.

The company has been in discussions with shipyards to build the new five mast vessel for delivery in 2010. Set to be the largest, most expensive sailing vessel ever constructed, the 7,400 tonne barque is modeled on France II, which at 5,000 tonnes was the world's largest sailing ship when it was launched in 1912. The ship will be 18.6 metres at the beam with a draft of 6 metres. It will carry 37 sails for a total of 20,730 square metres of sail surface area. The ship has been designed to make it capable of operating independently of any port infrastructure.

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CNOOC starts gas project in Indonesia

China National Offshore Oil Company Limited (CNOOC Limited) announced the phase two of the Southeast Sumatra (SES) gas project has started production.

CNOOC SES Ltd, a CNOOC Ltd subsidiary, was the operator, said CNOOC Ltd. The contractual gas delivery rate of the phase two of the project would be 78.4 million cubic feet per day. The project is located about 120 kilometers offshore West Java in Indonesia, with an average water depth of 30 meters. The development facilities in phase two include a production and processing platform, a gas plant, a gas compression and processing platform and three sub-sea pipelines. Phase one of the project commenced production in 2006.

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Dubai to host first oil technology summit

The Arab Gulf emirate of Dubai will host on November 19th 2007 a summit on Oil Technology (OT), which examines the role of Information Communication Technology (ICT) in advancing the oil and gas sector in the Middle East.

The OT Summit is the first summit in the Middle East developed exclusively for senior decision-makers from the Middle East oil and gas sector. The event, entitled ‘OT Summit – Middle East’, is a strategic platform to meet with the industry peers and leading technology providers to discuss IT strategies and to bring the latest technologies for an in depth explanation, examination and to facilitate the transformation.

Dependence of oil and gas industries on communication and information technology has become an essential tool for production in our recent time, commented Khalid Eid, Managing Director of the Dubai – based World Development Forum (WDF), the organizer of the three-day event. It is worth noting that the OT summit will be co-located with the Government Technology Summit (GT Summit), which brings together the elite of ICT in Arab Governments to discuss how Technology can help Arab Governments to improve services offered to Citizens, Business and Government.

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Linde forms global alliance with SBM

Linde has formed a Global Alliance with Single Buoying Mooring Inc. (SBM) to develop and market Floating Production, Storage and Offloading units (FPSO) for the growing Liquid Natural Gas (LNG) industry, based on Linde's proprietary natural gas liquefaction technology.

After having finalized a generic concept for a LNG FPSO with a yearly capacity off app.2.5 million metric tons of LNG, global marketing efforts will start as of today. The FPSO is designed for any conventional natural gas composition and aims at offshore natural gas fields with recoverable reserves of 1 trillion cubic feet or more.

SBM among other things contributes marine technology including hull and LNG storage tanks system, power generation system, mooring system, cryogenic offloading systems and FPSO operational experience.

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Posco to begin construction of captive port in Orissa

South Korean steel giant Posco would begin construction of a captive port a year before actual work on its 12-million-tonne steel plant begins in 2009.

Seeking quick steps for removal of hurdles in land acquisition and mining lease, Posco-India CMD Soung-Sik Cho said that the company would start work for its captive port early next year, while construction of the proposed steel plant was expected only in 2009. Admitting that Posco-India was yet to be handed over a single piece of land out of the 4,004 acre required for the project near Paradip, demarcation of 193 acres of land was likely to take place by this month end.

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PetroChina raises Nanpu potential

PetroChina has said that proven reserves at its Jidong Nanpu oilfield in north-east China’s Bohai Bay could eventually rise to 2 billion tonnes of oil equivalent.

Including reserves from onshore, the ultimate proven reserves of Nanpu oilfield are expected to hit around 2 billion tonnes. The Nanpu oilfield has combined proven, probable and possible reserves of 1.18 billion tonnes of oil equivalent, the Ministry of Land and Resources certified in August. The present proven reserves are certified at 445 million tonnes oil equivalent. It may take approximately five to six years to confirm the new reserves, and exploration efforts will be made simultaneously with extraction work on current proven reserves, stated officials of PetroChina to media.

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