Oil majors have until August 26 to bid for giant Saudi gas projects
(AFP, Nicosia) - Foreign oil companies have until August 26 to submit bids for huge upstream gas projects in Saudi Arabia, the Middle East Economic Survey said Monday.
The specialised newsletter said MobilExxon, Chevron, Texaco, Conoco, Phillips, Enron and Occidental (Oxy) in a joint bid, Marathon, BP Amoco, Royal Dutch Shell, TotalFinaElf and Eni have been shortlisted for the investment programmes.
The projects include the Haradh gas development project in partnership with state-owned Saudi Aramco in the east, the integrated Rabigh refinery and petrochemical project on the Red Sea, and development in the southeastern Kidan and Shaybah fields on the border with the United Arab Emirates.
Recommendations concerning the bids will be submitted to the Supreme Council for Petroleum and Mineral Affairs, Saudi Foreign Minister Prince Saud al-Faisal said after a July 12 briefing with the companies in Jeddah.
Riyadh announced in May that a dozen oil majors made a series of proposals during April 16-30 talks that would inject more than $100 billion into the energy sector.
Saudi Arabia, which sits on top of the world's biggest oil reserves, has estimated gas reserves of six trillion cubic metres (210 trillion cubic feet). It has so far ruled out foreign investment in the upstream oil sector.
© Agence France Presse 2000
© 2000 Mena Report (www.menareport.com)
- Foreign bids for Saudi gas projects passed on to Fahd's petroleum council
- Saudi crown prince to meet US oil majors bidding for energy projects
- Oil Majors Informed About Saudi Energy Opening
- Oil giant BP announces $3 billion project in Oman
- With $2.46 TRILLION to be spent on oil, gas, and water projects, what will the future Middle East look like?