Qatar Petroleum and Sasol sign $800 million contract
An $800 million contract was recently signed between the Qatar Petroleum Company and South Africa Coal, Oil and Gas Limited Corporation (Sasol), reports London based Al-Hayat daily.
Under the joint agreement, a plant will be established to convert gas into petroleum fluids.
The new conversion facilities mark a new era for the Qatari gas industry according to the Qatari Minister of Industry and Energy, Abdullah Attiya, who signed the contract.
The project is the first of its kind in the Middle East, and will convert gas into environment-friendly petroleum fluids by 2005.
The Qatari share of this plant is estimated at 51 percent, while the South African share stands at 49 percent. –(MENA Report)
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