Qatar Petroleum inks $6 billion gas deal with Sasol Chevron
Qatar Petroleum (QP) and South African-US partnership Sasol Chevron have announced plans to evaluate the expansion of ORYX GTL from 34,000 barrels per day (bpd) to 100,000 bpd.
QP and Sasol Chevron have also signed a Letter of Intent (LOI) to examine GTL Base Oils opportunities in Qatar.
In addition, the companies have agreed to pursue the opportunity to develop a 130,000 bpd upstream/downstream integrated GTL project based on the Sasol Slurry Phase Distillate Process and utilizing resources from the North Field. This will involve defining the feasibility of a six train facility with an expected start up by 2010. These efforts will lead to the establishment of a Heads of Agreement (HOA) for the project.
The combined plan will represent an investment of more than six billion dollars, making it one of the most significant developments in the global GTL industry to date.
Sasol, with a market capitalization of approximately nine billion dollars, is an integrated oil and gas group with substantial chemical interests. Based in South Africa and operating in 15 other countries throughout the world, Sasol is the leading provider of liquid fuels in South Africa and a major international producer of chemicals, using technology for the commercial production of synthetic fuels and chemicals from low grade coal. — (menareport.com)
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