Saudi Arabia has delivered a list of around 25 energy projects to international oil companies (IOCs) bidding for a role in the kingdom's huge energy initiative, the Middle East Economic Digest (MEED) reported on Sunday.
"Oil company executives say the bidders have been asked to submit responses to a series of requests for clarification about selected projects by the end of the year," the weekly said.
It said the IOCs had received a file of around 25 projects covering gas field development, oil refining and power generation, in the "first official feedback" since the companies submitted proposals in August.
"They have been asked for detailed proposals on how these projects could be carried out, individually or in a combined form," MEED said. "For some of the projects, there are expected to be multiple bids."
The bidding process is expected "to enter a much more intensive phase in the first half of next year once the responses from the IOCs have been received," said the magazine.
US majors Chevron, Conoco, Enron and Occidental in a joint bid, ExxonMobil, Marathon, Phillips and Texaco have been shortlisted for the Saudi projects along with the European firms BP Amoco, ENI, Royal Dutch/Shell and TotalFinaElf.
Riyadh announced in May that the oil majors made a series of initial proposals during April 16-30 talks that would inject more than $100 billion into the Saudi upstream gas and downstream oil sectors.
Saudi Arabia, which sits on top of the world's biggest oil reserves, has estimated gas reserves of six trillion cubic meters (210 trillion cubic feet). It has so far ruled out foreign investment in the upstream oil sector.—AFP.
©--Agence France Presse.
© 2000 Mena Report (www.menareport.com)