Equatorial Guinea: Ministry of Mines and Hydrocarbons Awards Saipem $90m Gas Project

0
87
H.E-Gabriel-Mbega-Obiang, Minister for Mines and Hydrocarbons, Republic of Equatorial Guinea

Equatorial Guinea’s Ministry of Mines and Hydrocarbons has awarded Italian firm, Saipem, a $90 million gas pipeline project.

The 70-km gas pipeline will link the Alen Unit, operated by Noble Energy, and the petrochemical complex of Punta Europa.

The Ministry of Mines and Hydrocarbons said the contract, will be strictly monitored to ensure that it benefits the local people.

The Alen gas project is expected to monetize some 600 Bcfe gross recoverable gas resources from the Alen gas and condensate field. The field, located in Blocks O and I, has been producing condensate since 2013.

“We anticipate that this contract, which is being approved exceptionally under the given circumstances, will contribute immensely to improving the performance of local businesses and the creation of employment, as it is priority of the Ministry,” Equatorial Guinea’s Minister of Mines and Hydrocarbons, H.E. Gabriel Mbaga Obiang Lima said in statement copied to energynewsafrica.com.

The final investment decision of the gas monetization project of the Alen-Backfilling unit was signed in Malabo in April.

The “backfill” links producing gas fields in Equatorial Guinea to onshore LNG facilities. It is widely considered the first phase of the Gas Megahub vision, which aims to turn the Island of Bioko into a mega-center of gas processing.

 

 

LEAVE A REPLY

Please enter your comment!
Please enter your name here