Questions? +1 (202) 335-3939 Login
Trusted News Since 1995
A service for mining industry professionals · Thursday, December 12, 2019 · 504,696,078 Articles · 3+ Million Readers

Ministry of Mines and Hydrocarbons gives Greenlight to Saipem

Equatorial Guinea’s Ministry of Mines and Hydrocarbons has approved the $90-100 million Alen Unit contract granted to Saipem; the 70km pipeline will have capacity for 950 million cubic feet of gas per day from fields operated by Noble Energy; first gas is expected to be delivered during the first quarter of 2021.

Equatorial Guinea’s Ministry of Mines and Hydrocarbons has approved a 70-km pipeline that will link the Alen Unit, operated by Noble Energy, and the petrochemical complex of Punta Europa within the framework of Equatorial Guinea’s gas monetization project. The $90-100 million contract has been awarded to Italian contractor Saipem. Gas has been re-injected into the field – extending the life of the Liquefied Natural Gas Train 1. First gas is expected to be delivered during the first quarter of 2021.

The contract, which will be strictly monitored by the Ministry of Mines and Hydrocarbons, will financially benefit local companies participating in the multiple agreements identified under the scope of the contract.

“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,” says Equatorial Guinea’s Minister of Mines and Hydrocarbons, H.E. Gabriel Mbaga Obiang Lima.

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.

Distributed by APO Group on behalf of African Energy Chamber.

Media Contact: Mr. Oscar G. Berniko Director General in charge of State Entities Email: oscar.berniko@gmail.com

Powered by EIN Presswire


EIN Presswire does not exercise editorial control over third-party content provided, uploaded, published, or distributed by users of EIN Presswire. We are a distributor, not a publisher, of 3rd party content. Such content may contain the views, opinions, statements, offers, and other material of the respective users, suppliers, participants, or authors.

Submit your press release