Global Energy Sector Update: New Developments and Expansions

Strategic Insights -

Iran is planning to revive the development of the North Pars gas field, a move that could potentially unlock vast gas reserves of 1.4 trillion cubic meters. The project aims to use gas from the initial phase for reinjection into three depleted onshore oil fields. Meanwhile, Oman has awarded a contract to US power firm AES for the development of a natural gas-fired power and desalination plant in northern Oman. Abu Dhabi is also planning to increase its oil production capacity by 200,000 barrels per day, although no target date has been set. Additionally, Morocco has granted licenses to several international companies for offshore exploration in the Atlantic Ocean, while Abu Dhabi has suspended plans to sell equity stakes in Zadco.

Key Takeaways:

  • Iran plans to revive the North Pars gas field, which holds 1.4 trillion cubic meters of gas reserves.
  • The project aims to use gas for reinjection into three depleted onshore oil fields.
  • Oman has awarded a $425mn contract to AES for the development of a 427MW natural gas-fired power and desalination plant.
  • Abu Dhabi is planning to increase its oil production capacity by 200,000 barrels per day.
  • Morocco has granted licenses to several international companies for offshore exploration in the Atlantic Ocean.
  • Abu Dhabi has suspended plans to sell equity stakes in Zadco due to opposition from UAE officials.
  • The North Pars field is a joint venture between Iran's Pars Oil and Gas and several international partners.
  • The Barkha power and desalination plant in Oman is expected to start operations in 2003.
  • The project will be built by an international consortium including Italy's Enelpower and Japan's Hitachi Zosen.

Statistics:

  • 1.4 trillion cubic meters: gas reserves held by North Pars gas field.
  • 200,000 barrels per day: planned increase in Abu Dhabi's oil production capacity.
  • $425mn: contract value for the Barkha power and desalination plant in Oman.
  • 427MW: electricity capacity of the Barkha power plant.
  • 20mn gallons per day: water capacity of the Barkha desalination plant.
  • 90%: ownership stake of AES in the Barkha power and desalination plant.
  • 14.67% and 13.33%: planned equity stakes of BP and TotalFinaElf in Zadco respectively.

Sources:

  • "Iran Replans North Pars" - no source provided.
  • "Oman Signs New Power Project" - no source provided.
  • "Morocco Grants Contracts" - no source provided.
  • "Abu Dhabi Plans Capacity Increase" - no source provided.
  • "Abu Dhabi Suspends Sale" - no source provided.
  • "New Oil Pipeline in Algeria" - no source provided.
  • "Another Angolan Oil Find" - no source provided.