FINANCIAL NEWS

Abu Dhab, Oxy JV set to operate a gas plant in 2014

28 Mar 2012

(MENAFN) Abu Dhabi National Oil Company (Adnoc), Occidental Petroleum (Oxy) will operate a sour-gas plant in the third quarter of 2014, Bloomberg reported.

Saif Al Ghafli, CEO of Al Hosn Gas, a USD10 billion joint venture between the two companies, said that the engineering works are in the final stages and going into construction phase.

Output from the Shah field will be processed to produce 200 billion cubic feet of usable gas a year, about 500 million cubic feet a day, Al Ghafli said.

Abu Dhabi is developing its own natural-gas reserves to meet rising local energy demand.

The emirate holds the world’s sixth-largest reserves of gas according to US Energy Information Administration data. Its gas deposits are mainly high in sulfur or sour.

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