Here is this week's round up of capital projects and contracts.
Over the past seven days we have seen the Culzean project take strides forward with USD4.7 billion of investment earmarket for its development; EnQuest PLC preparing to acquire ExxonMobil interests offshore Malaysia; and Mitsubishi Heavy Industries and Siemens AG join forces in a potential Alstom acquisition.
The Maersk Oil UK-operated Culzean project has taken a significant step forward. Maersk Oil UK and its co-venturers JX Nippon Exploration and Production (UK) Limited and Britoil (BP) have chosen a new standalone facility to develop the discovery and the total investment for the project is expected to be in excess of USD4.7 billion.
Azeri state oil company SOCAR has signed a USD3.29 billion financing deal with 23 banks and export credit agencies for the construction of a refinery on Turkey's Aegean coast, reports publics.bg.
SOCAR is building the USD 5.5 billion Star refinery to supply feedstock to petrochemicals maker Petkim, which will help cut Turkey's dependence on imported refined oil products.
Petroperu has awarded Tecnicas Reunidas (TR) the lump sum turnkey contract for the Talara refinery modernisation project in Peru. TR will be responsible for the EPC of the crude processing units for the modernisation of the refinery.
Mitsubishi Heavy Industries (MHI) and Siemens AG have joined forces in evaluating a potential proposal for certain assets of the French multinational conglomerate Alstom, in order to strengthen the future position of the three companies.
Kenya is preparing to invite bidders for the design and construction of a crude of pipeline that would enable East African nations to export its oil discoveries through the Indian Ocean to the Asia-Pacific market, reports the Wall Street Journal.
KazMunaiGas (KMG) and Eni have signed a strategic agreement where each will hold 50 percent of exploration and production rights in Isatay, an offshore exploration area located in the north Caspian Sea. The block is estimated to have significant potential oil resources and will be operated by a joint operating company.
Premier Oil has received approval for its Catcher area field development plan from the UK Department of Energy and Climate Change.
The Premier-operated Catcher area, located in the UK Central North Sea, is expected to produce 96 million barrels of oil equivalent with a peak production rate of around 50,000 barrels of oil per day.
GE Power & Water's Distributed Power business will provide four gas turbines to EPC contractor Jacobsen Elektro AS for a new facility in Kinyerezi. The new, 150-MW natural gas turbine power plant is owned by the local utility, Tanesco.
EnQuest PLC, through its wholly owned subsidiary EQ Petroleum Production Malaysia Ltd has agreed to acquire the ExxonMobil interest in the Seligi oil field and the PM8 PSC, located offshore Malaysia, subject to meeting certain regulatory conditions.
Hyder Consulting completed of the EPC design of Qatar Cool's third district cooling plant in Doha. The plant is being built to supply district cooling to residential and commercial buildings in the West Bay area of the city, a statement from the company said. Source; Construction Week Online.com
Stora Enso has awarded Pöyry with the assignment for the engineering and site services for the pulp mill rebuild and paper machine conversion project at its Varkaus Mill in Finland. The conversion work will be undertaken during autumn 2015 and the machine is scheduled to start up during the fourth quarter of 2015.
Costain has won a contract with Centrica Energy for the provision of EPC services as part of Centrica Energy's Barrow Gas Terminals Project. The Barrow Terminals Project represents a total investment of GBP84 million by Centrica Energy.
Drake & Scull Engineering (DSE) has won two major contracts for the Saraya Aqaba Resort in Aqaba, Jordan for a combined value of USD70.51 million.
Vattenfall has awarded two new multi-million pound contracts for work on its USD678.15 million Pen y Cymoedd wind energy project in south Wales. Express Reinforcements and PrysmianCables & Systems will develop the onshore wind farm in Wales and England, which Vattenfall claims is the largest in England and Wales.
PKN ORLEN has completed its acquisition of Canadian based oil and gas producer, Birchill Exploration LP at total price of USD235.26 million.
Maersk Oil UK Limited has received approval from the UK and Norwegian authorities to develop the Flyndre and Cawdor fields. The fields lie approximately 293 km southeast of Aberdeen in blocks 30/13 and 30/14 of the UK North Sea (Flyndre and Cawdor) and block 1/5 of the Norwegian North Sea (Flyndre only).
PPL Corporation and Riverstone Holdings LLC, a leading energy and power investment firm, have reached a definitive agreement to combine their merchant power generation businesses into a new stand-alone, publicly traded independent power producer - Talen Energy Corporation.
Züblin - the Danish subsidiary of construction group STRABAG SE - is leading a joint venture for Copenhagen's new metro line between Østersøgade and the new Nordhavn metro station The order has a total value of USD67.7 million, with Züblin's share amounting to about EUR90 million.