Gulf Oil and Gas accountACCOUNT

CNOOC is Seeking Hunt Oil's Stake in Yemen Project

Source: www.gulfoilandgas.com 1/30/2007, Location: Middle East

Share |
China National Offshore Oil Corp. is in talks to buy Hunt Oil Co.'s stake in Yemen's first liquefied-natural-gas project to help it meet China's fast-rising energy needs, according to company officials familiar with the situation.

Cnooc has made a nonbinding offer of slightly less than $600 million for closely held Hunt Oil's assets, as part of its long-term strategy of finding supplies for future LNG import terminals that it is building along China's coast, the officials said.

Dallas-based Hunt has a 17.22% stake in Yemen LNG Co., which is developing a $3.7 billion project to produce 6.7 million tons a year of LNG for the first time in the Middle East's poorest state, located on the Red Sea and the Gulf of Aden. First output is scheduled at the end of 2008.

Talks between Cnooc and Hunt come at a time when U.S. lawmakers have expressed concern at a proposed $16 billion LNG investment by Cnooc in Iran, which Washington worries will undermine its efforts to isolate Tehran for refusing to abandon its nuclear program.

Gas Processing >>

Gas Processing News in Yemen >>

Saudi Arabia >>  12/16/2017 - Saudi Aramco has awarded Schlumberger two lump sum contracts for drilling rigs and services for oil and gas wells. Under the contracts, Schlumberger I...
Iraq >>  12/13/2017 - Petrofac’s Engineering & Production Services (EPS) division has secured an award worth US$160 million from Basra Oil Company (BOC), previously known a...

Oman >>  12/12/2017 - Petrofac has been awarded a lump-sum contract worth approximately US$800 million by BP for the Phase 2 central processing facility (CPF) at the Khazza...
Bahrain >>  12/4/2017 - TechnipFMC announced that, jointly with Samsung Engineering and Tecnicas Reunidas, it has been awarded a $4.2 billion USD contract from Bahrain Petrol...

Qatar >>  12/4/2017 - Ampelmann has secured a contract to supply its A-type gangway system to North Oil Company (NOC) on the chartered Bourbon Gulf Star DP2 72 PAX support ...
Kuwait >>  11/29/2017 - Oil requirements also increased in Kuwait and the UAE by 3% and 2%, respectively, y-o-y as growth in the transportation fuels appeared to be the main ...

Related Categories: Deodorization system  Gas dehydration  Gas sweetening  Gas Treating  General  GTL Processing  LNG Processing  LPG Domestic use  LPG Odorless  Packing  Phase Separation  Scrubbers 

Related Articles: Gas dehydration  Gas sweetening  Gas Treating  General  GTL Processing  LNG Processing  LPG Domestic use  LPG Odorless  Packing  Phase Separation  Scrubbers 


Yemen Oil & Gas 1 >>  2 | 3 | 4 | 5 |

Oil & Gas Projects in Yemen >>

More News

 

Oil & Gas Companies in Yemen >>


Related Links

AE BH IL IQ JO KW LB OM QA SA SY YE
Gulf Oil and Gas
Copyright © Universal Solutions All rights reserved. - Privacy Policy.