Bahrain to build 400kV line
MANAMA: Bahrain is set to launch a major 400 kV electricity transmission line aimed at reducing short circuits and ensuring transfer of electricity from the production plants to load centres across the kingdom, said a report.
The BD180-million ($474 million) project, implemented by the German company Siemens at the Hidd Power Station, will be inaugurated by His Royal Highness Prime Minister Prince Khalifa bin Salman Al Khalifa, reported the BNA. Energy Minister Dr Abdulhussain Mirza said this was one of the vital projects implemented by the Electricity and Water Authority. The next few years, he said, will see three major electricity transfer stations also being built. According to him, the project aims to meet all the needs of development and facilitate the exchange of electric power with the GCC network.
Iran, Oman eye new firm
TEHRAN: Top officials from Iran and Oman recently discussed options to form a company which will be registered in Oman with the sole responsibility of market natural gas to other parts of the world, a report said. During the meeting, the officials also discussed ways implement the pipeline project via which Iran will export 28 million cu m of gas to Oman, reported Oman Observer.
"Oman and Iran will cooperate on the issue of oil prices," Dr Mohammed bin Hamad al Rumhy, Oman’s Minister of Oil and Gas was quoted as saying in the report.
He added that his visit to Tehran was aimed at discussing issues hindering the implementation of the gas pipeline project. Bijan Zanganeh, Iran’s Oil Minister, said that South Korea has pledged to finance the project and purchase the gas.
Sonatrach awards deals
ALGIERS: Algerian state energy company Sonatrach has awarded US oil service firms Schlumberger and Weatherford contracts for cementing and pumping services, a Sonatrach document said. Schlumberger was awarded a $75 million contract, and Weatherford a $11 million contract, according to the document seen by Reuters. Baker Hughes has also secured a $50 million contract through its Algerian unit BJSP, in which Sonatrach owns 51 per cent. The fourth contract worth $44 million has been awarded to the Emirati firm NPS.
Taqa mulls bond issue
LONDON: Abu Dhabi National Energy Company (Taqa) is the latest entity from the region considering an international bond, according to several sources. The company sent an RFP to banks recently, which was due on May 8. If Taqa issues, it would follow in the footsteps of the sovereign, which raised $5 billion last month through a duAl tranche offering. Another state-owned Abu Dhabi company, Mubadala, is in the market with a $500 million seven-year bond, which it has begun marketing at 170bp area over mid-swaps.
Oil investment fund, IPIC, is also rumoured to be considering a deal at some point, though the timing is uncertain.
