Monday, August 07, 2006

Oil and Gas: Malaysia's Petronas wins Ethiopian gas field tender

Malaysian oil company Petronas, has won Ethiopia's Calub and Hilala gas field development tender. A government official, who declined to be named, said the decision was made after evaluating the proposal presented by Petronas.

I would hope it would have been!

The official said the ministry and Petronas will sign a development agreement to enable the firm to develop the gas fields that lie on 285 sq km of land. Gail India Ltd and Dinder of Sudan also bid for the tender.

Studies indicate that LPG, petrol, diesel, jet fuel and kerosene can be produced from the gas reserve. Petronas has proposed to invest up to $1.9 billion.