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World bank endorses water resources strategy
March 2003
Pump Industry Analyst
The G-13-2 well encountered 397 feet of net oil pay. It was drilled to a total depth of 12 565 feet in 2625 feet of water. The G-13-2 well is located about 2.3 miles southeast of the G-13 discovery well and 13 miles south of the Ceiba Field.
MARKET PROSPECTS
FLUOR/PARSONS JV RECONFIRMED AS PRIME EPCM CONTRACTOR PFD UK Ltd, a joint venture between Fluor Corp and Parsons E&C, has been reconfirmed by Tengizchevroil (TCO) as contractor for engineering, procurement and construction management (EPCM) services for the restarted Second Generation and Sour Gas Injection (SGP/SGI) Projects at the Tengiz and Korolev Fields in Kazakhstan. The PFD joint venture will manage SGP/SGI project execution with an estimated value of US$2.6 billion. The contract is worth US$1.3 billion to Fluor and is subject to annual budget authorizations by the client.
SANTOS SELECTS AKER KVAERNER FOR ACE PROJECT The Australian gas producer Santos has awarded Aker Kvaerner’s E&C Australia operations a contract to provide overall project management, engineering, procurement and construction management for its Asset Control Enhancement (ACE) project. Aker Kvaerner’s contract is valued at approximately A$16 million. The ACE project involves a complete upgrade of the control facilities at the large Moomba Gas Processing and Natural Gas Liquids Facility in the remote far north of South
4
Australia. The overall budget for the project is in the region of A$68 million. The project will be executed through an alliance between Santos, Aker Kvaerner and Emerson, modelled on North Sea alliance contracting principles. All the modifications have to be implemented without interrupting gas supply to a number of large and important consumer markets, particularly on the south and east coast of Australia. Completion is planned for December 2004.
PETROCHEMICALS CONTRACT AWARDED FOR TWO PETRO PLANTS IN CHINA Shanghai Secco Petrochemical Co, a joint venture between Sinopec and BP, has awarded a US$205 million lump sum turnkey contract for the design and construction of two polyethylene plants in Caojing, China to Technip-Coflexip, in association with Sinopec Shanghai Engineering Co (SSEC). Each plant will produce 300 000 tons per year of Linear Low Density Polyethylene (LLDPE) and will use BP’s gas phase technology Innovene. This project is part of the Caojing petrochemical complex currently being developed by the joint venture company made up of BP, Sinopec and Shanghai Petrochemical Corp, which represents one of the largest-ever foreign investments in China. Technip-Coflexip has already completed the Front End Engineering Design and will carry out, in association with SSEC, the detailed engineering, equipment supply, construction and precommissioning. The plants are scheduled to be delivered, ready for start-up, at the end of February 2005.
HHI WINS PIPE PROJECT Hyundai Heavy Industries’ Offshore & Engineering Division has received a turnkey order for offshore pipe laying construction worth US$120 million from China Petroleum and Chemical Corp (SINOPEC). This project is to connect Hangzhou, 50 km south of Shanghai, China, with 160 km long subsea pipes. It will include a 28-inch diameter pipeline, a 30-inch diameter pipeline and a 10-inch diameter pipeline transporting crude oil and naphtha that are each 53.5 km, totaling 160 km in length. Starting in February 2003, HHI will complete the project by April 2004.
WATER & WASTEWATER EXTRA FUNDING FOR ASIAN WATER The Netherlands Government has made an additional contribution of US$4 million to the Asian Development Bank’s Cooperation Fund for the Water Sector (CFWS). The CFWS was established in December 2001 with an initial contribution from the Netherlands of about US$4 million as a multidonor facility to promote effective water management policies and practices at the regional, subregional and country levels. The initial contribution has been funding a regional technical assistance project, approved in April 2002, to promote effective water management policies and practices including pilot demonstration activities in the Maldives, Nepal, Timor-Leste and Vietnam to support innovative water management approaches and promote local initiatives; and support for national and
regional water partnerships in the Pacific, Southeast Asia and the Mekong region. The CFWS program is due to end in November 2006.
WORLD BANK ENDORSES WATER RESOURCES STRATEGY The World Bank has endorsed a new Water Resources Strategy aimed at providing more effective assistance to countries, using water as a vehicle for increasing growth and reducing poverty in a socially and environmentally responsible manner. By providing water access to unserved millions through more efficient use of existing resources and by strengthening capacity in poor countries, the new strategy will make a significant contribution to the international development goal of halving poverty by 2015. Currently, about 16% of all World Bank lending is for water - with about 4% for water resources management, and similar amounts for each of the main water-service sectors (potable water and sanitation, irrigation and drainage, and hydropower). Lending is projected to continue to grow over the next three years. Bank executive directors commended the new strategy for its focus on poverty and for its balanced approach to supporting both better water resource management as well as priority new infrastructure. They also welcomed the emphasis given to environmental and social safeguards in order to ensure the sustainability of programs and projects. The newly-released strategy reflects the demand from poor countries for a more balanced approach in which better management of existing resources is complemented by investment in priority water infrastructure.
Pump Industry Analyst
The G-13-2 well encountered 397 feet of net oil pay. It was drilled to a total depth of 12 565 feet in 2625 feet of water. The G-13-2 well is located about 2.3 miles southeast of the G-13 discovery well and 13 miles south of the Ceiba Field.
MARKET PROSPECTS
FLUOR/PARSONS JV RECONFIRMED AS PRIME EPCM CONTRACTOR PFD UK Ltd, a joint venture between Fluor Corp and Parsons E&C, has been reconfirmed by Tengizchevroil (TCO) as contractor for engineering, procurement and construction management (EPCM) services for the restarted Second Generation and Sour Gas Injection (SGP/SGI) Projects at the Tengiz and Korolev Fields in Kazakhstan. The PFD joint venture will manage SGP/SGI project execution with an estimated value of US$2.6 billion. The contract is worth US$1.3 billion to Fluor and is subject to annual budget authorizations by the client.
SANTOS SELECTS AKER KVAERNER FOR ACE PROJECT The Australian gas producer Santos has awarded Aker Kvaerner’s E&C Australia operations a contract to provide overall project management, engineering, procurement and construction management for its Asset Control Enhancement (ACE) project. Aker Kvaerner’s contract is valued at approximately A$16 million. The ACE project involves a complete upgrade of the control facilities at the large Moomba Gas Processing and Natural Gas Liquids Facility in the remote far north of South
4
Australia. The overall budget for the project is in the region of A$68 million. The project will be executed through an alliance between Santos, Aker Kvaerner and Emerson, modelled on North Sea alliance contracting principles. All the modifications have to be implemented without interrupting gas supply to a number of large and important consumer markets, particularly on the south and east coast of Australia. Completion is planned for December 2004.
PETROCHEMICALS CONTRACT AWARDED FOR TWO PETRO PLANTS IN CHINA Shanghai Secco Petrochemical Co, a joint venture between Sinopec and BP, has awarded a US$205 million lump sum turnkey contract for the design and construction of two polyethylene plants in Caojing, China to Technip-Coflexip, in association with Sinopec Shanghai Engineering Co (SSEC). Each plant will produce 300 000 tons per year of Linear Low Density Polyethylene (LLDPE) and will use BP’s gas phase technology Innovene. This project is part of the Caojing petrochemical complex currently being developed by the joint venture company made up of BP, Sinopec and Shanghai Petrochemical Corp, which represents one of the largest-ever foreign investments in China. Technip-Coflexip has already completed the Front End Engineering Design and will carry out, in association with SSEC, the detailed engineering, equipment supply, construction and precommissioning. The plants are scheduled to be delivered, ready for start-up, at the end of February 2005.
HHI WINS PIPE PROJECT Hyundai Heavy Industries’ Offshore & Engineering Division has received a turnkey order for offshore pipe laying construction worth US$120 million from China Petroleum and Chemical Corp (SINOPEC). This project is to connect Hangzhou, 50 km south of Shanghai, China, with 160 km long subsea pipes. It will include a 28-inch diameter pipeline, a 30-inch diameter pipeline and a 10-inch diameter pipeline transporting crude oil and naphtha that are each 53.5 km, totaling 160 km in length. Starting in February 2003, HHI will complete the project by April 2004.
WATER & WASTEWATER EXTRA FUNDING FOR ASIAN WATER The Netherlands Government has made an additional contribution of US$4 million to the Asian Development Bank’s Cooperation Fund for the Water Sector (CFWS). The CFWS was established in December 2001 with an initial contribution from the Netherlands of about US$4 million as a multidonor facility to promote effective water management policies and practices at the regional, subregional and country levels. The initial contribution has been funding a regional technical assistance project, approved in April 2002, to promote effective water management policies and practices including pilot demonstration activities in the Maldives, Nepal, Timor-Leste and Vietnam to support innovative water management approaches and promote local initiatives; and support for national and
regional water partnerships in the Pacific, Southeast Asia and the Mekong region. The CFWS program is due to end in November 2006.
WORLD BANK ENDORSES WATER RESOURCES STRATEGY The World Bank has endorsed a new Water Resources Strategy aimed at providing more effective assistance to countries, using water as a vehicle for increasing growth and reducing poverty in a socially and environmentally responsible manner. By providing water access to unserved millions through more efficient use of existing resources and by strengthening capacity in poor countries, the new strategy will make a significant contribution to the international development goal of halving poverty by 2015. Currently, about 16% of all World Bank lending is for water - with about 4% for water resources management, and similar amounts for each of the main water-service sectors (potable water and sanitation, irrigation and drainage, and hydropower). Lending is projected to continue to grow over the next three years. Bank executive directors commended the new strategy for its focus on poverty and for its balanced approach to supporting both better water resource management as well as priority new infrastructure. They also welcomed the emphasis given to environmental and social safeguards in order to ensure the sustainability of programs and projects. The newly-released strategy reflects the demand from poor countries for a more balanced approach in which better management of existing resources is complemented by investment in priority water infrastructure.