INTERNATIONAL BRIEFS

COMPANIES

OGJ 100 list of leading oil and gas companies outside the U.S. (OGJ, Sept. 30, p. 76), included incorrect financial data for Royal Dutch/Shell Group. The correct 1990 and 1989 figures, with 1989 data in parentheses, are: total assets $106.431 billion ($90.193 billion), revenues $132.414 billion ($106.09 billion), net income $6.533 billion ($6.539 billion), and capital/exploratory spending $10.647 billion ($10.111 billion).

PETROCHEMICALS

IRAN'S Deputy Minister of Mines and Metals for Economic and International Affairs signed an agreement in principle with Japan's Kobe Co. for partnership in a $6 billion petrochemical complex proposed for Iran's Qeshm Island free trade zone. The complex will produce about 600,000 metric tons/year of methanol, urea, and ammonia and is to be complete by 1995. The Qeshm FTZ will hold 60% interest in the complex, with Kobe and partners holding the remainder.

TITAN GROUP received underwriting commitments for $300 million from 11 Malaysian and international banks for its petrochemical complex at Johore, Malaysia (OGJ, Dec. 17, 1990, p. 32). Total investment, including second and third phases, is $450 million. First phase involves construction of a polypropylene plant, currently being commissioned, second phase is construction of a flexible naphtha-liquefied petroleum gas cracker, and third phase is a polyethylene plant.

INDONESIA'S Batik Keris Group and South Korea's Sunkyong Group formed Sunkyong Keris Indonesia, a joint venture to build a 300,000 metric ton/year polyester plant at Tangerang, on the outskirts of Jakarta. Construction is to begin next month with completion expected in late 1992. The company is capitalized at $25 million. Sunkyong subsidiaries will provide 85% of the investment and Batik Keris subsidiary Rempoa Filament the remainder.

PIPELINES

PETROZIM LINE (PVT) LTD., a joint venture of Zimbabwe National Oil Co. and Lonrho plc, received a $23 million loan from International Finance Corp. for a Zimbabwe products pipeline. Petrozim plans to complete the $66.7 million, 204 km line from Feruka to Harare by July 1993. The line extends an existing system from the port of Beira, Mozambique, to Feruka and will replace rail and truck transport.

NORTH AEGEAN PETROLEUM CO., Athens, let contract to Wellstream Corp., Panama City, Fla., to design, manufacture, and lay an 18 km, 5.3 in. flexible gas recirculation pipeline in NAPC's Prinos field in the Aegean Sea off Greece. It would be an industry record for the longest continuous flexible pipeline, Wellstream said. Manufacturing was to begin Oct. 1, with laying scheduled for June 1992.

EXPLORATION

GARNET RESOURCES CORP., Houston, 1 Miraflor wildcat in Colombia swab tested a total of 2,933 b/d of 26.4-27.5 gravity oil from four zones at 5,868-6,800 ft. Garnet's Colombian operations are handled by its Argosy Energy International unit.

SUN OIL (THAILAND) LTD. was awarded 100% interest in Block B7/32 off Thailand from the Thai government. The 3 year contract covers seismic and well commitments. Sun already holds three Thai blocks currently under force majeure because of disputed territorial waters in the Gulf of Thailand.

A COMBINE OF Mitsubishi Gas Chemical Co., Japan Petroleum Exploration Co., and C. Itoh & Co. started exploring for coal seam gas in Australia, industrial daily Nikkan Kogyo Shimbun reported. The venture is exploring a huge coal seam in a sedimentary basin in Queensland. Plans call for exploratory drilling to begin by the end of 1994, with commercial production possible a year later. Mitsubishi hopes to convert the gas to methanol and ship the methanol to Japan, the newspaper reported.

DRILLING-PRODUCTION

ELF AQUITAINE NORGE won Norwegian government approval to develop Lille-Frigg field in the North Sea with three subsea wells remotely controlled from Frigg field (OGJ, Sept. 2, p. 60). The company awarded a 360 million kroner contract to Aker Subsea for engineering, procurement, fabrication, and testing of the central manifold and two satellite installations for delivery in May 1993.

CONOCO NORWAY INC. let contracts to two companies in Norway's Kvaerner Group for work on its concrete tension leg platform for Heidrun oil and gas field off Norway (OGJ, Sept. 2, p. 57). Rosenberg Verft yard, Stavanger, will build an $8.75 million subsea drilling template weighing 2,000 metric tons with slots for 56 wells. Kvaerner Engineering AS will provide detailed design for the riser system under a contract worth $2.1 million.

NORSKE SHELL AS let a $42 million contract to Aker Engineering AS for detailed engineering and procurement of the first phase of Troll gas platform in the Norwegian North Sea. Work started this month and is scheduled for completion by May 15, 1993. Troll is to start up in 1996.

AMERADA HESS LTD. increased estimated reserves in Ivanhoe, Rob Roy, and Hamish oil fields in the U.K. North Sea to 128 million bbl from 117 million bbl. All three produce through a single floating production platform. Pict Petroleum plc, a partner in the fields, said reserves were upgraded to 117 million bbl from 106.5 bbl at the first of this year, and the latest upgrade stems from continued excellent production performance.

REFINING

SHELL CHEMIE, France, started up a 35,000 ton/year lube additives blending plant at its Berre complex near Marseilles (OGJ, Mar. 5, 1990, p. 31). The $19.26 million unit is the first stage of an integrated facility for lube additives to be built at Berre by 1993 at a cost of $122.6 million. The new unit doubles Shell Chemie's capacity and expands service of accurate and controlled blending of components into additives packages for the lubricants industry.

GOVERNMENT

CONGO asked World Bank to audit Elf Congo and Agip Recherches Congo to determine whether fiscal conditions in cooperation agreements both companies signed in 1968 should be changed. Congo information Agency said the tax arrangements gave Elf and Agip a special 25 year tax regime that expires in 1993. Two years ago, the Congolese government indicated its willingness to extend the special regime to 2005.

MARKETING

ELF U.K. LTD. agreed to buy 150 gasoline filling stations in the U.K. from Heron International plc, bringing the number of Elf stations in Britain to 800 and increasing its market share to 5.4%. Two thirds of these stations will be transferred the next 6 months and the remainder in early 1993.