Atlantic Methanol Production Co., a joint venture of Samedan Oil Corp. and Detroit-based CMS Energy Corp., let a $300 million contract to Raytheon Engineers & Constuctors to build a gas-based methanol plant on Equatorial Guinea's Bioko Island.
The plant will use more than 100 MMcfd of natural gas to produce 2,500 metric tons/day of methanol. It is expected to start up in December 2000.
Gas feed for the plant will come from Alba field off Equatorial Guinea (see map, OGJ, May 7, 1990, p. 56). Interests in Alba-operated by a CMS affiliate-are CMS 40% and Samedan 35%. Samedan is a unit of Noble Affiliates Inc., Ardmore, Okla.
Noble holds a 33.25% revenue interest in the plant until payout, at which time its share will fall to 28%.
Under the turn-key contract, Raytheon will provide engineering, procurement, construction, training, commissioning, and start-up services for the plant and associated facilities. The complex will contain a permanent housing facility, a seawater desalination plant, and an electrical power generation system.
Noble Affiliates Inc. operates a 2,400 b/d LPG plant in Equatorial Guinea that uses feed from Alba field.
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