[Anton Dooley]

KBR’s Phenol Technology Selected by Saudi Aramco and Sumitomo for Rabigh II Project Feasibility Study
Wednesday, Dec 09, 2009

KBR (NYSE: KBR) today announced that it has been awarded a contract by the Saudi Arabian Oil Company (Saudi Aramco) and Sumitomo Chemical Co., Ltd. (Sumitomo) to provide basic engineering and related services for its phenol technology in support of a detailed feasibility study for development of the companies’ joint Rabigh II Project. The project is planned as a major expansion of the existing petroleum refining and petrochemical production complex in Rabigh, Saudi Arabia.

KBR will provide a basic engineering package and related services to facilitate the feasibility study, a joint initiative between Saudi Aramco and Sumitomo. The study is designed to evaluate the viability of investment in the Rabigh II Project, which includes an ethane cracker, a new aromatics complex and various petrochemical units including phenol and acetone. KBR looks forward to participating in its second grassroots phenol project in Saudi Arabia and building on our existing technology portfolio in the Middle East market,” said Tim Challand, President, KBR Technology. “Upon successful completion of the feasibility study, we also look forward to providing our innovative phenol technology to the project and assisting Saudi Aramco and Sumitomo in achieving their production goals for Rabigh II.”

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Foster Wheeler and Sofcon secure Saudi Aramco FEED contract
Tuesday, Dec 08, 2009

Foster Wheeler and Sofcon have been awarded the FEED study for the phase one of a program to develop gas supplies from the Shaybah field. The joint venture has been awarded by Saudi Aramco.

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Technip Awarded Contract for the Ã…sgard Gas Transfer Project in Norway
Tuesday, Dec 08, 2009

Technip has been awarded by Statoil ASA an engineering, procurement, construction and installation lump sum contract, worth in excess of €23 million, for the Åsgard Gas Transfer Project(1). The Åsgard field is located on the Norwegian Continental Shelf at a water depth of 300 meters.

The contract covers fabrication and installation of an approximately 4 kilometer-long rigid flowline(2) in 2010 and the replacement of two flexible risers(3) in 2011.

The contract will be executed by the Group’s operating center in Oslo, Norway. The flowline fabrication will be executed by the Technip spoolbase in Orkanger while installation will be performed by the newly converted Apache II. The marine operations in 2011 will be from Skandi Arctic.

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WorleyParsons and joint venture partners awarded TVA contract for Maintenance and Modification Construction Services
Thursday, Nov 26, 2009

WorleyParsons is pleased to announce that the Tennessee Valley Authority (TVA) Board has approved awarding a contract to G.UB.MK Constructors, a joint venture of WorleyParsons, Williams Plant Services and URS Corporation’s Washington Division, for maintenance and modification construction services at TVA’s electric generation facilities. These facilities include seven coal-fired plants and all of its hydroelectric facilities located primarily in Tennessee, Kentucky and Alabama, and some work in North Carolina, Virginia and Mississippi. This is a major power Improve contract for WorleyParsons, which demonstrates the team’s success in long-term asset services and our commitment to work effectively with TVA and our joint venture partners. WorleyParsons’ Improve offering focuses on existing plant operations, delivery of major projects, upgrades, improvements and maintenance projects to sustain assets and improvement to our customers’ business performance.

“We are pleased that TVA continues to recognize the expertise of G.UB.MK Constructors in effective planning and successful execution of large scale power plant maintenance, modifications, and improvement projects. G.UB.MK is proud to be part of the solutions to industry challenges that our customers face in such difficult economic circumstances using our Improve approach and suite of services as a basis” said Mr John Grill, WorleyParsons’ Chief Executive Officer.

The contract has a base term of five years and a total maximum contract value of US $950 million over the base period.

G.UB.MK Constructors has been working with TVA on similar work since 1991, performing modifications, maintenance and capital improvements on 30 individual boiler plants at six coal-fired power generating stations totaling 7,900 megawatts and all of TVA’s hydroelectric facilities. The primary focus of G.UB.MK continues to be a positive working relationship with the TVA Trades & Labor to achieve zero safety incidents, continuous reduction of the cost of modification projects and the return of generating units to service in support of TVA’s mission of providing reliable and economic power for its customers throughout the Tennessee Valley region.

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Dow Announces Formation of Pfenex Inc.
Wednesday, Dec 09, 2009

The Dow Chemical Company (NYSE: DOW) today announced that it has formed a new independent company that will be known as Pfenex Inc.¹ through its Dow Venture Capital group. The new company, headquartered in San Diego, California, is based on human health applications of a Dow-developed technology called Pfenex Expression Technology™, a robust Pseudomonas fluorescens-based platform that uses high throughput, parallel processing methodologies for optimized protein production.

The action is consistent with Dow’s strategy of active portfolio management. Due to the long-term promise of the technology, Dow will hold a significant minority stake in Pfenex along with Signet Healthcare Partners, an experienced venture capital investor focused on the healthcare sector. Financial terms are not being disclosed

Pfenex is a biotechnology company specializing in strain engineering and protein production, helping to accelerate the development of new biopharmaceutical therapeutics and vaccines that address critical human health issues from infectious diseases to oncology. Using a high throughput parallel processing, robotically enabled approach based on the bacterium Pseudomonas fluorescens, the platform produces high quality protein for discovery, research, development and commercial use.

“We are very pleased to help establish Pfenex as an independent company that will accelerate further development of this valuable technology and help bring solutions to human health needs,” said Heinz Haller, Dow executive vice president, Performance Systems. “As we are actively managing Dow’s business portfolio, we also are maximizing value by applying the experience of Dow Venture Capital and its model for growing companies with novel and game-changing technologies that have the potential for significant equity value.”

Dow’s contribution to Pfenex includes Pfenex Expression Technology™ for human health applications, protein production assets, customer contracts and lists, process technology, trademarks, certain intellectual property, and approximately 20 experienced employees.

“We are extremely pleased to partner with Signet Healthcare Partners in forming this new company,” said Ken Van Heel, global director, Dow Venture Capital. “Dow has invested in this business over the past five years to the point that the team, technology and initial commercial success provide the basis for an independent company with the potential for significant growth in this new independent business model.”

“We are excited about Pfenex Expression Technology and the value of its protein expression system in surmounting barriers and shortening timelines in drug development,” said James Gale, managing director of Signet Healthcare Partners. “We are honored to be a partner of Dow in this transaction which we believe will enhance value for all Pfenex stakeholders.”

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ExxonMobil Announces Approval on PNG LNG Project

Exxon Mobil Corporation announced today that the co-venturers have agreed to proceed with the development of the Papua New Guinea (PNG) liquefied natural gas (LNG) project, pending completion of sales and purchase agreements with LNG buyers and finalisation of financing arrangements with lenders.

At a ceremony at the PNG National Parliament House in Port Moresby, Peter Graham, managing director of Esso Highlands Limited, an ExxonMobil subsidiary, announced that pending completion of these sales and financing arrangements, significant project activity will commence in 2010. Esso Highlands is the operator of the project.

“With global demand for LNG forecast to nearly triple by 2030, the PNG LNG Project will be an important supply source to meet this future demand, particularly for the economies in the fast growing Asia Pacific region,” said Neil Duffin, president of ExxonMobil Development Company. “The supply of cleaner-burning natural gas will also be critical in helping reduce global emissions. The co-venturer approval of the PNG LNG Project is a significant milestone. We look forward to applying our world-class execution capabilities and continuing to work together cooperatively with the PNG government to bring this resource to production.”

PNG Prime Minister Sir Michael Somare presided over the announcement ceremony, attended by PNG government ministers and governors. Somare said, “Project operator ExxonMobil and our other private sector development partners have shown significant confidence in our country. Cooperation between the public and private sectors will create value for the Papua New Guinea society as a whole and will grow our economy in the future.”

The PNG LNG Project is an integrated development that includes gas production and processing facilities, onshore and offshore pipelines and liquefaction facilities with capacity of 6.6 million tons per year. Participating interests include affiliates of ExxonMobil (including Esso Highlands Limited as operator, 33.2 percent), Oil Search Limited (29.0 percent), Independent Public Business Corporation (PNG Government, 16.6 percent), Santos Limited (13.5 percent), Nippon Oil Exploration (4.7 percent), Mineral Resources Development Company (PNG landowners, 2.8 percent) and Petromin PNG Holdings Limited (0.2 percent).

ExxonMobil is currently participating in LNG production in Qatar and Indonesia with a combined gross capacity of over 50 million tons per year, supplying markets in Asia, Europe and North America. The company is also participating in the development of LNG in Australia. Global LNG demand is expected to grow about 4 percent per year through 2030, at which time LNG is expected to meet about 15 percent of the world’s demand for natural gas.

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ABB Wins $26 Million Order to Power Refinery in Greece

ABB, the leading power and automation technology group, has won an order worth $26 million from Hellenic Petroleum SA to provide an integrated power and automation system for the upgrade of Hellenic Petroleum’s Elefsina refinery, west of Athens. The environmentally friendly refinery will manufacture products in accordance with best in class technology and global standards to minimize environmental impact.

ABB will design, supply, install and commission the electrical and automation system to power the refinery. The turnkey electrical solution aims to strengthen the reliability and quality of power supply to the refinery, while improving energy efficiency and reducing overall electricity consumption and costs. The project is expected to be completed by 2010.

ABB will supply medium-voltage equipment including the latest ZX2 gas-insulated switchgear and ZS1 Unigear air-insulated switchgear. ABB will also install intelligent low-voltage switchgear (MNSiS) as well as a fully automated power management and load shedding system based on the company’s System 800xA automation platform and IEC 61850 compatible communication networks. Integrating the electrical and automation system on the common 800xA platform provides additional benefits including reduced maintenance, engineering and overall lifecycle costs.

“This versatile solution is a good example of how ABB’s power and automation technologies combine to deliver integrated industry solutions to optimize operational costs, enhance plant performance and improve energy efficiency,” said Franz-Josef Mengede, head of the global Power Generation business, a part of ABB’s Power Systems division.

Published 01/12/09

Hellenic Petroleum S.A. one of the largest industrial groups in Greece and a leading energy company primarily engaged in refining and marketing of petroleum products, petro-chemicals, power production and natural gas. The company operates three refineries in Thessalonica, Elefsina and Aspropyrgos, accounting for nearly three fourths of the total refining capacity in Greece.

ABB is a leader in power and automation technologies that enable utility and industry customers to improve their performance while lowering environmental impact. The ABB Group of companies operates in around 100 countries and employs about 120,000 people. ABB has multiple locations throughout the United Kingdom.

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