Canada’s Ivanhoe Energy has indicated further advancements to the Ivanhoe/CITIC worldwide strategic alliance and plans commence discussions relating to a proposed gas to liquid (GTL) facility in Egypt.
Ivanhoe was recently invited by Egyptian authorities to return to Cairo to continue commercial discussions relating to a proposed GTL facility in Egypt. The company has been in discussions over the past three years with Egyptian authorities on GTL facilities ranging up to 90,000 barrels-per-day (bpd).
Current discussions are related to a 45,000 bpd facility that would be located at El Hamra along the coast of the Mediterranean Sea, west of Alexandria. The feasibility studies that the company has undertaken contemplate the natural gas feedstock being purchased, rather than developed. The company plans to commence these discussions in September.
Ivanhoe's principal current projects are in California, Texas, and China. In California's southern San Joaquin Basin, Ivanhoe has interests in more than 60,000 exploration acres. In China, the company is heading a development program of new and reworked wells to enhance oil recoveries on 22,400 acres on the Dagang oil field, and the exploration and development of a nearly one million acre block in the Sichuan Province. — (menareport.com)
© 2003 Mena Report (www.menareport.com)
