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Teen solves centuries-old math problem
Ghana is planning a natural gas plant
Ghana's government announced it recently completed plans to build a new natural gas plant at Atuabo.
The gas will be produced alongside the crude oil from the Jubilee Oil and Gas Fields, the Ghanaian Times reported. The plant will be built in multiple phases, and the first phase will include a 150 million-cubic-feet gas-processing plant.
The cost of the entire project and its attached pipeline infrastructure is estimated at $775 million.
The gas will be processed into both dry gas for power generation at the Effasu power plant and into liquefied petroleum gas for domestic consumption.
The announcement of the finalized gas plant plans is significant as it marks the beginning of the development of Ghana's petrochemical industry.
In secondary phases, downstream processing facilities will be set up as well to produce ethanol, methanol and propane for export, fertilizers for domestic use and granules for the plastic industry.
Turkmenistan will sell gas to Bulgaria
Turkmen President Gurbanguly Berdimuhamedov agreed with Bulgarian President Georgi Parvanov on selling 2 billion cubic meters of natural gas per year to Bulgaria; the price tag was not released.
"I accept with gratitude the willingness to sell Bulgaria natural gas even before the launch of the Nabucco project," Parvanov said.
The gas will be delivered through the existing pipeline network through Russia.
Parvanov said that in spite of his gratitude for the deal, he hoped that Bulgaria would be allowed to retain the opportunity for its domestic companies to explore in the Caspian Sea along with Turkmenistan's company, Focus News Agency reported.
Turkmenistan is estimated to hold the world's fifth-largest reserves of natural gas, about 80 billion cubic meters per year, as well as substantial deposits of oil.
Portugal's Galp Energia wins new blocks
The firm announced it has won eight onshore oil exploration and production blocks in Brazil and is planning an additional investment of $3.6 million. Each block is 30 square kilometers.
Galp said five of the blocks are in the Potiguar development zone and will be operated in partnership with Brazilian state-controlled oil firm Petrobras. The partnership is a 50/50 joint venture, the Macauhub news service reported.
The other three blocks are located in the Amazon Basin in a new exploration zone. Seismic studies have shown the potential for oil finds, but they are still largely unconfirmed.
Galp and Petrobras paid $11.6 million to secure the rights to the three Amazon blocks, which will be operated in a 40/60 partnership, respectively. The partnership contract is a seven-year contract.
Galp, Partex and Angola's Sonangol were among 47 firms to take part in the Brazilian exploration and production auction.
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Closing oil prices, Dec. 19, 3 p.m., London
Brent Crude oil: $43.70
West Texas Intermediate crude oil: $40.50
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(e-mail: energy@upi.com)
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