Saudi and French companies enter into joint natural gas venture

Shoaibi Group have signed a joint venture agreement with French natural gas technology and equipment supplier Prosernat to form Prosernat Saudi Arabia Limited (PNSA). Under the joint venture, PNSA will offer a full range of services in Saudi Arabia for natural gas treatment, as well as CO₂ capture, including:

• Process technologies.
• Studies.
• Procurement.
• Construction.
• Commissioning.
• Start up.
• Operation and maintenance for field gas separation.
• Oil desalting.
• Gas treatment facilities, including gas dehydration, gas sweetening, NGL recovery, sulfur recovery and modular units.

Saudi Arabia has proven natural gas reserves estimated at 258 trillion ft³. This makes the country the fourth largest in the world behind Russia, Iran and Qatar, according to the Oil and Gas Journal.

The move comes as the country seeks to ensure that its natural gas output meets rising demand in sectors such as power generation and water desalination. Furthermore, natural gas resources are perceived as critical for the growth of the petrochemical sector.

Khalid Al Shoaibi, Shoaibi Group Director and appointed PNSA Chairman, said: ‘We are glad to enter into this joint venture with Prosernat. Natural Gas production is on the rise in Saudi Arabia and is expected to increase by 40% in the next four years to 4.5 billion ft³/d by 2014. Adding advanced natural gas solutions to our portfolio is essential and we saw Prosernat as an excellent choice to introduce to the market.’

Read the article online at: https://www.hydrocarbonengineering.com/gas-processing/13042011/saudi_and_french_companies_enter_into_joint_natural_gas_venture/