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Contract Awarded for Pipeline to Fujairah

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posted on Apr, 3 2007 @ 12:55 PM
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Contract Awarded for Pipeline to Fujairah


www.portworld.com

Abu Dhabi's government-owned International Petroleum Investment Company (IPIC) has awarded Germany's ILF a contract to build a a 320 kilometres pipeline from the Habshan oil fields to the port of Fujairah, Reuters reported.

The 1.5 million barrels per day (bpd) pipeline will enable the United Arab Emirates (UAE) to send around 55% of its total production to Fujairah, located outside the strategic waterway on the Gulf of Oman.
(visit the link for the full news article)



posted on Apr, 3 2007 @ 12:55 PM
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I'm not very schooled in the oil production deal but thought some may be interested in this news.

In the article it said that bypassing the Hormuz strait would make the oil less expensive due to the high cost of tanker travel through the area, can someone explain that in layman's terms?

www.portworld.com
(visit the link for the full news article)



 
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