Top 10 billion dollar oil deals of the summer

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It will come as no surprise to most people that the news agenda in the oil and gas industry is currently being dominated by second quarter tales of woe from almost every company publishing its revenues - well everyone except for the credit crunch defying Petrofac. 

However, while the oil and gas industry is proving to be far more robust than almost every other sector it is still not much fun for journalists to write stories that seem to contain the exact same quote from each CEO: "The slump in both price and demand for .... (insert oil/gas/petrochemicals products here) has meant that ..... (insert company here) has experienced a difficult first six months of 2009. 

So with this in mind ArabianOilandGas.com thought that we should give you the billion dollar deals of the summer. We wanted to let everyone know that it is not all doom and gloom out there in oil & gas. The industry is still a hive of activity and there are still  huge deals being struck every week right across every sector of oil, gas and petrochemicals. 

The list is ranked from highest to lowest in terms of dollar value and the only criteria we set for inclusion on the list was that each deal needed to have some connection to the MENA region. 

If you think that another deal should have made the list please feel free to leave a comment.

1. Nassiriya Oilfield (Iraq)
2. Integrated Gas Development Project (UAE)
3. South Pars Gas Field (Iran)
4. Jubail Export Refinery (Saudi Arabia)
5. Tianjin Petrochemicals Complex (China)
6. Touat Gas Field (Algeria)
7. Gassi Touil Gas Field (Algeria)
8. Skikda Refinery Upgrade (Algeria)
9. Sipchem Polyvinyl Plants (Saudi Arabia)
10. Borouge (UAE)

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Nassiriya Oilfield (Iraq)

The Deal: Multiple EPC works
Worth: $10 billion
Awarded to: Nippon Oil Corp consortium (Japan) or Eni (Italy)

The massive US$10 billion EPC contract for the super giant field will be the largest awarded in Iraq since the fall of Saddam Hussein and is set to be awarded within the next few weeks.

Two bidders are left in the race – a consortium led by Japanese oil refiner Nippon Corp  including oil exploration and developer Inpex Corp and the respected engineering contractor JGC Corp as well as the Italian supermajor Eni. The contract includes the construction of  both refining and power-generating facilities.

The Iraq Oil Ministry hopes that Nassiriya will yield 150,000 barrels per day (bpd) within two years rising to 600,000 bpd after that.

Eni has estimated that the field has the potential output of up to 1 million bpd.