Arab Today, arab today daleel petroleum saves 15m
Last Updated : GMT 10:54:55
Arab Today, arab today
Arab Today, arab today

Daleel Petroleum saves $15m

Arab Today, arab today

Arab Today, arab today Daleel Petroleum saves $15m

Muscat - Arabstoday

Gas flaring is a crucial topic of discussion for countries in the Middle East, however companies such as Daleel Petroleum Company in Oman, have invested significantly to reduce the overall costs of flaring and notably benefit from this almost wasted resource. Gong Changli, chief executive of Daleel Petroleum recently participated in an interview with The Energy Exchange discussing the issue of gas flaring in the region. Approximately 150 billion cubic meters (bcm) of gas is flared or wasted every year out of which, the Middle East and North Africa account for 50 bcm reports the Global Gas Flaring Reduction Partnership (GGFR). According to Changli, the strategic reasons why companies reduce flaring is to protect the environment, enhance a company\'s reputation among the local and business communities of the country, and to gain profits, as proper gas management in the oil and gas sector can increase profits significantly. Daleel Petroleum Company successfully managed to reduce gas flaring by investing in two projects: the gas plant to produce Liquefied Petroleum Gas (LPG) and Natural Liquid Gas (NLG). Changli, said: \"With an initial investment of about $22 million and an annual Opex of about $8.5 million, the company recovers about $15-“20 million per year worth of hydrocarbon liquids (NGL & LPG), and saves about $15 million of diesel fuel, which is expected to double in the coming two years.- Other companies in the GCC have also shown a significant decrease in gas flaring. Abu Dhabi Marine Operating Company has unveiled that gas flaring at Zakum oilfields has been reduced to zero, and Kuwait Oil Company is currently flaring about 1.5 per cent of its gas production. Times Of Oman

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