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Gold/Mining/Energy : ARAKIS: HIGH RISK OIL PLAY (AKSEF) -- Ignore unavailable to you. Want to Upgrade?

To: Jim Lamb who wrote (7834)	2/22/1998 2:54:00 PM
From: Jim Lamb	Respond to of 9164

Full story Sudan signs $600 mln oil pipeline contract 11:09 a.m. Feb 22, 1998 Eastern KHARTOUM, Sudan (Reuters) - Sudan has signed a $600 million agreement with four international companies to build a 1,000-mile pipeline that will carry oil to the country's Red Sea port, government radio reported Sunday. It reported that British, Chinese and Argentine firms will supply equipment and lay the 1,000-mile pipeline from the Heglig oil field in western Sudan to the country's main outlet, Port Sudan. It quoted Energy and Mining Minister Awad Ahmed Al-Jaz as saying the contract was worth $600 million. The radio said China's National Petroleum Corp. would supply and lay the pipeline and Argentine company Technit would provide telecommunications. Two British companies will provide power generators. Sudan's oil output is targeted to reach over 150,000 barrels per day (bpd) in two years from around less than 20,000 bpd. Sudan is also building two more refineries for a total of five. In November, Sudan signed a deal with German and Chinese companies to provide equipment for a pipeline to supply oil from the Heglig and Unity fields. It was not immediately clear if the Heglig contract was part of that project or had replaced it. Copyright 1998 Reuters Limited. All rights reserved. Republication and redistribution of Reuters content is expressly prohibited without the prior written consent of Reuters. Reuters shall not be liable for any errors or delays in the content, or for any actions taken in reliance thereon.