Feather Gas Development Funded up to $750M
The National Petroleum Company discussed a project to develop the Risha gas field, with an estimated cost ranging from $550 million to $750 million, aiming to increase gas production and enhance energy security. An agreement has been signed to establish a central gas station with a capacity of up to 50 million cubic feet per day, expected to be operational at the beginning of next year. The company is working on marketing natural gas through the "virtual pipeline" in both compressed and liquefied gas formats, with three companies actively involved and a fourth company prepared to enter the market, resulting in cost savings of between 30% and 50%. The company's current plans were discussed, highlighting the importance of developing the Risha field, securing funding, expanding exploration activities, and streamlining licensing procedures, all aimed at supporting the gas sector and increasing reliance on local resources.
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