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Article Excerpt
Dragados Industrial, Syntroleum Corporation , and TI Capital have announced today the signing of a memorandum of understanding to advance Syntroleum's barge mounted gas-to-liquids project (GTL Barge). The agreement contemplates the formation of a jointly owned company to finance, build, own, and operate GTL Barges worldwide. Syntroleum's previously announced GTL Barge consists of a nominal 19,000 bpd total liquids production plant on an inland barge. It uses the Syntroleum Process, the proprietary air-based GTL technology to convert natural gas into synthetic crude oil and clean fuels. The GTL Barge is designed to develop offshore and near-shore natural gas assets in the 1-3 TCF range where there is currently no infrastructure to economically produce and transport the stranded gas reserves.
(Photo: http://www.newscom.com/cgi-bin/prnh/20040205/DATH014 )
Syntroleum, supported by third party contractors, completed the initial design work and cost estimate for the GTL Barge last year prior to announcing the concept in August of 2003. Dragados Industrial and TI Capital now join Syntroleum to extend the technical work and complete a full feasibility study. The scope of work will include a more detailed cost estimate by Dragados Industrial, an update of the barge layout and constructability analysis, and an updated safety review. The work will involve the Cadiz, Spain-based Dragados Offshore with the support of the engineering units of Dragados Industrial.
In parallel with the technical work, Syntroleum, Dragados Industrial, and TI Capital...
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