26 June 2013, News Wires – Chinese state-run oil company Sinopec, has started engineering, procurement, construction and commissioning, EPCC, work on the Akondo oilfield in Gabon.
Sinopec said in a statement that it had entered the commercial development stage at the field with exclusive development rights granted by the Gabonese government.
The start of the EPCC work will see Sinopec invest $107 million for the construction of a 200,000 tonnes per annum crude processing plant and 58.6-kilometre pipeline.
Sinopec started exploration work in 2005 on the Akondo oilfield which lies about 45 kilometers north-east of the port city of Gentil.
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