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7.

Condensate Feasibility Study

The feasibility study for the utilization of the Wafa and Bouri fields condensates and liquified petroleum gas cuts will include the following : 1. Review and analysis of the available data of the two cuts of condensate and of propane and butane products. The aim will be to investigate potential processing, fractionation or treatment needs in order to the products be suitable for gasoline and LPG production. Specification of the process units required and their relevant capacities to perform the duty concluded in the previous paragraph. Preparation of the process flow diagrams for the recommended process units as well as their overall material balance. Performing the above analysis the new interim products will be blended with the Phase I revamped existing refinery interim products to assess the capability of absorbing the new interim products into the existing refinery slate (after Phase I revamp). The gasoline produced will meet year 2005 specifications whereas LPG will meet present specifications. For any unabsorbed new blendstocks as well as for the heavy cut of condensate (which cannot be absorbed in the gasoline pool) an outlet will be envisaged with a corresponding expected sales value. Proposed layout of the new process units and utility units will be prepared considering the available free areas of the Refinery per each type of facilities (process units and utility units). Capital cost estimate will be performed with an accuracy of 30% per each process unit and for the utility units as a whole. A gross payout period calculation will be performed based on the concluded costs in the previous paragraph as well as based on the prices allocated for feeds and products of this scheme. In addition a sensitivity analysis will be performed to assess the effect on the calculated gross payout of plus/minus variations in the capital costs, feed costs and product values. All the work performed will be included in an interim report which will be issued to ARC for review and approval. Any comments raised by ARC will be incorporated and a final report will be issued.

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