Hemla Vantage

Energy
Norway

In 2017 the U.S. state of Mississippi listed Hemla Vantage on its Iran restricted companies list rendering Hemla Vantage ineligible for investment and/or state contracting.

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“NIOC plans to sign a deal with Norway’s Hemla Vantage next week, based on which the European firm will construct an FLNG unit with a production capacity of 500,000 tons per year,” Ali Kardor was also quoted as saying by ILNA." (October 2017).

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A Norwegian oil and gas company is closing in on a $600m contract with an Iranian petrochemical group for one of the first major gas deals since international sanctions were lifted. The contract will be a joint venture between Hemla Vantage and the Kharg Petrochemical Company, a quasi-privately-owned company, to produce and export liquefied natural gas and liquefied petroleum gas by 2017. (May 31, 2016).

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Iranian IIC (Iranian Investment Company), through its Oman based sister company MENE (Middle East New Energy), with Mr. S.A.N.S. Khamoushi as its chairman, has signed an agreement with Norwegian Hemla to expand their trading operations. (April 15, 2016).

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Hemla and Tamin Petroleum & Petrochemical Investment Company (Tappico) (www.tappico.com), one of the leading oil, gas and petrochemical companies in Iran, signed a Memorandum of Understanding in Oslo on the 18th of February 2016. (February 18, 2016).

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“A Norwegian oil and gas company is closing in on a $600m contract with an Iranian petrochemical group for one of the first major gas deals since international sanctions were lifted. The contract will be a joint venture between Hemla Vantage and the Kharg Petrochemical Company, a quasi-privately-owned company, to produce and export liquefied national gas and liquefied petroleum gas by 2017. 'Hemla will secure debt financing and will be 50/50 equity partners with KPC/KGRC [the latter is a sister company of the former],' said Gerhard Ludvigsen, a founding member of Hemla group and director of Hemla Vantage... 'We are inspired that Iran really wants to shift from a traditional player to a modern player. Nobody would believe that Iran could be the first in the world to produce LNG from a floating production vessel (FLNG) in 2017,' he added. The joint venture will purchase 200 million standard cubic feet of flared gas from offshore oilfields near Kharg Island over a period of up to 15 years. In its first phase, the site is projected to produce 500 metric tons of LNG and 200 tons of LPG per year. The FLNG barge, produced in China and ready to be shipped to reach Kharg Island by October, will be leased from Exmar, a Belgian company.” (Financial Times, “Norway’s Hemla Vantage closes in on $600m Iran gas joint venture,” 5/31/2016)