Al Hosn Gas is the Shah gas development joint venture by the Abu Dhabi National Oil Company (Adnoc) and U.S.-based Occidental Petroleum.
The company said that the shutdown at the facility in Ras Al Khair would last for around 10 days.
Full operational capacity at the two plants would be achieved in 8-10 days.
The contract was won along with Dhofar International Development and Investment Holding Co.
Saudi Oil Minister Ali al-Naimi asserted on Sunday that the Kingdom will not curb output to prop up prices.
Ali al-Naimi also said that OPEC will not take sole responsibility for propping up the oil price.
Mohammed al-Madi said that the current price drop was because of fundamental supply and demand factors, not any non-economic policies.
The project is expected to provide 2,000 megawatts of solar energy to Egypt.
The Kingdom has been ramping up the number of machines drilling for oil and gas.
Actual oil output from the United States could prove harder to beat back, sources say.
Kuwait’s oil minister said on Thursday that OPEC had no choice but to keep output steady.
Ali al-Omair said the OPEC has to keep output unchanged to sustain marketshare.
Production was steady in January at 9.680 million bpd from 9.630 million bpd in December.
The company has an exclusive licence to carry out a geological survey of the Mediterranee Ouestarea, which comprises 3,433 sqkm.
All oil sales in Libya needed to be routed through a state oil firm based in the east.
The contracts that cover 2015 will see Kuwaiti jet fuel flow through the BP system to Dubai and several European Airports, KPC said.
Oil bears may underestimate the hurdles on the diplomatic path to Iran’s return to world energy markets.
OPEC issued a set of production figures as reported to its Vienna Secretariat by member-countries this week, without any countries missing from the total for the first time in months.
In its monthly report, OPEC left its forecast for 2015 world oil demand growth unchanged.
The firms are looking at developing renewable projects with a capacity of 2 GW in Egypt.
Saudi oil adviser Ibrahim al-Muhanna said he was optimistic about crude oil demand growth, and expected future supply to be “healthy”.
This was ADNOC’s first naphtha spot sale after the expansion of its Ruwais refinery, where capacity has been more than doubled.
In a bourse filing, the company said repairing the fault was expected to be completed within 10 days.
The increase in refinery’s capacity according to the current plan is from 260,000 barrels per day to 360,000, the minister said.
OPEC decided at its last meeting in November to keep production unchanged, rather than cutting it to support sliding oil prices.
Safco will raise its capital from SAR3.33 billion to SAR4.16 billion ($888 million-$1.11 billion), according to a filing on the bourse website.
The company did not disclose the value of the deal or the exact size of the stake it purchased.
Aramco executive said that the $1 trillion figure included projects that might merely be delayed, not just those that could be cancelled outright.
Aramco deployed 210 oil and gas rigs in 2014, an exceptionally busy year, company sources had said.
The zero-fuel airplane is flying from the UAE capital to Oman in the first leg of its journey.