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NewBase 26 August 2014 Khaled Al Awadi 
 
 
 
 
 
 
NewBase For discussion or further details on the news below you may contact us on +971504822502 , Dubai , UAE 
UAE : Specialized Services LLC awarded Petrofac contract 
Published via SyndiGate.info + NewBase 
Dubai-based Specialist Services has won a contract from Petrofac, a leading international service 
provider to the oil and gas industry, to provide local equipment rooms (LER) and local control 
rooms (LCR) buildings for the its Upper Zakum 750 Island Surface Facilities Project (EPC 2). 
A global supplier of modular buildings and packaging solutions for the oil and gas and utility 
industries, the Specialist Services said the project win follows a previous award for the same 
development by Leighton Offshore for the islands harbour house buildings. 
The scope of work includes detailed design, engineering, fabrication, commissioning and load-out 
of the 12 modules with total built-up weight of 8,170 tons, said the Dubai company in a statement. 
All buildings will be fabricated and loaded out from Specialist Services waterfront facility in 
Mussafah, Abu Dhabi, the company added. 
Petrofac Emirates' operation in Abu Dhabi, in consortium with Daewoo Shipbuilding  Marine 
Engineering, has a contract for engineering, procurement, construction, transportation and 
commissioning of island surface facilities on four artificial islands with the Zakum Development 
Company (ZADCO) for their UZ 750 field development project in Abu Dhabi, it said. 
Petrofac said it has subcontracted to Specialist Services the provision of LERs and LCRs. All 
buildings will be installed on the Abu Dhabi ZADCO Upper Zakum Offshore Field located 84 km 
from Abu Dhabi. 
Chris Ridley, the group sales and marketing director at Specialist Services Group said: “This is a 
very large and demanding project that we are proud to have been selected to execute. Our unique 
capabilities in terms of our in house engineering, strong project management, in house fabrication 
and ideally located waterfront facilities ensured we were viewed by Petrofac as the ideal partner to 
complete this complex project.”
The Specialist Services scope includes structural, architectural, electrical, HVAC and fire  gas 
works, as well as the installation of all client free issue electrical and control equipment including 
interconnection and FAT in Specialist Services facility. A dedicated project management team has 
been appointed for the execution of the project. 
Adnoc completes first high pressure high temperature offshore 
Gulf News + NewBase 
The Abu Dhabi National Oil Company (Adnoc) on Monday said it has completed drilling the first 
High Pressure High Temperature (HPHT) well off the Abu Dhabi coast. 
An offshore rig from ADNOC associated company National Drilling Company (NDC) was used for 
the drilling of the well while fellow Adnoc-associated company, the Abu Dhabi Marine Operating 
Company (Adma-Opco), was also involved. Drilling reached a depth of 17,000 feet (5.18km) and a 
temperature of 180 degrees Celsius.
Aramco plans to invest $40b yearly in a decade
Saudi Aramco, the world’s biggest oil producer, plans to invest $40 billion a year over the 
next decade to keep oil production capacity steady and double gas production, Chief 
Executive Khalid Al-Falih said on Monday. 
Aramco sees more capital going into offshore projects and expects rising costs across the 
oil sector to underpin oil prices, Al-Falih told a conference. Oil prices fell to a 14-month low 
of $101.07 last week as global demand growth weakens, even as production ramp ups in 
several places create a glut of oil. 
“To meet forecast demand growth and offset (global output) decline, our industry will need 
to add close to 40 million barrels per day of new capacity in the next two decades,” Al- 
Falih said. 
“Although our investments will span the value chain, the bulk will be in upstream, and 
increasingly from offshore, with the aim of maintaining our maximum sustained oil 
production capacity at twelve million barrels per day, while also doubling our gas 
production.” 
Al-Falih said the Organization of the Petroleum Exporting Countries or the International 
Energy Agency should not try to control oil prices but fundamental problems within the 
industry, like rising costs, increasing technical challenges and the falling size of finds 
would support the price. 
“I share ... the belief that this is a market driven business, it’s not OPEC, the IEA, and 
consumers that should be in the business of trying to control the market,” Al-Falih said. 
“OPEC will take the price as it comes.”“To tap these increasingly expensive oil resources, 
oil prices will need to be healthy enough to attract needed investments ... (and) long-term 
prices will be underpinned by more expensive marginal barrels.”
Written by Oman Observer in Business 
While international crude oil prices dropped below the $100 a barrel-mark this week, data released 
simultaneously showed prices in the $3 trillion global petrochemicals market rose for a second 
consecutive month. 
As per Platts Global Petrochemical Index (PGPI), a top research and information source on the industry, 
global petrochemicals prices rose over 4 per cent in July to $1,446 per metric tonne (mt) following a 2 
per cent monthly advance in June. Prices declined in each of the four months prior to June. The PGPI is 
a benchmark basket of seven widely used petrochemicals published by Platts. On a year-on-year basis, 
the petrochemical prices were up 10 per cent over July 2013. 
While crude oil and naphtha prices were down 5 per cent and 2 per cent respectively in July, production 
issues for some products like olefins put upward pressure on prices. “While prices of some products 
dropped in line with the lower input costs by late July, it didn’t really show in the full monthly 
average,” said Jim Foster, Platts editorial director of petrochemical analytics. 
Petrochemicals are used to manufacture plastic, rubber, nylon and other consumer products and are 
utilised in manufacturing, construction, pharmaceuticals, aviation, electronics and nearly every 
commercial industry. — IANS 
Prices of olefins were higher in July, the report said. Ethylene prices climbed 6 percent to $1,405 per 
mt, up from $1,320 per mt in June, pushed up by delayed production start-ups and multiple sales 
controls implemented by various producers. As ethylene prices rose, so did polyethylene, a plastic made 
from ethylene. 
Both propylene and polypropylene, a plastic produced from propylene prices also rose last month by 2 
percent. Prices of aromatics – a group of scented hydrocarbons with benzene rings used to make a 
variety of petrochemicals – also strengthened in July
Press Release 
The Council of Ministers of Cyprus has given the green light to a specialized team to start 
negotiations with Eni-KOGAS consortium and Total of France with the aim to reach agreements on 
LNG developments. 
Eni-Kogas consortium has signed a 
contract for hydrocarbons exploration in 
blocks 2, 3 and 9 within Cyprus’ 
Exclusive Economic Zone while 
Total signed a contract for hydrocarbons 
exploration in blocks 10 and 11. 
Negotiations are directed at reaching an 
agreement regarding the construction and 
operation of a Liquefied Natural Gas 
(LNG) terminal in Vasiliko, said the 
Ministry of Commerce, Industry and 
Tourism in a statement. The LNG plant to 
be built in Vasilikos will initially process 
not only its own gas, but also the supplies 
from Israel and potentially Lebanon.
Source: Reuters + NewBase 
Norwegian energy firm Statoil will only slightly raise its U.S. shale oil and gas output in the near term due 
to spending curbs, well below a potential for a 50 percent surge, the firm said on Monday. Statoil, which 
produces around a tenth of its oil and gas from its U.S. shale operations in the Bakken, Eagle Ford and 
Marcellus formations, has even cut back investments in the area, as shale projects are competing for capital 
within the company, said Torstein Hole, Statoil's chief for U.S. onshore activities. 
Statoil abandoned its 2020 production target earlier this year and cut its capital spending budget, arguing 
that it needs to save cash and return more to shareholders after a decade of ramping up spending. The firm 
increased shale production to around 210,000 barrels of oil equivalent per day by the middle of 2014 from 
close to nothing in 2010, but output leveled off in the second quarter. 
When asked if output would stay broadly unchanged for the 
rest of the year, Hole said during an oil and gas conference in 
Stavanger, west Norway: 'I expect it (U.S. shale production) 
to be approximately the same. It will increase somewhat, but it 
will not be a significant increase. It (growth rate) will not be 
back to the levels we've seen in the past. We could easily, 
with the portfolio we have now, increase it to 300,000 per day. 
But we have the priority toward profitability. We have to 
compete for capital within the company and the pace of 
development will depend on how successful we are in 
delivering high profitability,' Hole said. 
Statoil earlier targeted daily production of 500,000 barrels per 
day from U.S. operations by 2020, including 300,000 barrels 
per day from shale, but also gave up that target when it revised broader projections.
UK/NL: ExxonMobil divesting its interest in the UK SNS Wingate 
field and its entire shareholding in XTO Netherlands. Source: Schlumberger 
ExxonMobil is offering the opportunity to acquire its entire 100% shareholding in XTO Netherlands (XTO 
NL), and XTO UK is offering the opportunity to acquire its 15.5% interest in the UK SNS Wingate field and 
surrounding acreage. The XTO NL portfolio comprises producing assets and a 10.08403% shareholding in 
Noordgastransport B.V. (NGT). 
A competitive tendering 
process will be held 
seeking cash bids by 17th 
October 2014. ExxonMobil 
will provide an Online Data 
Room (ODR) opening 1st 
September 2014. 
Schlumberger will host 
online services. Access to 
the ODR will only be 
available to selected parties 
who have executed 
Confidentiality Agreements 
(CA) and, where 
applicable, a pre-qualification 
questionnaire. 
Separate data rooms, each 
requiring a CA, will be 
available for the three 
elements comprising the 
portfolio. Wingate Field; 
XTO NL producing assets; 
XTO NL shareholding in 
NGT. Offers are invited for 
the entire portfolio or any combination of the three elements. All offers will be duly considered. 
UK Southern North Sea Wingate Field acquisition opportunity 
XTO UK, a 100% subsidiary of ExxonMobil is offering the opportunity to acquire its 15.5% interest in the 
Wintershall-operated Wingate field, associated infrastructure and surrounding acreage. 
The assets comprise: 
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New base special 26 august 2014

  • 1. NewBase 26 August 2014 Khaled Al Awadi NewBase For discussion or further details on the news below you may contact us on +971504822502 , Dubai , UAE UAE : Specialized Services LLC awarded Petrofac contract Published via SyndiGate.info + NewBase Dubai-based Specialist Services has won a contract from Petrofac, a leading international service provider to the oil and gas industry, to provide local equipment rooms (LER) and local control rooms (LCR) buildings for the its Upper Zakum 750 Island Surface Facilities Project (EPC 2). A global supplier of modular buildings and packaging solutions for the oil and gas and utility industries, the Specialist Services said the project win follows a previous award for the same development by Leighton Offshore for the islands harbour house buildings. The scope of work includes detailed design, engineering, fabrication, commissioning and load-out of the 12 modules with total built-up weight of 8,170 tons, said the Dubai company in a statement. All buildings will be fabricated and loaded out from Specialist Services waterfront facility in Mussafah, Abu Dhabi, the company added. Petrofac Emirates' operation in Abu Dhabi, in consortium with Daewoo Shipbuilding Marine Engineering, has a contract for engineering, procurement, construction, transportation and commissioning of island surface facilities on four artificial islands with the Zakum Development Company (ZADCO) for their UZ 750 field development project in Abu Dhabi, it said. Petrofac said it has subcontracted to Specialist Services the provision of LERs and LCRs. All buildings will be installed on the Abu Dhabi ZADCO Upper Zakum Offshore Field located 84 km from Abu Dhabi. Chris Ridley, the group sales and marketing director at Specialist Services Group said: “This is a very large and demanding project that we are proud to have been selected to execute. Our unique capabilities in terms of our in house engineering, strong project management, in house fabrication and ideally located waterfront facilities ensured we were viewed by Petrofac as the ideal partner to complete this complex project.”
  • 2. The Specialist Services scope includes structural, architectural, electrical, HVAC and fire gas works, as well as the installation of all client free issue electrical and control equipment including interconnection and FAT in Specialist Services facility. A dedicated project management team has been appointed for the execution of the project. Adnoc completes first high pressure high temperature offshore Gulf News + NewBase The Abu Dhabi National Oil Company (Adnoc) on Monday said it has completed drilling the first High Pressure High Temperature (HPHT) well off the Abu Dhabi coast. An offshore rig from ADNOC associated company National Drilling Company (NDC) was used for the drilling of the well while fellow Adnoc-associated company, the Abu Dhabi Marine Operating Company (Adma-Opco), was also involved. Drilling reached a depth of 17,000 feet (5.18km) and a temperature of 180 degrees Celsius.
  • 3. Aramco plans to invest $40b yearly in a decade
  • 4. Saudi Aramco, the world’s biggest oil producer, plans to invest $40 billion a year over the next decade to keep oil production capacity steady and double gas production, Chief Executive Khalid Al-Falih said on Monday. Aramco sees more capital going into offshore projects and expects rising costs across the oil sector to underpin oil prices, Al-Falih told a conference. Oil prices fell to a 14-month low of $101.07 last week as global demand growth weakens, even as production ramp ups in several places create a glut of oil. “To meet forecast demand growth and offset (global output) decline, our industry will need to add close to 40 million barrels per day of new capacity in the next two decades,” Al- Falih said. “Although our investments will span the value chain, the bulk will be in upstream, and increasingly from offshore, with the aim of maintaining our maximum sustained oil production capacity at twelve million barrels per day, while also doubling our gas production.” Al-Falih said the Organization of the Petroleum Exporting Countries or the International Energy Agency should not try to control oil prices but fundamental problems within the industry, like rising costs, increasing technical challenges and the falling size of finds would support the price. “I share ... the belief that this is a market driven business, it’s not OPEC, the IEA, and consumers that should be in the business of trying to control the market,” Al-Falih said. “OPEC will take the price as it comes.”“To tap these increasingly expensive oil resources, oil prices will need to be healthy enough to attract needed investments ... (and) long-term prices will be underpinned by more expensive marginal barrels.”
  • 5. Written by Oman Observer in Business While international crude oil prices dropped below the $100 a barrel-mark this week, data released simultaneously showed prices in the $3 trillion global petrochemicals market rose for a second consecutive month. As per Platts Global Petrochemical Index (PGPI), a top research and information source on the industry, global petrochemicals prices rose over 4 per cent in July to $1,446 per metric tonne (mt) following a 2 per cent monthly advance in June. Prices declined in each of the four months prior to June. The PGPI is a benchmark basket of seven widely used petrochemicals published by Platts. On a year-on-year basis, the petrochemical prices were up 10 per cent over July 2013. While crude oil and naphtha prices were down 5 per cent and 2 per cent respectively in July, production issues for some products like olefins put upward pressure on prices. “While prices of some products dropped in line with the lower input costs by late July, it didn’t really show in the full monthly average,” said Jim Foster, Platts editorial director of petrochemical analytics. Petrochemicals are used to manufacture plastic, rubber, nylon and other consumer products and are utilised in manufacturing, construction, pharmaceuticals, aviation, electronics and nearly every commercial industry. — IANS Prices of olefins were higher in July, the report said. Ethylene prices climbed 6 percent to $1,405 per mt, up from $1,320 per mt in June, pushed up by delayed production start-ups and multiple sales controls implemented by various producers. As ethylene prices rose, so did polyethylene, a plastic made from ethylene. Both propylene and polypropylene, a plastic produced from propylene prices also rose last month by 2 percent. Prices of aromatics – a group of scented hydrocarbons with benzene rings used to make a variety of petrochemicals – also strengthened in July
  • 6. Press Release The Council of Ministers of Cyprus has given the green light to a specialized team to start negotiations with Eni-KOGAS consortium and Total of France with the aim to reach agreements on LNG developments. Eni-Kogas consortium has signed a contract for hydrocarbons exploration in blocks 2, 3 and 9 within Cyprus’ Exclusive Economic Zone while Total signed a contract for hydrocarbons exploration in blocks 10 and 11. Negotiations are directed at reaching an agreement regarding the construction and operation of a Liquefied Natural Gas (LNG) terminal in Vasiliko, said the Ministry of Commerce, Industry and Tourism in a statement. The LNG plant to be built in Vasilikos will initially process not only its own gas, but also the supplies from Israel and potentially Lebanon.
  • 7. Source: Reuters + NewBase Norwegian energy firm Statoil will only slightly raise its U.S. shale oil and gas output in the near term due to spending curbs, well below a potential for a 50 percent surge, the firm said on Monday. Statoil, which produces around a tenth of its oil and gas from its U.S. shale operations in the Bakken, Eagle Ford and Marcellus formations, has even cut back investments in the area, as shale projects are competing for capital within the company, said Torstein Hole, Statoil's chief for U.S. onshore activities. Statoil abandoned its 2020 production target earlier this year and cut its capital spending budget, arguing that it needs to save cash and return more to shareholders after a decade of ramping up spending. The firm increased shale production to around 210,000 barrels of oil equivalent per day by the middle of 2014 from close to nothing in 2010, but output leveled off in the second quarter. When asked if output would stay broadly unchanged for the rest of the year, Hole said during an oil and gas conference in Stavanger, west Norway: 'I expect it (U.S. shale production) to be approximately the same. It will increase somewhat, but it will not be a significant increase. It (growth rate) will not be back to the levels we've seen in the past. We could easily, with the portfolio we have now, increase it to 300,000 per day. But we have the priority toward profitability. We have to compete for capital within the company and the pace of development will depend on how successful we are in delivering high profitability,' Hole said. Statoil earlier targeted daily production of 500,000 barrels per day from U.S. operations by 2020, including 300,000 barrels per day from shale, but also gave up that target when it revised broader projections.
  • 8. UK/NL: ExxonMobil divesting its interest in the UK SNS Wingate field and its entire shareholding in XTO Netherlands. Source: Schlumberger ExxonMobil is offering the opportunity to acquire its entire 100% shareholding in XTO Netherlands (XTO NL), and XTO UK is offering the opportunity to acquire its 15.5% interest in the UK SNS Wingate field and surrounding acreage. The XTO NL portfolio comprises producing assets and a 10.08403% shareholding in Noordgastransport B.V. (NGT). A competitive tendering process will be held seeking cash bids by 17th October 2014. ExxonMobil will provide an Online Data Room (ODR) opening 1st September 2014. Schlumberger will host online services. Access to the ODR will only be available to selected parties who have executed Confidentiality Agreements (CA) and, where applicable, a pre-qualification questionnaire. Separate data rooms, each requiring a CA, will be available for the three elements comprising the portfolio. Wingate Field; XTO NL producing assets; XTO NL shareholding in NGT. Offers are invited for the entire portfolio or any combination of the three elements. All offers will be duly considered. UK Southern North Sea Wingate Field acquisition opportunity XTO UK, a 100% subsidiary of ExxonMobil is offering the opportunity to acquire its 15.5% interest in the Wintershall-operated Wingate field, associated infrastructure and surrounding acreage. The assets comprise: • !#$
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  • 19. ExxonMobil is offering the opportunity to acquire its entire 100% shareholding in XTO Netherlands (XTO NL) The assets, all GDF operated, comprise: • -
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  • 30. The assets are being offered via Schlumberger. Click here for link For information on similar opportunities, see the energy-pedia opportunities database, which contains details of over 1500 upstream opportunities worldwide.
  • 31. France: Petromanas Energy announces Gas in Place estimates for Saucède Prospect in France . Source: Petromanas Energy Petromanas Energy has announced that an independent evaluation of the Undiscovered Petroleum Initially In Place ('UPIIP') has been prepared by Calgary based GLJ Petroleum Consultants for the Saucède Prospect on the Ledeuix Permit located in the Aquitaine Basin of Southern France. The Report performed an evaluation of four stacked formation targets on the Saucède Prospect and was predicated on work Petromanas did re-processing and interpreting existing 2D seismic on the Ledeuix Permit, as well as data from the Saucède-1 well which was drilled and produced by a third party in the late 1970s and early 1980s. The Company's remaining prospects on the Ledeuix Permit require further data and/or technical evaluation. The Report is dated August 18, 2014 with an effective date of June 30, 2014. GLJ's total UPIIP assessment for the prospect is shown below. Gross Lease Unrisked Gas Initially In Place (BCF) 'The Report highlights the increased potential of the Saucède Prospect, one of several prospects on the Ledeuix Permit, which is in a historically productive region of a country with a marked supply/demand imbalance, favourable fiscal terms, and extensive infrastructure,' said Mr. Glenn McNamara, CEO of Petromanas. 'Next steps include initiating a marketing process to assess the joint venture potential for this asset and the finalization and permitting of a well location that will allow us to test the identified deep, naturally fractured carbonate structures.' The Pg (probability of finding gas) is 100% as provided in the GLJ report. Flow rates and commerciality need to be proven with the drilling of a well. Internal economic modelling has been done and is encouraging, using the Gas in Place volumes above, a 75% recovery factor, current fiscal terms, European gas price forecasts and expected capital and operating costs. When the Ledeiux and Ger Permits expired in 2013, Petromanas requested renewal for a period of five years for both permits from the French government. The permits are progressing satisfactorily through the normal renewal process and are awaiting signature of the Energy Minister. Consistent with its growth strategy, the Company is working with Macquarie Capital Markets Canada Ltd. to finalize data room preparations and a marketing initiative to support discussions with potential joint venture partners for its French assets. Petromanas has a 100% working interest in both the Ledeuix and Ger Permits. The GLJ UPIIP assessments were prepared in accordance with the definitions, standards and procedures contained in the Canadian Oil and Gas Evaluation Handbook (the 'COGE Handbook') and National Instrument 51-101 'Standards of Disclosure for Oil and Gas Activities' ('NI 51-101').
  • 32. 3A 2
  • 33. 5
  • 34. - B = # 0 • Oil represents approximately one-third of France's total primary energy consumption and that share has been falling over the past 10 years. France imports crude oil through three major sea ports (Marseille, Le Havre, and Saint- Nazaire) and the South European Pipeline System (SPSE) to Germany. Four main product pipelines, especially the LHP line supplying Paris, and seven sea ports (including those that take in crude oil) supply France with refined petroleum products. • According to the Oil Gas Journal, France has a crude refining capacity of around 1.5 million barrels per day, the fifth highest in Europe and Eurasia after Russia, Germany, Italy, and the United Kingdom. France's crude refining capacity decreased over the past few years from nearly 2.0 million bbl/d in 2010, as a result of refinery closures driven by poor margins, cheaper imports, and falling demand. • The main French oil company is Total, one of the largest publicly owned oil and gas companies in the world. Total operates five of the country's nine crude oil refineries and manages more than half of the country's crude oil refining capacity. • France has very little domestic natural gas production, and the French government banned the use of hydraulic fracturing, a drilling technique used to extract shale oil and gas resources. French authorities project natural gas demand to remain stable or fall slightly through 2020. France imports natural gas through a variety of cross-border pipelines from the Netherlands, Norway, and Russia. France also imports liquefied natural gas (LNG) from countries around the world, notably Algeria , Nigeria, Qatar, and Egypt. The power and industrial sectors have growing gas demand, while residential sector gas demand is starting to decrease, mostly because of efficiency gains, according to the International Energy Agency. • The country's main source of electricity generation is nuclear power, and France is second to the United States in terms of operable nuclear capacity. Nuclear generation in 2012 was slightly more than 407 terawatthours, or about 83% of the country's total generation. France was the world's third-largest exporter of electricity in 2012 behind Germany and Canada, and France is also an exporter of nuclear reactor technology. • France has a closed fuel cycle, which reprocesses used nuclear fuel to reduce the volume of waste requiring disposal and to create new mixed oxide fuel for its nuclear power plants. The 2006 Nuclear Materials and Waste Management Program Act declared deep geological disposal as the national approach to waste disposal. The National Radioactive Waste Management Agency (ANDRA) expects to start licensing its deep geologic repository at Bure in 2015 and begin disposal operations in 2025. • France also produces a significant amount of energy from renewable resources. France is the second-largest producer of biofuels in Europe, after Germany, and the country produces mostly biodiesel for the transportation sector.
  • 35. Energy reform could increase Mexico’s long-term oil production 75%
  • 36. On August 11, Mexico's president signed into law legislation that will open its oil and natural gas markets to foreign direct investment, effectively ending the 75-year-old monopoly of state-owned Petróleos Mexicanos (Pemex). These laws, which follow previously adopted changes in Mexico's constitution to eliminate provisions that prohibited direct foreign investment in that nation's oil and natural gas sector, are likely to have major implications for the future of Mexico's oil production profile. As a result of the developments in Mexico over the past year, EIA has revised its expectations for long-term growth in Mexico's oil production. Although there are many complexities to the new reform and many details that still must be settled before the reforms can take effect, reform is expected to improve the long-term outlook for growth in Mexico's petroleum and other liquids production. Analysis in EIA's upcoming International Energy Outlook 2014 (IEO2014) will include the potential effects on upstream oil exploration and production and the potential for foreign participation. The changes in EIA's assessment of Mexico's liquids production profile are profound. Last year's International Energy Outlook projected that Mexico's production would continue to decline from 3.0 million barrels per day (MMbbl/d) in 2010 to 1.8 MMbbl/d in 2025 and then struggle to remain in the range of 2.0 to 2.1 MMbbl/d through 2040. The forthcoming Outlook, which assumes some success in implementing the new reforms, projects that Mexico's production could stabilize at 2.9 MMbbl/d through 2020 and then rise to 3.7 MMbbl/d by 2040—about 75% higher than in last year's outlook. Actual performance could still differ significantly from these projections because of the future success of reforms, resource and technology developments, and world oil market prices. Since 2008, the contract structure for any private company partnering with Pemex was a performance-based service contract, which offered financial incentives to private contractors working in Mexico's upstream sector. Incentives were provided in some cases, such as when a project is completed ahead of schedule, when Pemex benefits from the use of new technology provided by the contractor, or when the contractor is more successful than originally expected. These contracts also include penalties for environmental negligence or failure to meet contractual obligations.
  • 37. Mexico's legislation introduced three new contract types that will provide more opportunity for foreign investment in its energy sector: • ! # $ $
  • 38. $
  • 41. 5
  • 42. C The production-sharing contracts and licenses will effectively allow foreign companies to account for reserves, which is a particularly attractive incentive for investment in Mexico's energy sector. Different contract types will likely be applied according to the degree of risk associated with specific projects. For instance, licenses will likely be used for projects that are very capital intensive and high-risk, requiring advanced technology, like oil shale or ultra-deepwater projects. Less risky onshore and shallow offshore projects would more likely use profit-sharing arrangements.
  • 43. The 10th Gas Arabia Summit 13-15 January – Dubai http://www.theenergyexchange.co.uk/event/gas-arabia-summit The 10th Gas Arabia Summit comes at a crucial juncture for GCC countries. The Gulf’s status quo is has dramatically shifted, demand for power generation from industrial sectors has far outpaced the region’s gas exploration and production. As GASA celebrates its 10th year we’re excited to welcome you to Dubai to not only reflect on the region’s gas developments over the last 10 years but more importantly to discuss the regions prospects and priorities for the next 10 years. Population growth, industrial expansion and demand for power has had a dramatic impact on the Middle East gas industry with many countries turning to imports to keep pace. The region is focusing on exploring sustainable energy solutions and advancing gas production, acknowledging that this trend cannot continue.The Gas Arabia Summit has been at the forefront of the gas debate for the past decade, acknowledging achievement, examining solutions to the challenges that have emerged, and the prospects for the next ten years and beyond. The tenth edition will take place from January 13 to 15 next year in Dubai and bring together a new industry advisory board, said a statement. Nikki Mackay, project director, The Energy Exchange, organiser of the summit, said: “According to a 2013 Chatham House report, GCC countries now consume more primary energy than the whole of Africa. The region recognises the risks in the current system and the economic potential from new sectors and is addressing these issues through sustainability initiatives and strategic partnerships. “With the involvement of the advisory board the 10th anniversary of the summit covers the critical issues including a CEO symposium on advancing gas production and sustainability, an economist’s debate on the supply/ demand imbalance, plus sessions addressing gas pricing, technology, innovation, strategic partnerships and a regional project round up”. Two staggered workshops - one that will cover gas flaring and the other unconventional plants - offering the participants the broadest coverage of gas issues in the region, will precede the conference. “We are still inviting contributions from industry leaders who would like to participate in either the technical or strategic discussions at the 10th Gas Arabia Summit,” Mackay added. -
  • 44. NewBase For discussion or further details on the news below you may contact us on +971504822502 , Dubai , UAE Your partner in Energy Services Khaled Malallah Al Awadi, MSc. BSc. Mechanical Engineering (HON), USA ASME member since 1995 Emarat member since 1990 Energy Services Consultants Mobile : +97150-4822502 khalid_malallah@emarat.ae khdmohd@hotmail.com Khaled Al Awadi is a UAE National with KKKhhhaaallleeeddd AAAlll AAAwwwaaadddiii iiisss aaa UUUAAAEEE NNNaaatttiiiooonnnaaalll wwwiiittthhh aaaa ttttoooottttaaaallll ooooffff 22224444 yyyyeeeeaaaarrrrssss ooooffff eeeexxxxppppeeeerrrriiiieeeennnncccceeee iiiinnnn tttthhhheeee OOOOiiiillll GGGGaaaassss sssseeeeccccttttoooorrrr.... CCCCuuuurrrrrrrreeeennnnttttllllyyyy wwwwoooorrrrkkkkiiiinnnngggg aaaassss TTTTeeeecccchhhhnnnniiiiccccaaaallll AAAAffffffffaaaaiiiirrrrssss SSSSppppeeeecccciiiiaaaalllliiiisssstttt ffffoooorrrr EEEEmmmmiiiirrrraaaatttteeeessss GGGGeeeennnneeeerrrraaaallll PPPPeeeettttrrrroooolllleeeeuuuummmm CCCCoooorrrrpppp.... ““““EEEEmmmmaaaarrrraaaatttt““““ wwwwiiiitttthhhh eeeexxxxtttteeeerrrrnnnnaaaallll vvvvoooolllluuuunnnnttttaaaarrrryyyy EEEEnnnneeeerrrrggggyyyy ccccoooonnnnssssuuuullllttttaaaattttiiiioooonnnn ffffoooorrrr tttthhhheeee GGGGCCCCCCCC aaaarrrreeeeaaaa vvvviiiiaaaa HHHHaaaawwwwkkkk EEEEnnnneeeerrrrggggyyyy SSSSeeeerrrrvvvviiiicccceeee aaaassss aaaa UUUUAAAAEEEE ooooppppeeeerrrraaaattttiiiioooonnnnssss bbbbaaaasssseeee ,,,, MMMMoooosssstttt ooooffff tttthhhheeee eeeexxxxppppeeeerrrriiiieeeennnncccceeee wwwweeeerrrreeee ssssppppeeeennnntttt aaaassss tttthhhheeee GGGGaaaassss OOOOppppeeeerrrraaaattttiiiioooonnnnssss MMMMaaaannnnaaaaggggeeeerrrr iiiinnnn EEEEmmmmaaaarrrraaaatttt ,,,, rrrreeeessssppppoooonnnnssssiiiibbbblllleeee ffffoooorrrr EEEEmmmmaaaarrrraaaatttt GGGGaaaassss PPPPiiiippppeeeelllliiiinnnneeee NNNNeeeettttwwwwoooorrrrkkkk FFFFaaaacccciiiilllliiiittttyyyy ggggaaaassss ccccoooommmmpppprrrreeeessssssssoooorrrr ssssttttaaaattttiiiioooonnnnssss .... TTTThhhhrrrroooouuuugggghhhh tttthhhheeee yyyyeeeeaaaarrrrssss ,,,, hhhheeee hhhhaaaassss ddddeeeevvvveeeellllooooppppeeeedddd ggggrrrreeeeaaaatttt eeeexxxxppppeeeerrrriiiieeeennnncccceeeessss iiiinnnn tttthhhheeee ddddeeeessssiiiiggggnnnniiiinnnngggg ccccoooonnnnssssttttrrrruuuuccccttttiiiinnnngggg ooooffff ggggaaaassss ppppiiiippppeeeelllliiiinnnneeeessss,,,, ggggaaaassss mmmmeeeetttteeeerrrriiiinnnngggg rrrreeeegggguuuullllaaaattttiiiinnnngggg ssssttttaaaattttiiiioooonnnnssss aaaannnndddd iiiinnnn tttthhhheeee eeeennnnggggiiiinnnneeeeeeeerrrriiiinnnngggg ooooffff ssssuuuuppppppppllllyyyy rrrroooouuuutttteeeessss.... MMMMaaaannnnyyyy yyyyeeeeaaaarrrrssss wwwweeeerrrreeee ssssppppeeeennnntttt ddddrrrraaaaffffttttiiiinnnngggg,,,, ccccoooommmmppppiiiilllliiiinnnngggg ggggaaaassss ttttrrrraaaannnnssssppppoooorrrrttttaaaattttiiiioooonnnn ,,,, ooooppppeeeerrrraaaattttiiiioooonnnn mmmmaaaaiiiinnnntttteeeennnnaaaannnncccceeee aaaaggggrrrreeeeeeeemmmmeeeennnnttttssss aaaalllloooonnnngggg wwwwiiiitttthhhh mmmmaaaannnnyyyy MMMMOOOOUUUUssss ffffoooorrrr tttthhhheeee llllooooccccaaaallll aaaauuuutttthhhhoooorrrriiiittttiiiieeeessss.... HHHHeeee hhhhaaaassss bbbbeeeeccccoooommmmeeee aaaa rrrreeeeffffeeeerrrreeeennnncccceeee ffffoooorrrr mmmmaaaannnnyyyy ooooffff tttthhhheeee OOOOiiiillll GGGGaaaassss CCCCoooonnnnffffeeeerrrreeeennnncccceeeessss hhhheeeelllldddd iiiinnnn tttthhhheeee UUUUAAAAEEEE aaaannnndddd EEEEnnnneeeerrrrggggyyyy pppprrrrooooggggrrrraaaammmm bbbbrrrrooooaaaaddddccccaaaasssstttteeeedddd iiiinnnntttteeeerrrrnnnnaaaattttiiiioooonnnnaaaallllllllyyyy ,,,, vvvviiiiaaaa GGGGCCCCCCCC lllleeeeaaaaddddiiiinnnngggg ssssaaaatttteeeelllllllliiiitttteeee CCCChhhhaaaannnnnnnneeeellllssss .... NewBase : For discussion or further details on the news above you may contact us on +971504822502 , Dubai , UAE NewBase 26 August 2014 K. Al Awadi