NewBase 29 January 2024 Energy News issue - 1703 by Khaled Al Awadi_compres...
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.
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:
•
!#$
19. ExxonMobil is offering the opportunity to acquire its entire 100% shareholding in XTO Netherlands
(XTO NL)
The assets, all GDF operated, comprise:
• -
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').
34. -
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= #
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• 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.
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:
• ! #
$ $
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
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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