More Related Content Similar to New base special 24 february 2014 (20) More from Khaled Al Awadi (20) New base special 24 february 20141. Copyright © 2014 NewBase www.hawkenergy.net Edited by Khaled Al Awadi – Energy Consultant All rights reserved. No part of this publication may be reproduced,
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NewBase 24 February 2014 Khaled Al Awadi
NewBase For discussion or further details on the news below you may contact us on +971504822502 , Dubai , UAE
"Minor" Abu Dhabi oil spill under control say authorities
http://pipelineme.com/news/regional-news/2014/02/minor-abu-dhabi-oil-spill-under-control-say-authorities/
A recent oil spill off Saadiyat Island in Abu Dhabi has been deemed ‘minor’ according to the
Environment Agency Abu Dhabi (EAD) quoted by state news agency WAM on Saturday.
The cause of the incident off the environmentally sensitive area off the coast of the UAE capital is
unknown while the as authorities race to find
investigate. This latest spill brings into focus
an important environmental “issue that affects
marine-resource rich nations accidental oil
spills that can lead to major consequences for
marine life and the eco-system.,” WAM said.
The clean-up operation is purported to have
put “enormous strain” on the time and
resources of the authorities who deployed
skimming vessels and dispersants by
helicopter in order to break up an mop up the
spill.
While major oil spills have not yet occurred in the country, minor incidents such as this one are
quite common. Accidental discharges from oil refineries and oil tankers illegally washing out their
oil storage tanks into international waters have found their way onto the shores of the UAE in the
past. It is said that nearly half of all marine oil pollution originates from land-based sources.
The United Arab Emirates is running
a series of programs to protect
dugongs from extinction, which is
implemented by the Environment
Agency - Abu Dhabi (EAD) and Total
United Arab Emirates. According to a
classification made by the
International Union for Conservation
of Nature, the dugongs are currently
listed as one of the internationally
endangered animals. This program
comes in the framework of joint
cooperation agreement between the
Environment Agency of Abu Dhabi
and Total. See www.ead.ae
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KSA petrochemical exports to reach 100m tons by 2016
http://www.arabnews.com/news/530236
Saudi Arabia has become the country partner of ArabPlast 2015, the largest plastics and
petrochemicals show in the region.
This has led to the signing of a
memorandum of understanding (MoU)
Sunday in Dubai between Al Fajer
Information and Services, the organizer
of ArabPlast 2015 and Saudi Export
Development Authority (SEDA), a
subsidiary of the Saudi Ministry of
Commerce and Industry, with the goal of
boosting the presence of the Saudi
petrochemical industry in the next
edition of the UAE’s premier specialized
event.
Following the signing of the MoU held in Maktoum Hall of Dubai International Convention & Exhibition
Centre (DICEC), SEDA booked a complete hall in the exhibition, which is to be held from Jan. 10-13,
2015. The previous edition of the bi-annual event was spread over nine halls of DICEC and attracted
900 exhibitors from 41 counties.
“We are keen to be part of this successful international trade show. We will help Saudi companies to
further expand their operations through a global platform like ArabPlast 2015,” said Ahmed Alhakbani,
secretary general, SEDA. “We have already confirmed about 7,000 sq.m. of space for companies from
the Kingdom and we thank Al Fajer for their cooperation in formalizing this cooperation.”
Satish Khanna, GM, Al Fajer Information and Services, organizer of ArabPlast, said: “It is a matter of
great pride for Al Fajer and ArabPlast to have the Kingdom as the country partner of the show. Our
collaboration with SEDA will further elevate ArabPlast position on the global front as a major
specialized exhibition, driven by the robustness of the petrochemical industry in the Kingdom.”
“Petrochemical exports in the Kingdom are expected to reach 100 million tons by 2016, a 250 percent
growth over 2006,” Khanna added.
DEAL SIGNING: Al Fajer Information and Services and
Saudi Export Development Authority (SEDA), sign the
memorandum of understanding (MoU) Sunday in Dubai.
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Attractive oil contracts will help lift sanctions
www.zawya.com
Speaking in the Oil Industry Contracts Revision Conference, Zanganeh said, "On the sidelines of
the annual meeting of the World Economic Forum in Davos
(Switzerland), brief talks were held with the US oil companies on
expanding cooperation. However, we did not negotiate the issue
comprehensively." He recalled that foreign companies, including
the US', are interested in resuming cooperation with Iran's oil and
gas industry.
Commenting on the trend of implementing previous oil contracts, the oil minister said the deals
signed in the past, which are still valid, cannot be revoked. Zanganeh noted that new oil contracts
pertain to future projects. Commenting on contractors who did not have a satisfactory
performance, he said, "We will deal with them according to the contracts and with an eye on
safeguarding national interests."
Referring to the warning issued to a Chinese company involved in Iran's oil industry, the minister
said, "The employer issued
the warning more than one
months ago. We should
wait and see if the company
will improve its performance
in 90 days or not." On
Friday, Emad Hosseini,
deputy oil minister for
engineering affairs, said
concurrent with the
breakthrough of the
negotiating team in nuclear
talks, the Oil Ministry is
holding fruitful talks with
major oil companies.
He added that development
of joint fields, particularly South Pars Gas Field in Bushehr province, is among the Oil Ministry's
priorities. Hosseini said the Oil Ministry intends to rebuild confidence in its international relations
with an eye on safeguarding national interests. "Iran's success in being appointed the secretary-
general of Gas Exporting Countries Forum and its giant leap in becoming the head of the
Organization of Petroleum Exporting Countries are indicative of the country's determination to
expand cooperation with international companies," he said.
Hosseini said the meetings of Zanganeh held with officials of major international oil companies on
the sidelines of the Davos meeting and the preparation of new oil contracts, which will be unveiled
in a few days, are indicative of the Oil Ministry's plans to boost international interactions.
Iran Oil Minister Bijan Zanganeh
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Iran Oil Minister Issues Warning to Chinese Contractor
ISNA
Bijan Namdar-Zanganeh, Iranian Minister of Petroleum, on the sidelines of the roundtable held to introduce
revamped oil contracts in Iran, spoke of a warning issued for the Chinese contractor in charge of developing
South Azadegan Oil Field in southern Iran, and said, "The employer of the field's development plan has
warned the Chinese company based on the contract."
Zanganeh also said that Iran will continue cooperation with the foreign contractor in case it changes its
conduct and behavior during the set 90-day deadline. "We have issued warnings to all contractors who drag
foot in developing fields under their management."
The minister also added development in all prioritized phases of South Pars are going forward as planned,
but no schedule can be defined for them. –
In 2009, China National Petroleum Corp (CNPC) signed a memorandum of understanding with
National Iranian Oil Co, promising to pay 90 percent of development costs for the South Azadegan
oil field while taking ownership of a 70 percent stake. An Iranian official said the project needed
investment of up to $2.5 billion.
Iranian authorities claim that the Azadegan field has oil-in-place reserves of about 33.2 billion
barrels (5.28×109
m3
) and recoverable resources estimated at about 5.2 billion barrels
(830×106
m3
). It is one of the NIOC Recent Discoveries and the biggest oil field found in Iran in the
last 30 years.
Sarvak, Kazhdomi, Godvan, and Fahilan are productive layers of the field. The current production
is 40,000 barrels per day (6,400 m3
/d). Crude oil produced by the Fahilan layer is light while the
other layers yield heavy crude.
5. Copyright © 2014 NewBase www.hawkenergy.net Edited by Khaled Al Awadi – Energy Consultant All rights reserved. No part of this publication may be reproduced,
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WETEX sees four-fold rise in exhibitors in 16 years
http://emirates.tpg-media.com/category/news/
The Water, Energy, Technology, and Environment Exhibition (WETEX 2014), which is held under the
directives of HH Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the
UAE and Ruler of Dubai, and under the patronage of HH Sheikh Hamdan bin Rashid Al Maktoum, Deputy
Ruler of Dubai, Minister of Finance of the UAE and President of Dubai Electricity and Water Authority
(DEWA), has registered impressive growth in exhibition space and products showcased. The number of
exhibitors at (WETEX 2014) which will be held from April 14 to 16 at Dubai International Convention and
Exhibition Centre has crossed 1500, a four-fold rise since its launch in 1999, consolidating its position as
one of the world’s major specialised
exhibitions. The exhibition area has
also increased four-fold since 1999,
with a total area of 47,230 sq.m. spread
across 9 halls of the Dubai International
Convention and Exhibition Centre.
WETEX has seen over 56 times
increase in its visitors’ numbers
between 1999 and 2013. The exhibition
is expected to attract 20,000 visitors in
its 2014 edition.
HE Saeed Mohammed Al Tayer,
Managing Director and CEO of DEWA
said: “WETEX has achieved
remarkable growth, as a result of hard
work of the organising committee at all
levels. What is also worth mentioning is the quality additions to the exhibition and the wider number of
sectors represented.”
“We have seen remarkable additions to the exhibitors list, such as the oil and gas sector. We have developed
multiple concepts and proposals centered on the principles of environmental sustainability. We also added
SmarTech Shopper, a first-of-its-kind platform in the region for green products. In addition, we
strengthened our partnerships to promote a culture of sustainability mainly through the Sustainable Building
concept launched on the sidelines of the exhibition in line with many other innovative concepts,” HE Al
Tayer added.
WETEX has significantly contributed to promoting the energy sector in Dubai on the global level, giving
the emirate opportunities to support and adopt major energy-focused events, such as the World Energy
Forum in 2012 and the World Green Economy Summit in 2014 which will be held concurrently with the
exhibition in collaboration with Dubai Green Economy Partnership under the theme “Global Partnerships ,
Sustainable Future”, with the participation of leading experts from the areas of energy and business, as well
as government leaders and international organisations.
DEWA will launch the first ‘Green Week’ on the sidelines of WETEX 2014. It will include a series of
community events targeting all segments of society, including children and students with a wide
participation from organizations and entities specialised in green products. The Green Week will also
include workshops for students, social media competitions and allocated stands for participating companies
and organisations to showcase eco-friendly products.
6. Copyright © 2014 NewBase www.hawkenergy.net Edited by Khaled Al Awadi – Energy Consultant All rights reserved. No part of this publication may be reproduced,
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The seminars organised during WETEX every year are attracting worldwide attention. We have succeeded
in bringing together a group of experts and specialists in water, energy and environment sectors. These
discussion forums have increased the number of visitors who will benefit from the new technologies, best
practices and expertise showcased by exhibitors,” HE Al Tayer concluded .
According to WETEX founder and chairman
“ WETEX has featured a range of green initiatives, which DEWA and other organisations are committed to,
at SmarTech. In support of the UAE strategy for green development, which focuses on the promotion and
development of green technologies, SmarTech offers a great opportunity to demonstrate Dubai’s
commitment to reducing waste and protecting our environment from pollution. Perhaps our most significant
milestone to date has been the announcement by DEWA, under the umbrella of the Dubai Supreme Council
of Energy, of the Mohammed bin Rashid Al Maktoum Solar Park. This park will feature a range of solar
energy technologies, including photovoltaic and concentrated solar power systems, which will provide up to
1,000 MW of renewable energy for the Emirate of Dubai. “
7. Copyright © 2014 NewBase www.hawkenergy.net Edited by Khaled Al Awadi – Energy Consultant All rights reserved. No part of this publication may be reproduced,
redistributed, or otherwise copied without the written permission of the authors. This includes internal distribution. All reasonable endeavours have been used to ensure the accuracy of the information contained
in this publication. However, no warranty is given to the accuracy of its content . Page 7
Oman's oil production to rise in 2014: Officials
(QNA) + http://thepeninsulaqatar.com/news/
The Sultanate's crude oil production is expected to be at the end of this year between 940,000
and 950,000 barrels per day due to the good results achieved by the end of 2013.
Undersecretary of the Omani Ministry of Oil and Gas, Eng. Salim bin Nasser al-Oufi said in a
statement carried by Oman News Agency (ONA) that gas production is currently stands at 80
million cubic meters. Additional 5 to 7 million cubic meters of gas are imported from the Dolphin
project to cover domestic needs.
The statement noted that the Ministry of Oil and Gas continuously signs drilling and exploration
contracts, as it is expected to sign 6 contracts in 2014 in open areas and offering some other
areas for marketing.
The cost of production per barrel of oil had reached $23 last year, noting that the price is not
necessarily affected by the world oil prices. But is affected by high inflation as a result of higher
prices of services, materials and mechanism of extraction.
Oman Secret to EOR :- ( By : Newbase )
The goal is to reduce the amount of natural gas burned at an existing thermal EOR plant in the nation's
southern region, preserving that gas for higher-value applications, including power generation,
desalination, industrial development and export. Translation: the less gas Oman uses, the more it can sell
on the open market.
The new solar EOR facility is the concentrated kind, which takes the sun's rays and heats up water to
produce steam that will be fed directly into PDO’s existing steam distribution network. The facility takes up
more than four acres and will produce 11 tons of high temperature (312 degrees Celsius, or 594 degrees
Fahrenheit), high pressure (1,450 psi) steam per hour.
CSP "single transit trough" technology employs a collection of lightweight reflective mirrors enclosed in a
glasshouse structure to protect the system from the region's dirt, dust, sand, and humidity. In sunny areas,
CSP can reduce the amount of natural gas used for EOR by up to 80 percent.
Natural gas is not a Middle Eastern strength and traditional techniques such as steam flooding use too
much natural gas to be worthwhile. Since the economies of Middle Eastern nations depend on natural
resources for growth, Oman sees solar EOR as a way to remove the economic restriction.
8. Copyright © 2014 NewBase www.hawkenergy.net Edited by Khaled Al Awadi – Energy Consultant All rights reserved. No part of this publication may be reproduced,
redistributed, or otherwise copied without the written permission of the authors. This includes internal distribution. All reasonable endeavours have been used to ensure the accuracy of the information contained
in this publication. However, no warranty is given to the accuracy of its content . Page 8
Swala Commits to Further Exploration in Tanzania
www.swala-energy.com , Press release
Swala Energy Limited “Swala , through its 65% owned subsidiary Swala Oil & Gas (Tanzania)
PLC, advises that it has informed the Tanzanian Petroleum Development Corporation (“TPDC”)
that it has committed to entering the second 2-Year exploration phase of the Initial Exploration
Term in both its Pangani and Kilosa-Kilombero Production Sharing Agreement (“PSA”) licence
areas, together with its Joint Venture partner Otto Energy (Tanzania) Ltd, a wholly-owned
subsidiary of Otto Energy Ltd .
Under the terms of the PSA Swala could have withdrawn after both the First and Second Years of
the Initial Exploration Term should exploration results have proved disappointing. Swala’s
decision to proceed into years 3 and 4 in both licence areas was supported by the encouraging
results observed following interpretation of Swala’s 2012 airborne gravity and magnetic survey
that was followed by the highly successful 2D seismic campaign undertaken during 2013, where 5
significant prospective hydrocarbon basins were investigated by the acquisition of 563km of data.
The work commitment in this next period includes additional seismic acquisition and the drilling of
1 exploration well in each of the two areas to be completed before the end of February 2016.
Swala is excited about the prospectivity of both areas with the seismic data proving 2 significant
Neogene basins, similar in age to those basins being successfully explored in Kenya and Uganda
by Tullow Oil.
9. Copyright © 2014 NewBase www.hawkenergy.net Edited by Khaled Al Awadi – Energy Consultant All rights reserved. No part of this publication may be reproduced,
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In the Kilombero basin Swala has been further encouraged by the early identification of the Kito
prospect which, pursuant to the ASX announcement made by the Company on 11 December
2013, the prospective resource assessment of this structure, prepared by the independent
consultancy RISC, indicated a net prospective unrisked resource of between 12.5 million barrels
and 110.5 million barrels net to Swala. This is also encouraging for the similar aged Moshi basin in
the Pangani PSA where further seismic surveys can help identify similar structures.
Throughout the first 2 years of the Initial Exploration Term Swala has carried out operations
safely, on budget and completed all its work commitments in a timely manner, much to the
satisfaction of the regulatory body TPDC. Dr. David Mestres Ridge (CEO) said “The results of
Swala’s exploration efforts in our Pangani and Kilosa-Kilombero PSA licence areas over the last 2
years has unveiled 2 exciting Neogene basins and a prospect of significant size in one of them
and further prospects being investigated by our geological teams.” “We are very excited about the
discovery of the basins and this initial prospect that all bodes well for the joint venture’s
exploration plans for the next 2 years.”
“During these last 2 years we have enjoyed an excellent working relationship with the TPDC and
are looking forward to this continued positive and constructive relationship which is steadily
enhancing the prospect for onshore oil discovery in Tanzania .
10. Copyright © 2014 NewBase www.hawkenergy.net Edited by Khaled Al Awadi – Energy Consultant All rights reserved. No part of this publication may be reproduced,
redistributed, or otherwise copied without the written permission of the authors. This includes internal distribution. All reasonable endeavours have been used to ensure the accuracy of the information contained
in this publication. However, no warranty is given to the accuracy of its content . Page 10
Chevron and KMG align offers on Kazakhstan Future Growth Project
http://www.2b1stconsulting.com
The California-based international oil company (IOC) Chevron Corporation (Chevron) and its partners, the
Kazakh national oil company (NOC) KazMuniaGas (KMG), the global leader ExxonMobil and the Russia
company LukArco (Lukoil) are closely reviewing the offers of the engineering companies to award the
engineering, procurement and construction (EPC) contract for the Future Growth Project (FGP) to expand
the Tengizchevroil (TCO) oil field on the west side of Kazakhstan.
Covering 2,500 square kilometers near the Caspian Sea, the TCO oil field development includes the Tengiz
field, the Korolev field and some other prospects to be developed. Discovered by 4,000 meters depth in
1930s, while the Soviets were
prospecting the Pre-Caspian Depression,
the first well started to produced the
first oil from the Tengiz field only in
1979.
Together with the Korolev and
associated fields, Tengiz is estimated to
hold up to 9 billion barrels of
recoverable reserves of crude oil from
about 26 billion barrels of in-place
reserves. Despite its large size, Tengiz
had been left undeveloped during
decades because of its technical
challenges. The first tests had indicated that Tengiz reservoir should accumulate high temperature, high
pressure and high hydrogen sulfide content requiring skill of art expertise most advanced technologies.
In 1993, Kazakhstan and Chevron established the joint venture Tengizchevroil (TCO) from Chevron and the
local Tengizneftegas Production Association, and signed a 40 years agreement.
In 1997, LukArco (Lukoil) took share in the TCO joint venture so that the working interests stand currently
between:
- Chevron 50% is the operator
- ExxonMobil 25%
- KMG 20%
- LukArco 5%
Local content required for TCO Future Growth Project
Since its first development, Tengiz production has been supported by the construction of crude oil
processing facilities called Complex Technology Lines (CTL) to separate the associated natural gas, the
liquid petroleum gas (LPG) and the hydrogen sulfide.
This sour gas and re-injected in the reservoir to maintain the pressure and enhance the oil recovery (EOR)
rate from Tengiz field.
11. Copyright © 2014 NewBase www.hawkenergy.net Edited by Khaled Al Awadi – Energy Consultant All rights reserved. No part of this publication may be reproduced,
redistributed, or otherwise copied without the written permission of the authors. This includes internal distribution. All reasonable endeavours have been used to ensure the accuracy of the information contained
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If not carefully controlled, this re-injection of large quantities of sour gas may destabilize the crude oil
reserves and turn Tengiz even more complex to develop.
In May 2012, TCO awarded the front end engineering and design (FEED) and engineering, procurement
and construction management (EPCM) contract for the Wellhead Pressure Management package of the
Tengiz Future Growth Project to a team led by Fluorand supported by WorleyParsons and the Kazakh
Institutes KING and KGNT.
With the Future Growth Project,
Chevron and its partners are planning
to increase this capacity from the
current 260,000 barrels per day to
780,000 b/d in two phases.
To proceed to the Tengiz Expansion,
Chevron developed with his partners a
new technology named Second
Generation Plant (SGP) associated to
Sour Gas Injection (SGF) facilities.
These crude oil processing SGP and
SGF facilities will support the drilling
program to add 190 wells in the Future
Growth Project for a capital
expenditure of $25 billion. Because of the location,Chevron and its partners opted for a modular
construction of the Second Generation Plants and Sour Gas Injection facilities.
Therefore the contenders to submit offers for the Future Growth Project construction had to propose world-
class shipyards to produce and ship these complex modules in that quantity.
Two teams of South Korean contractors are in competition for the engineering, procurement and
construction (EPC) contract of Future Growth Project.
Chevron and its partners had planned to sanction this contract last year but the Kazakh requirement to
integrate 44% of local content in the Future Growth Project caused some delay to evaluate the local partners
to be involved in the respective South Korean teams.
In order to manage the local suppliers and subcontractors, the Kazakh Government is putting in place the
National Service Company (NSC) that will support TCO.
In parallel GE Nuovo Pignone has been awarded the gas compressors.
Since the Kazakhstan Government approved the TCO expansion project in October 2013, Chevron and its
partners ExxonMobil, KMG and Lukoil are close the make a decision for the EPC contract of the Future
Growth Project to come on stream in 2015 for the first phase and 2018 for the second phase.
12. Copyright © 2014 NewBase www.hawkenergy.net Edited by Khaled Al Awadi – Energy Consultant All rights reserved. No part of this publication may be reproduced,
redistributed, or otherwise copied without the written permission of the authors. This includes internal distribution. All reasonable endeavours have been used to ensure the accuracy of the information contained
in this publication. However, no warranty is given to the accuracy of its content . Page 12
UK: Keen to keep Scotland, UK unveils boost to oil and gas sector
Reuters via Yahoo! News
The British government said on Monday it would enact sweeping measures to make it easier to unlock hard-
to-extract North Sea gas and billions of barrels of oil as it tries to persuade Scotland to remain part of the
United Kingdom. The announcement, timed to coincide with Prime Minister David Cameron's first full
cabinet meeting in Scotland, had multiple aims: to boost the oil and gas industry, to shore up tax revenues,
to cut dependence on energy imports, and to persuade Scots to stay in the UK.
Scots will vote on whether to end their 307-year-old union with England on September 18 and the future
of the small country's oil and gas industry has featured heavily in a campaign in which pro-independence
nationalists are trailing. The North Sea is thought to contain billions of barrels of hard-to-reach oil, but with
many platforms and pipelines coming to the end of their working lives, time is running out to get at them.
The measures the government said it would adopt and fast-track were all recommended in a report drawn up
by Ian Wood, former chairman of oil services company Wood Group,, on maximising recovery of oil and
gas from Britain's North Sea. The government said the changes could be worth up to 200 billion pounds
($333.74 billion)in the next two decades and allow the industry to recover 3-4 billion more barrels of oil
than would otherwise have been produced.
Measures to be adopted include the creation of a new independent industry regulator and a decision to
award production licences on the basis of recovering the maximum amount of oil from UK waters as a
whole rather than just each individual licence block. The government also pledged to cut red tape and better
share infrastructure and geophysical information.
Cameron, who is due on Monday to hold his first full cabinet meeting in Scotland in Aberdeen, the heart of
the UK oil industry, said Britain's unity enabled it to maximise the benefits of Scotland's North Sea oil and
gas. 'I promise we will continue to use the UK's broad shoulders to invest in this vital industry so we can
attract businesses, create jobs, develop new skills in our young people and ensure we can compete in the
global race,' he said in a statement.
Ed Davey, the energy minister, said the measures were designed to address what he called 'unprecedented
challenges', noting that tax revenues for 2012/13 were over 40 percent lower than the year before. But he
said Scotland, as part of the UK, was protected from such revenue falls and shielded from oil price volatility
that he said could dramatically affect a small country's
budget.
Despite the official government forecaster predicting
lower revenues in the next three years, he said: 'Instead
of needing to cut spending the Scottish Government will
see its budget rise by more than 300 million pounds.
Scotland benefits as part of the UK from being able to
pool resources.' The oil and gas industry employed
450,000 people in the UK and should do so for years to
come, he added.
Angus Robertson, a pro-independence lawmaker from
the Scottish National Party, said his expectations ahead
of the government's Scottish cabinet meeting were low.
'Think that after first UK Cabinet visit to north of Scotland since the 1920s there'll be a thank you for the oil
and whisky tax billions?' he asked on Twitter.
13. Copyright © 2014 NewBase www.hawkenergy.net Edited by Khaled Al Awadi – Energy Consultant All rights reserved. No part of this publication may be reproduced,
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in this publication. However, no warranty is given to the accuracy of its content . Page 13
IEV Commences Work-Over at PBN-01 Well in Pabuaran Block in West Java
by IEV Holdings Ltd. (www.rigzone.com/news ) Press Releas
IEV Holdings Limited (the Company, and together with its subsidiaries, IEV or the Group), a
Singapore-listed integrated engineering solutions provider, reported Friday
that the Group will commence work-over activities at existing well PBN-01
in the Pabuaran Block (the Kerjasama Operasi, or KSO Project) in Subang
district, West Java, Indonesia in February 2014.
The work-over activities by IEV's subsidiary PT IEV GAS follow the recent well site preparation
and will take approximately 14 days to complete. During the work-over activities, the well will be
tested for reserves calculations and production flow rate to allow the Group to prepare the
necessary surface facilities to bring the well to production. The Group has also completed the
reprocessing of seismic data. The results of the study have potentially identified additional areas
and structures the Group can explore within the KSO Project. Until production test results are
available and commercial production commences, the KSO Project is not expected to have any
impact on the Group’s earnings per share and net tangible assets per share for the current
financial year ending Dec. 31.
The Group also plans to commence a drilling program at CLS structure in 2014 and further
announcements will be made as drilling schedule is confirmed.Save for their shareholdings in the
Company, none of the Directors or controlling shareholders of the Company has any interest,
direct or indirect, in the KSO Project. The Directors are also not aware of any substantial
shareholders that have any interest, direct or indirect, in the KSO Project.Investors and potential
investors are advised to exercise caution when dealing with the shares of the Company in relation
to this announcement.
14. Copyright © 2014 NewBase www.hawkenergy.net Edited by Khaled Al Awadi – Energy Consultant All rights reserved. No part of this publication may be reproduced,
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in this publication. However, no warranty is given to the accuracy of its content . Page 14
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 a total of 24 yearsKhaled Al Awadi is a UAE National with a total of 24 yearsKhaled Al Awadi is a UAE National with a total of 24 yearsKhaled Al Awadi is a UAE National with a total of 24 years of experience in theof experience in theof experience in theof experience in the Oil & Gas sector. Currently working asOil & Gas sector. Currently working asOil & Gas sector. Currently working asOil & Gas sector. Currently working as
Technical Affairs Specialist for Emirates GeTechnical Affairs Specialist for Emirates GeTechnical Affairs Specialist for Emirates GeTechnical Affairs Specialist for Emirates General Petroleum Corp. “Emarat“ with external voluntary Energy consultation forneral Petroleum Corp. “Emarat“ with external voluntary Energy consultation forneral Petroleum Corp. “Emarat“ with external voluntary Energy consultation forneral Petroleum Corp. “Emarat“ with external voluntary Energy consultation for
the GCC area via Hawk Energy Service as a UAE operations base , Most of the experience were spent as the Gas Operationsthe GCC area via Hawk Energy Service as a UAE operations base , Most of the experience were spent as the Gas Operationsthe GCC area via Hawk Energy Service as a UAE operations base , Most of the experience were spent as the Gas Operationsthe GCC area via Hawk Energy Service as a UAE operations base , Most of the experience were spent as the Gas Operations
Manager in Emarat , responsible for Emarat Gas PipManager in Emarat , responsible for Emarat Gas PipManager in Emarat , responsible for Emarat Gas PipManager in Emarat , responsible for Emarat Gas Pipeline Network Facility & gas compressor stations . Through the years , he has developedeline Network Facility & gas compressor stations . Through the years , he has developedeline Network Facility & gas compressor stations . Through the years , he has developedeline Network Facility & gas compressor stations . Through the years , he has developed
great experiences in the designing & constructinggreat experiences in the designing & constructinggreat experiences in the designing & constructinggreat experiences in the designing & constructing of gas pipelines, gas metering & regulating stations and in the engineering of supplyof gas pipelines, gas metering & regulating stations and in the engineering of supplyof gas pipelines, gas metering & regulating stations and in the engineering of supplyof gas pipelines, gas metering & regulating stations and in the engineering of supply
routes. Many years were spentroutes. Many years were spentroutes. Many years were spentroutes. Many years were spent drafting, & compiling gas transportation , operation & maintenance agreements along with many MOUs fordrafting, & compiling gas transportation , operation & maintenance agreements along with many MOUs fordrafting, & compiling gas transportation , operation & maintenance agreements along with many MOUs fordrafting, & compiling gas transportation , operation & maintenance agreements along with many MOUs for
the local authorities. He has become a reference for many of the Oil & Gas Conferences held in the UAE andthe local authorities. He has become a reference for many of the Oil & Gas Conferences held in the UAE andthe local authorities. He has become a reference for many of the Oil & Gas Conferences held in the UAE andthe local authorities. He has become a reference for many of the Oil & Gas Conferences held in the UAE and Energy program broadcastedEnergy program broadcastedEnergy program broadcastedEnergy program broadcasted
internationallyinternationallyinternationallyinternationally , via GCC leading satellite, via GCC leading satellite, via GCC leading satellite, via GCC leading satellite ChannelsChannelsChannelsChannels ....
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NewBase 24 February 2014 K. Al Awadi