10 Things That May Affect the Future of Subsea ProductionHubie Fix
The oil and gas industry is facing challenges and dilemmas encountered in 2009 such as contract delays, furloughs and rig closures are resurfacing. As oil and gas prices continue to decline, oil companies are starting to consider rig stacking as an alternative to reducing overhead and operating costs. This presentation explored what the future might hold for the subsea market, current infrastructures and future deepwater project development.
This presentation was presented at the 2015 Deepwater Technical Symposium in New Orleans, Louisiana.
The move toward using liquid natural gas (LNG) as a propulsion fuel is continuing to gain momentum as new environmental regulations are enacted and facilities are expanded. LNG propulsion holds the potential to disrupt the largely value chain of maritime and similarly commoditized fuel industry. As such, LNG propulsion is enjoying high awareness across the industries as established positions in the market may be challenged and convergence may enable entirely new key players. This may facilitate a new business eco-system of independent entities.
However, due to imposed regulations from IMO and MARPOL, a need for technologies to clean or eliminate vessel propulsion exhaust has emerged. Though promising prospects, LNG propulsion is fairly an infantile technology in shipping, i.e. progress is needed in infrastructure facilities and bunkering etc., in order to further build and mature the market. Despite a need for extensive modifications to retrofit LNG in vessels, it is an attractive compliance option.
Europe yards have already somewhat proven track record, while Asian yards are rapidly mobilising to accommodate the rising demand. LNG propulsion has developed steadily over time and is to this day applicable across large variety of engine types. Of the key engine manufacturers especially Rolls Royce, Wartsilla, and Man Diesel are active in the market and already produce a variety of commercially proven models.
This reports majorly seeks to present the compliance options for fuel industry, namely, the use of low sulphur fuels, installation of scrubbers and utilization of LNG as propulsion fuel. LNG production/ supply is believed to sufficient to oblige the needed quantities to propel the forecasted penetration in fleet and geographical spread. Yards are generally mobilising to build capacity, know-how and to deliver according to demand at present. The success of LNG propulsion technology and its penetration in the market, is determined by timing, as the infrastructure availability and market potential must be aligned.
10 Things That May Affect the Future of Subsea ProductionHubie Fix
The oil and gas industry is facing challenges and dilemmas encountered in 2009 such as contract delays, furloughs and rig closures are resurfacing. As oil and gas prices continue to decline, oil companies are starting to consider rig stacking as an alternative to reducing overhead and operating costs. This presentation explored what the future might hold for the subsea market, current infrastructures and future deepwater project development.
This presentation was presented at the 2015 Deepwater Technical Symposium in New Orleans, Louisiana.
The move toward using liquid natural gas (LNG) as a propulsion fuel is continuing to gain momentum as new environmental regulations are enacted and facilities are expanded. LNG propulsion holds the potential to disrupt the largely value chain of maritime and similarly commoditized fuel industry. As such, LNG propulsion is enjoying high awareness across the industries as established positions in the market may be challenged and convergence may enable entirely new key players. This may facilitate a new business eco-system of independent entities.
However, due to imposed regulations from IMO and MARPOL, a need for technologies to clean or eliminate vessel propulsion exhaust has emerged. Though promising prospects, LNG propulsion is fairly an infantile technology in shipping, i.e. progress is needed in infrastructure facilities and bunkering etc., in order to further build and mature the market. Despite a need for extensive modifications to retrofit LNG in vessels, it is an attractive compliance option.
Europe yards have already somewhat proven track record, while Asian yards are rapidly mobilising to accommodate the rising demand. LNG propulsion has developed steadily over time and is to this day applicable across large variety of engine types. Of the key engine manufacturers especially Rolls Royce, Wartsilla, and Man Diesel are active in the market and already produce a variety of commercially proven models.
This reports majorly seeks to present the compliance options for fuel industry, namely, the use of low sulphur fuels, installation of scrubbers and utilization of LNG as propulsion fuel. LNG production/ supply is believed to sufficient to oblige the needed quantities to propel the forecasted penetration in fleet and geographical spread. Yards are generally mobilising to build capacity, know-how and to deliver according to demand at present. The success of LNG propulsion technology and its penetration in the market, is determined by timing, as the infrastructure availability and market potential must be aligned.
2012 09 Welsh Government – Marine Planning Update Al Storer, Welsh Governmen...SevernEstuary
Al Storer - Welsh Government Marine Team
Welsh Government, Marine Planning Update
Alan started his career as a Foreign Direct Investment Project Executive for the Welsh Development Agency, working across a number of advanced manufacturing sectors before joining the Welsh Government and continuing in a similar role for International Business Wales. Alan initially joined the Marine Branch of the Welsh Government to help project manage the implementation of the Marine and Coastal Access Act in Wales on a 1 year secondment. Alan returned to Marine Branch in January 2011 as a Marine Planning Officer.
This talk will offer an overview of the work of the Welsh Government within the marine planning process. The presentation will offer an insight into marine planning specifically within the Severn Estuary including current planning updates.
Captain Johnson and Vann Burgess presented on the National Recreational Boating Safety Program, including such items as the
national casualty and numbered boat statistics, reauthorization of the Sport Fish Restoration and Boating Trust fund, and much more.
This information is essential to all of the partnering organizations to the National Program and provides us all with the direction and the ability to plan effectively for making boating safer and more enjoyable.
Eastern Macedonia and Thrace Institute of Technology
Dept. of Petroleum and Natural Gas Engineering
MSc in Oil & Gas Technology
“Oil Trading”
“Cyprus: An update on gas exploration and reserves”
Supervisor: N. Kontinakis
January 2014
Energy Conservation through Social Competitions in Blocks of FlatsAndreas Kamilaris
Buildings are responsible for a large fraction of the world’s total electrical consumption. Energy awareness of residents, by means of timely electrical consumption feedback through smart metering, aims to reduce the waste of energy. Further savings can be achieved by leveraging social norms and entertainment to drive sustainable behavior. In this paper, we investigate two important pillars in the energy saving initiatives, which are the recreational aspect and the social influence of the neighborhood. We performed a small case study in two blocks of flats, creating a social competition among the flats, to award those with the best energy management. Our evaluation results indicate that energy-related social games have the potential to contribute significantly in reducing the electricity footprint of home residents, engaging them in more sustainable lifestyles.
This project has been presented at the 1st International Conference on Smart Grids and Green IT Systems (SMARTGREENS), at Porto, Portugal in April, 2012.
Fingrid Oyj, Investor Presentation December 2014Fingrid Oyj
These materials have been prepared based upon information that Fingrid Oyj believes to be reliable. Market data presented is based on the information and belief of Fingrid Oyj's management and has not been independently verified. Certain data in this presentation was obtained from various external data sources and Fingrid Oyj has not verified such data with independent sources. Such data involves risks and uncertainties and is subject to change based on various factors.
Fingrid Oyj makes no representation or warranty, express or implied, as to the accuracy or completeness of the information contained in these materials and accordingly, Fingrid Oyj accepts no responsibility or liability (in negligence or otherwise) for the
information contained herein.
The 90th Business Outlook Survey is based on responses received from over 150 industry members. Majority of respondents (48%) belonged to large-scale sector, while medium and small scale companies comprised of 17 per cent and 35 per cent respectively. Further, the largest 50 per cent of respondents were from services, followed by 44 per cent from manufacturing and 6 per cent from primary sector.
A majority (55%) of the respondents expect GDP growth to settle in the range of 6.5-7.5 per cent in FY15. This is directly in line with 7.4 per cent GDP growth in FY15 as per the revised estimates of CSO. In a welcome sign, while GDP is expected to register high growth rate, inflationary expectations have moderated. A considerable proportion (72%) of respondents believe that wholesale inflation will remain below 6.0 per cent level in FY15, which should provide legroom to RBI to soften the monetary policy in favour of growth.
In further indication of macro-economic strengthening, around 72 per cent of respondents expected current account deficit (CAD) to be less than 2.5 per cent (of GDP) in FY15. India’s CAD stood at 1.8 per cent in first three quarters of FY15, after it narrowed sharply to 1.7 per cent in FY14 from 4.7 per cent in FY13.
2012 09 Welsh Government – Marine Planning Update Al Storer, Welsh Governmen...SevernEstuary
Al Storer - Welsh Government Marine Team
Welsh Government, Marine Planning Update
Alan started his career as a Foreign Direct Investment Project Executive for the Welsh Development Agency, working across a number of advanced manufacturing sectors before joining the Welsh Government and continuing in a similar role for International Business Wales. Alan initially joined the Marine Branch of the Welsh Government to help project manage the implementation of the Marine and Coastal Access Act in Wales on a 1 year secondment. Alan returned to Marine Branch in January 2011 as a Marine Planning Officer.
This talk will offer an overview of the work of the Welsh Government within the marine planning process. The presentation will offer an insight into marine planning specifically within the Severn Estuary including current planning updates.
Captain Johnson and Vann Burgess presented on the National Recreational Boating Safety Program, including such items as the
national casualty and numbered boat statistics, reauthorization of the Sport Fish Restoration and Boating Trust fund, and much more.
This information is essential to all of the partnering organizations to the National Program and provides us all with the direction and the ability to plan effectively for making boating safer and more enjoyable.
Eastern Macedonia and Thrace Institute of Technology
Dept. of Petroleum and Natural Gas Engineering
MSc in Oil & Gas Technology
“Oil Trading”
“Cyprus: An update on gas exploration and reserves”
Supervisor: N. Kontinakis
January 2014
Energy Conservation through Social Competitions in Blocks of FlatsAndreas Kamilaris
Buildings are responsible for a large fraction of the world’s total electrical consumption. Energy awareness of residents, by means of timely electrical consumption feedback through smart metering, aims to reduce the waste of energy. Further savings can be achieved by leveraging social norms and entertainment to drive sustainable behavior. In this paper, we investigate two important pillars in the energy saving initiatives, which are the recreational aspect and the social influence of the neighborhood. We performed a small case study in two blocks of flats, creating a social competition among the flats, to award those with the best energy management. Our evaluation results indicate that energy-related social games have the potential to contribute significantly in reducing the electricity footprint of home residents, engaging them in more sustainable lifestyles.
This project has been presented at the 1st International Conference on Smart Grids and Green IT Systems (SMARTGREENS), at Porto, Portugal in April, 2012.
Fingrid Oyj, Investor Presentation December 2014Fingrid Oyj
These materials have been prepared based upon information that Fingrid Oyj believes to be reliable. Market data presented is based on the information and belief of Fingrid Oyj's management and has not been independently verified. Certain data in this presentation was obtained from various external data sources and Fingrid Oyj has not verified such data with independent sources. Such data involves risks and uncertainties and is subject to change based on various factors.
Fingrid Oyj makes no representation or warranty, express or implied, as to the accuracy or completeness of the information contained in these materials and accordingly, Fingrid Oyj accepts no responsibility or liability (in negligence or otherwise) for the
information contained herein.
The 90th Business Outlook Survey is based on responses received from over 150 industry members. Majority of respondents (48%) belonged to large-scale sector, while medium and small scale companies comprised of 17 per cent and 35 per cent respectively. Further, the largest 50 per cent of respondents were from services, followed by 44 per cent from manufacturing and 6 per cent from primary sector.
A majority (55%) of the respondents expect GDP growth to settle in the range of 6.5-7.5 per cent in FY15. This is directly in line with 7.4 per cent GDP growth in FY15 as per the revised estimates of CSO. In a welcome sign, while GDP is expected to register high growth rate, inflationary expectations have moderated. A considerable proportion (72%) of respondents believe that wholesale inflation will remain below 6.0 per cent level in FY15, which should provide legroom to RBI to soften the monetary policy in favour of growth.
In further indication of macro-economic strengthening, around 72 per cent of respondents expected current account deficit (CAD) to be less than 2.5 per cent (of GDP) in FY15. India’s CAD stood at 1.8 per cent in first three quarters of FY15, after it narrowed sharply to 1.7 per cent in FY14 from 4.7 per cent in FY13.
How Albanian legislation facilitates the exploration and development of hydro...Albania Energy Association
Presentation: How Albanian legislation facilitates the exploration and development of hydrocarbons
Dael Dervishi, Executive Director, National Agency of Natural Resources (AKBN)
ERHC Presentation at Enercom's London Oil & Gas ConferenceDan Keeney
ERHC was among 12 U.S. E&P and Oil Service companies that presented their stories to institutional investors, research analysts, private equity firms, commercial lenders, high net worth investors, and oil and gas industry professionals at Enercom’s London Oil & Gas Conference on Tuesday, June 11, 2013. Mr. Ntephe discussed the Company’s diverse portfolio of exploration assets stretching across the African continent and will highlight the progress being made toward eventual drilling.
The revival and transformation of Europe’s largest onshore oilfield; the Pato...Albania Energy Association
Presentation: The revival and transformation of Europe’s largest onshore oilfield; the Patos-Marinza field
Leonidha Çobo, General Manager, Bankers Petroleum Albania Ltd
Iraq Petroleum Law. The status of the KRG within the law and the mechanism of acquiring a petroleum licence in Iraq according to the law. KRG concern about the contracts done in KRG through Iraq Petroleum Law.
Presentation: Overall analysis of the onshore sector of Albania and current developments
Dritan Spahiu, Director of Policies and Development of Hydrocarbons, Ministry of Energy and Industry
The presentation shares my perspectives on how the re-emergence of Iran has come about, where we are today, the energy opportunities that are likely to be on offer and under what terms, principal issues and challenges an investor is likely to face, and the likely impact this may have on the capital and energy markets.
In order to tackle the accelerating growth in the demand for energy, and confront any obstacles which impede the implementation of prosperous energy projects, The Master Strategy of the Energy Sector in Jordan for the Period 2007 – 2020 (“Jordan’s Energy Strategy”) has been sanctioned by the Cabinet on 7/12/2004. In both the oil and the natural gas sectors, the principle recommendation and goal of the Jordan’s Energy Strategy is to attract foreign investment to explore, develop and produce resources in open areas.
In Jordan there is no specific legislation regulating oil and gas activities, yet, the legal framework is suitable for the current volume and condition of operations in the sector. This paper will outline such regime and the oil and gas market as a whole. It will look at the historic development of the market, the current market conditions and players and the legal framework governing oil and gas activities.
Opening Global Markets to Booming U.S. Shale Gas and NGL ProductionICF
ICF International experts join an industry expert from Vinson and Elkins, LLP to discuss the boom in shale gas and natural gas liquids (NGL) production.
Key topics covered include:
• Marketing issues created by the boost in production
• Outlook for gas supply development
• Regulatory and contractual considerations that shape infrastructure development investments
Exploration and production policies Of Oil & Gas in NorwayAbhishek Rajvanshi
Exploration and production of oil and gas in Norway, laws related to E & P, Petroleum laws, lease licence for exploration,Tax regime, reserves and production data
StrategicFit - UK Unconventionals regulationStrategicFit
European unconventional gas regulations have rapidly developed as public and political reaction has evolved. Local populations, confronted with negative media coverage and with limited previous exposure to onshore oil and gas activities, have protested shale gas development. Over the last year this has led to moratoriums on fracking in France and Bulgaria. Whereas in Poland and Ukraine, strong government support has led to major exploration investment.
Following on from our previous study on the developments in in France we have written the following presentation on the response in the UK. It provides insight into the fallout from seismic activity caused by fracking, the structure of relevant environmental and financial regulations and the state of current public opposition.
where can I find a legit pi merchant onlineDOT TECH
Yes. This is very easy what you need is a recommendation from someone who has successfully traded pi coins before with a merchant.
Who is a pi merchant?
A pi merchant is someone who buys pi network coins and resell them to Investors looking forward to hold thousands of pi coins before the open mainnet.
I will leave the telegram contact of my personal pi merchant to trade with
@Pi_vendor_247
Empowering the Unbanked: The Vital Role of NBFCs in Promoting Financial Inclu...Vighnesh Shashtri
In India, financial inclusion remains a critical challenge, with a significant portion of the population still unbanked. Non-Banking Financial Companies (NBFCs) have emerged as key players in bridging this gap by providing financial services to those often overlooked by traditional banking institutions. This article delves into how NBFCs are fostering financial inclusion and empowering the unbanked.
how to sell pi coins in South Korea profitably.DOT TECH
Yes. You can sell your pi network coins in South Korea or any other country, by finding a verified pi merchant
What is a verified pi merchant?
Since pi network is not launched yet on any exchange, the only way you can sell pi coins is by selling to a verified pi merchant, and this is because pi network is not launched yet on any exchange and no pre-sale or ico offerings Is done on pi.
Since there is no pre-sale, the only way exchanges can get pi is by buying from miners. So a pi merchant facilitates these transactions by acting as a bridge for both transactions.
How can i find a pi vendor/merchant?
Well for those who haven't traded with a pi merchant or who don't already have one. I will leave the telegram id of my personal pi merchant who i trade pi with.
Tele gram: @Pi_vendor_247
#pi #sell #nigeria #pinetwork #picoins #sellpi #Nigerian #tradepi #pinetworkcoins #sellmypi
If you are looking for a pi coin investor. Then look no further because I have the right one he is a pi vendor (he buy and resell to whales in China). I met him on a crypto conference and ever since I and my friends have sold more than 10k pi coins to him And he bought all and still want more. I will drop his telegram handle below just send him a message.
@Pi_vendor_247
Currently pi network is not tradable on binance or any other exchange because we are still in the enclosed mainnet.
Right now the only way to sell pi coins is by trading with a verified merchant.
What is a pi merchant?
A pi merchant is someone verified by pi network team and allowed to barter pi coins for goods and services.
Since pi network is not doing any pre-sale The only way exchanges like binance/huobi or crypto whales can get pi is by buying from miners. And a merchant stands in between the exchanges and the miners.
I will leave the telegram contact of my personal pi merchant. I and my friends has traded more than 6000pi coins successfully
Tele-gram
@Pi_vendor_247
Even tho Pi network is not listed on any exchange yet.
Buying/Selling or investing in pi network coins is highly possible through the help of vendors. You can buy from vendors[ buy directly from the pi network miners and resell it]. I will leave the telegram contact of my personal vendor.
@Pi_vendor_247
BYD SWOT Analysis and In-Depth Insights 2024.pptxmikemetalprod
Indepth analysis of the BYD 2024
BYD (Build Your Dreams) is a Chinese automaker and battery manufacturer that has snowballed over the past two decades to become a significant player in electric vehicles and global clean energy technology.
This SWOT analysis examines BYD's strengths, weaknesses, opportunities, and threats as it competes in the fast-changing automotive and energy storage industries.
Founded in 1995 and headquartered in Shenzhen, BYD started as a battery company before expanding into automobiles in the early 2000s.
Initially manufacturing gasoline-powered vehicles, BYD focused on plug-in hybrid and fully electric vehicles, leveraging its expertise in battery technology.
Today, BYD is the world’s largest electric vehicle manufacturer, delivering over 1.2 million electric cars globally. The company also produces electric buses, trucks, forklifts, and rail transit.
On the energy side, BYD is a major supplier of rechargeable batteries for cell phones, laptops, electric vehicles, and energy storage systems.
how to swap pi coins to foreign currency withdrawable.DOT TECH
As of my last update, Pi is still in the testing phase and is not tradable on any exchanges.
However, Pi Network has announced plans to launch its Testnet and Mainnet in the future, which may include listing Pi on exchanges.
The current method for selling pi coins involves exchanging them with a pi vendor who purchases pi coins for investment reasons.
If you want to sell your pi coins, reach out to a pi vendor and sell them to anyone looking to sell pi coins from any country around the globe.
Below is the contact information for my personal pi vendor.
Telegram: @Pi_vendor_247
what is the best method to sell pi coins in 2024DOT TECH
The best way to sell your pi coins safely is trading with an exchange..but since pi is not launched in any exchange, and second option is through a VERIFIED pi merchant.
Who is a pi merchant?
A pi merchant is someone who buys pi coins from miners and pioneers and resell them to Investors looking forward to hold massive amounts before mainnet launch in 2026.
I will leave the telegram contact of my personal pi merchant to trade pi coins with.
@Pi_vendor_247
The secret way to sell pi coins effortlessly.DOT TECH
Well as we all know pi isn't launched yet. But you can still sell your pi coins effortlessly because some whales in China are interested in holding massive pi coins. And they are willing to pay good money for it. If you are interested in selling I will leave a contact for you. Just telegram this number below. I sold about 3000 pi coins to him and he paid me immediately.
Telegram: @Pi_vendor_247
how to sell pi coins effectively (from 50 - 100k pi)DOT TECH
Anywhere in the world, including Africa, America, and Europe, you can sell Pi Network Coins online and receive cash through online payment options.
Pi has not yet been launched on any exchange because we are currently using the confined Mainnet. The planned launch date for Pi is June 28, 2026.
Reselling to investors who want to hold until the mainnet launch in 2026 is currently the sole way to sell.
Consequently, right now. All you need to do is select the right pi network provider.
Who is a pi merchant?
An individual who buys coins from miners on the pi network and resells them to investors hoping to hang onto them until the mainnet is launched is known as a pi merchant.
debuts.
I'll provide you the Telegram username
@Pi_vendor_247
Turin Startup Ecosystem 2024 - Ricerca sulle Startup e il Sistema dell'Innov...Quotidiano Piemontese
Turin Startup Ecosystem 2024
Una ricerca de il Club degli Investitori, in collaborazione con ToTeM Torino Tech Map e con il supporto della ESCP Business School e di Growth Capital
5. Lebanon Main Economic Indicators
Source: The World Bank
Lebanon is one of the world’s most energy-import-dependent countries
and spends 15% of its GDP on fuel import
8. Executive Summary of the presentation
• The presentation will outline:
• Recent oil and gas discoveries in the
Levantine region.
• Legal and institutional framework for the
exploration of offshore Lebanon.
• Time frame including the ongoing licensing
and bidding phases.
• Assessment of challenges and opportunities.
10. • It covers 83,000 km2
• Which engulfed Syrian,
Lebanese, Cypriot and,Israel,
waters.
• USGS estimated (2010):
• 1.7 Billion barrels of
recoverable oil.
• 122 trillion cubic feet of
recoverable gas.
The Levant Basin Potential
Eastern Mediterranean Basin
Source: Lebanese Petroleum Administration
11. Production History of the Levant Basin
•Production began in 2004
from the Mari B field
•Tamar field discovered in
2009; on production March
2013
•Leviathan field discovered in
2010
•Aphrodite/Block 12 – Cyprus
discovered in 2011
Source:
South Levant Basin
12. It is Real !
•Offshore seismic surveys were made by
the Norwegian company, Petroleum Geo
Services and the British company
Spectrum between 2007 and 2013
•The 2-D & 3-D Seismic surveys have
indicated a high probability of
considerable reserves in Lebanon’s
Exclusive Economic Zone (EEZ)
•The interest of major IOCs in Lebanon is
indicative of the potential Offshore
Lebanon
•Lebanon has most promising EEZ in the
Levantine Basin.
Lebanese offshore area, EEZ covers 22,700 km2
Seismic
data
offshore
Lebanon
acquired
by:
•Geco
Prakla
(available
at
the
Petroleum
Administra>on)
•Spectrum
(available
via
Spectrum)
•PGS
(available
via
PGS)
13. How Much Lebanon Have ?
• Estimated gas reserve:
• 25 TCF (2012 Spectrum)
• 96 TCF (2013 Ministry of Energy)
• Estimated Oil Reserves:
• 675 million barrels (2013 Beicip-
Franlab)
• 865 million barrels (2014 Ministry
of Energy)
http://www.economist.com/blogs/pomegranate/2013/12/oil-and-gas-lebanon
14. How Much Lebanon Have ?
• Lebanon has the largest reserve
in the Levantine Basin according
to MoEW
• Considering gas prices at
around US $5.00 per 1000
cubic feet, gas resources’ worth
would vary between $125
billion to $480 billion
• Considering oil prices at around
US $55 per barrel, oil
resources’ worth would vary
between $32 billion and
$48 billion. Officials estimate the value of Lebanon’s calculated gas
reserves offshore to be between $300 billion – $700 billion,
although the numbers are speculative and vary greatly.
ًاتريليون 80و ,األقل على الغاز من مكعب قدم تريليون 25 نحو ياغي ربيع النفطي الخبير بحسب
قدم تريليون كل فان بسيط بحساب .وجوده تأكد اذا الخام النفط من برميل مليار 1.5و ,األكثر على
فان ,تريليونا 25 الغاز من لبنان نصيب كان واذا ,دوالر مليار 12 بنحو قيمته تقدر الغاز من مكعب
.دوالر مليار 960 تتجاوز فالتقديرات ًاتريليون 80 كانت اذا أما ,دوالر مليار 300 بنحو تقدر ثروته
16. What our neighbors have ?
• Cyprus: 60 TCF of gas could be
found in its EEZ
• Israel: 35 TCF of gas could be
found in its EEZ (Leviathan field
22 TCF)
• Syria: Signed a 25 year deal with
Soyuzneftegaz controlling
interest for oil and gas in its
EEZ
• Palestinian National Authority
awarded Gaza offshore area to
British Gas (1999)
17. Lebanon Boundaries Issues
• Lebanon and Israel both
claim ownership over a
possibly resource rich
860 km2 near Lebanon
Southern boarder.
• Lebanon considers Point
23 as the southern
western limit of its EEZ,
while Israel considers
Point 1 (17 km north of
point 23)
Lebanon’s calculations are based on the internationally (UNCLOS)
recognized equidistant method.
Note that Israel does not follow the principles set out by UNCLOS
UNCLOS: United Nations Convention on the Law Of the Seas
18. Lebanon Boundaries Issues
• Lebanon signed an
Agreement on the
Delimitation of its Exclusive
Economic Zone (EEZ) with
Cyprus in January 2007
• Despite the formation of a
committee of Cooperation
between Lebanon and Syria
for Oil Exploration in 1990,
land and sea borders
between both countries
have not been delineated.
Source: Oxford Institute for Energy Studies
20. Offshore Petroleum Resources Law, OPRL (132/2010)
• Modern and takes into account best international practice.
• It provides the legal and institutional framework for the exploration
and exploitation of offshore oil and gas resources.
• It stipulates that any contract with energy companies will be based
on an Exploration and Production Agreement (EPA).
• It strengthen transparency and accountability.
• The profit split is based on the R-Factor* and the Cost Recovery
parameters. Contracts will be awarded to companies (three at least)
offering the best return to the government, i.e. with highest R-Factor.
• The government’s share (Royalty and Profit oil) is to be placed in a
Sovereign Wealth Fund (SWF)
* An R-Factor is the ratio of cumulative receipts from the sale of petroleum to cumulative expenditures
21. Offshore Petroleum Resources Law, OPRL (132/2010)
• It has big emphasis on the local content.
Source Lebanese Petroleum Administration
23. Offshore Petroleum Resources Law, OPRL (132/2010)
Source Lebanese Ministry of Energy and Water
The model contract has to be approved by the Council of Ministers
24. Offshore Petroleum Resources Law, OPRL (132/2010)
• In April 2012 Decree no. 7968/2012 was
issued establishing the Lebanese
Petroleum Administration (LPA) as the
body responsible for the management,
monitoring, and supervision of petroleum
activities, including the issuing of
licenses and the implementation of
agreements. handle functions stipulated
by the OPRL.
• In November 2012, the cabinet of
ministers officially appointed the six
members of the PA. This nomination
enabled Lebanon to proceed with its first
round of offshore oil and gas licensing.
http://www.lpa.gov.lb
Address
Lebanese Petroleum Administration
Marfaa, 200 Building – Third Floor
Georges Akouri Street
Downtown
Beirut, Lebanon
Tel/Fax: +961 1 998 780
info@lpa.gov.lb
26. Petroleum Administration’s board members
• The Strategic Planning Unit directed by
Walid Nasser (Greek Catholic).
• The Technical and Engineering Affairs Unit
directed by Dr. Nasser Hoteit (Shiite).
• The Geology and Geophysics Unit
directed by Wissam Chbat (Maronite).
• The Legal Affairs Unit directed by Gaby
Daaboul (Greek orthodox).
• The Economic and Financial Affairs Unit
directed by Wissam Zahabi (Sunni).
• The Quality, Health, Safety and
Environment (QHSE) Unit directed by
Assem Abou Brahim (Druze).
The PAA is appointed for a term of six years
with a yearly rotating presidency. Gaby Daaboul, Head of Legal Affairs Department, took
office as President of the Petroleum Administration
effective 4 December 2014 for a period of one year.
27. Petroleum Administration’s Responsibilities
•Promote
the
poten>al
petroleum
resources
•Evaluate
the
qualifica>ons
and
capabili>es
of
bidders
•Prepare
invita>ons
to
bid,
specifica>ons,
relevant
permits
and
agreements
•Support
in
nego>a>on
of
the
terms
of
agreements
•Manage,
follow
up,
supervise,
and
monitor
all
petroleum
ac>vi>es
•Evaluate
plans
for
field
development,
petroleum
transporta>on,
decommissioning,
and
removal
of
facili>es.
•Manage
the
data
associated
with
the
petroleum
ac>vi>es.
•Handle
and
manage
the
petroleum
register.
30. DRIFTED TIME FRAME
TIMELINE & MAJOR MILE STONES
The Council of Ministers (Government) has so far failed to approve the decrees indispensable to launching the first bid round !
31. • Two decrees that are essential for tendering Lebanon’s offshore acreage needed to be
approved by the Council of Ministers. These decrees are:
1. One would delimit Lebanon’s territorial sea and exclusive economic zone,
an awkward matter as some blocks straddle a disputed area between Lebanon
and Israel.
2. The other decree would stipulate the provisions of future Exploration and
Production Agreements (EPA). The EPA determines the way in which future
revenues are to be shared between the state and the investors that provide
capital, technology, and expertise. The draft decree has been criticized,
especially regarding two key fiscal parameters — the cost recovery and
profit-sharing provisions — as well as the minimum profit-sharing parameter,
on which investing consortiums may bid.
What is the Problem?
32. The Minister of Energy and Water, Mr. Arthur
Nazarian, issued decision number 3 dated 8
August 2014, announcing that the deadline to
submit bids for the first licensing round has
been extended from 14 August 2014, to a
maximum period of six months from the date
of the adoption of the two decrees related to
block delineation, and the tender protocol and
the model exploration and production
agreement (EPA).
Submission of Bids: Up to 6 months
Bid Evaluation: Up to 2 months
Award: Up to 4 months
The Minister of Energy and Water, Mr. Arthur Nazarian
TIMELINE & MAJOR MILE STONES
33. Block Delineation
A total of ten offshore exploration blocks, still needs the Council of Ministers approval.
Open for bidding within the first licensing round.
34. Subject
to
Council
of
Ministers’
Approval
Nominated
Blocks
for
Bidding
• On February 15, 2013, the Lebanese
Petroleum Administration initiated the
first offshore licensing round.
• On March 30, 2013 fifty two companies
applied to prequalify to the first licensing
round for hydrocarbon exploration
within the Lebanese offshore EEZ.
• On April 18, 2013 the names of the
prequalified companies were announced
First Offshore Licensing Round
Note: Pre-Qualification for the First License Round is now closed.
38. Consortiums formed
• According to the OPRL, oil companies must form consortiums of at
least three companies to become Right Holder.The operator, should
have:
• assets of at least $10 billion.
• experience in drilling at more than 500 m below sea level.
• 35% stake in the consortium.
• So far three consortiums have been formed:
• TOTAL and Lukoil, the third company not disclosed yet.
• ExxonMobil and Rosneft, third not disclosed yet.
• Petrobras and Petroleb, looking for a third.
• Marathon, Cairn Energy and CCEnergy - not officially announced.
Source Lebanese Oil & Gas HANDBOOK by LEBANON OPPORTUNITIES
First Offshore Licensing Round
39. Onshore Exploration
• Seven wells have been drilled onshore (1947-1967),
indicating prospects of onshore petroleum.
• The Lebanese MEW has contracted Spectrum to
acquire onshore oil data, scheduled for February
2013.
• Neos GeoSolutions with the support of its local
partner Petroserv,, announced on Wednesday June
10th, 2015 the completion of Lebanon’s geoscience
program and the data delivery to the Ministry of
Energy and Water
• This geoscience survey over an area of 6,000
square kilometers along the Transition Zone (TZ)
and the northern part of Lebanon’s Onshore,
confirmed the potential of HC in Mount Lebanon
and the Bekaa valley. The US $7.8 Million project
named CedarsOil.
• “Results are promising and companies will come to
invest” according to Mr. Chbat Head of the
Geology and Geophysics department at LPA.
Actual acquisition aircraft used in Lebanon
41. Challenges
• The outlook for Lebanon, however, is highly uncertain. Delayed decision-making and inadequate
administrative capacity cast doubt on the goal of starting production by the end of this decade.
• Managing Hydrocarbon revenues (avoiding the paradox of plenty - Dutch disease).
• As of July 2015, the Lebanese government has failed to pass two decrees that are essential for
tendering Lebanon’s offshore acreage. The failure to pass these two decrees illustrates:
• Lebanon’s complex domestic political landscape, which affects the decision-making
process, the quality of institutions, the efficiency of public administration, and the
business environment, and
• 2) the difficulty of delimiting Lebanon’s EEZ, in light of the dispute with Israel, which
could escalate if either country decided to award blocks in the disputed area
• Another source of delay is the Lebanese “allotment state” (dawlat al-muhasasa)
• As a result, Lebanon suffers from a poor institutional framework, a weak business environment,
administrative inefficiencies, lack of accountability, and political deadlock, even where vital
interests, such as exploration for oil and gas resources, are at stake.
• This political structure also encourages corruption and rent-seeking behavior.
42. Reasons for Optimism
• Despite the internal and external challenges regarding Lebanon’s
offshore energy supplies, there are reasons to be optimistic that
these obstacles could one day be overcome:
• On January 27, 2015 officials from Norway and Lebanon
signed a three-year agreement to cooperate in further
developing Lebanon’s oil and gas sector.
• The United States has also offered its assistance in helping
Israel and Lebanon solve their natural gas dispute. In
December 2014, US Ambassador to Lebanon David Hale said
“United States remains committed to supporting Lebanon’s
efforts to make the transformation to an oil and gas producing
country.”
• Amos J Hochstein, the Department of State Special Envoy and
Coordinator for International Energy Affairs, visited Lebanon
on July 2015. He reaffirmed American support to Lebanon in
its efforts to achieve economic growth and prosperity through
development of its offshore energy prospects.
• The Lebanese themselves are also raising greater awareness
towards advancing the nation’s energy sector.
43. Opportunities
• Conversion of Zouk power Plant and Jieh
Power plant from fuel oil to natural gas.This
will save 2 Billion USD per year.
• Re-commissioning of Tripoli and Bahraini
refineries.
• LNG Export facilities (Cyprus is building one
for US $1.5 Billion)
• Coastal pipeline from Beddawi to Tyre.
• Export Pipeline and facilities to Turkey, Jordan,
Egypt, Syria and Iraq.
• In cities gas distribution network
• Developing petrochemical industries which
will create thousands of jobs (power plants,
fertilizers/Urea plants, Methanol/ethylene
plants, etc….)
45. Useful Links
• Petroleum Administration Lebanon (http://www.lpa.gov.lb)
• American University of Beirut, AUB (http://aub.edu.lb.libguides.com/content.php)
• Ministry of Energy and Water (http://www.energyandwater.gov.lb)
• Investment Development Authority of Lebanon, IDAL (http://investinlebanon.gov.lb)
• http://lebanon-oil-and-gas.blogspot.com
• Oil & Gas HANDBOOK by LEBANON OPPORTUNITIES, (www.infopro.com.lb)
• OIL AND GAS IN LEBANON 2014 by BANKMED
• OIL & GAS SECTOR: A NEW ECONOMIC PILLAR FOR LEBANON 2015 BY Credit Libanais SAL
Bank
• LEBANON:THE NEXT EASTERN MEDITERRANEAN GAS PRODUCER by The German Marshall
Fund of the United States 2015
• Energy Information Administration (EIA), www.eia.gov
• EIA, Eastern Mediterranean Region (http://www.eia.gov/beta/international/analysis_includes/
regions_of_interest/Eastern_Mediterranean/eastern-mediterranean.pdf)