new base special 14 january 2014

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NewBase 14 January 2014 Khaled Al Awadi

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Oman aims to keep oil output steady over two to three years (Reuters.com) – Oman aims to produce oil at current levels around 950,000 barrels per day (bpd) for the next two to three years as the Gulf nation implements techniques to arrest an output decline, its oil and gas minister said on Sunday.

Oman's oil and condensate production averaged 930,000 bpd in 2013, Mohammed bin Hamad Al Rumhy said. "Improved oil recovery and enhanced oil recovery (techniques) we are doing to sustain production at current levels. Our priority is to sustain the production," Rumhy told reporters at the Petrotech energy conference in New Delhi on Sunday.

He also said he favoured ending subsidies on retail rfuel prices and hoped a decision would be taken soon on a price increase. "There is a consensus that we need to increase the price as the current subsidy system is not sustainable ... when can we do it I cannot predict, hopefully soon," he said. Energy prices are heavily subsidised in the six member states of the Gulf Cooperation Council, giving little incentive for their fast-growing populations to moderate use of big gas-guzzling cars or around-the-clock air conditioning.

Oman is under more immediate pressure to reform than its wealthy Gulf neighbours as its energy resources are less ample. The International Monetary Fund has warned that Oman's state finances could slide into deficit in coming years because of recent public spending rises. "The timing is an issue when you remove a subsidy, it becomes more of a political issue than economic issue. I am talking from an economic angle," Rumhy said. In a rare reform, Oman announced plans in early 2013 to double its industrial gas price to $3 per million British thermal units, still cheap by international standards, by 2015. Bahrain recently said it will reassess plans to gradually raise diesel prices from mid-January to cut subsidies after a protest by some members of parliament.




UAE sees keen interest for largest oilfields on revised terms By Nidhi Verma NEW DELHI, Jan 13 (Reuters)

ADCO fields producing 1.6 mln bpd, aim to produce 1.8 mln in 2 years -minister

* Abu Dhabi mulling bringing in big Asian buyers into ADCO concession

* Ruwais refinery expansion to be completed by end-2014

Abu Dhabi has received strong interest from international firms for participating in its largest oilfields, the UAE oil minister said, as it weighs continuing previous partnerships with Western oil giants or letting big Asian buyers take stakes.

Abu Dhabi National Oil Company (ADNOC) took full control of the biggest oilfields in the United Arab Emirates (UAE) when its decades-old venture with four of the world's largest oil companies ended on January 11. Under the concession arrangement, ADNOC held a 60 percent controlling stake in the Abu Dhabi Company for Onshore Oil Operations (ADCO) oilfields, while ExxonMobil, Royal Dutch Shell, Total and BP, each held 9.5 percent stakes.

Several companies, including those whose participation in the concession have expired are interested in joining the project with revised terms, UAE's oil minister Suhail bin Mohammed al-Mazroui told reporters. "Most of the existing partners are involved and expressed keen interest to participate," he said.

"There was a criteria that ADNOC announced. This was based on technology because the challenges moving forward are different than the challenges we had when we started," the minister, who is in New Delhi to attend industry event Petrotech 2014, said.

Abu Dhabi is the capital of the UAE, which is a member of the Organization of Petroleum Exporting Countries (OPEC). UAE's concession system allows oil and gas producers to acquire equity in hydrocarbon resources. ADCO's output is about 1.6 million barrels per day (bpd).

The western oil majors have partnered Abu Dhabi since decades but several Asian energy companies are keen to take stakes in fields that mostly supply oil to the Asian market. These would offer a chance for UAE to strengthen political ties with its biggest oil buyers such as China, Korea and Japan.




The minister, however, said that western companies have agreed to continue working with ADNOC until new contracts are finalised. "There is an arrangement between us and those companies to continue until we finalise the contract. Now, ADNOC is responsible for sale of all of the crude," he said.

WELL-SUPPLIED MARKETS

The Gulf nation has the capacity to produce 3 million barrels per day (bpd) and is currently producing 2.8 million bpd. "Our production goes up and down depending on the market demand. Priority is market should be well supplied of the OPEC crude and UAE is doing its role in that context," al-Mazroui said.

ADNOC aims to raise output from its largest onshore oilfields to 1.8 million barrels per day (bpd) in two years as the country aims for a 3.5 million bpd export capacity by 2017, he said.

ADNOC has a term contract to supply 230,000 bpd to Indian refiners but actual purchases go up to as high as 280,000 bpd as these companies also purchase from the spot market.

"As some members of OPEC like Libya and Iraq are experiencing difficulties, so we are producing as much as we can to ensure that markets are well-supplied," he added.

The minister also said that the expansion of Ruwais refinery of Abu Dhabi Oil Refining Co (Takreer) will be completed by end-2014. The expansion was earlier planned to be completed in the first quarter of 2014.

The minister did not specify the reasons for the delay. The Ruwais refinery has a capacity of 415,000 bpd and expansion work is underway to more than double it. The new refinery would process Abu Dhabi's Murban crude oil grade.




Total deal speeds up UK shale gas race BY KAROLIN SCHAPS -(REUTERS) -

Total has become the first major oil and gas company to strike a deal to explore for shale gas in Britain,

boosting a technology which has brought cheap energy to the United States but sparked protests by

environmentalists and local communities.

The French group said on Monday it had bought a 40 percent interest in two licences in the so-called Gainsborough Trough area of northern England for up to $48 million. Total's involvement, which follows shale gas deals by utilities Centrica and GDF Suez, puts Britain firmly on the map as one of Europe's strongest prospects for the development of unconventional oil and gas resources.

The investment is tiny in industry terms, but experts say it paves the way for similar moves by other top oil and gas firms. "We expect further international energy companies to follow the lead taken by Total (...) and ramp up their plans for signing 'farm-in' agreements with UK firms that already have licences to explore UK shale reserves," said Glynn Williams, partner at Epi-V, an investor in oil and gas services.

However, shale gas extraction or "fracking" - using chemicals, water and sand injected underground at high pressure to fracture rock formations and release the gas - is bitterly opposed by environmentalists who fear it could pollute water, blight landscapes and add to global warming. Last summer, Britain saw protests erupt in the south of the country as local communities expressed opposition as well.

Britain's shale gas resources are estimated at more than 400 times the country's annual gas consumption and the government has thrown its weight behind exploration at a time when rising energy prices have become a hot political issue. In the United States, shale gas exploration has transformed the energy market, caused prices to collapse and set the country on the path towards energy independence.

Tighter planning and environmental regulation, and denser population, mean Britain is unlikely to see a shale gas boom of the kind experienced in the United States. Nonetheless, the British government supports shale gas exploration as a way to reduce the country's growing dependence on gas imports and to increase revenues.

It has allowed handsome tax breaks for companies involved in the nascent industry and promised financial benefits to local communities affected by shale gas exploration. The government also announced on Monday that local councils will be able to keep all of the business rates to be received from shale gas sites, instead of 50 percent currently given, amounting up to 1.7 million pounds per site.




"A key part of our long-term economic plan to secure Britain's future is to back businesses with better infrastructure. That's why we're going all out for shale," Prime Minister David Cameron said, announcing the new rates.

COMPENSATION

The British government's support for shale gas makes it one of Europe's most attractive markets for unconventional oil and gas drilling as others, such as France and Germany, have imposed moratoriums on the activity. "It's ironic that a French-owned company is seeking to drill the UK for shale gas when it's banned from fracking in France due to environmental concerns," said Jane Thomas, senior campaigner at environmental group Friends of the Earth.

France's constitutional court in October upheld a ban on hydraulic fracturing for shale oil and gas. Poland, which also actively encourages shale gas exploration, has seen a raft of oil and gas companies withdrawing from its programme due to poor drilling results and an uncertain legal landscape.

In contrast, Britain's first shale gas is planned to flow by the end of this decade and growing momentum behind the shale gas race is expected to attract other big names to the UK market. Following last summer's protests against shale gas, the government promised improved benefits for communities affected.

Communities are expected to receive 100,000 pounds ($164,800) in compensation as well as a separate fund established by the developer equalling 1 percent of revenue per shale gas well drilled. The compensation scheme starts when exploratory drilling begins. France's GDF Suez bought shale gas licence stakes in a partnership with Dart Energy in October and Britain's Centrica entered the race in June.

Having Total as a partner will be a feather in the cap of industry minnows Dart Energy, Egdon Resources, IGas and eCORP Oil & Gas UK Ltd, with which Total will partner on the two projects in northern England. Britain's IGas will be the operator of the initial exploration programme and Total will take over ownership of the projects as they reach the development phase, the firms said.

A shale gas drilling rig in Weeton, Lancashire. Photograph: FLPA/Alamy




UK offers local councils incentive to accept shale gas drilling

(Reuters.com) –

British local councils that allow shale gas developments will keep 100 percent of a levy they collect from the sites under a government move to persuade communities to accept the fracking process used to extract the gas.

The local tax, known as business rates, is levied by councils on commercial properties in England and Wales. Councils use business rates to pay for local services. Britain's shale gas industry is still at the stage of exploration, not commercial production, but energy companies see it as one of Europe's strongest prospects.

The government is pushing for further exploration despite fierce local and environmental opposition to the hydraulic fracturing process. Prime Minister David Cameron's office said in a statement on Monday that the full business rates take, up from 50 percent under previous rules, could be worth up to 1.7 million pounds ($2.8 million) a year to councils for a typical site.

Local councils have lost big chunks of the grants they receive from central government since 2010 as the Conservative-Liberal Democrat coalition tries to reduce Britain's budget deficit. Hence any potential increase in alternative sources of revenue could be an incentive for them.

The Local Government Association (LGA), which represents all but two of the 375 councils in England and Wales, said the announcement on business rates was a step in the right direction but not enough to satisfy communities affected by fracking. Environmental campaigners say fracking, which involves pumping water and chemicals into the ground, can pollute water supplies and cause earthquakes.




"Local areas will be keen to hear more details on how the community benefits package will be strengthened to fairly renumerate those who will be most affected," the LGA said in a statement. "Given the significant tax breaks being proposed to drive forward the development of shale gas and the impact drilling will have on local communities, these areas should not be short-changed by fracking schemes."

The central government has already announced measures aimed at encouraging companies to invest in British shale gas. Those include a cut in tax payable on any profits from shale gas - a separate tax from business rates - to 30 percent from 62 percent, confirmed by Chancellor George Osborne in December.

Geological studies show Britain has large scale shale reserves that could reverse a rising dependency on energy imports, but more drilling is needed to see whether the deposits are commercially viable. France's Total is set to become the first major oil company to invest in the industry in Britain when it commits 30 million pounds to drilling for shale gas in Lincolnishire, central England, sources told Reuters on Saturday.

Shale gas, which has helped transform the U.S. energy market, is gas trapped in dense rock formations. Three companies are leading the charge to develop Britain's shale gas resources: Australia's Dart Energy which is partnered with GDF Suez, London-listed IGas Energy and Cuadrilla, a privately owned business partnered with British utility Centrica. Britain will launch its latest licensing round to allow companies to explore for shale gas in early summer.




RPT-Dubai's Drydocks World signs $730 mln North Sea rig deal (Reuters.com) –

Drydocks World, the Dubai-based group which has undergone a multi-billion-dollar debt restructuring, said on Monday it had been commissioned to construct the largest rig ever built for the North Sea in a deal worth $730 million.

Left to Right, A representative of Drill One Capital Company and His Excellency Khamis Juma Buamim, Chairman of Drydocks World &

Maritime World during a signing ceremony of Building mega Jack up rig at Drydocks World in Dubai.

The order from a company called Drill One Capital - whose backers include GustoMSC, spun off in 2012 by SBM Offshore , and Petrolia - was part of a package of contracts which could be worth a total of $1.4 billion to Drydocks by the third quarter, its chairman, Khamis Juma Buamim, told a press conference.

The rig - a "jack-up" or self-elevating structure known as CJ-80 - will be the largest ever to be built for the North Sea, with completion set for 2017, Buamim said. Drydocks said it was designed to be operated in harsh environments including the Norwegian sector of the North Sea but gave no further detail on its likely deployment.

Drydocks agreed a restructuring plan worth $2.2 billion in 2012 having got into difficulty after taking on debt to fund its expansion into southeast Asia. The firm would continue to meet all repayments this year according to a plan agreed with creditors, Buamim said, although he ruled out the kind of early repayment which Nakheel, another Dubai state-linked entity which required a restructuring, has promised on its liabilities.

"We have a five-year plan and according to this plan and these dates, we are complying with that fully," Buamim said. "Our business, Nakheel's business and other businesses are all different and we work based on our business portfolio."

EUROPEAN OPPORTUNITIES

Drydocks World's earnings before interest, taxes, depreciation, and amortisation (EBITDA) reached around $110 million in 2013, around the same as in 2012. For 2014 and 2015, the level would be better, he said without offering specifics. Drydocks sees opportunities in the oil and gas and renewables sectors in Europe, with wind power in Germany an area of particular interest.

It was also looking to maximise opportunities closer to home, with Dubai providing between $20 million and $30 million of revenue a month, and from across the Gulf, if economic sanctions on Iran are lifted under a rapprochement with the West. "Our business with Iran never closed totally but we are looking forward to seeing positive things turn out of the political situation. It has a lot of potential and we hope to be their first choice," Buamim said.However, he was less keen on Turkey, in part because of recent political turmoil. "At one stage, there were discussions with some partners in Turkey but, unfortunately, the situation doesn't warrant that," Buamim said, noting: "It's the economic side, the potential risk and because our partners who we were talking to didn't satisfy us enough."




Enoc launches RFID-based fuel retail system

Emirates National Oil Company (Enoc) has activated a radio frequency identification (RFID)/vehicle identification (VID) based fuel retailing system at its and Emirates Petroleum Product Company (Eppco) service stations.

The service, which is aimed at providing a fully integrated refuelling service to customers, will initially be available only for commercial users and fleet owners, and will support the fuel self-service facility that has already been implemented across 25 Eppco service stations. The RFID-based modernised system uses radio-frequency to transfer data from each registered vehicle. It allows users to refuel according to the permitted amount and fuel type allocated for the vehicle, which will further enhance the efficiency of fleet owners in managing their fuel-related book-keeping operations. Vehicle Identification Pass (ViP), Enoc’s new system recognises the registered vehicle being fuelled up, and deducts/charges the cost from / to the registered user’s account without the help of a service attendant. It will be managed remotely through a secured database at Enoc linked to all the service stations, which will provide real time updates to customers on their refuelling operations. Saeed Khoory, CEO, said: “We are focused on continuously adopting the latest technologies to further enhance customer service standards and add to operational efficiency.” “The automation drive that is being implemented across our network will streamline the fundamental aspects of purchasing fuel, making it a safer and more convenient experience for our commercial customers and fleet owners. With our new electronic services for refuelling implemented across Enoc/Eppco service stations, customers now have the convenient option of ‘self-serve, fill and go.’” Corporate clients and commercial customers will be provided with secured electronic chip which will be installed on the top of the fuel tank gasket of their vehicles when they register for the service. The system, which was developed and backed by an experienced RFID/VID international vendor, will be installed and supported via a local partnership with AST Telecom, an enterprise supported by the Mohammed bin Rashid Establishment for SME Development. - TradeArabia News Service




Petronas Produces First Oil from KBM Cluster http://www.offshoreenergytoday.com/petronas-produces-first-oil-from-kbm-cluster/

The KBM Cluster, operated by Coastal Energy KBM Sdn Bhd, has been developed with JV partner Petra Energy under a Risk Service Contract (RSC) since June 2012. This is the third RSC that has successfully achieved oil production, after the Balai Cluster and Berantai Fields.

The KBM Cluster is an eight-year development project with Kapal being in its first development and production phase. The Kapal field facilities consist of one mobile offshore production unit (MOPU), one storage tanker with approximately 600,000 barrels capacity, one drilling rig with an attached well bay module and two flexible flow lines.

Through this mobile offshore production concept, Petronas plans to continue determining the potential production from the three KBM fields. The initial production rates from the cluster were over 10,000 barrels/day, with peak production reaching 13,000 barrels/day.

To date, PETRONAS has awarded 10 fields in four clusters under the RSC arrangement. Four fields have commenced production with a total of over 30,000 barrels of oil equivalent (boe) per day.

Omani (RAECO) to build power plant in Khasab Written by Oman Observer in Business , By Conrad Prabhu

The Rural Areas Electricity Company (RAECO) is preparing to ramp up investment in new diesel-based power generation

capacity to meet escalating electricity demand in areas that fall outside of Oman’s two principal electricity grids. In Musandam

Governorate, the state-owned utility is developing its biggest-ever diesel-based power plant at Khasab. At 80 megawatts (MW) of

generation capacity, it will surpass in size its 63MW diesel-fired power station in Duqm, which currently ranks among the largest

of its network of 45 electricity plants operating within its jurisdiction. Yesterday, RAECO floated a competitive tender for an

engineering-procurement-construction (EPC) contract linked to the establishment of a 56MW diesel-powered station on Masirah

Island in South Al Sharqiyah Governorate.

More than half a dozen local power engineering contractors are bidding for RAECO’s contract to execute the 80 MW diesel

power plant in Khasab on an EPC basis. Technical bids were opened recently and their evaluation is under way, according to

RAECO officials. This will be followed by the evaluation of the corresponding financial offers. A two-year timeframe has been

specified for the execution of the project upon the announcement of a contract award. Importantly, this project is quite distinct




from another power scheme planned at Tibat in the Wilayat of Bukha in Musandam Governorate. Envisaged at Tibat is a roughly

100 MW plant that will be powered by gas for the first time in the governorate. Natural gas as fuel for the Tibat plant will come

from a new integrated oil and gas processing plant (also known as the Musandam Gas Plant) currently under development by

Oman Oil Company’s upstream subsidiary, Oman Oil Company Exploration and Production (OOCEP). OOCEP is investing

around $600 million in an integrated processing plant with a capacity to treat 45 million standard cubic feet per day of gas and

20,000 barrels per day of crude oil. Korean engineering and construction giant Hyundai is building the gas plant on an EPC

contract.

The project is a key part of a raft of major infrastructure schemes being implemented by the government in this strategically

important Omani enclave in accordance with the Royal directives of His Majesty the Sultan. Around RO 500 million has been

earmarked towards a number of large-scale ventures — encompassing energy, power and water, road and maritime transportation,

and healthcare and education — during the current 8th Five Year Plan (2011-2015). The 132KV overhead transmission line will

start at Tibat, where the power plant is proposed to be located. It will travel around 18 kilometres to Khasab and extend a further

80 kilometres all the way to Daba. Also as part of the project, 132KV grid stations will be built at Tibat, Khasab and Daba. The

project’s substantial cost is attributable to the extremely rugged terrain through which the transmission line will run. A subsidiary

of the wholly government-owned Electricity Holding Company (EHC), RAECO undertakes the generation, distribution and

supply of electricity, as well as water desalination activities, in areas of the Sultanate that lie outside the Main Electricity System

(MlS) serving north Oman, and the Salalah Power System, covering Dhofar Governorate.

Its consumers, who have since swelled 12 per cent to over 25,375 customers, are distributed across Musandam Governorate, as

well Wusta, Masirah Island, and parts of Al Dakhiliyah, Al Dhahirah, Al Sharqiyah and Dhofar Governorates that are not served

by other distribution and supply utilities. All 45 power stations operated by RAECO within its licensed areas are diesel-

fired. (OEPPA Business Development Dept)

Musandam Oil & Gas Plant Project




Oil prices mixed in Asia trade Today - AFP

Oil prices were mixed in Asian trade Tuesday, weighed by the prospect of a return of Iranian supplies after a landmark deal to curb Tehran's disputed nuclear programme takes effect January 20. New York's main contract, West Texas Intermediate (WTI) for February delivery, was up one cent at $91.81 in mid-morning trade, while Brent North Sea crude for February eased seven cents at $106.68.

Under the deal initially reached in November, Iran agreed to curb parts of its nuclear drive for six months in exchange for receiving modest relief from international sanctions and a promise by the so-called P5+1 - Britain, China, France, Russia, the United States plus Germany - not to impose new sanctions against its hard-hit economy.

This will give both sides time to come up with a more comprehensive solution to the dispute. Tehran has been subject to painful international sanctions aimed at bringing to an end its nuclear programme, which the West claims is being used to develop atomic weapons. Iran vehemently denies the claims.

The Islamic republic, a member of the OPEC cartel, pumped 2.8 million barrels of crude in December, according to data from the US Energy Information Administration (EIA). "Investors are quite aware that prices will come under pressure if Iranian oil eventually returns to the market, but they also know that it will take a while for production to return," David Lennox, resource analyst at Fat Prophets in Sydney, told AFP.

Lennox said dealers were also keenly awaiting the latest official US stockpiles data to be released Wednesday for clues about demand in the world's biggest oil consumer amidst a record-breaking North American cold snap. "The extreme weather in the United States not only affects demand but has caused several supply disruptions as well," Lennox said.




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Your partner in Energy Service

Khaled Malallah Al Awadi, MSc. & BSc. Mechanical Engineering (HON), USA ASME member since 1995 Emarat member since 1990

Energy Services & Consultants Mobile : +97150-4822502

[email protected] [email protected]

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 ofofofof experience in theexperience in theexperience in theexperience in the Oil & Gas sector. Oil & Gas sector. Oil & Gas sector. Oil & Gas sector.

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external voluntary Energy consultation for the GCC area via Hawk Energy Service as a UAE operations base , Most external voluntary Energy consultation for the GCC area via Hawk Energy Service as a UAE operations base , Most external voluntary Energy consultation for the GCC area via Hawk Energy Service as a UAE operations base , Most 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 Operations Manager in Emarat , responsible for Emarat Gas Pipeline of the experience were spent as the Gas Operations Manager in Emarat , responsible for Emarat Gas Pipeline of the experience were spent as the Gas Operations Manager in Emarat , responsible for Emarat Gas Pipeline of the experience were spent as the Gas Operations Manager in Emarat , responsible for Emarat Gas Pipeline

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routes. Many years were spent drafting, & compiling gas transportation , operation & maintenance agreements routes. Many years were spent drafting, & compiling gas transportation , operation & maintenance agreements routes. Many years were spent drafting, & compiling gas transportation , operation & maintenance agreements routes. Many years were spent drafting, & compiling gas transportation , operation & maintenance agreements

along with many MOUs for the local authorities. He has become a referencealong with many MOUs for the local authorities. He has become a referencealong with many MOUs for the local authorities. He has become a referencealong with many MOUs for the local authorities. He has become a reference for many of the Oil & Gas Conferences for many of the Oil & Gas Conferences for many of the Oil & Gas Conferences for many of the Oil & Gas Conferences

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NewBase 14 January 2014 K. Al Awadi

new base special 14 january 2014

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