new base special 19 march 2014

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NewBase 19 March 2014 Khaled Al Awadi

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Abu Dhabi 2013 GDP grows 4.8% to Dh953.2bn: SCAD Crude oil, gas contribution drops 2% to 55% in 2013

By Wam + Emirates247

Abu Dhabi GDP is estimated to have grown 4.8 per cent to Dh953.24 billion in 2013 at current prices, the Statistics Center of Abu Dhabi (SCAD) announced on Monday during a press conference.

The Conference was attended by Nasser Dayan, Director of Economic Statistics Department, Dayan said important results and estimates reached by SCAD on economic developments in Abu Dhabi last year indicated that all economic activities and sectors, oil and non-oil, experienced growth. Dayan noted that the completion of these assessments before the end of the first quarter of 2014 was a great achievement for SCAD, compared to other statistical agencies and

centers around the world; as such estimates are usually released during the second half of the year. Five-fold increase

According to SCAD's data on national accounts statistics, GDP at current prices amounted to Dh909 billion in 2012 compared to Dh846.684 billion in 2011. Abu Dhabi GDP has grown five-fold since the beginning of the last decade from Dh185.7 billion 2001 to Dh953.24 billion last year. SCAD emphasised that the value added of extractive industries activity at current prices reached Dh518.861 billion in 2012 compared to Dh484.737 billion in 2011. The Center estimated the added value of extractive industries activity reached Dh523.899 billion in 2013, with a growth rate of 1 per cent. Non-oil GDP 2012 at current prices amounted to Dh390.860 billion, while in 2011 it had reached Dh361.948 billion. Non-oil GDP at current prices for 2013 was estimated to have reached Dh429.34 billion, achieving 10 per cent growth rate. The contribution of extractive industries activity (crude oil and natural gas) to GDP in 2012 at current prices amounted to 57 per cent compared to 57.3 per cent in 2011. However, SCAD estimated the contribution of extractive activity to GDP at current prices in 2013 to stand at 55 per cent; this drop in GDP dependence on extractive industries, confirms the success of the diversification policy of economic activities in non-oil GDP sectors.

The Conference was attended by Mr. Nasser Dayan, Director of Economic Statistics

Department, Dr. Mohammed Al Dhaheri, Director of Field Surveys, Ms. Shamma Al

Rumaithi, Director of National Accounts, and Mr. Osama Al Zugbi, Assistant Director

of Economic Statistics Department.




As for compensations of employees at current prices, which represent important information about workers' share of GDP, and reflect the size of the income received by workers in all economic activities in the

Emirate of Abu Dhabi, the results of SCAD economic surveys revealed that compensations grew by 10.8 per cent in 2012 to Dh166.68 billion compared to Dh150.427 billion in 2011. SCAD estimated compensations to reach Dh182.416 million in 2013 with a growth rate of 9.5 per cent. In 2012 workers' compensations constituted 18.3 per cent of total GDP at current prices. SCAD revealed that gross fixed capital formation at current prices, in 2012 amounted to Dh169.771 billion, while estimates for 2013 anticipated gross fixed capital formation to reach Dh193.9 billion, with a growth rate of 14.2 per cent. Contribution of economic activities to GDP SCAD announced during the press conference, the contribution of economic activities to GDP at current prices. The agriculture, forestry and fishing activity contribution to GDP in 2012 was 0.6 per cent, while estimates predicted the

contribution of the activity to GDP to be same in 2013. Manufacturing activity in 2012 contributed to GDP by 5.3 per cent, while estimates for 2013 predicted its contribution to increase to 5.7 per cent. Electricity, gas, water and waste management activities have contributed to GDP at current prices in 2012 by 2.4 per cent while estimates for 2013 expected the contribution to be around 2.5 per cent.The construction and building activity contribution to GDP in 2012 was 9.1 per cent. Estimates for 2013 predicted the activity to contribute to GDP by 9 per cent. The education sector's contribution to GDP at current prices stood at 1.2 per cent in 2012. Estimates predicted the same in 3013. Health and social work activities contributed to GDP by 0.9 per cent in 2012, while estimates for 2013 expected contribution to reach 1 per cent. SCAD said contribution of total non-oil activities to GDP at current prices in 2013 was estimated at 45 per cent, which is higher than their contribution of 43 per cent in 2012. These data confirm the strength and stability of the economy of the Emirate of Abu Dhabi, and also give Abu Dhabi a significant competitive advantage by enhancing its attractiveness to domestic and foreign investments. Growth rates

During the press conference, SCAD revealed the growth rates of GDP at current prices by economic activity, the most important of which was the estimated growth rate of manufacturing industries for 2013, predicted at 7.8 per cent, which is a significant expected growth, compared to 0.5 per cent in 2012. Accommodation and food services activities (hotels and restaurants) registered a growth rate of 2.22 per cent in 2012. SCAD estimated the activity growth in 2013 to be 11.62 per cent, and the information and communications activity to grow by 15.29 per cent in 2013, after a negative growth of (-3.11 per cent), in 2012, which is quite an achievement for this sector.




Morocco: Chariot Oil & Gas announces award of Mohammedia Reconnaissance Source: Chariot Oil & Gas

Chariot Oil & Gas, the Atlantic margins focused oil and gas exploration company, has announced that its wholly owned subsidiary, Chariot Oil & Gas Investments (Morocco), has been awarded a 75% interest and operatorship of the Mohammedia Reconnaissance Licence offshore Morocco in partnership with the Office

National des Hydrocarbures et des Mines ('ONHYM') which holds a 25% carried interest. This licence area is adjacent to the Company's Loukos and Rabat Deep licences and sits in the near shore. It covers an area of approx. 4,600km2 with water depths less than 500m. The award remains subject to final approval from the relevant authorities.

As detailed in November 2013, following the reprocessing and interpretation of extensive legacy 2D data on the Loukos licence, Chariot identified a significant Mio-Pliocene lead. This lead extends into Mohammedia and as a result the Company decided to relinquish those parts of the Loukos licence that it believed did not encompass this prospectivity and to request the award of the Mohammedia Reconnaissance Licence. In addition to the extension of the Mio-Pliocene lead from Loukos, Chariot has also identified a possible extension of the Jurassic shelf edge play from the Rabat Deep area into Mohammedia, which will be investigated further through seismic data acquisition. This will ensure that Chariot and ONHYM are able to capture all of the potential identified within this

region and maximise the Company's information and understanding of its Moroccan portfolio.

The Company has contracted Dolphin Geophysical to carry out a single 3D seismic programme of approx. 1,700 km2 across all three of its Moroccan licence areas using the Sanco Swift vessel, due to commence early April 2014. Instead of shooting two separate campaigns across the regions of interest, as previously announced, the survey will comprise ~1,075km2 in Rabat Deep, ~250km2 in Loukos Offshore and ~375km2 in Mohammedia Reconnaissance. The objective of the combined survey is to mature drillable prospects in the Mio-Pliocene and Jurassic plays.

In carrying out this 3D seismic acquisition the Company will have completed all of its commitments in each of its Moroccan licences during their current periods of exploration, including that of the Mohammedia Reconnaissance Licence. This means that, once the 3D programme is complete, the Company will be able to enter into a full exploration permit with ONHYM for the Mohammedia area.

Following governmental approval of the Mohammedia Reconnaissance Licence award and the Company's application to enter into the First Renewal Phase in Loukos (as detailed in November 2013), Chariot will hold ~1,155km2 in the Loukos licence, with its total offshore Morocco acreage standing at just over 16,500km2.

Larry Bottomley, CEO commented:

'We would like to thank ONHYM and the Ministry for their cooperation in securing this licence. Our 3D seismic campaign will provide valuable information for further developing the potential in our Moroccan acreage, which, in the long term, will allow us to mature targets for drilling with a partner.'




Madagascar Oil announces operational development for Tsimiroro field Source: Madagascar Oil

Madagascar Oil has provided an update on its operations and latest Tsimiroro field development planning activities.

The Tsimiroro oil field, the Company's flagship asset, is a giant heavy oil field in western Madagascar with independently audited contingent resources of 1.7 billion barrels (P50) Stock Tank Oil Originally In Place (STOOIP). The objective of the ongoing Steam Flood Pilot (SFP) is to deliver the required data to support a decision on field commerciality. The Company is working towards the submission of a Field Declaration of Commerciality (DOC) and a Full Field Development Plan (FFDP), under the terms of the Production Sharing Contract (PSC), the latter will be subject to Madagascar Governmental and our partner, OMNIS (L'Office des Mines Nationales et des Industries Strategiques), approvals.

Highlights:

• Oil production rates have increased

month on month averaging 425 Barrels of Oil

Per Day (“BOPD”) in February, compared to

330 BOPD in January and 222 BOPD in

December 2013.

• Cumulative oil produced from the

SFP, which commenced production on 28

April 2013, was 63,436 barrels on 16 March 2014, with 35,180 barrels being stored in the Tsimiroro Field

Storage tanks.

• Recent trials have demonstrated that the steam generators will run effectively on 100% Tsimiroro crude.

• Independent confirmation has been received over the capability of Tsimiroro crude to meet feed-stock

specifications for Madagascar power generation plants, following successful third party blending trials with

gasoil (diesel).

• Plans are progressing for six months continuous test sales of the Tsimiroro crude in 2014, to meet local

Madagascar power generation specifications and other local industrial energy needs.

• Trucking routes for early transportation of crude to the local market have been assessed with road upgrade

options for volume traffic being studied.

• The new Tsimiroro Full Field interpretation is nearing completion that will provide updated STOOIP figures

for the field.

• The Company will consider, at the end of this quarter or during the course of the second quarter of 2014,

whether there is sufficient information from the SFP results and the development planning work carried out

to date to enable it to make a decision on proceeding with a commerciality declaration or whether further

information is required.




Stewart Ahmed, Chief Operating Officer & Madagascar General Manager, commented:

'We are encouraged by the recent results from the Steam Flood Pilot, which point to the positive response of the reservoir to thermal recovery techniques and the prospect of commercial viability of a Tsimiroro Full

Field Development. We have already passed some significant milestones in 2014, including the commissioning of the third steam generator, completion of trials demonstrating the ability for the steam generators to run on 100% Tsimiroro crude, passing 60,000 Barrels total oil production and continuing our zero Lost Time Incident record from 2013. Legacy well completion issues have resulted in three wells being shut-in due to shallow casing leaks, however this has not detracted from the positive thermal responses of the SFP wells and from the reservoir. We are working towards the goal of a commercial Tsimiroro development and will continue

to work closely with the Madagascar authorities and OMNIS as we prepare to move towards the Full Field Development Plan submission later in 2014.'

Block 3104 Tsimiroro : Following the 2010 work, Netherland Sewell Associates, Inc. reevaluated the Tsimiroro oil

volumes. Based on the new assessment, the Best Estimate volumes for Contingent and Prospective have doubled and the Low and High Estimates have tripled from the prior 2009 analysis. The 2011 Contingent Best Estimate is now 1.7 billion barrels and the Prospective Best Estimate exceeds 2.1 billion barrels of Original-Oil-in-Place

Block 3102 Bemolanga: is located approximately 170 km from the west coast of Madagascar. The field has had over 400 core holes drilled in the 0 to 200 meter depth in the Amboloando formation prior to Madagascar Oil operations, which have proven a bitumen deposit of 10 degree API oil is present. Madagascar Oil began further investigation in 2006 and Total E&P joined the project in 2008 as a 60% partner and become the operator. An aggressive schedule of drilling in 2009 and 2010 analyzed 160 additional core wells to further quantify the amount of recoverable reserves; and assess the efficiency and economics for ore extraction and recovery




Ghana: Gondwana Oil selected to negotiate Offshore Cape Three Points South Block Source: Gondwana Oil

Gondwana Oil Corp has announced that after review of its application on the Offshore Cape Three Points

South Block, Ghana's Ministry of Energy and Petroleum has invited Gondwana's 70% owned Ghanaian subsidiary, Miura Petroleum, to negotiate exclusively on the Block. The Block is surrounded by 20

discoveries, including the world-class 2 billion barrel Jubilee

light-oil field, currently producing in excess of 110,000 barrels of oil per day. Since 2010, exploration and development drilling offshore Ghana has achieved an unprecedented 72% exploration success rate, and 63% commercial success rate. Gondwana has been working diligently towards this goal and believes that the Offshore Cape Three Points South Block, in the Tano Basin only 30kms from Jubilee, is one of the most

important and prospective blocks in the prolific West African Transform Margin, which has been home to great exploration success and attracted multiple energy majors. The company and its strong and experienced technical team, as well as its local partners, look forward to rapidly commencing exclusive negotiations in Ghana.

Ghana Analysis Note

• After discovering the Jubilee oil field in 2007, Ghana's energy sector has expanded considerably. The field

came online in 2010, and production in Ghana has since jumped from 7,000 barrels per day (bbl/d) in 2009

to 78,000 bbl/d in 2011, and 80,000 bbl/d in 2012. Tullow, the field's operator, experienced technical

problems at the field that caused production to fall well below output goals in 2012.

• Proved crude oil reserves are 660 million barrels, as of January 1, 2013. However, given recent discoveries

and further oil exploration, proved reserves are expected to rise.

• Ghana has about 800 billion cubic feet (Bcf) of proved natural gas reserves, although the country does not

currently produce dry natural gas. Ghana plans to build a natural gas pipeline to pipe associated gas at oil

fields, which is currently flared and reinjected. Ghana imported 29 Bcf of natural gas in 2011, mostly from

Nigeria. Some of those imports came via the West African Gas Pipeline (WAGP), which runs east to west

from Nigeria to Ghana.

• The Ghanaian government passed the Petroleum Revenue Act in 2011, which outlines clear mechanisms for

collecting and distributing petroleum revenue and mandates a certain percentage to help fund the national

budget. Ghana's state-owned company, the Ghana national Petroleum Company (GNPC), was established in

1983 to oversee exploration, development, production, and disposal of petroleum. GNPC owns a small

minority share in the Jubilee oil field.

• Most Ghanaians rely on biomass sources, particularly wood fuels and charcoal, for household needs. Government

statistics place consumption of biomass fuels at slightly more than 60 percent of total energy consumption in Ghana.

However, as part of the Ghana Shared Growth and Development Agenda, Ghana would like to reduce reliance on wood

fuels and charcoal by expanding access to the national electric grid and developing oil and gas resources.

• Ghana relies heavily on hydroelectricity, which accounts for 85 percent of electricity generation. But past droughts

have disrupted supplies, and the country hopes to increase electricity generation from natural gas.




Russia's Lukoil eyes new gas deal in Saudi Empty Quarter By Reuters

Russia's Lukoil is negotiating a deal with the world's top oil exporter Saudi Arabia to tap unconventional gas deposits in the kingdom's Empty Quarter desert region, the company's overseas unit said.

Saudi Arabia has kept its vast oil reserves off-limits to foreigners, but needs natural gas to help cover domestic power demand and conserve oil for export. It invited investors a decade ago to find and produce gas in the Empty Quarter region in Saudi Arabia's southeast, also known as Rub Al Khali.

But foreign companies which formed joint ventures with state oil firm Saudi Aramco to look for conventional gas, including Lukoil, Royal Dutch Shell and Sinopec, have failed to find commercially viable deposits beneath the sea of sand dunes. So Saudi authorities are now seeking to focus the search on unconventional deposits - very deep, high-temperature reservoirs that would require more complex and expensive technologies to exploit.

"The assumptions of the initial gas exploration agreements do not exist anymore because in spite of a decade of exploration, no commercial gas discoveries have been made," said Sadad al-Husseini, a former senior executive at Saudi Aramco. "Therefore the exploration programme could be redefined as a change to unconventional gas exploration with higher costs and new buy-back terms," said Husseini, who now owns an energy consultancy firm said.

Lukoil is still on the hunt for desert gas and is now evaluating the possibility of production from an unconventional deposit. "This is tight gas. The negotiations are under way. No details on deal and future production plans yet," said a spokesman for Lukoil Overseas, which operates the group's foreign upstream projects. "Yes, we are hopeful and will continue evaluating drilling after signing a deal," he said.




Because such production would be more expensive than conventional output, the firm is trying to negotiate a higher price with Saudi authorities in its joint venture, industry sources said. The sources said no deal had yet been reached as further studies needed to be carried out by Lukoil and Saudi Aramco to estimate how much unconventional gas was available.

Saudi Aramco and the Saudi oil ministry were not immediately available to comment. Husseini said: "At this time there isn't enough data to determine how much gas may be recoverable, what levels of production can be achieved, and what levels of expenditures are likely to be required." "It appears that the decision-makers may now be thinking that since there are source rocks in the region, there may be some formations where fracking can be successful in generating unconventional gas production," he added.

The higher cost of extracting unconventional gas was not the only obstacle to production - scaling up and sustaining unconventional gas operations at a meaningful level of supply would also present major technical challenges, Husseini said. Shell told Reuters it was not currently drilling in its Rub Al Khali venture but said it was in regular dialogue with Saudi officials, without elaborating.

An industry source familiar with the matter said China's Sinopec had suspended drilling operations in the Empty Quarter. A Sinopec spokesman could not be reached for comment. Saudi Oil Minister Ali al-Naimi has estimated that the kingdom has over 600 trillion cubic feet of unconventional gas reserves, more than double its proven conventional reserves. Saudi Aramco has embarked on an unconventional gas programme and has made appraisals and drilled in a few areas.




UN says oil and gas field in Sea of Okhotsk belongs to Russia http://www.oilandgaseurasia.com/en/news/un-says-oil-and-gas-field-sea-okhotsk-belongs-russia

The UN commission for continental shelf has ruled that a 52,000-sq.km field in the central part of the Sea of Okhotsk shall belong to Russia, RBC has reported.

This is a formality as the area, which contains oil and gas deposits, officially became part of Russia in November 2013. Experts say oil and gas could be found in 40% of the area. Oil reserves on the shelf near Magadan may reach 3bn barrels. The Magadan-2 and Magadan-3 blocks were explored last summer, and findings are now being analyzed at laboratories.

Rosneft with both establish joint venture companies, and INPEX will hold a 33.33 percent stake in the oil and gas blocks. The agreement was signed by Rosneft President Igor Sechin and Toshiaki Kitamura, President and CEO of INPEX. “Partnership between Rosneft and INPEX will contribute significantly not only to the development of the Russian Far East, but also to the development of economic relations between Russia and Japan, and will strengthen energy security of our partners,” Sechin said in Rosneft’s press release on their website.

The venture will explore the Magadan-2 and Magadan-3 offshore blocks near Magadan, a city first used as a Gulag in Soviet times and now an isolated port city with a steadily declining population.

The blocks, located in the northern part of the Sea of Okhotsk, have a depth of 120 meters to 180 meters, and are estimated to contain roughly 1,577 million metric tons of oil, the Rosneft statement said. Exploration will begin in 2017 and drilling is expected to start in in the mid-2020s. Initial costs will be footed by Japan Oil, Gas and Metals National Corp, which will subsidize 50 to 57 percent of explorations costs. The Japan Bank for International Cooperation is also expected to contribute to funding.

INPEX spokesman Kaisuke Yano said the company was not the source of the report, Bloomberg reported. The agreement is timely for Japan, which has been in an energy pinch ever since the Fukushima crisis wreaked havoc on Japan’s nuclear power industry. Japan is heavily dependent on gas imports and consumes over 100 billion cubic meters a year while only producing 4 billion domestically. Since the Fukushima disaster in 2011, Japan has had an increasing demand for alternative heating, especially gas. Presently, Japan imports gas from the Middle East.




Foster Wheeler, Kentz win Majnoon works Reuters/Scanpix

Foster Wheeler and Kentz have been awarded two-year framework contracts by Anglo-Dutch supermajor Shell for engineering, procurement and related services at the Majnoon oilfield development in Iraq. The scope will include concept selection, front-end engineering design, detailed design and contract and procurement services at the giant field around 70 kilometres north of Basra City in southern Iraq.

The works are to be carried out primarily by the two companies’ Dubai-based 50/50 joint venture Foster Wheeler Kentz Energy Services DMCC, supported by the companies themselves. The contracts are to run for two years, with an option to extend for an additional year, and will provide a framework for a number of packages, covering new facilities and rehabilitation or upgrade of existing facilities.

Shell and Petronas are developing the field under a 20-year service contract signed with Baghdad in 2009. The field is estimated by the Iraqi government to hold around 38 billion barrels of oil in place. Shell is the lead operator with a 45% stake, while Petronas holds 30% and the Iraqi South Oil Company the remaining 25%.




$6.5bn Al Karaana petchem project eyes Asian markets By Santhosh V Perumal/Business Reporter Gulf Times

The new Al Karaana petrochemicals project - a 80:20 joint venture of Qatar Petroleum and Shell - is eyeing Asian markets to a great extent for its 2mn tonnes-per-year products

The estimated $6.5bn project, which is now in the midst of FEED phase, will now embark on the next stage of engineering, procurement and construction (EPC) and is considering a mix of conventional bank loans and Islamic financing, its CEO designate Stijn van Els told media on the sidelines of a project conference organised by MEED. In March last year, Qatar had awarded front-end engineering and design (FEED) contract for the plant to Fluor, a global engineering construction company. The project is slated for completion by 2018. Upon commissioning, the project is expected to

contribute an additional 25% to Qatar’s petrochemicals production capacity. In December 2010, QP and Shell had signed a memorandum of understanding to jointly study the development of a major petrochemicals complex in Ras Laffan. One year later, both signed a heads of agreement setting the scope and commercial principles for project development. Al-Karaana, which takes its name from an ancient Qatari village and refers to a “water well”, comprise a steam cracker, a mono ethylene glycol plant, a linear alpha olefin unit and an oxo alcohol unit.

The total production capacity would be 2mn tonnes per year of petrochemicals, Els said, adding the project has been designed to have a total of 1.5mn tonnes of mono ethylene glycol, 300mn tonnes of linear alpha olefin and another 250mn tonnes of oxo alcohol.

The steam cracker at the petrochemical complex would have feedstock coming from natural gas projects in Qatar. “We will be fully integrating with the other projects,” he said. Both the mono-ethylene glycol plant, the world’s largest of its kind, and linear alpha olefin unit would use Shell’s proprietary MEGA and higher olefins process technologies respectively; whereas oxo alcohol uses Mitsubishi Chemical Corp’s OXO T-Process technology.

Asked about the markets, he said most of the products would be exported and some domestically consumed. “The main exports markets will be Asia. We are working very closely with Muntajat to define the optimum market mix as we go about,” Els said. Muntajat, which recently decided to set up its international marketing company at The Hague in The Netherlands, has now entered a new phase of expansion with it currently implementing its supply chain programme and building a global network of offices and warehouses.

Ras Laffan Complex – Ariel View




First Solar, Shams Ma’an Consortium Secure 20-Year PPA for 52MW Jordan Project http://www.businesswire.com/news/

First Solar, Inc. and Shams Ma’an Power Generation today announced the signing of a Power Purchase Agreement (PPA) for a planned 52.5 megawatt (MWAC) solar power plant in the Hashemite Kingdom of Jordan. The PPA was signed with the National Electric Power Company (NEPCO), the country’s regulatory authority for power generation and distribution, and is valid for 20 years.

Shams Ma’an Power Generation PSC – which counts First Solar GmbH as a shareholder - was established to pursue solar energy opportunities in the country. In addition to supplying its advanced thin film photovoltaic (PV) solar modules, First Solar will also provide Engineering, Procurement and Construction (EPC), and Operations and Maintenance (O&M) services for the project.

“The Shams Ma’an solar power plant represents the future of Jordan’s energy independence. By bringing together industry-leading capabilities, international financing and advanced thin film technology that is

ideally suited to local conditions, we will establish a regional benchmark for the independent production of power,” said Hanna Zaghloul, Chief Executive Officer of Shams Ma’an. “There is no doubt that adding PV capacity to the country’s energy generation portfolio offers Jordan and its people a winning value proposition.”

The power plant - which will be the largest facility of its kind in Jordan, representing one percent of the country’s overall generation capacity – will supply 160 million kilowatt hours (kWh) of electricity per year, sufficient to power over 35,000 average homes in the country. The project, which is part of the ambitious Ma’an Development Area (MDA) initiative in southern Jordan, will generate an estimated 500 jobs during its construction. Additionally, the plant will also help the country reduce its carbon footprint by displacing

approximately 90,000 metric tons of Carbon Dioxide (CO2) per year, equivalent to removing about 20,000 cars from its roads.




“This agreement marks a significant step towards fulfilling Jordan’s energy security goals. By efficiently harnessing the country’s most abundant energy resource, Shams Ma’an will help power sustainable growth and development with clean, affordable and reliable solar electricity,” said Ahmed S. Nada, Vice President of Business Development for First Solar in the Middle East.

A vertically integrated solar energy company, First Solar recently set a new world record for cadmium-telluride (CdTe) PV solar cell conversion efficiency, which has been certified at the Newport Corporation's Technology and Applications Center (TAC) PV Lab and confirmed by the U.S. Department of Energy's National Renewable Energy Laboratory (NREL). The new research cell conversion efficiency – 20.4 percent in laboratory conditions - matches the research cell efficiency record of multicrystalline silicon, another technology used in the PV solar market.

With a pipeline of over 3 Gigawatts (GW) of contracted solar power plants and over 8GW installed worldwide, the collective capacity of the company’s modules is approximately the same as eight nuclear power plants. First Solar’s commercial footprint spans six continents, including Africa, with manufacturing facilities in the US and Malaysia.

About First Solar, Inc.

First Solar is a leading global provider of comprehensive photovoltaic (PV) solar systems which use its advanced thin-film modules. The company’s integrated power plant solutions deliver an economically attractive alternative to fossil-fuel electricity generation today. From raw material sourcing through end-of-life module recycling, First Solar’s renewable energy systems protect and enhance the environment. For more information about First Solar, please visit www.firstsolar.com.




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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

[email protected] [email protected]

Khaled Al Awadi is a UAE National with a total of 24 yeaKhaled Al Awadi is a UAE National with a total of 24 yeaKhaled Al Awadi is a UAE National with a total of 24 yeaKhaled Al Awadi is a UAE National with a total of 24 yearsrsrsrs of experience in theof experience in theof experience in theof experience in the Oil & Gas sector. Currently working as Oil & Gas sector. Currently working as Oil & Gas sector. Currently working as Oil & Gas sector. Currently working as

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NewBase 19 March 2014 K. Al Awadi

new base special 19 march 2014

Economy & Finance