numero 1_agosto(3)
TRANSCRIPT
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Iran to shelve key LNG project
Iran is abandoning a project to produce liqueed natural
gas (LNG) as part of a policy review that will see Tehran focusing
more on exporting gas through pipelines.
China raises E&P efforts overseas, at
home
Chinese oil and gas companies have stepped up their
offshore E&P efforts abroad. China seeks to secure additional
energy.
Japanese tanker was target of attack
The attack occurred in the Strait of Hormuz and it was
an unsuccessful terrorist attack. The explosion forced the tanker to
return to the United Arab Emirates with its load of oil.
A SIA
Iran wants to avoid depending on its neighbours.
Corruption threatens Uganda
oil revenue
Corruption will swallow billions in revenue
from the oil industry that is needed to build schools,
hospitals and roads, says Olara Otonnu, a Ugandan
opposition leader. He said that there had been no
transparency on plans to develop the oil found in
2006.
ExxonMobile ends cleanup
work in NigeriaExxon has completed the cleanup work
for the spill from an offshore platform in Nigeria’s
southern coast.
Algeria invites Indian rms to
gas pipe project
Indian companies are invited by Algeria
to participate in the $10 billion Trans-Saharan gas
pipeline project.
A FRICA
ORDONS NEWS MAGAZINE 3
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A MERICA
The Original Oil SinEntradilla del reportaje
Deepwater Horiz
explosi
The oil rig explod
on April 20 offsho
Louisian
Texto del reportaje
Welcome Dudley, goodbye Hayward
BP gest record ne for 2005 blast
Ecopetrol eyes $4,2 billion for oil pipeline
Oil, gas and Canada-Colombia Free Trade
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Mr Hayward is standing down on
October 1 after heavy criticism over
his handling of the catastrophic Gulf
of Mexico oil leak. The terms of
the scheme stipulate members can
begin receiving their payouts oncethey have passed 55 years of age.
Mr Hayward is 53 and has worked
for BP for 28 years.
Mr Hayward is leaving his job
by mutual consent and the BP
board is believed to be ready to
honour the terms of his contract,
according to the BBC. Under its
terms, Mr Hayward is also entitled
to “current salary and benets” on
his departure, which would be atleast £1.04 million.
Mr Hayward will start to receive
money from his pension pot, which
has reached £11m, when he leaves
his post at the beginning of October
to become a non-executive of BP’s
joint venture in Russia, TNK-BP.
Mr Hayward faced heavy
criticism for his handling of the
spill after saying the environmental
impact would be “very, very
modest” and “I want my life back”.
Following Mr Hayward’s comment
on the crisis, President Obama said:
“He wouldn’t be working for me
after any of those statements.”
Bob Dudley
The man who replaced Mr
Hayward as the leader of BP’s
response to the Deepwater Horizon
crisis, Bob Dudley, will become the
company’s new chief executive.
Mr Dudley would become the
rst non-British BP chief executive.
An American who has been with
BP since it bought Amoco in 1998,
faces many challenges, such asrepairing damaged relations with
federal and state authorities, dealing
with the spill’s cost and legal
consequences and bolstering morale
among BP employees. Mr Dudley
has overseen an improvement in
BP’s fortunes during the Gulf of
Mexico crisis. The company has
stopped oil seeping from the seabed
and is close to completing a relief
well that should seal off the leak.
Welcome Dudley, goodbyeHaywardThe CEO of BP, Tony Hayward will step down at the start of
October. His replacement will be American Robert Dudley, who
will be based in London.
AMERICA
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The US Occupational Safety and
Health Administration (OSHA) said
it was still working to collect another
30 million US dollars (£19.3 million)
for other penalties the company is
contesting.
The ne is the largest penalty
issued in OSHA’s history, and US
Secretary of Labor Hilda L. Solis said
the size of the penalty reected BP’s
“disregard for workplace safety”.She said: “This agreement
achieves our goal of protecting
workers at the renery and ensuring
that critical safety upgrades are made
as quickly as possible. The size of
the penalty rightly reects BP’s
disregard for workplace safety and
shows that we will enforce the law
so workers can return home safe at
the end of their day.”
In addition to paying the ne,BP Products North America Inc.
has agreed to take immediate steps
to protect those now working at
the renery, allocating a minimum
of 500 million US dollars (£321
million) to this effort.
Under the arrangement, BP will
immediately begin safety reviews
of its renery equipment and will
make permanent corrections, the US
Department of Labor said.
The deal also provides an
unprecedented level of oversight of
the company’s safety programme,including regular meetings with
OSHA, which is part of the
Department of Labour, frequent site
inspections and the submission of
quarterly reports.
After a lengthy legal battle
which has rumbled on since 2005,
OSHA and BP have agreed to settle
the matter and to focus on moving
forward collaboratively in order to
continue to improve plant safety, aBP spokesman said.
Iain Conn, BP’s global head of
rening and marketing, said: “We
respect OSHA’s concerns and haveaddressed them in this agreement.
BP has a stated goal to become a
leader in process safety and we look
forward to working collaboratively
with OSHA to achieve an injury-free
workplace in our operations.”
The Texas City blast was the
deadliest accident in the nation’s
gas and chemical industry since an
explosion at an Arco Chemical plant
in nearby Channelview killed 17 people in 1990.
BP gets record ne for 2005 blast
AMERICA
UNITED STATES. Beleaguered oil giant BP has agreed to pay a record 50.6 million US dollar
(£32.5 million) ne for safety failings at its Texas City oil renery after a 2005 explosion which
killed 15 workers.
Tony Hayward, BP CEO until October.
UNITED STATES. BP announced
on August 10 that it has established
a trust and made a $3 billion
initial deposit of the previously-
announced $20 billion escrow
account to pay legitimate claims
arising from the Deepwater
Horizon incident and the resulting
oil and gas spill. “The purpose of
the escrow account was to assure
those adversely affected by the
spill that we indeed intend to stand
behind our commitment to them
and to the American taxpayers,”
said Bob Dudley, CEO of BP’s Gulf
Coast Restoration Organization.
“Establishing this trust and
making the initial deposit ahead of
schedule further demonstrates our
commitment to making it right in
the Gulf Coast.”
BP forms Gulf of Mexico oil spill escrow trust
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At a glance...
US drilling climbs by 19 rigsUNITED STATES. US drilling
activity continued to increase,
with 19 additional rotary rigs for a
total 1,605 working in the second
week of August, up from 966
in the comparable period a year
ago, Baker Hughes Inc. reported.
Land operations led the count, of
course, up 20 rigs to 1,576 drilling.
Offshore drilling increased by 1 rig
to 17 making hole, all in the Gulf
of Mexico. However, inland waters
activity dropped by 2 rigs to 17.
Of the US rigs working, 983
were drilling for natural gas, an
increase of 11 from the previous
week. The number drilling for oil
was up by 8 to 611. There were 11
rotary rigs unclassied. Horizontal
drilling increased by 25 units to 878.
Directional drilling added 1 rig for
a total 221. Texas had the biggest
increase, a jump of 16 rotary rigs to
691 drilling.
American Petro-Hunter to drill at North Oklahoma ProjectUNITED STATES. American Petro-
Hunter announced that they are
nalizing plans to drill a horizontal
oil well on the North Oklahoma
Project leases located in Payne
County, Oklahoma.
The new well is designated
NO4H and planned as a minimum
2,000 foot horizontal exploiting the
productive shale horizon intersected
in previous drilling. The company
has reviewed the engineering
package and concurs with third
party estimates that the production
potential of a successful horizontal
well at the North Oklahoma Project
could be between 1,000 and 1,200
barrels per day of light.
Currently all efforts at the Project
to prove the presence of a large
shale reserve have been positive.
Preliminary operations and initial
drill testing of the potential have
been successful to date.
Apache acquires BP’s Permian Basin assets for $3.1BUNITED STATES. Apache hasacquired BP’s oil and gas operations,
acreage and infrastructure in the
Permian Basin of West Texas and
New Mexico. Apache acquired 10
Permian eld areas with estimated
proved reserves of 141 million boe
(65 percent liquids), rst-half 2010
net production of 15,110 barrels of liquids and 81 MMcf of gas per day,
and two operated gas processing
plants. The transaction also included
1.7 million gross acres – including
405,000 net mineral and fee acres
– in prospective areas of the basin
with substantial opportunities for
new drilling.Apache paid $3.1 billion for the
Permian properties, including a
$1.5 billion deposit paid July 30 and
the balance paid on closing. BP will
continue to operate the properties on
Apache’s behalf through November
30.
Siemens to strengthen wind business in North AmericaUNITED STATES. Siemens
Energy is to supply wind turbines
with a combined capacity of 227
megawatts (MW) for a wind farm
located in Oklahoma.
The order placed by the
utility Oklahoma Gas & Electric
encompasses 98 wind turbines
and also includes the rst delivery
of three machines from the new
generation of direct drive wind
turbines.
In Canada, the company has
signed a framework agreement
with Samsung C&T Corporation
for the supply of wind turbines
with a combined capacity of 600
MW, which is sufcient to supply
240,000 Canadian households with
ecofriendly electricity. The turbines
are destined for various projects
in Ontario. Also, Siemens wants
to invest in setting up a new rotor
blade manufacturing facility.
AMERICA
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The age of petroleum is coming to an end.The future is dangerously insecure.
Find out how the world economy is moving towardsan uneasy transition.
“Out of Gas, The End of the Age of Oil”, David Goodstein
DO YOUWANNA
READ IT??
Discover Ordons News
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Empyrean has been advised
by the operator that a fracturestimulation program is to be
carried out on sections of Saratoga
formation in the vertical section of
the well. The stimulation program
is due to commence in the next
few days and an update will be
provided as soon as results are
known.
Cartwright-1H well
Empyrean has been advised by
the operator that drilling at the
Cartwright-1H well has reached
a measured depth of 13,969
feet following the setting and
cementing of intermediate 7 5/8”
pipe to 13,953 feet.
Gas shows have been
encountered while drilling and the
plan is to complete the pilot section
of hole before drilling laterally inthe target formation. Work has
also commenced on connecting
the ow line from the Cartwright-
1H well to the sales point. A
further update will be provided as
signicant information comes to
hand.
Empyrean Energy announced
on the 1 June 2009 that it had
entered into a Participating
Agreement with Krescent EnergyPartners11, LP of Houston Texas
(“Krescent”) to acquire a 10%
working interest in Krescent’s
Riverbend Project.
The project has a mean
estimated potential of 80 billion
cubic feet of gas equivalent.
The project targets primarily
the Austin Chalk and Saratoga
formations.
AMERICA
ORDONS NEWS MAGAZINE 9
UPI
Cleanup costs for the Michigan
oil spill could reach as high as $400
million, Enbridge Energy Partners
said. A branch of the Lakehead oil
pipeline network, which is operated by Enbridge, ruptured July 26
in southern Michigan, dumping
about 20,000 barrels of oil into the
Talmadge Creek and Kalamazoo
River.
In a ling with the U.S. Securities
and Exchange Commission
released Tuesday, the company
said the charges would include the
emergency response, environmental
remediation and cleanup activities
associated with the crude oil release,
costs to repair the pipeline and related
inspection costs, potential claims by
third parties and lost revenue.
Enbridge said direct costs to
the company would be between$35 million and $45 million, not
including nes and penalties. An
analyst with FirstEnergy Capital
Corp. told the Calgary Herald that
insurance should cover 90 percent of
the charges.
Enbridge said it expects its cash
ows to be affected until early 2011
by the lag time between covering the
cleanup costs and the payback from
insurance.
Michigan spill could costUSD400 million
Michigan oil spill.
Enbridge Inc. plans to increase its
oil shipping capacity from western
North Dakota by about 145,000
barrels daily by building several new
pipelines and pumping stations in the
next three years, company and state
ofcials said. Enbridge currently
can ship about 161,500 barrels of oil
daily from western North Dakota’s
Bakken and Three Forks shale rock
formations.
The company said on 24 August
its planned capacity expansion of
145,000 barrels could be raised later
to 325,000 barrels daily at relatively
low cost.
Gas showsencountered atTexas Riverbend project
Project will double ND oil pipeline capacity
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REUTERS
Colombia’s state-run Ecopetrol
oil company said on August 19 that
it planned to invest $4.2 billion
in building a new oil pipeline and
upgrading infrastructure at Covenas
port. Colombia, Latin America’s No.
4 oil producer, has seen a rise in oil
and mining investment since 2002
when the government launched a
U.S.-backed offensive against rebelsopening up areas of the nation once
under guerrilla control.
Ecopetrol, listed in New York and
Bogota, said it had created a new
company to take charge of the 960-km
pipeline project, which will later be
opened up to other oil producers.
The pipeline will run from the
Llanos Orientales, where a major part
of Colombia’s oil is extracted, to the
Caribbean port of Covenas. It will be
built in three phases.
The rst phase -- with a capacity
of 450,000 barrels per day -- will start
in October and should be completed
by December 2012, an ofcial at thecompany said.
The rst phase and port upgrades
will cost about $1 billion, Ecopetrol
said. The company expects to invest a
total of $4.2 billion in the three-phase
project.
Colombia’s Ecopetrol eyes$4.2 bln for oil pipeline
South & Central America
BRIEFS
Repsol discovers a newgas deposit in BoliviaRepsol has made a new gas
discovery in the RGD 22 well in
Bolivia, successfully completing a
project to deepen existing wells to
increase hydrocarbon production
in that country. The RGD 22
well is located in the Rio Grande
contract area.
OGX identieshydrocarbons in CamposBasin block OGX has identied the presence
of hydrocarbons in the Albian
and Santonian sections of well
1-OGX-18-RJS, located in the
BM-C-40 block, in the shallow
waters of the Campos Basin. OGX
holds a 100% working interest in
this block.
Jamaica to obtainFloating LNG TerminalA consortium formed by
Colombian Promigas and Exmar
was selected by state-owned
energy company Petroleum
Corporation of Jamaica (PCJ) to
develop a oating regasication
terminal in Port Esquivel, Jamaica.
OGX reports USD3.4B in 2Q10“We have made important progress
in our exploratory campaign in
recent months, highlighted by
signicant discoveries in the
southern part of the Campos
Basin, as well as the beginning
of a new cycle of drilling activity
in three new regions”, said Paulo
Mendonça, General Executive
Ofcer of OGX.
AMERICA
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NACLA
Instead of it, the Colombian
government will continue to do so
willingly, in the name of increasing
foreign direct investment.
On June 29, the Canada-Colombia
Free Trade Agreement (CCFTA)
went through the nal stages in
Canada, effectively becoming law.
The nal legislative legwork is with
the Colombian Congress, which has
to implement a series of laws in order
for the agreement to be nalized.
In Canada, unions and human
rights organizations led the
opposition to the CCFTA, but they
failed to rally popular outrage
against the agreement. The passage
of this controversial agreement,
however, can’t be attributed only
to the ineffective opposition to it,
especially not when those actively
organizing in its favor constitute
a powerful swath of Canada’s
corporate elite.
The day after the CCFTA became
law in Canada, Perrin Beatty,
CEO of the Canadian Chamber of
Commerce, stated, “our members
are pleased with the government’s
commitment to move this trade
agreement forward.” When Beatty
wrote a letter to encourage the
government to pass the CCFTA in
May of 2008, nine members signed
on in support.
Three of them were representatives
of oil companies, all of them based
in Calgary, where Stephen Harper’s
conservative party has an important
base: Enbridge, Nexen and Talisman.
While Colombia doesn’t have
the oil reserves to compete with
Venezuela, it is estimated to have
the fth largest oil reserves in
South America. According to a
2010 report by Oil and Gas Journal,
Colombia has 1.36 billion barrels
of proven crude reserves. This year,
Colombia’s National Hydrocarbons
Agency estimates that the country
will produce 800,000 barrels of
crude per day.
Over the past years, Colombia’s
oil and gas sector has grown
rapidly. The country is becoming an
increasingly attractive destination
for foreign investment in the oil
and gas sectors for various reasons,
including better security conditions
for operators.
AMERICA
A new free trade deal between Canada and Colombia
indicates that the Colombian government no longer has
to be tricked into handing over its natural resources to
Oil, gas and Canada-Colombia Free Trade
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SPAIN. Europe has a pending task
to solve its energy dependence onRussian gas elds. López-Medel, an
expert on the situation of the Former
Soviet Union republics, believes that
“Europe has an excessively large
energy dependence, although Spain
is one of the less engaged to Russia
thanks to the Algerian gas supply.
However, in the energy landscape
of the old continent are emerging
new players.
“Russia represents a great energy power, worldwide. But Kazakhstan,
aims to be the world leader in
gas reserves, in addition to the
prominence it shows has in the eld
of uranium”. “The Caspian Sea and
the Arctic are really rich in energy.
Russia has a major role. What he
has done intelligently is to sign a
signicant number of agreements
with countries in its old orbit to
ensure the dominance of the Russiangas supplies to Europe” said López-
Medel, “And it is reected in the
political dependence of world leaders
when they visit the Kremlin.”
Human rights and energy
Lopez-Medel has praised Russia’s
economic progress, encouraged by
rising oil prices in the past, but he
complains that, in terms of freedoms,
it has been a clear decline in the recent
years, “as several Human rights
organizations have highlighted.
“We can notice the silence of
leaders from countries like France,
Italy, Spain or Germany, Angela
Merkel in a less extends, on thehuman rights situation in Russia
and it is usually due to the energy
dependence they have” says former
chairman of the OSCE Commission
on Human Rights, Democracy and
Humanitarian Aid.
Breaking out this dependency
would be crucial for Europe. In
this sense, some projects like the
Nabucco pipeline one, that should
transport gas from Erzurum (Turkey)
to Austria, via Bulgaria, Romania
and Hungary, will be essential. With
a 3,300 km length, Nabucco would
become operational about 2014-
2015 years, but it has to face several
risks: the competition of the RussianSouth Stream project, affordability
to the Turkmenistan gas, the Azeri
gas constrains, the so far possibilities
reaching the huge Middle East
reserves, the risk of European market
saturation and, last but not least, the
permanent ambiguity of community
leaders about the lack of a shared
strategy for the energy supply.
Jesus Lopez-Medel
EUROPE
‘Nabucco was and is a great projectin which Europe is not sufcientlyinvolved’Jesus Lopez-Medel, a member of the Spanish delegation
to the Organization for Security and Cooperation in Europe
(OSCE) said that the European Union leadership is not
enough in the Nabucco project.
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Gazprom’s output hit a historic low
last year, while exports to Europe,
the company’s key source of hard
currency, crashed 11.5 percent due
to a signicant difference between
its prices and prices of its European
competitors. Europe is now develo-
ping a spot market for gas, where gas
under short-term contracts is cheaper
than under long-term contracts favo-
red by Gazprom.
In 2009, E. On, Wingas, RWE,
Turkey’s Botas, Italy’s Eni, France’s
GdF Suez, Austria’s EconGas,
Finland’s Gasum called on Gazprom
to respond to the market situation.
The Russian giant realized it was
losing a competitive edge compared
with gas supplies from Norway, the
Netherlands, Qatar and other gas-
exporting states.
Vedomosti said that at least
ve enterprises got discounts from
Gazprom, causing it to lose about
$2 billion of revenue in 2010 alone.
Vedomosti quoted Gazprom sources
as saying that one its largest clients,
E. On Ruhrgas, was pressing for
another discount.
“We are constantly negotiating
with all our suppliers on the
adjustment of contract terms
in accordance with the market
environment,” E. On Ruhrgas
spokesman Kai Krischnak told
Vedomosti, but declined to elaborate.
Vedomosti quoted Platts news agency
as saying that in early August E. On
Chief Executive Ofcer Johannes
Teyssen said his company would start
losing prot by October if suppliers
didn’t cut their prices. He planned to
complete negotiations with supplier companies by the end of the year.
A Vedomosti source said no other
clients had applied to Gazprom but
added it was quite possible that some
would.
Earlier in 2010, E. On gained
the right to buy 15 percent of gas
supplies at spot prices up to late
2012, which could result in a $200
million revenue loss for Gazprom.
A Gazprom ofcial said that the
company’s main competitor in theEuropean Union, Norway’s Statoil,
agreed to sell up to 30 percent of its
gas at spot prices.
Gazprom’s long-term contracts
stipulate that its clients have the right
to request an adjustment of contract
terms if market conditions change
considerably. Spot prices are now
falling, the Gazprom ofcial said.
E.On Ruhrgas presses Gazprom fordiscounts againRUSSIA. European clients of Russian gas export monopoly Gazprom are dissatised with
supply prices, and one of them, E. On Ruhrgas is pressing for discounts, Vedomosti businessdaily said on August 20.
E.ON Ruhrgas.
EUROPE
RUSSIA.First half 2010 net prots
at Gazprom Neft, the oil division
of Russia’s energy giant Gazprom,
rose 42 percent year-on-year to
$1.501 billion to U.S. GAAP,
slightly exceeding analysts’
expectations, the company said on
August 18.
Revenue rose 61 percent to
$15.322 billion, Gazprom Neft
said in a statement.
Analysts expected a net prot
of $1.46 billion and revenue of
$14.915 billion.
Gazprom Neft prot up 42 pct to USD 1.5 bln
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At a glance...
Bulgaria, Serbia agree on South Stream gas line routeBULGARY. The Russian South
Stream gas pipeline will pass through
the Serbian town of Dimitrovgrad,
Bulgaria’s Prime Minister, Boyko
Borisov, announced on August 13.
Borisov spoke after the conclusion
of his talks with Serbian President,
Boris Tadic. The energy projects
have been high on the agenda and
the two have agreed on the route of
the gas line.
The Bulgarian Prime Minister
informs the desire of the Serbian
side had been for the line to pass
through Dimitrovgrad (Serbia) and,
after consulting with energy experts,
he had accepted the proposal.
“For Serbia Dimitorvgrad is the
most convenient route, and for us
it does not matter so much because
the line will pass through Soa
anyway. I am glad we could satisfy
the request and help out neighbors,”
Borisov said.
Russian energy minister expects deal over Sakhalin-1 budgetRUSSIA. The Russian EnergyMinistry expects a deal to be struck
soon with Exxon Neftegas on a
budget for the Sakhalin-1 oil and
gas project, Energy Minister Sergei
Shmatko said on August 17. “Our
aim is to put an end to the dispute
within the next two to three weeks,”
Shmatko said.The Sakhalin-1 project is being
operated within a production
sharing agreement. Exxon Neftegas
has suggested a $3.5 billion
2010 budget, but the government
considers this too high and had
approved just $1 billion at the end
of 2009. The governor of Sakhalinisland in Russia’s Far East, where
the offshore project is located, has
threatened to replace the operator if
the budget was not cut.
The Sakhalin-1 project includes
the Chaivo, Odoptu and Arkutun-
Dagi deposits.
KNOC launches USD2.9 bln hostile bid for Dana Petroleum UNITED KINGDOM. Korea
National Oil Corp. on August 20
launched a $2.92 billion hostile bid
for Dana Petroleum after the U.K.
rm’s board of directors rejected its
earlier approach.
KNOC’s offer price of 1,800
pence a share is unchanged from
a bid that Dana’s board rejected
on August 12. However, KNOC
said it has received letters of
intent supporting the deal from
shareholders who control nearly
49% of Dana.
“We believe that we have no
alternative other than to put our
attractive proposal directly to
shareholders given the inability to
reach a private agreement with the
board of Dana,” said Seong-Hoon
Kim, KNOC’s senior executive
vice-president.
The offer price represents a 59%
premium to the closing price on
EUROPE
Statoil nds oil in east of GudrunNORWAY. Oil and gas estimated at
between three and 19 million barrels
of oil equivalent have been found
by Statoil roughly three kilometres
east of the Gudrun eld in the North
Sea. The nd was made on August
20 in the Brynhild prospect where
one exploration well was drilled
with one technical sidetrack.
“The Brynhild nd is a valuable
addition to the eld development
project on the Gudrun eld,
although it’s no secret that the size of
the discovery didn’t quite meet the
expectations we had beforehand,”
says Tom Dreyer, vice president for
infrastructure led exploration in the
North Sea.
The well struck oil in an 18-metre
column of good reservoir quality in
the Draupne formation. The well
encountered a gas and oil column
totalling 35 metres of variable
reservoir quality.
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SPAIN. Spanish experts in renewable
energies have participated in the
course “Catalysis for Energy: New
challenges for a sustainable energetic
development” at the International
University Menéndez Pelayo
(UIMP) in Santander, Spain, toexplain the importance of hydrogen
and the catalyst in the new landscape
of renewable energy.
The European Union agreed the
“EU 20-20 Strategy” for the climate
change. Its goal is that by 2020, 20%
of the energy consumed by each of
its member countries will be sourced
from renewable energy. Countries
like Sweden are about to get it, but it
is not the case of Spain.“The challenge of Spain changing
the model based on fossil fuel energy
in the next few years is so important
that the investment in renewable
energy will not be enough never”
says David Pedro Serrano, director
of the IMDEA-Energy Institute,
“It is also a challenge that we must
carry out, and not because there is an
European agreement for 2020, but
the environmental impact, that urges
changes in the short and medium
term.
However, Serrano was not
optimistic about achieving this
purpose. “The 2020 targets are quite
ambitious. They were agreed before
the economic crisis, so now there arecountries that question whether it is
feasible to achieve them. For me it
is not so important achieving a 20%
contribution of renewable energy in
2020, but the change of the trend”,
he argues.
According to Serrano, Spain has
three reasons to bet on renewable
energy.
The rst one is economic. Spain
has always been a country withtrade balance decit, of which 40%
is related to energy imports, “many
billions of euros per year,” said
Serrano.
Secondly, Spain is a country with
an abundance of renewable resour-
ces. To the already recognized wind
energy, it is joining the solar power
takeoff.
“Given the abundance of the solar
resource in Spain, we are far behind
from our potential,” said Serrano.
“We also have plenty of room for
energy crops, biomass, which is
hardly developed”. In addition,
Serrano believes that water resources
have been exploited in the past, but
they still have some room for growth.As for geothermal reservoirs, Spain
has a little potential, limited to some
sites in the Canary Islands, despite
which, the average is still positive.
“Our renewable resources are
abundant. I do not think they are
enough to replace the fossil fuels
in the medium term, but to reduce
that percentage of 80% in a very
signicant amount” Serrano stated.
The third reason relates to theleadership of the Spanish companies
in the eld of renewable energy.
“Many Spanish companies are global
leaders in renewable technology
development. We are well positioned
and we can export it out” he says
proudly.
In that sense, Barack Obama
announced last July the granting of a
project valued at 1.450 billion dollars
(1.154 billion euros) to the Spanish
‘Hydrogen will facilitatethe entry of renewables inthe market’With a reliance of almost 80% on fossil fuels and foreignenergy dependency of 77% Spain urges a change of model,
leading to a sustainable situation.
EUROPE
MANUEL MONTES, DIRECTOR OF THE SPANISH NATIONAL CENTRE FOR
HYDROGEN
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EUROPE
company Abengoa, to build a solar
power plant in Arizona. The complex
known as Solana, when completed,
will be able to supply electricity to
70,000 homes. It will be one of the
largest plants of its kind in the world,
with 250 megawatts.
At the same time, Spain has al-
ready taken major initiatives such asthe creation of the Spanish Hydrogen
Association and the Spanish Asso-
ciation of Fuel Cells.
Why hydrogen?
Hydrogen can be produced from
renewable energy sources and offers
the promise of a clean, sustainable
energy carrier. Its production can
be accomplished by many different processes (photolysis, electrolysis,
thermo-chemical and biochemical).
According to experts, hydrogen
would play a key role in the integration
of renewables in the energy mix.
“We believe that three of the most
promising alternatives of sustainable
energy production are hydrogen,
bio-fuels and CO2 recycling,” says
Victor Antonio de la Peña, Senior
Researcher of IMDEA-EnergyInstitute, “Hydrogen has a very
interesting technology associated
that is able to avoid greenhouse gases
production. We must not demonize
hydrogen, because it is not dangerous
or difcult to use, and above all, it is
non-polluting”.
But among all its benets, one
stands out: its ability to be stored,
which makes the experts believe that
hydrogen will facilitate the entry of renewable energy in the market.
“The future of hydrogen is linked
to renewable energy. It is not an
energy resource. It will not replace
coal, oil, gas or nuclear energy, but
it will accompany the electricity,
with some difference in relation
to electricity: the hydrogen can be
stored” explains Manuel Montes,
director of the Spanish National
Centre for Hydrogen.
“It will serve as an accompaniment
to renewable energies, so the energy produced by the renewable sources
could be stored as hydrogen and
the electricity will be use when is
needed. This storage capacity will
help to introduce renewable energy
better and safer to the market”.
The countries are already working
in the storage of hydrogen on a large
scale, but researchers face a twofold
challenge: reducing the volume of
hydrogen gas as it is very dense, and
determining how much energy is
recommended to store.The cost of hydrogen production
also matters. The US Department of
Energy (U.S. DOE) has set a cost
goal for hydrogen at 2 to 3 dollar
per kilogram; including production,
delivery, and dispensing. This is the
level at which US Department of
Energy estimates that hydrogen will
be cost competitive in relation to
petroleum fuels.
Refuelling of hydrogen to a fuel cell hybrid car.
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NORWAY. Prosafe has been
awarded a contract by BG
International (CNS) Limited
for the provision of the SafeCaledonia accommodation rig for
the Gaupe and other projects in the
North Sea. The rm period of the
contract is 9 months with on site
operations planned to commence
March 2011. In addition Prosafe
has granted four additional two-
week options.
The Gaupe eld is an oil and
gas development located adjacent
to the Norway-United Kingdominternational border, some 225
km from the Norwegian mainland
and 12 km south of the Varg eld
(PL038). The development of
Gaupe is planned as a two well
subsea tie-back to the Armada
platform located in the United
Kingdom.
The estimated gross reserves
are approximately 28 million
barrels of oil equivalents (MMboe)with net peak production of
approximately 5,000 barrels of
oil equivalents per day (boepd),
in 2012. The production will
comprise of both oil and gas in
the ratio of approximately 50:50
over eld life. The hydrocarbons
will be transported to the Armada
platform for processing before
further transportation to the UK
mainland.
EUROPE
ORDONS NEWS MAGAZINE 19
NORWAY. Oil and gas estimated at
between three and 19 million barrels
of oil equivalent have been found by
Statoil on August 19, roughly three
kilometers east of the Gudrun eld in
the North Sea.
The nd was made in the Brynhild
prospect where one explorationwell was drilled with one technical
sidetrack.
“The Brynhild nd is a valuable
addition to the eld development
project on the Gudrun eld, although
it’s no secret that the size of the
discovery didn’t quite meet the
expectations we had beforehand,”
said Tom Dreyer, vice president for
infrastructure led exploration in the
North Sea.The well struck oil in an 18-meter
column of good reservoir quality in
the Draupne formation. In addition,
the well encountered a gas and
oil column totaling 35 meters of
variable reservoir quality in the
Hugin formation.
The discovery will be assessed
in connection with other oil and gas
resources in the vicinity, and a tie-
back to Gudrun will be considered.
“We’ll now continue the work of
proving additional reserves in the
area around the Gudrun eld, and the
Brynhild nd is a good indication that
it’s possible to prove more additional
reserves in this area,” said Dreyer.
The wells were drilled by the
Transocean Leader drill unit whichwill now drill a shallow well to
explore the bedrock conditions of the
Gudrun eld.
The licensees in PL 187 are:
Statoil, the operator (65%), Gdf Suez
E&P Norge (25%) and Marathon
Petroleum Norge (10%).
Facts about the drilling operation
• Exploration well 15/3-9 wasdrilled to a vertical depth of
4,630 meters.
• The well was terminated in
Middle Jurassic rocks belonging
to the Sleipner formation.
• The water depth at the drilling
site is 108 meters.
• The well has not been formation
tested but extensive data
collection and coring has been
carried out.
Statoil strikes oil in North Sea
Transocean Leader.
Prosafe awarded North Seacontract for Safe Caledonia
Safe Caledonia, in the North Sea.
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A SIA China raises E&P effors overseas, at home
Japanese tanker was target of attack
Iran asks Bangladesh to join pipeline
Saudis to invest USD1b into Yemen
Iran to shelve key LNG project Iran is abandoning a project toproduce liqueied natural gas (LNG)as part of a policy review that will see Tehran focusing more onexporting gas through pipelines.
Pipeline und
constructi
Iran wants to avo
dependending on
neighbou
“The oil ministry is currently
focusing on gas exports by pipelines,”
Ahmad Ghalebani, managing
director of the National Iranian Oil
Company, told the oil ministry’s
news agency Shana on August 8.
The announcement comes as
several top global energy majors
have either quit or are considering
an exit from Iran, which holds the
world’s second-largest natural gas
reserves but which world powers
slapped with new UN sanctions in
June over its controversial nuclear
programme.
As part of the shift towards piped
gas exports, Iran is abandoning
Persian LNG, a project which was
previously to be executed by Shell,
the Anglo-Dutch energy major
which had been awarded a gas block
in the giant South Pars eld. Shell
quit the project ahead of the fourth
round of UN sanctions agreed to
in June. The Persian LNG project
had faced several roadblocks even
before the latest sanctions, along
with another project, Pars LNG, led
by French rm Total, which is also
in the process of withdrawing from
Iran.
A third LNG project, led by
the National Gas Company using
German technology, is more
advanced with Iran having already
invested over $1bn. Ghalebani said
the LNG policy review does not
abandon LNG projects totally as
they could become “economical”
in the long term. “Considering the
long borders and good relations we
have with our neighbours and the
vast pipeline network in the country,
there is an advantage to exporting gas
(through pipelines) than (producing
and exporting) LNG,” he said.
“(Piped) gas exports are cheaper
and can be done faster, while
exports of LNG not only require
huge investments and complicated
technology but are also time
consuming.” He said Iran will need
to undertake further studies in the
LNG sector.
“We must also study additional
investment needs and return of
capital in this area,” Ghalebani
added. “That does not mean we will
put aside the LNG projects... But we
will review them.” Despite its vast
reserves, OPEC’s second largest oil
exporter is struggling to supply its
own gas needs. Tehran nevertheless
hopes to double gas production from
South Pars over the next ve years,
at an estimated cost of $150bn, and
to become a major gas exporter.
Shipping gas in the form of LNG
would give Iran greater market
exibility and enable it to avoid
depending on its neighbours.
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CHINA. In a June report, consulting
rm Wood Mackenzie noted that
China’s national oil companies
(NOCs) have been aggressively
pursuing merger and acquisition
activity over the past year of oil and
gas interests, which will result in
net overseas production reaching a
new record level of 1 million BOE/d
in 2010 from CNPC/PetroChina,
Sinopec Group and CNOOC Ltd
combined.
In total, the three Chinese
NOCs have committed nearly US
$25 billion to asset and corporate
acquisitions since April 2009, far
exceeding previous annual spending.
Wood Mackenzie expects high levels
of international business activity
to continue as well as partnerships
to be formed between NOCs and
international offshore companies
(IOCs).
“Until recently Wood Mackenzie
has characterized international
expansion by the Asian NOCs as
relatively conservative. Acquisitions
over the last twelve months have
changed the picture - we estimate
that the three Chinese NOCs alone
accounted for nearly 20% of global
deal value in the rst quarter of
2010,” said Norman Valentine,
senior analyst on Wood Mackenzie’s
Corporate Analysis team.
“With large-scale deals of over US
$9 billion committed so far in 2010,
we expect the Chinese NOCs to
maintain high levels of deal activity.
Domestic oil demand growth and
concerns of over-reliance on Middle
East imports are some of the drivers
for Chinese NOCs to continue
international portfolio expansion.
With healthy cash-ow generation,
strong balance sheets and implicit
nancial backing from the Chinese
government, they remain well placed
to continue overseas growth through
asset purchases and corporate deals.”
Wood Mackenzie’s report,
Chinese NOCs Step Up International
Expansion, notes that long-term
corporate development aims are
also an important objective for the
Chinese companies and access to new
segments such as unconventional
resources and global LNG [liqueed
natural gas] are being targeted. A
multi-faceted approach that includes
discovered resource opportunities
with resource-holding national oil
companies and partnerships with
IOCs are playing an increasingly
important role.
Valentine said, “We see
partnerships with IOCs as a strategy
for resource access and risk sharing.
In addition, NOCs gain access to
new technologies and operational
techniques, particularly in the
unconventional arena. Partnerships
offer a number of mutual benets.”
China raises E&P efforts
overseas, at homeChinese oil and gas companies have stepped up their
offshore exploration and production (E&P) efforts abroad as
China’s largest onshore oil elds are mature and production
has peaked and China seeks to secure additional energy.
ASIA
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BUSINESS [email protected]
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ASIA
UAE. The explosion that forced the
tanker M. Star to return to the United
Arab Emirates with its load of oil last
week sparked international concern,
with divers from the U.S. Navy’s 5th
Fleet assisting Emirati investigators.
While the ship’s owner, Mitsui O.S.K.
Lines, initially said it suspected
an attack, others said it was hit by
a large wave or was involved in a
collision with another vessel.
But the ofcial Emirati news
agency, WAM, reported that
investigators found a dent and traces
of what were described as homemade
explosives on the M. Star’s starboard
hull, leading them to conclude that a
waterborne attack “probably” caused
the blast.
Concerns about shipping
The attempt against the Japanese
tanker occurred in the narrow Strait
of Hormuz, which sees an estimated
40 percent of the world’s tanker-
borne oil trafc. The explosion left
a crew member wounded, and no oil
was spilled. But the news reawakened
concern about protecting vital
shipping lanes. Counterterrorism
experts have long warned that
Islamist groups opposed to what
they see as the Western exploitation
of Middle Eastern oil could develop
the means to target oil tankers.
“The attack is not a major attack in
terms of its target. But the geography
is really worrying,” said Mustafa
Alani, director of national security
and terrorism studies for the Dubai-
based Gulf Research Center. “Now,
they are able to attack outside the
Strait of Hormuz where 17 million
barrels of oil a day are transported.
The fact that they are able to do this
is a wake-up call.”
Industrialized countries have
already deployed naval ships in an
effort to protect oil and other cargo
from pirates in the Gulf of Aden.
Group claims responsability
Al-Qaida has carried out attacks
on oil infrastructure on land in nearby
Saudi Arabia, as well as a 2002
suicide bombing of the Limburg off
the coast of Yemen and the 2000
bombing of the USS Cole in the
Yemeni port of Aden. But if the UAE
report is conrmed, the incident
would be the rst militant attack
in the strait, a narrow chokepoint
between Oman and Iran.
Japanese tanker wastarget of attack
Concerns about securing oil tanker trafc are under
discussion once again after an investigation into an
explosion that damaged a Japanese supertanker last week in
the Persian Gulf concluded that the tanker was the target of
an unsuccessful terrorist attack.
The damaged M. Star oil tanker at sea near the port of Fujairah in the UAE
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ASIA
24 ORDONS NEWS MAGAZINE
CHINA. East China Electric Power
Design Institute has designed
the world’s largest underground
substation to supply power
for the Expo 2010 Shanghai
using Intergraph SmartPlant 3D
engineering and design software.
Shanghai City is the host for the
World Expo, which will featuremore than 230 countries and
international organizations with an
estimated 70 million visitors over
the duration of the Expo through
October, 2010. Using SmartPlant
3D for design, the Shanghai Jing
An substation is currently the
world’s most advanced fully-
underground, cylindrical body 500
KV substation.
IRAQ. Baker Hughes has signed a
three-year strategic alliance with
Iraq’s South Oil Company (SOC)
to provide technical services to
SOC’s wireline logging department
in Burj Esya, Basra south Iraq.
Under the terms of the technical
services agreement (TSA), Baker
Hughes will supply wirelinetechnologies to SOC and other
Iraqi oil and gas producers as well
as help develop local Iraqi wireline
logging capabilities.
The TSA covers the provision
of operations and technical
support, HSE management, and
training programs, processes
and procedures for SOC’s Iraqi
engineers and technicians.
THAILAND. German wind
developer Pro Ventum International
is teaming up with GE to build a
90-megawatt wind farm about 250
kilometers northeast of Bangkok.
A memorandum of understanding
(MOU) was signed today for GE
to supply 36 2.5-megawatt wind
turbines to the Thep Sathit WindFarm in the Chaiyaphum province
of Thailand.
At the same time, GE also is
looking into a potential equity
investment in the project. It will be
the rst wind project in Thailand
for both Pro Ventum and GE and
when operational, could potentially
be one of the rst wind farms of
this scale in Thailand.
Baker Hughes,SOC revampwirelinetechnologies inIraq
China ElectricPower DesignInstitute createsworld’s largest
undergroundsubstation
GE windturbinetechnologyselected for
Thai winddevelopment
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The investments are directed to
cities in Hadhramaut, Sana’a, Aden,
Hodeidah, Ibb, Taiz, Abyan, and theYemeni islands, especially Socotra
and Kamran.
Saleh met last Saturday a
delegation of businessmen and
investors from Saudi Arabia. The
delegation was headed by Abdul
Rahman Al Jeraisy, vice chairman
of the Federation of Chambers of
Commerce in Saudi Arabia.
Saleh expressed his happiness to
meet with the Saudi delegation. He
warmly welcomed them to invest in
Yemen.
He conrmed that the Saudiinvestments would receive all care
and attention from him personally
and from the government and
Yemeni businessmen, so as to ensure
positive cooperation and integration
to achieve the desired partnership
between the two countries.
“There are many promising
opportunities for investment in
Yemen which are available for
investors in the Kingdom or other
brotherly and friendly countries”, he
added.
He conrmed that Yemen lives insecurity and stability despite what
is portrayed the media who tends
to magnify any events and seek to
create a large confusion to distort
the reality of the stable security
situations in Yemen.
Saleh stressed the importance
of strengthening the bridges of
cooperation and partnership between
businessmen and investors in Yemen
and Saudi Arabia.
Saudis to pump USD1b investment into YemenSAUDI ARABIA. Saudi investors intend to invest $1 billion over the next ve years in new investments
for several Yemeni cities. This came as Yemeni President Ali Abdullah Saleh vowed to provide all the
moral and legal support to open new doors for Saudi investors.
ORDONS NEWS MAGAZINE 25
ASIA
UPI
Tehran, Iran.
The Bangladeshi government
is considering an Iranian offer to
join a long-delayed pipeline project
from Iran’s South Pars gas eld, thegovernment said. Iran and Pakistan
agreed to the nalized terms of a
natural gas pipeline stretching from
the South Pars gas complex in the
Persian Gulf earlier this year.
First deliveries of natural gas
through the pipeline are expected
in Pakistan by 2015. Islamabad has
contracted 750,000 cubic feet of gas
per day through the pipeline under
the terms of the 25-year deal.Tehran in a letter to the
Bangladeshi government offered an
invitation to join the project. A letter
to Iran from the economic relations
division in the Bangladeshi Foreign
Ministry said the government in
Dhaka was considering the measure.
“We have forwarded the letter of
Iranian envoy to the energy division,”
the semiofcial Fars News Agency
quoted the Dhaka government as
saying. “The division will now chart
its own course.”
Iran started construction on the
pipeline in its territory using domestic
engineering companies. Tehran
said if the pipeline reaches India
as originally planned, Bangladesh
could link to the gas line from there.
Iran asks Bangladesh to join pipeline
Key petroleum sector facilities, Iran.
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A FRICA ExxonMobil ends cleanup work in Nigeria
Sasol to prospect on coast of Mozambique
BP delays oil exploration in Libya
Algeria invites Indian rms to gas pipe project
Corruption threatens Uganda oil revenue
Corruption in Uganda willswallow billions of dollarsin revenue from the East African nation’s budding oilindustry that is needed tobuild schools, hospitals androads, says Olara Otonnu, aUgandan opposition leader.
Olara Otonn
He is the the UN speci
representative for childr
and armed conict , as we
as an important member
the oppositio
Olara Otunnu, a former U.N.
under secretary-general who heads
the Uganda Peoples Congress party,
said there had been no transparency
on plans to develop the oil found in
2006 along Uganda’s border with the
Democratic Republic of Congo.
Otunnu, Uganda’s foreign
minister from 1985-86, hopes to
topple longtime President YoweriMuseveni when the country goes to
the polls in February ahead of the
start of commercial oil production
late next year.
British rms Tullow Oil and
Heritage Oil have found up to 2
billion barrels of oil in the Albertine
Rift Basin and experts say the
reserves could be four times bigger.
Uganda stands to earn about $2
billion a year in oil revenue.
‘Based on the current record all
that money would be swindled,’
Otunnu told Reuters in an interview
in New York. ‘All this is being
handled personally and exclusively
at the kitchen table of the president.
we know nothing about it.’
‘We don’t need to wait until oil
begins to ow. We already know ...
the oil revenue will become part of his personal ATM machine,’ said
Otunnu, who could be arrested when
he returns to Uganda for failing to
appear in court this week on sedition
charges related to radio show
comments made earlier this year.
He says the charges are a bid by
Museveni to silence him. Ugandan
Minister for Information Kabakumba
Matsiko said it was widely accepted
that East Africa’s third largest
economy has been blighted by
corruption, but the government has
systems and institutions in place to
combat it.
‘Otunnu is entitled to his opinion.
Unfortunately he’s blinded by his
own hatred,’ Matsiko said. ‘This
oil has always been there, but no
previous government including the
one in which Otunnu served ever thought about starting exploration.’
‘The president has stated
on several occasions that the
oil money will not be used for
recurrent expenditure but long-term
infrastructure development in the
health, transport and other sectors,’
Matsiko said.
The country’s economy is seen
growing between 7-8 percent in
2010/11 from 5.6 percent in 2009/10.
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AFRICA
Conrming the development through
a statement the company said,
“Mobil Producing Nigeria, operator
of the Nigerian National Petroleum
Corporation (NNPC)/MPN joint
venture) today conrms that it has
lifted the force majeure it declared
on May 12, 2010”.
It is worth noting that US oil major
had earlier declared the force majeurefollowing a leak on a key pipeline in
southern Akwa Ibom State on 1st of
May. The force majeure is a legal
clause that allows producers to miss
contracted deliveries on account of
circumstances beyond their control.
It is worth noting that ExxonMobil
which is one Nigeria’s major oil
operators has been often accused of
causing environmental degradation
and destruction of the local
communities’ ecosystem by militant
groups and rights campaigners.
Meanwhile Nigeria’s environment
Minister Mr. John Odey had met withthe top management of ExxonMobil
in June and ordered the company to
clean the spill.
Speaking to the reporters after
the meeting the Minister had said,
“ExxonMobil needs to show more
caution in terms of the management
of oil spills”.
Adding further he had said, “We
are concerned about the operation
of ExxonMobil because once it is
offshore, any spillage will, of course,
affect the shorelines and it could go
far beyond the area of operation,” he
added.Meanwhile the company reported
over 24 per cent year-on-year growth
in its total revenues for the quarter
ended June 30 to $92.5 billion.
MOZAMBIQUE. South African
petrochemical group Sasol is
preparing to start drilling to survey
for hydrocarbons in the sea off the
coast of Sofala and Inhambane,
95 kilometres to the southeastof Beira and 50 kilometres north
of the Bazaruto National Park in
Mozambique. Sasol plans to invest
over US$5 million in oil and gas
exploration.
The company has already
carried out environmental pre-
feasibility studies and will hold
public consultations sessions on
the 23, 24 and 26 August in Beira,
Maputo and Govuro.
LIBYA. BP delayed oil exploration
in deep waters off the coast of
Libya to ensure drilling there is
safe, a company spokesman said.
BP landed a deal in 2007 to explore
for oil in the Gulf of Sidra off thecoast of Libya. The company
earlier this summer suggested it
could start work as early as July.
BP spokesman Robert Wine
said the company was holding
off on drilling to make sure all
precautionary measures are in
place.
“We are being thorough and
making sure everything is in order
before we start.”
ANGOLA. Consortium partners
approved plans for French energy
company Total to start exploration
in the deep waters off the Angolan
coast, the company announced.
Total and Norwegian companyStatoil lead a multinational
consortium examining elds in
deep Angolan waters.
The elds located off the coast
of Angola are in water depths
ranging from 3,600 to 4,500 feet.
Total said proven and probable
reserves in the region are estimated
at 500 million bpd. Drilling starts
in 2012 with rst oil expected by
2014.
BP delays oil
explorationin the Gulf of Sidra, off Libya
Sasol to start
prospectingfor oil and gason coast of Mozambique
Total approved
for Angolandeep waters,drilling starts in2012
ExxonMobil resumes oil deliveriesfrom Nigeria after cleaning up spillNIGERIA. US oil giant ExxonMobil has pointed out on August 14 that the company has completed
the cleanup work for the spill from an offshore platform in Nigeria’s oil-rich southern coast hence
resuming oil deliveries from the country.
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“We need more foreign partners
outside Europe for this 4,000-km-
long project,” Algerian Ambassador
to India Echarif Mohammed-Hacene
said, referring to the pipeline, which
aims to provide some European
companies some alternatives to
Russia gas.
“We hope Indian companies
will show interest - not only for
capital formation, but also to build
the capacity itself,” Mohammed-
Hacene said in an interview,
underscoring how much Algiers is
favourably disposed to participation
by corporate India. The ambassador
said Algeria, one of the largest
producers and exporters of naturalgas in the world, has had some good
experiences with the state-run Indian
Oil Corp. that has a $3-billion pact
with his country’s own public sector
company Sonatrach. The two state-
owned rms had successfully bid for
major hydrocarbon blocks in Libya.
Some of the world’s biggest
companies have evinced interest
in the project, he said referring to
Russia’s Gazprom, Italy’s ENI,
France’s Total and Anglo-Dutch
Royal Dutch Shell.
Nigeria is willing to set aside 13-
15 trillion cubic feet for the project.
AFRICA
ORDONS NEWS MAGAZINE 29
Trans-Sahara Pipeline
Algeria invites Indianrms to USD 10 billion gaspipeline project ALGERIA. Algeria, the second largest country in Africa, hasinvited Indian companies to participate in a $10-billion project to
build an ambitious trans-Saharan gas pipeline originating from
Nigeria via neigbouring Niger.
EGYPT. Houston independent
Apache Corp. reported two oildiscoveries and a signicant
appraisal in the Faghur basin in the
far southwest of Egypt’s Western
Desert. Pepi-1X, drilled 10 km
south of the company’s Phiops
eld, owed on test 4,216 b/d of
oil and 4.9 MMcfd of natural gas
from a 68-ft gross interval in the
Lower Safa formation.
Buchis South-1X, also drilled
10 km south of Phiops, logged131 ft of pay in several Cretaceous
zones, including the Kharita and
Alam El Buieb (AEB) sands. A
test in one AEB zone owed 1,647
b/d of oil.
The Faghur-8X step out
appraisal extended the Faghur
eld by 2.7 km to the east. The well
logged 79 ft of stacked Cretaceous
pay in multiple AEB sands. A well
test in one AEB sand owed at anaverage rate of 2,992 b/d of oil.
The Pepi and Buchis discoveries
set up several additional
exploration drilling opportunities
on trend, and Faghur-8X increased
the size of the eld and set up a
number of follow-up development
drilling opportunities, Apache
said.
Current gross production from
Faghur basin is about 24,000 bo/d.Additional infrastructure projects
are expected to bring processing
and transportation capacity from
the basin to 40,000 bo/d before
yearend. In the second quarter,
Apache’s gross production in
Egypt totaled 181,000 bo/d and
789 MMcfd of gas. Apache’s
net production during the period
totaled 98,500 bo/d and 388
MMcfd of gas.
Apache extendsdrilling inEgypt’s Faghurbasin
TUNISIA. A potential oil discovery
has been made at the Jenein Centre
permit in Tunisia on 20 August.
The exploration well has
encountered over 45 meter of
reservoir quality sands that has
been interpreted as hydrocarbon
bearing. The oil and gas company PA
Resources has a 35 percent working
interest in the permit.
The well has reached a total depth
of 4,334 meters and has been cased
as a potential oil discovery in the
Acacus structure.
The well encountered over 45
meter of reservoir quality sands.
The well test results are expected
in the beginning of October, 2010.
PA Resources hits oil discovery at Jenein Centre
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