Saudi Arabia - joining the dots

A series of blog entries exploring Saudi Arabia's role in the oil markets with a brief look at the history of the royal family and politics that dictate and influence the Kingdom's oil policy

AIM - Assets In Market

AIM - Lorem Ipsum Lorem Ipsum Lorem Ipsum Lorem Ipsum Lorem Ipsum Lorem Ipsum Lorem Ipsum Lorem Ipsum Lorem Ipsum Lorem Ipsum Lorem Ipsum

Iran negotiations - is the end nigh?

Lorem Ipsum Lorem Ipsum Lorem Ipsum Lorem Ipsum Lorem Ipsum Lorem Ipsum Lorem Ipsum Lorem Ipsum Lorem Ipsum Lorem Ipsum Lorem Ipsum Lorem Ipsum Lorem Ipsum

Yemen: The Islamic Chessboard?

Lorem Ipsum Lorem Ipsum Lorem Ipsum Lorem Ipsum Lorem Ipsum Lorem Ipsum Lorem Ipsum Lorem Ipsum Lorem Ipsum Lorem Ipsum Lorem Ipsum Lorem Ipsum Lorem Ipsum

Acquisition Criteria

Lorem Ipsum Lorem Ipsum Lorem Ipsum Lorem Ipsum Lorem Ipsum Lorem Ipsum Lorem Ipsum Lorem Ipsum Lorem Ipsum Lorem Ipsum Lorem Ipsum Lorem Ipsum Lorem Ipsum

Valuation Series

Lorem Ipsum Lorem Ipsum Lorem Ipsum Lorem Ipsum Lorem Ipsum Lorem Ipsum Lorem Ipsum Lorem Ipsum Lorem Ipsum Lorem Ipsum Lorem Ipsum Lorem Ipsum Lorem Ipsum

Showing posts with label Asha. Show all posts
Showing posts with label Asha. Show all posts

Tuesday 24 June 2014

Ivar Aasen crib sheet



  • Contains 4 fields: Ivar Aasen, West Cable, Hanz, Asha
  • PDO approved in March 2013
  • Development costs relatively high
    • Discovery of Asha in December 2012, and inclusion of Asha in development improves economics
    • Edvard Greig and Johan Sverdrup could push cost of services market higher
    • Ivar Aasen expected to receive transitional terms , whereas other fields will be taxed under new terms


Participation
  • Ivar Aasen Area contains 3 licences
    • Ivar Aasen/West Cable (PL001B)
    • Hanz (PL028B)
    • Asha (PL457)
  • Field unitisation expected mid-2014
  • Estimated unitised participations are: Statoil (41.15%), Det Norske (28.8%)*, Bayerngas (12.34%), Wintershall (7.08%), EON (3.54%), Spike (3.54%), Verbundnetz (3.54%)
  • Note that on 25 June 2014, Det Norske increased its stake in PL457 (above unitisation does not reflect this)
    • EON to receive 15% WI in PL613 (Barents) and 10% WI in licence PL676S (North Sea) + Cash
    • Det Norske increases interest in PL457 from 20% to 40% WI


Reserves
  • WM Commercial reserves: 149mmbbl + 181bcf
    • Hanz: good reservoir – expect high RF
    • West Cable: strong acquisfer support – expect high RF
    • Ivar Aasen and Asha reservoir more complex, varying sand quality


 Production
  • Ivar Aasen, Asha and West Cable production from 2016; Hanz in 2019
  • High rates of gas production expected from some wells due to gas cap in Ivar Aasen and Hanz reservoirs
  • Wells will be drilled in order that gas production can be shut off to maximize oil recovery
  • Asha gas initially reinjected



Development
  • Ivar Aasen, Asha, West Cable: developed using fixed platform
    • 20 well slots with partial processing facilities
    • Production and injection wells will be drilled using jack-up positioned next to platform to 2016/17
  • Hanz will be developed using subsea tie back to Ivar Aasen platform
    • Exports via Edvard Grieg facilities