Natuna Sea Block A PSC ("NSBA")

KUFPEC (33.33%), PMO (28.67%*), Petronas (15%), Pertamina (11.5%), PTTEP (11.5%) Pertamina and PTTEP acquired their stakes as part of Hess' Indonesian portfolio NSBA supplies gas to SembGas in Singapore, together with South Natuna Sea Block B and Kakap, as part of a GSA signed in 1999 for a period of 22 years In 2008, PMO signed two additional GSAs to supply NSBA gas for power generation in Batam, Indonesia Due to delay in constructing the pipeline to Batam, a swap agreement has been signed for the Batam earmarked gas to be supplied to Singapore...

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Aasta Hansteen Area

Located in Norwegian Sea; Aasta Hansteen discovered in 1997 but remained undeveloped due to the remoteness Area includes Snefrid Sør and Haklang, both discovered in 2008 Statoil (75%*), OMV (15%), COP (10%) Area thought to contain >2.4 GIIP, estimated recoery c.66% PDO submitted in January 2013 and received approval in April 2013 Development will utilise subsea wells tied back to SPAR platform Power supply expected to be generated on platform due to high cost and difficulty of supplying electricity from shore (distance) First...

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Saudi Arabia - joining the dots: Part 2 - Scandal

Saudi Arabia - joining the dots is 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. Part 2 - Scandal In 2006, the then King Abdullah created the Allegiance Council in 2006 to help select future rulers. In March 2014, Prince Muqrin was appointed by Abdullah to be the next in line after Salman, placing...

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Saudi Arabia - joining the dots: Part 1 - The return of the Sudairis

Saudi Arabia - joining the dots is 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. Part 1 - The return of the Sudairis On Friday 23rd January 2015, King Abdullah passed away paving the way for the Sudairi branch of the Royal Family to consolidate power and strengthen its grip over the country. ...

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Repsol makes US$8.3bn offer for Talisman Energy

Repsol makes US$8.3bn offer for Talisman Energy @ US$8/share86% premium to 12 December closing price...but not that big in the context of the recent share price f...

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Sub-Saharan Africa - newsflow update

Gabon Deepwater - Leopard discovery Leopard-1 was drilled on licence BCD10 Shell 75%*, CNOOC 25% Encountered substantial gas column with 200m net gas pay Further appraisal required FLNG? 3-4 tcf may be required, although economics of sales into Europe are marginal Government is also keen to grow domestic gas market Congo Offshore - Eni/NewAge - follow up discovery in Marine XII Minsala Marine discovery Estimated 1bnboe in place, of which...

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Brent falls - impact on E&A

Brent (above) has now fallen >25% since June...what are the E&Ps going to do... Onshore flexibility, but not in the offshore Longer lead times, offshore spend tends to be committed vs. onshore Likely see cut back in E&A instead Delayed payments Kurdistan, DNO and Genel are still to be paid for pipeline exports Egypt, TransGlobe has built up USD185m of receivables Nigeria, Seplat has built up USD215m receivables as government...

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