New base special 13 march 2014

Copyright © 2014 NewBase www.hawkenergy.net Edited by Khaled Al Awadi – Energy Consultant All rights reserved. No part of this publication may be reproduced,

redistributed, or otherwise copied without the written permission of the authors. This includes internal distribution. All reasonable endeavours have been used to ensure the accuracy of the information contained

in this publication. However, no warranty is given to the accuracy of its content . Page 1

NewBase 13 March 2014 Khaled Al Awadi

NewBase For discussion or further details on the news below you may contact us on +971504822502 , Dubai , UAE

Chief of Saudi chemicals giant Sabic urges regional innovation April Yee , www.thenational.ae/business

Gulf petrochemical makers need to step up their efforts in research and development to catch up with more established competitors, said the head of the region’s top producer. Two threats – a shale boom in North America that has fuelled a chemicals revival and a crunch on gas resources in the Arabian Gulf – are putting pressure on regional producers, said Mohammed Al Mady, the chief executive of Saudi Basic Industries, also known as Sabic.

“In the Middle East and here in the GCC we are much behind,” said Mr Al Mady, on the sidelines of a Gulf Petrochemicals & Chemicals Association conference in

Dubai. “To catch up we have to really do more. We have to go after start-ups, we have to open up innovation with universities and collaborative innovation, we have to localise our innovation capabilities around the world and try to get the best knowledge in the regions we operate in.”

Last quarter the world’s fourth biggest polyolefins producer missed analysts’ earnings estimates, reporting a 5.7 per cent increase in fourth-quarter net profit to 6.16 billion Saudi riyals (Dh6.03bn). Mr Al Mady, who has previously said Sabic hoped to enter the North American shale industry this year, said the company would be open to buying start-ups in regions including the Middle East.

“Wherever we have a gap in technology, we will look into niche companies that will fill our innovation gap,” he said. “When it’s a start-up hopefully we can get them when they are young – if they are old they become more expensive.”

New chemicals can take as long as a decade to develop, compared with the months it take to launch a new smartphone design, said Mr Al Mady, adding that “the petrochemical industry is no Facebook or Twitter”.




OPEC raises oil demand growth forecast for 2014 By Reuters + NewBase analysis , see attached report by OPEC

World oil demand will increase more than expected in 2014, OPEC said on Wednesday,

raising its prediction for a second straight month as economic growth picks up in Europe

and the United States. The view on oil demand growth from the Organisation of the Petroleum

Exporting Countries, source of a third of the world's oil, contrasts with that of the US government's Energy

Information Administration, which on Tuesday cut its forecast.

In a monthly report, OPEC said global demand will rise by 1.14 million barrels per day (bpd) this year, up 50,000 bpd from its previous forecast. It also raised the 2014 projection for global demand for OPEC's crude. "While many challenges remain, the expected improvement in the global economy is also resulting in

higher oil demand," said the report from OPEC's Vienna headquarters. OPEC cited further signs of strong oil demand in the world's top consumer, the United States, as well as a stabilising rate of demand contraction in Europe - where oil use has been held back for years by weak economies. But the group also sees an increasing chance of slowdown in emerging economies - the source of much of the world's oil demand growth. Concern over China was weighing on currencies closely linked to commodities on Wednesday.

"This rising risk of a slowdown in growth in the emerging economies has been mirrored in the foreign exchange markets in recent months," OPEC said. "Recent developments in Ukraine have added to this year's growth risk." According to secondary sources cited by the report, OPEC raised its own output to 30.12 million bpd in February, as a ramp-up in Iraqi exports outweighed disruption to Libyan shipments and lower Saudi Arabian output. The stronger global demand outlook is leading to slightly higher demand for OPEC oil in 2014. OPEC expects the demand for crude pumped by its 12 members to average 29.70 million bpd, up 100,000 bpd from last month's report.

While OPEC will welcome signs of higher demand for its crude, its market share is still under pressure from rising supplies of non-OPEC oil, such as US shale. OPEC's 2014 supply and demand figures point to a 420,00 bpd build-up in global inventories should OPEC keep pumping at February's rate. Following the reports from the EIA and OPEC, a third closely watched update on supply and demand is due on Friday from the the International Energy Agency.




Oman Oil set to develop Yanqul copper project BYOMAN TIMES NEWS SERVICE

The Yanqul copper project is located in Al Dhahira governorate, 50km north of Ibri. The development of Yanqul will support metal-based industrial projects in Oman and further support Oman Oil’s diversification strategy.

Oman Oil Company (OOC), the Sultanate's investment arm in the energy sector, has announced its first mining venture in Oman after signing a memorandum of understanding (MoU) with Mawarid Mining and Oman Mining Company to develop the Yanqul copper project, according to a press release. The project is located in Al Dhahira governorate, 50km north of Ibri. OOC's investment will be for an equity stake of 41 per cent upon the completion of a definitive feasibility study, with 49 per cent for Mawarid Mining and the remaining equity belonging to Oman Mining Company.

The development of Yanqul project will support metal-based industrial projects in Oman and further support OOC's diversification strategy to boost long-term investment opportunities in the infrastructure, power and mining sectors. The Oman Oil Company plays an important role in the Sultanate's efforts to diversify the economy and to promote domestic and foreign investments as well as fostering and building human capital. MB Holding subsidiary

awarid Mining, a wholly-owned subsidiary of MB Holding, was established to explore and develop mining

opportunities in Oman and internationally. Established in 1997 as National Mining Company, the company

was rebranded to Mawarid Mining in 2010.

It is the first private sector mining company to engage in the exploration and development of copper and

gold in Oman. Oman Mining Company, which is a 100 per cent state-owned company, has been evaluating

the potential development of the Yanqul copper project.




Oryx Petroleum announces successful results of BAN-1 exploration well in Kurdistan Source Oryx Petroleum

Oryx Petroleum has announced that the successful testing of the BAN-1 exploration well has confirmed the Corporation´s fourth consecutive oil discovery in the Hawler license area in the Kurdistan Region of Iraq. Oryx Petroleum is the operator and has a 65% participating and working interest in the Hawler license area. Commenting today, Henry Legarre, Oryx Petroleum’s Chief Operating Officer, stated: 'We are very pleased with the drilling and test results of the BAN-1 exploration well. We successfully flowed oil from the well´s primary targets in the Cretaceous and Lower Jurassic reservoirs. In addition, we encountered and flowed hydrocarbons to the surface in the Triassic Kurra Chine formation and established the presence of hydrocarbons in the Tertiary Pila Spi formation. Given the down-dip location of the well, these results underline the significant potential that exists up-dip of the BAN-1 well. We are now accelerating plans to drill an appraisal well targeting the crest of the Banan structure in order to better understand the full potential of this discovery.'

Banan Exploration Well

The KS Discoverer 1 rig spudded the BAN-1 well, the Corporation’s fourth exploration well in the Hawler license area, targeting the Banan

Prospect, in mid-September 2013 and reached total depth of 4,000 metres in the Kurra Chine formation. The BAN-1 well targeted oil potential in the Cretaceous, Upper and Lower Jurassic and the Triassic. Due to challenging control conditions experienced in the Triassic, where the

well encountered and flowed hydrocarbons to surface, BAN-1 was plugged back to 3,400 metres in preparation for testing operations in the shallower Cretaceous and Jurassic formations.

The BAN-1 well was located down-dip of the crest of the Banan structure because the crest was outside the Hawler license area boundaries at the time of BAN-1 planning. The Corporation agreed to a boundary extension with the Kurdistan Regional Government in late 2012. 2D seismic data acquired in late 2013 covering the boundary extension area identified more clearly the likely crest of the Banan structure indicating that such crest is up-dip of the BAN-1 well.

Logging data, core analysis and observations during drilling in the Upper Cretaceous (Shiranish, Kometan and Upper Qamchuqa formations) confirmed the presence of hydrocarbons and similar matrix porosity as observed at Demir Dagh. Logging data and observations during drilling, including free oil on the shakers and cuttings, also confirmed the presence of hydrocarbons in the Tertiary (Pila Spi formation), Upper Jurassic (Najmah formation) and Lower Jurassic (Mus and Base Alan, Adaiyah, and Butmah formations).




Testing Program Results

Oryx Petroleum successfully flowed oil in two of six cased-hole drill stem tests ('DSTs') in BAN-1. DST#1 conducted over a 106 metre interval in the Butmah formation in the Lower Jurassic successfully flowed naturally over a period of three days using a series of different choke sizes. The sustained flow rate achieved was 3,500 bbl/d of light oil for a 23 hour period using a 128/64” choke. No pressure decline was observed during the test. The crude oil from the Butmah formation was measured on site between 27° and

30° API gravity. Small quantities of natural gas and hydrogen sulfide were encountered.

The DST#6 conducted over a 123 metre interval in the Shiranish and Top Kometan formations in the Upper Cretaceous successfully flowed over a period of 42 hours using a series of different choke sizes. The sustained flow rate achieved was 820 bbl/d of oil for a 12 hour period using a 128/64” choke under natural flow. No pressure decline was observed during the test. The crude oil from the Shiranish and Top Kometan formations was measured on site between 15° and 21° API gravity. Small quantities of natural gas and hydrogen sulfide were encountered. The Corporation believes higher flow rates could be achieved using appropriate artificial lift.

The four other DSTs were conducted separately in the Middle Cretaceous (Kometan formation), Upper Jurassic (Najmah formation) and Lower Jurassic (Mus and Base Alan, and Adayiah formations). Logging results of each formation indicated the presence of hydrocarbons and a fracture network.

During the tests small quantities of oil were produced from the Lower Alan and Mus formations, as well as 1,000 and 2,000 bbl/d of water. The Corporation believes the presence of water was due to the down-dip location of BAN-1. Importantly, the test results show the development of reservoirs that will be further appraised and tested by the planned BAN-2 well which will be located in a more crestal position.

All field fluid measurements will require laboratory analysis to confirm results and should be considered preliminary until such analysis has been done. The above test results are not necessarily indicative of long-term performance or of ultimate recovery.

NSAI Resources Estimates as of December 31, 2013

Prior to the start of the testing campaign, Netherland, Sewell & Associates, Inc. ('NSAI') estimated as of December 31, 2013 that the Banan discovery contains low, best and high estimates unrisked gross (100%) contingent oil resources of 5, 40 and 440 MMbbl, respectively, all in the Cretaceous formations, and best estimate unrisked gross (100%) prospective oil resources of 235 MMbbl (risked: 46 MMbbl) in the Tertiary Pila Spi formation, the Jurassic Alan, Mus, Adaiyah and Butmah formations, and the Triassic Kurra Chine formation. Accelerated Appraisal Plan

Given the successful drilling and testing results of the BAN-1 well, the Corporation is accelerating its plans to drill an appraisal well targeting a more crestal location of the Banan structure. The Corporation believes significant up-dip potential exists in all formations. The up-dip potential in the Cretaceous formation is underscored by NSAI´s high estimate of contingent resources for Banan. The Corporation expects to spud BAN-2 in mid-2014.




EU parliament excludes shale gas from tougher environmental code Source: Reuters

EU politicians on Wednesday voted for tougher rules on exposing the environmental impact of oil and conventional gas exploration, while excluding shale gas. Member states such as Britain and Poland are pushing hard for the development of shale gas, seen as one way to lessen dependence on Russian gas, as well as to lower energy costs as it has in the United States.

The plenary vote of the European Parliament in Strasbourg, France follows a compromise deal on the draft law in December, which was struck only after negotiators agreed to leave out references to shale gas. Member states are expected to give their endorsement over the coming weeks, after which the law will become final.

Under the planned law, assessments of a range of infrastructure projects, as well as oil and gas, will include their impact on biodiversity and climate change, plus measures to ensure authorities granting approval have no conflict of interest. Industry said the new law avoided placing too many restrictions on projects during their early phases when commercial viability is unclear.

'While not imposing unnecessary requirements on the upstream oil and gas industry, the new rules will guarantee that any development, including exploration for shale gas, will be subject to strict environmental standards,' Roland Festor, director for EU affairs at the International Association of Oil & Gas Producers, said.

Shale Gas Europe, which brings together companies such as Chevron, Total and Cuadrilla Resources, also welcomed the law. 'Shale gas could potentially play an important role in meeting Europe's acute energy challenges,' Marcus Pepperell, spokesman for Shale Gas Europe, said.

Green politicians, however, said the decision to leave out shale gas was a major setback and that the fracking process, which involves using chemicals to extract gas from the shale rock, posed risks to health and the environment. 'The Greens believe there is already sufficient evidence to ban fracking but ensuring informed permit decisions through the environmental impact assessment procedure must be the absolute minimum,' Sandrine Belier, environment spokeswoman for the European Greens, said.




KrisEnergy expands Bangladesh footprint with Block SS-11 Source: KrisEnergy

KrisEnergy has been awarded a 45% non-operating working interest in the production sharing contract (PSC) for the shallow sea Block SS-11 offshore Bangladesh. The block was awarded to Santos Sangu Field

Ltd, which is the operator of the PSC with 45%, KrisEnergy (Asia) Ltd, a wholly owned subsidiary of the KrisEnergy group of companies, and Bangladesh

Petroleum Exploration & Production Company Limited ('BAPEX'), which holds 10%.

Block SS-11 covers an area of 4,475 sq km in the Bay of Bengal over the Bengal Fan. The majority of the block lies in shallow waters up to 200 metres with the furthest southwest portion extending into water depths up to 1,500 metres.

The PSC has an initial five-year term, with an associated work commitment of the acquisition and processing of 1,893 km 2D seismic data and 300 sq km 3D seismic data and the drilling of one exploration well . Richard Lorentz, KrisEnergy’s Director Business Development, commented: 'Since our acquisition of a 30% interest in onshore Block 9 in April 2013, we have been looking at opportunities to expand our portfolio in Bangladesh.

We see high potential in the geology in the offshore area although there has been negligible exploration activity in SS-11 itself. This award also marks a new partnership with Santos, which has more than six years of operating experience in country. We look forward to our collaboration.'KrisEnergy acquired in 2013 a 30% operating working interest in Block 9 onshore Bangladesh, which contains the producing Bangora gas field.

Highlights of the Model Production Sharing Contract 2012 are as follows:

• -No signature bonus or royalty . • -Provision for assignment of interest and share transfer . • -Minimum work commitment in each Exploration Period. • -Maximum 55% cost recovery per Calendar Year . • -Option to sell Contractor’s share of Natural Gas in the • domestic market to a third party, at a negotiated price, • subject to PetroBangla’s right of first refusal . • -For shallow water blocks, Contractor has to commit • a mandatory work programme consisting of 2D seismic and • drilling of an exploratory well for each block . • -For shallow water blocks, the Government shall have • a carried interest of 10%.




Ghana still waiting for gas-fired growth James Batty , http://interfaxenergy.com/

Ghana remains chronically short of gas, but there are a series of projects in the works that could close the gap. In the meantime, the country is struggling to meet demand and pay for expensive fuel oil imports.

Ghana promises to be one of West Africa’s key gas demand growth areas in coming years. The country consumes 244 million cubic feet (6.91 million cubic metres: MMcm/d) of gas, but this is expected to rise to 22.66 MMcm/d by 2018, according to

figures from regional financial services group Ecobank. Key to meeting this demand is a gas gathering and processing project currently under construction. The project will use associated gas from the offshore Jubilee oilfield to generate power onshore. The facilities were expected to be finished by the end of last year, but technical and financial issues have held up progress.

This week, the Ghanaian Gas Company told Interfax that project developer Sinopec now expects the facilities to be completed in the third quarter this year. Minister of Energy and Petroleum Emmanuel Armah-Kofi Buah told journalists on Monday the gas processing plant at Atuabo would be ready by 31 March. The $750 million plant is being built by Chinese group Sinopec and will have an initial capacity of 4.3 MMcm/d. Buah was talking after a meeting with Minister of Finance Seth Tepker and Tullow Oil’s Country Manager Charles Darkey, according to the Ghana News Agency.

Missed deadlines

However, the government’s track record in meeting deadlines has been patchy. The original target startup date for the facilities was the end of 2012, but this was pushed back last year into 2014. Analysts at Ecobank see the facilities starting up in the fourth quarter, while Jubilee’s operator Tullow has said it does not expect the plant to be ready until the second half of the year.

Tullow said earlier this year that oil output from Jubilee is being constrained by the delay, as the company is not allowed to flare gas and has only limited capacity for reinjection. Output from the Jubilee field finished the year at around 100,000 barrels per day – below the targeted 120,000 b/d. The company attributed this to problems with the water injection system on its floating production storage and offloading vessel, as well as the delay in building gas export infrastructure. The company has applied for a temporary gas flaring licence from the government.

“Any ‘good news’ from the government this year is likely to come from the successful completion of the Jubilee gas project,” Teneo Holdings analyst Manji Cheto told Interfax. “Unfortunately, as things stand, they are not looking really positive on that front either.”

The Eirik Raude semi-submersible rig operating on the Jubilee Field, Ghana. (Tullow Oil




The main problem, according to Cheto, is a delay in receiving funds from the project’s Chinese backers. “About a third of the government-hyped $3 billion loan from the Chinese Development Bank has been earmarked for the Jubilee gas projects, yet only about $600 million has been received. Meanwhile, the government has already had to pay $100 million as ‘commitment fees’ for the loan,” she added.

The $3 billion loan from China was unveiled in a wave of publicity during the summer of 2011. Buah flew to China last month to discuss further investment, including a new coal-fired power station and potentially also a hydropower project.

Gas to lead expansion

Despite these overtures, Accra still expects gas-fired plants to lead the expansion of power capacity in the country. Ghana’s main electricity provider, the Volta River Authority (VRA), generates most of its power using hydro (47% of its total generation capacity), with thermal plants accounting for 36%.

However, some of these thermal plants are running on liquid fuels rather than gas as supply problems persist in the country. In late January, for example, a source at the VRA told Interfax the 220 MW Takoradi 2 power plant in Ghana was running entirely on crude oil rather than gas because of a shortfall in volumes coming from Nigeria via the West Africa Gas Pipeline (WAGP).

Other plans to help ease the burden on Ghana’s power sector include the development of the offshore Sankofa field by Italian group Eni, as well as the Tweneboa, Enyenra and Notomme offshore developments. The government has also stated plans to build an FSRU to produce up to 1.5 GW of electricity by 2016. The facility would be able to handle up to 12.74 MMcm/d of gas to fuel new gas-fired turbines.

Another option for the country is boosting supplies from the WAGP, although not necessarily by increasing Nigerian volumes. London-listed Gasol is planning an LNG import

facility in the Benin harbour of Cotonou. This facility would feed into the WAGP and supply customers along the network. And there will be room for both this project and another FSRU on the other side of the country.




Gas pipeline deal signed between Oman & Iran http://main.omanobserver.om/?p=64182 Written by Oman Observer

Oman, Iran ink agreement on manpower — MUSCAT — Within the framework of the visit by Dr

Hassan Rouhani, President of Iran, the Sultanate’s Government and the Iranian Government

signed at Al Alam Palace

yesterday three agreements.

The first, an initial agreement

related to a gas pipeline, was

signed by Saif bin Hamad al

Sulaimani, Adviser of the Minister

of Oil and Gas for Technical

Affairs, and Sayyid Kamali,

Chairman of the Negotiating

Delegation on behalf of the

Iranian side. The signing

ceremony was attended by Dr

Mohammed bin Hamad al

Rumhy, Minister of Oil and Gas, who said in a statement that the initial agreement is a good start.

‘We are happy with the visit of the Iranian President to the Sultanate as it will enhance the

economic relations between the Sultanate and the Islamic Republic of Iran. The project will be

initiated after completing the economic, technical and feasibility studies of the stages of the

pipeline that extends from Iran to the Sultanate. It has been initially agreed that the pipeline will

cross the Sea of Oman from the Iranian side directly to the north of the Sultanate, he added.

This agreement follows a memorandum of understanding signed in 2009 to build a 200-km

undersea pipeline. “The project

should be completed by the end

of 2017,” he said in comments to

AFP. In response to a question

about the Iranian investments in

Duqm, Dr Al Rumhy said: “The

agreements did not cover this,

however the Iranian side has

expressed its intentions to invest

in Duqm, especially in

petrochemical sector. Moreover,

the availability of gas from Iran

will provide many opportunities

for the public and private sectors in both countries to set up new gas-based industries.”




The second agreement related to the scope of work and the third agreement covered vocational

training and to benefit from it, were signed by Shaikh Abdullah bin Nasser al Bakri, Minister of

Manpower, from the Omani side and Ali Rabie, Minister of Labour and Social Affairs, from the

Iranian side. Al Bakri said that the second agreement will help in regularising the labour market,

exchange experiences, procedures, frameworks and laws that may serve and regularise the

relationship between the stakeholders in labour markets and promote relationship among the

stakeholders. The third agreement related to vocational training, which aims at enhancing

exchange of information in training programme, specialities and the experiences that may help in

preparing national manpower. — ONA

NewBase Comments :-

The domestic energy needs inside Iran is far from being fulfilled to surplus gas for export , Iran is a

net importer and will always will be . The growth in the local Iranian gas demand is related

residential development for space heating , power and industries ( steel & cement ) and further

pressure is from EOR demand for gas and less western technologies to improve the production

rates to exceed the Iran demand growth which is approx. 1.5 BCFD per year , with forecasts

indicate that Iran daily Gas consumption may hit 16.0 BCFD in 2015 .

There other obstacle in building such pipeline ( deep water ) , as the technologies plus funding

must use western facilities and that is not clear is available for the parties involved in the project .

From the Omani side the current gas shortages are temporarily as projects in Oman are yielding

good or moderate amounts of oil and gas to fulfill the local demand in Oman , thus no great need

to import gas from a critical energy area that already suffering from sanctions and other political

tension in the area , thus may lead to delays in finance of the project .

The other most important issue is the gas pricing formula that Iran always impose and seems

that a road block , the high cost for production and transportation may lead to impose a gas price

above 15 U$D per MMBTU , thus such gas may not be of use for Oman local needs nor its

industries ( power , LNG, Cement, fertilizers, transportation, steel & Aluminum industries ) .

The past experiences with Iran signing GSA indicate that Iran is willing to sign with anyone even

with parties in Mars if later found to be and colonies in there , on the other hand implementation of

such agreement will be delayed till such projects are replace with other sources of energy.

We wish all the luck for this pipeline and gas volume, as it is deeply needed .




Indonesia: Salamander Energy announces West Kerendan-1 gas discovery Source: Salamander Energy

Salamander Energy has announced that the West Kerendan-1 (WK-1) exploration well has reached total depth and has successfully tested gas from the Upper Berai reservoir and will be potentially completed as a future producing well following completion of the testing programme. Following wireline logging, pressure and sampling programmes, Salamander can confirm that gas has been encountered in four zones: Middle Miocene sandstones, Oligocene Upper Berai and Lower Berai formation carbonates and the Eocene Tanjung formation sandstones.

Primary Target Upper Berai Carbonates

As announced on 9th December 2013 the top of the Upper Berai carbonate formation was encountered at 2,514 m true vertical depth sub-sea ('TVDSS'), 110 metres high to prognosis with gas ingress to the well bore. A full suite of wireline logs and pressure surveys has been acquired which has confirmed that the Upper Berai in the WK-1 location is gas-bearing, with approx. 119 m of net pay being penetrated in a gross column of up to 421 m. Pressure sampling has confirmed that the majority of this gas column has the same pressure regime as the Kerendan field, some 10 km east of the WK-1 location and shares the same gas-water contact. The Upper Berai also contains a second separate, deeper gas column with a separate gas-water contact inferred from pressure data to be some 84 m deeper than the Kerendan field at a depth of 2,940 m TVDSS.

A cased hole drill stem test ('DST') has successfully flowed gas at a maximum rate of 18.6 mmcfgpd and 181 bcpd from a 70 m interval in the deeper Upper Berai zone. A further DST will be performed across a 200 m gross section to establish production rates in the upper interval and the overall productivity of the entire Upper Berai section.

Discovered Resource Estimates

Within the upper gas column, the West Kerendan discovery has been independently certified by Salamander’s reserves auditor to contain recoverable gas in the range 133 Bcf – 682 Bcf with a mid-case assessment of 313 Bcf. This is in addition to the certified resource of 280 Bcf in the Salamander-operated Kerendan field currently under development. Above & beyond these resources, management estimate an additional 50 Bcf of recoverable gas to be available from the lower gas column, which has been successfully tested.




Commercialisation of the Discovered Gas

Following the successful test in the Upper Berai formation, Salamander will open discussions with the Indonesian authorities with a view to including the West Kerendan discovery in the Kerendan field plan of development. This enlarged field development would then form the source of incremental gas sales to the gas-fired power plant that is currently being constructed adjacent to the Kerendan field.

Secondary Target Lower Berai Carbonates

The secondary target Lower Berai Formation carbonates were encountered at 2,915 metres TVDSS, some 53 m high to prognosis. Wireline logging and drilling gas shows indicated the occurrence of up to 70 m net pay across multiple thin pay zones. Volumes attributable to this interval are still being evaluated.

Tanjung Sandstones

The WK-1 well penetrated 250 m of Eocene Tanjung formation overlying Basement. Drilling gas shows and wireline log evaluation indicates 8 m of net gas-bearing sandstones across a 45 m thick interval near the base of the sequence. The Tanjung section is interpreted to represent a thin cover to a long-standing basement high and as part of the overall appraisal of the West Kerendan area, Salamander will target the testing of thicker developments of Tanjung sandstone sequences down-dip of the structural crest.

James Menzies, CEO of Salamander, commented: 'The results to date from the West Kerendan-1 gas discovery support our belief that the area has potential to be an important gas province. Following completion of the testing programme, our immediate focus will be on appraising & expediting the commercialisation of discovered gas in the Upper Berai. We are also pleased to find gas-bearing sandstones in the deeper Tanjung formation and will be determining the optimum route to further appraise this interval with its very significant upside potential.'

The West Kerendan-1 exploration well (WK-1), which lies within the Bangkanai PSC, in Central Kalimantan, Indonesia. Salamander has a 70% operated interest in the WK-1 well.




NewBase For discussion or further details on the news below you may contact us on +971504822502 , Dubai , UAE

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]

KKKKhaled Al Awadi is a UAE National with a total of 24 yearshaled Al Awadi is a UAE National with a total of 24 yearshaled Al Awadi is a UAE National with a total of 24 yearshaled Al Awadi is a UAE National with a total of 24 years 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

Technical Affairs Specialist for Emirates General Petroleum Corp. “Emarat“ with external voluntary Energy consultation for Technical Affairs Specialist for Emirates General Petroleum Corp. “Emarat“ with external voluntary Energy consultation for Technical Affairs Specialist for Emirates General Petroleum Corp. “Emarat“ with external voluntary Energy consultation for Technical Affairs Specialist for Emirates General Petroleum Corp. “Emarat“ with external voluntary Energy consultation for

the GCC arethe GCC arethe GCC arethe GCC area via Hawk Energy Service as a UAE operations base , Most of the experience were spent as the Gas Operations a via Hawk Energy Service as a UAE operations base , Most of the experience were spent as the Gas Operations a via Hawk Energy Service as a UAE operations base , Most of the experience were spent as the Gas Operations a via Hawk Energy Service as a UAE operations base , Most of the experience were spent as the Gas Operations

Manager in Emarat , responsible for Emarat Gas Pipeline Network Facility & gas compressor stations . Through the years , heManager in Emarat , responsible for Emarat Gas Pipeline Network Facility & gas compressor stations . Through the years , heManager in Emarat , responsible for Emarat Gas Pipeline Network Facility & gas compressor stations . Through the years , heManager in Emarat , responsible for Emarat Gas Pipeline Network Facility & gas compressor stations . Through the years , he has developed has developed has developed has developed

grgrgrgreat experiences in the designing & constructingeat experiences in the designing & constructingeat experiences in the designing & constructingeat experiences in the designing & constructing of gas pipelines, gas metering & regulating stations and in the engineering of supply of gas pipelines, gas metering & regulating stations and in the engineering of supply of gas pipelines, gas metering & regulating stations and in the engineering of supply of gas pipelines, gas metering & regulating stations and in the engineering of supply

routes. Many years were spent drafting, & compiling gas transportation , operation & maintenance agreements along with maroutes. Many years were spent drafting, & compiling gas transportation , operation & maintenance agreements along with maroutes. Many years were spent drafting, & compiling gas transportation , operation & maintenance agreements along with maroutes. Many years were spent drafting, & compiling gas transportation , operation & maintenance agreements along with many MOUs for ny MOUs for ny MOUs for ny MOUs for

the local authorities. He has become a reference for many of the Oil & Gas Conferences held in the UAE andthe local authorities. He has become a reference for many of the Oil & Gas Conferences held in the UAE andthe local authorities. He has become a reference for many of the Oil & Gas Conferences held in the UAE andthe local authorities. He has become a reference for many of the Oil & Gas Conferences held in the UAE and Energy program broadcasted Energy program broadcasted Energy program broadcasted Energy program broadcasted

internationally , via GCC leading satelliteinternationally , via GCC leading satelliteinternationally , via GCC leading satelliteinternationally , via GCC leading satellite ChannelsChannelsChannelsChannels . . . .

NewBase : For discussion or further details on the news above you may contact us on +971504822502 , Dubai , UAE

NewBase 11 March 2014 K. Al Awadi

SHALE gas has turned the American

energy market on its head. Production has

soared twelvefold since 2000, to 4.9 trillion

cubic feet, or a quarter of the country's

total gas output .

Economy & Finance

New base special 13 march 2014