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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 28 January 2014 Khaled Al Awadi NewBase For discussion or further details on the news below you may contact us on +971504822502 , Dubai , UAE Burj Al Arab awarded Green Globe Certification by Farnek http://www.uaeinteract.com/docs/Burj-Al-Arab-awarded-Green-Globe-Certification-by-Farnek/59678.htm The luxurious Burj Al Arab hotel in Dubai has been awarded international Green Globe Certification (GGC) following a comprehensive sustainability audit conducted by Dubai-based consultancy Farnek, GGC's preferred partner in the Middle East. Repeatedly voted the world's most luxurious hotel, Burj Al Arab. The hotel can now add the Green Globe certification to its long list of accolades, proving that luxury can be green. "We are delighted to receive this prestigious recognition that reinforces our commitment to sustainable practices”, said Heinrich Morio, General Manager at Burj Al Arab."The certificate is a testament to Burj Al Arab's dedication to ensuring that green policies are at the heart of our business and that they are an essential part of our long-term business strategy”. Sandrine Le Biavant, Director Consultancy, Farnek added: "For over a decade the stunning sail-shaped hotel has been an iconic symbol of modern Dubai and its flourishing hospitality industry. Now, with the Green Globe award, the Burj Al Arab . The Burj Al Arab impressed throughout all areas of the operational audit. In particular, the hotel excelled in water usage reduction, grey water recycling, and managing its energy output by regulating room temperature in the suites and carbon footprint. Others areas that came under the scrutiny of the Green Globe audit included health and safety, human resource development, training, procurement and waste management. The hotel’s environmental efforts were also praised. Its Dubai Turtle Rehabilitation Project, launched in 2004 in close collaboration between the Dubai Wildlife Protection Office, Jumeirah Group, Central Veterinary Research Laboratory and a team of specialised veterinarians, has helped to return hundreds of sea turtles back into the wild, with many fitted with satellite tags to allow marine biologists further insight into their migratory patterns. Apart from the sea turtle rehabilitation centre, the hotel management team encourages staff participation in other local community initiatives such as breast cancer awareness campaigns, beach clean-ups and mobile phone collections.

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Page 1: New base special  28 january 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 28 January 2014 Khaled Al Awadi

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

Burj Al Arab awarded Green Globe Certification by Farnek http://www.uaeinteract.com/docs/Burj-Al-Arab-awarded-Green-Globe-Certification-by-Farnek/59678.htm

The luxurious Burj Al Arab hotel in Dubai has been awarded

international Green Globe Certification (GGC) following a

comprehensive sustainability audit conducted by Dubai-based

consultancy Farnek, GGC's preferred partner in the Middle East.

Repeatedly voted the world's most luxurious hotel, Burj Al Arab.

The hotel can now add the Green Globe certification to its long list

of accolades, proving that luxury can be green.

"We are delighted to receive this prestigious recognition that

reinforces our commitment to sustainable practices”, said Heinrich Morio, General Manager at Burj Al

Arab."The certificate is a testament to Burj Al Arab's dedication to ensuring that green policies are at the

heart of our business and that they are an essential part of our long-term business strategy”.

Sandrine Le Biavant, Director Consultancy, Farnek added: "For over a decade the stunning sail-shaped

hotel has been an iconic symbol of modern Dubai and its

flourishing hospitality industry. Now, with the Green Globe

award, the Burj Al Arab .

The Burj Al Arab impressed throughout all areas of the

operational audit. In particular, the hotel excelled in water usage

reduction, grey water recycling, and managing its energy output

by regulating room temperature in the suites and carbon

footprint. Others areas that came under the scrutiny of the Green

Globe audit included health and safety, human resource

development, training, procurement and waste management.

The hotel’s environmental efforts were also praised. Its Dubai Turtle Rehabilitation Project, launched in

2004 in close collaboration between the Dubai Wildlife Protection Office, Jumeirah Group, Central

Veterinary Research Laboratory and a team of specialised veterinarians, has helped to return hundreds of

sea turtles back into the wild, with many fitted with satellite tags to allow marine biologists further insight

into their migratory patterns.

Apart from the sea turtle rehabilitation centre, the hotel management team encourages staff participation

in other local community initiatives such as breast cancer awareness campaigns, beach clean-ups and

mobile phone collections.

Page 2: New base special  28 january 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 2

Arabian Gulf’s oil exporters should embrace hedging Robin Mills , www.thenational.ae/business

Is it better for countries to plunge and soar with the oscillations of global markets? Or to buckle themselves in as they ride the roller coaster?

Both oil exporters and importers are now taking the second option – and trying to protect their massive energy revenues and expenditures. But is it time for major oil sellers in the Arabian Gulf to consider hedging their exposure? Oil makes up about 70 per cent of the Qatari government budget, 90 per cent of Saudi Arabia’s, and 95 per cent of Iraq’s.

Conversely, regarding oil importers, Morocco spent 6 per cent of its GDP on energy subsidies, Jordan 8 per cent and Egypt as much as 13 per cent. These countries are all under severe fiscal pressure, with Morocco and Jordan turning to the IMF and Egypt to concessionary GCC loans.

Although oil prices have been stable over the past three years, averaging about US$110 per barrel, when crisis strikes they can be wildly volatile. In just six months during the 2008 economic upheaval, Brent crude fell from $147 to $34 per barrel. Conversely, with the first oil shock, prices quadrupled between October 1973 and January 1974.

Hedging through the futures markets can be a flexible and attractive way to protect the national budget and economy from such wild gyrations. Countries can hedge by buying options, paying an upfront premium to guarantee a minimum price for their oil exports. Or a “costless collar” involves no premium, but the hedger gives up gains if the oil price rises above a certain level. A third possibility is to use swaps to lock in a set price for some share of exports.

Mexico, a significant non-Opec oil exporter, has been hedging since the early 1990s – inspired not by its national oil company, but by the finance ministry. The country’s finance minister Agustín Carstens hedged the country’s 2009 oil sales, making an $8 billion profit as prices plunged. In 2012, Mexico paid $800 million to $1bn to set a floor of $75 per barrel.

Page 3: New base special  28 january 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 3

Qatar reportedly hedged a quarter of its 2012 sales. Conversely, among the oil importers, Morocco spent some $50m to $60m to fix a maximum price for last year’s fuel purchases. Given its attractions, why do major oil exporters not hedge more often? One reason is that it is often not well understood by Middle Eastern and Asian governments, who regard it as dangerous “speculation”.

In 2008, the chairman of Sri Lanka’s state refining company had to resign after his company was exposed to up to $1bn of hedging losses. Indeed, its hedges were poorly designed and inflexible. But the losses arose because oil prices had plunged – good news for the refiner. And the country’s own central bank had approved the transaction.

For the individual decision-maker, there is an asymmetry of risk. If the chief executive of a national oil company, or an Opec finance minister, chooses not to hedge, they can blame unpredictable markets or shadowy “speculators” for losses. But if they do hedge, any losses will be laid on their desk.

So it may be better for a committee to take collective responsibility. And countries considering hedging should hire or develop top-quality expertise to avoid a repeat of the Sri Lanka debacle.

Hedging programmes should not aim to avoid moderate fluctuations in oil prices. A drop of, say, $10 per barrel can be accommodated by trimming the government budget, borrowing money or selling some liquid sovereign wealth fund investments.

Rather, hedges should guard against market collapses, such as in 2008 – or spikes. Such events are rare enough that insurance against them is not expensive, but, when they do occur, they can be catastrophic for national budgets.

Protecting against unanticipated price movements is not speculation. Much more risky is to accept the vicissitudes of the markets. Robin Mills is the head of consulting at Manaar Energy, and the author of The Myth of the Oil Crisis .

Page 4: New base special  28 january 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 4

Britain’s BG in stand-off over Egyptian gas policy Shereen Al GAzaar ,, www.thenational.ae/business

The British oil and gas company BG Group yesterday issued force majeure notices on its LNG agreements in Egypt because of unexpectedly high diversions of gas to the domestic market. The notice frees all sides from contract terms because of circumstances beyond their control.

In a statement on its website, BG Group said that diversions currently amounted to about 1 billion standard cubic feet of gas per day. However, BG said it “remains committed to the Egyptian LNG project and will continue to negotiate with the Egyptian authorities and other stakeholders to seek a long-term solution.” Egypt accounts for a fifth of the company’s production.

“BG Group usually converts most of its gas production from Egypt into LNG and exports it around the world to Europe, South America and so forth,” said Robin Mills, the head of consulting at Manaar Energy. “But recently the Egyptian government has been pressuring gas companies to meet the increasing local demand. Also it has not been paying money owed to these companies – which affected their investment in new production.”

Page 5: New base special  28 january 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,

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in this publication. However, no warranty is given to the accuracy of its content . Page 5

BG said it expected its LNG shipping and marketing results for last year to be consistent with market guidance. However, its full-year business performance, which excludes disposals, certain re-measurements and impairments, is expected to be flat at US$4.4 billion. Earnings are forecast to be down by about 33 per cent at $2.2bn, or around 65 cents per share, including about $2.4bn of non-cash, post-tax impairments.

“[The tax impairments] reflect the difficult operating environment in Egypt and lower forward gas prices in the US, coupled with lower production profiles in both countries,” BG said. The total operating profit for LNG shipping and marketing for 2014 is expected to be $2.1bn toS2.4bn, lower than in 2013 as a result of a decrease in supply from Egypt.

“There is considerable uncertainty over the number of LNG cargoes that Egyptian LNG will produce in 2014,” the company said. Foreign oil and gas companies have been frustrated by the Egyptian government’s lack of payment, causing some to sell their assets in the North African country.

Last August, Apache sold $3.1bn worth of assets to China’s Sinopec, reducing its exposure to Egypt’s turmoil and political unrest. Mr Mills expects the situation to “drag on” as no apparent solution is on the horizon. “The situation will take years to be resolved, as the local demand is increasing and energy-saving or renewable energy initiatives are only being introduced very slowly.”

He also warned that BG’s action could deter other foreign oil companies operating in the country and affect foreign direct investment in general. Last December, the Egyptian government released payment of $1.5bn to foreign oil and gas companies. The Sharjah-based fuel producer Dana Gas received $53 million, but still awaits $277m of unpaid invoices.

BG Group profits fall 4pc to $1.1bn but beat expectations. Energy giant profits and production drop on ons, Egyptian disruption .

Page 6: New base special  28 january 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 6

UAE mulls natural gas imports from North America http://www.arabianbusiness.com/

The UAE, a Gulf OPEC oil producer, said it was looking at the possibility of importing natural gas from North America, in what would be one of the most striking developments since the start of the US shale boom.

The United States and Canada are producing record amounts of gas from shale rock formations, pulling down North American prices to levels that have attracted the interest of foreign buyers. Around a dozen long-term deals, each worth billions of dollars, have recently been signed behind closed doors between US producers and buyers in China, Japan, Taiwan, Spain, France and Chile as global demand for gas increases.

"We may follow the same trend of considering investments in the United States and Canada to bring some of that gas back home," UAE Oil Minister Suhail bin Mohammed al-Mazroui said on Monday at an energy conference in London. Rapidly rising demand and slow production growth have made the OPEC member a net importer of gas over the past few years.

Page 7: New base special  28 january 2014

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The UAE's Abu Dhabi National Energy Company has already invested in Canada's oil and gas sector but so far has not been publicly involved in North American natural gas export projects. "The United Arab Emirates is seriously thinking about that now," the minister said.

The UAE last year awarded a contract to build a liquefied natural gas (LNG) import terminal at Fujairah on its east coast. It already gets a modest volume of Qatari gas by pipeline, which helps feed its power and desalination plants.

"We have a team in Mubadala as well as in Taqa looking at the optionality. Any investment needs

to go through the vetting of the board of directors, not to me as an energy minister," Mazroui said,

adding that it was premature to give any volume estimates of a potential deal.

NewBase , commentary :-

In this environment, other demand drivers are expected to grow significantly as well. They include liquefied natural gas (LNG) exports, natural gas vehicles, and gas-fired electricity generation.

Of the three, prospective LNG exports have generated the most attention due to the cumulative magnitude of applications to export

LNG - approximately 30bn cubic feet (bcf)/day of LNG capacity, which equates to roughly 50% of current US natural gas demand.

The US Department of Energy's Office of Fossil Energy (OFE) is in the process of determining whether LNG exports are in the

public interest. This decision is important, since approval of LNG terminals essentially locks the country into a set capacity of

exports for decades. These exports could have significant economic consequences because of domestic gas price impacts,

potentially crowding out domestic gas uses and related investments.

Page 8: New base special  28 january 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 8

Kuwait to invest in India ONGC Mangalore and Daheij projects http://www.2b1stconsulting.com/

The national oil companies (NOCs) Kuwait Petroleum Corporation (KPC) and the Indian Oil and Natural Gas Corporation (ONGC) are about to sign a memorandum of understanding (MOU) by which the Kuwaiti company should take share in two major petrochemical projects at at Mangalore and at Daheij in India.

In Mangalore, ONGC Mangalore Petrochemicals Ltd (OMPL) is planning to expand again the refinery and build the largest aromatic complex in India, while in Daheij, ONGC Petro Additions Ltd (OPAL) is working on a multi-billion olefins and aromatics complex.

These downstream projects are part of ONGC Perspective Plan 2030, including also the fourth expansion of the Mangalore Refinery from the current 15 million tonnes to 18 million tonnes per year.

These ONGC projects are intended to help India to catch up with is bubbling domestic demand for more and more advanced hydrocarbon products.

Kuwait is the fourth largest supplier of crude oil to India after Saudi Arabia, Iraq and Venezuela.

With KPC investing in these OMPL and OPAL projects, the two countries expect to somehow balance their exchanges.

Located on the southwest coast of India, in the State of Karnataka, the ONGC Mangalore Refinery and Petrochemical Ltd (MRPL) saw its last expansion completed in 2012.

Now ONGC is considering to increase again capacity with a fourth expansion in order to provide the feedstock to the greenfield aromatics project to be added by OMPL, adjacent to the Mangalore refinery.

In Mangalore, this OMPL Aromatics project should require $1.5 billion capital expenditure and should include:

- The largest paraxylene production unit in India with 900,000 tonnes per year (t/y) of capacity - A benzene production unit with 275,000 t/y of capacity.

According to the terms of the signed agreement and after the completion of the ongoing due diligence study, KPC should buy stake in the ONGC Mangalore OMPL Refinery & Aromatics project so that the working interests should be shared between:

- ONGC 46% is the operator - KPC 26% - Qatar Petroleum andDubai Emirates National Oil Company (ENOC) in the United Arab Emirates jointly 26%

- MRPL 3%

Page 9: New base special  28 january 2014

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in this publication. However, no warranty is given to the accuracy of its content . Page 9

In parallel to ONGC Mangalore project, Kuwait Petroleum is considering to take also 26% working interests in the ONGC Daheij OPAL Petrochemical project.

OMPL Mangalore and OPAL Daheij projects in design

The OMPL Mangalore Refinery and Aromatics project and the OPAL Daheij Petrochemical project are at the design phase.

With more than $5 billion capital expenditure, ONGC is planning to build in the Daheij Special Economical Zone, within the Gujarat State along the northwest coast of India a petrochemical complex including:

- Ethylene cracker of 1.1 million t/y capacity - Swing and dedicated polyethylene production units with 720,000 t/y total capacity of Linear low density polyethylene (LLDP) and high density polyethyelene (HDPE) - Propylene production unit with 340,000 t/y capacity - Benzene production unit with 135,000 t/y capacity - Butadiene production unit with 95,000 t/y capacity

Established in 2006, the working interests in the ONGC Daheij OPAL Petrochemical Complex should be shared between:

- ONGC 26% is the operator - KPC 26% - Gas Authority of India Ltd (GAIL) 15.5% - Gujarat State Petroleum Corporation (GSPC) 5% - Plus at least one additional partner 27.5%

ONGC is still looking for a strategic alliance with a foreign company to take the remaining shares of the project and provide its licences and technology expertise to develop such a large complex in India.

ONGC and Kuwait Petroleum expect the Mangalore Refinery and Aromatics OMPL project and the Daheij Petrochemical OPAL project to come on stream in 2015, but most likely the size and complexity of these projects may delay the first commercial operations to 2017.

Page 10: New base special  28 january 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 10

ONGC inks MoU with Mitsui for O&G opportunities http://www.ongcindia.com/wps/wcm/connect/ongcindia/home/press_release/ongc-inks-mou-with-mitsui

An MoU has been signed between Indian Maharatna Public Sector Enterprise ONGC and Japanese

conglomerate Mitsui & Co., Ltd. on 24th January, 2014 in New Delhi. The agreement was signed by Mr.

Masami Iijima, President and CEO of Mitsui & Co., Ltd. and Mr. Sudhir Vasudeva, CMD, ONGC. The MoU

signing ceremony was attended by senior officials from both the companies.

MoU signed by Masami Iijima, President and CEO of Mitsui & Co., Ltd. (2

nd from left) and

Sudhir Vasudeva, CMD, ONGC (right); ONGC Director (HR & BDJV) K S Jamestin (middle) applauds

The MoU provides for cooperation in Exploration and Production for conventional and unconventional petroleum and natural gas opportunities in India and in third countries.

In August 2012, ONGC and Mitsui had entered into an MoU for wide ranging cooperation in gas and LNG business. Later in March, 2013, Mitsui had entered into another MoU with ONGC, BPCL and New Mangalore Port Trust for feasibility study of a LNG Terminal at Mangalore.

About Mitsui: Mitsui is one of the most diversified and comprehensive trading, investment and service enterprises in the world, with 151 offices in 67 countries as of April, 2013. Utilizing its global operating locations, network and information resources, Mitsui is multilaterally pursuing business that ranges from product sales, worldwide logistics and financing, through to the development of major international infrastructure and other projects in the following fields: Iron & Steel Products, Mineral & Metal Resources, Infrastructure Projects, Integrated Transportation Systems, Chemicals, Energy, Food Resources, Food Products & Services, Consumer Services, Innovation & Corporate Development Business. Mitsui is actively taking on challenges for global business innovation around the world. For more information, visit: http://www.mitsui.com

About ONGC: ONGC is the national oil & gas exploration and production company with interest across the hydrocarbon value chain including LNG terminal, regasification and marketing infrastructure. It is the highest valued and the highest profit making India Public Sector Enterprise. In the financial year ended 31 March 2013, ONGC Group produced 58.7 million tonne of oil and oil equivalent gas (mmtoe) (approximately 1.2 mmboe per day), had a turnover of INR 165,849 Crore (US$ 30.45 billion) and profit

Page 11: New base special  28 january 2014

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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 11

after tax of INR 24,220 Crore (US$ 4.44 billion). ONGC Group had total oil and gas reserves of 1,759 mmtoe as on 31 March 2013. For information visit: www.ongcindia.com

Cobalt Makes Pre-Salt Discovery Offshore Angola http://www.offshoreenergytoday.com/cobalt-makes-pre-salt-discovery-offshore-angola/#.UuYKnp1fpI0

Cobalt International Energy, Inc. has, in partnership with the National Concessionaire Sonangol and the Block 21 partners, announced the first discovery in the Syn-rift interval in the Bicuar #1A Pre-salt deepwater exploratory well offshore Angola.

The well was successfully drilled to a measured depth of 5,739 meters and encountered approximately 56 meters (180 feet) of net pay from multiple Pre-salt intervals. Results of an extensive logging, coring and fluid acquisition program confirmed the existence of both oil and condensate in multiple intervals. No free gas zones or water contacts were observed. All well data was collected via open hole logging technology.

This is Sonangol’s and Cobalt’s fourth deepwater Pre-salt discovery offshore Angola. The Bicuar #1A well is of particular significance as it is the first discovery of mobile hydrocarbons that have been tested in the deeper Pre-salt Syn-rift reservoir. After running production casing, the well was temporarily abandoned. Following full processing and integration of all subsurface data collected from the well, the Block 21 partners will evaluate any additional activities necessary to assess Bicuar’s commerciality. The Bicuar #1A well was drilled to total depth in only 59 days, approximately 63 days ahead of schedule. Cobalt, as operator, owns a 40 percent working interest in Block 21. Partners include Sonangol Pesquisa e Produção, S.A., Nazaki Oil and Gaz, and Alper Oil Limitada.

“The Syn-rift discovery in Bicuar validates the presence of a viable seal and trap with quality reservoir

rocks in the deeper reservoir section,” said James Farnsworth, Cobalt’s Chief Exploration Officer.

“These characteristics have been present in similar features in the Campos Basin of Brazil and will be key

to expanding the potential of the broader Angola Kwanza Basin Pre-salt. We are also excited with how

quickly Bicuar 1A was drilled, while never compromising our commitment to safety and environmental

protection. Continued performance of this type would allow us to drill wells at nearly half the cost we had

anticipated.”

Page 12: New base special  28 january 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 12

West Africa – Gobalt Assets

Through the development of an early geologic regional model, Cobalt had the foresight to acquire several high-potential licenses off the coast of Angola and Gabon, pioneering West Africa’s Pre-salt play.

To date, Cobalt has drilled four wells in the Northern Kwanza Pre-salt Basin offshore Angola, and one well in the Pre-salt deepwater region offshore Gabon. All of these wells have been successful

in finding Pre-salt hydrocarbons. This is a remarkable and a highly unusual start in establishing a position in such an immense new regional play.Off the coast of Angola, Cobalt acquired a 40 percent working interest in, and is the operator of, three blocks—9, 20 and 21—covering a combined 3.4 million acres. Our Cameia #1 discovery on Block 21 confirmed the presence of an expansive Pre-salt hydrocarbon reservoir, proving our geologic model and de-risking the new Pre-salt play in the deepwater offshore Angola. The Cameia #2 appraisal well has provided the validating evidence that allows us to accelerate work toward the sanctioning of an early production system. Our Mavinga #1 Pre-salt discovery on Block

21 mirrored our Cameia Pre-salt discovery from the perspective of fluid and reservoir quality. Our Lontra #1 Pre-salt discovery on Block 20 confirmed an oil and gas accumulation with better than expected reservoir quality. Both the Mavinga and Lontra discoveries provide further evidence that our exploration machine is working and our technology is delivering as anticipated. These results continue to increase our confidence in the numerous follow-on catalytic prospects yet to be drilled in Cobalt’s Angolan pre-salt portfolio.

In Gabon, we have a 21.25 percent interest in the 2.2 million acre Diaba license operated by Total Gabon. Results of our Diaman #1 discovery well successfully confirmed the existence of a working petroleum system. This was the first test of the Pre-salt in deepwater Gabon.

Page 13: New base special  28 january 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 13

Ramform Atlas’ Seismic Vessel Named in Nagasaki, Japan http://www.offshoreenergytoday.com/ramform-atlas-seismic-vessel-named-in-nagasaki-japan/#.UuYOKJ1fpI0

The second vessel in the Ramform Titan class, the Ramform Atlas was named in Japan

today.The ceremony for the new 24-streamer vessel took place at the Mitsubishi Heavy Industries

yard in Nagasaki. The vessel, owned by the Norwegian seismic specialist PGS, will typically tow

a network of several hundred thousand recording sensors over an area greater than 12 km2,

equivalent to 3.5 times Central Park.

According to PGS the Ramform Titan-class is the most powerful and efficient marine seismic acquisition vessel ever and the widest ship in the world at the waterline. Safety and productivity have been the main focus points for her design. Ramform Atlas is the second of four such vessels to be built in Japan. Her sister ship, the Ramform Titan, has been operating very successfully since its delivery in April 2013. The design dovetails advanced maritime technology to the imaging capabilities of the GeoStreamer® seismic acquisition technology. Her 70 meter broad stern is fully exploited with 24 streamer reels: 16 reels aligned abreast and 8 reels further forward. Increased work space and advanced equipment mean safer and

even more robust operations.

“For PGS and its clients, more rapid deployment and retrieval of equipment, as well as greater operational

capacity will translate into faster completion of surveys and increased uptime in marginal weather. The

period between major yard stays is also extended by 50%,” the company says in a press release. The Ramform Titan-class sets the new standard for seismic operations for the next 20 years. Jon Erik Reinhardsen, President and CEO of PGS states in a comment: “The Ramform Atlas takes

Page 14: New base special  28 january 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,

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seismic acquisition to a new level. We have combined the most sophisticated technology in the business,

with the most powerful and most efficient vessel in the industry. The second ship in the Ramform Titan class

further strengthens our fleet and will give us a clear competitive edge for the next decade.”

Ramform Atlas is equipped with 24 reels with capacity for 12 km streamers, which give her tremendous flexibility and redundancy for high capacity operations. She carries over 6000 tons of fuel and equipment. She will typically tow a network of several hundred thousand recording sensors over an area greater than 12 km2, equivalent to nearly 1500 soccer pitches, or 3.5 times Central Park.

Ramform Atlas provides a safe and comfortable living and working environment for up to 80 crew members, with 60 single cabins, and 10 twin cabins for visitors, all with separate bathrooms.

Magne Reiersgård, EVP Operations, states: “We are very excited at the prospect of welcoming the second

Ramform Titan class into operations. We look forward to leveraging the high productivity, efficiency and

safety that this new vessel is expected to bring. We expect Ramform Atlas to set more industry records for

operational efficiency. This is a fantastic day for PGS and a great addition to the fleet.”

Extra details About the Ramform: The new Ramform Titan Class puts PGS further ahead as the leader in safe, productive and efficient 3D seismic acquisition. The latest version of the Ramform design, the Titan Class comprises a four-vessel newbuild program constructed at the Mitsubishi yard in Nagasaki, Japan.

These new vessels provide an enhancement of many established features. The design incorporates an array of new capacity for one single purpose - to collect maximum amounts of seismic data: quickly, safely and reliably. The Ramform Titan (launced 2013) and Ramform Atlas (launced 2014) are designed to extract the full potential from the PGS flagship GeoStreamer® technology.

Safety Efficiency

Increased working and storage space for safer

operations

Stable capacity for over 6000 tons of fuel and

seismic equipment

Automated back deck

2 stern-launched workboats

Triple redundancy in propulsion

Fully separated engine rooms

2 x 40 man lifeboats with Dacon scoop rescue

system

6 source array handling booms

16 lead-in winches

24 tow points

Significantly shorter deployment and rapid retrieval of in-sea

equipment

Repair, maintenance and barnacle cleaning at sea without

interupting production

7.5 years between dry dockings

Performance Comfort

24 x 12km max. capacity 60 single berth, 10 double

Page 15: New base special  28 january 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 15

150 days endurance

Significantly upgraded GeoStreamer® based

seismic package

225 m2 sports hall, ball court, gym, theatres, TV / games

rooms

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]

Khaled Al Awadi is a UAE National with a total of 24 yearsKhaled Al Awadi is a UAE National with a total of 24 yearsKhaled Al Awadi is a UAE National with a total of 24 yearsKhaled 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 Oil & Gas sector. Currently Oil & Gas sector. Currently Oil & Gas sector. Currently

working as Technical Affairs Specialist for Emirates General Petroleum Corp.working as Technical Affairs Specialist for Emirates General Petroleum Corp.working as Technical Affairs Specialist for Emirates General Petroleum Corp.working as Technical Affairs Specialist for Emirates General Petroleum Corp. “Emarat“ with external voluntary “Emarat“ with external voluntary “Emarat“ with external voluntary “Emarat“ with external voluntary

Energy consultation for the GCC area via Hawk Energy Service as a UAE operations base , Most of the experience Energy consultation for the GCC area via Hawk Energy Service as a UAE operations base , Most of the experience Energy consultation for the GCC area via Hawk Energy Service as a UAE operations base , Most of the experience Energy consultation for the GCC area 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 Facilitwere spent as the Gas Operations Manager in Emarat , responsible for Emarat Gas Pipeline Network Facilitwere spent as the Gas Operations Manager in Emarat , responsible for Emarat Gas Pipeline Network Facilitwere spent as the Gas Operations Manager in Emarat , responsible for Emarat Gas Pipeline Network Facility & gas y & gas y & gas y & gas

compressor stations . Through the years , he has developed great experiences in the designing & constructingcompressor stations . Through the years , he has developed great experiences in the designing & constructingcompressor stations . Through the years , he has developed great experiences in the designing & constructingcompressor stations . Through the years , he has developed great experiences in the designing & constructing of gas of gas of gas of gas

pipelines, gas metering & regulating stations and in the engineering of supply routes. Many years were spent pipelines, gas metering & regulating stations and in the engineering of supply routes. Many years were spent pipelines, gas metering & regulating stations and in the engineering of supply routes. Many years were spent pipelines, gas metering & regulating stations and in the engineering of supply routes. Many years were spent

drafting, & compilingdrafting, & compilingdrafting, & compilingdrafting, & compiling gas transportation , operation & maintenance aggas transportation , operation & maintenance aggas transportation , operation & maintenance aggas transportation , operation & maintenance agreements along with many MOUs for the reements along with many MOUs for the reements along with many MOUs for the reements along with many MOUs for the

Page 16: New base special  28 january 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 16

local authorities. He has become a reference for many of the Oil & Gas Conferences held in the UAE local authorities. He has become a reference for many of the Oil & Gas Conferences held in the UAE local authorities. He has become a reference for many of the Oil & Gas Conferences held in the UAE local authorities. He has become a reference for many of the Oil & Gas Conferences held in the UAE

andandandand Energy program broadcasted internationally , via GCC leading satelliteEnergy program broadcasted internationally , via GCC leading satelliteEnergy program broadcasted internationally , via GCC leading satelliteEnergy program broadcasted internationally , via GCC leading satellite ChannelsChannelsChannelsChannels . . . .

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

NewBase 28 January 2014 K. Al Awadi