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June 2011

A Message from StratoChem Services 

 


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(www.rigzone.com - April 28, 2011) 

 

        

     It has always been an axiom of world energy markets that Persian Gulf oil is both easy and cheap to produce. The crude that gushes from the scorching desert sands of Saudi Arabia, for example, is widely thought to cost less than $5 a barrel to produce, compared to the $70 price tag on raising a barrel from deep Atlantic waters.

 

   But many of the Persian Gulf oilfields have been producing for decades, and an increasing number of the newer fields in the region contain heavier and harder-to-extract crudes. Squeezing out the remaining reserves from some existing fields and developing new, more complicated ones will be costlier and will require more advanced technology, according to analysts and oilfield engineers.

  

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BMI: Egypt Could Increase Gas Export by 27%
 
(www.egyptoil-gas.com - May 16, 2011)                                                                         

Iraq Flag       

  

   Egypt has a great potential for exporting gas and could increase its production up to 27.66 percent over the next 10 years, said a report by the Business Monitor International (BMI).

 

   The report said Egypt's gas export is expected to increase to up to 95 billion cubic meters by 2010, compared to about 66 billion cubic meters in 2010. The export would provide a flow of foreign currency and east the import bill, said the report, and titled "The Outlook for the Egyptian Economy until 2020."

 

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Obama Shifts to Speed Oil and Gas Drilling in U.S.

(www.online.wsj.com - May 14, 2011) 

 

   President Obama, facing voter anger over high gasoline prices and complaints from Republicans and business leaders that his policies are restricting the development of domestic energy resources, announced on Saturday that he was taking several steps to speed oil and gas drilling on public lands and waters.

 

     It was at least a partial concession to his critics, who say he has shackled domestic energy development at a time when consumers are paying near-record prices at the gas pump. The Republican-led House passed three bills in the last 10 days that would significantly expand and accelerate oil development in the United States, saying the administration was driving up gas prices and preventing job creation with anti-drilling policies.

 

 

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OTC: Artificial Island Projects Off Abu Dhabi Expand Field Operations

 

(www.ordons.com- May 3, 2011)

 

 UAE Flag

  

   The UAE has turned to artificial islands for facilitating oil-field operations off Abu Dhabi. The three projects currently under way include building one island off Das Island to accommodate oil and gas workers, in compliance with a new UAE camp regulation; two islands for developing the Satah Al-Raaz Boot (SARB) oil field; and at least four islands for expanding production from the Upper Zakum field.

 

     Sherif El-Gharbawy, of Abu Dhabi Marine Operating Co. (ADMA-OPCO) explained the concepts for building the islands in a presentation, "Application of Land Reclamation and Artificial Island Technology in the Arabian Gulf Petroleum Industry," on May 2 at the Offshore Technology Conference in Houston.

            
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Egypt May Extend Fuel-Oil Import Ban Beyond June 30, Shoeib Says

 

(www.egyptoil-gas.com - May 4, 2011)


Egyptian flag small 

 

     Egypt may extend the ban of fuel oil imports beyond June 30 and rely instead on domestic supplies of natural gas for its power stations, an official at the state-run Egyptian General Petroleum Corp. said.

 

    "This will depend on summertime demand for power," Deputy Chief Executive Officer for Operations Mohamed Shoeib said in a phone interview from Cairo. "But our aim is to maximize the use of the locally produced natural gas in generating electricity."

 

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Sonoro Gets Green Light to Commence Asphalt Project in Iraq 

 

(www.rigzone.com - April 25, 2011)  


Iraq Flag

  Sonoro announced that further to the previously announced Management Committee approval of the Company's work program and budget for the first year of the license period in Iraq, the Company has now received an investment permit from the provincial governorate of Salah ad Din allowing the Company to proceed with its asphalt (heavy oil) project. This permit allows Sonoro to immediately commence operations and allows for the importation of necessary equipment and personnel. Finally, this permit sets April 14, 2011 as the commencement date of Sonoro's exclusive five year exploration period as per the License Agreement.

 

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Bears and Bulls Grapple in Oil-Stock ETF

(www.online.wsj.com - May 15, 2011) 

 

     

    Oil bulls and bears continued to jockey for position in the options market, with longer-term oil optimists staking out the session's largest single trade in defiance of crude's tailspin.

 

     In a volatile two week for oil prices, options traders have alternated between bullish "calls" and bearish "puts" in exchange-traded funds tied to crude-producing companies. Crude-oil futures dipped below $100 a barrel again Friday, down precipitously from two-and-a-half-year highs hit early last week. Wild swings in oil prices have brought out hedgers and speculators to the options market with force, with bears generally in control of most trades.

 

 

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Gulfsands Petroleum Announces Oil Discovery in KHE-101, Syria

 

(www.egyptoil-gas.com- May 16, 2011)

    
  Syrian Flag
   

   Gulfsands Petroleum plc, the AIM listed oil and gas production, exploration and development company with activities in Syria, Iraq, Tunisia, Italy and the U.S.A., provides an update on operations in Syria.

 

     Operations have recently been completed on the Khurbet East 101 ("KHE-101") appraisal well. The well has been suspended as a potential future oil production well following a drill-stem test ("DST") that achieved a potentially commercial stabilized flow rate of 447 barrels of oil per day ("bopd") of 34 deg API oil from the Triassic aged Butmah Formation reservoir.

 

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A New Gas Project in West Qantara

 

(www.egyptoil-gas.com- May 16, 2011)

           
Egyptian flag small

    Dana Gas will cooperate with ENPPI and Petrojet to commence the execution of a new project in the West Qantara Concession. The new gas project, Salma Station will be completed at the end of 2012. According to official source, the total investments of this project count for LE 150 million Egyptian Pound.

Qatar Petroleum Signs $100 Million Deal with JX Nippon

 

(www.energy-pedia.com - May 9, 2011)  

     

Qatar emblem  

 

 

      State-owned Qatar Petroleum has signed a 30-year agreement with Japanese company JX Nippon for exploration and production of gas off Qatar's northeastern coast, Qatar Petroleum said on Sunday. Exploration will take place in Block A, an area of 6,173 sq km (2,384 sq miles) off the coast of the Gulf Arab state, the company said.

 

     The agreement is JX Nippon's first exploration deal in Qatar, Makoto Koseki, the company's chief executive officer, said at a signing ceremony in the Qatari capital Doha. JX Nippon. a unit of JX Holdings Inc, pledged an initial investment of $100 million, with the possibility of investing more in the future, Koseki said.

 

     Qatar, the world's largest exporter of liquefied natural gas, recently reached the capacity to liquefy 77 million tonnes of natural gas annually. The Gulf state has placed a moratorium on new development of the North Field, the source of the gas, until at least 2014.

   

 

Issue: 06-2011
Archway Mohamed Ali Wall

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Oil Chart May 2011
Gas Chart May 2011
In This Issue
Mideast Oil Recovery Enters A New Phase
BMI: Egypt Could Increase Gas Export by 27%
Obama Shifts to Speed Oil and Gas Drilling in U.S.
OTC: Artificial Island Projects off Abu Dhabi Expand Field Operations
Egypt May Extend Fuel-Oil Import Ban Beyond June 30, Shoeib Says
Sonoro Gets Green Light to Commence Asphalt Project in Iraq
Bears and Bulls Grapple in Oil-Stock ETF
Gulfsands Petroleum Announces Oil Discovery in KHE-101, Syria
A New Gas Project in West Qantara
Qatar Petroleum signs $100 Million Deal with JX Nippon
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    There are no abstract deadlines occurring in June 2011.
  
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The following conferences occur in June 2011:
   
  • Shale Gas World Asia in Beijing, China - starting 20 Jun 2011
  • World Well Integrity Congress in London, UK - starting 22 Jun 2011
  •  IWAGPR, 6th International Workshop on Advanced Ground Penetrating Radar 2011 in Aachen, Germany - starting 22 Jun 2011

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