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December 2008
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Happy New Year and welcome to our round up of oil and gas news from Deloitte in December 2008. In this edition thought leadership features heavily, indicating that in the run-up to the festive season, Deloitte oil and gas professionals were busy developing ideas and services that will help our industry tackle the challenges facing it in 2009.
- Thought leadership -
Pre-Salt: Potential impacts for the Brazilian economy
Case study
A case study, reviewing the effect
the lower oil prices and the new financial
scenario may have on the developments of the
pre-salt discoveries offshore Brazil, was
presented by Mauro Andrade from Petroleum
Services at the VIII British Chamber of Commerce International Seminar held in
Rio de Janeiro in November 2008.
The presentation combines background information on the Brazilian E&P scenario with production and cost estimates for such offshore developments. Results include NPV, IRR and PVI indicators as well as sensitivity analysis on costs and commodity prices. Calculations where made using our economic modelling tool PetroScope.
Download > Presentation of case study
(PDF, 17 slides, 482KB)
Making informed decisions
Oil and gas transaction services
The last couple months have witnessed a step-change in the oil and gas M&A climate. With the oil price dropping by over 60% and share prices of oil and gas companies
significantly declining, there has been a noted increase in the number of acquisitions
with rumours of new bids arriving on a regular basis.
To keep ahead of the game, download our publication 'Making informed decisions', which gives details of an independent and robust due diligence service offered by our transaction services team. The service provides an industry focused key issues report early in the transaction process which centres on identifying the key value drivers of a proposed acquisition, to allow the Board to make a fully informed decision.
Download
> Making informed decisions - Oil and gas transactions services
(PDF, 16 pages, 1.37MB)
2009 Russian Oil & Gas Outlook Survey
Deloitte survey
Deloitte CIS recently
released the results
of its regular Oil
and Gas CEO Survey,
conducted between
September and
November 2008.
Crucially, the survey this year was performed in the context of some major macroeconomic shifts. Oil prices fell nearly three times, the dollar rate started to go up, and the state is becoming more and more active in assisting companies. Furthermore, while Russian oil and gas giants demonstrated good financial results for the first nine months, nearly all of them announced plans to review their investment projects. Our survey represents the CEO outlook on the industry and the main issues that oil and gas companies will face in the near future.
Download > 2009 Russian Oil & Gas Outlook Survey
(PDF, 16 pages, 706KB)
Deloitte briefing
The recently launched
Deloitte brief, "SEC
Ruling on
Modernization of the
Oil and Gas
Reporting
Requirements",
addresses the
two-part initiative
the Securities and
Exchange Commission
(SEC) launched in
2007 to provide
investors with more
meaningful
disclosures of oil
and gas reserves. Many valuable
opinions were
expressed during the SEC’s in-depth
process. These
opinions offer
insight into the
perspectives and
concerns of
different types of
industry
participants and are
summarized into 10
key themes.
Download > Oil
and Gas SEC Ruling
(PDF, 2 pages, 117KB)
- Technical -
New Zealand Offshore Northland and Raukumara Licensing Round
Executive summary
New Zealand’s Energy and Resources Minister, Gerry
Brownlee, announced the opening of bidding for new
offshore petroleum exploration permits across the
Northland and Raukumara basins on 10 December 2008. A total of
eight blocks, with a combined area of over
66,000 square kilometres, were offered for bidding
under regular tender.
The blocks offered are listed as follows:
| Block name | Basin name | Bidding method |
|---|---|---|
| 1 NORTHLAND | NORTHLAND | REGULAR TENDER |
| 2 NORTHLAND | NORTHLAND | REGULAR TENDER |
| 3 NORTHLAND | NORTHLAND | REGULAR TENDER |
| 4 NORTHLAND | NORTHLAND | REGULAR TENDER |
| 5 NORTHLAND | NORTHLAND | REGULAR TENDER |
| 6 NORTHLAND | NORTHLAND | REGULAR TENDER |
| 1 RAUKUMARA | EAST COAST - RAUKUMARA | REGULAR TENDER |
| 2 RAUKUMARA | EAST COAST - RAUKUMARA | REGULAR TENDER |
Bid documents were made available from 10 December 2008 and the deadline for regular tender is 28 January 2010. Proposed staged work programmes for any blocks must meet the following minimum requirements:
- carry out a regional 2D seismic survey;
- carry out a 3D survey to define a drillable location;
- drill one well within the first four years – with a commitment to drill being made to the Minister at least one year prior to the drilling of the well; and
- report and present a full review of the basin potential.
Map: Blocks offered under the Offshore Northland and Raukumara Licensing Round 2008. Source:
PetroView
The blocks on offer are now available in the December release of PetroView Asia Pacific.
Updated oil and gas maps
Wall
and pocket maps
depicting recent upstream
activity
In December, we
published a swathe
of new maps. You can
download and print
these maps at no
cost:
- Asia Pacific (wall map, A1, PDF, 3.4MB)
- Asia Pacific (pocket map A3, PDF, 2.6MB)
- North West Europe (pocket map, A3, PDF, 2.9MB)
- Russia (pocket map A3, PDF, 3.1MB)
- South America (pocket map A3, PDF, 1.5MB)
- South Asia (wall map A1, PDF, 2.8MB)
- South Asia (pocket map A3, PDF, 2MB)
(South Asia wall map)
Our entire range of wall and pocket maps, covering much of the world, are available on our website. To request a printed copy, please fill in our contact us form stating clearly the maps you require.
- Topical -
Events
We will be exhibiting at the following event in January. Please visit us at our stand to review our latest products and services.
PetroTech 2009
- Date: 11 - 15 January 2009
- Booth: A100 in Hall No. 14
- Location: Pragati Maidan, New Delhi
- Country: India
- Website: www.petrotech2009.org