Subscription accessBright spots
| Monthly Newsletter |
March 2009
|
Welcome to March's edition of Bright Spots, our round up of oil and gas news in Deloitte. This month we take a look at recent changes seen in the relationships between IOCs and NOCs and their roles within the industry, as well as the recent tax changes announced by President Barack Obama relating to the oil and gas industry. We are pleased to report the opening of licensing rounds in Jordon, Norway, South Africa and Russia, as well as results of the bidding in GOM. We are exhibiting in two high profile conferences in Indonesia, the 33rd Annual IPA Convention and Exhibtion and SEAPEX Exploration Conference, and will be delighted if you can visit us at our booth.
- Thought leadership -
Open for business: a review of E&P activity in Africa
APPEX 2009
On 5 March 2009, Anna Andersen, MEA Senior Manager with Petroleum Services, presented on recent E&P activity in Africa during the Africa and Mediterranean session on day three of APPEX. Speaking alongside Neftex, Petro-Canada, TGS and EastMedCo, Anna reviewed Africa's new ventures, licensing rounds, drilling, discoveries and developments in 2008, as well as focus areas for upstream activity in 2009.
Download > APPEX - Open for business: a review of E&P activity in Africa
(PDF, 33 pages, 1.31MB)
Top
IOCs and NOCs at a turning point
Fuelling the world tomorrow
Over the past several years, record oil prices, coupled with a re-emergence of resource nationalism, have fuelled the growth and expansion of several National Oil Companies (NOCs). In many situations, NOCs are no longer motivated to enter into equity-based contracts with International Oil Companies (IOCs) and many NOCs, such as Asian NOCs, have expanded their operations by seeking resources beyond their traditional borders. As a result, IOCs have found it more difficult to replace reserves and their long-term business plans were called into question.
Download > IOCs and NOCs at a turning point
(PDF, 20 pages, 5.43 MB)
Top
Key tax issues
President Obama's plan to bankroll middle-class tax relief included significant increases on the oil and gas industry
President Barack Obama sent Congress an outline of a fiscal 2010 budget on 26 February 2009 that puts in motion his campaign promises to provide tax cuts to working families while imposing significant tax increases on businesses and upper-income individuals, closing perceived corporate loopholes and limiting tax benefits for companies that move jobs overseas.
President Barack Obama continues to outline the changes relating to the energy industry, including calling for the elimination of tax preferences for the oil and gas industry.
- Technical -
Licensing rounds
This month sees the opening of licensing rounds in Jordon, South Africa, Russia and Norway, whilst awards have been announced in Gulf of Mexico.
Licence round opening
Jordan
The Jordan 2009 Licensing Round was opened on 1 March 2009 by The Natural Resources Authority of Hashemite Kingdom of Jordan, with two licences available under Production Sharing Agreements (PSA): Northern Highlands Licence (7,4542) in northern Jordan and Jafr and Central Jordan Licence (19,156km2). The round is expected to close on 31 May 2009.
More > Jordan 2009 Licensing Round
More > The NRA International 2009 Bid Round
South Africa
The Fourth South African Licensing Round was opened on 15 March 2009 by South Africa's Petroleum Agency for the Promotion of Petroleum Exploration and Exploitation, making two under explored areas available for bidding: Orange Basin Deep Water Area (43,000km2) and the Tugela Area (48,798km2) with both licences being divided into smaller quarter degree blocks. The round is expected to close on 30 September 2009.
More > Fourth South African Licensing Round More > Petroleum Agency SA: Licence Round 2009
Norway
On 9 March 2009 the Ministry of Petroleum and Energy announced blocks available in the Awards in Predefined Areas (APA) 2009. The blocks are located in the North Sea, Norwegian Sea and Barents Sea. The APA 2009 comprises the same predefined areas as the APA 2008, with no expansion. Awards are expected late 2009/early 2010.
More > Norway: Awards in Predefined Areas (APA) 2009
More > Ministry of Petroleum: Announcement APA 2009
Russia
During March, the Subsoil Management Agency of Khanty-Mansiysk Autonomous Area announced an auction to be held 14 May 2009. Six hydrocarbon blocks are being offered with a 25 year exploration and production licence; all blocks lie within West Siberia Basin. All offers are to be submitted by 18 April 2009.
More > Russia: Blocks offered Khanty-Mansiysk Autonomous Area
Announcement of licence round awards
Gulf of Mexico
The United States Department of the Interior
Minerals Management Service (www.mms.gov) held the Central Gulf of Mexico (CGOM) Lease Sale 208
on 18 March 2009, in downtown New Orleans,
More > Central Gulf of Mexico Lease Sale 208
More > MMS: Central Gulf of Mexico Lease Sale 208
Top
- Training -
Industry training
In April, we are holding our Power of gas training course; essentials of gas and LNG.
Date: 27-29 April 2009
Location: Deloitte, 2 New Street
Square, London
Our other industry training courses include:
- On the map - practical training in ESRI ArcGIS for oil and gas professionals
- Future potential - integrated evaluation of upstream hydrocarbon assets
More > Visit our industry training pages to find out more Top
Top
- Topical -
Events
SEAPEX Exploration Conference 2009
We are sponsoring the SEAPEX Exploration Conference 2009 and will be exhibiting at the event. Date: 20-24 April 2009 Location: Orchard Hotel, Singapore
More > SEAPEX Exploration Conference 2009
33rd Annual IPA Convention and Exhibition 2009
We are exhibiting at the 33rd Annual IPA Convention and Exhibition. Please visit us at our booth to review and latest products and services.
Date:
5-7 May 2009
Location: Jakarta Convention Centre, Indonesia
Booth: M-143,
Main lobby