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| Monthly Newsletter |
July 2009
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Welcome to July's edition of Bright Spots, our round up of oil and gas news in Deloitte. This month we take a look at the presentation given by Graham Sadler at the recent World Oil Forum, the introduction of a new economic regime for export-oriented oil and gas operations in Azerbaijan, as well as the recent press coverage on this year's oil and gas statistics in the North Sea. We are happy to announce the official launch of PetroView Black Sea and the recent inclusion of Spain, Portugal and Turkey into PetroView North Africa. In this issue, we also report on current licensing rounds in North Africa, South Asia, Middle East, GOM and Russia. Finally, we would be pleased to see you at our booth, number three, at the Houston Geological Society Technofest on 13 August 2009.
- Thought leadership -
World Oil Forum
Deloitte analysis
On 15 July 2009, Graham Sadler, managing director of Petroleum Services,
delivered a talk at the 20th World Oil Forum highlighting the issues
faced by the independent sector in upstream oil and gas in the current
economic climate. The talk included a review of the economic
macro-environment in light of today's market conditions, a summary
of the sector's performance, a discussion of issues and strategies, as
well as examples of recent M&A activity and re-financing options.
Download > Independents: Industry outlook 2009 and beyond
(PDF, 24 pages, 4.75MB)
Top
Azerbaijan oil and gas regime
Azerbaijan introduces preferential regime for oil and gas industry
A new special economic regime for export-oriented oil and gas
operations became effective on 17 April 2009. The regime will apply
for 15 years and may be extended for a longer period by Parliament.
The special economic regime is designed to create simplified fiscal,
customs, currency and employment regulations for contractors to serve
oil and gas projects performed outside Azerbaijan. Therefore,
application of the regime to existing projects within Azerbaijan,
including Production Sharing Agreements (PSA) and Host Government
Agreements (HGA), is specifically prohibited.
The law defines export-oriented oil and gas activities as any supply of
work, services and goods in the territory of Azerbaijan in connection
with oil and gas projects undertaken outside Azerbaijan. Oil and gas
operations include exploration, valuation, production, stabilization,
preparation, refining, storage, loading, transportation and the sale
and purchase of crude oil and natural gas.
Download > World Tax Advisor (pages 1-3)
(PDF, 10 pages, 87.7KB)
North Sea oil: shocking statistics
North Sea drilling statistics
9 July 2009 saw the release of Deloitte's North West Europe Review,
showing that drilling operations within the UK Continental Shelf have
more than halved in the last 12 months. In contrast, the Norwegian
sector has experienced growth of 50%.
Graham Sadler, managing director of Petroleum Services, and Derek Hendersen, Tax partner in Aberdeen, were both interviewed by The Wall Street Journal, The Independent, Bloomberg and Reuters.
More > The Wall Street Journal: Norway's pumping, Britain's lagging
More > The Independent: Drilling for North Sea oil and gas slumps by 57%
More > Bloomberg: UK North Sea exploration wells decline 57%
More > Reuters: North Sea oil, gas drilling halves
Contact > Robyn Fowler for more information on the North West Europe Review
- Technical -
PetroView Black Sea launch
We are pleased to announce the official release of the PetroView
Black Sea dataset. Coverage for this dataset includes: Turkey, Ukraine,
Romania, Bulgaria, Georgia, Armenia, Moldova and Russian Black Sea.
The dataset will be updated quarterly for the remainder of 2009, with monthly updates from the beginning of 2010.
PetroView Black Sea contains standard cultural data layers (bathymetry, coastline, cities, roads, provinces and rivers), in addition to the standard attribute tables: licences, fields, wells, pipelines and facilities. A prospects table is included in the catalogue.
The dataset is available on the MapInfo and ESRI ArcView GIS platforms.
More > PetroView Black Sea coverage
PetroView North Africa
Country additions
We are delighted to announce
the addition of Spain, Portugal and Turkey to the PetroView North Africa
dataset. This marks the start of the expanding dataset which will
incorporate the entire Mediterranean region.
Licensing rounds
This month sees the launch of a number of licensing rounds across the globe.
North Africa
Within North Africa we see
Algeria
announce the Second National and International Licensing Round, opening
up acreage across ten perimeters to bidding. Egypt has launched
its 2009 International Bid Round, Egypt General Petroleum
Corporation
are offering eight exploration blocks in the Gulf of Suez and
Ganope are offering three
exploration blocks in the South of the Gulf of Suez and Eastern
Desert.
More > Algeria: Second National and International Licensing Round
More > Egypt: International 2009 Bid Rounds
South Asia
South Asia sees the announcement of pre-qualified bidders in Afghanistan
and the launch of 53 blocks in Pakistan. The
First Afghan Hydrocarbon
Bidding Round 2009, launched in March has seen eight companies
announced as pre-qualified bidders. Bids are to be submitted by 15
September with results expected 5 October 2009.
More > Afghanistan: Pre-qualified companies for the First Afghan Hydrocarbon Bidding Round 2009
Pakistan is launching 53 onshore blocks for offer in conjunction with Petroleum Exploration Promotion Conference 2009 (PEPC) in July 2009. Bids are to submitted by 31 August 2009.
More > Pakistan: 53 Blocks offered at Pakistan's PEPC 2009
Iraq
On 7 January 2008 the Iraqi Ministry
announced a highly anticipated
First
Iraqi Petroleum Licensing Round, which consisted of six oil fields
and two gas fields. After 35 companies had been
pre-approved for the contracts and 31 bids submitted for eight fields,
the final awards took place on 30 June.
Only one licence was awarded, the 17bn bbl Rumaila field, to a consortium of BP and CNPC.
More > Results First Iraqi Petroleum Licensing Round
Western Gulf of Mexico
The
Western Gulf of Mexico Lease Sale 210 is to be held
in New Orleans on 19 August 2009. The proposed Lease Sale encompasses approximately 3400 unleased
blocks in the Western Gulf of Mexico Planning Area (WPA).
Bids must be submitted by 18 August 2009, the day before the lease sale.
Russia
Blocks have been put on offer in the following regions across Russia:
- Samara region: four blocks on offer.
- Yamalo-Nenets Autonomous Area: two blocks on offer.
- Republic of Bashkortostan: three blocks on offer.
The following awards have been granted:
- Tomsk Region: Kargasokskiy-2 block awarded to CH Gasproduction LLC.
- Tomsk Region: Korovinskiy block awarded to EvroSeverNeft LLC.
- Sakhalin Region: Vostochno-Goromayskiy block awarded to Tomgazneft LLC.
Finally, auctions have been cancelled in the Tomsk Region, Khanty-Mansiysk Autonomous Area and the Republic of Sakha.
More > Russia licensing rounds and awards
- Topical -
Events
Houston Geological Society Technofest
Petroleum Services will be exhibiting at this year's HGS Technofest
Exhibition, we would be delighted if you would visit us at our
booth.
Date:
13 August 2009, 1430-2030
Location: Westin Galleria, Houston, Texas
Booth: Number three