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| Monthly Newsletter |
September 2009
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Welcome to September's edition of Bright Spots, our round up of oil and gas news in Deloitte. We are happy to report on the success of our 'Doing Business in the Black Sea region' seminar and give you an opportunity to discover the region through the presentations we have made available. There is no escaping the continual links to the economic climate, and expanding on last month's articles, we look into the importance of future planning of cost structures in the oil and gas sector, as well as the impact the economy has had on the U.S. refining industry. A wide number of our wall and pocket maps have been updated, giving you an insight into much of the globe's oil and gas producing countries. This insight is expanded through the licensing reports available for Russia, Romania and Liberia. Finally, we would like to invite you to the SEG's International Exposition and 79th Annual Meeting, where we will be exhibiting.
- Thought leadership -
Doing business in the Black Sea region
An area of hydrocarbon potential and investment opportunities?
On 22 September, Petroleum Services hosted the most recent of our 'Doing business in oil and gas' seminars looking into the Black Sea region. The event included the following presentations:
- Black Sea region: an overview - Camilla George, Deloitte Petroleum Services
- Fiscal provisions for Romania/Bulgaria - Rodica Segarceanu, Deloitte Romania
- A sub-surface perspective - Dr Stephen Wright, Gaffney, Cline & Associates
- An operator's perspective - Vedat Aydemir and Hüseyin Ekim, TPAO
- Upstream industry challenges - Valentin Kunev, BBSPA
The event was well attended by over 40 industry professionals.
More > Visit our website to download 'Doing business in the Black Sea region'
(PDF, 79 slides, 7MB)
Top
Hard times, new solutions
How the oil and gas industry can develop sustainable solutions to volatile pricing dynamics
It is important for oil and gas companies to take a long-term outlook on their business in order to withstand the sector's cyclical nature. Future planning is essential to survive in the short-term, as well to be in a position to take advantage of eventual upturn in the industry. Response to the recent volatility has begun with cutting costs quickly allowing companies to stay afloat. Many, however, are not planning for or developing sustainable cost reduction programmes, nor aligning these changes with long-term strategies.
Download > Hard times, new solutions
(PDF, 10 pages, 84.9KB)
Tsunami of change
The effect of the economy on the U.S. refining industry
The golden age of refining ended last year when oil prices surged and the economy sunk into recession. Despite thoughts that the recession is likely to end by early next year, the recovery for U.S. refiners is going to take longer. What had been a profitable industry running at reasonable operating costs, will see higher costs, steadily declining demand and excess capacity. With the sudden changes in gas demand, a mandate of change was pushed and resulting legislation will have significant impact on the U.S. refining industry.
Download >
Tsunami of change
(PDF, 12 pages, 286.1KB)
- Technical -
Updated wall and pocket maps
Now available
We have recently updated the following wall maps:
- Africa
- Middle East
As well as the following pocket maps:
- Asia Pacific
- South Asia
- Russia
- Black Sea
- Africa
- South America
- NW Europe
- Middle East
(Asia
Pacific pocket map)
The entire range of wall and pocket maps, showing near global coverage
of the world's oil and gas producing countries, is available on our
website at no cost. To request a copy, please fill in our contact us form stating clearly the maps you require.
More > Wall maps
Licensing Rounds
Russia
The Ministry of Natural Resources of the Russian Federation (MNR) published a list of blocks offered for geological study at the expense of licensees. There are 92 insignificantly explored and unexplored oil and gas blocks, with the majority located in the Khanty-Mansiysk Autonomous Area.
A geological study licence grants the holder non-exclusive rights to undertake prospecting activities and appraisal operations in respect of a discovery.
The deadline for applications is 9 October 2009.
More > Blocks on offer for geological study
Romania
The National Agency for Mineral Resources (NAMR) launched the 2009 Internal Bid Round on 3 September 2009. The round includes 30 exploration blocks, 19 onshore blocks and the remaining 11 blocks located offshore in the Black Sea.
Bids close on 30 December 2009 at 15:00 (Bucharest local time),
with offers to follow terms and conditions set by the agency.
More > 10th Romanian Bidding Round
Liberia
The Third Offshore Petroleum Licensing Round was launched on 27 August
2009 by Liberia's Ministry of Lands,
Mines and Energy (MLME) and the
National Oil Company of Liberia (NOCAL). The five blocks open
for bid are located approximately 300km south-west of the Liberian capital of
Monrovia, in water depths reaching 3,500m. Bids close on 30
November 2009, with the bid opening ceremony being held on 1 December
2009.
More >
Third Liberian Offshore Petroleum Licensing Round 2009
- Topical -
Events
SEG International Exposition and 79th Annual meeting
The Society of Exploration Geophysicists will present the International Exposition and 79th Annual Meeting in Houston. Petroleum Services will be exhibiting at this event and would be delighted if you would visit us at our booth, number 2954.
- Date: 25-30 October 2009
- Location: George R. Brown Convention Centre, Houston
- Country: United States
- Booth: 2954
More > SEG: International Exposition and 79th Annual meeting
In this issue:
Doing business in the Black Sea region