New base special 30 september 2014

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NewBase 30 September 2014 Khaled Al Awadi

NewBase For discussion or further details on the news below you may contact us on +971504822502 , Dubai , UAE

UAE & Saudi Arabia sustain economic growth Saudi Gazette + NewBase

• Kingdom headline PMI in August hit its highest level in over 3 years • UAE August 2014 PMI set a new record at 58.4 • PMI data indicates that MENA has still the same leaders and same laggards There is sustained economic growth in the UAE and Saudi Arabia, as compared to other countries in the MENA region, the latest Crédit Agricole Private Banking research report ‘Macro Comment – Eastern Promises: MENA Update’ revealed.

“With a new PMI record in the UAE, once again new orders and new export orders components reflected strong growth, while job creation was sustained. Similarly, there was also a new PMI record in Saudi Arabia as output expanded along with new orders,” said Dr. Paul Wetterwald, Chief Economist, Crédit Agricole Private Banking. “Demand in the UAE and Saudi Arabia was reported as strengthening, both at home and abroad. Interestingly, PMI data recorded over a

period of time have clearly indicated that the MENA region still have the same leaders (UAE, Saudi Arabia), and same laggards (Egypt, Lebanon) in terms of economic performance,” he added. In the UAE, the August 2014 PMI set a new record at 58.4. Input costs rose, as well as output prices charged by companies. This could extend the upward trend witnessed in CPI indices (+2.3 percent year-on-year in the UAE in July, +3.4 percent in Dubai). While in Saudi Arabia, the August headline PMI (non-oil private sector economy) of 60.7 was at its highest level since July 2011. The most recent data in the PMI series lead to an optimistic assessment relative to the growth over H2 2014.




In this context, the latest Saudi Arabia Monetary Authority (SAMA) statistics comfort us in our estimate of a Q2nominal GDP growth in the range of +10 percent year-over-year. Some increases were noticed on the price front. This was true for purchase prices and for staffing costs. At the CPI

level, inflation declined slightly to +2.6 percent year-on-year in July. On its side, Egypt’s PMI is on a jig-saw path since the spring. After its July contraction, the index rebounded in August above the 50 expansion/contraction divide, to 51.6. Last month witnessed output, new orders and new export orders’ expansion. Despite these positives, had there been a computation of a Misery Index for Egypt (that is the sum of the unemployment rate and the inflation rate), it would certainly have resulted in a deteriorating figure.

Actually, the employment component of the PMI survey contracted, while input and output prices increased. As expected, July’s energy and subsidy cuts dampened the purchasing power of households – the August CPI hit a 38-months high at +11.5 percent year-on-year. While all of the cascading effects of the subsidy cuts have certainly not pervaded to the CPI numbers yet, the recent softening of world food prices (the FAO food price index is down 3.5 percent year-over-year and 3.6 percent month-on-month) will bring some short-term relief to the cost of living, knowing that food items are weighting some 40 percent of Egypt’s consumption basket. Dr. Paul Wetterwald said “beyond a short-term perspective, inflation risk is biased to the upside in most MENA countries. This applies for countries with high activity levels (Saudi Arabia and UAE), or for countries with risk of currency weakness (Egypt). On the other hand, the uncertainty of food price evolution adds to the risks of all MENA countries.”.




UAE's Dana Gas wins gas exploration deals in Egypt By Reuters + NewBase

UAE-based energy firm Dana Gas said on Monday that it had been awarded exploration deals for two onshore gas blocks in Egypt. The company will operate the North El Salhiya onshore concession area, known as Block 1 and will partner with British company BP to explore El

Matariya, Block 3, on a 50:50 ownership basis, it said in a statement.

"Under the terms of the agreement, BP will fund all of the cost, including Dana Gas's share, of one exploration well up to an agreed maximum limit," Dana said.

If the well proves commercial, BP will have the option to buy up to 50 percent stakes in Dana Gas' adjacent development leases, it said.

Block 1 is an extension of Dana Gas' existing conventional gas production

business in Egypt, the company said. The new deals are part of the 2014 EGAS bidding round held late last year in Egypt.

Dana Gas, which relies on Egypt for over half of its output, said in August it expected to recover the vast majority of overdue payments which the Egyptian government owes it by 2018.

Dana has had problems recovering payments from exploration and production assets in Egypt and Iraqi Kurdistan because of political turmoil in those places.

At the end of June, the company was owed $297 million in Egypt and $650 million in Kurdistan, it said.

UAE-based companies such as Dana Gas have been capitalising on good relations between the UAE and Egypt's army-backed government, which is trying to attract foreign investment.

Political turmoil and violence since a 2011 revolt which ousted Egyptian leader Hosni Mubarak has hit the economy hard. The government has struggled to pay foreign companies for gas and work on some major new gas projects has ground to a halt at a time when generous state subsidies are stoking growing demand.

BP, one of the largest foreign investors in Egypt, said last year it had found offshore gas in Salamat, the deepest well ever drilled in the Nile Delta. BP has said it remains committed to Egypt and to its major investment in the existing West North Delta project despite delays.




UAE firm plans to invest $700m in Duqm fertiliser project Oman Observer + NewBase

The UAE’s Ghantoot Group, a well-diversified corporation with commercial interests spanning infrastructure development, engineering services, utilities and transport, has outlined plans to invest around $700 million in a bio-fertiliser plant proposed at the Special Economic Zone (SEZ) in Duqm.

The proposed venture is part of a growing portfolio of investments planned by the Abu Dhabi based group in the Sultanate. They include several utility and hospitality projects first unveiled in 2012 and currently awaiting the necessary clearances and other support from Omani government authorities before they can be progressed through to implementation. Once completed, these projects will create jobs of Omanis and contribute to the local GDP.

Earlier, the Ghantoot Group had announced a commitment of $500 million which, with project financing, would cross over $1 billion over three years. It would also create direct employment of 300 jobs and indirect employment of at least another 1000.

Ghantoot has also since then actively participated in Oman’s tenders for infrastructure developments such as roads and has been a low bidder with high technical qualifications totalling nearly RO 200 million. The experience of implementing billions of dollars of infrastructure projects in time, quality and also at the lowest tendered prices comes from the huge resources, including plant and machinery available with the Group, considered to be one of the largest in the Middle East.

Rashid al Balooshi, Managing Director of Ghantoot Group, said the Group is currently in discussion with government bodies in Oman to complete the projects quickly. “We are pleased to be investing in Oman at a time when the government is undertaking rapid modernisation efforts to drive the economy forward. I am confident that our initiatives would contribute for a positive change in the country’s development.”

Ghantoot Group is an organization which has varied business interests and

has always come up with innovative business ideas. From civil works to

electrical projects, marine works to landscaping and irrigation,

pharmaceuticals to interior designing, Ghantoot Group is dedicated to

turning imaginative ideas into leading products and services. It is managed

by a team of highly motivated and committed professionals who have

proven their expertise in their relevant discipline.




The proposed bio-fertiliser facility at Duqm, integrated with captive power and carbon capture, will help both the agriculture and oil and gas EOR, according to the company. In addition, the project has a 45000m3/day SWRO facility that will provide potable and process water cheaper than the present procurement processes in Oman without off-take guarantees.

The initiatives would reduce the direct long-term liabilities of guaranteed off-take on the Omani government of at least $1billion from its books as direct and contingent liabilities thus reducing the effect on the country’s long-term credit ratings.

Utico, the leading private utilities developer and operator, is part of the Ghantoot Group of companies and has been propagating the model of non-off-take model of Utility development in Oman and all over the world for the past eight years. Recently, over 116 companies took part in their massive 22MIGD solar-powered desalination plant, which is a benchmark for such developments.

Ghantoot recently booked orders of over $5 billion, making it the leading infrastructure company in the region today.




GCC ports expansion lags booming trade demand Gulf Times + NewBase

Multibillion dollar investment into the region’s ports and plans for GCC-wide multimodal transportation systems are well underway, however the immediate challenge of logistics management seems occupying the minds of regional port owners and operators as trade demand outpaces physical expansion.

According to the Agility Logistics Emerging Markets Index 2014, the GCC (Gulf Co-operation Council) countries, along with Jordan, are riding high in the table of international locations offering favourable conditions for business and trade. In this year’s index, Saudi Arabia climbed one place to third spot, with the UAE at number six followed by Qatar, Oman, Kuwait and Bahrain at 12, 13, 18 and 22 respectively.

This has been achieved as a result of ongoing committed infrastructure spend, with the index also noting that Qatar and Oman, joined by Chile, make up an ‘elite’ group as small economies that are outperforming both their peers and larger emerging economies based on the strength of their accessibility, vibrant service sectors and world-class transportation infrastructure.

The “tightrope” between booming trade demand and current overall port capacity in the region, as witnessed by growth of 15.4% since 2013, will headline a panel discussion at the Seatrade Middle East Maritime conference, to be held under the patronage of Sheikh Hamdan bin Mohamed bin Rashid al-Maktoum, Crown Prince of Dubai.

“The GCC has at least 35 major ports and is pursuing an ambitious expansion strategy as the logistics sector, and burgeoning non-oil trade, continue their growth trajectory to further position the region, and its key ports, as a global hub for trade between Europe, Africa and Asia,” said Chris Hayman, chairman, Seatrade, organiser of Seatrade Middle East Maritime, which is participating in the Dubai Maritime Week, hosted by Dubai Maritime City Authority (DMCA) in Dubai from October 28-30.

In 2013, the UAE’s non-oil trade grew by 5% to $435bn with the Federal Customs Authority (FCA) reporting total trade exports registering around $50bn in 2013 with re-exports growing by 11% to touch $121bn.

“Petrochemicals aside, the region is seeing huge movement in gold, automotive, precious gems, telecommunications hardware, crude aluminium, copper products, iron scrap and a wide array of items both for import and export, and so its ports play a pivotal role in global trade movement,” said Hayman.




“Global container movements are not slowing down and the order book for ultra-large container vessels is also growing, so this is where regional infrastructure investment has had to rewrite the book in terms of new operational requirements and the development of an integrated network of next generation facilities in order to handle the estimated $35bn value of the GCC logistics sector,” he added.

In addition to approximately

$36bn worth of sector investment, regional economies are set to benefit from the proposed GCC rail network, which will connect key locations from Saudi Arabia to Oman.

Industry estimates suggest that with port expansion

programmes reportedly set to increase regional capacity to more than 65mn TEU

(twenty-foot equivalent unit) by 2016, new industrials zones such as the $7.2bn phased Khalifa Industrial Zone Abu Dhabi (KIZAD) and Jebel Ali’s recently

debuted Terminal 3, with its connectivity to the Dubai World Central super-hub, already providing welcome relief and much-needed facilities.

The expansion tally includes Abu Dhabi’s Khalifa Port, with its $5mn terminal scheduled to open in 2015; Oman’s $4bn Sohar Industrial Zone which will be linked to the GCC rail network, and the $143mn sea-air hub expansion at Salalah.

Saudi Arabia is active with a series of ongoing projects including the $750mn second terminal at Dammam’s King Abdulaziz Port; two further terminals totalling $40mn for King Fahd Industrial Port in Al Jubail; and the soon-to-be-unveiled Portside Logistics Facility at Jubail Commercial Port.

In Qatar, the new $7bn mega-port located close to Mesaieed Industrial Zone will be up and running in 2016 while Kuwait’s contentious $1.2bn, 60-berth Mubarak al-Kabir seaport (Boubyan) is reportedly set to be privatised according to a Kuwait Financial Center (Markaz) report.




Medco Energi Finds Oil, Gas in Indonesia, Libya Source MedcoEnergi + NewBase

Indonesia’s Medco Energi on Monday said it has successfully explored and discovered additional oil and gas from the Hijau-2 well in South Sumatera Block, Indonesia and from the O2 well in Area 47, Libya.

The Hijau-2 delineation well, located in the South Sumatra PSC, was drilled to a vertical depth of 5,695 ft. (1,736 meters), proving a 35-meter gas column in the Baturaja limestone formation. A Drill Stem Test confirmed a gas flowrate of 5.05 million standard cubic feet per day (MMSCFD).

MedcoEnergi described the well as a “prospect opener” in the still prolific South Sumatra basin, where the company has substantial acreage.

“This discovery is assessed as commercially viable, South Sumatera being an area with existing infrastructure and high gas demand. It will increase the company’s gas production for the domestic market,” Medco said.

Also, the O2 Well in Area 47 in Libya was spudded on 23 May 2014 and drilled to a total depth of 10,780 feet. Initial tests demonstrated the well flowing 3,300 barrels of oil per day and 140,000 standard cubic feet per day of gas.

Furthermore, on 17 September 2014 the Government of Libya declared the commerciality of B, C and J structures in Area 47. MedcoEnergi, with its partners National Oil Corporation (NOC) Libyaand Libyan Investment Authority (LIA), will commence this development together with the A, D and F structures, previously declared commercial in 2011.

Combined, the total estimated oil and gas recoverable reserves is 250 MMBOE, Medco said.




Yemen LNG fully operational LNG World News Staff

“Yemen LNG confirms that it is fully operational in Sana’a and Balhaf with plant operations, including LNG exports, continuing as normal,” the company said in a statement without

providing any further details.

Yemen LNG, the operator of the country’s only liquefaction plant, said on Friday that the facility is fully operational.

Earlier this year, it was reported that Train 1 at the Yemen LNG plant was scheduled for a 10 day maintenance in September.

The company did not reply to an LNG World News email seeking comment regarding this matter.

The Yemen LNG project, which consists of two liquefaction trains with a total capacity of 6.7 Mtpa, has three long-term contracts to supply LNG to GDF Suez, Kogas and Total Gas & Power.




Camac reports ‘monumental’ increase in P50 resources in Nigeria Press Release,

CAMAC Energy Inc. has announced an updated independent assessment of the company’s

prospective resources for four offshore Nigeria prospects.

The prospects are located within Oil Mining Leases (“OMLs”) 120 and 121. The assessment was done by

DeGolyer and MacNaughton (“D&M”) and it has increased the company’s unrisked P50 recoverable

resources (having a 50% certainty of being produced) from 537 million barrels of oil to 2,377 MMbbl in

four of its top exploration prospects.

The independent assessment was prepared in accordance with the Petroleum Resources Management

System (PRMS) approved in March 2007 by the Society of Petroleum Engineers, the World Petroleum

Council, the American Association of Petroleum Geologists, and the Society of Petroleum Evaluation

Engineers. The effective date of the report is September 15, 2014.

Given the large quantity of prospects in CAMAC Energy’s portfolio, these estimates reflect only a select

portion of the Company’s prospective resources offshore Nigeria, and do not include any resource estimates

for the company’s assets in Ghana, Kenya, and Gambia, the company has explained. CAMAC Energy is the

operator and owns a 100% working interest in OMLs 120 and 121.

Exploration Drilling Program

Drilling locations have been identified on each of the four prospects, and technical work is continuing to

allow for the first exploration well to be drilled in the first half of 2015. The wells will target the Miocene

formation, which has been successfully demonstrated to be a prolific oil producing layer in deepwater

Nigeria. The exploration drilling program will be carried out utilizing either the drillship Energy Searcher,

which is currently under contract drilling the Oyo-7 and Oyo-8 development wells, or a second rig to be

contracted. The exploration program will be funded with future cash flows from the Oyo-7 and Oyo-8

development wells, cash on hand, and available credit facilities.




AGR to support IOG’s drilling operations Press Release, September 29, 2014

Global oil and gas service company AGR has entered into a Memorandum of Understanding

(MOU) with Independent Oil & Gas PLC (IOG) to work together to deliver Well Construction &

Well Project Management services in respect of IOG’s forthcoming drilling activity.

IOG operations map

AGR’s EVP UK and Africa, Ian Burdis, said: “We are delighted to have been granted the opportunity to

work alongside IOG to deliver their projects safely and efficiently.”

“At AGR, we strive to add value to our client’s projects and with experience gathered from over 500

drilling projects globally we are well positioned to do just that.”

Mark Routh, CEO of IOG said: “We are delighted to have signed this MOU and with AGR’s assistance we

look forward to operating next year’s proposed drilling programme on Cronx, subject to completing the

Cronx acquisition.”

AGR delivers well construction and project management, HSEQ, reservoir and field management services

to the upstream oil and gas industry.

The company also offers rig access management, consultancy manpower, expert software solutions and

tailored training. AGR operates in all regional main oil hubs around the world and over the last 13 years has

completed over 500 well projects.




UK: North Sea needs £1 trillion to tap remaining oil and gas Source: The Telegraph + NewBase

Over £1 trillion of investment will be required to recover all of the remaining oil and gas that is thought to

exist offshore in British waters, according to the latest industry report from Oil & Gas UK. Unless more

incentives are provided for drillers to work in the UK Continental Shelf (UKCS) and offset the increase in

costs of operating there

then the UK will struggle

to recover the 20bn

barrels of oil equivalent

(boe), or above, that are

thought to remain

offshore, warned Malcolm

Webb, chief executive of

Oil & Gas UK.

'Maximising recovery

from the UKCS is the

collective responsibility

of all those who fund,

regulate, tax and operate

the offshore oil and gas

industry and achieving

our full potential will

require a tremendous

effort on the part of

everyone involved,' said

Mr Webb. 'Our industry

makes far too important a

contribution to the

economic and energy

security of the nation to

be allowed to falter at this

critical point.'

The report shows that

production in the first half

has bounced back after

suffering several years of

double digit declines. The

latest figures cited in the

report from the

Department of Energy &

Climate Change show that

output mainly from the

North Sea grew by 1pc in the first six months, compared with a year earlier, after almost £28bn was pumped

into boosting production since the beginning of last year.

Some estimates have placed the volume of oil equivalent, a measure which includes gas and condensate,

that could still be recovered in the area known as UKCS as high as 30bn barrels.




UK: INEOS plans £2.5 billion shale gas giveaway Source: INEOS

• INEOS announces plans to give 6% of its Shale gas revenues* to homeowners, landowners & communities

close to its wells

• INEOS estimates it will give away over £2.5 billion from its new Shale gas business

• Those living in an INEOS Shale gas community (100km square) would typically share £375 million** over

the life of the project

• Home owners and land owners directly above the wells would share 4% of the revenue – typically £250

million

• Shale gas communities living close to the wells would share 2% of the revenue, typically £125 million

• Jim Ratcliffe, INEOS Chairman, says: 'This is a game changer for Britain’s Shale gas industry. Giving 6% of

revenues to those living above Britain’s shale gas developments means the rewards will be fairly shared.

INEOS has also hired some of the world’s leading Shale gas experts to make sure the gas can be safely

extracted in an environmentally responsible way'

INEOS, one of the world’s largest chemicals company, has announced plans to give 6% of its Shale gas

revenues to homeowners, landowners & communities who live above its Shale gas operations. INEOS

anticipates being a major player in the Shale gas industry and believes it will give away over £2.5 billion

over the life of its business. The sharing of Shale gas profits is commonplace in the USA and INEOS

believes this will encourage communities to support shale gas production in their neighbourhoods.

Jim Ratcliffe, INEOS founder and chairman says, 'We think this is a game changer for Britain. Giving

6% of the revenues to those living above our Shale gas operations will give them a real stake in the

success of the venture and encourage the development of the whole Shale gas industry'.

Typically, those living in a Shale gas community (approx. 100 sq kms) would benefit from the output of 200

wells and split £375 million between them. Home and landowners directly above the wells would share

£250 million. The rest of an INEOS Shale gas community would share £125 million between them, making

a substantial contribution towards new schools, parks, community centres and even hospitals. Over the

lifetime of a single well, home and land owners would get over £1.3 million and the community £600,000.

Jim Ratcliffe adds, 'Giving 6% of revenues to those directly above Shale gas wells means the rewards

are fairly shared by everyone. It’s what they do in the USA and we think it is right to do this here. It

democratises the Shale gas revolution'.

INEOS is one of very few businesses that can use Shale gas as both a fuel and a feedstock in its

manufacturing plants. It is already spending hundreds of millions of pounds to import large quantities of

Shale gas from the USA to its Grangemouth facility in Scotland, a necessity as the availability of gas in the

North Sea has declined. INEOS believes that a UK Shale gas industry could create thousands of direct new

jobs and tens of thousands of indirect new jobs.




UK shale has the potential to make up a significant proportion if not the totality of UK gas requirements

going forward***. This would give the UK energy security for the first time in many years. Shale gas also

produces approx. half the greenhouse gas of coal and so has the potential to significantly reduce UK

greenhouse gas emissions. INEOS believes that its exemplary safety and environmental track record at

petrochemical plants across the world will give people confidence in its ability to safely extract the gas.

Most recently, INEOS hired three of the world’s

leading Shale gas experts to further strengthen its

onshore gas credentials.

Jim Ratcliffe says, 'It is extremely important that

people know that Shale gas can be extracted,

transported and processed safely and in an

environmentally responsible way. INEOS is a

company used to dealing with complex

petrochemical processes and we have now hired

some of the world’s leading Shale gas experts to

further strengthen our sub-surface team. With

INEOS, people can be confident that they will not

only get a fair share of the rewards but that

everything will be done to the highest possible

standards'.

Note:

*INEOS plans that 6% of the Shale gas extracted from every well will be sold and the proceeds given

directly to the home owners, land owners and local communities close to the development.

**All figures are gross and without the deduction of tax which is a matter for the Treasury. Figures assume

that gas production is comparable to typical shale gas wells in the USA.

*** The single Marcellus shale gas field in the USA produces over twice as much gas as the UK consumes

and UK reserves are estimated to be significantly greater than this.




Thailand: Mubadala expects first production from Manora oil development in late October Source: Tap Oil

JV partner Tap Oil has provided an update on the Manora Oil Development in the Northern Gulf of

Thailand (TAP 30% interest).Batch drilling of

the first three development wells is

progressing ahead of schedule, with MNA-01

and MNA-02 having been drilled to the final

target depths and drilling of MNA-03

progressing. MNA-01 and MNA-02 are

required ahead of introduction of

hydrocarbons to the Manora production

facility. The first two development wells

MNA-01 and MNA-02, encountered 172 feet

and 160 feet of net oil pay respectively in the

three 600 series reservoirs of the central fault

block. They will be completed as single zone

producers in two of the three reservoirs. The

well results compare favorably to the

Manora-1 discovery well, which found 168

feet net oil pay in the same sequence of

reservoirs. Drilling is currently progressing on the MNA-03 well, which is targeted at the third reservoir.

Mubadala Petroleum, Operator of the Manora Oil Development joint venture, has advised that production

at Manora is now expected to commence in the second half of October, rather than at the end of the third

quarter 2014. The short delay is due to a combination of poor weather and delays in commencing the

platform commissioning. The

commissioning work is well

underway and it is anticipated

the hook up and

commissioning will be

completed during this time.

The Manora A platform is

located within the Gulf of

Thailand in 46 metres of

water. The development

drilling program calls for

drilling and completion of 15

wells (10 producers and 5

injectors), with the program

expected to take until the end

of Q1 2015.

Tap has 2P reserves of 6.1

mmbbls (20.2 mmbbls gross)

and 2C contingent resources of

3.2 mmbbls (10.9 mmbbls

gross) booked for Manora (ASX release 27 October 2011). Tap will review these reserves and contingent

resources following development drilling and production performance.




US New Eagle Ford wells continue to show higher production Source: U.S. Energy Information Administration, based on Drillinginfo

Increased drilling and improved drilling efficiency have led to significant crude oil production increases in

the Eagle Ford region in southern Texas. These increases have occurred despite the region's relatively high

well decline rates. However, by offsetting the natural declines through the use of new recovery techniques,

further production increases are possible.

Horizontal drilling combined with an increasing number of hydraulic fracturing stages in tight formations

like the Eagle Ford typically enhance initial production rates when compared to past results. These higher

initial production rates are often accompanied by initially larger decline rates, before gradually leveling off

to a consistent level of decline for the remaining years of the well life.

While initial production rates have steadily increased since 2009, first-year decline rates in the Eagle Ford

have fluctuated between 60% and 70%. Most notably, decline rates over the second year of production have

steadily increased from 30% for wells drilled in 2009 to nearly 50% for wells drilled in 2011 and 2012.

Since 2013, many producers have been using significantly more proppant (sand or other material designed

to keep a hydraulic fracture open) when hydraulically fracturing new wells, which appears to have increased

initial production rates, but which was followed by a steeper drop in production.




Offshore Oman conference to attract industry professionals Written by Oman Observer -(OEPPA Business Development Dept)

Offshore Development Oman 2014, the Sultanate’s first conference to focus exclusively on the country’s rapidly expanding offshore hydrocarbon industry, will take place during December 9–10, at Al Bustan Palace — A Ritz Carlton Hotel.

Organised by Global Exhibitions & Conferences LLC, with the support of the Ministry of Oil and Gas, the event will look at requirements, design, engineering and construction, operation and maintenance, risk and safety associated with the various types for offshore platforms for the Sultanate. With unique challenges of each of these fields this conference will look at the best platform to support the requirements of the field, and the engineering and technological requirements to establish and operate.

Offshore Development Oman 2014, the region’s premier technical forum focused exclusively on the Sultanate’s offshore oil and gas industry will showcase the most innovative technologies and ground-

breaking solutions within the offshore exploration and production industry.

Deliberations will centre on the strategic, commercial, technology and regulatory issues that will shape the future of the development and commercialisation of the deep and ultra-deepwater oil and gas industry in the Sultanate of Oman. There has been a call to attract foreign investment in offshore blocks for a number of concessions offered by the Omani government for exploration and development.

Maneesh Nair, Conference Director of Global Exhibitions & Conferences LLC said: “We are enthusiastic about the opportunity to work with Ministry of Oil and Gas with the goal of rapidly accelerating the growth of the offshore Oil & Gas sector in Oman. The offshore hydrocarbon sector is experiencing phenomenal growth due to the resurgence of exploration and drilling in the east of Oman.

The conference will deliver the latest technological innovations, solutions and lessons learned from leading industry professionals and will focus on the process of managing major projects with its inherent cost implications.




NewBase For discussion or further details on the news below you may contact us on +971504822502 , Dubai , UAE

Your partner in Energy Services

Khaled Malallah Al Awadi, Energy Consultant

MSc. & BSc. Mechanical Engineering (HON), USA ASME member since 1995 Emarat member since 1990

Mobile : +97150-4822502 [email protected] [email protected]

Khaled Al Awadi is a UAE National with a total of 24 yearsKhaled Al Awadi is a UAE National with a total of 24 yearsKhaled Al Awadi is a UAE National with a total of 24 yearsKhaled Al Awadi is a UAE National with a total of 24 years of experience in theof experience in theof experience in theof experience in the Oil & Gas sector. Currently Oil & Gas sector. Currently Oil & Gas sector. Currently Oil & Gas sector. Currently

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operation & maintenance agreements along with many MOUs for the local authorities. He has become a reference for many of operation & maintenance agreements along with many MOUs for the local authorities. He has become a reference for many of operation & maintenance agreements along with many MOUs for the local authorities. He has become a reference for many of operation & maintenance agreements along with many MOUs for the local authorities. He has become a reference for many of

the Oil & Gas Conferences held in the UAE andthe Oil & Gas Conferences held in the UAE andthe Oil & Gas Conferences held in the UAE andthe Oil & Gas Conferences held in the UAE and Energy program Energy program Energy program Energy program broadcasted internationally , via GCC leading satellite broadcasted internationally , via GCC leading satellite broadcasted internationally , via GCC leading satellite broadcasted internationally , via GCC leading satellite

Channels . Channels . Channels . Channels .

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NewBase 30 September 2014 K. Al Awadi

Economy & Finance

New base special 30 september 2014