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NewBase Energy News 27 September 2017 - Issue No. 1076 Senior Editor Eng. Khaled Al Awadi
NewBase For discussion or further details on the news below you may contact us on +971504822502, Dubai, UAE
UAE inks "Information Exchange Arrangement" in nuclear
energy with UK, Canada
https://fanr.gov.ae/en/media-centre/news?g=aca2e2e4-1021-427b-87ad-85f7404cbc38
The UAE’s Federal Authority for Nuclear Regulation (FANR) has signed two international co-
operation agreements with leading nuclear regulators aimed at exchange of knowledge and
information related to the peaceful use of nuclear energy, as well as safety and regulatory-related
information.
The first is an "Information Exchange Arrangement" signed with the Office for Nuclear Regulation
(ONR) of Great Britain. The arrangement aims to exchange information on matters related to the
peaceful use of nuclear energy.
It also paves way for exchange of information on legislation, regulations, licenses as well as
construction, operation and decommissioning of nuclear installations, said a statement from
FANR.
The second deal was signed with the Canadian Nuclear Safety Commission, CNSC, to exchange
safety and regulatory-related information. It covers regulatory aspects of the safety and security of
nuclear power plants and radioactive source, safety-related research in connection with licensing
and regulatory control of nuclear facilities and other aspects
These agreements were signed on the sideline of the 61st General Conference of the
International Atomic Energy Agency (IAEA) held in Vienna, Austria, where FANR joined other
UAE delegation members on the high-profile platform.
An independent federal authority, FANR was established in 2009 to regulate all nuclear-related
activities and licenses the use of radioactive sources in the UAE in line with the provisions of the
Federal Law on the peaceful use of nuclear energy.
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Saudi Aramco to finish first shale gas project soon
Reuters News
KHOBAR, Saudi Arabia - State oil giant Saudi Aramco is expected to finish building facilities soon
in the north of the kingdom that will allow it to produce shale gas for the first time, industry sources
said.
The project, known as System A, involves gas processing facilities, wellheads and pipelines in
Turaif which will feed the Waad al-Shamal phosphate mining project in the region. "It is in the
final stages, mechanical completion will happen soon," one of the sources said.
A second source said the facilities would achieve mechanical completion in a month or two before
production starts. Saudi Aramco declined to comment. An update on the project in Aramco's
2016 annual report released in July said 55 million standard cubic feet of gas per day (scfd) would
be delivered to industrial and power facilities at Waad al-Shamal by the end of 2017.
The search for natural gas is a top priority for Saudi Arabia as it struggles to keep pace with
rapidly rising domestic demand for power. The kingdom also pledged to cut its carbon emissions
and gas is cleaner than oil for power generation.
Saudi Aramco has said its gas production will double to 23 billion standard cubic feet per day in a
decade, including 2 billion to 3 billion from shale. Aramco is in the process of building a System B,
which will be at least four times bigger than System A. It also has plans to build a System C but
has yet to issue tenders for its construction.
Early projections estimated the shale gas intake of the Waad al-Shamal mining complex and
power plant being built for Saudi mining firm Ma'aden would be 200 million cubic feet per day by
2018. The complex is expected to hit full capacity by 2019.
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or otherwise copied without the written permission of the authors. This includes internal distribution. All reasonable endeavours have been used to ensure the accuracy of the information contained in this
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Guyana: Total Makes Foray Into Exxon's Exploration Offshore
by Reuters|Tuesday, September 26, 2017
France's Total has agreed to pay $1 million for an option to buy a 25 percent stake in an oil
exploration block offshore Guyana, its first foray into an area close to where ExxonMobil made
one of the largest discoveries of the last decade.
Eco Atlantic Oil & Gas, a small Canadian exploration company which earlier this year listed on
London's junior AIM market, said on Tuesday Total now had the option to acquire the stake in the
Orinduik Block for another $12.5 million following the analysis of recently collected 3D seismic
data.
"In the event that the option is
exercised by Total, the deal proceeds
will recoup all our expenses on the
expanded 3D program and fund us for
drilling a minimum of two wells based
on current well costs," said Gil
Holzman, president and CEO of Eco
Atlantic.
If Total proceeds with the deal, Eco
Atlantic's interest in Orinduik will fall to
15 percent, while partner Tullow Oil
maintains a 60 percent stake and the
block's operatorship. Tullow Oil
declined to comment and Total was
not immediately available for
comment.
Eco Atlantic's London shares were up
9.5 percent at 1057 GMT and traded
up to 19.5 pence, the highest in more
than five months. Tullow's shares
traded 2.1 percent higher, while Total
was down 0.3 percent.
"It is of course positive to see a
company such as Total show interest
in this exploration license but the manner of the agreement, as an option, shows a certain degree
of to-be-educated geological caution on the part of Total," said analysts at Jefferies.
The waters offshore Guyana and Suriname have been a hotbed for oil and gas exploration since
ExxonMobil made its huge Liza discovery in 2015, part of the Stabroek Block where it estimates
lay 2.25-2.75 billion barrels of oil.
In June, ExxonMobil and its partners gave the go-ahead for the $4.4 billion development of Liza,
one of a handful of mega-projects approved at a time when the oil industry remains in cash saving
mode.
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or otherwise copied without the written permission of the authors. This includes internal distribution. All reasonable endeavours have been used to ensure the accuracy of the information contained in this
publication. However, no warranty is given to the accuracy of its content. Page 4
Netherlands: Hansa Hydrocarbons confirms an important discovery
on its GEms licences, offshore .., Source: Hansa Hydrocarbons
Hansa Hydrocarbons has announced that the N05-1 exploration well drilled offshore Netherlands
on its GEms licences, has been confirmed as a significant discovery encountering gas in the
target basal Rotliegend sandstones.
Hansa and its partners Oranje-Nassau Energie B.V. (ONE) and Energie Beheer Nederland B.V.
(EBN, the Dutch State entity), further appraised the reservoir distribution and delineated the
structure with a downdip geological side-track which also encountered gas.
The reservoir interval was cored throughout and 24m of net sand was encountered with high
permeability. This was confirmed by the
DST in the vertical well which was flow
tested at a maximum sustained flow rate
of 53 million standard cubic feet per day,
which was the limit of surface
equipment. The results of the well
exceeded pre-drill expectations.
The Ruby discovery extends across the
N04, N05, N08 and Geldsackplate
licences in the Dutch and German North
Sea sectors respectively in a water
depth of 28m. The N05-1 well was drilled
as a joint well between the N05 and
Geldsackplate licence groups, with
Hansa participating at a 40% working
interest. The well was operated by ONE
and drilled with the Paragon Offshore
Prospector-1 rig, which moved off
location on 30th August 2017.
Hansa is operator of both the Dutch and
German GEms licences, Blocks N04,
N05, N8 and N07c in the Netherlands,
with interests post-EBN participation of
25% to 30%, and the Geldsackplate
licence in Germany with an interest of 50%.
John Martin, Hansa Hydrocarbon’s CEO, said:
'The success of the Ruby discovery is of great significance for the company. Not only have we
proved up a substantial volume but it also confirms the extent of the hitherto poorly understood
basal Rotliegend sands in the offshore basin. We now look forward to progressing the
commercialisation of Ruby and the appraisal of the adjacent prospects in order to realise the full
potential of this exciting new play.
Hansa’s decision to pursue this play dates back to its entry into the German offshore with the
drilling of the L01-2 well in 2010 which enabled the company to develop a geological model with
the use of modern reprocessed 3D seismic. The N05-1 well has now validated this model and
leads to a significant de-risking of the neighbouring prospectivity in the GEms, Geldsackplate and
4Quads (G18, H16, M03, N01) licences to the north.'7”
Copyright © 2015 NewBase www.hawkenergy.net Edited by Khaled Al Awadi – Energy Consultant All rights reserved. No part of this publication may be reproduced, redistributed,
or otherwise copied without the written permission of the authors. This includes internal distribution. All reasonable endeavours have been used to ensure the accuracy of the information contained in this
publication. However, no warranty is given to the accuracy of its content. Page 5
US:National Oil and Gas Gateway consolidates well-level data
Source: U.S. Energy Information Administration
The National Oil and Gas Gateway is the first publicly available website with oil and natural gas
well-level data from multiple states. The website was created as a collaborative initiative among
the U.S. Energy Information Administration; the Groundwater Protection Council (GWPC) and its
member states; and the U.S. Department of Energy’s Office of Oil and Natural Gas, part of the
Office of Fossil Energy.
Well-level data in the Gateway are updated monthly by the participating states. Ten oil- and
natural gas-producing states are currently submitting monthly data to the Gateway: Alabama,
Arkansas, Colorado, Kentucky, Mississippi, Nebraska, New York, Oklahoma, Utah, and West
Virginia.
Participation in the Gateway is open to all oil- and natural gas-producing states, and the GWPC
has worked with most of those states to develop the Risk Based Data Management System
(RBDMS), a shared data management system developed with the support of the U.S. Department
of Energy’s Office of Oil and Natural Gas.
Users of the Gateway may view, analyze, and export data for oil and natural gas wells, including:
• Well location
• Well name, unique well API number, and operator
• Current well status and well type
• Well production, injection, disposition, and completion data
• Hydraulic fracturing chemical disclosure reports from FracFocus
• Well depth and drilling orientation—such as directional, horizontal, or vertical
Gateway data are available in map, datasheet, or dashboard forms. The map view displays the
geographic location of wells and allows users to apply filters by drawing areas directly on the map.
Copyright © 2015 NewBase www.hawkenergy.net Edited by Khaled Al Awadi – Energy Consultant All rights reserved. No part of this publication may be reproduced, redistributed,
or otherwise copied without the written permission of the authors. This includes internal distribution. All reasonable endeavours have been used to ensure the accuracy of the information contained in this
publication. However, no warranty is given to the accuracy of its content. Page 6
The datasheet displays well data in a spreadsheet format that lets users aggregate, sort, and
compare wells, and the dashboard provides charts that can be customized and downloaded.
The Gateway combines participating states’ publicly available oil and natural gas data into a
common framework with consistent definitions. Before the Gateway, these states’ well-level data
were only available on individual state websites or in aggregate in commercial databases. Data in
the Gateway can be modified only by the respective states. State agency websites should be
considered the definitive source for all data in the Gateway.
Copyright © 2015 NewBase www.hawkenergy.net Edited by Khaled Al Awadi – Energy Consultant All rights reserved. No part of this publication may be reproduced, redistributed,
or otherwise copied without the written permission of the authors. This includes internal distribution. All reasonable endeavours have been used to ensure the accuracy of the information contained in this
publication. However, no warranty is given to the accuracy of its content. Page 7
NewBase September 27 - 2017 Khaled Al Awadi
NewBase For discussion or further details on the news below you may contact us on +971504822502 , Dubai , UAE
Brent oil edges up, near 26-month high amid supply concerns
Reuters + NewBase + Bloomberg
Brent oil prices rose on Wednesday, hovering around a 26-month high hit in the previous session,
after U.S. data showed an unexpected drop in crude stocks as refineries boosted output and amid
threats from Turkey to cut crude exports from Iraq.
Brent crude for November delivery was up 20 cents, or 0.34 percent, at $58.64 a barrel, as of 0418
GMT. It settled down 1 percent on Tuesday, after earlier hitting $59.49, its highest since July 2015
and more than 34 percent above a 2017 low.
U.S. crude for November delivery rose 28 cents, or 0.5 percent, to $52.16, having settled down 0.7
percent after hitting a five-month high of $52.43 in the previous session.
Oil prices have been supported by output curbs of 1.8 million barrels per day by the Organization of
Petroleum Exporting Countries (OPEC), and cuts by other major producers, although U.S. crude has
lagged behind Brent amid concerns that U.S. production growth could stoke oversupply.
U.S. crude stocks fell by 761,000 barrels last week as refineries boosted production, while
gasoline inventories increased and distillate stocks fell, data from industry group American
Petroleum Institute showed on Tuesday, in contrast with market expectations.
Refinery crude runs rose by 1.3 million barrels per day, API data showed.
U.S. crude inventories were seen rising for a fourth straight week, an extended Reuters poll
showed on Tuesday.
Oil price special
coverage
Copyright © 2015 NewBase www.hawkenergy.net Edited by Khaled Al Awadi – Energy Consultant All rights reserved. No part of this publication may be reproduced, redistributed,
or otherwise copied without the written permission of the authors. This includes internal distribution. All reasonable endeavours have been used to ensure the accuracy of the information contained in this
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"There's pretty strong upward momentum at the moment," said Ric Spooner, chief market analyst
at CMC Markets in Sydney, referring to a better-than-expected near-term supply balance outlook.
Crude oil production in Texas, one of the biggest producers of shale oil in the United States, fell
less than 1 percent in July compared with a year ago, the state's energy regulator said on
Tuesday.
"Going forward, oil is likely
to remain supported as
supply disruptions,
combined with solid global
demand, will probably
continue to lift prices," ANZ
said in a research note.
Monroe Energy, a
subsidiary of Delta Air
Lines, ran out of crude oil at
its 185,000 barrel-per-day
Trainer, Pennsylvania,
refinery amid shipping
delays due to rough seas
caused by Hurricanes Jose
and Maria, according to a source familiar with the company's operations and Reuters shipping
data.
The U.S. Energy Information Administration (EIA) will release stocks data later in the day.
Turkish President Tayyip Erdogan on Tuesday repeated a threat to cut off the pipeline that carries
500,000-600,000 barrels per day (bpd) of crude from northern Iraq to the Turkish port of Ceyhan.
Copyright © 2015 NewBase www.hawkenergy.net Edited by Khaled Al Awadi – Energy Consultant All rights reserved. No part of this publication may be reproduced, redistributed,
or otherwise copied without the written permission of the authors. This includes internal distribution. All reasonable endeavours have been used to ensure the accuracy of the information contained in this
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Citi Says Get Ready for an Oil Squeeze
Those in the oil market fearing a flood of OPEC supply next year will probably be better off
preparing for a shortage, according to Citigroup Inc.
Five countries in the group -- Libya, Nigeria, Venezuela, Iran and Iraq -- may already be pumping
at their maximum capacity this year, Ed Morse, the bank’s global head of commodities research,
said in an interview. Rather than a surge in output, there’s a risk of a market squeeze emerging as
early as 2018, driven by those nations because of weaker investment in exploration and
development, he said.
“Fear in the market has been that OPEC production will rise dramatically,” said Morse. However,
“there could be a supply gap emerging, which could point to a tighter market,” he said in
Singapore on the sidelines of the S&P Global Platts APPEC Conference.
Copyright © 2015 NewBase www.hawkenergy.net Edited by Khaled Al Awadi – Energy Consultant All rights reserved. No part of this publication may be reproduced, redistributed,
or otherwise copied without the written permission of the authors. This includes internal distribution. All reasonable endeavours have been used to ensure the accuracy of the information contained in this
publication. However, no warranty is given to the accuracy of its content. Page 10
Crude is still trading more than 50 percent below mid-2014 levels amid concern over whether
output curbs by the Organization of Petroleum Exporting Countries will be enough to eliminate a
global glut. A gathering in Vienna last week between OPEC and its allies ended with no decision
on an extension or deepening of the cuts beyond the first quarter of 2018, while the potential
revival of U.S. shale production is also weighing on the outlook for prices.
If the output reductions are prolonged, that would only hasten the prospect of a tighter market,
said Morse, adding that the source of the supply squeeze will probably be OPEC rather than
producers outside the group. “There’s no room for them to do more,” he said, referring to the five
nations.
“We’re seeing more and more evidence that it’s not the international oil companies, it’s not the
independent oil companies that are lagging new investments, but it’s OPEC countries lagging,
particularly those five,” he said.
In Iran, investors may be vulnerable to U.S. sanctions on dealing with companies owned by the
Middle East nation’s Revolutionary Guards, the premier security force that dominates the
domestic services sector, said Morse. The OPEC
producer is shipping a combined 2.6 million
barrels a day of crude and the ultra-light oil known
as condensate, and expects to export more at the
end of 2017, according to the National Iranian Oil
Co.
Morse said Iraq’s contract terms weren’t
competitive, while major energy companies such
as Lukoil PJSC and Royal Dutch Shell Plc had
either pulled out of projects or bemoaned the drop
in investments. Libya and Nigeria have brought
back as much production as they can, he said.
Brent crude in London slipped 0.6 percent to $58.68 a barrel at 5:42 p.m. Singapore time. The
benchmark for more than half the world’s oil rose to the highest close in more than two years on
Monday. West Texas Intermediate fell 0.5 percent to $51.97 a barrel in New York.
Copyright © 2015 NewBase www.hawkenergy.net Edited by Khaled Al Awadi – Energy Consultant All rights reserved. No part of this publication may be reproduced, redistributed,
or otherwise copied without the written permission of the authors. This includes internal distribution. All reasonable endeavours have been used to ensure the accuracy of the information contained in this
publication. However, no warranty is given to the accuracy of its content. Page 11
NewBase Special Coverage
News Agencies News Release September 27-2017
It's a Dangerous Moment for OPEC
Julian Lee
Oil prices are recovering. U.S. storm damage and strengthening economies may have finally
dislodged sentiment away from resignation to a future of low oil prices.
That's the story, but it isn't the whole picture. And while OPEC and other countries that have cut
production will undoubtedly take comfort from Brent near $60 a barrel, they should be wary of
taking too much of the credit and certainly can't relax their output restraint. They are not yet out of
the woods.
On Monday, Brent crude came within a dollar of the $60-mark that seems to be OPEC's unofficial
target (at least for now), although U.S. benchmark WTI is lagging ever further behind.
Nine months of output cuts by the group and its friends have certainly contributed to the higher
prices. But to pin the 16 percent rally in Brent crude since August 30 on these actions alone would
be a mistake, and raise the risk that ministers make the wrong decisions in the months ahead.
Copyright © 2015 NewBase www.hawkenergy.net Edited by Khaled Al Awadi – Energy Consultant All rights reserved. No part of this publication may be reproduced, redistributed,
or otherwise copied without the written permission of the authors. This includes internal distribution. All reasonable endeavours have been used to ensure the accuracy of the information contained in this
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Oil traders and executives meeting in Singapore this week are more focused on the state of the
global economy and the resulting strength of oil demand than they are on output cuts.
One thing that sets this year's strong economic performance apart is that it is touching economies
everywhere. Yes, the economic boom may be particularly strong in emerging Asian economies,
but it extends further, including to the developed economies of the U.S. and Europe. And that
boom is being felt particularly in demand for so-called middle distillates -- diesel, heating oil and jet
fuel -- and for petrochemical products.
Weekly data from the U.S. Energy Information Administration bear this out, with distillate demand
up 9 percent so far this year compared with the same period in 2016, and inventories dipping
below their 5-year average in last week's preliminary data. U.S. jet fuel inventories fell below their
five-year average in July and gasoline is headed in the same direction.
Add to this the suggestion that, as I wroteon Sunday, U.S. oil production growth has been over-
estimated, and it is easy to see why sentiment is shifting away from "lower for longer" towards
rebalancing.
But we need to be careful, because there are short-term factors whose influence we neglect at our
peril.
Disruptions to U.S. refineries caused by Hurricane Harvey have been a big factor in driving the
correction in the country's product inventories. Crude oil input to refineries fell around 3 million
barrels a day, or 17 percent, below normal in the three weeks to Sept. 15, curtailing production of
distillates and gasoline. But the storm had a much smaller and shorter impact on crude oil
production, which fell by 750,000 barrels a day the week the storm made landfall but recovered
most of that over the two following weeks.
Copyright © 2015 NewBase www.hawkenergy.net Edited by Khaled Al Awadi – Energy Consultant All rights reserved. No part of this publication may be reproduced, redistributed,
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For an overall rebalancing of the market, it is the volume of crude coming out of the ground, rather
than products coming out of refineries, that is most important. And the U.S. refinery hiccup should
prove temporary.
The Kurdish referendum on independence from Iraq may have no immediate impact on oil supply,
but it is a timely reminder that potentially disruptive political events in the Middle East can never
be ignored.
Threats to political stability in the region can quickly boost oil prices, as they did Monday, while the
easing of those threats can just as quickly unwind the rally.
The vote will almost certainly deliver a mandate for independence, but the impact on oil supply will
depend on the reactions of the region's neighbors. Turkey has already threatened to shut the taps
on the only route to market for nearly 600,000 barrels a day of crude exported through the
Kurdistan region of Iraq. Were it to follow through on this threat, it would be equivalent to boosting
OPEC's output cut by half and would certainly hasten market rebalancing.
Can the crude rally last?
If economic growth remains strong then oil demand may continue to outstrip supply, slowly eating
into the surplus inventory. The focus on over-supply will switch to worries about impending
shortage. Indeed, Citigroup Inc. and Trafigura Group are already there. And the global demand
picture looks promising: the International Energy Agency sees it growing by 1.6 million barrels a
day in 2017, up from a June forecast for growth of less than 1.3 million barrels a day.
Copyright © 2015 NewBase www.hawkenergy.net Edited by Khaled Al Awadi – Energy Consultant All rights reserved. No part of this publication may be reproduced, redistributed,
or otherwise copied without the written permission of the authors. This includes internal distribution. All reasonable endeavours have been used to ensure the accuracy of the information contained in this
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But, as I wrote here, that boost to demand growth comes entirely from a downward revision to last
year's oil use, not an increase in how much the IEA thinks the world will consume this year. With
no corresponding downward revision to last year's oil supply, that can only mean that there is
even more excess inventory than previously thought.
And, higher crude prices have yet to feed through fully to gas station forecourts -- but they will,
raising the cost of driving, which is already above last year's level. That alone will cut into demand
growth, never mind the drag that rising oil prices, and their inflationary impact, may have on
economic prospects.
Then there is shale. U.S. oil prices are still well short of $60 a barrel, but they are already high
enough to start encouraging some producers to begin locking in prices for next year and boosting
investment.
When OPEC and their friends meet at the end of November, their decision on the future of their
output agreement may be no easier to make.
At that time, the deal will still have four months to run, so don't be surprised if they simply decide
to kick the can down the road and leave a formal decision on where to go next for another meeting
early in 2018. If the recent past has shown us anything, it is that the market outlook can change
dramatically in four months
Copyright © 2015 NewBase www.hawkenergy.net Edited by Khaled Al Awadi – Energy Consultant All rights reserved. No part of this publication may be reproduced, redistributed,
or otherwise copied without the written permission of the authors. This includes internal distribution. All reasonable endeavours have been used to ensure the accuracy of the information contained in this
publication. However, no warranty is given to the accuracy of its content. Page 15
NewBase For discussion or further details on the news below you may contact us on +971504822502, Dubai, UAE
Your partner in Energy Services
NewBase energy news is produced daily (Sunday to Thursday) and
sponsored by Hawk Energy Service – Dubai, UAE.
For additional free subscription emails please contact Hawk Energy
Khaled Malallah Al Awadi,
Energy Consultant
MS & BS Mechanical Engineering (HON), USA
Emarat member since 1990
ASME member since 1995
Hawk Energy member 2010
Mobile: +97150-4822502
khdmohd@hawkenergy.net
khdmohd@hotmail.com
Khaled Al Awadi is a UAE National with a total of 27 years of experience in
the Oil & Gas sector. Currently working as Technical Affairs Specialist for
Emirates General Petroleum Corp. “Emarat“ with external voluntary Energy
consultation for the GCC area via Hawk Energy Service as a UAE
operations base , Most of the experience were spent as the Gas Operations
Manager in Emarat , responsible for Emarat Gas Pipeline Network Facility &
gas compressor stations . Through the years, he has developed great
experiences in the designing & constructing of gas pipelines, gas metering &
regulating stations and in the engineering of supply routes. Many years were spent drafting, &
compiling gas transportation, 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 and Energy program broadcasted internationally, via GCC leading satellite Channels.
NewBase : For discussion or further details on the news above you may contact us on +971504822502 , Dubai , UAE
NewBase September 2017 K. Al Awadi
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or otherwise copied without the written permission of the authors. This includes internal distribution. All reasonable endeavours have been used to ensure the accuracy of the information contained in this
publication. However, no warranty is given to the accuracy of its content. Page 16
Copyright © 2015 NewBase www.hawkenergy.net Edited by Khaled Al Awadi – Energy Consultant All rights reserved. No part of this publication may be reproduced, redistributed,
or otherwise copied without the written permission of the authors. This includes internal distribution. All reasonable endeavours have been used to ensure the accuracy of the information contained in this
publication. However, no warranty is given to the accuracy of its content. Page 17

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New base 27 september 2017 energy news issue 1076 by khaled al awadi

  • 1. Copyright © 2015 NewBase www.hawkenergy.net Edited by Khaled Al Awadi – Energy Consultant All rights reserved. No part of this publication may be reproduced, redistributed, or otherwise copied without the written permission of the authors. This includes internal distribution. All reasonable endeavours have been used to ensure the accuracy of the information contained in this publication. However, no warranty is given to the accuracy of its content. Page 1 NewBase Energy News 27 September 2017 - Issue No. 1076 Senior Editor Eng. Khaled Al Awadi NewBase For discussion or further details on the news below you may contact us on +971504822502, Dubai, UAE UAE inks "Information Exchange Arrangement" in nuclear energy with UK, Canada https://fanr.gov.ae/en/media-centre/news?g=aca2e2e4-1021-427b-87ad-85f7404cbc38 The UAE’s Federal Authority for Nuclear Regulation (FANR) has signed two international co- operation agreements with leading nuclear regulators aimed at exchange of knowledge and information related to the peaceful use of nuclear energy, as well as safety and regulatory-related information. The first is an "Information Exchange Arrangement" signed with the Office for Nuclear Regulation (ONR) of Great Britain. The arrangement aims to exchange information on matters related to the peaceful use of nuclear energy. It also paves way for exchange of information on legislation, regulations, licenses as well as construction, operation and decommissioning of nuclear installations, said a statement from FANR. The second deal was signed with the Canadian Nuclear Safety Commission, CNSC, to exchange safety and regulatory-related information. It covers regulatory aspects of the safety and security of nuclear power plants and radioactive source, safety-related research in connection with licensing and regulatory control of nuclear facilities and other aspects These agreements were signed on the sideline of the 61st General Conference of the International Atomic Energy Agency (IAEA) held in Vienna, Austria, where FANR joined other UAE delegation members on the high-profile platform. An independent federal authority, FANR was established in 2009 to regulate all nuclear-related activities and licenses the use of radioactive sources in the UAE in line with the provisions of the Federal Law on the peaceful use of nuclear energy.
  • 2. Copyright © 2015 NewBase www.hawkenergy.net Edited by Khaled Al Awadi – Energy Consultant All rights reserved. No part of this publication may be reproduced, redistributed, or otherwise copied without the written permission of the authors. This includes internal distribution. All reasonable endeavours have been used to ensure the accuracy of the information contained in this publication. However, no warranty is given to the accuracy of its content. Page 2 Saudi Aramco to finish first shale gas project soon Reuters News KHOBAR, Saudi Arabia - State oil giant Saudi Aramco is expected to finish building facilities soon in the north of the kingdom that will allow it to produce shale gas for the first time, industry sources said. The project, known as System A, involves gas processing facilities, wellheads and pipelines in Turaif which will feed the Waad al-Shamal phosphate mining project in the region. "It is in the final stages, mechanical completion will happen soon," one of the sources said. A second source said the facilities would achieve mechanical completion in a month or two before production starts. Saudi Aramco declined to comment. An update on the project in Aramco's 2016 annual report released in July said 55 million standard cubic feet of gas per day (scfd) would be delivered to industrial and power facilities at Waad al-Shamal by the end of 2017. The search for natural gas is a top priority for Saudi Arabia as it struggles to keep pace with rapidly rising domestic demand for power. The kingdom also pledged to cut its carbon emissions and gas is cleaner than oil for power generation. Saudi Aramco has said its gas production will double to 23 billion standard cubic feet per day in a decade, including 2 billion to 3 billion from shale. Aramco is in the process of building a System B, which will be at least four times bigger than System A. It also has plans to build a System C but has yet to issue tenders for its construction. Early projections estimated the shale gas intake of the Waad al-Shamal mining complex and power plant being built for Saudi mining firm Ma'aden would be 200 million cubic feet per day by 2018. The complex is expected to hit full capacity by 2019.
  • 3. Copyright © 2015 NewBase www.hawkenergy.net Edited by Khaled Al Awadi – Energy Consultant All rights reserved. No part of this publication may be reproduced, redistributed, or otherwise copied without the written permission of the authors. This includes internal distribution. All reasonable endeavours have been used to ensure the accuracy of the information contained in this publication. However, no warranty is given to the accuracy of its content. Page 3 Guyana: Total Makes Foray Into Exxon's Exploration Offshore by Reuters|Tuesday, September 26, 2017 France's Total has agreed to pay $1 million for an option to buy a 25 percent stake in an oil exploration block offshore Guyana, its first foray into an area close to where ExxonMobil made one of the largest discoveries of the last decade. Eco Atlantic Oil & Gas, a small Canadian exploration company which earlier this year listed on London's junior AIM market, said on Tuesday Total now had the option to acquire the stake in the Orinduik Block for another $12.5 million following the analysis of recently collected 3D seismic data. "In the event that the option is exercised by Total, the deal proceeds will recoup all our expenses on the expanded 3D program and fund us for drilling a minimum of two wells based on current well costs," said Gil Holzman, president and CEO of Eco Atlantic. If Total proceeds with the deal, Eco Atlantic's interest in Orinduik will fall to 15 percent, while partner Tullow Oil maintains a 60 percent stake and the block's operatorship. Tullow Oil declined to comment and Total was not immediately available for comment. Eco Atlantic's London shares were up 9.5 percent at 1057 GMT and traded up to 19.5 pence, the highest in more than five months. Tullow's shares traded 2.1 percent higher, while Total was down 0.3 percent. "It is of course positive to see a company such as Total show interest in this exploration license but the manner of the agreement, as an option, shows a certain degree of to-be-educated geological caution on the part of Total," said analysts at Jefferies. The waters offshore Guyana and Suriname have been a hotbed for oil and gas exploration since ExxonMobil made its huge Liza discovery in 2015, part of the Stabroek Block where it estimates lay 2.25-2.75 billion barrels of oil. In June, ExxonMobil and its partners gave the go-ahead for the $4.4 billion development of Liza, one of a handful of mega-projects approved at a time when the oil industry remains in cash saving mode.
  • 4. Copyright © 2015 NewBase www.hawkenergy.net Edited by Khaled Al Awadi – Energy Consultant All rights reserved. No part of this publication may be reproduced, redistributed, or otherwise copied without the written permission of the authors. This includes internal distribution. All reasonable endeavours have been used to ensure the accuracy of the information contained in this publication. However, no warranty is given to the accuracy of its content. Page 4 Netherlands: Hansa Hydrocarbons confirms an important discovery on its GEms licences, offshore .., Source: Hansa Hydrocarbons Hansa Hydrocarbons has announced that the N05-1 exploration well drilled offshore Netherlands on its GEms licences, has been confirmed as a significant discovery encountering gas in the target basal Rotliegend sandstones. Hansa and its partners Oranje-Nassau Energie B.V. (ONE) and Energie Beheer Nederland B.V. (EBN, the Dutch State entity), further appraised the reservoir distribution and delineated the structure with a downdip geological side-track which also encountered gas. The reservoir interval was cored throughout and 24m of net sand was encountered with high permeability. This was confirmed by the DST in the vertical well which was flow tested at a maximum sustained flow rate of 53 million standard cubic feet per day, which was the limit of surface equipment. The results of the well exceeded pre-drill expectations. The Ruby discovery extends across the N04, N05, N08 and Geldsackplate licences in the Dutch and German North Sea sectors respectively in a water depth of 28m. The N05-1 well was drilled as a joint well between the N05 and Geldsackplate licence groups, with Hansa participating at a 40% working interest. The well was operated by ONE and drilled with the Paragon Offshore Prospector-1 rig, which moved off location on 30th August 2017. Hansa is operator of both the Dutch and German GEms licences, Blocks N04, N05, N8 and N07c in the Netherlands, with interests post-EBN participation of 25% to 30%, and the Geldsackplate licence in Germany with an interest of 50%. John Martin, Hansa Hydrocarbon’s CEO, said: 'The success of the Ruby discovery is of great significance for the company. Not only have we proved up a substantial volume but it also confirms the extent of the hitherto poorly understood basal Rotliegend sands in the offshore basin. We now look forward to progressing the commercialisation of Ruby and the appraisal of the adjacent prospects in order to realise the full potential of this exciting new play. Hansa’s decision to pursue this play dates back to its entry into the German offshore with the drilling of the L01-2 well in 2010 which enabled the company to develop a geological model with the use of modern reprocessed 3D seismic. The N05-1 well has now validated this model and leads to a significant de-risking of the neighbouring prospectivity in the GEms, Geldsackplate and 4Quads (G18, H16, M03, N01) licences to the north.'7”
  • 5. Copyright © 2015 NewBase www.hawkenergy.net Edited by Khaled Al Awadi – Energy Consultant All rights reserved. No part of this publication may be reproduced, redistributed, or otherwise copied without the written permission of the authors. This includes internal distribution. All reasonable endeavours have been used to ensure the accuracy of the information contained in this publication. However, no warranty is given to the accuracy of its content. Page 5 US:National Oil and Gas Gateway consolidates well-level data Source: U.S. Energy Information Administration The National Oil and Gas Gateway is the first publicly available website with oil and natural gas well-level data from multiple states. The website was created as a collaborative initiative among the U.S. Energy Information Administration; the Groundwater Protection Council (GWPC) and its member states; and the U.S. Department of Energy’s Office of Oil and Natural Gas, part of the Office of Fossil Energy. Well-level data in the Gateway are updated monthly by the participating states. Ten oil- and natural gas-producing states are currently submitting monthly data to the Gateway: Alabama, Arkansas, Colorado, Kentucky, Mississippi, Nebraska, New York, Oklahoma, Utah, and West Virginia. Participation in the Gateway is open to all oil- and natural gas-producing states, and the GWPC has worked with most of those states to develop the Risk Based Data Management System (RBDMS), a shared data management system developed with the support of the U.S. Department of Energy’s Office of Oil and Natural Gas. Users of the Gateway may view, analyze, and export data for oil and natural gas wells, including: • Well location • Well name, unique well API number, and operator • Current well status and well type • Well production, injection, disposition, and completion data • Hydraulic fracturing chemical disclosure reports from FracFocus • Well depth and drilling orientation—such as directional, horizontal, or vertical Gateway data are available in map, datasheet, or dashboard forms. The map view displays the geographic location of wells and allows users to apply filters by drawing areas directly on the map.
  • 6. Copyright © 2015 NewBase www.hawkenergy.net Edited by Khaled Al Awadi – Energy Consultant All rights reserved. No part of this publication may be reproduced, redistributed, or otherwise copied without the written permission of the authors. This includes internal distribution. All reasonable endeavours have been used to ensure the accuracy of the information contained in this publication. However, no warranty is given to the accuracy of its content. Page 6 The datasheet displays well data in a spreadsheet format that lets users aggregate, sort, and compare wells, and the dashboard provides charts that can be customized and downloaded. The Gateway combines participating states’ publicly available oil and natural gas data into a common framework with consistent definitions. Before the Gateway, these states’ well-level data were only available on individual state websites or in aggregate in commercial databases. Data in the Gateway can be modified only by the respective states. State agency websites should be considered the definitive source for all data in the Gateway.
  • 7. Copyright © 2015 NewBase www.hawkenergy.net Edited by Khaled Al Awadi – Energy Consultant All rights reserved. No part of this publication may be reproduced, redistributed, or otherwise copied without the written permission of the authors. This includes internal distribution. All reasonable endeavours have been used to ensure the accuracy of the information contained in this publication. However, no warranty is given to the accuracy of its content. Page 7 NewBase September 27 - 2017 Khaled Al Awadi NewBase For discussion or further details on the news below you may contact us on +971504822502 , Dubai , UAE Brent oil edges up, near 26-month high amid supply concerns Reuters + NewBase + Bloomberg Brent oil prices rose on Wednesday, hovering around a 26-month high hit in the previous session, after U.S. data showed an unexpected drop in crude stocks as refineries boosted output and amid threats from Turkey to cut crude exports from Iraq. Brent crude for November delivery was up 20 cents, or 0.34 percent, at $58.64 a barrel, as of 0418 GMT. It settled down 1 percent on Tuesday, after earlier hitting $59.49, its highest since July 2015 and more than 34 percent above a 2017 low. U.S. crude for November delivery rose 28 cents, or 0.5 percent, to $52.16, having settled down 0.7 percent after hitting a five-month high of $52.43 in the previous session. Oil prices have been supported by output curbs of 1.8 million barrels per day by the Organization of Petroleum Exporting Countries (OPEC), and cuts by other major producers, although U.S. crude has lagged behind Brent amid concerns that U.S. production growth could stoke oversupply. U.S. crude stocks fell by 761,000 barrels last week as refineries boosted production, while gasoline inventories increased and distillate stocks fell, data from industry group American Petroleum Institute showed on Tuesday, in contrast with market expectations. Refinery crude runs rose by 1.3 million barrels per day, API data showed. U.S. crude inventories were seen rising for a fourth straight week, an extended Reuters poll showed on Tuesday. Oil price special coverage
  • 8. Copyright © 2015 NewBase www.hawkenergy.net Edited by Khaled Al Awadi – Energy Consultant All rights reserved. No part of this publication may be reproduced, redistributed, or otherwise copied without the written permission of the authors. This includes internal distribution. All reasonable endeavours have been used to ensure the accuracy of the information contained in this publication. However, no warranty is given to the accuracy of its content. Page 8 "There's pretty strong upward momentum at the moment," said Ric Spooner, chief market analyst at CMC Markets in Sydney, referring to a better-than-expected near-term supply balance outlook. Crude oil production in Texas, one of the biggest producers of shale oil in the United States, fell less than 1 percent in July compared with a year ago, the state's energy regulator said on Tuesday. "Going forward, oil is likely to remain supported as supply disruptions, combined with solid global demand, will probably continue to lift prices," ANZ said in a research note. Monroe Energy, a subsidiary of Delta Air Lines, ran out of crude oil at its 185,000 barrel-per-day Trainer, Pennsylvania, refinery amid shipping delays due to rough seas caused by Hurricanes Jose and Maria, according to a source familiar with the company's operations and Reuters shipping data. The U.S. Energy Information Administration (EIA) will release stocks data later in the day. Turkish President Tayyip Erdogan on Tuesday repeated a threat to cut off the pipeline that carries 500,000-600,000 barrels per day (bpd) of crude from northern Iraq to the Turkish port of Ceyhan.
  • 9. Copyright © 2015 NewBase www.hawkenergy.net Edited by Khaled Al Awadi – Energy Consultant All rights reserved. No part of this publication may be reproduced, redistributed, or otherwise copied without the written permission of the authors. This includes internal distribution. All reasonable endeavours have been used to ensure the accuracy of the information contained in this publication. However, no warranty is given to the accuracy of its content. Page 9 Citi Says Get Ready for an Oil Squeeze Those in the oil market fearing a flood of OPEC supply next year will probably be better off preparing for a shortage, according to Citigroup Inc. Five countries in the group -- Libya, Nigeria, Venezuela, Iran and Iraq -- may already be pumping at their maximum capacity this year, Ed Morse, the bank’s global head of commodities research, said in an interview. Rather than a surge in output, there’s a risk of a market squeeze emerging as early as 2018, driven by those nations because of weaker investment in exploration and development, he said. “Fear in the market has been that OPEC production will rise dramatically,” said Morse. However, “there could be a supply gap emerging, which could point to a tighter market,” he said in Singapore on the sidelines of the S&P Global Platts APPEC Conference.
  • 10. Copyright © 2015 NewBase www.hawkenergy.net Edited by Khaled Al Awadi – Energy Consultant All rights reserved. No part of this publication may be reproduced, redistributed, or otherwise copied without the written permission of the authors. This includes internal distribution. All reasonable endeavours have been used to ensure the accuracy of the information contained in this publication. However, no warranty is given to the accuracy of its content. Page 10 Crude is still trading more than 50 percent below mid-2014 levels amid concern over whether output curbs by the Organization of Petroleum Exporting Countries will be enough to eliminate a global glut. A gathering in Vienna last week between OPEC and its allies ended with no decision on an extension or deepening of the cuts beyond the first quarter of 2018, while the potential revival of U.S. shale production is also weighing on the outlook for prices. If the output reductions are prolonged, that would only hasten the prospect of a tighter market, said Morse, adding that the source of the supply squeeze will probably be OPEC rather than producers outside the group. “There’s no room for them to do more,” he said, referring to the five nations. “We’re seeing more and more evidence that it’s not the international oil companies, it’s not the independent oil companies that are lagging new investments, but it’s OPEC countries lagging, particularly those five,” he said. In Iran, investors may be vulnerable to U.S. sanctions on dealing with companies owned by the Middle East nation’s Revolutionary Guards, the premier security force that dominates the domestic services sector, said Morse. The OPEC producer is shipping a combined 2.6 million barrels a day of crude and the ultra-light oil known as condensate, and expects to export more at the end of 2017, according to the National Iranian Oil Co. Morse said Iraq’s contract terms weren’t competitive, while major energy companies such as Lukoil PJSC and Royal Dutch Shell Plc had either pulled out of projects or bemoaned the drop in investments. Libya and Nigeria have brought back as much production as they can, he said. Brent crude in London slipped 0.6 percent to $58.68 a barrel at 5:42 p.m. Singapore time. The benchmark for more than half the world’s oil rose to the highest close in more than two years on Monday. West Texas Intermediate fell 0.5 percent to $51.97 a barrel in New York.
  • 11. Copyright © 2015 NewBase www.hawkenergy.net Edited by Khaled Al Awadi – Energy Consultant All rights reserved. No part of this publication may be reproduced, redistributed, or otherwise copied without the written permission of the authors. This includes internal distribution. All reasonable endeavours have been used to ensure the accuracy of the information contained in this publication. However, no warranty is given to the accuracy of its content. Page 11 NewBase Special Coverage News Agencies News Release September 27-2017 It's a Dangerous Moment for OPEC Julian Lee Oil prices are recovering. U.S. storm damage and strengthening economies may have finally dislodged sentiment away from resignation to a future of low oil prices. That's the story, but it isn't the whole picture. And while OPEC and other countries that have cut production will undoubtedly take comfort from Brent near $60 a barrel, they should be wary of taking too much of the credit and certainly can't relax their output restraint. They are not yet out of the woods. On Monday, Brent crude came within a dollar of the $60-mark that seems to be OPEC's unofficial target (at least for now), although U.S. benchmark WTI is lagging ever further behind. Nine months of output cuts by the group and its friends have certainly contributed to the higher prices. But to pin the 16 percent rally in Brent crude since August 30 on these actions alone would be a mistake, and raise the risk that ministers make the wrong decisions in the months ahead.
  • 12. Copyright © 2015 NewBase www.hawkenergy.net Edited by Khaled Al Awadi – Energy Consultant All rights reserved. No part of this publication may be reproduced, redistributed, or otherwise copied without the written permission of the authors. This includes internal distribution. All reasonable endeavours have been used to ensure the accuracy of the information contained in this publication. However, no warranty is given to the accuracy of its content. Page 12 Oil traders and executives meeting in Singapore this week are more focused on the state of the global economy and the resulting strength of oil demand than they are on output cuts. One thing that sets this year's strong economic performance apart is that it is touching economies everywhere. Yes, the economic boom may be particularly strong in emerging Asian economies, but it extends further, including to the developed economies of the U.S. and Europe. And that boom is being felt particularly in demand for so-called middle distillates -- diesel, heating oil and jet fuel -- and for petrochemical products. Weekly data from the U.S. Energy Information Administration bear this out, with distillate demand up 9 percent so far this year compared with the same period in 2016, and inventories dipping below their 5-year average in last week's preliminary data. U.S. jet fuel inventories fell below their five-year average in July and gasoline is headed in the same direction. Add to this the suggestion that, as I wroteon Sunday, U.S. oil production growth has been over- estimated, and it is easy to see why sentiment is shifting away from "lower for longer" towards rebalancing. But we need to be careful, because there are short-term factors whose influence we neglect at our peril. Disruptions to U.S. refineries caused by Hurricane Harvey have been a big factor in driving the correction in the country's product inventories. Crude oil input to refineries fell around 3 million barrels a day, or 17 percent, below normal in the three weeks to Sept. 15, curtailing production of distillates and gasoline. But the storm had a much smaller and shorter impact on crude oil production, which fell by 750,000 barrels a day the week the storm made landfall but recovered most of that over the two following weeks.
  • 13. Copyright © 2015 NewBase www.hawkenergy.net Edited by Khaled Al Awadi – Energy Consultant All rights reserved. No part of this publication may be reproduced, redistributed, or otherwise copied without the written permission of the authors. This includes internal distribution. All reasonable endeavours have been used to ensure the accuracy of the information contained in this publication. However, no warranty is given to the accuracy of its content. Page 13 For an overall rebalancing of the market, it is the volume of crude coming out of the ground, rather than products coming out of refineries, that is most important. And the U.S. refinery hiccup should prove temporary. The Kurdish referendum on independence from Iraq may have no immediate impact on oil supply, but it is a timely reminder that potentially disruptive political events in the Middle East can never be ignored. Threats to political stability in the region can quickly boost oil prices, as they did Monday, while the easing of those threats can just as quickly unwind the rally. The vote will almost certainly deliver a mandate for independence, but the impact on oil supply will depend on the reactions of the region's neighbors. Turkey has already threatened to shut the taps on the only route to market for nearly 600,000 barrels a day of crude exported through the Kurdistan region of Iraq. Were it to follow through on this threat, it would be equivalent to boosting OPEC's output cut by half and would certainly hasten market rebalancing. Can the crude rally last? If economic growth remains strong then oil demand may continue to outstrip supply, slowly eating into the surplus inventory. The focus on over-supply will switch to worries about impending shortage. Indeed, Citigroup Inc. and Trafigura Group are already there. And the global demand picture looks promising: the International Energy Agency sees it growing by 1.6 million barrels a day in 2017, up from a June forecast for growth of less than 1.3 million barrels a day.
  • 14. Copyright © 2015 NewBase www.hawkenergy.net Edited by Khaled Al Awadi – Energy Consultant All rights reserved. No part of this publication may be reproduced, redistributed, or otherwise copied without the written permission of the authors. This includes internal distribution. All reasonable endeavours have been used to ensure the accuracy of the information contained in this publication. However, no warranty is given to the accuracy of its content. Page 14 But, as I wrote here, that boost to demand growth comes entirely from a downward revision to last year's oil use, not an increase in how much the IEA thinks the world will consume this year. With no corresponding downward revision to last year's oil supply, that can only mean that there is even more excess inventory than previously thought. And, higher crude prices have yet to feed through fully to gas station forecourts -- but they will, raising the cost of driving, which is already above last year's level. That alone will cut into demand growth, never mind the drag that rising oil prices, and their inflationary impact, may have on economic prospects. Then there is shale. U.S. oil prices are still well short of $60 a barrel, but they are already high enough to start encouraging some producers to begin locking in prices for next year and boosting investment. When OPEC and their friends meet at the end of November, their decision on the future of their output agreement may be no easier to make. At that time, the deal will still have four months to run, so don't be surprised if they simply decide to kick the can down the road and leave a formal decision on where to go next for another meeting early in 2018. If the recent past has shown us anything, it is that the market outlook can change dramatically in four months
  • 15. Copyright © 2015 NewBase www.hawkenergy.net Edited by Khaled Al Awadi – Energy Consultant All rights reserved. No part of this publication may be reproduced, redistributed, or otherwise copied without the written permission of the authors. This includes internal distribution. All reasonable endeavours have been used to ensure the accuracy of the information contained in this publication. However, no warranty is given to the accuracy of its content. Page 15 NewBase For discussion or further details on the news below you may contact us on +971504822502, Dubai, UAE Your partner in Energy Services NewBase energy news is produced daily (Sunday to Thursday) and sponsored by Hawk Energy Service – Dubai, UAE. For additional free subscription emails please contact Hawk Energy Khaled Malallah Al Awadi, Energy Consultant MS & BS Mechanical Engineering (HON), USA Emarat member since 1990 ASME member since 1995 Hawk Energy member 2010 Mobile: +97150-4822502 [email protected] [email protected] Khaled Al Awadi is a UAE National with a total of 27 years of experience in the Oil & Gas sector. Currently working as Technical Affairs Specialist for Emirates General Petroleum Corp. “Emarat“ with external voluntary Energy consultation for the GCC area via Hawk Energy Service as a UAE operations base , Most of the experience were spent as the Gas Operations Manager in Emarat , responsible for Emarat Gas Pipeline Network Facility & gas compressor stations . Through the years, he has developed great experiences in the designing & constructing of gas pipelines, gas metering & regulating stations and in the engineering of supply routes. Many years were spent drafting, & compiling gas transportation, 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 and Energy program broadcasted internationally, via GCC leading satellite Channels. NewBase : For discussion or further details on the news above you may contact us on +971504822502 , Dubai , UAE NewBase September 2017 K. Al Awadi
  • 16. Copyright © 2015 NewBase www.hawkenergy.net Edited by Khaled Al Awadi – Energy Consultant All rights reserved. No part of this publication may be reproduced, redistributed, or otherwise copied without the written permission of the authors. This includes internal distribution. All reasonable endeavours have been used to ensure the accuracy of the information contained in this publication. However, no warranty is given to the accuracy of its content. Page 16
  • 17. Copyright © 2015 NewBase www.hawkenergy.net Edited by Khaled Al Awadi – Energy Consultant All rights reserved. No part of this publication may be reproduced, redistributed, or otherwise copied without the written permission of the authors. This includes internal distribution. All reasonable endeavours have been used to ensure the accuracy of the information contained in this publication. However, no warranty is given to the accuracy of its content. Page 17