COMMITEDTOBETTERENERGY. 2014FinancialTransparency ExampleofTotalinNigeria (2013data)
|
|
- Miles Bailey
- 7 years ago
- Views:
Transcription
1 COMMITEDTOBETTERENERGY 2014FinancialTransparency ExampleofTotalinNigeria (2013data)
2 The contractual framework of Total s operations in Nigeria Total has been present in Nigeria since Its upstream subsidiaries Total E&P Nigeria Limited and Total Upstream Nigeria Limited have participating interests in a number of the licenses allocated by the Federal Government. Total is also present through Total LNG Nigeria Limited which owns 15% in Nigeria LNG Ltd and Brass Holdings Company Limited which currently owns 17% in Brass LNG Ltd. The other upstream Total subsidiaries in Nigeria are: Total Exploration Nigeria Ltd; Total Petroleum Nigeria Ltd; and Total E & P Nigeria Deepwater A through H Ltd. Nigeria grants two types of petroleum titles namely (i) the Oil Prospecting License ( OPL ), and (ii) the Oil Mining Lease ( OML ). The OML is granted upon application by a holder of an OPL who satisfies the relevant criteria for such grant, including discovery of hydrocarbons in commercial quantities. Total s acreage in Nigeria as of 31st December 2013 License Type of contract Total s role OMLs Interests (%) Entry date Concession (JV) Partner August 1, 1989 OML 58 Concession (JV) Operator OMLs Initial: June 14, 1967 Renewed: June 3, 1998 Concession (JV) Partner December 1, 1988 OMLs Concession (JV) Operator OML 130 (part of ex-opl 246) December 4, 1986 Renewed: May, 2013 PSA* Operator February 24, 2005 OML 118 PSC** Partner December 1, 2005 OMLs Concession Technical Adviser August 13, 2005 OML 135 PSC Partner July 17, 2006 OML 136 OML 138 (part of ex-opl 222) Concession Technical Adviser May 4, 2007 PSC Operator October 24, 2006 OPL 223 PSC Operator July 18, 2005 OPL 257 PSC Technical Adviser July 20, 2007 OPL 285 PSC Partner May 23, 2007 OPL 297 (OPL 246 W) PSA Partner septembre 1998 * PSA: Production Sharing Agreement (private agreement relating to production sharing between international oil companies and local companies) ** PSC: Production Sharing Contract
3 Total s production and projects in Nigeria (1) Year Total s SEC* Production Total Liquids Natural gas kboe/d kb/d Mcf/d * SEC : Securities and Exchange Commission In Nigeria, Group production in 2013 was 261 kboe/d compared to 279 kboe/d in 2012 and 287 kboe/d in These declines are primarily due to the sharp increase in oil bunkering and in 2013 the blockade of Nigeria LNG export cargos. Despite such factors negatively affecting production, Nigeria remained the largest contributor to the Group s production. TOTAL, which has been present in the country since 1962, operates six production licenses (OML) out of the thirty-eight in which it has a stake, and one out of the four exploration licenses (OPL) in which it is present. (1) The information stated in above paragraph is extracted from 2013 Registration Document submitted to the Financial Market Authority (AMF) on the 27 th of March 2014.
4 Regarding variations in TOTAL s licenses: In September 2013, TOTAL was granted approval by the authorities to increase its stake in Exploration license OPL 285 from 26.67% to 60%. In May 2013, TOTAL obtained the approval of the authorities for the renewal of licenses OML 99, 100 and 102 for a period of twenty years. On the OML 138 license (20%), TOTAL started production in the Usan offshore field in 2012 (180 kb/d, FPSO capacity), which reached the level of 130 kboe/d in Since February 2014, TOTAL is no longer the operator of the OML 138 license. In 2012, TOTAL signed an agreement for the sale of its 20% stake in Block OML 138. The disposal is currently being finalized. TOTAL decided not to continue its exploration activities in JDZ Block 1 (48.6%, operator) following the analysis of the results of wells drilled in Block was relinquished in September Also, the Block OPL 221 was relinquished in November TOTAL sold its 10% stake in Blocks OML 26 and 42 in 2011 and in Blocks OML 30, 34 and 40 in These interests had previously been indirectly controlled via the joint venture Shell Petroleum Development Company (SPDC). TOTAL continues, with its developments, to meet the growing domestic demand for gas and to strengthen its ability to supply gas to the LNG projects in which it owns a stake: As part of its joint venture with the Nigerian National Petroleum Company (NNPC), TOTAL is pursuing the project to increase the gas production capacity of the OML 58 license (40%, operator) from 370 Mcf/d to 550 Mcf/d. On the OML 102 license (40%, operator), TOTAL is continuing to develop the Ofon phase 2 project, which was launched in 2011, with an expected capacity of 70 kboe/d and production start-up is scheduled for the end of In 2011, the Group also discovered Etisong North, located 15 km from the currently-producing Ofon field. The exploration campaign continued in 2012 with the drilling of the Eben well, which is also south of Ofon. The positive results produced by this well further enhance the interest of the future Etisong-Eben development hub as a satellite of the Ofon field. On the OML 130 license (24%, operator), the development of the Egina field (capacity of 200 kboe/d) was launched in June 2013 and contracts have been awarded. Production start-up is expected at year-end On the OML 99 license (40%, operator), engineering work is underway to develop the Ikike field, where production is expected to start in 2017 (estimated capacity of 55 kboe/d). On the OML 112/117 licenses (40%), development studies have been suspended waiting for the resolution of contractual issues that arose in TOTAL is also active in the LNG sector with a 15% holding in the company Nigeria LNG, which possesses a liquefaction plant of a total capacity of 22 Mt/y. In addition, TOTAL holds a 17% stake in Brass LNG, which is continuing to study the project for a gas liquefaction plant with two LNG trains of a capacity of 5 Mt/y each. The production that is not operated by the Group in Nigeria comes mainly from the SPDC joint venture, in which TOTAL holds a 10% stake. The sharp increase of oil bunkering in 2013 had an impact on onshore production, as well as on the integrity of the facilities and the local environment. In addition, TOTAL also holds a 12.5% stake in the OML 118 deep-offshore license. In connection with this license, the Bonga field contributed 15 kboe/d to Group production in The partners continued
5 the development of the Bonga Northwest project in On the OML 118 license, a pre-unitization agreement relating to the Bonga South West discovery has been signed in December Taxes and other payments The Federal Government, through its agencies, received from Total in Nigeria (Exploration & Production segment), the following taxes as detailed within table below: Millions US$ Petroleum Profit Tax 698 1,053 Royalty OIL Royalty - GAS Other taxes Total 1,693 2,206 In addition to the above royalties and taxes, the Federal Government also received 5,268 million Naira in 2013 as Niger Delta Development Commission contributions. EITI (Extractive Industries Transparency Initiative) in Nigeria Nigeria was accepted as an EITI Candidate country on September 27, 2007 and submitted its final Validation report to the EITI Board on June 29, The EITI Board designated Nigeria as EITI Compliant on March 1, NEITI published the audit reports for 2009, 2010 and 2011 on January 31, The firm Sada Idris and Co has conducted these financial audits that will be followed by physical and process audits. Nigeria must be revalidated by February 29, (For further information:
Within the Ministry of Petroleum Resources, technical issues of policy nature, regulatory control of the industry, revenues, royalties and fiscal
Nigeria s practice and experience in its domestic licensing regimes and views on the implementation of Article 82 with regard to its offshore oil and gas activities By Adesina Adegbie International Workshop
More informationNigeria. Olaniwun Ajayi LP
Olaniwun Ajayi LP Introduction Exploration for oil and gas in began in 1908, with the first discovery being made in the Niger Delta in 1956. s first refinery began operations in 1965, with a capacity of
More informationNigeria: A market for the Danish offshore industry? Seminar. Peter Blach, Offshore Center Danmark Tuesday, March 11th 2008 at Offshore Center Danmark
Nigeria: A market for the Danish offshore industry? Seminar Peter Blach, Offshore Center Danmark Tuesday, March 11th 2008 at Offshore Center Danmark 1 The Nigerian Oil Industry Nigerian Oil Industry: Introduction
More informationA clear business model and strategy
Our business model and strategy introduction Our business model and strategy have remained consistent since inception and have proven valid in both high and low oil price cycles. A clear business model
More informationAbdelly & Associés. Key legislation and regulatory structure. Introduction
Abdelly & Associés Introduction s current proven reserves are approximately 838m barrels, of which 51 per cent is oil and 49 per cent is gas. Approximately two-thirds of s proven gas reserves are located
More informationCOMPANY UPDATE FIRST QUARTER 2016 RESULTS
COMPANY UPDATE FIRST QUARTER 2016 RESULTS ROYAL DUTCH SHELL 4 MAY 2016 Copyright of Royal Dutch Shell plc May 4, 2016 1 SIMON HENRY CHIEF FINANCIAL OFFICER ROYAL DUTCH SHELL PLC 2 DEFINITIONS & CAUTIONARY
More informationTHE UNDERWRITING OF OIL AND GAS RISKS IN ANGLOPHONE WEST AFRICA
1 THE UNDERWRITING OF OIL AND GAS RISKS IN ANGLOPHONE WEST AFRICA Like the birth of an overdue baby, Sierra Leone awaits the discovery of oil. It has become a topical issue with high hopes and expectations
More informationTanzania gas project. From discovery to gas sales
Tanzania gas project From discovery to gas sales An emerging gas sector Major gas discoveries have been made offshore Tanzania and the country emerges as a potential large gas producer in East Africa.
More informationTHE NIGERIAN OIL AND GAS INDUSTRY & ITS CHANGING INVESTMENT CLIMATE
THE NIGERIAN OIL AND GAS INDUSTRY & ITS CHANGING INVESTMENT CLIMATE By Sola Adepetun Managing Partner International Bar Association African Regional Forum 6 th 8 th November, 2013 Lagos, Nigeria INTRODUCTION
More informationNewell Dennison. Institute of the Americas XXII Annual La Jolla Energy Conference May 20 22, 2013 La Jolla, California, U.S.A.
Newell Dennison Institute of the Americas XXII Annual La Jolla Energy Conference May 20 22, 2013 La Jolla, California, U.S.A. 2 COUNTRY PROFILE Capital: Languages: Georgetown English (Official) Amerindian
More informationBriefing note: EITI and commodity trading
Briefing note: EITI and commodity trading In many countries, the state receives a share of oil and gas that is being produced. These physical revenues can occur because the state or a State-Owned Enterprise
More informationMarginal Field Development: Best Practices & Lessons Learned
Marginal Field Development: Best Practices & Lessons Learned by George Osahon Director, Petroleum Resources Ministry of Petroleum Resources, Nigeria SOCIETY OF PETROLEUM ENGINEERS 37 TH NIGERIA ANNUAL
More informationNigeria 12.9. 12.9.1 Introduction
12.9 Nigeria 12.9.1 Introduction The main elements of Nigerian law relating to the exploration and production of oil and gas are to be found in Twentieth century legislation. Such legislation is exemplified
More informationUPSTREAM OIL AND GAS INDUSTRY IN KENYA
UPSTREAM OIL AND GAS INDUSTRY IN KENYA INTRODUCTION What is Upstream Oil and Gas? The petroleum industry is broadly divided into three segments namely: upstream (exploration and production), mid-stream
More informationCooper Energy and the East Coast Gas Market
Cooper Energy and the East Coast Gas Market Cooper Energy is an ASX-listed oil and gas company that is engaged in: developing new gas supply projects; marketing gas directly to eastern Australian gas users;
More informationExisting Laws and Policies in the. Nigerian Extractive Industries
Existing Laws and Policies in the Nigerian Extractive Industries 14, Oguda Close, Off Lake Chad Crescent, Maitama, Abuja Coalitions for Change, 2010 All rights reserved. This book is copyright and so no
More informationGUIDELINES AND PROCEDURES FOR OBTAINING MINISTER S CONSENT TO THE ASSIGNMENT OF INTEREST IN OIL AND GAS ASSETS
GUIDELINES AND PROCEDURES FOR OBTAINING MINISTER S CONSENT TO THE ASSIGNMENT OF INTEREST IN OIL AND GAS ASSETS In the wake of increasing acquisition, divestment and financing activities within the upstream
More informationManagement Strategy - The Strategic Plan
NIKO REPORTS RESULTS FOR THE YEAR ENDED MARCH 31, 2016 Niko Resources Ltd. ( Niko or the Company ) is pleased to report its operating and financial results for the quarter and year ended March 31, 2016.
More informationNigeria Sao Tome and Principe, Joint Development Zone First EITI Report 2003-2013
www.pwc.pt Nigeria Sao Tome and Principe, Joint Development Zone First EITI Report 2003-2013 First EITI Report November 2014 Index Glossary of abbreviations and terms 2 Independent Administrator Nature
More informationCAMEROON. Kribi. Cameroon LNG Project. The partnership CENTRAL AFRICAN REPUBLIC NIGERIA. Douala Yaoundé DEMOCRATIC REPUBLIC OF THE CONGO
Cameroon LNG Cameroon LNG Project The Cameroon LNG project will consist of a production plant located 30km south of Kribi on the Southern Coastline of Cameroon and will be supplied by a national gas transportation
More informationGEOLOGY AND PETROLEUM POTENTIALS OF NIGERIA SEDIMENTARY BASINS
GEOLOGY AND PETROLEUM POTENTIALS OF NIGERIA SEDIMENTARY BASINS Introduction The Federal Republic of Nigeria has a teeming population of over 130 million people. The country has an approximate surface area
More informationNOC IOC partnerships
NOC IOC partnerships In the build up to the 2012 World National Oil Companies Congress we asked some of our speakers 3 key questions. 1. What are the key ingredients for a successful NOC IOC partnership?
More informationTHE SHIFT FROM JOINT OPERATING AGREEMENTS TO PRODUCTION SHARING CONTRACTS IN THE NIGERIAN OIL INDUSTRY: ANY BENEFITS FOR THE PLAYERS?
THE SHIFT FROM JOINT OPERATING AGREEMENTS TO PRODUCTION SHARING CONTRACTS IN THE NIGERIAN OIL INDUSTRY: ANY BENEFITS FOR THE PLAYERS? MADAKI O. AMEH Madaki.O.Ameh@shell.com ABSTRACT: The Oil and Gas industry
More informationHalf-yearly Results. 25 July 2014
Half-yearly Results 25 July 2014 1 1 Important notice DISCLAIMER FORWARD-LOOKING STATEMENTS This announcement may include statements that are, or may be deemed to be, "forward-looking statements". These
More informationWorldwide Technip in Nigeria
Worldwide Technip in Nigeria Strategy for Nigerian content Technip profile Technip is a world leader in project management, engineering and construction for the energy industry. With a workforce of 40,000
More informationBrochure More information from http://www.researchandmarkets.com/reports/605169/
Brochure More information from http://www.researchandmarkets.com/reports/605169/ Malaysia Oil and Gas Exploration and Production Industry Investment Opportunities, Analysis and Forecasts of All Active
More informationBrochure More information from http://www.researchandmarkets.com/reports/705876/
Brochure More information from http://www.researchandmarkets.com/reports/705876/ Malaysia Oil and Gas Exploration and Production Industry Investment Opportunities, Analysis and Forecasts of All Active
More informationMinistério de Minas e Energia. Minister Eduardo Braga. Offshore Technology Conference OTC May/2015
1 Minister Eduardo Braga Offshore Technology Conference OTC May/2015 2 3 World s 7 th largest economy; Investment grade Fiscal adjustment taking place; Inflation being controlled; Large and diversified
More informationAn Innovative NDC Funding Solution Kenya
An Innovative NDC Funding Solution Kenya Eunice Kilonzo GIS Coordinator National Oil Corporation of Kenya Kenya 1 Who We are Outline Upstream Petroleum Exploration Journey Data Management Initiatives Petroleum
More informationRaising Capital for Oil & Gas:
Raising Capital for Oil & Gas: Options, Opportunities & Outlook Presented By: Dolapo Oni Ecobank Research About Ecobank Group A Snapshot Facts Present in 39 countries worldwide Operating in 35 African
More informationShunsaku Miyake. JX Holdings. JX Nippon Mining & Metals. JX Nippon Oil & Gas Exploration. JX Nippon Oil & Energy
Shunsaku Miyake JX Holdings JX Nippon Oil & Energy JX Nippon Oil & Gas Exploration JX Nippon Mining & Metals 1 Business Field Business Field Acquistion of License Blocks We first aim to acquire an interest
More informationWorld Oil Markets and the Challenges for Australia
World Oil Markets and the Challenges for Australia John Akehurst Managing Director Woodside Energy Ltd. ABARE OUTLOOK 22 6 March 22 World Oil Markets and the Challenges for Australia Page 2 of 12 Summary
More informationWHL ENERGY SEPTEMBER 2011 QUARTERLY ACTIVITIES REPORT
WHL Energy Ltd ABN: 25 113 326 524 Level 2, 22 Delhi St, West Perth, WA 6005 P.O. Box 1042, West Perth Western Australia 6872 T: +61 8 6500 0271 F: +61 8 9321 5212 www.whlenergy.com ASX/MEDIA RELEASE 31
More informationCooperation in Oil and Gas Activities
National Oil Company / International Oil Company Cooperation in Oil and Gas Activities OPEC International Seminar 2006 12 th 13 th September, 2006 Vienna, Austria Content Global Industry Dynamics and Production
More informationNIGERIA EXTRACTIVE INDUSTRIES TRANSPARENCY INITIATIVE
in association with NIGERIA EXTRACTIVE INDUSTRIES TRANSPARENCY INITIATIVE REPORT ON THE PROCESS AUDIT 1999-2004 REFINERIES AND PRODUCT IMPORTATION APPENDIX D: VARIOUS PPMC DATA SUBMITTED Presented to The
More informationNigerian/Local Content Policy
Nigerian/Local Content Policy Dr. Adeoye Adefulu Odujinrin & Adefulu Barristers, Solicitors & Notaries Public Lagos Abuja Port Harcourt Outline What is Nigerian/local content? Policy History Other countries
More information2015 SRI FIELD TRIP TO CANADA. ROYAL DUTCH SHELL September 15, 2015
2015 SRI FIELD TRIP TO CANADA ROYAL DUTCH SHELL September 15, 2015 1 DEFINITIONS AND CAUTIONARY NOTE The New Lens Scenarios referred to in this presentation are part of an ongoing process used in Shell
More informationA focus on. West Africa. years of change
A focus on West Africa years of change A proven track record Gas Strategies is a leading commercial adviser to the global energy business. We have a proven track record of working with clients for more
More informationROYAL MALAYSIAN CUSTOMS GOODS AND SERVICES TAX GUIDE
ROYAL MALAYSIAN CUSTOMS GOODS AND SERVICES TAX GUIDE ON PETROLEUM DOWNSTREAM TABLE OF CONTENTS INTRODUCTION... 1 Overview of Goods and Services Tax (GST)... 1 GENERAL OPERATIONS OF PETROLEUM DOWNSTREAM...
More informationNIKO REPORTS RESULTS FOR THE QUARTER ENDED SEPTEMBER 30, 2015
NIKO REPORTS RESULTS FOR THE QUARTER ENDED SEPTEMBER 30, 2015 Niko Resources Ltd. ( Niko or the Company ) is pleased to report its operating and financial results for the quarter ended September 30, 2015.
More informationFor personal use only
Antilles Oil and Gas NL ACN 111 823 762 HALF YEAR REPORT 30 June 2015 The information contained in this document should be read in conjunction with Antilles Oil and Gas NL s annual report for the year
More informationFinancial reporting in the oil and gas industry. International Financial Reporting Standards
www.pwc.com/energy Financial reporting in the oil and gas industry International Financial Reporting Standards 2 nd edition Foreword International Financial Reporting Standards (IFRS) provide the basis
More informationAT A GLANCE. $17 billion $60 billion 42 million 6,000
APACHE AT A GLANCE Apache s asset portfolio reaches from the United States where its operations are focused on the Gulf Coast and the Gulf of Mexico, the Anadarko Basin and the Permian Basin to Canada,
More informationAnnouncement on Providing Guarantee for the Subsidiary Company - Offshore Oil Engineering (Qingdao) Co., Ltd. by Offshore Oil Engineering Co., Ltd.
Announcement on Providing Guarantee for the Subsidiary Company - Offshore Oil Engineering (Qingdao) Co., Ltd. by Offshore Oil Engineering Co., Ltd. Important Notes The board of directors and all the directors
More informationSafety and operational efficiency go together
2014 Results and outlook February 2015 Safety Safety and operational efficiency go together Improving both safety and operational efficiency Safety performance TRIR and LTIR* 94 540 million man-hours 90
More informationOil & Gas Capital Expenditure Outlook 2013. GDGE0020TR / Published January 2013
Oil & Gas Capital Expenditure Outlook 2013 GDGE0020TR / Published January 2013 Global Oil and Gas Capital Expenditure is Expected to Increase to US$XX Billion in 2013 The global oil and gas capital expenditure
More informationSTRATEGIC CONSULTING AND INDUSTRY ADVISORY SERVICES Due Diligence and Advisor to Lenders and Investors
For over 20 years, Baker & O'Brien consultants have acted as "Technical Advisor" on major energy projects. In this role, we often perform a technical and economic due diligence analysis of the project.
More informationNamibia. Koep & Partners. Introduction
Koep & Partners Introduction Key legislation and regulatory structure Once largely ignored by international oil and gas companies, has in recent times been called one of the last frontiers of oil and gas
More informationDelivering for the future
Dragon Oil Delivering for the future ANNUAL REPORT 2014 Principal Risks The Board and management are committed to an effective and proactive approach to risk management as a tool to enhance shareholder
More informationBrazil exploration assets Rui Baptista Head of Exploration Brazil. 1 Capital Markets Day - March 14th 2011
Brazil exploration assets Rui Baptista Head of Exploration Brazil 1 Capital Markets Day - March 14th 2011 Overview Exploration assets Angola development Brazil exploration assets Pre-salt Santos basin
More informationI18.998 DDEDICATION 15O30.974 16P32.065 20T40.078 13M26.982 19S39.098 5E10.811 SERVICES TO OPTIMISE EVERY PART OF THE OIL, GAS AND CHEMICALS INDUSTRY
15O30.974 16P32.065 20T40.078 9 I18.998 OPERATION PROFITISATION TRANSFORMATION INFORMATION 13M26.982 9 I18.998 19S39.098 MAXIMISATION INSPECTION SOLUTION 5E10.811 4 9.0122 EVALUATION DDEDICATION SERVICES
More informationSOUTH BLOCK A ( SBA ) PEAK S JV PARTNER KRX ENERGY SECURES ADDITIONAL FUNDING
18 th June 2013 SOUTH BLOCK A ( SBA ) PEAK S JV PARTNER KRX ENERGY SECURES ADDITIONAL FUNDING SBA joint venture partner KRX Energy Pte Ltd ( KRX ) secures fresh funding through proposed investment by Risco
More informationOverview of the Nigerian Petroleum Industry Bill
Overview of the Nigerian Petroleum Industry Bill The Petroleum Industry Bill (the PIB or the Bill ) is perhaps the most talked about piece of legislation in Nigeria given the far reaching reforms which
More informationRoyal Dutch Shell plc
Royal Dutch Shell plc 4 TH QUARTER AND FULL YEAR 2011 UNAUDITED RESULTS Royal Dutch Shell s fourth quarter 2011 earnings, on a current cost of supplies (CCS) basis (see Note 1), were $6.5 billion compared
More informationBig country, cheap gas: These are two main conditions for a successful mini-lng business
Big country, cheap gas: These are two main conditions for a successful mini-lng business The whole world is waking up to benefits of smallscale LNG. The leaders in this business developmen t are the U.S.A.
More informationFinancial review. Profit and loss account
Financial review Profit and loss account 108,082 Net sales from operations 83,227 98,523 15,296 18.4 728 Other income and revenues 1,118 956 (162) (14.5) (80,354) Operating expenses (62,532) (73,920) (11,388)
More informationMEXICAN ENERGY REFORMS
MEXICAN ENERGY REFORMS JOHNS HOPKINS UNIVERSITY School of Advanced International Studies Dr. Francisco Barnés de Castro Comisión Reguladora de Energía Abril 29, 2014 1. Brief history of the energy industry
More informationAbdul Zakariya August 29, 2015
Market Summary The All-Share Index declined 3.56 percent this week. Similarly, all the Indices finished lower during the week with the exception of the NSE ASeM Index that closed flat. Zenith International
More informationKULCZYK OIL VENTURES INC.
KULCZYK OIL VENTURES INC. For the year ended December 31, 2011 (US Dollars) This ( MD&A ) for Kulczyk Oil Ventures Inc. ( KOV, Kulczyk Oil, or the Company ) should be read in conjunction with the audited
More informationNigeria Oil & Gas OSCAR ONYEMA, CEO, NSE. Attracting Oil and Gas Companies to the Nigerian Stock Exchange. Intelligence
NOG Finance Nigeria Oil & Gas Edition Intelligence June 2013 www.nogintelligence.com Report: President Jonathan s Mid-Term Report on the Oil and Gas Industry Features: Top Banks in Oil and Gas Finance
More informationQ1 2014 CONFERENCE CALL REMARKS REMARKS FROM DR. MICHAEL HESSION
Q1 2014 CONFERENCE CALL REMARKS REMARKS FROM DR. MICHAEL HESSION Hello, and thank you for joining the call today as we explain our first quarter results. I am Michael Hession, Chief Executive Officer of
More informationState of Alaska Special Session
State of Alaska Special Session LNG Business Development Commercial Context The State of Alaska Special Session State Legislative Chambers Juneau, 24 October 2015 Phillip Fletcher, Partner, Milbank Ijaz
More informationPETROLEUM FISCAL REGIME MALAYSIA S EXPERIENCE SYAKIRAH BT MD. NOR MINISTRY OF FINANCE MALAYSIA
PETROLEUM FISCAL REGIME MALAYSIA S EXPERIENCE SYAKIRAH BT MD. NOR MINISTRY OF FINANCE MALAYSIA 12 AUGUST 2015 AN OVERVIEW OF PETROLEUM ACTIVITIES IN MALAYSIA First commercial eploitation of crude oil began
More informationAustralia The Future for Oil and Gas
Australia The Future for Oil and Gas Philip Aiken President and CEO BHP Billiton Petroleum Asia Pacific Petroleum Conference Singapore, September 2003 Australia historical production MMboe 200 150 100
More informationUNITED NATIONS CONFERENCE ON TRADE AND DEVELOPMENT UNCTAD/CALAG AFRICAN OIL AND GAS SERVICES SECTOR SURVEY VOLUME 1 NIGERIA
UNITED NATIONS CONFERENCE ON TRADE AND DEVELOPMENT UNCTAD/CALAG AFRICAN OIL AND GAS SERVICES SECTOR SURVEY VOLUME 1 NIGERIA CREATING LOCAL LINKAGES BY EMPOWERING INDIGENOUS ENTREPRENEURS UNITED NATIONS
More informationNIKO REPORTS RESULTS FOR THE QUARTER ENDED DECEMBER 31, 2015
NIKO REPORTS RESULTS FOR THE QUARTER ENDED DECEMBER 31, 2015 Niko Resources Ltd. ( Niko or the Company ) is pleased to report its operating and financial results for the quarter ended December 31, 2015.
More informationCHAPTER 350 PETROLEUM ACT ARRANGEMENT OF SECTIONS
CHAPTER 350 PETROLEUM ACT ARRANGEMENT OF SECTIONS SECTION 1. Vesting of petroleum in the State, etc. 2. Oil exploration licences, oil prospecting licences and oil mining licences. 3. Refineries. 4. Control
More informationCENTURY ENERGY LTD. FORM 51-102F1 MANAGEMENT DISCUSSION AND ANALYSIS FOR THE YEAR ENDED AUGUST 31, 2014
CENTURY ENERGY LTD. FORM 51-102F1 MANAGEMENT DISCUSSION AND ANALYSIS FOR THE YEAR ENDED AUGUST 31, 2014 The following management s discussion and analysis ( MD&A ), prepared as of December 11, 2014, should
More informationShell s Corporate Social Responsibility in the Niger Delta
Shell s Corporate Social Responsibility in the Niger Delta Attn: Basil Omiyi, Country Chair for Shell Companies in Nigeria and Managing Director Shell Petroleum Development of Nigeria (SPDC) By: Breane
More informationAlaska Oil and Gas Tax Credit Working Group BlueCrest Energy - Cook Inlet Presentation
Alaska Oil and Gas Tax Credit Working Group BlueCrest Energy - Cook Inlet Presentation J. Benjamin Johnson Anchorage, September 22, 2015 Main Points Applicable to Cook Inlet It is too early to declare
More informationVAALCO ENERGY ANNOUNCES FIRST QUARTER 2015 RESULTS
VAALCO ENERGY ANNOUNCES FIRST QUARTER 2015 RESULTS HOUSTON MAY 7, 2015 VAALCO Energy, Inc. (NYSE: EGY) today reported results for the first quarter of 2015. First Quarter 2015 highlights: Successfully
More informationNigeria. Latifat Folashade Yusuff Lawyer
Latifat Folashade Yusuff Lawyer 1. Introduction The oil industry in Nigeria dates back to the 1950s when oil was discovered in Oloibiri 1 after 50 years of oil exploration. 2 At the time, Shell-BP was
More informationNews Release. Communiqué de Presse. First quarter 2015 results. Paris, April 28, 2015. 1Q15 1Q14 Change vs 1Q14
News Release Communiqué de Presse Paris, April 28, 2015 First quarter 2015 results 2, place Jean Millier Arche Nord Coupole/Regnault 92 400 Courbevoie France Mike SANGSTER Nicolas FUMEX Patrick GUENKEL
More informationAdjusted net income 1 - in billions of dollars (B$) 2.1-26% 10.5-18% - in dollars per share 0.88-28% 4.51-20%
Paris, February 11, 2016 News Release Communiqué de Presse Fourth quarter and full-year results 123 4Q15 Change 4Q14 Change 2, place Jean Millier Arche Nord Coupole/Regnault 92 400 Courbevoie France Mike
More informationPETROLEUM SECTOR DEVELOPMENTS IN EGYPT
PETROLEUM SECTOR DEVELOPMENTS IN EGYPT March 2009 2009 Business Studies & Analysis Center. All rights reserved. Unauthorized reproduction, copying, re-mailing, storage or website posting is prohibited.
More informationNigeria s Oil and Gas Industry Brief
KPMG Professional Services Nigeria s Oil and Gas Industry Brief JUNE 2014 KPMG NIGERIA 2014 KPMG Advisory Services, a partnership registered in Nigeria, and a member of the KPMG network of independent
More informationLNG Poised to Significantly Increase its Share of Global Gas Market David Wood February 2004 Petroleum Review p.38-39
LNG Poised to Significantly Increase its Share of Global Gas Market David Wood February 2004 Petroleum Review p.38-39 For the past few years LNG has experienced high levels of activity and investment in
More informationReducing CO2 emissions for Offshore oil and gas Operations under ETS. Margaret Christie, Environmental Advisor, UK Business Unit, Premier Oil UK Ltd
Reducing CO2 emissions for Offshore oil and gas Operations under ETS Margaret Christie, Environmental Advisor, UK Business Unit, Premier Oil UK Ltd Reducing CO2 emissions for Offshore operations under
More informationContractual Allocation Of Risks / Insurance Requirement FPSO Projects Presentation Lillehammer Energy Claims Conference 2012
Contractual Allocation Of Risks / Insurance Requirement FPSO Projects Presentation Lillehammer Energy Claims Conference 2012 Homyar Jilla Head of Construction Risk Management Shell Risk & Insurance 28
More informationPETROLEUM RESOURCES L I M I T E D C O M P A N Y P R O F I L E
2 PETROLEUM RESOURCES C O M P A N Y P R O F I L E PETROLEUM RESOURCES PROFILE Deerfield Petroleum Resources Limited (DPRL), is a diversified company offering a comprehensive array of specialized services
More informationENERGY REFORM. Strengthen the stewardship of the State as the owner of the oil and gas, and as regulator of the oil industry.
I. The Objectives of the Reform. The bill being submitted by the Federal Executive for the consideration of the Congress of the Union, proposes that Constitutional Article 27 return to state what President
More informationThird LAC Tax Policy Forum
Third LAC Tax Policy Forum Cooperative Compliance - a business perspective Wilbert Huijbens; Tax Manager; Shell International BV Montevideo, Uruguay; DEFINITIONS AND CAUTIONARY NOTE Resources: Our use
More informationBRASS T&T BONNY. liquefaction under development ANGOLA LNG DARWIN. LNG Portovenere LNG Lerici LNG Methania LNG Stena Crystal Sky LNG Golar Maria
eni in LNG - Mozambique focus April 2013 2 worldwide experience eni is involved in several projects throughout the entire LNG value chain, from upstream to regasification, including liquefaction, shipping
More informationNOTE FOR MINING AND OIL & GAS COMPANIES - JU N E 2 0 0 9
NOTE FOR MINING AND OIL & GAS COMPANIES - JU N E 2 0 0 9 A G U I D E T O A I M U K TA X B E N E F I T S 2 AIM Note for Mining, Oil and Gas Companies Contents Introduction 1 Companies to which this Note
More informationInternational Petroleum Transactions
Petroleum Transactions Course content and description: This course considers the legal issues and transactions relating to the exploration and production of petroleum. Coverage includes petroleum fiscal
More informationIchthys Lng Securing the Future
Ichthys LNG Project Ichthys LNG onshore facilities plan Ichthys Lng Securing the Future Key Facts The Ichthys Field represents the largest discovery of hydrocarbon liquids in Australia in 40 years, estimated
More informationLao People s Democratic Republic Peace Independence Democracy Unity Prosperity
Authentic in Lao Only Lao People s Democratic Republic Peace Independence Democracy Unity Prosperity Ministry of Mines and Energy Ref. 0481/ME Vientiane Capital, date 20 April 2012 Decision on Selling
More informationCNOOC LIMITED 中 国 海 洋 石 油 有 限 公 司. 2014 Annual Results
CNOOC LIMITED 中 国 海 洋 石 油 有 限 公 司 2014 Annual Results March 27, 2015 Disclaimer This presentation includes forward-looking statements within the meaning of the United States Private Securities Litigation
More informationENERGY INC. Investment Project Analysis. Fisoye Delano
1 ENERGY INC. Investment Project Analysis Fisoye Delano 2 Background of Fisoye Delano Master, Petroleum Engineering. University of Houston Master, Business Administration. (MBA) University of Lagos Bachelor,
More informationFinancial Report 1 st half 2011
Financial Report 1 st half 2011 Contents 1. Financial Report - 1 st half 2011 1. Key figures...1 2. Group results...2 2.1. Operating income...............................2 2.2. Net income....................................2
More informationNatural Gas Hub Development and the Asian LNG Market
Natural Gas Hub Development and the Asian LNG Market Plenary Session 3, Structure of Asian Markets for Energy Commodities Bradford G. Leach Principal, Energy Advisory Services 5th IAEE Asian Conference
More informationDevelopments (2011-2013) in SEC staff views of E&P companies' oil and gas reserves disclosures
Developments (2011-2013) in SEC staff views of E&P companies' oil and gas reserves disclosures 2013 Ryder Scott Reserves Conference Houston, Texas Marc H. Folladori Partner 713 238 2696 mfolladori@mayerbrown.com
More informationAccounting for Administrative Overhead In oil and Gas Upstream Industry
Accounting for Administrative Overhead In oil and Gas Upstream Industry Hamdy Rashed, CMA; CAPM Bsc of Accounting and Auditing,, E-mail: hamdyrashed1@yahoo.com, Website: http://www.accountingsoul.com/
More informationDNO ASA Corporate Presentation and Update
DNO ASA Corporate Presentation and Update Haakon Sandborg, CFO Swedbank Nordic Energy Summit 19 March 2015 Oslo, Norway DNO at a glance Norwegian oil and gas operator focused on the Middle East and North
More informationOutlook & objectives. September 2014. 2014 Outlook & objectives total.com 1
2014 Outlook & objectives September 2014 2014 Outlook & objectives total.com 1 Market environment ZONE D IMAGE 2014 Outlook & objectives total.com 2 Evolving energy mix Energy mix Mboe/d 300 +21% 3% 5%
More informationConsultation paper. Domestic Gas Market Security of Supply
Consultation paper Domestic Gas Market Security of Supply September 2009 Introduction How to respond to this consultation paper The closing date for providing comment on this consultation paper is 15 October
More informationContents. 1. Key figures. 8. TOTAL and its shareholders. 2. Business overview. 9. General information. 3. Management Report
Registration Document 2014 Contents 1. Key figures 1. Operating and market data.....................1 2. Selected financial information...................2 2. Business overview 1. History and strategy
More informationRECOMMENDED COMBINATION WITH BG GROUP 8 APRIL 2015 ROYAL DUTCH SHELL PLC
RECOMMENDED COMBINATION WITH BG GROUP 8 APRIL 2015 ROYAL DUTCH SHELL PLC 1 DEFINITIONS & CAUTIONARY NOTE NOT FOR RELEASE, PRESENTATION, PUBLICATION OR DISTRIBUTION IN WHOLE OR IN PART IN, INTO OR FROM
More informationCompany Income Tax and Other Taxes
Company Income Tax and Other Taxes Company Taxation Arrangements The company tax rate (also known as the corporate) is 30%. The treatment of business expenditure for the mining and petroleum industries
More informationMANAGEMENT S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS
MANAGEMENT S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS You should read the following management s discussion in conjunction with our unaudited consolidated interim condensed
More information