...Introduction Oil and gas industry of Kazakhstan is the largest and most dynamic industry, which provides a stable increase in crude oil and natural gas. In the Kazakhstan sector of the Caspian Sea, there is continuing evaluation of public oil and gas fields with large reserves of hydrocarbons. Potential hydrocarbon of the Republic of Kazakhstan is estimated sufficiently significant in the total world reserves. Kazakhstan holds big hydrocarbon reserves, including potentially the second largest oil reserves in the world (US Energy Information Administration). According to official data from the Ministry of Oil and Gas of Republic of Kazakhstan, confirmed hydrocarbon reserves, both onshore and offshore, are estimated to be 4.8 billion tons or more than 35 billion barrels for 2012. Kazakhstan possesses unique geographical features that lead the country’s oil and gas cluster to be spread throughout the entire country, instead of one specific geographical area. Around 70% of Kazakhstan’s oil and gas reserves, both onshore and offshore, are concentrated in Western Kazakhstan around the city of Atyrau. Some oil reserves are also located in Southern Kazakhstan but the prospects for new discoveries there are not very promising (US-Kazakhstan Business Association). The majority of hydrocarbon reserves are located in the oil- and gas-rich regions of Kashagan, Tengiz and Karachaganak. The discovery of the Kashagan Field in 2000 is considered to be the largest oil field discovery...
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...Westminster International College Module Title: Research Skills Programme: BABS Semester: Three Academic Year Period: June 2012 –September 2012 Lecturer: Dr. Kui Juan Tiang Date Given and Available on the Student Portal: 6 July 2012 Date of Presentation: Week Beginning 6 August 2012 Date of Completion and Submission: 15 August 2012 Submission Method: Online via Turn It In with one hard copy to the Examinations Department Assessment Type: An individual presentation and type-written assignment Student: Aliaskar Batyrbek Student ID: NE/WICKL/UWIC/BABS/1011/0117 Assignment Topic: An investigation study of development of oil and gas industry in Kazakhstan Table of Contents 2 Introduction 4 2.1 Country Profile 4 2.2 History of industry 4 3 Research Objectives 5 4 Literature Review 6 4.1 Geographic Factor 6 4.1.1 Major Oilfields 8 4.1.2 Export Operating Pipelines 9 4.2 Government Policies 11 4.3 Financial Factor and R&D Factor 12 4.4 Market Prospects 14 4.4.1 Market players 14 4.4.2 Production 15 4.4.3 Consumption 16 5 Research Methodology 18 6 Time Scale / Gantt Chart 19 7 References 20 Figure 1 4 Figure 2 (KMG, 2012) 5 Figure 3 (BP, 2012) 5 Figure 4 (European Dialogue, 2012) 6 Figure 5 (BP, 2012) 6 Figure 6 (CIA, 2012) 8 Figure 7 (Centre for Global Energy Studies, 2012) 9 Figure 8 (Centre for Global Energy Studies, 2012) 9 Figure 9 (The Agency of Statistics of...
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...SETTLEMENT OF OIL AND GAS DISPUTES: DOMESTIC AND INTERNATIONAL PERSPECTIVES PAPER DELIVERED BY: OLABISI O. SOYEBO, SAN, MCIArb. AT THE MINISTRY OF JUSTICE MAITAMA, ABUJA 29th NOVEMEBER, 2011. SETTLEMENT OF OIL AND GAS DISPUTES: DOMESTIC AND INTERNATIONAL PERSPECTIVES BEING A PAPER DELIVERED BY OLABISI O. SOYEBO. SAN. MCIArb., AT THE MINISTRY OF JUSTICE MAITAMA ABUJA ON 29TH NOVEMEBER, 2011. INTRODUCTION Oil and gas are considered among the world's most important resources and the oil and gas industry plays a critical role in driving the global economy. They are used for numerous products, in addition to serving as the world's primary fuel source. The processes and systems involved in producing and distributing oil and gas are highly complex, capital-intensive and require state-of-the-art technology. Though efforts are being made to develop alternative sources of energy the world over, Oil and Gas will no doubt remain the largest fuel in the international energy market for some time and demand for the resources will continually create transactions and the attendant disputes. We all know that big business means big problems! The focus of this paper is to highlight the types of disputes which arise in the Oil and Gas industry, the type of Dispute Settlement/Resolution mechanisms available for resolving such disputes, issues of jurisdiction vis a vis private international law, consideration of the enabling instruments and laws and a practice guide to...
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...of them living in the capital city of Abuja which is located in the very center of Nigeria. (Nigeria) Nigeria has two distinct reputations. One as a corrupt and violent country that is not highly recommended for tourist type visitations (although it does have incredibly interesting historical sights) and the other for being the country visited mostly for unbelievably lucrative business transactions involving oil and gas. The Nigerian people live mostly in poverty in a country where oil and gas exports total billions in revenue. This is due to the fact that the Nigerian government has total control over their property rights. In addition corruption within that government runs rampant. According to an article by Michael Burleigh 70% of Nigerians live below poverty level struggling to survive. (Burleigh) What is even more interesting in a country rich in oil and gas is that the poverty stricken also have to deal with chronic fuel shortages due to the lack of refining in Nigeria. Nigeria Delta (referred to as Niger Delta) is the delta of the Niger River in Nigeria. This area is very significant to Nigeria. The area is a very populated region with more than 40 ethnic groups speaking over 250 different languages. The Niger Delta is an incredibly oil-rich region which...
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...(referred to as ExxonMobil) acquisition of XTO Energy, Inc (referred to as XTO). This transaction was announced in December 2009 and finalized in June 2010. The subsequent information will contain an introduction that focuses on the economic atmosphere of the energy industry at this time and details surrounding the agreement including motivations for the deal and terms of the deal. Next, calculations used in the valuation process will be introduced with results presented. Finally, a discussion of findings will conclude, supplying answers to the following questions: (1) What should the acquisition price for XTO shares have been? (2) Which comparable firm is the best comparison firm for XTO Energy? (3) Why did ExxonMobil want to acquire XTO? (4) Based on the analysis, did ExxonMobil overpay for XTO or get a Bargain? (5) What additional information could help with this analysis? INTRODUCTION Economic Considerations and Pertinent Features of the Energy Industry The timing of this acquisition corresponds with an economic downturn in the energy industry. This downturn is represented in Figure 1 which depicts the performance of the Dow Jones U.S. Oil & Gas Index (DJUSEN). ExxonMobil’s...
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...Chapter 21 Structured Financing Techniques in Oil and Gas Project Fina.nce Future-Flow Securitizations, Prepaids, Volumetric Production Payments, and Project Finance Collateralized Debt Obligations Christopher L. Culp and J. Paul Forrester* I. INTRODUCTION Project finance is the extension of credit to finance an economic unit where the future cash flows of that unit serve as collateral for the loan. By facilitating the separation of project assets from the sponsor and enabling the financing of those assets on the basis of the cash flows they are expected to generate, project finance can allow a sponsor to undertake a project with more risk than the sponsor is otherwise willing to underwrite independently. Project finance can also help sponsors avoid incurring leverage beyond tolerable levels, thereby helping them preserve their debt capacity, credit ratings, and cash flows for alternative capital investment activities. Large-scale oil and gas projects have been popular subjects for project financing since the inception of the market. Indeed, modem project finance is thought to have begun in the 1930s when a Dallas bank extended a nonrecourse loan to finance an oil and gas project. I Project finance "came of age" in the 1970s and 1980s with the Please address correspondence to christopher.culp@chicagobooth.edu or jforrester@ mayerbrown.com. The usual disclaimer applies, and the opinions expressed herein do not necessarily reflect those of any...
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...Executive Summary With the world demand for oil and gas is increasing and likely to increase further and as a developing country creating a best way to produce oil and gas to the unlimited demand. Petroliam Nasional Berhad(PETRONAS) has decided to analyse its business venture in three different countries all over the world. The countries are United States, China and Russia. Investing in international country may give out some financial risk. This paper is discussing the method Petronas can use to overcome all the financial risk in United States, China and Russia. A study on the derivative market of all the three countries is done to measure the risks and to know the ways to overcome the risks. Besides, this paper also discusses the taxation of every each country and how Petronas can minimize the tax burden. At the end of this paper, a conclusion is made (based on the criteria mention above) to which country to invest with different proportion. 1.0 Company Background and Risk Profile 1.1 Introduction to Oil and Gas industry in Malaysia Malaysia is one of the largest net exporters of oil and gases its region and the world. They have many gas and oil deposits on land and in the oceans surrounding the country. The country produces almost 2% of the world’s natural gas and nearly 13% of the world’s liquefied natural gas (LNG) and is ranked 25th in oil production in the world producing more than 750,000...
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...INTRODUCTION The goal of ultimate urbanisation and globalisation can only be met with the sufficient supply of energy in this currently developing world. However as the supplies of oil which is the major source for energy is decreasing and people are becoming more environmentally cautious, a new mean to supply energy are in high demand. Thus, nuclear energy seems to be the ideal alternative source of energy. Mel Schwartz (2011) mentioned that nuclear energy has generated approximately 17% of the world electricity for nearly 1 billion people (p. 706). In the Encyclopedia Britannica described that, “Nuclear energy, also called atomic energy, energy that is released in significant amounts in processes that affect atomic nuclei, the dense cores of atoms” (“Nuclear Energy”, 2013). The term nuclear energy includes nuclear fusion, nuclear fission and nuclear decay (radioactivity). Nuclear fission is the main method used in providing the nuclear energy as is provides the most energy compare to nuclear fusion and nuclear decay. In order to provide a large amount of energy, nuclear power plant is built. By using the heat energy gained from nuclear reaction, it drives the steam turbines which in turns generate the electricity. Nuclear power plant could be environment friendly as it emits low amount of carbon dioxide. The nuclear waste should not be overlook as it has a very long term impact to the environment. PHYSICS IN NUCLEAR ENERGY Nuclear energy can be formed either by...
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...Procurement in Oil and Gas Industry in Developing Countries A Case of AGIP Nigeria Name Course Professor Date Abstract This is a thesis about procurement process in the oil and gas industry in Nigeria with specific stress on AGIP Nigerian AGIP Energy and Natural Resource.” The report starts with an introduction to the country Nigeria itself. It develops with the research on the oil and gas sector in the country and then focuses on the AGIP and its operations. Thus the first section comprises the Introduction, the background of the problem the research objectives, literature review regarding the procurement process and the company AGIP. The second section is about the research methodology, the data analysis and presentation of results leading to limitations and recommendations and a conclusion. A qualitative research design has been used to do the research. These research methods have been used by every researcher in a way or other and quality data has been accumulated to help these researchers to prove their viewpoint either statistically (quantitative) or by subjective analysis of earlier researches or direct observations of the subjects (qualitatively). The data sources used for the literature review for this study are primarily the secondary sources particularly from books, journals, articles published in various scientific periodicals and / or newspapers along with the information gathered from the internet itself using its websites. The study manoeuvres at two levels:...
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...Character Count: Hours Dedicated: Federal Law - Federal Leasing In order for the Department of Interior (DOI) to decide which public lands will become available for oil and gas leasing the Bureau of Land Management (BLM), an agency within the DOI must conduct a Resource Management Plan (RMP) guide the BLM in deciding how to best use federal lands. An employee of the BLM known as the “Field Manager” is tasked with preparing the plan. The steps to create and finalize a RMP are: * Use input from the public, Federal agencies, State & local governments and Indian tribes to identify potential issues. * Develop the criteria for the plan, which the BLM will make public before it is approved for used in the planning process. * Collect data and information relevant to the plan goals. * Analyze data to provide the basis for formulating reasonable land use alternative, including the types of resources to be developed or protected. * Formulate and estimate the effects of reasonable resources management alternatives. * The Field Manager will then evaluate and identify a preferred alternative, which will then be submitted to the State Director for approval, publication and filing with the EPA. The draft will also be submitted for comment to various federal, state and local agencies and governments of the affected area as well as the Governor of the state involved. * The Field Manager then evaluates all comments and submits to the State Director a proposed...
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...OAO Gazprom Annual Report 2014 The Power of Growth OAO Gazprom Annual Report 2014 Note. This Annual Report has been formed on the basis of Resolution No. 1 of OAO Gazprom’s Management Committee On Organization of Work Related to Holding the Annual General Shareholders Meeting dated 29 January 2015. The terms «OAO Gazprom», «Company» used in the Annual Report refer to the parent company of Gazprom Group, i.e. to Open Joint Stock Company Gazprom. «Gazprom Group», «the Group» or «Gazprom» imply OAO Gazprom and its subsidiaries taken as a whole. For the purposes of the Annual Report, the lists of subsidiaries and affiliates were prepared on the basis used in the preparation of OAO Gazprom’s consolidated accounting (financial) statements in accordance with the requirements of the Russian legislation. Similarly, the «Gazprom neft Group» and «Gazprom neft» refer to OAO Gazprom neft and its subsidiaries, «Gazprom energoholding» refers to OOO Gazprom energoholding and its subsidiaries, Gazprom neftekhim Salavat refers to OAO Gazprom neftekhim Salavat and its subsidiaries. In this Report “companies investments to which are classified as joint operations” define OAO Tomskneft VNC and Salym Petroleum Development N.V. The Annual Report also contains information related to Gazprom Group’s business activities in the future, based on the forecast and estimates of Gazprom’s management derived from the current situation. Actual results may differ from the said forecast and estimates due to the effect...
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...Factors - Governments controlling world hydrocarbon reserves → significant impact - OPEC controlling 75.5% of world reserves → highly influential - Political risks: Instability, expropriation/nationalization of property, terrorism, civil conflicts, strikes, wars, etc. → adverse effect - Environmental treaties (Kyoto protocol) → negative impact Economic Factors - Interdependence between world economy and oil industry: economic growth → growing demand for oil; but also: continual supply of oil at reasonable prices → stable economy - Inelastic demand → positive effect - US dollar (and US economy) →significant impact - Exchange rates → impact on buyers and suppliers Socio-cultural Factors - Values and beliefs shape preferences for energies → energy mix changing towards greener energies - Need for companies to show social responsibility → supporting sustainable human development through investments in education, training, social and environmental activities Technological Factors - Extremely technology-driven: improved upstream technologies →better recovery of hydrocarbon, recovering oil from reserves considered exhausted → improved profitability (gains) - Breakthrough technology in ultradeep-water extraction →competitive advantage for Petrobras - Advanced technology → profound impact on long-term sustainability . Industry Competition Analysis (Porter’s five forces) In order to create a profitable competitive strategy, a firm must first examine the basic competitive structure of its...
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...Introduction Oil is an essential part of our everyday living. Historically, the oil and natural gas industry have accounted for approximately 10 percent to 25 percent of the state’s GSP, a trend that roughly tracks the price of oil. drilling rig bores a hole into the earth through which steel pipes are inserted. Pipes or casings like cement would then be put in between for strength as well as for separating different pressure zones- if they exist. The well is then drilled further, and more casings are added. At times, 2-3 layers of casings would be built depending on the geological composition of the zone. The rotator table then passes the drill string onto the hole. The drill string rotating by 'top drive' or 'power swivel' mechanism extends the drill bit. This extension is done with the help of the derrick (the structure holding the drill string). The drill bit then cuts the rock into pieces. Drilling fluid, also called mud-mixture of fluids, chemicals, abrasives and solids - is then pumped down the drill string. This fluid clears the cut rock bits onto the surface. Compressed air is substituted for the fluid, at times. In turbo-drilling, a turbine is placed in the drill string. Mud flows through this turbine causing the drill bit to rotate. This hydrocarbon-rich mixture of crude oil and gases runs our factories, our cars, heats some homes and has provided Americans with an unprecedented standard of living since its discovery in America in 1859. Petroleum is an extremely...
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...Impact of Nigeria's Bilateral Investment Agreements in Oil and Gas on the Right to Health and the Right to a Healthy Environment: A Case Study of the Niger Delta” Full Name of Student (Your student registration number) A XXXXXXXXXXX DISSERTATION SUBMITTED IN PARTIAL FULFILMENT FOR THE REQUIREMENT OF DEGREE OF XXXXXXXXX XXXXXXXXXXXXXXXXXXXXXXXXXXXXX UNIVERITY Declaration I hereby declare that research thesis is my original work and has never been used presented for any degree or diploma in any university or institution. Where material is obtained from published or unpublished works, this has been fully acknowledged by citation in the main text and inclusion in the list of references. Table of Contents Declaration 2 Table of Contents 3 CHAPTER ONE: INTRODUCTION 11 1.1 Background of the study 11 1.2 Statement of the Problem 27 1.2 Research Aims 29 1.3 Research Objectives 30 1.4 Research Questions 31 1.5 Justification of the Research 32 1.6 Research Methodology 42 1.6.2 Research design 45 1.6.2 Target population 45 1.6.3 Sampling 46 1.6.4 Data collection 46 1.6.5 Data presentation 46 1.7 Definition of terms 46 1.8.2 Environment 47 1.8.3 The right to health and the right to a healthy environment...
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...Analysis of Users of Natural Gas segment in India ChirayuTrivedi 20141014 Deep Tigga 20141015 Mayank Gupta 20141033 Pranjal Kishore 20141050 Faculty Mentor: Prof. Sudhir Yadav In partial fulfilment for the term project IN MASTER OF BUSINESS ADMINISTRATION OF SCHOOL OF PETROLEUM MANAGEMENT, PANDIT DEENDAYAL PETROLEUM UNIVERSITY ABSTRACT Adequate supply of affordable energy is a pre-requisite for sustained growth, especially in the developing and emerging economies. Natural gas has emerged as most benign fuel in this regard. Natural Gas is a new age fuel. With only one carbon and four hydrogen atoms per molecule, Natural Gas has the lowest carbon to hydrogen ratio, hence it burns completely, making it the cleanest of fossil fuels. Natural Gas satisfies most of the requirements for fuel in a modern day industrial society, being efficient, non-polluting and relatively economical. The periodic uncertainties and volatility in both the price and supply of oil, have also helped Natural Gas emerge as a major fuel in the energy basket across countries. Sector Natural Gas is used Generation of electricity by utilities Fertilizer Industry Industrial As fuel for base load power plants In combined cycle/cogeneration power plants As feed stock in the production of ammonia and urea As an under boiler fuel for raising steam As fuel in furnaces and heating applications For heating of spaces and water For cooking As a non-polluting...
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