Industry Archives: Oil and Gas

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Project Funding to Refurbish and Operate a LPG Terminal in Malaysia

The Company owns a LPG terminal in Malaysia refurbishment is required to operate. The terminal was previously owned by national oil company. The terminal has 3,000 MT capacity with two pressurized spheres. The Company plans to provide a LPG filling and bottling service for LPG players in Malaysia and sell LPG in conjunction with the filling service. LPG also will be exported to Thailand and other ASEAN countries. Discussion with major customers is ongoing.

The Company requires USD 15 million for the refurbishment and also for working capital requirements. The Terminal is currently equiped with two pressurized sphere tanks, piping, administration building, and loading/unloading bay. The terminal is located inside a port.

Anticipated IRR: 36.53%
NPV year 2024: USD 77,053,739

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Sakhalin Oil & Gas 2014, Yuzhno-Sakhalinsk, Russia, September 23-25

The Second Generation of Projects – new breakthroughs and commercial opportunities in Sakhalin & the Russian Far East
Innovative technologies for the new wave of projects on Sakhalin and in Russia’s Far East”, featuring presentations and the latest project updates from Baker Hughes, Gazprom VNIIGas, Shlumberger, Kvaerner, МРТС, Van Oord offshore B.V., GE Oil and Gas Turbomachinery, DSME, ABS, Layher, MAGE and many others.

  • STRATEGIC SESSION: Heads of federal ministries, the Government of Sakhalin Region and the largest operating companies will discuss the strategic aspects of developing the energy sector on Sakhalin and in Russia’s Far East.
  • STRATEGIC DISCUSSION: Leaders of Sakhalin’s oil & gas industry, legislators and experts will discuss what needs to be done to turn Sakhalin into an international energy centre.
  • PROJECT UPDATES FROM OPERATORS: This session will begin with special presentations by «Exxon neftegas Ltd» on construction of the topside on the ‘Berkut’ platform on the Sakhalin-1 project. There will also be presentations by Gazprom, Rosneft, Gazprom Dobycha Shelf Yuzhno-Sakhalinsk, RN-Sakhalinmorneftegas and Gazflot.
  • DISCUSSION ON CIS MARKETS: International professionals and experts will discuss prospects for developing CIS markets, and chances for Russia to become a leader on them. Participants will include: Shigeru Muraki, Vice Chairman of the Board, Tokyo Gas Company Ltd., Stefan Vos de Wael, General Manager, Portfolio, Strategy & Pricing, Shell, Keun-Wook Paik, Senior Research Fellow, Oxford Institute for Energy Studies, Michael Bradshaw, Professor of Global Energy, Warwick Business School
  • NEW! SPECIAL FOCUS SESSION: Sakhalin-2. Executives from Sakhalin Energy will talk about their 20 years of working on Sakhalin and their development plans
  • PROJECT UPDATES FROM CONTRACTORS: from FMC Technologies, MRTS, Fluor, Kvaerner, Shlumberger, Baker Hughes and more
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LUKoil Buys Into Cameroonian Offshore Project

Moscow Times June 24, 2014
Russia’s No. 2 oil producer LUKoil has bought a 37.5 percent share in the Etinde project off the coast of Cameroon from Edinburgh-based oil and gas explorer Bowleven, both companies said Tuesday in online statements. At the same time, New Age African Global Energy has bought a 12.5 percent stake from Bowleven, raising the group’s share to 37.5 percent.

The deals will see Bowleven’s share drop from 75 percent to 25 percent while earning $250 million from the sale. LUKoil and New Age will pay Bowleven a combined $170 million on completion of the deal, $40 million at the project’s final investment decision, which is expected in 2015, and will cover $40 million in costs for two appraisal wells, according to Bowleven.
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Oil & Gas Drilling Project in East Africa

The Company (US OTC) is a publicly traded Belize company which along with 2 affiliates has 49% interest in an area of 1,161,400 acres in Somalia with a prospective oil resource of 21 million barrels and 130 billion standard cubic feet of sales gas (Bscf) according to an independent NI 51-101 Evaluation of Prospective Resources performed by a reputable Canadian petroleum engineering firm. Conservative estimates are that the value for the Company’s share is approximately $187.5mn with an overall group net present value of $3.75 billion for the entire area.

The Company’s assigned role is to coordinate the early stage exploration leading up to the successful drilling of a test well. Upon the test well drilling, the Somali Federal Government will relinquish additional portions of its 51% interest in the block in favor of a conventional royalty.

The area was originally drilled by Somal Sinclair Oil in the 1960s and found to be extremely promising. The Company is seeking a total of $5mn in financing of which only $1.25mn is needed for the first stage of exploration which includes, security, seismic studies and the initial well.

The Company also owns majority rights of other mines in East Africa having Uranium, Platinum, gold, and diamond, which are beyond the scope of this transaction.

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Nigeria’s Seven Energy secures $255 mln from new backers

LONDON, April 15 (Reuters) – Nigeria’s Seven Energy said on Tuesday it had secured $255 million from new backers, including Singapore state investor Temasek, to help fund its plan to build up a gas business in the West African country. Seven Energy, an indigenous Nigerian company, plans to buy gas fields and related infrastructure and pipelines to sell gas into Nigeria’s domestic market for use in power generation and industrial consumption. It has already invested $1 billion in related projects in south-eastern Nigeria.

Temasek invested $150 million alongside contributions from the International Finance Corporation and the IFC African, Latin American and Caribbean Fund in Seven’s irredeemable convertible, coupon-less loan notes which the company says are akin to equity. Together, the new investors would hold 26 percent of the company’s equity.

“These investments are a vote of confidence in Nigeria and in Seven Energy’s vision to be the leading supplier of gas in the country,” Seven Energy Chief Executive Phillip Ihenacho said in a statement. The company, which is headquartered in Lagos and London, sees opportunities for provision of cheap gas in the local market as a past lack of investment means consumers tend to rely on much more expensive diesel and fuel oil.

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Pacific Rubiales to sell Colombia pipeline stake for $385 mln

Dec 23 (Reuters) – Pacific Rubiales Energy Corp, the largest private oil producer in Colombia, said it would sell its interest in the country’s largest oil pipeline to a group led by the private equity arm of Franklin Templeton for $385 million. Continue Reading →

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LUKoil in Talks to Sell Out of Venezuela Oil Project

Dec 6 (Reuters) – Russia’s No. 2 oil producer, Lukoil, has been in talks with international majors about selling its stake in a consortium developing a large oil project in Venezuela Continue Reading →

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Company Sale: Oil & Gas Equipment Manufacturer in Argentina

This Company, founded 35 years ago, manufactures oil and gas equipment for upstream operations (with API 6A, API 6D, API 16A and 11W Certifications). Continue Reading →

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IFC Finances Delonex Energy to Support Oil and Gas Exploration in East and Central Africa

Washington, DC – IFC Press Release Nov 21
IFC, a member of the World Bank Group, is providing Delonex Energy $60 million in equity finance to fund the company’s oil and gas exploration in East and Central Africa. The identification and development of local sources of energy has the potential to support more competitive downstream industries Continue Reading →

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Templeton’s Mobius says has sold TNK-BP Holding stake

MOSCOW, Nov 21 (Reuters) – Veteran emerging markets investor Mark Mobius said on Thursday he had sold his fund’s stake in Russia’s TNK-BP Holding, walking away from his attempt to get a better buyout deal from the firm’s new owner, Rosneft. Continue Reading →

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