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OES wins a $1.3 million project in Egypt
Holding a stake ensures RLO SURGXFWV ÀRZ
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Cementing Iranian-Iraqi ties
page 16
From Gazprom to the Krem-lin, business as usual page 17 Sports .................................page 10 Fierce competetion over Abu 4LU JDV ¿HOG...................... page 14 Statistics.............................page 20
LAST MONTH’S OIL PRICES
Horizontally drilling new potentials
By: Yomna Bassiouni
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Yomna Bassiouni Managing Editor
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Invensys partner with ENPPI and GASCO OES wins a $1.3 million project in Egypt
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Yemeni-Egyptian Petroleum Company to be established $ <HPHQL (J\SWLDQ SHWUROHXP FRPSDQ\ ZLOO EH DQ nounced in the near future, according to the Egyptian Am-EDVVDGRU WR <HPHQ 0RKDPPHG 0XUVL $ZDGK The Egyptian investments in Yemen have recently been LQFUHDVLQJ DQG $ZDGK GHFODUHG WKDW <HPHQ SURYLGHV DOO QHF essary facilitations for Egyptian investors. ,Q DGGLWLRQ $ZDGK PDGH LW FOHDU WKDW WKH QH[W PHHWLQJ RI WKH <HPHQL (J\SWLDQ 6XSUHPH &RPPLWWHH ZLOO VHHN VROX WLRQV WR WKH SUREOHPV RI (J\SWLDQ ÂżVKHUPHQ WKURXJK HVWDE OLVKLQJ MRLQW ÂżVK SURMHFWV Furthermore, a large medical exhibition of Egyptian PHGLFDO SURGXFWV ZLOO EH KHOG LQ <HPHQ GXULQJ WKH QH[W IHZ PRQWKV DV ZHOO DV VHYHUDO UHODWHG V\PSRVLXPV ZKLFK ZLOO WDNH SODFH ZLWK WKH SDUWLFLSDWLRQ RI WKH WZR FRXQWULHVÂś health ministers. (Yemen Observer)
,QYHQV\V 3URFHVV 6\VWHPV KDYH MRLQHG (133, and GASCO in a joint venture to create Invensys 3URFHVV 6\VWHP (J\SW WKH ÂżUVW ÂłLQGXVWULDO DXWRPD tion engineering center of excellenceâ&#x20AC;? in the coun-try, according to a press statement. 7KH QHZ FRPSDQ\ LV WR ÂłSOD\ D VLJQLÂżFDQW UROH in the modernization of the Egyptian petroleum in-GXVWU\ KHOS LQFUHDVH UHÂżQHU\ XWLOL]DWLRQ PD[LPL]H productivity and minimize maintenance costs,â&#x20AC;? added the statement. 7KH GHDO ZDV VHDOHG E\ WKH (J\SWLDQ 0LQLVWHU RI 3HWUROHXP (QJ 6DPHK )DKP\ DQG ,QYHQV\V 3OF
CEO Ulf Henriksson. 7KH SDUWQHUVKLS LV PHDQW WR IDFLOLWDWH D VLJQLÂż FDQW LQFUHDVH LQ WKH WHFKQLFDO NQRZOHGJH RI (J\S WLDQ HQJLQHHUV E\ VKDULQJ NQRZOHGJH ZLWK ORFDO SHRSOH ZRUNLQJ LQ WKH ÂżHOG DQG IUHVK JUDGXDWHV WR generate a deeper understanding of process control in the oil and gas sector. Âł, DWWDFK JUHDW LPSRUWDQWFH WR WKLV QHZ YHQWXUH 7KLV EHVW EXVLQHVV SUDFWLFH PRGHO HQDEOHV SURÂżWV WR EH VKDUHG ZLWK RXU FXVWRPHUV ZKLOH FUHDWLQJ JHQX ine partnership,â&#x20AC;? said Henriksson. Âł:H DUH LQWHQGLQJ WR EXLOG D ZRUOG FODVV PRG HUQ IDFLOLW\ ZKLFK ZLOO LQFOXGH D YHUVDWLOH VWDJLQJ DUHD ZRUNVKRS DQG ZDUHKRXVH FDSDEOH RI KDQGOLQJ WKH ODUJHVW DXWRPDWLRQ SURMHFWV 1DWXUDOO\ ZH KRSH WKDW RXU VLJQLÂżFDQW ORFDO SUHVHQFH ZLOO KHOS HQODUJH our installed base in the country and promote the JURZWK RI KLJK WHFKQRORJ\ GHPDQG ´ KH DGGHG 7KH FKDLUPDQ RI WKH FRPSDQ\ ZLOO EH 0RKDP HG 6DDG <DKLD WKH $VVLVWDQW &KDLUPDQ RI (133, ZKLOH ,QYHQV\V 3URFHVV 6\VWHPV ZLOO EH DSSRLQWLQJ D *HQHUDO 0DQDJHU VKRUWO\ 7KLV ÂżUVW MRLQW YHQWXUH LV OLNHO\ WR EH WKH ÂżUVW RI PDQ\ DV ,QYHQV\V 3URF HVV 6\VWHPV UROH RXW WKLV QHZ EXVLQHVV GHYHORSPHQW PRGHO LQWR HPHUJLQJ PDUNHWV ZRUOGZLGH Invensys is a global automation, controls and processes solutions group comprised of Wonder-ZDUH ,QYHQV\V 3URFHVV 6\VWHPV (XURWKHUP ,Q vensys Rail Group and Controls. 7KH JURXS LV KHDGTXDUWHUHG LQ /RQGRQ DQG LV OLVWHG RQ WKH /RQGRQ 6WRFN ([FKDQJH ZLWK DERXW HPSOR\HHV ZRUNLQJ LQ FRXQWULHV (Invensys PLC Press Release)
Oil Search spuds Shahd 3RUW 0RUHVE\ EDVHG 2LO 6HDUFK DQG LWV SDUWQHU 6LSHWURO ,QWHUQDWLRQDO KDYH VSXGGHG WKH 6KDKG 6( ZHOO LQ (J\SW QHDU WKH SURGXFLQJ 6KDKG RLOÂżHOG LQ WKH (DVW 5DV 4DWWDUD concession. 7KH ZHOO LV WDUJHWLQJ WKH %DKDUL\D DQG .KDULWD IRUPDWLRQV ZKLFK DUH SURGXFWLYH UHV HUYRLUV HOVHZKHUH LQ WKH (DVW 5DV 4DWWDUD OLFHQFH 7KH ZHOO ZKLFK KDV D SODQQHG GHSWK RI PHWHUV ZDV VXQN WR PHWHUV IRUPHU time, the company stated. (QDS VXEVLGLDU\ 6LSHWURO WKH ZHOOÂśV RSHUDWRU ZLWK D VWDNH DQG 2LO 6HDUFK VSXGGHG WKH ZHOO WZR ZHHNV HDUOLHU (Upstream Online)
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Egypt to Export natural gas to Syria (J\SW ZLOO EHJLQ H[ porting natural gas to Syria this month after the third phase of the gi-DQW SLSHOLQH SURMHFW ZDV completed, Syrian Oil 0LQLVWHU 6XÂżDQ $OODZ announced. $OODZ PDGH KLV FRP ments during a meeting of energy ministers from Syria, Jordan, Egypt, /HEDQRQ DQG 7XUNH\ LQ Damascus dedicated to discuss the progress in WKH $UDE *DV 3LSHOLQH 3URMHFW 7KH SURMHFW ZDV VLJQHG LQ WR VXSSO\ (J\SWÂśV QDWXUDO JDV WR -RUGDQ 6\ULD DQG /HEDQRQ IRU \HDUV 7KH ÂżUVW SKDVH WKDW OLQNV (J\SW ZLWK WKH -RUGDQLDQ 5HG 6HD SRUW RI $TDED ZDV ÂżQLVKHG LQ ZKLOH WKH VHFRQG VWDJH OLQNLQJ $TDED ZLWK WKH WRZQ RI 5LKDE 1RUWK RI WKH -RUGDQLDQ FDSLWDO RI $PPDQ ZDV FRPSOHWHG WZR \HDUV ODWHU 7KH SURMHFWÂśV FRVW PRUH WKDQ ELOOLRQ DQG LW ZLOO HYHQWXDOO\ UXQ IURP (O $ULVK WKURXJK -RUGDQ DQG 6\ULD WR WKH 7XUNLVK ERUGHU ZLWK D WRWDO OHQJWK of 1,200 km. $OODZ VWDWHG WKDW LW KDV EHHQ DJUHHG WKDW E\ March 21, 900 million cubic meters of Egyp--
WLDQ JDV ZLOO EH SXPSHG GDLO\ WR 6\ULDÂśV 'HLU $OL SRZHU VWDWLRQ LQ 6\ULD LQ WKH ÂżUVW \HDU +H DGGHG WKDW LW ZRXOG HYHQWXDOO\ LQFUHDVH WR ELOOLRQ FX bic meters. /HEDQRQÂśV DFWLQJ 3RZHU DQG +\GUDXOLF 5H sources Minister Mohamed Al-Safadi said that D SLSHOLQH EHWZHHQ 6\ULD DQG /HEDQRQ ZRXOG EH UHDG\ E\ PLG 6\ULDÂśV RLO SURGXFWLRQ KDV GHFOLQHG IURP 600,000 barrels per day in 2000 to some 360,000 in 2006, and Damascus is trying to compensate by relying more heavily on natural gas. (AP & Daily News Egypt)
ExxonMobil Egypt to launch textile industry lubricants ([[RQ0RELO (J\SW LV VHW WR ODXQFK WZR QHZ OXEULFDQWV VSHFLÂżFDOO\ GHVLJQHG IRU WKH WH[WLOH LQ dustries, announced the company in a statement. 8QGHU 0RELO EUDQG WKH WZR QHZ SURGXFWV .QLW WLQJ 2LO 7 DQG &RQQLWH[ ( ZHUH FUHDWHG WR PHHW the needs of ExxonMobil Egypt customers aiming to protect and protract the productivity of their tex-WLOH PDFKLQHU\ 7KH QHZ OXEULFDQWV DUH GHVLJQHG WR VHFXUH WKH TXDOLW\ RI WKH ÂżQLVKHG SURGXFWV 7KH QHZ OLQH RI SURGXFWV PHHWV WKH ODWHVW JOR bal industry standards of quality and performance, the company statement emphasized. â&#x20AC;&#x153;The manufacturing side of the textile indus-try are dependant on reliable and high quality lu-EULFDQWV ([[RQ0RELO (J\SW LV ODXQFKLQJ WKLV OLQH of products to ensure that need is met in an in-GXVWU\ ZKLFK LV QRW RQO\ DFWLYH EXW SURPLVHV FRQ WLQXHG JURZWK IRU (J\SWÂśV HFRQRP\ ´ VDLG $\PDQ El Sabaa, Industrial and Marine Sales Manager of ExxonMobil Egypt. 7KH SURGXFWV ZHUH ODXQFKHG DW WKH WK ,7&( International African-Arabian Exhibition for 7H[WLOH (PEURLGHU\ DQG 6HZLQJ 0DFKLQHU\ $FFHVVRULHV ZKLFK WRRN SODFH LQ &DLUR )HE through March 2. Knitting Oil T22, a clear lubricant for knitting DQG VHZLQJ PDFKLQHV KDV D WUDQVSDUHQW FRORU ZKLFK UHGXFHV WKH ULVN RI IDEULF VWDLQLQJ ,W LV DOVR
ZDWHU VROXEOH PDNLQJ LW ZDVKDEOH DQG DEOH WR PDLQWDLQ WKH TXDOLW\ RI ÂżQLVKHG SURGXFWV 7KH OXEULFDQWÂśV KLJK DQWL ZHDU DQG DQWL UXVW SURSHUWLHV NHHS WKH ZHDU RI PRYLQJ SDUWV LQFOXG ing needles and cams at a minimum, the company explained. In addition to its balanced formula, the lubricant has proved high stability under high temperatures, and also prevents the formation of excess varnish. 0HDQZKLOH &RQQLWH[ ( LV D FRQQLQJ WZLVWLQJ and texture oil for synthetic yarns, and is applied to textured yarns by means of dipping rollers, VKDIWV DQG ZLFN OXEULFDWLRQ Âł&RQQLWH[ ( RIIHUV anti-static and anti-splash properties, high resist-DQFH WR R[LGDWLRQ GXH WR OLJKW RU KHDW DQG ORZ ÂżEHU WR ÂżEHU ÂżEHU WR PHWDO IULFWLRQ ´ UHDG WKH statement. ([[RQ0RELO (J\SW ZDV SUHVHQW DW WKH ,7&( 11th IDLU ZLWK D ERRWK ZLWKLQ WKH NQLWWLQJ LQGXVWU\ VHFWLRQ RI WKH H[KLELWLRQ ZKLFK IHDWXUHG DURXQG RWKHU H[KLELWRUV The exhibition also featured other industrial high performance products for applications in textile industries such as gears, greases, com-pressors and synthetic lubricants, providing â&#x20AC;&#x153;The Complete Textile Offer,â&#x20AC;? the theme of ExxonMo-bil Egypt in the exhibition. (Daily News Egypt)
First Gas from West Delta Deep Marine Phase IV
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Groundstar commences drilling of Malak #1 Groundstar Resources provided operational update for its West Esh El Mallaha (WEEM) %ORFN QRQ RSHUDWHG ZRUNLQJ LQWHUHVW VTXDUH NLORPHWHUV LQ (J\SW 5LJJLQJ XS RI D QHZ K S GULOOLQJ ULJ ZDV FRPSOHWHG DQG GULOOLQJ FRPPHQFHG RQ WKH 0DODN ZHOO RQ )HEUXDU\ 7KH 0DODN ZHOO ZLOO EH GULOOHG WR D WRWDO GHSWK RI IHHW RYHU D SHULRG RI DS SUR[LPDWHO\ GD\V DQG LV WKH ÂżUVW H[SORUDWLRQ ZHOO RI D WZR ZHOO EDFN WR EDFN GULOOLQJ SURJUDP (DFK ZHOO ZLOO EH WHVWHG RYHU DQ DSSUR[LPDWH WZR ZHHN SHULRG 'HSHQGLQJ RQ ZHOO UHVXOWV DGGLWLRQDO ZHOOV could be drilled immediately after completion DQG WHVWLQJ RI WKH ÂżUVW WZR ZHOOV 7KH RSHUDWRUV of the block, Aminex Egypt and Groundstar Re-VRXUFHV /LPLWHG KDYH FRQWUDFWHG WKH GULOOLQJ ULJ IRU PRQWKV RQ D FDOO RXW EDVLV WR GULOO RQ WKH WEEM and WKO blocks. (Oil Egypt)
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New Indian and Canadian players in the oil and gold arenas Serving the Egyptian Minis-WU\ RI 3HWUROHXPÂśV VWUDWHJ\ WR OXUH more investments, Eng. Sameh )DKP\ 0LQLVWHU RI 3HWUROHXP signed four agreements for oil DQG JROG H[SORUDWLRQ ZLWK &DQD dian and Indian companies. 7KH ÂżUVW WZR DJUHHPHQWV ZHUH LQNHG IRU WKH (J\SWLDQ Mineral Resources Authority (05$ LQ DVVRFLDWLRQ ZLWK WKH &DQDGLDQ $OH[DQGHU 1XELD &RP pany for the exploration of gold and associated minerals in the (DVWHUQ 'HVHUW ZLWK PLQLPXP LQYHVWPHQWV VSHQGLQJ RI DERXW PLOOLRQ 7KH RWKHU WZR SHWUROHXP DJUHHPHQWV WDUJHW RLO DQG JDV H[SORUDWLRQ IRU (*$6 DQG *DQ RSH LQ WKH 0HGLWHUUDQHDQ DQG :HVWHUQ 'HVHUW UHJLRQV ZLWK D VWDWH RZQHG ,QGLDQ &RPSDQ\ ZRUNLQJ LQ (J\SW IRU WKH ÂżUVW WLPH $VNHG DERXW WKH LQFUHDVLQJ RLO SULFHV DQG LWV LPSDFWV )DKP\ VDLG WKDW WKH ZRUOG RLO PDUNHW VWDWXV LV YHU\ XQFHUWDLQ DQG WKHUH LV QR FRQWURO ZKDWVRHYHU RQ SULFHV LQ OLJKW RI WKH JURZLQJ ZRUOG GHPDQG RQ RLO DQG WKH LQVXIÂżFLHQW ZRUOG VXSSO\ VWUHVVLQJ RQ WKH LPSRUWDQFH RI FRQVXPSWLRQ UDWLRQDOL]DWLRQ DV WKH 3HWUROHXP 6HFWRU ZDV DEOH WR PHHW WKH UHTXLUHPHQWV RI natural gas and oil products subsidy. 'XULQJ WKH ÂżUVW KDOI RI WKH \HDU WKH WRWDO VXEVLG\ ELOO ZKLFK WKH 3HWUROHXP 6HFWRU KDV VKRXOGHUHG IURP LWV RZQ UHVRXUFHV UHDFKHG / ( ELOOLRQ LQ DGGLWLRQ WR / ( billion, accounting for the subsidy value, only during January, highlighted Fahmy. The minister added that the value of providing local market needs of petroleum products DQG QDWXUDO JDV GXULQJ WKH FXUUHQW ÂżVFDO \HDU LV H[SHFWHG WR UHDFK ELOOLRQ EDVHG RQ WKH LQWHUQDWLRQDO SULFHV DVVXULQJ WKDW WKH 3HWUROHXP 6HFWRUÂśV VXFFHVV LQ LQFUHDVLQJ SURGXFWLRQ OHYHOV RI FUXGH RLO DQG QDWXUDO JDV FRQWULEXWHG GLUHFWO\ WR WKH 6HFWRUÂśV DELOLW\ LQ SURYLGLQJ subsidy requirements. $QVZHULQJ D TXHVWLRQ DERXW DWWUDFWLQJ DQ ,QGLDQ 6WDWH RZQHG FRPSDQ\ WR H[SORUH IRU RLO LQ 6RXWK (J\SW ZLWK KXJH LQYHVWPHQWV RI PLOOLRQ WKH ,QGLDQ $PEDVVDGRU LQ &DLUR $ Gupinathan, declared that the South Valley area is still a virgin one that has very promising RLO SRWHQWLDOV HVSHFLDOO\ DIWHU UHDOL]LQJ WKH ÂżUVW RLO GLVFRYHU\ LQ .RPRPER ZKLFK HQFRXUDJHG the Indian company to invest in such area. Fahmy pointed out that, according to a report from Al-Sukari for Gold Mines Company, WKH FXUUHQW JROG SURGXFWLRQ IURP $O 6XNDUL PLQH KDV LQFUHDVHG WR PLOOLRQ RXQFH ZRUWK ELOOLRQ EDVHG RQ WKH LQWHUQDWLRQDO SULFHV 7KLV UHĂ&#x20AC;HFWV WKH SRWHQWLDOV RI WKH JROG GULYH OHG by the Ministry. (MoP)
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Dana Gas signs a 25-year agreement for Sharjah Western Concession
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Horizontally drilling new potentials
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7KH 3URV DQG &RQV WR GUDLQ WKH UHVHUYRLU $OVR WKH\ DOORZ RSHUDWRUV WR take advantage of highly heterogeneous or layered UHVHUYRLUV UHVHUYRLUV ZLWK IUDFWXUHV RU ZDWHU RU JDV coning problems. )RFXVLQJ ¿UVW RQ LWV REMHFWLYHV WKH KRUL]RQWDO GULOO LQJ DLPV DW VLJQL¿FDQWO\ H[SRVLQJ PRUH UHVHUYRLU URFN WR WKH ZHOO ERUH VXUIDFH WKDQ FDQ EH DFKLHYHG YLD GULOO LQJ RI D FRQYHQWLRQDO YHUWLFDO ZHOO $V IRU LWV WHFKQLFDO objectives, they include the need to intersect multiple IUDFWXUH V\VWHPV ZLWKLQ D UHVHUYRLU DQG WKH QHHG WR DYRLG XQQHFHVVDULO\ SUHPDWXUH ZDWHU RU JDV LQWUXVLRQ WKDW ZRXOG LQWHUIHUH ZLWK RLO SURGXFWLRQ (FRQRPL cally, they increase productivity and contribute to the SURORQJDWLRQ RI WKH UHVHUYRLU¶V FRPPHUFLDO OLIH 8QOLNH D GLUHFWLRQDO ZHOO WKDW LV GULOOHG WR SRVLWLRQ D UHVHUYRLU HQWU\ SRLQW D KRUL]RQWDO ZHOO LV FRPPRQ O\ GH¿QHG DV DQ\ ZHOO LQ ZKLFK WKH ORZHU SDUW RI WKH
ZHOO GRHV QRW KDYH WR UHDFK Â&#x192; IRU WKH ZHOO WR EH FRQVLGHUHG D KRUL]RQWDO ZHOO $SSOLFDWLRQV IRU KRUL ]RQWDO ZHOOV LQFOXGH WKH H[SORLWDWLRQ RI WKLQ RLO ULP UHVHUYRLUV DYRLGDQFH RI GUDZGRZQ UHODWHG SUREOHPV VXFK DV ZDWHU JDV FRQLQJ DQG H[WHQVLRQ RI ZHOOV E\ means of multiple drain holes, further added Orabi. +RUL]RQWDO ZHOOV DUH FKDUDFWHUL]HG E\ EHLQJ D controlled, directional completion technique for ex-ploiting unrecovered mobile hydrocarbons in exist-ing fields. These reserves usually remain since the UHVHUYRLU¶V KHWHURJHQHLW\ KDV SUHYHQWHG HIILFLHQW GHYHORSPHQW XVLQJ YHUWLFDO ZHOOV 7KH SULPDU\ screening tool is recovery efficiency as measured by the percentage recovered of original oil in-place 22,3 RU RULJLQDO JDV LQ SODFH 2*,3 6FUHHQLQJ is carried out by reservoir characterization, fol-ORZHG E\ UHVHUYRLU VLPXODWLRQ
Eng. Ahmed Hassan, Chief Reservoir Engineer, 3LFR ,QWHUQDWLRQDO 3HWUROHXP KLJKOLJKWHG WKH YDULRXV SULYLOHJHV RI GULOOLQJ KRUL]RQWDOO\ DPRQJ ZKLFK WKH higher productivities. Relative to unstimulated verti-FDO ZHOOV WKH KRUL]RQWDO ZHOOV JHQHUDOO\ KDYH KLJKHU productivities. Rule of thumb, the productivity im-SURYHPHQW E\ KRUL]RQWDO ZHOOV RYHU YHUWLFDO ZHOOV LQ WKH VDPH UHVHUYRLUV LV LQ WKH UDQJH RI ZLWK PHDQ YDOXH RI 0RUHRYHU WKH KRUL]RQWDO ZHOOV KDYH ZLGHU GUDLQDJH DUHDV DQG FRQVHTXHQWO\ KLJKHU UHFRYHU\ IDFWRUV +DVVDQ DGGHG WKDW KRUL]RQWDO ZHOOV DUH WR RXWSHUIRUP K\GUDXOLF IUDFWXUHG ZHOOV LQ FHU WDLQ FRQGLWLRQV ZKLFK DUH WKH IROORZLQJ - The reservoir section is thin - The reservoir has high vertical permeability - The completed lateral length is much greater than the effective fracture half length
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7KH K\GUDXOLF IUDFWXUH KDV ORZ FRQGXFWLYLW\ $V D PDWWHU RI IDFW WKH KRUL]RQWDO ZHOOV KDYH EHHQ considered by many experts as a preferred method of UHFRYHULQJ RLO DQG JDV IURP UHVHUYRLUV LQ ZKLFK WKHVH Ă&#x20AC;XLGV RFFXS\ VWUDWD WKDW DUH KRUL]RQWDO RU QHDUO\ VR VLQFH WKH\ RIIHU JUHDWHU FRQWDFW DUHD ZLWK WKH SURGXF WLYH OD\HU WKDQ YHUWLFDO ZHOOV (FRQRPLFDOO\ WKH FRVW IDFWRU IRU D KRUL]RQWDO ZHOO PD\ EH DV PXFK DV WZR RU WKUHH WLPHV WKDW RI D YHUWL FDO ZHOO \HW WKH SURGXFWLRQ IDFWRU FDQ EH HQKDQFHG DV PXFK DV RU WLPHV PDNLQJ LW YHU\ DWWUDFWLYH According to studies conducted by the U.S De-partment of Energy, this type of drilling can result in DQ LQFUHDVH LQ UHVHUYHV LQ SODFH E\ QHDUO\ RI WKH original oil in place. The production ratio for hori-]RQWDO ZHOOV YHUVXV YHUWLFDO ZHOOV LV WR ZKLOH WKH FRVW UDWLR RI KRUL]RQWDO YHUVXV YHUWLFDO ZHOOV LV RQO\ WR 7KHVH ÂżQGLQJV UHĂ&#x20AC;HFW WKH HIIHFWLYHQHVV of horizontal drilling. /LVWLQJ WKH SULYLOHJHV VKRXOG QRW LJQRUH WKH RE stacles facing this technique. The horizontal drilling LV DVVRFLDWHG ZLWK KLJKHU GULOOLQJ FRVWV DQG JUHDWHU mechanical risks. For instance, the economic suc-FHVV UDWH LQ WKH 86 LV DERXW ZLWK IDLOXUH XVX DOO\ RFFXUULQJ DV D UHVXOW RI KLJK GULOOLQJ FRPSOHWLRQ costs, formation damage, reservoir heterogeneity, or LQVXIÂżFLHQW JHRORJLFDO FKDUDFWHUL]DWLRQ Hassan stated liquid unloading problems along WKH ODWHUDO VHFWLRQ ZDWHU EORFNDJH LQ WKH KHHO RI WKH ZHOO DQG XQHYHQ SURGXFWLRQ GLVWULEXWLRQ DORQJ WKH lateral section represent the major disadvantages of the horizontal drilling.
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$ GULOOLQJ SURFHVV FDQ WDNH IHZ PRQWKV ZKLOH to set its program, it may require more than a year. Thus, despite the time it takes, a horizontal drilling SURJUDP VKRXOG ÂżUVW WDNH LQWR FRQVLGHUDWLRQ WKH IRO ORZLQJ IDFWRUV DV +DVVDQ PHQWLRQHG WR HQVXUH D VXFFHVVIXO GULOOLQJ LPSOHPHQWDWLRQ ZKLFK DUH â&#x20AC;˘ Accurate depth conversion of 3D seismic data XVLQJ ZHOO FRQWURO Â&#x2021; ,GHQWLÂżFDWLRQ DQG FRUUHODWLRQ RI PDMRU JHRORJLF PDUNHUV WKURXJKRXW WKH ÂżHOG Â&#x2021; .QRZOHGJH RI H[SHFWHG QHW SD\ DQG LWV DUHDO distribution from an updated depositional facies model Â&#x2021; 5HDO WLPH DGMXVWPHQWV RI ZHOO SDWKV XVLQJ /:' resistivity and G.R measurements compared to the geological model
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Fortunately, Egypt has reserved its place as one of the countries implementing this advanced technique. &XUUHQWO\ WKHUH DUH DSSUR[LPDWHO\ KRUL]RQWDO ZHOOV all are 90-degree direction in addition to more than 90H[WHQGHG UHDFK ZHOOV OHVV WKDQ GHJUHH GLUHFWLRQ 0RVW RI WKHVH ZHOOV DUH PDLQO\ GULOOHG LQ WKH DUHDV RI *XOI RI 6XH] DQG (DVWHUQ 'HVHUW ZKLOH WZR RU WKUHH OLH in the Western Desert, highlighted Orabi. Despite the attempts to increase the implementa-tion of horizontal drilling in Egypt, there are some ob-VWDFOHV KLQGHULQJ LWV H[SDQVLRQ DPRQJ ZKLFK DUH KLJK costs, lack of Experience in such technique and opera-tion problems, stated Orabi.
Holding a stake ensures oil products flow
By: Ashraf Said
:LWK WKH XQSUHFHGHQWHG LQFUHDVLQJ UDWHV RI RLO SULFHV ZRUOGZLGH ULVNV RI VXSSO\ LQJ WKH UHTXLUHG DPRXQWV RI RLO SURGXFWV KDYH EHFDPH D SRLQW RI FRQFHUQ WR FRQ VLGHU DQG LQYHVWLJDWH 6XFK ZRUULHV UH Ă&#x20AC;HFW WKH UHDVRQ ZK\ WKH (J\SWLDQ JRY HUQPHQW UHSUHVHQWHG LQ WKH (J\SWLDQ *HQHUDO 3HWUROHXP &RRSHUDWLRQ (*3& PDLQWDLQV D VWDNH LQ DQ\ QHZ RLO UHÂżQHU\ FRQVWUXFWHG LQ (J\SW Due to the attractive offers and incentives set by the Egyptian government to encourage the construction of oil UHÂżQHULHV PDQ\ FRPSDQLHV KDYH H[SUHVVHG WKHLU LQWHUHVWV WR LQYHVW WKHLU PRQH\ LQ WKH UHÂżQLQJ VHFWRU 7KUHH PDMRU FRP SDQLHV DVNHG WR FRQVWUXFW RLO UHÂżQHULHV LQ WKH FRXQWU\ ZKLFK DUH WKH .XZDLWL Âł.KDUDÂż JURXS´ WKH (J\SWLDQ Âł&LWDGHO´ and â&#x20AC;&#x153;Dana Gasâ&#x20AC;?. 7KH 0LQLVWU\ RI 3HWUROHXP LV H[SHFWHG WR JLYH LWV DS SURYDO IRU WKHVH UHTXHVWV ZLWKLQ WKH FRPLQJ PRQWK VDLG DQ RIÂżFLDO LQ WKH PLQLVWU\ +H DGGHG WKDW WKH WKUHH SURMHFWV IXO ÂżOOHG DOO WKH WHFKQLFDO DQG ÂżQDQFLDO WHUPV RI WKH SURMHFW 7KH .KDUDÂż JURXS SODQV WR LQYHVW ELOOLRQ LQ FRQVWUXFW LQJ D UHÂżQHU\ ZLWK D FDSDFLW\ RI WKRXVDQG EDUUHOV RI heavy oil daily. The project is to be located near the Sokhna port and its construction phase is scheduled to terminate in WZR \HDUV 7KH SURMHFW ZLOO SURGXFH GLHVHO JDV DQG KHDY\ RLO DQG ZLOO WDUJHW WKH GRPHVWLF PDUNHWV ZKLFK ZLOO VDYH the country the costs of importing nearly a million ton of diesel yearly. As for the Citadel group, it succeeded in forming a con-VRUWLXP RI (J\SWLDQ DQG *XOI ÂżQDQFLDO LQVWLWXWLRQV WR LQYHVW QHDUO\ ELOOLRQ LQ DQ RLO UHÂżQHU\ WR EH ORFDWHG LQ 6XH] ,W LV ZRUWK PHQWLRQLQJ WKDW &LWDGHO LV JHWWLQJ UHDG\ WR ODXQFK WKH ÂżUVW HQHUJ\ IXQG LQ WKH 0LGGOH (DVW By its turn, Dana Gas asked for a license to construct an RLO UHÂżQHU\ ZLWK RQH RI WKH SULYDWH (J\SWLDQ RLO FRPSDQLHV DQG ÂżQDQFHG E\ DQ (PLUDWL EDQN $V D PDWWHU RI IDFW (*3& LV WR KROG D VWDNH LQ HDFK RI WKHVH SURMHFWV E\ DQ DYHUDJH RI 7KH UHDVRQ EHKLQG WKLV WUHQG LV WR HQVXUH WKH Ă&#x20AC;RZ RI UHTXLUHG VXSSOLHV RI GLIIHUHQW RLO SURGXFWV WKURXJK LWV VWDNH LQ UHÂżQHULHV Âł7KH $UDELF SULYDWH VHFWRU LV GHÂżQLWHO\ FDSDEOH RI XQGHU WDNLQJ UHÂżQHU\ SURMHFWV DFFRUGLQJ WR WKH (*3& VWDQGDUGV ´ VDLG 3URI +DVVDQ $EGXOODK D 3HWUROHXP ([SHUW 7KH 0LQ LVWU\ RI 3HWUROHXP VHW VRPH VWDQGDUGV WR FRQWURO WKH UHÂżQLQJ VHFWRUÂśV LQYHVWPHQWV DPRQJ WKHVH FRQGLWLRQV LV WKH XVH RI WKH ÂżIWK JHQHUDWLRQ RI WKH SHWUROHXP UHÂżQHU\ WKDW VDWLVÂżHV environmental conditions and at the same time provides the PRVW HIÂżFLHQW SURGXFWLRQ 3URI $EGXOODK DGGHG WKDW VXFK WHFKQRORJ\ LV YHU\ H[SHQ VLYH DQG WKH FXUUHQW UHÂżQHULHV QHHG VRPH KLJK FRVW XSJUDGHV 7KDW LV ZK\ WKH JRYHUQPHQW GHFLGHG WR LQYLWH WKH SULYDWH VHF tor to invest in these projects. He also pointed out that the government tries to take advantage from the current lack of RLO UHÂżQHULHV ZRUOGZLGH 7KXV LW GHFLGHG WR LQFUHDVH WKH SUR GXFWLRQ FDSDELOLWLHV RI LWV UHÂżQHULHV LQ RUGHU WR VXSSO\ WKH PD MRU RLO FRQVXPHUV VXFK DV 86$ DQG (XURSH ZLWK RLO 3DUW RI WKH JRYHUQPHQWÂśV SODQ LV WR FRQVWUXFW WKH UHÂżQHU ies in areas that enjoy a high competitive advantage such as Upper Egypt. 7KH (*3& LV KRSLQJ WR DYRLG VKRUWDJH SUREOHPV WKH market has suffered lately. Therefore, one of its main condi-WLRQV ZKHQ DSSURYLQJ RQH RI WKH UHÂżQHULHV LV WR WDNH D VWDNH of its production. The market has suffered from a shortage about a year ago ZKHQ 0,'25 UHÂżQHU\ ZHQW RXW RI VHUYLFH 7KH DXWKRULW\ KDG to import high quantities of gasoline at a very high cost, in DGGLWLRQ WR WKH ORVV RI WKH UHÂżQHU\ÂśV H[SRUWDWLRQ SURÂżWV 0DUDZDQ (O $UDEL WKH GHOHJDWHG PHPEHU RI &LWDGHO Âż QDQFLDO JURXS ZHOFRPHG WKH LQYLWDWLRQ RI WKH JRYHUQPHQW to the private sector to invest in this strategic sector, add--
LQJ WKDW LQFUHDVLQJ WKH QXPEHU RI UHÂżQHULHV LQ (J\SW ZLOO not have negative effects on the market, on the contrary it ZLOO WULJJHU SURÂżWDELOLW\ FKDQFHV VLQFH WKH PDUNHW LV VWLOO LQ QHHG RI PRUH UHÂżQHULHV WR VDWLVI\ WKH JDS EHWZHHQ VXSSO\ and demand. Hisham El Khazendar, the delegated member of Cita-GHO ,QYHVWPHQWV VDLG WKDW WKH FRPSDQ\ÂśV GHFLVLRQ WR HQWHU WKH UHÂżQHU\ LQGXVWU\ LV D VWHS LQ LWV VWUDWHJ\ WR LQYDGH VRPH risky sectors such as transformational industries and marine transportation. El Khazendar asked the government to add VWDWH RZQHG UHÂżQHULHV WR LWV SULYDWL]DWLRQ SODQV DV RQH RI the high barriers for entering the industry is the high costs RI FRQVWUXFWLQJ D QHZ UHÂżQHU\ 7KH QHZ SURMHFWV DUH DVVXPHG WR KDYH DERXW ELOOLRQ investments. It is projected that their production capacity ZRXOG UHDFK WKRXVDQG EDUUHOV GDLO\ LQ WKH ÂżUVW SKDVH to be increased to 300 thousand in the second one. The SURMHFWV ZLOO KHDYLO\ GHSHQG RQ RLO SURGXFWV SURYLGHG E\ WKH 0LQLVWU\ RI 3HWUROHXP 0RUHRYHU LW ZLOO LPSRUW VRPH RI LWV QHHGHG RLO WKURXJK WKH 680(' SLSHOLQH ,WV RXWSXW ZLOO EH H[SRUWHG WR WKH UHVW RI WKH ZRUOG WKURXJK WKH 6RNKQD SRUW Âł7KH SURGXFWLRQ RI WKHVH QHZ SURMHFWV ZLOO ÂżOO LQ WKH JDS EHWZHHQ VXSSO\ DQG GHPDQG RI GLIIHUHQW RLO SURGXFWV FRQVXPHG in Egypt. This is expected to remarkably decrease the total oil bill for the government. This bill has been expanding recently ZLWK WKH FRQWLQXRXV ULVH LQ RLO SULFHV DQG WKH LQFUHDVLQJ FRVWV of transportation,â&#x20AC;? commented Mohamed Ayad, the head of the pipelines production company AYBEK. +H DGGHG WKDW RQH RI WKH PDMRU SURV RI WKH QHZ Ă&#x20AC;RZV RI IRUHLJQ LQYHVWPHQWV WR WKLV LQGXVWU\ LV WKH HPHUJHQFH RI QHZ KLJK TXDOLW\ JHQHUDWLRQV RI UHÂżQHULHV 7KLV LV H[SHFWHG WR LQ crease the added-value of the oil industry in the country. He PHQWLRQHG WKDW WKH QHZ UHÂżQHU\ ZRXOG FRVW QR PRUH WKDQ ELOOLRQ ZKLOH XSJUDGLQJ WKH H[LVWLQJ EXLOW UHÂżQHULHV ZRXOG FRVW DERXW ELOOLRQ Ayad pointed out that one of the major factors to contrib-ute to the success of these projects is the availability of oil SURGXFWV QHHGHG IRU RSHUDWLQJ DQG SURGXFLQJ QHZ SURGXFWV that are not available in the Egyptian market. He pointed out WKDW WKHVH SURMHFWV ZRXOG EHQHÂżW IURP 680(' SLSHOLQH WKDW WUDQVIHUV WKH *XOI RLO WR $OH[DQGULD ,W LV ZRUWK PHQWLRQLQJ WKDW *XOI FRXQWULHV ZHOFRPHG SURYLGLQJ (J\SWLDQ UHÂżQHULHV ZLWK UHTXLUHG SURGXFWV SURYLGHG WKDW WKHUH DUH ZHOO HVWDE OLVKHG IHDVLELOLW\ VWXGLHV IRU WKRVH UHÂżQHULHV 5HFHQWO\ LW ZDV DQQRXQFHG WKDW D FRQVRUWLXP RI LQ vestors under the leadership of Ramez Daloul, the Saudi oil investor are studying constructing a complete fourth JHQHUDWLRQ UHÂżQHU\ SURMHFW 7KH SURMHFW LV HVWLPDWHG WR FRVW QHDUO\ ELOOLRQ 7KH FRQVRUWLXP LV VWXG\LQJ WKH DELOLW\ RI constructing this project through a major holding company WKDW FRQWDLQV IRXU SHULSKHUDOV 7KH ÂżUVW ZLOO EH DVVLJQHG WKH WDVNV RI UHÂżQHU\ WKH VHFRQG IRU JHQHUDWLQJ HOHFWULFLW\ the third for imports, exports and operating and the last one for petrochemicals. $FFRUGLQJ WR WKH RLO H[SHUW 6D\HG $EX (O 1DJD WKH (J\SWLDQ UHÂżQHU\ LQGXVWU\ LV IDFLQJ D PDMRU FKDOOHQJH UHS resented in environment preservation. He pointed out that the concept of comprehensive development encompasses WKH HQYLURQPHQWDO VLGH +H DGGHG WKDW WKH ROG UHÂżQHULHV LQ VHUYLFH ULJKW QRZ ZLOO KDYH WR EH XSJUDGHG WR FRPSO\ ZLWK WKH LQWHUQDWLRQDO ODZV DQG SURWRFROV
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Fierce competition over Abu Qir gas field By: Ashraf Said
,1 DVVRFLDWLRQ ZLWK 0RUJDQ 6WDQOH\ *OREDO 2I¿FHV WKH (J\SWLDQ *HQHUDO 3HWUROHXP &RUSRUDWLRQ (*3& VHW D OLVW RI QLQH FRPSQDLHV TXDOL¿HG IRU WKH ODVW VWDJH RI $EX 4LU ELG URXQG $FFRUGLQJ WR VRXUFHV 3LFR FRPSDQ\ LV FRQVLGHUHG WKH FORVHU ORFDO FRPSDQ\ WR ZLQ WKLV ELOOLRQ ELG Forty six companies joined the race of the bid ODXQFKHG E\ WKH (*3& WR GHYHORS WKH RIIVKRUH $EX 4LU JDV ¿HOG LQ 7KH (*3& ZKLFK LV VHHNLQJ partners (Contractors) to farm into or contribute to the $EX 4LU JDV ¿HOG LV H[SHFWHG WR GHFLGH RQ WKH SURSRV als this June. 7KH EDVLF WHUPV RI SDUWLFLSDWLRQ ZLOO EH VLPLODU WR RWKHU FRQFHVVLRQV LQ WKH UHJLRQ ZLWK WKH FRQWUDFWRU UHFRY ering costs and receiving a share of production. The asset ZLOO EH RSHUDWHG E\ WKH FRQWUDFWRU WKURXJK D MRLQW YHQWXUH ZLWK (*$6 0RUHRYHU DOWHUQDWLYH VWUXFWXUHV SURSRVHG by prospective partners may also be considered. 7KH QXPEHU RI FRPSHWLWRUV KLJKOLJKWV WKH JURZLQJ LQWHUHVW DPRQJ HQHUJ\ JURXSV LQ WKH JDV ¿HOG WKRXJKW WR EH Ã&#x20AC;XVKHG ZLWK UHVHUYHV 6RXUFHV FORVH WR WKH GHDO VDLG FRPSDQLHV ZRXOG SUREDEO\ IRUP DOOLDQFHV DV ¿HUFH FRPSHWLWLRQ FRXOG SXVK XS WKH GHDO YDOXH WR QHDUO\ ELOOLRQ IRU WKH ODUJ HVW JDV ¿HOG LQ WKH *XOI RI 6XH] UHJLRQ &LWDGHO $O 4DODD *URXS DQG 3,&2 3HWUROHXP DUH among the most prominent local bidders for the deal, according to sources. This marks a return of intense FRPSHWLWLRQ EHWZHHQ ERWK FRPSDQLHV LQ WKH (J\SWLDQ HQHUJ\ PDUNHW DIWHU 3,&2 ZRQ DQ HDUOLHU ¿HOG GHYHORS PHQW GHDO WKDQNV WR LWV FRRSHUDWLRQ ZLWK .XZDLW 3HWUR leum Corporation.
$EX 4LU ZDV WKH ¿UVW JDV ¿HOG GHYHORSHG LQ WKH Egyptian Mediterranean and since 1979, it has served WKH GRPHVWLF PDUNHW¶V JURZLQJ GHPDQG IRU JDV &XUUHQWO\ WKH $EX 4LU ¿HOG LV RZQHG E\ (*3& DQG HQMR\V D SURGXFWLRQ UDWH RI 00FIG RI JDV ZKLFK LV IHG WR WKH ORFDO PDUNHW LQ DGGLWLRQ WR /3* and condensate. 7KHUH LV D GHYHORSPHQW SODQ IRU WKH $EX 4LU ¿HOG WKDW LQFOXGHV GULOOLQJ QHZ ZHOOV DQG ZRUNLQJ RYHU WKH H[LVWLQJ ZHOOV WDUJHWLQJ DOPRVW GRXEOLQJ WKH SURGXF WLRQ UDWH LQ WKH QH[W IHZ \HDUV 7KH DVVHW LQFOXGHV VLJ QL¿FDQW LQIUDVWUXFWXUH DQG LV LGHDOO\ VXLWHG WR DFW DV a transportation hub for the fast developing Western Mediterranean area. 7KH FRQWHVW RYHU $EX 4LU *DV )LHOG LV SDUW RI D SODQ GHYHORSHG E\ WKH 0LQLVWU\ RI 3HWUROHXP WR UHKDELOLWDWH WKH VWDWH RZQHG ROG ¿HOGV WR NHHS XS SURGXFWLRQ UDWHV 7KH $EX 4LU &RQFHVVLRQ QRZ VSDQV WKUHH ¿HOGV $EX 4LU 1RUWK $EX 4LU DQG :HVW $EX 4LU &XPXOD WLYHO\ WKHVH ¿HOGV FXUUHQWO\ SURGXFH 00FIG EXW IROORZLQJ WKH LGHQWL¿FDWLRQ RI D QXPEHU RI DGGLWLRQ DO UHVHUYHV DQG VL]HDEOH UHVRXUFH SRWHQWLDO (*3& LV VHHNLQJ SDUWQHUV WR WDNH WKH &RQWUDFWRU¶V UROH LQ WKH Concession and further its development. 7KH RULJLQDO $EX 4LU ¿HOG KDV ZHOOV RI ZKLFK are currently producing, three have mechanical prob-OHPV ZKLFK ZLOO EH UHSDLUHG DQG WKUHH ZHOOV ZLOO EH re-completed to produce in the near future. 1RUWK $EX 4LU KDV VL[ SURGXFLQJ ZHOOV DQG WKH PRVW UHFHQW SODWIRUP :HVW $EX 4LU KDV WZR SURGXF LQJ ZHOOV 1RUWK $EX 4LU DQG :HVW $EX 4LU DUH WLHG EDFN WR
$EX 4LU IURP ZKHUH JDV LV SLSHG WR WKH 0HDGLD *DV 3ODQW IRU VHSDUDWLRQ LQWR VDOHV JDV /3* DQG FRQGHQ VDWH $IWHU SURYLGLQJ SRZHU DQG VHSDUDWLRQ RI FRQGHQ VDWH /3* VDOHV JDV LV RI UDZ JDV 7KH FDORUL¿F YDOXH RI $EX 4LU JDV LV %78 VFI A program of production enhancements is under-ZD\ DQG LQFOXGHV VWDJH WZR FRPSOHWLRQV UHSDLUV WKH WLH EDFN RI DQ DSSUDLVDO ZHOO DQG GULOOLQJ WKUHH GHYHO RSPHQW ZHOOV RQ 1RUWK $EX 4LU 7KLV ZLOO LQFUHDVH WKH FXUUHQW SURGXFWLRQ WR 00FIG 7KH ¿HOG LQIUDVWUXF WXUH KDV DQ RYHUDOO FDSDFLW\ RI 00FIG DOORZLQJ DGGLWLRQDO ZHOOV WR EH FRPIRUWDEO\ DFFRPPRGDWHG Current condensate production is 3,700 bpd. 7KH :HVWHUQ 'HVHUW 3HWUROHXP &RPSDQ\ :HSFR RSHUDWHV $EX 4LU RQ EHKDOI RI WKH (*3& DQG NH\ HPSOR\HHV ZLOO EH WUDQVIHUUHG WR WKH QHZ HQWLW\ VHW upon completion of a transaction (or if preferred by the Contractor, their existing joint venture company in Egypt).
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Table 1
World Oil Supply1 (Thousand Barrels per Day)
Table 2
Egypt Rig Count -March 2008 No. of Wells
Area G.O.S W.D. Delta Med. Sea Sinai E.D.
Exploratory
Development
Workover
Completion
Water Inj.
2 14 4 5
6 24 2 4
5 21 1 2
1 8
2
1 1
4 7
27
47
4 2 1 36
G.Elwadi Total
Rigs per Area Area
Onshore
G.O.S W.D. Delta Med. Sea Sinai E.D. G.Elwadi Total
Table 1
Offshore
Persian Gulf3
OAPEC4
OAPE-124
OAPE-114
World
2007 April
E
8,506
22,953
24,115
34,719
33,016
84,570
May
E
8,566
22,953
24,142
34,570
32,853
84,252
June
E
8,520
22,870
24,095
34,463
32,761
84,380
July
E
8,526
22,926
24,169
34,713
32,981
84,815
August
E
8,360
22,880
24,118
34,682
32,929
83,827
September
E
8,324
23,430
24,694
35,318
33,504
84,661
October
E
8,474
23,580
24,748
35,560
33,645
85,470
November
E
8,539
23,237
24,416
35,351
33,384
85,366
December
PE
8,670
23,886
25,067
36,080
34,065
85,726
2007 Average
PE
8,481
23,117
24,299
34,917
33,148
84,635
1 10
3
* (OZDGL 'HOWD
Sinai
14
1 ³2LO 6XSSO\´ LV GH¿QHG DV WKH SURGXFWLRQ RI FUXGH RLO LQFOXGLQJ OHDVH FRQGHQVDWH QDWXUDO JDV SODQW OLTXLGV DQG RWKHU OLTXLGV DQG UH¿QHU\ SURFHVVLQJ JDLQ ORVV 2 8 6 JHRJUDSKLF FRYHUDJH LV WKH 6WDWHV DQG WKH 'LVWULFW RI &ROXPELD %HJLQQLQJ LQ LQFOXGHV IXHO HWKDQRO blended into ¿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evised data are in bold italic font.
0HG 6HD
67 7
E.D.
11 10 11 1 96
1
United States2
W.D.
* 2 6
25
World Crude Oil Production (Including Lease Condensate) (Thousand Barrels per Day)
Table 4
Egypt
Libya
Sudan
Other
World
OPEC-121
OPEC-111
Persian Gulf2
North Sea3
2007 April
609
1,680
447
2,663
73,520
31,452
29,773
20,494
4,354
May
649
1,680
440
2,617
72,985
31,304
29,609
20,494
4,084
June
679
1,680
470
2,587
72,710
31,189
29,509
20,403
3,755
July
679
1,700
482
2,590
73,154
31,488
29,778
20,508
4,107
August
679
1,700
486
2,640
72,459
31,456
29,726
20,462
3,718
September
679
1,720
490
2,673
73,318
32,089
30,298
21,012
3,912
October
609
1,740
500
2,699
73,938
32,324
30,435
21,158
4,121
November
609
1,740
520
2,770
73,751
32,169
30,230
20,873
4,038
December
609
1,740
520
2,786
74,202
32,847
30,861
21,474
4,009
2007 Average
637
1,702
464
2,671
73,310
31,673
29,928
20,682
4,093
France
1 23(& 2UJDQL]DWLRQ RI WKH 3HWUROHXP ([SRUWLQJ &RXQWULHV $OJHULD $QJROD ,QGRQHVLD ,UDQ ,UDT .XZDLW /LE\D 1LJHULD 4DWDU 6DXGL $UDELD WKH 8QLWHG $UDE (PLUDWHV DQG 9HQH]XHOD 23(& GRHV QRW LQFOXGH $QJROD 2 7KH 3HUVLDQ *XOI FRXQWULHV DUH %DKUDLQ ,UDQ ,UDT .XZDLW 4DWDU 6DXGL $UDELD DQG WKH 8QLWHG $UDE (PLUDWHV 3URGXFWLRQ from the .XZDLW 6DXGL $UDELD 1HXWUDO =RQH LV LQFOXGHG LQ 3HUVLDQ *XOI SURGXFWLRQ 3 1RUWK 6HD LQFOXGHV WKH 8QLWHG .LQJGRP 2IIVKRUH 1RUZD\ 'HQPDUN 1HWKHUODQGV 2IIVKRUH DQG *HUPDQ\ 2IIVKRUH Revised data are in bold italic font.
OECD1 Countries and World Petroleum (Oil) Demand (Thousand Barrels per Day)
German
South United Other United OECD Italy Kingdom Europe2 Canada Japan Korea States3 OECD4
OECD1
World
2007 April
1,854
2,343 1,631 1,776 14,776 2,198 4,876 2,215 20,579 3,302 47,946
NA
May
1,788
2,393 1,704 1,801 14,926 2,315 4,405 2,071 20,631 3,497 47,845
NA
June
1,900
2,456 1,670 1,766 15,170 2,323 4,568 2,063 20,737 3,579 48,440
NA
July
1,941
2,500 1,687 1,775 15,367 2,416 4,564 2,047 20,641 3,522 48,557
NA
August
1,908
2,581 1,552 1,709 15,237 2,398 4,597 2,091 21,051 3,388 48,761
NA
September
1,929
2,603 1,651 1,763 15,607 2,337 4,860 2,027 20,385 3,291 48,507
NA
October
2,128
2,702 1,748 1,742 16,120 2,350 4,793 2,208 20,455 3,572 49,499
NA
November
2,063
2,549 1,724 1,779 15,808 2,402 5,206 2,350 20,708 3,485 49,959
NA
2007 11Month Average
1,947
2,483 1,677 1,774 15,333 2,342 4,908 2,192 20,682 3,451 48,908
NA
1 OECD: Organization for Economic Cooperation and Development. 2 OECD Europe consists of Austria, Belgium, Czech Republic, Denmark, Finland, France, Germany, Greece, Hun-JDU\ ,FHODQG ,UHODQG ,WDO\ /X[HPERXUJ WKH 1HWKHUODQGV 1RUZD\ 3RODQG 3RUWXJDO 6ORYDNLD 6SDLQ 6ZHGHQ 6ZLW]HUODQG 7XUNH\ DQG WKH 8QLWHG .LQJGRP 3 8 6 JHRJUDSKLF FRYHUDJH LV WKH 6WDWHV DQG WKH 'LVWULFW RI &ROXPELD 4 2WKHU 2(&' FRQVLVWV RI $XVWUDOLD 0H[LFR 1HZ =HDODQG DQG WKH 8 6 7HUULWRULHV 1$ 1RW DYDLODEOH Revised data are in bold italic font. 1RWHV 7KH WHUP 'HPDQG LV XVHG LQWHUFKDQJHDEO\ ZLWK &RQVXPSWLRQ DQG 3URGXFWV 6XSSOLHG
US Dollars per Barrel
US Dollars per Barrel
US Dollars per Barrel
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Table 5
Table 6
World Natural Gas Liquids Production (Thousand Barrels per Day)
Algeria Canada
Mexico
United Persian OAPE3 OAPE-124 OAPE-114 World States1 Gulf2
Soudi Former Arabia Russia U.S.S.R
International Stock
International Stock Prices Mid-February 2008 - Mid-March 2008 High
Low
Schlumberger [SLB] NYSE [US Dollars]
89.10
82.80
2007 April
340
661
420
1,427
427
_
E
1,749 2,349 2,805
3,128
3,104
7,950
35.84
340
670
412
1,427
429
_
E
1,787 2,350 2,805
3,128
3,105
7,921
Halliburton [HAL] NYSE [US Dollars]
39.26
May
7,877
Exxon Mobil [XOM] NYSE [US Dollars]
89.89
82.46
Atwood Oceanics [ATW] NYSE [US Dollars]
98.66
83.37
Weatherford [WFT] NYSE [US Dollars]
70.41
65.20
73.26
68.62
June
340
621
418
1,427
424
_
E
1,775 2,358 2,813
3,136
3,113
July
340
624
401
1,427
425
_
E
1,778 2,308 2,764
3,087
3,064
7,847
August
340
619
378
1,427
428
_
E
1,755 2,309 2,764
3,087
3,064
7,733
September
340
636
372
1,427
428
_
E
1,795 2,309 2,764
3,091
3,068
7,744
October
345
679
371
1,427
428
_
E
1,837 2,313 2,767
3,097
3,071
7,953
Shell [RDS.A] NYSE [US Dollars]
8,014
Apache [APA] NYSE [US Dollars]
106.19
118.99
71.11
66.23
November
347
688
364
1,427
424
_
E
1,868 2,255 2,712
3,044
3,016
December
349
692
379
1,427
423
_
PE 1,823 2,303 2,763
3,095
3,066
8,054
Baker Hughes [BHI] NYSE [US Dollars]
2007 Average
342
670
396
1,427
426
_
PE 1,776 2,325 2,781
3,106
3,082
7,913
BJ [BJS] NYSE [US Dollars]
26.94
23.87
Lufkin [LUFK] NYSE [US Dollars]
62.99
55.93
Transocean [RIG] NYSE [US Dollars]
143.76
129.07
Transglobe [TGA] NYSE [US Dollars]
5.56
4.91
BP [BP.] LSE Pence Sterling
572.00
528.50
BP [BP.] LSE Pence Sterling
1213.00
1131.00
Dana Gas [Dana] ADSM US Dollars
2.50
2.26
Caltex [CTX] ASX Australian Dollars
16.67
11.27
RWE DWA [RWE AG ST] Deutsche-Borse Euros
88.08
77.80
Lukoil [LKOH] RTS [US Dollars]
76.70
70.80
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Average Currency Exchange Rate against the Egyptian Pound (February / March 2008)
US Dollar 5.475
Company Alexandria Mineral Oils [AMOC.CA] Sidi Kerir Petrochamicals [SKPC.CA]
Euro 8.216
Sterling 10.837
Stock Market Prices (February / March 2008) High
Yen (100) 5.190
Low
81.79
75.05
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