Friday, March 29, 2024
Home Blog Page 292

ADNOC’s Integrated Gas Master Plan to Meet Growing Energy Needs for Abu Dhabi and Overseas Customers

0

Plan will maximise gas value in line with exploration and production strategy

Abu Dhabi, UAE – November 10 2016: ADNOC, Abu Dhabi’s integrated oil and gas company, has unveiled its new Gas Master Plan, to ensure a sustainable and economic supply of gas to meet the growing energy requirements of Abu Dhabi and ADNOC’s international customers.

In line with ADNOC’s recently announced ‘2030 Strategy’, there will be a strong focus on the application of new and innovative technologies to enable greater gas recovery in all reservoirs. ADNOC also plans to tap into additional sour gas reservoirs to boost supplies of gas.

As part of its integrated Gas Master Plan, which links every part of the gas value chain, ADNOC has also initiated a gas price restructuring exercise to maximise the value of its gas, and ensure ADNOC receives a fair price for its gas.

Omar Suwaina Al Suwaidi, ADNOC Gas Management Director, said: “ADNOC is exploring a number of options to make more gas available for higher priority applications, maintain a sustainable gas supply, and meet Abu Dhabi’s increasing gas demand in the future.

“We believe that we can shrink our energy imports substantially by tapping into undeveloped deep and sour gas reserves, unconventional gas resources and deploying innovative technology such as Carbon Capture Utilisation and Storage (CCUS) for Enhanced Oil Recovery (EOR).

“Our focus is on delivering ADNOC’s key imperatives of performance, profitability and efficiency to ensure we create maximum value from our resources and stay competitive in the evolving energy market,” Al Suwaidi added.

He was speaking after participating in the ‘Future Energy Scenario: Gas As The Clean Alternative of Choice’ panel session, on the final day of the Abu Dhabi International Petroleum Exhibition and Conference (ADIPEC), at the Abu Dhabi National Exhibition Centre (ADNEC).

The session discussed the use of natural gas as a clean energy bridge to the future; how industry can embrace the wider use of natural gas for both domestic and industrial power needs whilst reducing greenhouse gas emissions and how the energy and automotive industries can work together to further enhance the cross over in innovation and technology to increase the use of natural gas as a fuel for public and private transport .

ADNOC’s 2030 strategy calls for it to optimize the volumes of gas used for re-injection and in field power generation, to free up valuable gas for other uses, such as electricity generation and water desalination.

ADNOC’s plans to increase its sour gas production, and subsequently the sulphur by- product, over the coming decade, would make Abu Dhabi one of the world’s largest sulphur producers.

ADNOC will maximise the value of its sulphur by working closely with key fertilizer markets, while also supporting the development of a local sulphur products industry, including enhancing the existing ammonia and urea industry, with a new generation of advanced fertilisers.

ADNOC’s gas portfolio of companies includes Abu Dhabi Gas Industries Limited (GASCO), Abu Dhabi Gas Liquefaction Company (ADGAS) and Al Hosn Gas.

Schlumberger Licenses ADNOC Offshore Drilling Technology

0

Abu Dhabi, UAE – November 9, 2016: The Abu Dhabi National Oil Company (ADNOC) has entered into an agreement with Schlumberger, a world leader in drilling technology, to license ADNOC’s proprietary offshore drilling technology for use in Schlumberger’s portfolio of drilling services. The Stabilising System for Deep Drilling (SSDD) technology greatly improves offshore drilling operations by improving borehole stability and reducing drill times, with significant potential savings for operating companies.

The licensing agreement was signed, today at the Abu Dhabi International Petroleum Exhibition and Conference (ADIPEC), by Abdulmunim Saif Al Kindy, ADNOC’s Director of Exploration, Development and Production, and Djamel Idri, Schlumberger’s General Manager and Vice President, UAE, at ADIPEC, the world’s most influential oil and gas show, taking place in Abu Dhabi, until November 10.

Al Kindy said: “The international licensing of this technology represents an important milestone for the company. The SSDD greatly reduces complications in the offshore drilling process, where conditions are often challenging and costs are high. We are excited to see this invention shared through this global agreement, which will spread ADNOC’s technological expertise worldwide.”

Also Read: Schlumberger Rebrands to SLB, Beats Earnings Estimates As Q2 Revenues Grow By 10%

The licensing of the SSDD system represents the first time a proprietary ADNOC technology will have been commercialised abroad.

The system was developed by Fahed Al Ameri, ADNOC Drilling Department Manager, and Farhaad Khaled Saeed Mohamed Al Awadhi, ADMA OPCO Drilling Technical Support Manager and is manufactured in the UAE.

“The addition of the SSDD technology to Schlumberger’s industry-leading portfolio of drilling tools and services presents an opportunity to improve drilling performance in offshore operations,” said Idri.

“By minimising down-time and increasing drilling stability, operators stand to reap savings in both time and unexpected costs. We are pleased to bring ADNOC’s technology to our customers, and look forward to further cooperation between our companies.”

Also Read: Schlumberger Signs $700 Million Nigeria Oil-Field Deal

Downhole stability has been a major challenge for offshore operators, where environmental concerns prevent the use of many additives to drilling fluid.

The licensing of the SSDD system, through Schlumberger, presents an economic opportunity for ADNOC and a reliable solution for operators in many of the world’s most challenging operating environments.

Workplace Diversity Fundamental to Petroleum Industry Progress

0
AfDB to Focus on Investing in Africa's Women

“Inclusive Environments form the Bedrock of Innovation,” says Intisaar Al Kindi, Petroleum Development Oman Exploration Director 

ADIPEC ‘Women in Energy’ Conference Sheds Light on Milestones and Challenges for Female Professionals

Abu Dhabi, UAE – 09 November 2016 – The success and long-term sustainability of the petroleum industry will largely depend upon its ability to embrace workplace diversity, industry leaders said during ADIPEC’s ‘Women in Energy’ conference today.

And with innovation needed now more than ever amid an evolving energy landscape and an increasingly competitive business environment, diversity of thought is proving to be an essential driver of industry progress.

“Women make a valuable contribution to every business and across industries, and studies have consistently shown the importance of diversity in the workplace. Roles that have been traditionally male-dominated are witnessing an evolution, and women are increasingly taking the helm in leadership positions,” said H.E. Merete Juhl, Danish Ambassador to the UAE and Qatar, and a key speaker at ‘Women in Energy’.

“This holds true for the energy sector now more than ever. The energy landscape is evolving, presenting women with a host of new and exciting career opportunities. By helping prospective candidates identify these opportunities and creating a supportive framework for career development, we are cultivating tomorrow’s generation of female energy leaders.”

With an established track record of raising an engaging and inspiring debate on the issues surrounding the role of women in the energy sector, ‘Women in Energy’ is part of the Abu Dhabi International Petroleum Exhibition and Conference (ADIPEC), the world’s most influential event for the oil and gas industry.

‘Women in Energy’ invites both male and female leaders to the stage to share their experience and insights on the journey to success. Eight engaging sessions, including on-stage interviews and a live voting discussion with global management consulting firm A.T. Kearney, addressed the challenges and the many opportunities for women in the energy sector.

“The benefits of increasing gender diversity in the workplace are significant. Closing the gender gap can alone add 12 percent growth to the OECD economy by 2030 and generate a positive impact on the profitability of companies,” said Ada Perniceni, Partner at A.T. Kearney.

According to recent research from A.T. Kearney, female participation in the regional workforce has increased by 33 percent since 1993. Growth in female participation across industries in the GCC ranges from 15 percent in Kuwait to 63 percent in the UAE.

“In the energy sector, the role of gender diversity is as important as for other industries,” said Perniceni. “There is an untapped opportunity to be further explored and exploited. I believe that reaching gender diversity and reaping the benefits will require a concerted effort not only by the women themselves, but also through collaboration and identification of solutions in social networks, governments and companies alike.”

An inclusive and open corporate environment, one in which varying perspectives are encouraged, new ideas are embraced, and experimentation and ‘out-of-the-box’ thinking are valued, forms the “bedrock for innovation,” according to Intisaar Al Kindi, Exploration Director at Petroleum Development Oman.

“Traditionally, the oil and gas industry has been a male-dominated environment, and it only seems natural that organisations will find it difficult to optimise their performance if they are excluding half of the population,” she said. “Women can often be more collaborative and communicative in their approach, which is very important when discussing, assessing, and implementing new ideas.”

Innovation will play an instrumental role in helping the industry operate more safely, responsibly, and efficiently, which is important not only for meeting current challenges, but also for the industry’s long-term sustainability, added Al Kindi.

“New technology and ways of working are helping us identify the opportunities and risks in our fields and address them in a more streamlined, faster and relevant manner. At times of crisis, when experienced staff are let go, innovation can suffer, so it is also vital that you have a pipeline of talented, technically competent, and balanced pool of staff who can adapt and work collaboratively with the latest technologies in a rapidly changing sector.”

Established as one of the world’s most influential exhibition and conferences for the oil and gas industry, ADIPEC has a longstanding track record of bringing together globally celebrated luminaries and experts to discuss challenges and opportunities in the energy sector. The annual four-day event takes place from 7-10 November 2016 at the Abu Dhabi National Exhibition Centre.

Low Oil Price Means Now is the Time to Invest, Says UAE Energy Minister

0

His Excellency Suhail Mohamed Faraj Al Mazrouei says Companies that can Respond Quickly Will Profit When Demand Increases

“The oil industry is inherently cyclical – this is a basic point that often gets overlooked in the short-term noise”

Abu Dhabi, UAE – 9 November 2016 – Oil companies that invest during the current downturn in oil prices stand to profit the most when supply and demand comes back into balance, according to the UAE’s Energy Minister, His Excellency Suhail Mohamed Faraj Al Mazrouei.

Speaking on the sidelines of His Excellency’s Q&A discussion at ADIPEC’S VIP Programme on the UAE’s future energy vision, His Excellency said the long-term demand for oil outstripped supply, and that for companies with strong balance sheets and a long-term view now was the time to invest, not to withdraw.

“The oil industry is inherently cyclical – this is a basic point that often gets overlooked in the short-term noise – and finding an equilibrium between supply and demand is almost impossible,” His Excellency said.

“However, demand has consistently increased, and the business cycle that drives an increase in demand moves much more quickly than the oil industry can expand its capacity for supply.”

His Excellency said around USD 200-billion worth of oil and gas projects had been postponed worldwide because of the fall in prices. With the industry needing between six and nine years to move from discovery of new deposits through to production, the dramatic fall in investment would leave companies making those cuts slow to respond when the market started to rise.

By contrast, those that invested while asset prices were low would be ideally positioned with to meet increased demand with additional capacity, gaining a bigger share of a future rising market.

“The dramatic reaction in reducing investment will inevitably lead to demand coming back into equilibrium, and ultimately exceeding supply in the coming years,” His Excellency said. “We can see the cyclical nature of the industry reinforced before our very eyes. For those companies that are strong enough to hold their nerve and make strategic long-term investments, this is a golden opportunity.”

His Excellency said the very fact that oil had fallen so significantly in price could itself trigger a recovery.  Lower costs acted as an economic stimulus for countries that were net energy importers, supporting growth in the global economy, and ultimately increasing demand in the commodities markets, His Excellency concluded.

ADNOC to Expand Use of EOR and ERD Technologies to Maximise Value of Resources

0

Abu Dhabi-UAE: 10 November, 2016 – ADNOC, Abu Dhabi’s integrated oil and gas company, today announced that it will expand its use of Enhanced Oil Recovery (EOR) and Extended Reach Drilling (ERD) technologies as part of its plans to maximise the value of its resources.

ADNOC intends to expedite the development of its hydrocarbon resources, and enhance recovery from several smaller and more complex structures within its reserve base. Through partner research projects and technological implementation, ADNOC aims to enhance recovery from these reserves.

ADNOC has been deploying ERD since the early 90s, maximising contact with the reservoir by drilling horizontally through the reservoir. Since 2014, ADNOC has used the technology to cluster wells in its onshore and offshore fields.  ADNOC also uses both CO2 and gas injection EOR to extend the lifespan of maturing oilfields and increase their productivity.

Under its recently approved 2030 Strategy and five-year business plan, ADNOC is on track to increase crude oil production by 400,000 bpd over the next two years, bringing its total production to 3.5m bpd by end 2018.

“We are focusing on delivering more valuable and profitable operations across exploration, drilling and production, while maintaining the highest standards of HSE and protecting the integrity of our assets,” said Abdulmunim Al Kindy, ADNOC’s Exploration, Development & Production Director.

He added: “We have already laid the foundations to enable ADNOC to achieve maximum economic and technically viable production levels in order to accelerate our contribution to Abu Dhabi’s GDP and to ensure we stay competitive and deliver the greatest value from our resources.”

Last month, ADNOC announced its intention to consolidate its offshore exploration operations by integrating the Abu Dhabi Marine Operating Company (ADMA-OPCO) and Zakum Development Company (ZADCO) into a new single company.

The consolidation is expected to yield significant financial and operational benefits. The new company resulting from this integration will be more agile, better able to respond to changing market demands, and well positioned to take advantage of strategic opportunities for future growth.

Acumen and GE Support Social Enterprises across East and West Africa to Build Inclusive Businesses that Tackle the Problems of Poverty

0

Since 2001, Acumen has invested more than $35 million in 31 companies in East and West Africa working in agriculture, energy, health care, clean water and sanitation to better serve each region’s poor

NAIROBI, Kenya, November 8, 2016/ — Acumen (http://Acumen.org), in partnership with GE (www.GESustainability.com), kicked off its fourth annual Collaboration Summit today in Nairobi. Acumen, a nonprofit impact investor, created the summit to bring social enterprises and international corporations together to catalyze inclusive business models that address Africa’s biggest social challenges. Since 2001, Acumen has invested more than $35 million in 31 companies in East and West Africa (http://APO.af/6f7lbT) working in agriculture, energy, health care, clean water and sanitation to better serve each region’s poor. The Collaboration Summit is a key part of Acumen’s Technical Assistance Initiative (http://APO.af/2uUvNi), a five-year $1 million program that aims to accelerate the growth and impact of its portfolio companies so they become sustainable, financially viable and inclusive of poor and marginalized communities.

“At Acumen, we believe there is much for social enterprises and large businesses to learn from each other and achieve together,” said Duncan Onyango, Acumen’s East Africa Director. “With GE’s support, we are working to cultivate an environment that enables companies, big and small, to understand the shared value of partnerships, strategically integrate social and environmental values into their models and ensure the success of all stakeholders.”

For this year’s Collaboration Summit, held at the Villa Rosa Kempinski Hotel, Acumen gathered a select number of committed multinationals and more than 15 of its social enterprises to work together on redefining business’s role in driving social impact and growing inclusive emerging markets. GE offered its support as the sole Summit Partner while Dow (http://APO.af/a6ad9d) supported as a Technical Assistance Initiative Partner and Intellecap (www.Intellecap.com) as a Knowledge Partner, leading a Summit session on partnerships to improve healthcare access.

“We’re delighted to be part of this year’s Collaboration Summit to share ideas and learnings on doing business that drives social impact and inclusive growth in Africa,” said GE Africa’s President and CEO Jay Ireland. “We see GE as partners in building Africa’s sustainable future and I’m looking forward to working with the participating social entrepreneurs to explore innovative solutions to Africa’s challenges.”

This year’s summit (http://APO.af/sDeMTo) focuses on the challenges holding emerging markets back—including those obstacles facing individual companies as well as entire industries like agriculture or renewable energy—and solutions that involve players from across big and small business, government, and civil society. For example, Unilever is partnering with Acumen and portfolio company BURN Manufacturing—a clean cookstove manufacturer (http://APO.af/5Zjmvw)—to improve the livelihoods of Africa’s smallholder farmers and build sustainable supply chains that source from these vulnerable rural communities. Collaborations in healthcare and agriculture were also highlighted.

Some of Acumen’s participating investments include: Esoko (https://Esoko.com), a mobile platform that provides Africa’s rural farmers with agronomic tips and market access that will improve their incomes; Devergy (https://Devergy.com), a social enterprise that delivers affordable, reliable solar energy to low-income communities living off the grid; and Sanergy (http://APO.af/wwi3cx), a company that provides residents of Kenya’s slums with affordable sanitation, and produces organic fertilizer to improve soil quality for Kenyan farms. Additional participating corporations involved include Unilever (www.Unilever.com) and Barclays (www.home.Barclays), both partners of the Technical Assistance Initiative, and EY (www.EY.com), which provides professional services to some of Acumen’s portfolio companies in the region.

“When we started this initiative we hoped that leading global corporations could help social enterprises to scale,” said Yasmina Zaidman, Acumen’s Director of Strategic Partnerships. “Now we know that these enterprises, through their focus on underserved markets and breakthrough innovation, can be powerful allies to corporations as well.”

Since its founding, Acumen has invested more than $101 million in 92 companies in East and West Africa, Southeast Asia, Latin America and the United States to support a wide range of sustainable, scalable businesses using marketbased approaches to deliver products and services to the poor. Though the Collaboration Summit, Acumen and the Summit participants are working to find ways to expand these innovations to impact millions of lives across East and West Africa.

Buhari Inaugurates Nigeria’s First Solar Power Plant at the University of Ibadan

0
Full Speech of President Muhammadu Buhari On End SARS Protests

The plant has the capacity to supply 10 megawatts of renewable electricity to the university community and its environs when completed.

The multi-million dollar project is a product of negotiation and financing between the Federal Government, through the Tertiary Education Trust Fund, the German government and UI.

The Ibadan plant serves as a pilot project for other universities in Nigeria, with three more Nigerian universities set to benefit from the partnership with the German government.

Apart from providing power for UI, the station will also serve as a training centre for engineering students and technicians from the university.

President Buhari, who was represented by the Minister of State for Education, Prof. Anthony Anwuka, said the project was in line with the national energy policy geared towards augmenting existing power sources in order to achieve the goal of reliable and sustainable energy for Nigerians.

He said, “Today’s groundbreaking ceremony is a culmination of more than two years of negotiation involving UI, the Federal Government and German government. This is why the FG, through TETFund, has committed itself to this project with the provision of funds.”

TOTAL Concludes Plans to Boost Nigeria’s Power Supply with $3bn

0
Total, Google Cloud Develop Solar Mapper

Pascal Dauboin, Senior Advisor for Digital Technologies, TOTAL, says the company is to spend $3 billion on energy modernisation programme in Nigeria to enhance efficient energy production and usage.

Dauboin made this known on Thursday during a meeting with Nigerian delegation at the Gulf Information Technology Exhibition in Dubai.

According to him, TOTAL aims to expand the electricity supply of Nigeria and create more efficient energy production and usage in the country.

He said: “The $3 billion energy modernisation programme aims to expand the electricity supply, create more efficient energy production and usage, and increase rural and semi-urban power access from 35 per cent to 75 per cent.

“TOTAL is at the forefront of adopting innovations such as drones, robotics, and early event detection systems to monitor and repair infrastructure.

“The new generations of sensors will enable the development of new products for real time, on-line analysis, following the always increasing safety and quality requirements.

“Digitally transformed processes will increase performance, robustness and safety in many industrial domains, while building the job skills of tomorrow.”

Dauboin, therefore, urged other multinational companies to do more in supporting better energy infrastructures in the continent, especially in Nigeria.

He said: “Multinational companies’ experience of working in a multinational and multicultural context can help drive innovation across energy sector, by playing a leading role in supporting high-tech energy infrastructure projects in Nigeria and Africa at large.

“Nigeria is Africa’s largest oil producer, and the world’s fourth-largest liquefied natural gas exporter, according to the United States Energy Information Administration.

“In today’s interconnected world, the ability to find, share, and integrate knowledge from across the spectrum is essential.”

Dauboin said that TOTAL was rapidly undergoing a digital transformation, with a rapid uptake in innovative technologies that were driving digital oilfields.

Responding to the gesture, Dr. Ibrahim Pantami, the Director-General, National Information Technology Development Agency, said Africa hosts tremendous investment opportunities for technology-driven energy companies.

Pantami said: “From digital oilfields running on drones and robotics, to smart grids distributing electricity generated from renewable energy, the energy sector in Nigeria and Africa hosts tremendous investment opportunities.

“The meeting provides the opportunity for companies participating in GITEX to find new investment opportunities available in Nigeria under one roof.”

In a related development, Trixie LohMirmand, Senior Vice-President, Exhibitions and Events Management, Dubai World Trade Centre, said: “The energy, oil and gas sector in Nigeria and Africa is rapidly undergoing digital transformation.

“Key players can discover the latest innovations and business opportunities at GITEX Technology Week.”

Senate Expresses Worry Over Liquidity Crunch in Power Sector

0

By Sola Akingboye,

FCT, Abuja

The Senate Committee on Power led by its Chairman, Senator EnyinnayaAbaribe, on has expressed worry over liquidity crunch in the power sector just as they cast doubt on the financial and technical ability of the private investors in the power sector.

The Committee members who were on oversight visits to government agencies in the power sector were at the Nigerian Electricity Regulatory Commission (NERC) in the week. The lawmakers queried the reduction in cash collection which they claimed notched N15billion before privatisation but to about N5billion, even as electricity distribution companies relied on estimated billing rather than metered their customers.

Abaribe retorted, “Are you sure the privatisation of the power sector is producing the needed result with the underperformance by the new investors” even as he assured of his Committee’s readiness to give the needed empowerment to the Commission to ensure that it perform its regulatory functions effectively.

Addressing the Committee members, the acting Chairman, Dr. Anthony Akah, said that the Commission was changing its regulatory approach from being soft handed as was adopted when the operators came on board three years ago to strict applications of rules and regulation to ensure operators in the value chain play by the rules and regulations.

Akah said that such strict applications of rules and regulations would be balanced with efforts to remove obstacles militating against optimal performance of licensees in the power sector.

He cited imposition of sanctions on erring operators in nine different instances within the last four months as indications of the change in regulatory tactics, even though some of the sanctions are been appealed in courts, he assured that the operators would be guided back on the track.

He listed some challenges to strict applications of rules and regulations as the inability of some of the critical stakeholders to meet the conditions precedent.

According to him, “the operators are hiding behind judicial proceedings to prevent posting of letter of credit and possibility of escrowing their account,” thereby frustrating strict compliance with contractual obligations as well as causing liquidity problem in the sector.

Akah, however, assured that some of the electricity distribution companies which had initiated the court proceedings are beginning to see the futility of the exercise and may soon withdraw the suit they instituted.

He said that the Commission through its regulatory initiative facilitated 40 megawatts by Paras Energy in Lagos even as he advised the lawmakers to impress it on their respective state government to take interest in investing in the power which is on concurrent list in the constitution.

Experience in Nigeria, according to him, is not different from most other countries where power sectors have been privatised especially in the first five years when teething problems are managed but that Nigerians must begin to treat electricity as a product that has its cost of production.

Ghana: Arnlea Wins Tullow Oil’s Inspection Contract

0

Arnlea Systems has been awarded a contract to carry out inspection services for African-focused Tullow Oil Plc.The Aberdeen-based asset manager is to use its hazardous area inspection system, Intrinsix Ex, to carry out inspections on two floating production, storage and offloading vessels hired by Tullow Oil.

The two vessels are to be used on the Jubilee and Ten fields offshore Ghana.Arnlea however, did not disclose the value of the contract, but said it won over £500,000 worth of new business with three major FPSO companies, including Modec, during H2 of 2016, according to Energy Voice.

“It is great testament to the cost saving and efficiency gains the Arnlea system can provide, especially in a constrained market. Intrinsix Ex will allow Tullow to remain compliant, increase operational efficiency and achieve a return on investment well within the first year,” Allan Merritt, Arnlea managing director, said.

Mozambique: Delonex And Indian Oil Corporation To Carry Out Seismic Surveys In Maputo Province Next Year

0

Delonex Energy in cooperation with the Indian Oil Corporation plans to carry out oil and gas seismic and geophysical surveys in the districts of Marracuene and Manhiça, in Mozambique’s Maputo province in 2017.

This analysis will encompass an area of 9 000 km² and cost $70 million. Well tests are to be used to determine if there are hydrocarbons in the Palmeira area of ​​southern Mozambique and the outcomes are encouraging, more investment may be prepared to point out the volume of gas or oil present.

According to the Research director of the National Oil Institute (INP), Augusto Mucavele, it is a large research area because the level of geological knowledge of the area is very limited and requires studies to be performed from scratch.

The Palmeira area is amongst a set of six recent blocks; two blocks in Angoche, two in the Zambezi Delta, and one in Pande and Temane, granted under the fifth international tender for hydrocarbon research in Mozambique.

Eni and ExxonMobil have already been chosen for two areas situated off the Angoche.

district of Nampula province, Macauhub reports.

However, for the two areas located in the Zambezi Delta, ExxonMobil was selected for the ​​Pande and Temane area, Sasol in Inhambane province while Delonex Energy and Indian Oil Corporation were given the Palmeiras.

Sudan Gives Directives for Using Modern Technology to Increase Oil Production

0

Sudan’s first Vice-President of the Republic Lt-Gen, Bakri Hassan Salih; directed Ministry of Oil to focus on productive activities that help in increasing oil production through using modern technologies.

This came in his meeting, recently, in his office at Council of Ministers with the Minister of Oil, Dr. Mohamed Zayed Awad, who said in statement to SUNA that he briefed the First Vice-President on progress of negotiations on some blocks whose contracts will end during the coming months, indicating that the First Vice-President directed to maximize the government’s stake, as such blocks have more that billion barrels.

Dr. Zayed, said that he informed the First Vice-President on outcome of his participation in the International Forum on Energy which was held at the end of last September in Algeria, pointing out that the outcome of the meetings had positive result in enhancing oil prices internationally.

PGS Improves Imaging Capabilities

0

PGS has further strengthened one of the most powerful computer platforms in the oil service industry, by adding another Cray XC supercomputer to its Houston Mega Center.

This allows PGS to take larger jobs, image more complex data, while at the same time reduce lead time and get higher quality results. Customers can take advantage of cutting-edge imaging algorithms such as PGS Reverse Time Migration, Separated Wavefield Imaging (SWIM®), and Wave Equation Reflectivity Inversion while at the same time reducing project duration in comparison to competitors.

“We are very pleased to see the advances achieved by implementing the PGS advanced Imaging algorithms and workflows using the Cray supercomputers,” says Guillaume Cambois, Executive Vice President for Imaging & Engineering in PGS.  Who added that “adding this second Cray XC system to our computer resources further raises our capability to solve our customers’ geophysical imaging challenges faster, and more accurately.”

The computer is named PGS Galois after the French mathematician Évariste Galois (1811-1832), and comes in addition to the Cray XC supercomputer PGS Abel delivered last year.

Expanding its supercomputing platform allows PGS to continue to innovate and increase the Company’s ability to further build on its industry-leading imaging inversion capabilities.

“Today’s most advanced seismic survey datasets encompass many hundreds of terabytes, and gaining insight from this data lies squarely at the convergence of supercomputing and big data,’ said Barry Bolding, chief strategy officer at Cray.

“The Cray supercomputers allow PGS to quickly process this data into an accurate, clear image of what’s lying underneath the sea floor, through kilometers of varied geology. This is an extraordinarily complex computational challenge, and is where PGS excels. We’re thrilled PGS continues to rely on Cray supercomputers to power the next generation of seismic processing and imaging,” Bolding added.

Dresser-Rand compressors to handle OCTP gas offshore Ghana

0

Siemens’ Dresser-Rand business has won a contract to supply two compressor trains to an onshore gas reception facility in Ghana.

This will be supplied by non-associated gas from Eni’s Offshore Cape Three Points (OCTP) project: once onshore, the gas will undergo further compression for delivery into Ghana’s national network.

Eni Ghana commissioned the DATUM compressors, the first supplied by Dresser-Rand to be driven by a Siemens gas turbine.

The two compressors are expected to be delivered in September and October 2017 with the plants expected to be fully operational in February 2018.

The centrifugal compressors, model D10R8B, to be driven by Siemens SGT-400 gas turbines, will be manufactured in Le Havre, northern France, with Dresser-Rand’s Hengelo facility in the Netherlands coordinating engineering, packaging, and testing of the equipment.

Dangote Acquires Gas Processing Company in Netherlands

0

As part of moves to meet Nigeria’s energy demands, the management of Dangote Industries Limited has completed the acquisition of a gas company in Netherland.

According to the company in a statement, Twister BV, the company in question is a provider of robust solutions in natural gas processing and separation to the upstream and midstream oil and gas sector.

“This was an important acquisition for us. Twister’s cutting-edge gas processing technology is fundamental to delivering our strategy to unlock about three billion cubic feet per day of gas in order to meet Nigeria’s gas needs,” Aliko Dangote, President, Dangote Industries Limited, told CCTV Africa.

He added that Twister’s separation capabilities were intended to increase production and streamline processes in order to capitalize on high-yield gas processing to maximize revenues.

“The acquisition complements DIL’s portfolio of investments in the upstream, midstream and downstream segments of the oil and gas sector. The company will help design and build the gas plants, which will be critical in processing gas from oil fields for transportation via Dangote’s planned sub-sea pipeline for ultimate consumption by various industries and power plants,” Twister said.

Twister BV was formerly owned by Shell Technology Ventures Fund 1 before the acquisition by Dangote and its partner, First E&P. The company’s gas plants are inexpensive to construct and operate, and delivers enhanced performance levels. The company has customers in Nigeria, Malaysia and South America.

“We are delighted by the confidence that the DIL and First E&P have shown in Twister to be their core provider of gas separation solutions. After very thorough due diligence, our technology has been recognized as a key enabler to reduce gas project costs, which is crucial in the current environment; we are excited to be part of the Dangote family of companies,” John Young, Chief Executive Officer of Twister said.

Fury over Use of Oil Money

0

…as PIAC takes its reports to the districts

Professor Paul Kingsley Buah-Bassuah, Chairman of PIAC
Professor Paul Kingsley Buah-Bassuah, Chairman of PIAC

A composite report on government’s management and use of the country’s petroleum revenues, currently being disseminated in 60 districts across the country, is generating serious concerns, with some participants suggesting that, Ghana is likely to fall into the resource curse trap if the trend continues.

According to the report put together by the Public Interest and Accountability Committee, Ghana has between 2011 and 2015 produced about 162 million barrels of oil, translating into some US$3.2 billion dollars.

The report says that, government has so far complied with the law, regarding the allocation of the revenues among the Ghana National Petroleum Corporation (GNPC), the Annual Budget Funding Amount (ABFA), the Ghana Stabilisation Fund (GSF), and the Heritage Fund (GHF).

Over the period (2011 – 2015) the allocations to these categories have amounted to GHCUS$968.8million to the GNPC, US$1.43 billion to the ABFA; US$604.35 to the GSF; and US$249.92 million to the GHF.

The allocations to GNPC, being 30 percent (revised downwards from 40 percent in the 2015 budget) is to finance the company’s expenditures in respect of cash-calls on the country’s 13.64 percent Carried and Participating interest in the Jubilee Field. What goes to the Stabilization Fund (currently capped atUS$150 million (revised downwards from US$250 million) is intended to help manage the volatility effect of petroleum price fluctuations on the budget. The allocation to the Heritage Fund is in recognition of the interest of future generations in the country’s oil-wealth and meant to create a capital inheritance for them.

The PIAC presentation at the ongoing public forums at the district level provide an overview of oil revenues, but tend to focus more on the ABFA (70 percent of what is left after GNPC’s allocation has been taken care of) and how it has so far been utilised. The report says the expenditure has been in four main categories (as prescribed by the law), namely Agriculture modernisation, Roads and other infrastructure, Amortisation of loans contracted for oil and gas-related activities; and Capacity building.

The PIAC Forum gathered over 70 stakeholders from the six coastal Districts of the Western Region to deliberate on how Ghana’s petroleum revenues have been managed since 2011
The PIAC Forum gathered over 70 stakeholders from the six coastal Districts of the Western Region to deliberate on how Ghana’s petroleum revenues have been managed since 2011

A breakdown of the expenditures in these areas for the period 2011 – 2015 shows that over the period,GHC2,995,757,256 has been allocated to the ABFA, of which GHC329,392,159 has gone into Agriculture Modernisation, GHC1,531,157,925 has gone into Roads and other infrastructure;GHC860,239,783 into Amortisation of loans; and GHC274,967,389 into Capacity building.

What appears to have caused the greatest concern is the thinly spread of the detailed expenditures, and how the Capacity building category has enveloped all manner of expenditures that nominally, can hardly qualify as capacity building. For instance, the report says in 2012 an amount GHC2 million was disbursed to the creative arts industry. Specifically, the amount was paid to the Musicians Association of Ghana.

While PIAC concedes that the development of the creative arts industry deserves attention, it expresses reservation as to whether the expenditure can qualify as a prudent use of the petroleum revenues.

Other 2012 expenditures under Capacity building which equally raised eyebrows are: Skills training in road maintenance – GHC4.1 million; National Youth Authority – GHC445,300; Training of 5000 people with disability in ICT – GHC10 million; Livelihood Enhancement Against Poverty – GHC8.1 million; MASLOC loan-able funds – GHC35 million; Ghana Living Standards Survey – GHC5.4 million.

In 2013, again, under Capacity building, GHC10 million was disbursed to the Venture Capital Fund;GHC2 million to the EXIM Guarantee Fund; GHC45.1 million to improve capacity at primary and secondary schools; GHC556,655 for printing and transportation of stationery to seven regions, among others.

In 2015, the expenditure areas under Capacity building covered School feeding programme, payment of BECE subsidy, Capitation grant; supply of school uniforms in four regions, SHS subsidy and implementation of progressively free SHS.

The education sector expenditures, captured under Capacity building, are in addition to substantial expenditure on education-related infrastructure totaling GHC70.2 million. This revelation caused some participants to question whether or not the Ministry of Education was allocated any budget for the period or not; and what the Ministry did with its budget. It would appear that without such analysis, petroleum revenues may end up replacing tax-funded projects rather than adding on, a situation which the Chairman of the Civil Society Platform on Oil and Gas, Dr. Steve Manteaw contends will undermine the potential impact of oil revenues on the country’s development.

Other concerns being expressed from across the districts, where these consultations are ongoing, have to do with the use of GHC3.6 million for the controversial bus re-branding exercise. At the Kwaebibirem district forum, a 72 year old farmer, Ama Akyaa Konadu of Kade, questioned the wisdom in using such huge amount on the branding exercise, when more buses could have bought with it, and would have helped to ease the stress on public transportation.

The Public Interest and Accountability Committee (PIAC), is a statutory oversight body established by  the Petroleum Revenue Management Act, 2011, Act 815 (as amended), to monitor compliance with the law; provide platform for public debate on government’s management of petroleum revenues; and to undertake independent assessment of the management and use of petroleum revenues.

Its membership is drawn from professional groups such as the Ghana Bar association, Ghana Journalists Association, Ghana Institute of Chartered Accountants, Ghana Academy of Arts and Sciences, think tanks, Trades Union Congress of Ghana, Ghana extractive Industries Transparency Initiative, CSOs and CBOs, National House of Chiefs, Association of Queen Mothers and faith-based groups (Christians and Muslim).

Oil and Politics: What Do Ghana’s Political Parties Have To Offer?

0

As Ghana’s Presidential and Parliamentary elections draws closer, players in the oil and gas industry have started interrogating the manifestoes of the two main political parties, the National Democratic Congress (NDC) and the New Patriotic Party (NPP), for their policy direction for the industry.

 

NPP manifesto

The New Patriotic Party (NPP) in its manifesto said it is committed to a transparent, accountable and efficient management of the country’s petroleum resources for the benefit of all Ghanaians.

Under the party’s petroleum revenue management ambition, the NPP said “Between 2017 and 2020, primarily allocate revenue from oil to infrastructure, health, education and agriculture; leverage oil revenue to complete the Accra-Kumasi-Paga rail line; connections and the rehabilitation of the Western and Eastern Rail Lines; and to manage and use the revenue from the Jubilee, as well as from the TEN and SANKOFA fields, in a responsible and transparent manner”.

 

The NDC manifesto

The National Democratic Congress (NDC), the ruling government, in its manifesto indicated that “Ghana’s oil and gas sector has been significantly transformed under the NDC Government. Relevant laws have been promulgated to promote and regulate activities in the industry. These laws have created a transparent oil and gas production and management regime”.

The NDC is promising to among other things to “Construct a new and bigger Liquefied Petroleum Gas (LPG) pipeline to the jetty at Tema for more efficient discharge, storage and distribution of LPG; construct a second and bigger Single Point Mooring for petroleum products to ensure greater efficiency in the delivery of petroleum products into the country and to also make Ghana the petroleum hub for the sub-region; build a Liquified Natural Gas (LNG) infrastructure to ensure continuous supply of natural gas to power plants”.

Despite these provisions in the manifestoes of the two major political parties, oil and gas industry watchers are of the opinion that these provisions are not enough and do not represent a clear and comprehensive policy direction.

According to Samuel Bekoe, Africa Regional Associate of the Natural Resource Governance Institute, “The manifestoes have alluded to how they are going to use oil money but they are all general and vague. It does not really point to targets or specific issues. Because we are guided by law, the oil money will always be used on certain sectors until we have a long term national development plan. Different governments have different priority areas and this eventually affects how the oil money is spent”.

Currently Ghana’s oil revenue contributes only about 5% to the country’s GDP.

For Major (Rtd) Daniel Ablorh-Quarcoo, Former Chairman, Public Interest and Accountability Committee (PIAC), the 5% contribution of the oil and gas to the country’s GDP explains why politicians will not overly focus on the sector as against the other 95% out there.

He however pointed out that, “There is no clear policy direction as to what direction Ghana want to take its oil and gas industry. But I must confess that I have not taken the time to study the manifestoes of the political parties. So I don’t want to make a sweeping statement that their manifestos do not address these policy issues”.

Major (Rtd) Abloorh-Quarcoo, observed that the intention of the country’s Petroleum Revenue Management Act is that oil resources and revenue must make an impact in society but unfortunately that is not the case now.

In many of its reports, PIAC has accused government for spending on things that are not really the priority of the citizens.

“In most of the districts workshops that we organized, we got a lot of feedback from the people. And I really wish and hope that PIAC report for September, which is on the year 2015, will come out and be food for journalist to discuss. That will be a good platform to set the agenda for this year’s elections issues.

But at least if for nothing at all, I expect political parties who are competing for the mandate of the people to come clean on how they intend to use the oil revenue”.

Ghana’s Petroleum Revenue Management Act requires that the government should select four priority areas among the twelve areas identify for development.

“What we have seen in the past, is that under capacity building, everything is included in there. It has become an omnibus clause for mismanagement. It does not really fit.

If you look at the past six years our oil revenue amounted to about US$3billion plus, but we have not managed it well.

So far the construction of the Atuabo Gas Processing Plant is the only major thing that came out of our oil revenue. The rest if you ask me I don’t know. It has been a litany of we have done that and we have done this without being able to lay your hands on anything specifically. At least one third have been accounted for successfully with the two thirds clearly lost in the pool.

This is one reason why we have to support the National Development Plan and hope that all the political parties strictly adhere to it when it becomes operational”.

On his part, Mr. Samuel Bekoe, noted that Ghana has to look at what we want to achieve with the extractive sector in the medium to long term plan and aggressively pursue it because the oil resources are finite.

He advocated that Ghana can use the oil money to support the other sectors of the country’s economy such as agriculture. “Take cocoa for example; Ghana is now the third largest exporter of cocoa in the world. Is cocoa production and process our absolute advantage, I will say yes. So why don’t we process our cocoa beans into paste before we export. So the vision will be that 50% percent of the oil money goes to support local people or local companies that build factories to process the cocoa beans before they export.

So in ten years when we access ourselves, we would have used oil money to diversify a major part of the economy. People will no longer be reliant on oil and gas but cocoa as well”.

 

Downstream expectations

For Duncan Amoah,Executive Secretary, Chamber of Petroleum Consumers Ghana(COPECGH), they are very interested to know the position of the political parties on how to manage the numerous taxes on petroleum products.

“Some will just say at the altar of political campaigning that when they come they will reduce taxes and so forth, but we would want to hear a clear strategy that explains that if I reduce taxes by A or B this is how I am going to raise same or some amount of money from C or D to be able to shore up the differences in revenue mobilization drive”, Mr. Amoah pointed out.

To him, COPECGH is very worried about the tax component of deregulation, explaining that, “The ex-refinery price is currently around GHS1.64-1.70. The tax component alone is GHS1.50 there about, almost the same as the ex-refinery price. The consumer is suffering.

With high taxes on petroleum, the moment crude oil prices start going up on the international market, government will continue to rake in more, while the consumer is expected to pay more. Because it is deregulated market governments, do not set prices anymore for OMCs. It means that those of us at the end of the triangular chain, the consuming public, not only disadvantaged but sitting on tenterhook in that you wake up one morning and pump prices are going up, you ask for a reason and they tell you world markets prices have gone up.

They have gone up because when you bring the crude products into the country, after paying the excise duty, road fund and all the others, government still charges you with 17.5 SPD. And because it is a variant tax, the moment world market prices goes up, the quantum or amount of that tax also goes up. There is a correlation effect and that has negative effect on the consuming public”.

According to him, there is still the stabilization margin in the price build up for petroleum products, meanwhile, under deregulations government is not paying any such difference margins to the service providers because government cannot pay for any under recoveries.

He said so whether OMCs or BDCs make gains or losses that is their own headache, and therefore queried what government is using the stabilization fund for?

Mr. Amoah pointed out that political parties are contesting for power to give the citizenry better living condition and therefore “We want all political parties to come out clearly to tell us how they intend to address this major concern”.

 

Lack of Capacity Still Constrains Local Content in Ghana – AGI

0

The Association of Ghana Industries (AGI) has cited the lack of capacity building as one major constraint to local content in Ghana.

After almost three years since the passage of the Petroleum Local content law, Ghanaian companies are yet to actively participate in the oil and gas sector.

“There are certain areas that due to the nature of they being technical or capital intensive make it difficult for local companies to meet up with competition. The situation is also attributed to the nature of the lack of enough expertise on the part of the local entities,” CEO of the AGI, Seth Twum Akwaboah told Citi Business News.

A latest report by the Petroleum Commission has shown that total volume of oil contracts amounted to 6.3 billion dollars between 2010 and 2015.

Of this, local components amounted to 1 billion dollars, compared to 5.3 billion dollars that went to foreign companies.

This also comes on the back of concerns that local companies totaled 300 while foreign companies totaled 150.

Meanwhile Seth Twum Akwaboah is convinced the intervention by the Petroleum Commission to ensure companies in the petroleum sector comply with the law, should assist local companies leverage  opportunities with their foreign counterparts.

“But I think what the Petroleum Commission is doing is that when you submit your local content plan, they monitor and ensure that you have a clear plan of gradually transferring knowledge, expertise or information to local people so that they can come up,” he stated.

The comments by Seth Twum Akwaboah come ahead of a two day conference by the AGI scheduled for October 26 and 27, 2016.

This year’s summit is themed, “Local Content Development in Ghana, the Journey so far”.

Key highlights will involve conferences that center on oil and gas, mining, energy and building and construction.

As Iran Oil Tenders Near, Investors Still In the Dark On Terms

0

Two years after Iran pledged to open up its oil industry in anticipation of the lifting of sanctions, foreign companies say they still have little information about Iranian oil fields and contract terms, hindering investment decisions.

Bosses from oil majors including BP, Total, Eni, Royal Dutch Shell and LUKOIL have all travelled to Tehran this year since the EU sanctions ended in January. Their teams spent weeks meeting local officials ahead of investment tenders due to start next month.

But several senior executives and members of their negotiating teams told Reuters they still had not been given sufficient information about the geology of Iranian fields or contract terms. The people, who were not speaking from Iran, said they were also unclear about how quickly they would be able to recoup their investment and who they could partner with locally.

While foreign companies are eager to enter Iran, which sits on a tenth of the world’s oil reserves, they are also wary of any contract terms that may lead to them falling foul of remaining U.S. sanctions.

BP Chief Executive Bob Dudley, whose company is seeking deals to develop several fields, said he did not know the details of any potential contracts yet.

“Iran is a large oil and gas province … but we don’t have any specific contracts right now,” Dudley said last week. “We’re going to have to be very careful. We don’t want to violate any sanction,” he added.

If this lack of clarity leads to companies withholding investment in the tenders or investing elsewhere, it could undermine the plans of Iran’s reformist President Hassan Rouhani to attract up to $185 billion from oil majors into 50 projects and increase Iranian output to 5-6 million barrels per day (b/d) from less than 4 million now.

This could deprive the country of much-needed income as it seeks to recover from years of sanctions which hammered its economy.

The competition for foreign investment between oil-producing nations has intensified over the past five years due to abundant discoveries of new energy reserves in countries such as Brazil and the United States.

Political infighting in Tehran has clouded the outlook for Iran’s energy sector. Hardline rivals of Rouhani have strongly opposed giving overseas firms control of oil fields, saying this contradicts the constitution which states that natural resource reserves cannot be owned by foreigners. The government says its opponents are impeding an economic recovery.

Some oil executives looking to invest in Iran said they were also unclear about whether deals would require parliamentary approval, a concern in a country with a complex and opaque system of clerical and republican rule where power is wielded by both elected and unelected officials.

With presidential elections due in May, there has been growing opposition to Rouhani and his allies this year from hardliners close to Supreme Leader Ayatollah Ali Khamenei and the Revolutionary Guards, Iran’s politically powerful elite military force.

Tensions between the two camps have sporadically spilt into the open, including a speech from Vice President Eshaq Jahangiri denouncing the government’s critics at a major oil industry conference in Tehran this week.

“You see how some neighbours have developed in recent years. For example, Iraq managed to bring its production above 4 million b/d. We should not let the country lag behind because of irresponsible people,” he told senior Iranian oil officials and representatives of oil majors.

RESHUFFLES
There have been several management reshuffles this year at the National Iranian Oil Company (NIOC), which is based in one of the oldest buildings in the capital.

“You go to Tehran and discover that the team that you have been talking to has completely changed,” said a Western consultant working with a foreign major in talks with the state oil company.

The reshuffles delayed by many months the approval of the new model of contracts with foreign companies, called Iranian Petroleum Contracts (IPC).

Iranian officials have said IPCs will be more profitable for investors than the buy-back contracts of the 1990s – the last time foreign firms were allowed to invest in Iranian fields – where companies recouped money via exports of oil and petroleum products.

Companies such as Total and Eni have said they lost money on Iranian buy-back deals in the past and have called on Tehran to adopt IPCs for the past two years. In August, Rouhani’s government finally approved the new contract model, saying it would usher a new era of investments into its oil fields, containing 157 billion barrels of reserves.

However two months later, oil companies negotiating with Iran are still in the dark about the exact terms of new contracts, as well as if any deals need parliamentary clearance.

“I don’t think anybody will go and sign a contract without parliament’s approval. How do you guarantee that the contract is real if there is no parliamentary approval in a country that works on the basis of a parliament,” said an executive from an oil major that is negotiating a deal with Iran.

 

PARTNERS

When asked about the lack of clarity around contracts, the head of NIOC Ali Kardor said this week that IPCs did exist and that companies would receive them when participating in tenders. He declined to comment further on the subject.

He said his ministry would hold the country’s first tender, for the South Azadegan oil field, on Nov. 19 and then would tender one field every month for the next 11 months.

Potential Western investors say they have yet to see documentation for South Azadegan or any other field detailing its reserves or work they be required to do.

An executive from an oil major said: “What we have seen so far is only a framework of the IPC. Fees, terms are not clear. Iranian officials say that these issues will be negotiated between foreign companies and NIOC.”

An executive from another major said brief details had emerged in recent weeks, with Iranian officials telling potential investors they would be repaid over the course of many years – an unwelcome contrast with Iraq where repayments are being made almost as soon as investments are done.

The requirements to team up with local partners are also still to be clarified.

“IOCs (international oil companies) will be steering the projects and Iranian companies will cooperate with them. In some fields, Iranian companies will steer the project,” Kardor said at the industry conference.

His deputy Gholamreza Manouchehri later told a news conference at the NIOC headquarters that Iran had cleared 11 local firms to take part in tenders.

Huge projects would likely be led by Western oil companies, while smaller one would likely be led by local firms, he said, speaking in English, aiming to specifically address the international media.

Recently, NIOC signed its first IPC with Persia Oil & Gas, an Iranian firm identified by Washington as part of Setad – a conglomerate controlled by Ayatollah Khamenei.

“The establishment wanted to calm down hardliners but also it made clear who is in charge of Iran’s oil and gas industry – the hardliners and the IRGC (Revolutionary Guards),” said Tehran-based political analyst Hamid Farahvashian.

“They don’t want to lose their control over Iran’s energy sector and any foreign company that wants to get involved in this sector has to deal with them.”

Ivory Coast to Organize Debt Relief For State Oil Refinery

0

In Ivory Coast, the Government has revealed plans to organize debt relief for state oil refinery, Societe Ivoirienne de Rafinage (SIR), through public and private funds.

SIR is the biggest refinery in the West Africa Country and has amassed debts worth hundreds of millions of dollars since 2008.

According to the government spokesman, Bruno Nabagne Kone, the government is in talks with private institutions to help finance the debt.“The amount will correspond to the financial need,” he said.

SIR provides Ivory Coast with almost all its petroleum products needs and also supplies neighboring countries. Nigeria is its main supplier of crude oil and its main buyer of refined products.

Kone added that refinery’s yearly output is currently at 3.4 million tonnes, from the 3.142 million tonnes recorded in 2012, and operating income reached $60 million in 2015, compared to $32 million in 2012, Reuters report.

Ivory Coast’s economy increased very fast ever since the period of political disorder ended in 2011. The government has said that putting the energy sector on a steady ground is crucial to the country’s future growth.