Gulf Oil and Gas Newsletter Oct 2005

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Gulf Oil and Gas Newsletter Oct 2005 - 01

5/27/2007 11:31:32 AM

US_NL

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Gulf Oil and Gas Newsletter Oct 2005 - 01

	NEWS LETTER
	Volume 102005

Oil Market @ GulfOilandGas

World Oil Supply : Non-OPEC supply in 2005 is expected to average 50.41 mb/d, representing an increase of 0.61 mb/d over the previous year, following a downward revision of 0.12 mb/d to last month’s figures. Non OPEC supply (including OPEC NGLs and non-conventional oils) is expected to average increase of 0.8 mb/d over 2004. On a quarterly basis production for the second, third, and fourth quarters have been revised down by 47,000 b/d, 257,000 b/d and 173,000 b/d respectively; revisions to US production account for the bulk of the adjustments in the third and fourth quarter of 2005, but given the uncertainties related to the recovery of US Gulf of Mexico production post Katrina, this forecast is likely to be revised again in the coming months. More...

Middle East Highlights @ GulfOilandGas

Shell awards JGC/KBR team project management contract for Pearl GTL complex in Qatar
JGC Corporation and KBR, the engineering, construction and services subsidiary of Halliburton, announced that Qatar Shell GTL Limited, a Royal Dutch Shell plc subsidiary, has executed a letter of intent to award a project management contract for the Pearl Gas to Liquids (GTL) project in Ras Laffan, Qatar, to a joint venture between JGC and KBR. More...

Giant Rig Set for Gulf Gas Search
Saudi Aramco is expanding its drilling rig fleet by 100 percent over a two-year period, going from 55 in 2004 to a planned 110 in 2006. The increase is to meet plans to drill several hundred wells in the next several years, part of the ambitious expansion of the company's crude oil and gas program. This is the most aggressive ramp-up of drilling activity in the history of the oil industry. More...

Africa Highlights @ GulfOilandGas

Eni and Sonatrach set up new company Transmed SpA for the transport of Algerian gas
Eni and Algeria’s Sonatrach have set up Transmed S.p.A., new joint-owned company to commercialise additional natural gas capacity carried through pipelines owned by Transmediterranean Pipeline Company Ltd (TMPC). The creation of Transmed follows an agreement signed on 15 May between Eni and Sonatrach, which established the expansion of the Trans Tunisian Pipeline Company (TTPC) pipeline. More...

Equator Signs Contract with Dolphin Drilling to Drill and Exploration Wells Offshore Nigeria.
Equator Exploration Limited and its Nigerian partner, Peak Petroleum Industries Nigeria Limited, have signed a formal contract with Dolphin Drilling Company, a subsidiary of Fred Olsen Energy ASA, to take five well slots for the Bulford Dolphin semi- ubmersible rig. The Maersk Advancer, an offshore tug boat, has been commissioned by Equator and Peak from Maersk Supply Service to commence the towing of the Bulford Dolphin from the Gulf of Mexico to Port Harcourt, Nigeria. The Maersk Advancer arrived in Mexico today and the rig should embark for Nigeria this week. More...

Events @ GulfOilandGas

5th GTL Commercialization Conference & Exhibition 2005
GTLtec 05 scheduled on 28-29 November in Doha, Qatar – where GTL really happens!, promises first hand information on upcoming GTL projects and interaction with key industry leaders in the region and around the world. This major event is again supported by Qatar Petroleum and held under the patronage of His Excellency Abdullah Bin Hamad Al-Attiyah, Second Deputy Premier, The Minister of Energy and Industry.

Sand Control and Management Summit
Sand production remains a critical challenge in reservoir management and production operations. It can drastically affect production rates and cost the industry and your company billions of dollars annually. As exploration continues to push the boundaries of new reservoir environments, and existing fields grow ever more mature, the pressure to have an integrated sand strategy to protect your well’s integrity and increase recovery from your operations is higher than ever before.

Rotating Equipment 2005
No matter what your core industry, you are fully aware of today’s leaner workforces, tighter budgetary control and increased competitive influence. These pressures are set to increase over the short and long term, and the exposure to catastrophic failure risk is at an all time high.

World Oil Supply

World Oil Demand

Balance of Supply/Demand

www.gulfoilandgas.com

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