Petronic Offshore Development Company(PODC)

22/02/2014

*Phase 12 of South Pars to Start Operation Next Month*

Phase 12 of the massive South Pars gas field is expected to start sour gas production next month.

Development of this phase of South Pars is 92.6 percent completed and its sour gas will be delivered to its refinery for processing.

Before the start of cold season in Iran, this phase will start producing 500 mcf/d of gas to be injected into national pipeline. The single-point mooring (SPM) of Phase 12 has been installed and its Platform A is close to coming on-stream. From its twelve wells, the field is expected to deliver one billion cubic feet a day of gas onshore.

This output will start with 13 mcm/d and will reach its maximum capacity in two months.

After platforms B and C have become operational in Phase 12 of South Pars, the production from this phase will soar to 70 mcm/d.

Phase 12 of South Pars is planned to produce 75 mcm/d of rich gas for delivery to national pipeline and liquefied natural gas (LNG) production plants.

The national pipeline will receive 25 mcm/d of gas with the rest going to LNG plants.
This phase is also forecasted to produce 120,000 b/d of gas condensate and 750 tons a day of sulfur.

10/01/2014

*Iran’s Oil Industry Seeking Foreign Investment*

An Iranian deputy minister of petroleum has said that administration of Hassan Rouhani welcomes Japanese and European firms’ investment in Iran’s oil industry.

Speaking to Yomiuri Shimbun, Ali Majedi said that the administration of Iranian President Hassan Rouhani plans to expand involvement by Japanese and European firms in the country’s oil and natural gas development projects.

To encourage their entry, Iran will make a sweeping review of its contractual procedures and consider increasing the share of profits that go to foreign investors, said Ali Majedi, an Iranian deputy oil minister for international affairs and trade. The move is set to mark a turning point for Iran’s global trade policy amid rising expectations for the relaxation of economic sanctions now that the country has reached a first-phase agreement with the United States and other countries on its nuclear development, observers said.

According to the deputy oil minister and other Iranian government officials, Rouhani directed the Ministry of Petroleum after taking office in August to establish a committee for revision of crude oil contracts consisting of officials from the ministry, the National Iranian Oil Company and external organizations.

10/01/2014

07/01/2014

* Iran to Introduce New Oil Contracts in London*

Iran’s Petroleum Ministry plans to hold a conference in London in March 2014 in order to introduce revised oil contracts structure, the head of ministerial committee for oil contracts revision said.

Mehdi Hosseini said the revision of oil contracts and removal of such obstacles as international sanctions are expected to persuade international oil companies to return to Iran’s energy sector.

He said enhanced oil recovery and transfer of the state-of-the-art technology will constitute the most important parameters in revising the oil contracts.
“We are benefitting from all experiences of the past in order to improve the structure of oil contracts while taking into account mutual benefits,” he added.

Hosseini earlier said that Iran is removing obstacles to investment in order to facilitate international investment in the country within the framework of national interest.
He said Iran shifted from production sharing contracts (PSCs) to service contracts in 1974 when the country adopted a Petroleum Law.
In 1987, Iran’s parliament revised the Petroleum Law and finally buy-back contracts were defined.

Iran first signed buy-back deals in the 1990s when the country was still reeling from the destructive impacts of Iraqi war (1980-1988).

Hosseini said buy-back deals brought Iran’s oil production capacity to more than four million barrels a day and attracted tens of billions of dollars of investment in the oil and gas sectors.

04/11/2013

Fishing lol ;-)

04/11/2013

3000 additional staff by mid 2016!

Maersk Drilling's new drillship Maersk Viking. This is their first drillship, with another 3 drillships currently under construction in South Korea. Maersk already have 5 semi sub's drilling along with 16 Jack up's already in action. They have an accelerated growth plan in place that will see them hire approx 3000 additional staff by mid 2016!

02/10/2013

Ekofisk complex some big seas coming through ;-)

15/09/2013

OPEC appoints head of top research post over

According to public relations of Iranian Offshore Engineering and Construction Company, OPEC has appointed a Saudi Arabian candidate as its head of research over an Iranian, OPEC delegates told following a meeting at the organization's headquarters in Vienna.
Saudi Aramco's Omar Abdulhamid was appointed as the head of research, the second most senior post at OPEC after the secretary general, replacing Kuwait's Hasan Qabazard.
The other candidate was Iran's Hojatollah Ghanimifard. Delegates said that Abdulhamid was personally recommended by OPEC Secretary General Abdullah al-Badri.
The move may stir tension between Saudi Arabia and Iran over the deadlock in electing a new secretary general, OPEC's top administrative post and an issue that has been unresolved since last year, an OPEC delegate said.
"Having a Saudi candidate take OPEC's research post, which is the second most important role in the group, might cause Iran to say that the secretary general can't be Saudi," said the delegate.
The secretary general is the main representative on the world stage of the producer group, helps formulate its output policy and is in charge of OPEC's Vienna secretariat.
OPEC's panel who met in Vienna over the weekend, consisting of OPEC governors - officials who represent their countries on the board of governors - is only deciding criteria for the postholder. Oil ministers will then have the tough task of appointing a candidate.
Delegates who attended the conference said that they had agreed on the criteria; however some of the recommendations that were made from Iran such as mandatory government experience were not included.
OPEC delegates say that for now, the three candidates are still Saudi Arabia's OPEC governor, Majid Al-Moneef; Thamir Ghadhban, energy adviser to Iraq's prime minister; and former Iranian oil minister Gholam Hossein Nozari.
This could change, say OPEC delegates, once the issue goes before OPEC oil ministers at the group's May 31 meeting in Vienna, where they will also decide OPEC's output policy for the second half of 2013.
Some delegates believe that another compromise is needed to break the deadlock. "I can't imagine that Saudi or Iran will win, a compromise must be reached with another country nominating a candidate," said an OPEC delegate.

15/09/2013

New reserves of shale oil have been discovered in Iran’s western Lorestan province, Hormoz Qalavand the head of exploration at the National Iranian Oil Company (NIOC) announced on today.

However, there is no plan to conduct exploration operations in this regard.

According to public relations of Iranian Offshore Engineering and Construction Company quoted from the mehr, NIOC and Norway’s Statoil Hydro signed a deal, worth $50 million, in 2006 for conducting seismic operations. Analyzing data from the operations shows that large amounts of shale oil exist in the region.

In April, Qalavand said that Iran plans to start looking for shale oil and gas this year near its border with Iraq.

Qalavand said that NIOC is focusing its exploration activities on border areas, adding that the country had found a total number of 15 new oil and gas layers last year.

Iran is already an oil and gas exporter but is struggling to sell as much as its vast conventional reserves should allow due to Western sanctions on its energy industry imposed over its disputed nuclear program.

Shale oil and gas projects are typically more expensive than conventional projects but can be attractive to countries that currently rely on imported fuels.
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29/06/2013

Indonesia offers 21 oil and gas blocks in tender:

According to public relations of Iranian Offshore Engineering and Construction Company quoted from the Shana, Indonesia opened a rights tender for 21 oil and gas exploration blocks on Friday, two of which are for unconventional gas concessions on the islands of Borneo and Sumatra, as Southeast Asia's largest economy moves to shore up its energy security.
Besides two shale gas blocks, the tender includes 17 offshore blocks that are mostly in the eastern half of the archipelago, according to a release from the Energy and Mineral Resources Ministry.
Indonesia is struggling to reverse declining oil and gas output to meet expanding energy needs amid uncertainty over regulatory and other issues that have put off investors in the sector.
The areas being offered are estimated to contain up to 3.1 billion barrels of oil and 57.6 trillion cubic feet of gas, according to Edy Hermantoro, the ministry's director general of oil and gas.
The first round of bidding on the blocks is scheduled to begin in mid-June.
Most of the offshore blocks will require overseas investors to carry out exploration, Lukman Mahfoedz, Indonesia Petroleum Association (IPA) president told Reuters during an interview last month.
"The national companies cannot cover the risks in the deepwater drilling in eastern Indonesia, where one well costs $200 million," Lukman said.
Those blocks would require the participation of international oil companies, he said.
One of the shale gas blocks is on Sumatra Island, and the other in Kalimantan.
State oil and gas company Pertamina this week signed a 30-year contract on Indonesia's first shale gas concession that it said may lead to $8 billion in development costs - although it also said it would need to tap into the expertise of Canada's Talisman Energy to exploit the unconventional resource.
Indonesia's oil output has fallen to around 830,000 barrels a day, nearly half of levels seen in the 1990s. Its gas output dropped to about 8.2 billion cubic feet a day last year, down about 12 percent from 2010.