Falklands : HYDROCARBONS WEEK (Focus on the South-West Atlantic)
Submitted by Falkland Islands News Network (Juanita Brock) 11.12.2007 (Article Archived on 25.12.2007)
December's hydrocarbons news will not come daily. This is due to the festive season.
Since last reporting crude prices have eased due to decreasing demand and warmer weather in the United States. Even though OPEC have decided not to increase production there has been a slip in prices as people are taking advantage of alternative energy and winter warmth.
HYDROCARBONS WEEK
(Focus on the South-West Atlantic)
Compiled by J. Brock (FINN)
ANALYSIS:
Since last reporting crude prices have eased due to decreasing demand and warmer weather in the United States. Even though OPEC have decided not to increase production there has been a slip in prices as people are taking advantage of alternative energy and winter warmth.
With KERO prices in the Falklands at 55p per litre people here are thankful for summer weather but not satisfied with having to spend ever increasing percentages of their household budgets on fuel and electricity. Price increases attributed to increased crude prices can be found on everything from baked beans to spare parts and there are people who clearly cannot afford to buy normal quantities of basics like coffee, sugar, margarine and other processed goods. Fresh vegetable prices have also gone up exponentially – all due to increasing prices for hydrocarbons products.
Many Islanders with garden space are putting it to good use this summer and people are preserving their vegetables and fruit for use during the winter. This, along with increasing use of the wind farm has helped to ease some prices and decrease demand.
MONDAY’S INTERNATIONAL DEVELOPMENTS:
(United Kingdom)
HMG have set out new wind-energy plans and announced on Monday that new offshore wind turbines could power every home in Britain by 2020. Speaking at a European energy industry conference in Berlin, Business Secretary, John Hutton, has proposed the creation of up to 33 gig-watts of offshore wind energy and called for companies to invest in large-scale farm development to generate enough power for up to 25m homes in the next 12 years.
(Belarus and Venezuela)
An article published in the government’s gazette says that PDVSA, has joined with Belarus state-run company Belorusneft, forming a joint-venture company to explore and develop oil and natural gas in Venezuela. This is one of several joint ventures between the two nations. The new company's activities will focus on fields located in the Guara Este area in Venezuela’s Anzoategui state, as well as the Lake Maracaibo fields located in Western Venezuela. PDVSA will control 60% of the company and Belorusneft would own 40%.
(100X Translation Service)
MONDAY’S REGIONAL DEVELOPMENTS:
(Argentina and Bolivia)
Repsol YPF’s website reports that the Company has made a gas discovery at Caipipendi – Bolivia. A natural gas discovery is located at the Caipipendi block's Huacaya-X1 field in Bolivia's Chuquisaca Province.
Speculation in both the UK and Latin American Press says that Spanish oil company Repsol YPF could sell a 25 percent stake in its Argentine unit YPF early next year for about $3.5 billion to Argentine businessman Enrique Eskenazi.
LOCAL DEVELOPMENTS:
Seismic surveys continue in waters around the Falklands with speculation that if a rig becomes available it could be transported to the area and immediately put to use. Desire Petroleum is awaiting news that a rig will be available but as yet no one knows where this rig is coming from.
DESIRE PETROLEUM PLC
SEISMIC SURVEY INFORMATION NOTICE
Desire Petroleum plc will commence acquiring 2D seismic data in the North Falklands Basin during the week beginning 26 November 2007. The survey will be undertaken by the seismic survey vessel "Bergen Surveyor," radio call sign (LIMA ALPHA CHARLIE SIERRA FIVE). Depending on prevailing weather conditions the entire data acquisition is expected to take about I0 days to complete. The seismic data will be acquired at specific locations. The acquisition priority listing and the well site coordinates are as set out below:
l. Ann Prospect Site Survey
Digital data will be acquired over a 4km x 4ktn area. The survey grid area is centered on Latitude 49.23’ 52.26S and Longitude 059.22' 3 1.5 l W
2. Tie-line Site Survey
Digital data will be acquired along a single tie line incorporating the following waypoints:
Point Latitude Longitude
Well 14/09-l 49.19 09.548 S 059.23 05.527 W
Ann A 49.23 52.260 S 059.22 31.520W
Ann B 49.27 46.316 S 059.22 30.935 W
Orca South 49.32 38.620 S 059.22 05.523 W
3. Alpha Prospect Site Survey
Digital Data will be acquired over a 3km x 3km area. The survey grid is centered on Latitude 50.15’ 29.10S and Longitude 59.09’ 53.09W
4. Dawn Prospect Site Survey
Digital Data will be acquired over a 3km x 3km area. The survey grid is centered on Latitude 50.02’ 50.16S and Longitude 59.08’ 47.67W
5. Barbara Prospect Site Survey
Digital Data will be acquired over a 3km x 3km area. The survey grid is centered on Latitude 50.40’ 51.36S and Longitude 49.06’ 53.29W
6. Ruth Prospect Site Survey
Digital Data will be acquired over a 3km x 3km area. The survey grid is centered on Latitude 50.28’ 10.87S and Longitude 58.57’ 47.74W
From time to time or for operational reasons the survey vessel may maneuver beyond the above locations.
The BERGEN SURVEYOR will be towing a single 1500 metre streamer submerged to a depth of around 3 metres. The end streamer will be marked by a floating buoy fitted with a white light. The vessel has a red painted hull and a beige painted superstructure.
The BERGEN SURVEYOR is to be given a wide berth by all other vessels. Vessels shall not pass within 2000 metres astern or 500 metres abeam or forward of the BERGEN SURVEYOR. Security messages will be broadcast twice daily by the BERGEN SURVEYOR at 0930hrs and 2130hrs LMT on HF frequency 4066.1 kHz. Fishing vessels working in the vicinity of the survey area should maintain a good listening watch on VHF Channel 16 at all times.
Lewis Clifton, Fisheries Liaison Officer
ROCKHOPPER EXPLORATION PLC
SEISMIC SURVEY INFORMATION NOTICE
Rockhopper Exploration Plc will acquire high resolution 2D seismic data in the North Falklands Basin during early December 2007. The survey will be undertaken by the seismic survey vessel, "Bergen Surveyor," radio call sign LACS5 (LIMA ALPHA CHARLIE SIERRA FIVE). Depending on prevailing weather conditions the entire data acquisition is expected to take about 3 - 4 days to complete.
Seismic data will be acquired over a 5km x 5km area of the Ernest Prospect. The survey grid area is centred on Latitude 50.18’ 16.00”S and Longitude 58.56’ 40.00”W
From time to time or for operational reasons the survey vessel may maneuver outside the survey grid area.
The BERGEN SURVEYOR will be towing a single 1500 metre streamer submerged to a depth of around 3 metres. The end streamer will be marked by a floating buoy fitted with a white light. The vessel has a red painted hull and a beige painted superstructure.
The BERGEN SURVEYOR is to be given a wide berth by all other vessels. Vessels shall not pass within 2000 metres astern or 500 metres abeam or forward of the BERGEN SURVEYOR. Security messages will be broadcast twice daily by the BERGEN SURVEYOR at 0930hrs and 2130hrs LMT on HF frequency 4066.1 kHz. Fishing vessels working in the vicinity of the survey area should maintain a good listening watch on VHF Channel 16 at all times.
Lewis Clifton, Fisheries Liaison Officer
SHARE PRICES: Monday, 10 December 2007
TLW: 655.50 down 4.50 DES: 26.50 up 0.75, FOGL: 127.00 down 2.50, RKH: 47.50 unchanged, BOR: 31.25 unchanged, PRE: 14.25 unchanged, GBP: 9.25 unchanged, GPK: 454.00 unchanged, BLT 1678.00 up 2.00, RDSA: 1991.00 down 28.00, RDSB: 1969.00 down 27.00, RDSD: 39.21 unchanged (Trading in Euros)
New York Stock Exchange:
XOM: 88.85 down 0.31 (Trading in USD)
Light Sweet Crude: $87.86 down 42 Cents
Brent Crude: $88.04 down 60 Cents
THE MARKETS (10/12)
FTSE100: 6565.40 up 10.46, FTSE 250: 10,60.30 down 2.63, SmallCap: 3,410.60 down 3.65
DJI: 13,727.03 up 101.45, NASDAQ: 2,718.95 up 12.79, S&P500: 1,515.96 up 11.30
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LAST WEEK’S STATISTICS:
SHARE PRICES: Monday, 03 December 2007
TLW: 651.50 down 19.50 DES: 23.50 unchanged, FOGL: 140.50 unchanged, RKH: 48.50 up 0.50, BOR: 30.00 down 0.50, PRE: 14.50 unchanged, GBP: 9.75 unchanged, GPK: 459.00 down 5.00, BLT 1577.00 down 30.00, RDSA: 1938.00 down 38.00, RDSB: 1922.00 down 30.00, RDSD: 39.21 unchanged (Trading in Euros)
New York Stock Exchange:
XOM: 88.85 down 0.31
Light Sweet Crude: $89.31 up 60 Cents
Brent Crude: $89.80 up $1.54
SHARE PRICES: Tuesday, 04 December 2007
TLW: 642.50 down 9.00 DES: 22.75 down 1.25, FOGL: 134.50 down 6.00, RKH: 48.50 down 0.50, BOR: 29.25 down 0.75, PRE: 14.50 unchanged, GBP: 9.50 down 0.25, GPK: 452.50 down 6.50, BLT 1563.00 down 14.00, RDSA: 1956.00 up 18.00, RDSB: 1937.00 up 13.00, RDSD: 39.21 unchanged (Trading in Euros)
New York Stock Exchange:
XOM: 88.12 down 0.73
Light Sweet Crude: $88.67 down 64 Cents
Brent Crude: $89.70 up 17 Cents
SHARE PRICES: Wednesday, 05 December 2007
TLW: 653.50 up 11.00 DES: 22.75 unchanged, FOGL:&n
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