Exclusively Publishing 2012 International Bid Round Main Contract Terms And Conditions
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Kuwait Energy board meets in Egypt
Kuwait Energyâs board members met in Egypt in October to visit their sites and discuss further investments in the region. Kuwait Energyâs board hosted a dinner at Marriot Zamalek, to highlight the accomplishments and future forecasts of the Company, and took the opportunity to network with industry professionals in Egypt. Kuwait Energyâs Executive Chairman Dr. Manssour Aboukhamseen, Ms. Sara Akbar âthe Chief Executive OīŦcer, Mr. Mohammad Alhowqal â Chief of Operations and Mr. Harry Saul â President, Kuwait Energy Egypt, were among the Companyâs team that welcomed many renowned īŦgures from Egyptâs energy sector to the event, headed by Egyptian Oil Minister Mr. Osama Kamal. Dr. Manssour Aboukhamseen presented Kuwait Energyâs achievements and highlighted the companyâs expansion plans in the region. He expressed his appreciation to Kuwait Energyâs team and their signiīŦcant role in making Kuwait Energy one of the few independent oil and gas exploration and production companies in the region, with operations in eight countries. CEO Ms. Sara Akbar expressed her pride in Kuwait Energyâs operations in Egypt and the progress that the company makes on a daily basis. Kuwait Energyâs operations in Egypt contribute the largest share to the companyâs current total working interest production.
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The Company operates three oil blocks in Egypt, Area A, Burg El Arab development lease and the Abu Sennan concession, and has interests in two other non-Company-operated blocks, namely the Mesaha concession and the Petroshahd Company (previously East Ras Qattara). Kuwait Energy has been proīŦtable since inception in 2005, and currently operates in Egypt, Iraq, Yemen, Oman, Ukraine, Latvia, Russia and Pakistan.Kuwait Energyâs working interest proven and probable reserves at year end 2011 were 235.3 million barrels of oil equivalent and its current production has reached approximately 17,970 barrels of oil equivalent per day.
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Vane Pump-Another Promising ArtiīŦcial Lift Form?
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Industry At A Glance
Together ..... To Save Our EGYPT
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Egyptian Natural Gas Holding Company ÂĢEgasÂģ
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True Zonal Isolation in Openhole Alternate Path Gravel Pack Completions 50
Petroleum Today Chairman Mohamed Bendary
Together ..... To Save Our EGYPT
Vice-Chairman Mohamed Hamdy Executive Editor-in-Chief Magdy Bendary General Manager Hany Ibrahim
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here is no way to save our beloved EGYPT from this current situation only through the efforts of all different political parties from Leftists, Islamists, and Liberals and create a state of national consensus among the various factions and political parties on important issues related to every Egyptian first and foremost issue is to set the new constitution as the first Egyptian Constitution after the 25th January revolution must receive glorious and high rate of political and popular consensus and must meet the demands of the revolution which was sparked by people ÃŤSubsistence Freedom - Social JusticeÃÅĨ. Unfortunately, what we are witnessing now is the rivalry and infighting between various political forces peaked to the attempt to attack the headquarters of the Ministry of Interiors and the attack on the headquarters of the Freedom and Justice ruling party in various governorates of the republic does not have any relationship from near or far to the freedom of opinion and expression and it is an uncivilized way of rejecting the obsession of a single political faction of the reins of power. Islamist must put his hands in the hands of the Secular, the Leftist and the Liberal to save Egypt from this current situation where it deteriorate its economy due to the political situation and the existing and growing sit-ins and categorical strikes in various sectors of production, the national interest of Egypt must control the hearts and minds of every political faction rather than self-interest to take Egypt to safety side. The language of dialogue and discussion must prevail to reach a state of harmony and build bridges of trust rather than the control of the language of violence and mistrust, and accusation of betrayal because the biggest loser of that is certainly Egypt. Egyptian media also must possess the spirit of responsibility towards this country and put the interest of Egypt above all, and addresses the issues and political events in full impartial and work on healing and calming not to inflame the situation between various political parties and deal with the issues of National Security in a kind of professionalism and literal away from damaging Egyptian National Security as it did with the demarcation of the border in the territorial and economic water between Egypt, Israel and Cyprus which was addressed by many of the media beneficially in achieving the highest percentage of viewing at the expense of the higher interest of Egypt, that case which had occupied and still preoccupy public opinion although Engineer Osama Kamal, Minister of Petroleum and Mineral Resources held a scientific symposium revealed many facts revealed the falsification of what media addressed in this case. Then Unity among the various political forces and national consensus is the only way to get out of the successive political crises in Egypt.
Article Scientific Adviser Consultant /Ahmed Shehab Scientific Secretary Ali Ibrahim Editing Staff Shaimaa Eid Hany Khaled Mohamed Mousa Marketing Magdy Ahmed Mohamed Moussa Mohamed Attia Financial Management Omnia Alaa Distribution Medhat Ramadan Art Direction Mohamed Bendary Production Mohamed Salah Scientific Staff Dr. Attia M. Attia Dr. Ahmed Z. Nouh Dr. Ismail Aiad Dr. Gamal Gouda Eng. Mahmoud A. Gobran Eng. Mohamed nada Eng. Taher Abd El Rahim Eng. Mohamed Bydoun Eng.Samir Abady Dr. Lubna Abbas Saleh Special thanks to all the Society of Petroleum Engineers (SPE) Mr. Hany Hafez Eng. Mohamed Abdel Sattar Eng. Osama Elmeselhy Publisher The Egyptian Company For Marketing 13th AL-Nile AL-Abyad st, (EL-Mohafza Tower) Lebanon Sq, Mohandsen - Giza Tel: +202 42191195 01006596350 - 01116251134 01221412260 E-mail: petroleum.mag@gmail.com E-mail:info@ petroleum-today.com www.petroleum-today.com Copyright Reserved Color Separations: Photo Screen Printed by: Makkah Design by:
And In the end, we salute you all and wish for Egypt pride and dignity.
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Egypt News Engineer Hany Dahy: 55% of Egyptâēs total area covered by Petroleum Agreements
Ministry of Petroleum FRQÂŋUPV WR WKH 3URWHFWLRQ Competition Agency its commitment to the rules of Natural Gas Sale
Hany Dahy Executive Chief of General Petroleum Authority revealed that more than 55% of the total mass of Egypt Oasis covered by Petroleum Agreements and we currently have 114 agreements, including 20 research and development agreements and 10 research agreements and 84 agreements for the development of discoveries and the number of foreign companies operating in the petroleum activity in Egypt are 77 companies.
Dr. Mona Al-Gurf head of Protection Competition Agency and Prevent Monopolistic Practices that the Agency has received conīŦrmation from the Ministry of Petroleum and beneīŦt not the ministryâēs intention to weaken the competitiveness in the sector to import natural gas Any of the contenders at the expense of the other.
Dahy assured that the Egyptian oil reserve and its condensate is 4.3 billion barrels and daily production of 670 thousand barrels and during the last īŦscal year added 200 million barrels of oil and condensate. He explained in a press statement that Egyptâēs total production of oil, gas and condensate and butane 81.2 million tons equivalent during the last īŦscal year and before the end of this year it will put a new bid that includes 15 new area of the Red Sea and the Western and Eastern Desert.
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She said in a statement that this came as a response from the ministry about the Agency queries whether it grew from information that the Ministryâēs intention to import large quantities of oil and natural gas sold at varying prices for people competing in the same market. Dr. Al-Gurf welcomed the response of the Ministry of Petroleum to the Agency where it considered a positive thing for cooperation between the two sides during the next phase and the opinion of the Agency in discussions to develop a natural gas pricing system.
November 2012
Egypt is invited to attend a meeting of the Council of the European Union (EU) in Cyprus Mr. Neoklis Sylikiotis, Cyprus Minister of Commerce, Industry and Tourism and Cypriot President Energy Affairs in the European Union delivered an invitation to Engineer Osama Kamal, Minister of Petroleum and Mineral Resources to attend the Council of the European Union which will be held in Cyprus on 12, 13 December to discuss energy issues in the region as Cyprus is the Chairman of the current session of the European Union. The Cypriot minister asked Egypt to have a speech at the opening of the meeting as a major country in the region and has long experience in the Petroleum Industry and best suited to represent the group neighboring countries to the European Union countries. This came during a joint session of talks held between the two sides Egyptian and Cypriot chaired by the ministers of the two countries in the presence of Ambassador Menha
Bakhoum Egyptâēs ambassador to Cyprus and Cyprus ambassador in Egypt Sotos Lyaseedis. Engineer Osama Kamal pointed that Cypriot side that request by drawing on the experience of Egypt in the īŦeld of petroleum contract agreements for oil and gas, especially in deep water and seismic surveys and put global bids for research and exploration.
Division of Petroleum 0DWHULDOV FRQÂŋUPV WKDW WKH application of LPG pipeline distribution system without clear mechanisms wasted 2.8 billion Hossam Arafat, President of the General Division of petroleum Materials said that the application of the current distribution system is a waste of public money and through which the government aims to create suspended stability in preparation for the parliamentary elections, pointing out that the application in this way the government will cost the government losses of 2.8 billion Egyptian Pounds as a difference of support of the new system from the current system. This came a meeting of the Division, which criticized the implementation of the decision coupons distributed butane in the provinces that the government announced the application experience it without the presence of clear mechanisms for implementation, especially in light rate differential cylinder from center to center Prices range between 5 and 10 pounds warehouse delivery. Arafat criticized the remarks of Dr. Hisham Kandil Prime Minister on halting construction agricultural land for a period of 6 months without exception warehouses of the resolution, pointing out that warehouses have had space for building on agricultural
land as an exception on an area of 245 square meters and that the dimensions of bio-security and exit outside the residential block residential.
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)RU WKH ÂŋUVW WLPH LQ the history of Egypt Establishment of an Egyptian-Qatari company to import LNG from Qatar
Establishing a Holding Company to create industrial clusters of Petrochemicals by 50 million Egyptian Pounds The Board of Directors of the General Authority for Industrial Development Commission approved unanimously to contribute to the establishment of a holding company to create industrial clusters of small and medium Petrochemicals that the company would create and manage tasks and the development of industrial clusters for petrochemical products and chemical in the areas of ÂĢconstruction - plastic packaging - car feeding industriesÂģ, with the participation of private sector investors. Engineer Ismail Al-Nagdy President of the General Authority for Industrial Development said that it has been signed a protocol of cooperation between all of the Egyptian Holding Company for Petrochemicals and the General Authority for Industrial Development and Investment and the Social Fund for Development and the Executive for industrial projects and mining to establish industrial clusters of small and medium projects and products and using raw materials that are produced from the draft national present and future plan for Petrochemicals. Al-Nagdy add that the authorized share capital is 50 million Egyptian Pounds with capital source 20 million Egyptian Pounds to be paid up share capital of which is 50 million Egyptian Pounds evenly distributed between the four Protocol points (Holding Company for Petrochemicals - the
A group of Egyptian and Qatari Investors in Doha agreed on the establishment of a company to import natural gas to Egypt and meet increasing demand in the Egyptian market by mid-year 2013 and the establishment of the īŦoating unit to receive and store liqueīŦed natural gas and re-changed and marketed in Egypt. The Citadel Egyptian Company announced signing of an agreement whereby cooperation with Q-Invest Foundation and a group of Qatari investors to establish a company for the purpose of creating and owning īŦoating unit in Egypt for the reception and storage of liqueīŦed natural gas (LNG) and return it to its gaseous state ( FSRU), And transportation of the national network of gas and marketing in order to provide natural gas supplies to large and high energy consumers in the local market. It is scheduled the Qatari side to have 51% of the shares of the new company and the Citadel company to have the remaining share and it is not yet announced the site planned for the project or the cost estimates investment or the paid but workers in the Petroleum sector said that these projects need billions of dollars. The new company will exercise its activity in the Egyptian market in the framework of the system of import Gas licenses which was recently announced by the Egyptian Holding Company for Natural Gas ÂĢEGAS.Âģ
Petroleum Today -
November 2012
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founded by Adalbert Fritz in Schmiedefeld/ Thuringia, Germany in 1869, is an innovative, medium-sized company with a total staff of âĸ
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Since 1969, VEP have manufactured economical, fluid-actuated switches for sensing vacuum, differential and dual differential pressure for the Aerospace industry. Offering an extensive range of air speed, landing gear, brake, and fuel systems switches.
Industrial Pressure Switches âĸ Vacuum Switches âĸ Differential Switches Since 1947, the Henry G. Dietz Company has designed and built heavy duty low pressure switches, vacuum switches, and differential switches for construction, earth moving, marine, rail transportation, clean rooms, military, chemical and sewage
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Arab News Turkey signs agreement to drill oil wells in Iraq s Basra
Algeria begins Oil Exploration in Sea by 2014
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Turkey signed an agreement worth $350 million to drill 40 oil wells in the southern province of Basra.
SONATRAC Algeriaâs giant government Oil announced that it will start exploration for oil and gas in its local coast by the year 2014.
UAE oil minister said Fujairah pipeline that does not pass the Strait of Hormuz will enter full service by the end of the year and will transfer most of Abu Dhabiâēs exports of crude.
Turkish Energy Minister Taner Yildiz said in a true conference in Turkey in talks with the central government in Baghdad to drill a total of seven thousand wells across Iraq. It did not immediately disclose details about the time frame for these actions or executing companies. The growing Turkish participation in the energy sector in Iraq despite tensions with Baghdad because of granting asylum to Ankara for fugitive Iraqi Vice President Tareq Al-Hashemy, who sentenced him to death by an Iraqi court for the second time the day before yesterday. Yildiz said in press conference, which was held in the Turkish capital of Ankara continue to work with the central government to drill seven thousands of wells across Iraq as a whole. The Minister also said that talks were underway with the Turkish treasury on an initial public offering of the shares of oil company TPAO and company Botas pipeline state-owned, adding that Turkey īŦrst planned to sell TPAO shares.
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Mohamad Saeed Mala director of the northern exploration department in SONATRAC said in a press statement that the company will begin drilling at sea alone or with a foreign partner, stressing the capacity the SONATRAC occurred as the implementation of this project on its own. He added that the exploration would be on an area of 3 thousand square kilometers between Begaya and Ennaba provinces east of the capital on an area of two thousand square kilometers between tennis and Mostaganem provinces both in the west. He explained, that these areas, which the company expects the presence of hydrocarbons is located at a depth of 2000 to 2500 M pointing out that the process of exploration and one will cost $100 million. It is a public company formed to exploit petroleum resources in Algeria is now a variety of activities, including all aspects of production exploration, extraction, transportation and reīŦning and it has diversiīŦed in their amputation and chemically and desalination of sea water.
November 2012
Under Iranian threats to close the Strait of Hormuz, the largest shipping lane for oil trade in the world the United Arab Emirates launched the pipeline, which is long overdue to pump up to 1.8 million barrels per day and sent the īŦrst shipment of exports in July. The Minister Mohammed Al-Hamly told reporters on the sidelines of the World Economic Forum World In Dubai ÂĢWe hope by the end of the year to fully enter serviceÂģ. The pipeline transmits primarily along the 370 kilometers of oil īŦelds in the desert west of the UAE to Fujairah, a major center for oil storage and bunkering on the east coast. The new harbor Supplier eight tanks for crude oil storage capacity of each million barrels. But since the īŦrst three shipments, and some returned to the UAE port of Fujairah does not work fully to absorb most of the UAEâēs oil exports.
International News &DQDGD VWUHVVHV WKH LPSRUWDQFH RI GLYHUVLÂŋFDWLRQ RI LWV RLO H[SRUWV DIWHU 8 6 LQÃDWLRQ expectations of oil production Canada conīŦrmed the reports that says United States will become the largest oil producer in the world by the end of the decade should prepare a warning paints a dramatically need for Canada to diversify its oil exports. Canadian Natural Resources Minister Joe Oliver said that 98% of Canadaâēs exports of oil and 100% of its exports of gasoline is heading to the United States. He said he expected that the United States reduces its dependence on oil and gasoline from Canada, and then it is important to urgently build pipelines PaciīŦc Coast to strengthen Canada to export to Asia. Noteworthy that the International Energy Agency has reported that the United States will become the largest producer of oil on the outskirts of 2020 with detection techniques to īŦnd more resources.
&KLQD H[SHFWV WR LQFUHDVH LWV oil production to 250 million tons in 2030 Chinese Ministry of Land and Resources expected a high rise in the production of oil and gas by 2030 due to the signiīŦcant increase in the resources available geological in the north-eastern region of China.
The director of geological explorations in the ministry in a statement data reporters that oil production is expected to exceed 250 million tons on an annual basis in 2030 with the prospect of the arrival of gas production to 45 billion cubic meters. He explained that the oil resources Geological northeastern regions of China reached 5.22 billion tons at the end of 2011 with the arrival of resources recoverable to 2.7 billion tons, up 7.5 billion tons and 3.1 billion tons respectively for the year 2007.
World Bank: Nigeria s SHWUROHXP GHSOHWLRQ ZLWKLQ 41 years World Bank predicted depletion of Nigerian oil within 41 years and Angola during 21 years. The Bankâēs report on the economic situation in the African continent that Nigeria - the largest oil producer in the African continent - will stop production after depletion of its oil during 41 years and Angola - the second largest oil producer in the continent - would stop production after 21 years from now. The report added that the adoption of these two countries on the reserve continue in the near term and medium pointing out that oil production in some newly discovered country such as Ghana and Uganda will not last long
It is noteworthy that Nigeria is the largest oil resulted in the African continent which is also one of the core members in the Organization of Petroleum Exporting Countries (OPEC), where now produces more than 2.5 million barrels a day, according to U.S. ofīŦcials.
Malaysia discovers new oil well Malaysian Prime Minister Nageeb Abd Al-Razzak announced that he found additional oil reserves in the region of ÂĢBertamÂģ in the Malaysian state of Pahang. Abd Al-Razzak told a news conference after presided over a meeting of the Executive Board of biotechnology companies PETRONAS and LUNDIN OIL with private limited exploration has located an oil well 160 km off the coast of Peninsular Malaysia at a depth of 76 meters. He added that depending on the outcome of the study are still alive enforcement technical and economic volume of oil production is expected to reach between 17,500 and 20,000 barrels per day during the third quarter of 2014. Abd Al-Razzek explained that Bertam oil region may contain 64 million barrels of oil thanks to this new discovery.
Petroleum Today -
November 2012
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Corporatiom News Saudi ARAMCO launches its regional headquarters In Beijing
Government is considering solving the problems of Exxon Mobil company in the Egyptian market
Saudi ARAMCO one of the biggest oil producing companies in the world Recently announced set up a company ARAMCO Asia and the opening of its regional headquarters In the Chinese capital of Beijing to strengthen its presence in one of the fastest growing regions in the world In a move to demonstrate the strategic importance Enjoyed by the companyâēs Asia region.
Dr. Hisham Kandeel Prime Minister met Chairman of the Board of Directors of the British EXXON MOBIL, Andy Wales in the presence of Engineer Osama Kamal, Minister of Petroleum.
ARAMCO Asia company will be fully owned by Saudi ARAMCO and taken from the Chinese capital Beijingbased intermediary for trade deal between Saudi ARAMCO and China and will also have other two ofīŦces in Shanghai and Xiamen in addition to its regional headquarters. At the opening ceremony which was held in the Chinese capital Beijing conīŦrmed Senior Vice President of reīŦning, processing and marketing Abd Al-Rahman Fahd Al-Wahaib announced in a statement data Newspapers that the companyâēs new headquarters in Beijing will be an important pillar in strengthening its operations in general and in particular the activities of investment and commercial opportunities other arising from major projects in Saudi Arabia and Asia.
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And the government announced in a statement that it is currently studying all challenges facing EXXON MOBIL company in the Egyptian market and work to overcome all the obstacles and problems facing increasing its investments in Egypt in coordination with all the ministries and departments concerned to reach practical solutions satisfy the aspirations of the company. The companyâēs activity in Egypt started in 1902 and today occupies a large company status In the petroleum products market and derivatives amputation well and fuel and oil markets in Egypt, where the company is committed to attracting more of the latest global technologies, And the use of quality system applied globally in the īŦeld of oil and fuel oils through the use of the best global talent to provide a full range of petroleum derivatives and the highquality oils to meet the needs of the Egyptian market.
November 2012
The company owns nearly 350
service station to meet the market needs in addition to 25 store on the run in Governorates of Cairo and Alexandria provide prompt service and outstanding īŦeet also includes the transfer of a large component of the mechanism for the transfer of 50 trucks directly to stations in line with international safety standards.
As a result of lower prices and declining production.. 6+(// SURÂŋWV IDOO WR $ 6.1 billion Royal Dutch SHELL recorded second-largest oil company in the world decreased by 15% in thirdquarter proīŦt as lower oil prices overshadowed the decline in production and exceptional expenses on strong margins in reīŦning activities. SHELL announced its net proīŦt of $ 6.1 billion decreased lighted from $ 7.2 billion a year ago and excluding expenses exceptional resulting from the devaluation of assets due to weak gas prices U.S. and modiīŦcations tax British and other factors, the R revealed the company amounted to $ 6.6 billion analysts had predicted that total proīŦts $ 6.3 billion. And contributed to the cessation of production in Nigeria as a result of security breaches in the companyâēs global production fell from 5% liquids and gas production fell 4%.
Egypt Gas Company plans to evacuate the provinces of Butane Engineer Mustafa Ismail President of Egypt Gas Company said that the company began implementing its plan to expand in the delivery of natural gas to homes in the companyâēs concession areas The targeted delivery of gas for 300 thousand residential units in Tokh, Almarg, Alkhosos, Kalyoub, Alhadtha, Alkanater, Qena and Aswan. Ismail pointed that the companyâēs plan aimed evacuate those areas of butane and replace it with natural gas, pointing to the completion of the plant to reduce gas pressure carried out by Egypt Gas Company in Tokh bass investments of up to 26.5 million pounds in order to deliver gas to 17 thousand housing units and 15 bakeries stage īŦrst. Ismail added that the company aims during the brief period the completion of delivery of gas to nearby provinces and cities of the network under the evacuation program of LPG depots to provide support borne by the state and in order to facilitate the citizens.
THARWA Petroleum Company conducted studies to identify new areas for exploration Engineer Medhat Al-Sayed President of THARWA Petroleum said that the company is currently underway a number of studies to identify areas that can work during the coming period, taking into account that enjoys those areas by low risk, especially with the limited resources of the company, particularly as it is engaged in research and exploration for oil and gas. Al-Sayed pointed that rising costs of oil and gas extraction from the
Top â Level Competition at Pro Plus Katameya Pro Plus Health & Fitness Club - Katameya staged a top-level competition in November and were very Privileged to be joined by two World Champion power lifters. Competitors were entered into various events to test their īŦtness and endurance, which included: push-ups, Pull-ups, running, swimming as well as a number of activities to test speed and agility on the Pro plus Health & Fitness Clubâs exercise machines. Seen in the photograph below are the participants entered into the Abs competition.
water where the company is always involved in Less dangerous areas pointing out that the company relies on its investments on its own resources and not in debts for any of the banks operating in Egypt, despite the research and exploration sector requires a lot of money and a huge investment. The companyâēs wealth of Petroleum that the company has achieved great success in the īŦeld of research and exploration after just two years of activity, the announcement īŦrst discovery of gas in the area conīŦdence marine northern Sinai Mediterranean in July 2006 and within three years was converted disclosure to the development and well proven reserves of more than 140 billion cubic feet and the implementation of the development plan for the region in partnership with IOC Italian establishment maritime line length of 50 kilometers and began production in January 2009 using the facilities available to PETROBEL company to reduce the capital cost to add 100 million cubic feet gas daily to map gas production in Egypt at the start of production.
Dana Gas announces discovery of gas in Delta estimated at 6 billion cubic feet UAE Dana Gas said it discovered natural gas In the Nile Delta, Egypt and estimated the size of the new reservoir in the range of four to six billion cubic feet. The company said it was preparing a plan for the development of detection achieved at the site West Sama 1and will link it to a near station close to the gas processing. Dana Gas said the discovery is the second in the īŦeld of natural gas In Egypt this year after the successful exploration work in the Kom Ombo concession In the second quarter of the year. Noteworthy that The company with activities in Egypt, said recently that the Egyptian unit began commercial production plant for natural gas liquids there.
Petroleum Today -
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New Products Continuous Drilling Fluid Flow Benefits of continuous circulation during drilling operations have been known for a long time; however, technological solutions have started to emerge only recently. Weatherford has developed a continuous-flow system to help improve drilling performance and safety at the wellsite. Circulation of drilling fluid when adding or removing a stand of drillpipe offers many potential benefits including better control of annular-pressure spikes seen during connections (reducing the likelihood of kicks), mud losses, and differential- and mechanical-stuckpipe events. The system will minimize formation damage caused by pressure changes during conventional connections with rig-pump ramp-up and ramp down cycles. Drilling fluid will be diverted automatically from the standpipe to the side port in the subassembly (Fig. 1), allowing circulation to continue during connections. The control will take place away from the rig floor by use of a remote panel, allowing personnel to remain a safe distance from the operation. Initial field trials
22 Petroleum Today
Fig.1âWeatherfordâs continuous-flow system on the system are planned. For additional information, email justin.cunningham@weatherford.com
Flowmeter for WAG System McCrometerâs V-Cone Flow Meter (Fig. 2) is designed for use in water alternating- gas (WAG) -injection systems for mature reservoirs. In a typical WAG system, this flow meter is installed as a master meter at the CO2 source with stainless-steel piping run to as many as 16 injection wells. The flowmeter maintains excellent accuracy when the volumes of the 16 pipe runs are added together. The
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meter itself also requires virtually no maintenanceâonly a simple calibration check of the transmitter. With built-in flow conditioning, the meter features advanced differential pressure (DP) technology to nearly eliminate the up - and downstream straight pipe runs required by other DP instruments, such as orifice plates and Venturi tubes. The flowmeter is inherently more accurate than traditional DP instruments because flow conditioning is built into its unique sensor design. The centrally located cone interacts withthe fluid steam, reshaping the velocity profile to provide a stable signal that increases measurement accuracy. The DP is measured with two pressure-sensing taps, one placed slightly upstream of the cone and the other in the downstream face of the cone itself. The DP then is incorporated into a derivation ofthe Bernoulli equation to determine the fluid-flow rate. The flowmeter is availablein line sizes from 0.5 in. to greater than 120 in. It operates over a wide flow range of 10:1, is accurate to Âą0.5%, and offers repeatability to Âą0.1%. For additional information, visit www.mccrometer.com.
the gate valve through 200 cycles of extreme temperatures ranging from â20 to +450°F under a constant pressure of 15,000 psi. This test ensures that
Fig.2 âMcCrometerâs V-Cone Flow Meter
Progressing-Cavity Surface Pumps Moyno progressing-cavity pumps are capable of handling thick, abrasive, and corrosive heavy oil effectively, even with viscosities higher than 1,000,000 cp. There are models capable of generating flow rates up to 2,500 gal/ min and pressures up to 2,100 psi. These pumps are low maintenance and have a long service life. The progressing-cavity design results in a low-shear discharge with no-pulsation flow. Progressing- cavity pumps for lease-automatic- custody transfer
the gate valve meets the American Petroleum Institute 6A Annex F-PR2 performance requirements. After completion of the test, inspection of key seal components within the valveâs upstream and downstream sides revealed no abnormal abrasion or deformation. Test results demonstrated that mechanical integrity was maintained on the upstream and downstream-seal assemblies, the gate faces, and the stem packing. The companyâs dual-seal technology forms a bubble-tight seal against the valve gate, which is maintained through the most extreme conditions, such as those occurring in Arctic and ultradeep water drilling and production. For additional information, visit www.womusa.com
(LACT) applications provide accurate transfer of ownership of liquid hydrocarbons between a buyer and a seller through an LACT unit into a pipeline. For additional information, email literature@tdh-marketing.com.
Fig. 3âWOM test stand with the Dual-Seal Gate Val
High-Performance Rod Guides Robbins & Myers Energy Services Group has introduced its high- performance rod guide for progressing-cavity down hole-pumping applications. The New Era Cross Over high- performance rod guides (Fig. 4) can effectively increase production and decrease workover costs by extending rod and tubing-service life in standard and high temperature applications. These rod guides deliver maximum performance at well conditions up to 500°F. The rod guide has a hydrodynamic design and is manufactured from engineered plastics enhanced with performance additives specifically tailored to withstand hightemperature-well conditions. This design helps keep fluid closer to laminar flow around the guide and decreases the chance of gas breakout. The concave body channel allows wider vanes, more erodible material than other designs, and low fluid drag. Reduced hydraulicdrag force maximizes carrier-bar loads on the downstroke. Wider vanes provide maximum surface-bearing area. The guides are custom designed for each rod and tubing size, to allow maximum vane width and optimum bypass area. Nominal tubing sizes include 2, 2ÂŊ, and 3 in. The proprietary DuraGuide wear indicators provide visual confirmation of remaining erodible material on guides. For additional information, email esg.marketing@robn.com
Gate-Valve Seals Worldwide Oilfield Machine (WOM) has successfully completed an extreme temperature test of its patented Dual-Seal Gate Valve with Magnum Seal Assembly (Fig. 3). The test included operating
Fig. 4âRobbins & Myers Energy Services Group New Era Cross Over rod guide Petroleum Today
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Vane Pump-Another Promising Artificial Lift Form? By
Tongbin Wang, Zejun Shen, Xiaohan Pei, Zhongxian Hao, Lixin Zhang, Quanbin Wang, He Liu, Jie Qian, Riped,Petrochina
A
bstract
In thermal production well, beam pumping lifting is still the major artificial lift form in spite of its high cost on surface equipments and huge energy consumption. In conventional progressive cavity pump (PCP), the interior stator is made of synthetic elastomer, the steam temperature is too high for it to work. For the lift in hightemperature wells, in a long time, we did not have a good solution that can balance both mechanical efficiency and high temperature resistance. We developed a new lift manner by using vane pump as the down-hole pump to lift oil to the surface. According to the down-hole conditions, we redesigned the structure of vane pump with small radial size and transporting fluids axially. As same as PCP, the vane pump lift system and its rotor is driven by a surface drive head through the rotating rod strings. There is no initial tightness between the rotor and the stator of the vane pump that are all made up of metal elements. It can resist the temperature of 2500 and
24 Petroleum Today
be used in high oil-gas ratio well and heavy oil well. The vane pumpÃĸ€™s flow rate is about 5 to 100 cubic meters per day, and the pressure rating can reach 20MPa. The vane pumps have been deployed in five steam flooding wells. Compared with the beam pumping unit with the similiar liquid-producing capacity, the energy consumption of vane pump is 30 percent lower. Until now, the longest operation time span is 11 mouths, and all pumps are in good condition. Maybe in the near future, vane pump lift system will become another important artificial lift form. In this paper we will discuss the design of vane pump and its artificial lift system, its benefits and case histories in details. Key words: Artificial lift, vane pump, multiple-stage vane pump, thermal production well
Introduction
Pumping unit is the most conventional artificial lift form which can be traced back to the early 20th century, the system features its high
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reliability and few maintenance is needed; but the low efficiency and high investment is the other side of the coin when the system is in use. Presently, there are other artificial lift forms, such as gas lift system, electric submersible pump (ESP), progressive cavity pump (PCP), and jet pump, etc. Especially in thermal production well, the fluid temperature is very high (steam temperature is usually above 2000), the daily output is low (the average output of most well is below 30 m3/d). This severe working condition is a big challenge for artificial lift equipments. In the artificial lift forms above, gas lift is fit for the wells deep and wells with high production, low sediment concentration, low water cut, high steam oil ratio and corrosive components. The system is not fit for cyclic steam stimulation and steam flooding wells. Additionally, the investment of gas lift system is high, and the construction of which is also limited by the gas source. ESP is fit for the wells with large output, the poor temperature resistance and high
investment make it not fit for the thermal production wells with low output. PCP is known as an alternative taking the place of pumping units in the wells with heavy oil and sand wells, but the bad temperature resistance makes it not fit for thermal production wells [13-]. Until now, for thermal production wells, we did not find out another artificial lift form with both higher efficiency and reliability except the pumping unit. Vane pump is one type of positive displacement pump, its working principle is like that: when the rotor rotates, the sliding vanes are pushed onto the inside surface of stator and dynamic sealing is formed between the sliding vane and the stator, and the volume of cavities changes to produce pumping pressure accordingly. The common vane pump features its high hydraulic efficiency and smooth flow rate [45-], but in order to make it fit for the artificial lift in wells and thermal production wells especially, the following problems must be solved: (1) For both single-action and double-action vane pumps; the rated revolution speed usually is high, which is supported by its good lubrication. But in well bore, the lubrication usually is not sufficient. Moreover, high revolution speed is not fit for most low-production wells and will lead to the working life shortened. (2) For both single-stage and doublestage vane pumps in common use, the pumping pressure is not very high. Especially when the revolution speed decreases, the hydraulic efficiency and the pumping pressure decreases simultaneously. (3) The size of common vane pump is not compact enough for the slim well bore. In order to meet the demand of the artificial lift technology of thermal production well and solve the problems of common vane pumps, we designed the multiple-stage vane pump (MVP)
and its matching artificial lift system, and its field test in thermal production well was launched. In this paper the design mechanism of MVP, the MVP artificial lift system, and the experiment cases on the spot are introduced.
MVP can be expressed as the product of the individual volumetric efficiency of the three single-stage vane pumps. Generally, the theoretical volumetric efficiency of single-stage vane pump is about 90%, assuming
Design of MVP
In order to adapt to the long and narrow well bore, while MVP is designed, the axis of revolution must be consistent with the direction of lift; for enhancing the pumping pressure, the vane pumps are arranged in series connection, so as to distribute the artificial lift pressure to very stage evenly. The design mechanism is illustrated in Figure-1. Figure-1 (a) shows the singlestage vane pump. When the shaft rotates, the fluid is inhaled from the inlet below and pumped out of the outlet above. Similarly when we put two singlestage vane pumps together as what is illustrated by Figure-1 (b), the pressurization of fluid can be achieved accordingly. Presently, three singlestage vane pumps are built into one MVP unit. When higher pumping pressure is needed, several MVP units can be connected through couplings. By using the eccentric circle model (the inside contour of stator) illustrated in Figure-2, the theoretical capacity Vd (daily output) of MVP is obtained.
(1) In which b is the width of sliding vane in the axial direction; e is the eccentricity of rotor; D is the ID of stator, n is the revolution speed per minute. As to the 114mm OD MVP, assuming the revolution speed is 160r/ min, the capacity per minute is 26L, the Vd is 26m3, and one MVP unit can provide pumping pressure up to 6MPa. While calculating the volumetric efficiency of MVP, for one MVP unit is made of 3 single-stage vane pumps, the theoretical volumetric efficiency of
obtained as follows.
(2)
MVP has the following characteristics: (1) The rotor, stator and sliding vanes are all made of metals. This is why MVP can resist the temperature above 2500 and adapt to the working condition in thermal production wells. (2) There is no pretightening force between the sliding vanes and inner side of stator, and no eccentric movement when rotor is rotating, which leads to the high system efficiency. (3) The axial size of MVP is short, which makes it adapt to deviated well bore easily.
2. MVP artificial lift system
In reference to the PCP artificial lift system, the MVP artificial lift system is designed as the illustration in Figure-3. The system can be divided into two parts: surface drive head and downhole tools. The surface drive head is similar to that of PCP artificial lift system, which drives the MVP through the sucker rod. The drive head is driven by variable frequency (VF), the revolution speed can be adjusted from 80 to 300r/min.
The downhole tools include tubing, sucker rod, transmission section, MVP and anchor from top to bottom. The tubing is connected with MVP forming the artificial lift channel; the power of sucker rod is transferred to MVP through transmission section which also has the function of steam injection and sand control; the anchor is used to prevent the downhole tubing from rotating.
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The transmission section is the special tool designed for the MVP artificial lift system. The upper side is connected with tubing, the lower side is connected with MVP, the inner of upper side is connected with sucker rod, the inner of lower side is connected with rotor, the rotation of sucker rod is damped centralized and transferred to the MVP by the transmission section. A steam injection valve and a sand tube are also designed in the transmission section. In steam injection period, the steam injection valve is opened with the action of pulling sucker rod upwards, but the MVP artificial lift system is not tripped out, the steam goes into the annular space between the casing and the tubing (above the MVP) in case of steam going into MVP directly. In the production period the valve is closed by pushing sucker rod downwards. At the same time the valve is used to adjust the anti-impact stroke. The sand tube collects the sand in both production period and non-production period, which can prevent MVP from sand sticking. The anchor of MVP is redesigned compared with that of PCP. Its function is to counteract the twisting force while MVP is working, and keep the pipe in the tension under the action of gravity even if thermal elongation happens to the pipe after the high temperature steam is injected, the design can also decrease the possibility of wear between the tubing and sucker rod. In the MVP artificial lift system, for the use of drive head, the cost for well construction is greatly saved compared with the pumping unit; the driving force is transferred to the downhole through the sucker rod, the temperature resistance performance of motor is not a concern for the design of MVP system in contrast with that of
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ESP. Because of the lower revolution speed and output, the MVP artificial lift system is more suitable for lowproduction wells.
The installation of MVP and field test. The installation of MVP The installation of MVP is simple, low-risk. The operation procedure is as follows: 1. The anchor is connected to the lower end of MVP; MVP is connected to the lower end of the transmission section, the upper end of transmission section is connected to tubings, then the piping is ran in to the setting depth of pump. 2. Set the anchor. Rotate the tubing for 8 - 10 circles in clockwise until the anchor is set. 3. Connect the spline shaft to the lower end of sucker rod and run the sucker rod into the tubing till its lower end contacts the transmission section and the weight indicator displays zero, pull the sucker rod upwards and the weight indicator display recovers, pull the sucker rod 200mm upper, the connection between shaft of MVP and sucker rod is complete. 4. Install the drive head and other equipments, turn on the motor and launch the production. The ÄÅš eld test cases 5 MVP artificial lift systems have been put into use since 2009, and the following are the data for 4 wells. Case1: A1 well, the date for its running in operation is September 1st, 2010, the daily output is about 014.8ton, the average output daily is 3.24 ton. The output daily before MVP was tripped out is about 0.1 ton, the production period before the workover operation is 11 months. The MVP will be stripped in after the new cycle of steam injection is complete.
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Case2: A2 well. The date for its running in operation is October 27th, 2010. The daily output is about 0.111.4 ton, the average output daily is 7.04 ton. The daily output before MVP was tripped out is about 6.5 ton. The period before the workover operation is nearly 8 months. Case 3: A3 well. The date for its running in operation is May 4th, 2011. The daily output is about 714.4- ton, the average output daily is 10.01 ton. The current output daily is about 13 ton and the system is running. Case 4: A4 well. The date for its running in operation is May 4th, 2011. The daily output is about 19.4- ton. The average output daily is 5.9 ton. The daily output before the MVP system is shut down is 1.5 ton in March, 2012 for the leakage of drive head. In the 4 field test cases, the longest production period without workover is 11 months. In Table1, the data for 3 wells are contrasted with 3 contiguous pumping unit wells in the same block. Compared with pumping unit wells, the construction cost for MVP system is 30% lower, the energy saving is about 50%.
Conclusions
The research and field test show that the MVP system can meet the requirement of working condition in artificial lift properly, especially the artificial lift of thermal production well; for the similar working condition, the performance of energy saving is better than that of pumping unit. For the further improvement of MVP artificial lift system, the following research will be focused on: (1) The field test of injection valve will be launched. The injection valve was not operated in the current field test. (2) With respect to stator, rotor and high temperature sealing structure, the better performance can enhance the system reliability and working life. (3) The hydraulic characteristics,
sand prevention performance and adaptability to different viscosity will be further researched to facilitate the optimization of MVP artificial lift system in different wells. (4) The field test in common wells will be launched with the mature of technology. We believe that MVP will be another promising artificial lift system for the development of heavy oil and high efficiency lift in common oil well.
References
ī¸ Z. Cao. Recent advance in oil development equipment[J]. Foreign Oilfield Engineering, 1995, 11(6):6165. ī¸ Lea,JF Wink.,HW. Recent advance in progressive cavity pump[J]. Foreign Oilfield Engineering, 1996, 12(6):20 21. ī¸ Guoxing Gu. The associate technologies for the heavy oil development in
shanjiasi dan6 [J]. Petroleum Geology and Recovery Efficiency, 2003, 10(4): 7374,77-. ī¸ Yu Jing. The characteristics and development trend for vane pump[J]. China Storage and Transport, 2008, (12):116 - 117. ī¸ Maoqing Chen, Weidong Wu, Chunlai Lou. The design of vane pump and its hydraulic characteristics experiment[J]. Pump Technology: 2005, (1): 24 - 27.
Figure-1 Theoretical design of MPV Note: 1-shaft, 2-lower cover, 3-upper cover, 4-rotor and sliding vanes, 5-stator
Figure-2 the calculation of MVPâs theoretical capacity Petroleum Today
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Figure-3 MVP artificial lift system
Figure-4 Transmission section
Figure-5 Anchor Table 1 Contrast between MVP system and pumping unit system MVP artificial lift system: the installed power: 5.5 kw. The setting depth of pump: 100 - 450 m. Well no.
current (A)
Daily output (mÃÅ/a)
A2 A3 A4
6.5 6.6 6.6
10.4 10 6.2
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The contiguous pumping units: the installed power: 1115kw. The setting depth: 100 - 450m.
Average production period
Well no.
current (A)
Daily output (mÃÅ/a)
Average production period
>10 month
B1 B2 B3
14.8718.911.75 11.75
15 11 7
35- month
Success Story: Management of Mature Oil Fields in the Gulf of Suez by Suez Oil Company (SUCO) SUCO Company is one of the īŦrst companies exploring the Gulf of Suez for oil and gas in 1979. For more than thirty years, the company had been using all the available sources to increase the production and arrest the decline of the wells using the modern technologies in order to help her contribution in the progress of the industry in Egypt. A cumulative production of 625 MMstb was produced from the only three īŦelds. Since 2009, the company started to discuss the proper way in increasing the oil production from the three mature īŦelds and to decrease the production decline of the well. A plan was made for the development of each īŦeld. Maximizing Oil Recovery from Ras Budran Field Although all existing difīŦculties which beset oil production and negatively affect the sweep efīŦciency in Ras Budran īŦeld such as lack of substantial aquifer, adverse mobility ratio, highly stratiīŦed and heterogeneous reservoir, and scale build up problems. SUCO succeeded to increase the ultimate oil recovery from Ras Budran Field from 281 MMSTB to 298 MMSTB. Further increase is expected upon completing the proposed drilling campaign next year.
had 30 years of production history, it still carry a signiīŦcant degree of uncertainty due poor seismic imaging of reservoir units, for these reasons both simulation model and conventional analysis of available dynamic data (i.e. Well logs, MDT, PLTâs, performances, pressures, and production) are carefully used and integrated to update the structure model, estimate the expected oil volumes, and identify the īŦow barriers to pinpoint targets location. This reservoir engineering approach develops an understanding of the reservoir behavior and leads to optimize the production and injection strategy; therefore the dramatic decline in the īŦeld oil production rate (i.e. more 25 %/year production decline) was arrested and a īŦattened rate of production
ENG. Mohamed El Masry Chairman & Managing Director
decline is obtained. Four successful wells were drilled in Ras Budran, which expected to develop about 8.7 MMSTB, and are currently producing 50% of the total īŦeld production. Each of these wells is access and develops oil reserves which cannot be produced via any
of its offset producers. The most important achievement is the identiīŦcation and production of bypassed oil in the abandonment reservoir units; that increased the ultimate oil recovery from Ras Budran Field by about 6 %. Another major project was to compare the gas lift completion of some wells to ESP completion to overcome scarcity of processed gas used in Gas Lift due to the expected shortage of gas with the normal decline in the īŦeld production. The project faced several challenges at the beginning due to the harsh environment of Ras Budran, but after several installations and modiīŦcations to the completion design, using latest high tech equipment, SUCO succeeded to achieve ESP run life with more than a year continuously after installing the advanced ESP equipment and improving wells performance using the ESP/Gas Lift combined system.
Fig 3: Ras Budran Production Performance
Fig 4: ESP Running Life versus Time
Fig 2: Ras Budran Decline Arrest
Fig 1: Ras Budran Simulation Model
An efīŦcient reservoir engineering approach used to integrate the valuable data to cope with the īŦeld challenges and assessment of the uncertainties, which signiīŦcantly increase the chance of success. However of the īŦeld maturity, which
Electro-Gas completion has been demonstrated as an optimal style for Ras Budran wells in terms of cost and performance offering numerous possibilities for optimizing the production rate and ensuring uninterrupted production operation in many wells with a limited source gas for gas lift operation. In GL-ESP combined system, Lift gas is injected above the ESP pump to lower the density of the īŦuid head reducing the pressure proīŦle in the tubing. This head reduction improving the performance capabilities of the ESP in addition to supporting annulus pressure to be higher than tubing pressure preventing liquid circulation especially in case of mechanical problems not related to ESP such as tubing leakage above pump as in wells RB-B4 and RBB8b. Using this system minimizes the deferred production resulted in the ESP failure, consequently optimizing the cost of production and work-over which have a great impact in reduction of the capital and operational expenditures Using the advantage of EnergySaving minimizes the electrical power requirements in line with upgrading the electrical system by introducing the electriīŦcation project utilizing the National Grid as a power supply obtained a positive impact on overall cost/bbl. Untapped Reserves in Zeit Bay Field Zeit Bay is the only īŦeld in SUCO that combine between the carbonate formations, sandstone formations and fracture granite. This unique depositional environment was too difīŦcult to simulate, leaving the conventional method to be the only available method in anticipating the oil bearing areas. With the development of water through time some of the formations started watering out which left a limited oil leg to produce. In search for the oil leg, the shortage of gas lift has to be solved on the B platform. Well ZB-B5 was perforated in the Hammam Faraun Carbonate formation that produced 8 MMscf of
lift gas that was used to operate all the wells on the platform. Consequently, additional perforations were planned in the well ZB-B7a. The well was producing from Kareem Dolomite formation with 100 bopd; an additional perforation was to be added to increase the productivity of the well. After the job the well showed an increase of 150 bopd, but this increase was not satisfactory to Zeit Bay which left the engineers wondering to test the upper formation of Limestone for the īŦrst time. Well ZB-B8a was the candidate for testing the Limestone after isolating the Kareem Dolomite and opening production from the Limestone formation, the well showed production of 180 bopd. After this success in the Limestone, another well was to test the Limestone. Well ZB-B1 was producing with an average production of 60 bopd from Kareem Dolomite. An RST log was performed to īŦnd the saturation distribution in the different formations and īŦnding the water oil contact, after interpreting the log and conīŦrming the oil left in the upper structure of the Limestone formation the Limestone formation was perforated and producing the two formations comingling, the gain was about 200300- bopd. So the plan was to isolate Kareem Dolomite since the offset wells can produce the
Eng.Mohamed Baydoon SUCO Chairman Assistant For Operations & Board Member
remaining oil in Kareem Dolomite and stimulate the Limestone. The well was tested after stimulation to produce an average production rate of 800 bopd.Simultaneously with the successful rig-less work-overs, a technical study was initiated to review the available technical solutions for upgrading the production surface facilities. The study showed that the gas lift system performance is suffering from poor quality of gas, sub-optimal piping arrangements and non-availability of lift gas at all well location that require artiīŦcial lift and improving the lift gas quality and quantity (dry gas supply) by re-distribution of available dry lift gas could enhance Zeit Bay oil production by 600 bopd. The gas lift optimization project using coiled tubing is under preparation and expected to be completed next
Fig 5: Coiled Tubing used in the project
February/March 2013. Development of Ras Fanar West Area Ras Fanar shallow reservoir had been producing from the Nullipore formation since 1984 with strong aquifer support. The īŦeld produced naturally till 1996 when the water started developing; at that time the ESP project was launched to endure the production of the īŦeld. Till 2004, the western area was believed to be watered out compared to the water oil contact in the main area and then an exploratory well was to be drilled in the west area to treasure trove the existing of a new oil bearing reservoir with the original water oil contact. The western area was developed initially by drilling 6 inīŦll wells as īŦrst phase of development. This development phase has contributed in raising the overall productivity of the īŦeld with 45%. These results encouraged SUCO to pump more investment in this promising area, therefore it was crucial to update and improve the
planning base for such activity to update the reservoir study of the īŦeld to maximize the reserve so as to include the results obtained from the new wells drilled in this region and the rest of the īŦeld as well as fully understanding of the characterization of geological and compositional reservoir of the west area to proceed with the best development plan for this area. After the integrated reservoir study of Ras Fanar has been completed in 2008. More inīŦll wells locations were studied and found to be economically and potentially promising. The positive results from the īŦrst two drilled wells encouraged SUCO to step forward to further delineating of this area. Following the successful
Fig 6: Ras Fanar Production Distribution
drilling of these wells and due to the limitations of slots available for more drilling activities, the company has studied all the available alternatives and sidetrack was the only suitable solution to develop the west area by using the decline curve analysis technique to evaluate the remaining reserves especially in the low productive wells and the results from integrated reservoir study to evaluate the possibility to drain this reserve from offset wells. The second phase development campaign included eleven wells and supported the total production of SUCO with 49% of total Ras Fanar production and 20% of total SUCO production. Now, the reservoir management plan has been updated through performing a new integrated reservoir study including the īŦrst and second development phase wells, for further development of the īŦeld. This proper management for the three īŦelds helped in increasing the daily production of the company with an average of 7000 bopd to attain a production of more than 20000 bopd.
True Zonal Isolation in Openhole Alternate Path Gravel Pack Completions By
Michael D Barry, SPE, Michael T. Hecker, SPE, ExxonMobil Development Company; Charles S. Yeh, SPE, Tracy J. Moffett, SPE, ExxonMobil Upstream Research Company
A
bstract
Openhole completions are often selected as the preferred completion technique to maximize reservoir flow potential and provide reliable, high capacity, low skin completions. With the advances of Alternate PathÂŽ Technology (APT), a full gravel pack can be realized under challenging well conditions to provide increased long-term reliability. One drawback to openhole gravel packs has always been the inability to isolate water or gas, whether it is during the initial completion or during the production lifecycle of the well. ExxonMobil embarked on a multiyear initiative to develop, qualify, and successfully deploy Shunt Zonal Isolation (SZI) packer technology that, when combined with Internal Shunt Alternate Path Technology (ISAPT) screens, can provide true zonal isolation in an openhole gravel pack completion.
The new openhole technology enables greater extended drilling to capture additional pay, selective completions to isolate zones, and production flow control inside the screen basepipe similar to cased hole
34 Petroleum Today
conditions. True zonal isolation in openhole gravel pack completions facilitates more flexible well planning and operational execution while maintaining reliable sand control. This paper will explore the range of application opportunities this new technology presents.
the openhole section of the wellbore. Using an eccentric 2x2 shunt system, APT utilized with the NAFPacÂŽ gravel packing process has proven to be extremely reliable in completely packing the openhole annulus while delivering reliable, high rate, openhole completions (Hecker, 2004).
Background
Although routinely deployed, the current eccentric 2x2 Alternate Path screens have both technical and operational limitations. These include: ī¸ Maximum shunt system working pressure of 3,000 psi which limits the packable length to ~3,200 ft pumping using xanthan based carrier fluid ī¸ Risk of shunt tube plugging with two independent tubes extending the length of the completion ī¸ Complexity of rigsite connection make-up as oriented connections and cross-coupling jumper tubes are required ī¸ Deployment exposure dictates that an outer shroud must be incorporated in openhole applications to protect the shunt tubes while running in the hole ī¸ Challenges associated with designing an isolation packer
As operators continue to develop prospects in remote and / or deepwater environments, delivery of high capacity, long life wells becomes essential for economic success. High angle, openhole completions are often selected to maximize production and reserve capture. Standalone screen applications may often times be the least expensive and simplest form of sand control, but the formation characteristics may dictate that a gravel pack is necessary. If poorly sorted unconsolidated formations are encountered, gravel packing is often deemed necessary. Circulating water packs, or alpha / beta gravel packs, have been used worldwide, but may be challenged to achieve a complete gravel pack in certain applications. In order to achieve a complete gravel pack in such environments, APT has often been employed to fully pack
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capable of being set in an enlarged, irregularly shaped openhole 㸠Technical and operational challenges associated with installing and setting openhole packers to provide zonal isolation prior to commencing gravel packing operations It was clearly recognized that further extension and integration of APT capabilities with complementary completion technologies would be needed to fully exploit the far more challenging operating environments. New sand control screen and openhole packer technology has been developed, qualified, and successfully deployed following a five year collaborative effort between ExxonMobil and selected suppliers. Together ISAPT screens and SZI packers extend openhole packable length, increase shunt tube redundancy across the entire interval, improve rigsite installation efficiency, and enable true and selective zonal isolation in an openhole completion.
Opportunity Identification
As noted above, one of the drawbacks of open hole gravel pack (OHGP) completions has typically been the inability to shut off undesired water or gas. The ISAPT screens and SZI packers allow an operator to compartmentalize the openhole completion and provide flexibility for future intervention operations. Barry et al. (2007) identified several opportunities where true zonal isolation in openhole gravel packing could be beneficial. Below is a recap of the opportunities. Opportunity 1: Isolating Mid-Zone Water / Gas With current technology, mitigation options to isolate midzone water or gas are quite limited. An operator could decide to complete the well as drilled and accept the constrained hydrocarbon production rates associated with the production
of the undesirable fluid (water and / or gas). Alternatively, the well could be plugged back and re-drilled to just above the identified water / gas zone. Although the undesirable fluid could be avoided, this technique is only partially effective as substantial hydrocarbon reserves from deeper horizons may be permanently lost. Shown in Fig. 1, ISAPT screens, along with SZI packers and specially designed shunted blank pipe, can be configured and run into the openhole to straddle the water / gas bearing intervals with the packers set in low permeability shale zones. After mechanically setting the packers, gravel packing operations commence packing the top zone first, skipping the blank section, and then fully packing the lower zone through shunt tubes. Opportunity 2: Isolating Gas / Water Breakthrough ISAPT screens with SZI packers that are pre-installed at strategic, low permeability intervals in the wellbore make it possible to effectively isolate water or gas breakthrough zones that may evolve over the course of routine production (Fig. 2). Straddle isolation tools are installed through intervention workover operations across problematic zones, resulting in true isolation of the undesirable fluid (gas or water). Opportunity 3: Stacked Pay, Openhole Gravel Packing Completions in stacked pay applications, such as the Gulf of Mexico, have typically been managed by leveraging cased hole completion techniques, such as frac packs (FP), high rate water packs (HRWP), or slurry packs. If the number of pay intervals and / or the distance between target zones is large, the operator is often driven to complete each zone separately. Wellbore diameter, casing size,
cementing, perforating effectiveness, pressure differentials, and fluid loss during the completion phase can all compromise the initial installation success, as well as, the eventual production performance and longterm reliability of the well. ISAPT screens with SZI packers can be used to complete the entire well in a single operation. The ISAPT screens, along with shunted blank pipe and SZI packers, are spaced out as necessary to isolate each pay zone interval and / or straddle zones containing undesirable water or gas. After mechanically setting the packers, gravel packing commences with the top zone packing first. The slurry jumps across each blank section, while fully packing all screened sections below in a single pumping operation. The resulting completion is shown in Fig. 3. Opportunity 4: Isolating Bottom Water When bottom water is encountered during the drilling phase, few operationally attractive and cost effective mitigation options are available. The operator can attempt to set an openhole plug (cement or openhole packer) to isolate the zone. Alternatively, the operator could choose to plug and abandon the openhole interval and then, with better geologic control, drill a sidetrack with the intent of avoiding penetration of the water zone. Regardless of the technique chosen, the required remedial action consumes significant time and results in substantial added cost. Fig. 4 shows how this new technology can be applied. The openhole can be drilled through the entire pay zone until the bottom water is encountered, thus maximizing the productive reservoir interval. The ISAPT screens are run with an openhole packer spaced out and located in a low permeability zone
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above the water contact (identified using the openhole log). After mechanically setting the isolation packer, gravel packing commences and all productive intervals are fully packed above the water zone. Opportunity 5: Selective Production The combination of ISAPT screens and SZI packers enables true zonal isolation in multi-zone, openhole gravel pack completions. In order to selectively produce from or inject into multiple zones, an isolation and flow control tool can be run and positioned inside of the completion string to maximize downhole operating flexibility. The isolation and flow control string (run with the production tubing) is equipped with multiple seals and open / close or adjustable flow ports between the seals as shown in Fig. 5. The seals are set in the polished bore section of each openhole packer. A common flow control involves sliding sleeves operated by either a shifting tool or hydraulic lines. The benefits of downhole operating flexibility include strategic production/injection allocation, water/gas shut-off and selective stimulation.
Design, Development, Qualification Process
and
Screen Development The new internal shunt screen design is an extension of field proven Alternate Path Technology. The ISAPT screens incorporate nine round shunt tubes (six transport tubes and three packing tubes) protected by the wire wrap (Barry 2007, Fig. 6). The wire wrap is applied using direct wrap screen technology (Moen 2001). The transport tubes are nonported and run continuous throughout the length of each joint. The packing tubes are closed at the bottom of each screen joint and contain nozzle rings spaced along the length of the joint approximately 6 ft apart. At each
36 Petroleum Today
nozzle ring, three discharge nozzles are phased 120 degrees. At the top of each joint of screen, a manifold is present where slurry from the transport tubes of the previous joint is redistributed and can flow into any of the transport or packing tubes of the next joint of screen (Yeh 2008, Fig. 7). The transport tubes and packing tubes are no longer coupled as in the previous eccentric 2x2 design. This coaxial manifold increases shunt redundancy and further reduces the risk of shunt plugging, thereby increasing the probability of a successful gravel pack over the entire length of a completion. This feature is particularly important in extreme length completion intervals requiring prolonged gravel packing and allows the bypassing of any localized plugging in a transport tube that may occur. The coaxial manifold not only reduces the risk of plugging a single shunt tube over the length of a completion, but it also simplifies field make-up by eliminating the need for oriented connections and cross-coupling jumper tubes of the eccentric 2x2 design. The ISAPT screen connection is based on a standard premium connection with a concentric outer sleeve facilitating easy rig floor makeup similar to conventional tubing handling operations. By migrating from rectangular to round shunt tubes, the working pressure of the shunt system increases from 3,000 to 6,500 psi. The shunt system of the ISAPT screens has been tested to 10,000 psi. With this increase in working pressure, a length of 5,000 ft can now be packed using xanthan based carrier fluid extending the packable length limit by more than 50%. Extensive component testing, computer modeling and simulation, followed by full scale prototype testing
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were conducted to ensure viability of the technology (Fig. 8). Also, several key objectives were established and met including confirmation of problem-free make-up of multiple screen connections, the effectiveness of the newly developed equipment handling system, enhanced screen running efficiency, verification of the shunt tube friction pressure models, as well as confirming the ability to obtain a complete gravel pack across the entire length of the internal shunted screens in a high angle wellbore.
Packer Development
The technical challenges associated with the openhole packer primarily centered on a meeting a few fundamental functional requirements. First, it was deemed essential that the openhole packer needed to be fully actuated and set prior to initiation of gravel pack operations. Packers set in the openhole after gravel packing with high permeability proppant, may not be able to obtain a competent pressure containing seal and thus prove to be a conduit for continued production of undesirable water or gas over the production life of the well. Although a simple barrier to flow may be adequate in some applications, true zonal isolation and pressure sealing capability was desired to provide maximum longterm wellbore functionality. Secondly, the packer would need to be capable of setting and sealing in an enlarged, irregularly shaped openhole section. Data obtained from numerous openhole gravel packs installed in fields around the world confirmed our concern that drilling in weak, unconsolidated formations can result in substantially enlarged boreholes, often 15 to 30% greater than gauge hole, even when state-of-the-art
drilling fluids and drilling techniques are employed. Additionally, our common practice when installing APT equipment has been to ream while drilling the openhole section, typically using an 82/1- x 92-/1-in. bit and reamer. This provides a larger hole to facilitate screen installation, provide adequate proppant sheath around the screens, and provide a larger hole to maximize reservoir production potential. The design of the SZI packer employs two opposing rubber cup seals that provide bi-directional sealing in the open hole while allowing an alternate path for gravel packing after setting the packer (Fig. 9, Hecker 2011). The cup seal is activated using energy stored in an atmospheric chamber, which is retained by an interlock system. Once the interlock system is released, the force generated by hydrostatic pressure acting on a piston area associated with the atmospheric chamber begins the packer element setting sequence. To avoid shock loading, the speed of packer set is carefully controlled by metering the fluid into the atmospheric chamber. During the setting sequence, the packer is first centralized which aids the ability of the cup to fully set and distribute the load on the seal generated by differential pressure across the packer elements. The design of the cup element allows a seal to be formed in an oval or irregularly shaped hole using a 24âindependent point, clutch protected deployment system. The clutch mechanism is designed such that it imparts a controlled force into the rubber element sufficient to form the seal against the borehole wall, while avoiding damage to the cup should excessive load be applied during the setting process (Hecker 2011).
QualiīŦcation â Field Installation Strategy and Results After the completion of an extensive testing and qualification program of both the ISAPT screens and SZI packer, the following objectives were established for the initial field installations: ī¸ Verify ease of the new screen handling / make-up equipment during field installation ī¸ Assess ISAPT screen make-up times and compare to that of the eccentric 2x2 APT screens ī¸ Verify drag estimates for running a completion equipped with ISAPT screens and SZI packers ī¸ Verify proper setting of the SZI packer ī¸ Assure full gravel pack placement using the ISAPT screens and SZI packer ī¸ Verify shunt tube friction of the ISAPT screens and compare to eccentric 2x2 system field data and ISAPT qualification tests A phased, three-step installation program, with ever increasing complexity and specific well objectives, was developed and executed to fully qualify the system (Hecker 2010; Hecker 2011). ī¸ Phase I: Install ISAPT screens (without packer) in a long (2,200 ft), high angle (90°) openhole gravel pack (OHGP) Successfully achieved in Angola (September 2009) â All screens made up properly â Successful use of primary, high capacity equipment handling system for long length applications â Screens successfully run to TD, drag models verified â Complete gravel pack â Verified shunt friction pressure as expected (1.6 psi/m at 5.1 bpm) ī¸ Phase II: Install ISAPT screens
with a single SZI packer in a short (140 ft), low angle OHGP Successfully achieved in Chad (November 2010) â Packers and screen successfully run to TD â Successful use of alternate, equipment handling system for short length applications â Positive indication of packer setting â Evidence of complete gravel pack above packer prior to diverting to shunts â Interval below packer fully gravel packed through shunt tubes â Complete gravel pack ī¸ Phase III: Install ISAPT screens with two SZI packers in a long (2,743 ft), high angle (88°) OHGP Successfully achieved in Angola (February 2011) â Packers and screen successfully run to desired depth â Both packers successfully set â Shunt tube friction pressure response as expected â Shunt tube responses provided clear indication of packing below each packer â Gravel placed through the shunt tubes as expected â Complete gravel pack The performance of the ISAPT screens, SZI packers, and handling equipment met or exceeded all key objectives established prior to the installations and validated the robustness and capabilities of the system. The initial field installations confirmed that: ī¸ All of the ISAPT screens and SZI packers can be made up properly and efficiently ī¸ The newly designed, fit-for-purpose, equipment handling systems were
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ī¸
ī¸
ī¸
ī¸
ī¸
effective The packer shifting tools successfully initiated the packer setting sequence by shearing the release sleeves and allowing hydrostatic pressure to first centralize and then set the packer elements Multiple openhole packers can be activated and successfully set in a well The shunt friction pressure through the entire screen and packer system was as expected Successful gravel packing of the entire openhole annulus both above and below the SZI packers 5,000+ ft gravel pack completions are achievable based on pressure response and friction loss through the shunt system
These initial installations have proven to be the confirmation of the strategic vision of extreme length, openhole gravel pack completions with true and selective zonal isolation. These installations have also provided the validation to pursue further design and development enhancements and the confidence to embark on more challenging field installation opportunities.
Future Applications
The success of the initial field applications, the effectiveness of the openhole packers, and the verification of the pressure response through the ISAPT shunt system has confirmed the viability of extreme length, openhole gravel packing with zonal isolation to 5,000+ ft. This effort results in a substantial extension beyond what has been achievable to date with the conventional 2x2 APT screen system (Hecker 2010, Fig. 10). This extension has been largely driven by the increased pressure capacity of the shunt system and the ability to develop an openhole packer that provides true zonal isolation.
38 Petroleum Today
Continued industry efforts to identify and refine various gravel pack carrier fluid systems (Samyak, 2010) suggests that the packable length of the ISAPT screen system can likely be further extended to beyond 6,000+ ft. This is by virtue of new gravel pack carrier fluids that have inherently lower unit friction pressures than the systems currently being used by some operators. Openhole gravel pack completions utilizing ISAPT screens and SZI packers have enabled true zonal isolation in the wellbore annulus. Further enhancements that are currently being pursued include selective production control of multiple pay zones by incorporating sliding sleeves and inflow control devices (ICD) into the ISAPT screen design. This emerging technology, historically used in standalone screen or cased-hole completion applications, could be incorporated into the ISAPT openhole gravel pack completion equipment to provide selective, production flow control capability. With advancements in wireline tractor, coiled tubing, and the light weight intervention vessel capabilities currently being progressed for deepwater applications, the ISAPT with ICD and sliding sleeve technology is expected to enable enhanced reservoir management capabilities, while providing efficient and cost effective through tubing intervention options to control the production of undesired fluids over the life of the well. Another option to facilitate the flow control capability in the ISAPT system is to incorporate ICD capabilities into an isolation string run inside the screen basepipe (Hecker, 2011). Both sliding sleeves and inflow control devices, along with appropriately spaced seals, can be incorporated into an isolation string. The isolation string is then run
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inside the basepipe of ISAPT screens to position the seals across from either the SZI packers or the shunted blanks (Fig. 5) to enable subsurface flow control in conjunction with the benefits and reliability of openhole gravel pack completions.
Conclusions
ISAPT screens and SZI packers deliver differentiating completion capabilities that extend gravel packing length and provide true and selective zonal isolation capabilities in an openhole gravel pack completion. Together, they provide the operator with advanced completion tools that enhance installation efficiency and enable improved reservoir management opportunities over the lifecycle of the well. Development and further expansion of the ISAPT platform will continue to provide the operator with a wide array of innovative, fit-for-purpose, and field proven completion tools that can be employed to meet the specific functional requirements of the well.
Acknowledgements
The authors would like to thank the management of ExxonMobil Development Company and ExxonMobil Upstream Research Company for allowing the publication of this paper. Exxon Mobil Corporation has numerous subsidiaries, many with names that include ExxonMobil, Exxon, Esso and Mobil. For convenience and simplicity in this paper, the parent company and its subsidiaries may be referenced separately or collectively as ÂĢExxonMobil.Âģ Abbreviated references describing global or regional operational organizations and global or regional business lines are also sometimes used for convenience and simplicity. Nothing in this paper is intended to override the corporate separateness of these separate legal entities.
References
Barry, M. D. et al. 2007. Openhole Gravel Packing with Zonal Isolation. Paper SPE 110460 presented at the SPE Annual Technical Conference and Exhibition, Anaheim, November 1114-. Hecker, M. T. et al. 2004. Reducing Well Cost by Gravel Packing in Non-aqueous Fluid. Paper SPE 90758 presented at the SPE Annual Technical Conference and Exhibition, Houston, September 2629-. Hecker, M. T. et al. 2010. Extending Openhole Gravel Packing Capability: Initial Field Installation of Internal Shunt
Alternate Path Technology. Paper SPE 135102 presented at the SPE Annual Technical Conference and Exhibition, Florence, Italy, September l9 - 22. Hecker, M. T. et al. 2011. First Installation of Alternate Path Openhole Packer Providing True Zonal Isolation in Openhole Gravel Packs. Paper SPE 146361 presented at the SPE Annual Technical Conference and Exhibition, Denver, Colorado, October 30 November 2. Moen, T. et al. 2001. A New Screen Concept: No Longer the Weakest Link of the Completion Screen. Paper SPE 68937 presented at the SPE European
Fig. 1âIsolating Mid-Zone Water / Gas.
Formation Damage Conference, The Hague, May 2122-. Samyak, J. et al. 2010. Friction Pressure Performance of Commonly Used Viscous Gravel-Packing Fluids. Paper SPE 134386 presented at the 2010 SPE Annual Technical Conference and Exhibition, Florence, Italy, September 19 - 22. Yeh, C. S. et al. 2008. Unlocking the Limits of Extreme Length in Alternate Path Gravel Packing. Paper IPTC 12549 presented at the 2008 International Petroleum Technology Conference, Kuala Lumpur, Malaysia, December 3 - 5.
Fig. 2âIsolating Water / Gas Breakthrough.
Fig. 4âIsolating Bottom Water. Fig. 3âStacked Pay, Openhole Gravel Packing.
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Fig. 6âCross-Section of ISAPT Screen. Fig. 5âSelective Production with Inner String and ICDs.
Fig. 7âISAPT Design: Multiple Shunt - Manifold System. 40 Petroleum Today
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Fig. 8âFull Scale Gravel Pack Simulation.
Fig. 9âShunt Zonal Isolation (SZI) Packer.
Fig. 10âOpenhole gravel packing with Alternate Path Technology Actual APT experience to date and projected ISAPT capability.
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Egyptian Natural Gas Holding Company ÂĢEgasÂģ 2012 International Bid Round Main Contract Terms And Conditions 1. TYPE OF CONTRACT: The Contract shall be a Production Sharing Agreement âPSAâ Model. Contractor undertakes all risk to explore and develop both Gas and Crude Oil.
In case Contractor elects to dispose all or part of its production share of Gas and excess cost recovery Gas (if any) by itself for the local market, Contractor shall bear and pay Royalty and Egyptian Income Tax for such Gas.
2. PARTIES TO THE CONTRACT:
5. CONTRACT PHASES:
The parties to the PSA shall be The Government of Arab Republic of Egypt, The Egyptian Natural Gas Holding Company (EGAS) and Contractor.
a. EXPLORATION PHASE: (Competitive)
3. CONTRACTOR: Contractor could be either an individual Petroleum Exploration Company or a group of companies. Contractor shall submit a separate offer for each block if it bid for more than one block. 4. ROYALTY & INCOME TAXES: EGAS shall bear and pay out of its share, on behalf of the Contractor: a. Royalty. b. The applicable Egyptian Income Tax.
44 Petroleum Today
The duration of the total Exploration Phase shall be specified in the offer, for Blocks (1, 2, 3, 4, 5 and 15) shall not exceed (6) years and shall be divided into two Exploration Periods and for Blocks (6, 7, 8, 9, 10, 11, 12, 13 and 14) could be up to eight (8) years and may be divided into two or three Exploration Periods.
No. 66 of 1953, as amended ,and the Contractor should submit also the Development Lease Application which should comprise the extent of the whole area capable of production to be covered by the Development Lease and mutually agreed upon by EGAS and Contractor, the destination of the disposed Petroleum, the Petroleum reserves and the Commercial Production Commencement and subject to the approval of the Minister of Petroleum.
b. DEVELOPMENT PHASE:
In case of requesting a Gas Development Lease, the application should include in addition to what stated above, the Gas price which shall be agreed upon by EGAS and Contractor on the base of technical and economic factors for Developing area before the Minister of Petroleum approval of the Development Lease.
Following a Commercial Discovery of Oil or Gas, the Contractor should submit to EGAS a Development Plan including the clearance plan of the Development area ,abandonment procedures in accordance with Law
The duration of each development lease whether for Oil or Gas shall be twenty (20) years from the date of the development lease approval, and it may be extended up to 5 years âFive Years Extensionâ (unless otherwise agreed
- November 2012
upon by EGAS and contractor In case of Blocks 8, 9, 10, 11, 12, 13 and 14) upon Contractorâs written request supplemented by a complementary Development or Production Plan to EGAS and subject to the Minister of Petroleum approval. In case Contractor failed to submit the Development Lease Application within one (1) year (in case of onshore blocks) or three (3) years (in case of offshore blocks) from the Date of Contractorâs notification to EGAS of Commercial Discovery of Oil or Gas, as the case may be, (unless otherwise agreed upon by EGAS) the Contractor is committed to immediately surrender the area containing such Oil or Gas reserves to EGAS. In the event no Commercial Production of Oil in regular shipments or Gas in regular deliveries, have started from any Oil or Gas Development Lease in accordance with the specified items in the granted Development Lease, the Contractor shall, immediately surrender the petroleum reserves and relinquish the relevant Development Lease(s) (unless otherwise agreed upon by EGAS (. Such relinquished area is considered to be contained of the Contractorâs relinquishments obligations at the end of the then current Exploration phase;if any. 6. RELINQUISHMENT: (Competitive) The Contractor shall relinquish at the end of the first Exploration Period a minimum of ----% (not less than 30%) of the original area in a single unit, then: - The remaining area shall be relinquished by the end of the second Exploration Period (except those parts that have been converted into Development Lease(s)) in case the Exploration Phase divided into two Exploration Periods.
or - The Contractor shall relinquish a minimum of ----% (not less than 20%) of the original area in a single unit at the end of the second Exploration Period and then the remaining area shall be relinquished at the end of the subsequent Exploration Period (except those parts that have been converted into Development Lease(s)) In case the Exploration Phase divided into three Exploration Periods. In any development lease, whether for Oil or Gas, the Contractor upon EGAS review shall relinquish development blocks not producing or not contributing to production at the end of three (3) years period from the Commercial Production Commencement Date. Following to that there will be a periodical revision every three (3) years during the development lease period, in order to relinquish any development block(s) not producing or not contributing to production in the same development lease. 7. MINIMUM WORK PROGRAM AND FINANCIAL OBLIGATIONS: (Competitive) For each Exploration Period, the bidders shall offer the minimum exploration program (seismic survey and number of exploratory wells) and its expected relevant financial commitments. Any technical activities and actual financial expenditure approved by EGAS in excess of the minimum obligations during any Exploration Period shall be carried forward to the subsequent Exploration Period and offset against the minimum technical and financial commitment for such Exploration Period.
Upon EGASâ notification and before the final signature date of the Agreement; the Contractor shall submit a letter of Guarantee for the minimum financial commitment of the first Exploration Period. A similar letter(s) of Guarantee shall be required if Contractor elects to enter the subsequent Exploration Period(s). 8. COST RECOVERY: (Competitive) Contractor recovers its cost out of âĻ percent (âĻ %) of the total production. Exploration and Development expenditures shall be recovered within a minimum of (âĻ) years, but not less than five (5) years. 9. EXCESS COST RECOVERY: - In case of Blocks (1, 2, 3, 4, 5, 6, 7 and 15) the excess cost recovery ,if any, shall be belong to EGAS. - In case of Blocks (8, 9, 10, 11, 12, 13 and 14) the excess cost recovery (if any) shall be Competitive and divided between EGAS and Contractor provided that EGASâ share should not be less than 75%.
10. PRODUCTION SHARING: (Competitive) After deducting the cost recovery percentage; the remaining percentage of petroleum shall be divided between EGAS and Contractor based on Brent Price (quarterly average) and according to the Production tranches shown in the following table which the bidder shall fill abiding by the specified tranches and submit in the bid provided that EGASâ share should not be less than 60% at Brent Price less than or equal 40 US$ at the 1st Production trench.
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A. EGASâ Share of Crude Oil and Condensate :
B. EGASâ Share of Gas and LPG :
Crude Oil produced and saved under this Agreement and not used in Petroleum operations. Barrel of Oil Per Day (BOPD) (quarterly average) Brent Price US$/bbl
less than 5 000 BOPD
from 5 000 BOPD and less than 10 000 BOPD
from 10 000 BOPD and less than 20 000 BOPD
Less than or Equal to 40 US$
Brent Price US$/bbl
from 100 less than Million SCFPD 100 Million and less than SCFPD 250 Million SCFPD
from 250 Million SCFPD and less than 500 Million SCFPD
equal to or more than 500 Million SCFPD
Less than or Equal to 40 US$
More than 40 US$ and less than or equal to 60 US$
More than 40 US$ and less than or equal to 60 US$
More than 60 US$ and less than or equal to 80 US$
More than 60 US$ and less than or equal to 80 US$
More than 80 US$ and less than or equal to 100 US$
More than 80 US$ and less than or equal to 100 US$
More than 100 US$ and less than or equal to 120 US$
More than 100 US$ and less than or equal to 120 US$
More than 120 US$ and less than or equal to 140 US$
More than 120 US$ and less than or equal to 140 US$
More than 140 US$ and less than or equal to 160 US$
More than 140 US$ and less than or equal to 160 US$
More than 160 US$ and less than or equal to 180 US$
More than 160 US$ and less than or equal to 180 US$
More than 180 US$ and less than or equal to 200 US$
More than 180 US$ and less than or equal to 200 US$
More than 200 US$
More than 200 US$
11. BONUSES: ânon recoverableâ a. SIGNATURE BONUS: (Competitive) It shall be transferred to EGAS account upon EGASâ notification to the Contractor after the issuance of the relevant law and before Signing the Concession Agreement. b. DEVELOPMENT LEASE BONUS: Contractor shall pay to EGAS as a Development Lease Bonus the sum of US$ 25 000 for each Development Block (1 x1 ) on the approval date of each Development Lease.
MMUS$ 5,000 BOPD or its equivalent -------------------------10,000 BOPD or its equivalent -------------------------20,000 BOPD or its equivalent -------------------------25,000 BOPD or its equivalent -------------------------d. FIVE YEAR EXTENSION BONUS: (Competitive) Five year extension bonus shall be due upon the approval date of The Government on the Contractorâs request. e. TRAINING BONUS: (Competitive)
c. PRODUCTION BONUS: (Competitive) Contractor shall pay to EGAS the following production bonuses at the following production rates:
46 Petroleum Today
equal to or more than 20 000 BOPD
Gas and LPG produced and saved under this Agreement and not used in Petroleum operations. Standard Cubic Feet per Day (SCFPD) (Quarterly average).
During any exploration period, the Contractor shall pay to EGAS the sum of US$ ------ (not less than US$ 150,000) at the beginning of each financial year to cover the training of
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EGASâ employees. f. ASSIGNMENT BONUS: The following Assignment Bonus shall be paid by Contractor to EGAS on the Governmentâs approval date of each assignment and upon EGASâ notification to the Contractor: âĸ The Assignment Bonus in case of assignment to a third party(ies) shall be according to the following: I. During any Exploration period(10%) of the value of the total financial commitment of the then current Exploration period and according to the assigned percentage ; II. During any Development phase, (10%) of the value of each assignment deal which could be any of the following: âĸ The financial value to be paid by the Assignee to the Assignor; or
âĸ The financial value of shares or stocks to be exchanged between the Assignor and the Assignee; or âĸ The financial commitments for the development technical programs; or âĸ The financial value of the reserves, to be swapped between the assignor and the assignee, from the Development Lease(s) areas; or âĸ Any other type of deal to be declared by the Contractor. III. In case of assignment during an Exploration Period and after discovery of a Commercial (Oil or Gas) Well or a Development Lease was granted to the Contractor of an area; the value of the assignment bonus will be the sum of the value of both Assignment Bonuses mentioned in (i & ii) above. âĸ In case of each assignment to an affiliated company (ies) of the same Contractor member, the Assignment Bonus shall be the Sum of US$ 150000. 12. ASSIGNMENTS Neither Contractor nor Contractor member(s) may assign to a person, firm, corporation or affiliated company in whole or in part, any of its rights, privileges, duties and obligations under the contract without the written approval of the Government. Except in case of assignment to an affiliated company of the same Contractor member, priority shall be given to EGAS to obtain Contractorâs share intended to be assigned. The assignor must submit all reasonable documents that evidence the assignee>s financial and technical competence which will be subject to EGASâ and concerned authoritiesâ acceptance.
13. Disposition of Gas , LPG and Crude Oil: - Priority shall be given to meet the local market needs for Gas, LPG and Crude Oil as determined by EGAS. - CONTRACTOR may elect to dispose all or part of its Gas of production share and excess cost recovery (if any) by itself for the local market, provided that the CONTRACTOR should submit the application to EGAS to obtain the A.R.E. competent authoritiesâ approval on Gas quantities and price. And CONTRACTOR shall bear Egyptian income tax and royalty for such Gas. - In case EGAS and Contractor agree on exporting Gas, they should obtain the A.R.E. competent authoritiesâ approval on the Gas quantities allocated for export and the price for such Gas. 14. VALUATION OF GAS: 1. In case the Contractorâs share of gas (cost recovery, production share and excess cost recovery (if any)) is disposed of for the local market; according to a Gas Sales Agreement between EGAS and CONTRACTOR (as sellers) and EGAS (as buyer) it shall be valued, delivered to and purchased at a price, which should be agreed upon by EGAS and Contractor on the basis of technical and economic factors for Developing area such as water depth, reservoir depth, the actual expenditure and expected investments over the Development project lifetime, proven and probable Gas reserves , internal rate of return on investment to achieve the interests of the parties and the prevailing applicable Gas
price in the concessions of similar conditions and stated in the relevant development lease before the Minister of Petroleum approval of the Development Lease . 2. In case gas is disposed of for export by EGAS or EGAS and Contractor, gas shall be valued at the net back price. 3. Take or pay & deliver or pay shortfall gas concepts shall be applied. 15. MANAGEMENT OF OPERATIONS During the exploration Periods an Exploration Advisory Committee consisting of equal number of representatives from Contractor and EGAS, shall discuss and recommend proposed annual work program and budget to EGAS for approval. During a period of not less than three (3) months prior to commercial production commencement stated in Development Lease for Crude Oil or Gas, EGAS and Contractor shall meet and agree on the formation of the Joint Venture Company that will conduct the operations. The name of Joint Venture Company will be approved by The Minister of Petroleum. 16. Local Preference of GOODS AND SERVICES The Contractor shall give preference to the use of Egyptian Goods and Services (design, material, construction, engineeringâĻetc.) subject to quality, availability and competitive pricing. 17. APPLICABLE LAW AND ARBITRATION The Egyptian laws shall be the applied law in enforcing the terms of the Agreement. Arbitration procedure shall be governed by the Arbitration rules of the Cairo Regional Center for International Commercial Arbitration.
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upporting petroleum products from gasoline and gas pipes is still formatting largest number in the budget support provided by the government to its citizens as at the same time is a bigger challenge for successive governments as a big burden on the state budget because it ranks īŦrst in terms of the volume of targeted support, according to data on Planning Institute and many statistics and economic and īŦnancial centers that show that the value of Subsidizing petroleum products bill has jumped dramatically over the past ten years increased the value of this support from 10.2 billion pounds in 2001 to reach 40.1 billion pounds in 2006 and then jumped to 62.7 billion pounds in 20102011/ and more than 95 billion in budget īŦscal year 2011- 2012 before being reduced by the Military Council to 70 billion in 20122013although the value of the īŦscal bill is more than 114 billion pounds due to the surge in world oil prices and where this increase in numbers subsidizing petroleum products to the continuous increase in domestic consumption with insufīŦcient domestic production, particularly of butane and diesel products, forcing the government
50 Petroleum Today -
represented by the Ministry of Petroleum and Mineral Resources to purchase foreign equity by the world prices to meet the growing needs of the citizens. ÂĢRationalizing energy subsidies from petrol and gas has become inevitable ÂĢ This is conīŦrmed by reality now and which is witnessing increasing terrible budget deīŦcit of the country and the growing appetite of traders and brokers and smuggling maīŦa from achieving īŦctional proīŦts through trade in subsidized petroleum products and sell it in the black market and not least because of the dumping Devices Security and control from time to time on the gangs and individuals on charges of smuggling of petroleum products ÂĢdiesel and gasolineÂģ in order to sell them on the black market.
November 2012
There were certain indicators that mechanisms rethinking support for energy and rationalization become irreversible in the new year as it became clear when the Military Council set the īŦnancial budget for the new year and exit the draft budget with a reduction of petroleum products support about 25 billion pounds which included 2012 â 2013 budget allocation of 70 billion pounds for petroleum products instead of 95 billion pounds in the previous budget, which rose with the actual use to more 114 billion pounds. This put President Mohamed Morsy, a dilemma for the new government to choose between the application of the policy to rationalize the support of petroleum products and carrying what may result from concern on the street or to continue in the form of temporary support with an
additional request to adopt the budget. In practice the government agreed in last November to raise support for petrol 95 octane and increased gasoline prices 95 (octane) for rates up to actual cost as the government announced the introduction of gasoline distribution through coupons beginning of next April through the distribution of quotas for cars even 1600 C. C. In what could be called the introductions and signs to rationalize support for petroleum products various remarks came from ofīŦcials and Ministries of Petroleum and Finance in the recent period to conīŦrm that there is no escape from the rationalization of energy subsidies through the reform and restructuring of system distribution of petroleum products backed gas medicine aware and gasoline and diesel fuel and gas pipes.
Minister of Petroleum Engineer Osama Kamal said that the delay in the application of rationalizing energy subsidies cost more than an additional 40 billion pounds over the provisions included in this yearâēs budget to support the petroleum products Which is estimated at 70 billion pounds. The minister pointed out that the previous allocations indicate that each quarter in the year reached its share of 17.5 billion pounds while actually recorded in the īŦrst quarter of īŦscal year being alone 28 billion and it is expected that the same number in the second quarter, in the case of the survival of the situation for what it is without support mechanisms to rationalize petroleum products. He added that it will not come down in the support value listed in the budget of this īŦscal year, where
it had been placed on the basis of the start of restructuring support from early last July, which has not yet been partly due to the lack of completion of the studies on how and mechanisms rationalize fuel subsidies, and how it could reach beneīŦciaries. Minister of Finance Dr. Momtaz Al-Saeed remarks are the other came to conīŦrm that the rationalization of energy subsidies is essential, he said in numerous press statements that the support of petroleum products go from about 40 billion pounds for brokers and intermediaries and does not reach the target groups. He added that support gets about 27% of the size of the countryâs budget, pointing out that it has reached the stage of risk and needs to rationalize policy support, Minister of Finance added during the session for the Shura Council, which was discussing the
Petroleum Today -
November 2012
51
initial report of the Committee on Financial and Economic Affairs on ÂĢstructured supportÂģ that the country is now considering how to access support to those who deserve it real, saying that owners of wealth must take petroleum materials without the support of that will raise for petrol 95 during days. He also said ÂĢThe government is now looking to everyone who deserves to pass on his support tube butane as well as the case for support gasoline and diesel.Âģ Engineer Hany Dahy Executive President of the General Authority for Petroleum has said in a press statement that an agreement was reached between government ministries to begin the experience of distributing coupons butane generally on the level of the Republic before the onset of the winter season in which they appear the problem of a shortage in supply of butane clearly.
He revealed the intention of the Petroleum identify consumers of diesel accurately, from peasants and agricultural pumps through microbuses drivers and factories to ensure accurate mapping allows the body to select different rates for diesel and calculate the impact of any steps to increase prices.
He added that the Petroleum Authority has conducted detailed studies about the devaluation of support by 50% over 3 years and bringing it to 20% after 5 years but requires the participation of community before they are approved, even if it took a referendum, warning situation continues as it is.
As for the mechanism of butane pipe rack system will be concluded coupons where Investors Association LPG Bottling plants had an agreement with ÂĢMinistry of SupplyÂģ, ÂĢEGPCÂģ andÂģ PETROGASÂģ to start the application Coupon System during the coming period to cover all parts of the Republic.
The mechanisms included energysaving plan for gasoline, Minister of Petroleum Engineer Osama Kamal said that determining the quantities of gasoline distributed through smart cards will be subject to the type of car and the gasoline used and price differences between the types of gasoline used.
Dr. Mohamed Saad El-din, head of Investors Association factories īŦll gas - during a meeting of the Association said that the system is primarily designed to deliver support to those who deserve it, away from the black market and bullying that we see in the crisis distribution cylinders, which rears its head at this time of all year.
Minister of Petroleum explained that it is likely to be 1800 liters per year, 10 thousands liters for buses and trucks used for diesel.
He noted that the Coupon System will be distributed to ration cards so that you get every family number
52 Petroleum Today -
November 2012
three individuals on the coupon to exchange discs and īŦve members receive on 2 coupons to exchange cylinders per month, explaining that the value of this coupon īŦve pounds, compared the actual cost of the cylinder, and up to 55 pounds is the size of cost the Coupon will be distributed for the average consumer to 25 pounds are also supported by 50% of the state, which will end the crisis completely. He added that the volume of our consumption nearly 4 million tons butane annually locally producing almost two million tons are imported almost two million tons from abroad and price ranges between $700 and $900, which means that the Country bears approximately 4 to 5 thousand pounds per ton for a total cost of 15 billion pounds worth of cylinderâs support up to 350 million cylinders per year. Saad El-Din asked Dr. Kandil government to support consumer and not the item pointing that the system is placed globally, pointing out that stakeholders seek to impede the grounds that it represents a burden on low-income and poor which is not true.
Egyptâs exports of natural gas raised about 7.54% in 9 months
I
nformation and support center and decision makers of the Council of Ministers revealed rise of Egyptâēs exports of natural gas and its derivatives during the īŦrst nine months of this year, including representing 7.54% to the tune of one billion and 418 million dollars compared billion and $ 319 million during the period the same from 2011 to rise by $ 99 million. The Center said in its economic and social indicators bulletin economic that the rate of production of natural gas during the period from January to September 2012 rose slightly by 0.05% to up to 34 thousand and 497 tons compared to 34 thousand and 481 tons during the comparable period. And the bulletin showed that domestic consumption of natural gas increased during the period by 74.7% to 29 thousand and 691 tons against 27 thousand and 558 tons during the īŦrst nine months of 2011 also increased consumption of electricity from natural gas consumers during this period of the year by about 2.1% to a
record 3 t 59% versus 1 t 58% during the same period of last year. In the crude oil sector and petroleum products bulletin pointed to fall in the value of Egyptian exports of crude oil and petroleum products during the period from January to September last two rose 2.14% to the tune of about 4,000,196 thousand compared to $ 4,000,687 thousand dollars during the īŦrst nine months of the year past. The bulletin also noted the rise in crude oil production and condensate
and LPG by 3 t 1% during the īŦrst nine months of this year to record about 26 thousand and 453 tons against 26 thousand and 121 tons during the comparable period. The bulletin pointed out indicators of social and economic status increase domestic consumption of petroleum products, including 5.1 per cent to reach 24 thousand and 606 tons in the period from January to September 2012 compared to 24 thousand and 245 tons during the corresponding period of 2011.
Petroleum Today -
November 2012
53
Atlas Copco launches a full range of nitrogen and oxygen generators Emad Fawzy, Regional Business Line Manager - Industrial Air Division emad.fawzy@eg.atlascopco.com Mobile: +2 0122 2408866 Ahmed Helmy, Product Marketing Manager - Industrial Air Division ahmed.helmy@eg.atlascopco.com Mobile: +20 010 1011 105 Atlas Copco introduces 3 ranges of nitrogen and oxygen generators for on-site gas generation. With these innovative gas generators, companies can expand their existing compressed air installation to generate their own nitrogen and oxygen. An independent supply of RQ VLWH JDV FDQ UHDOL]H VLJQLÃÅŧFDQW economies of scale as well as save on operational costs. Atlas CopcoÃĸ€™s new range of on-site gas generators are designed to meet the highest purity standards and run economically for both large and small applications. On-site gas generation is more sustainable and cost-efÄÅš cient than gas delivered in cylinders or bulk liquid supply, as it eliminates the operational and administrative costs of ordering, transporting, storing and delivering the bottles or bulk liquid into cryogenic tanks. With an independent supply of nitrogen and oxygen, companiesÃĸ€™ gas demand is always met in time, at the lowest cost. Koen Lauwers, Vice-President Marketing of Atlas CopcoÃĸ€™s Industrial Air Division comments: Ãĸ€œWith these new ranges of gas generators, our customers will dramatically increase their productivity. We help them to discover untapped saving potentials through economy of scale: combining their compressed air systems with the production of nitrogen and/or oxygen, serving their speciÄÅš c needs.Ãĸ€?
Membrane nitrogen generators for HDV\ FRVW HIÃÅŧFLHQW JDV JHQHUDWLRQ Atlas CopcoÃĸ€™s membrane nitrogen generator (the NGM) is, thanks to its high efÄÅš ciency and reliability, ideal for applications such as ÄÅš re prevention, tire inÄÅš‚ation, tank and pipeline cleaning, and many other oil and gas, mining and marine applications. The NGM uses membrane air separation to produce nitrogen. A bundle polymer ÄÅš ber acts as a membrane that allows nitrogen to pass and other gases (like oxygen, water vapor and carbon dioxide) to permeate. Compressed air goes in at the inlet and enriched nitrogen comes out at the other end of your nitrogen generator. Membrane technology generates nitrogen with an adjustable purity and ÄÅš‚ows up to 500 mÃÅ/h. PSA nitrogen generators for the highest purity For those applications that demand high purities of nitrogen (up to 99,999%), the Nitrogen Generator (NGP) with PSA technology is the recommended solution. Based on the Pressure Swing Adsorption (PSA) technology, carbon molecular sieves adsorb oxygen molecules from compressed air. The Nitrogen Generator has two connected towers that work together to produce an almost continuous ÄÅš‚ow of nitrogen
gas. The result: nitrogen purity levels up to 99,999% for ÄÅš‚ows up to 1100 NmÃÅ/h. Typical applications of the NGP are packaging, plastic molding, metallurgy, purging analyzers, electronics, fruit storage and food and beverage. PSA oxygen generators for reliable, on-site oxygen Oxygen is vital to processes in the medical world, in waste water treatment, ÄÅš sh farming and ozone production. The OGP oxygen generator also makes use of PSA technology, with zeolite pellets that act as adsorbent. The output is oxygen with an adjustable purity between 90% and 95%, at ÄÅš‚ows up to 200 NmÃÅ/h. On-site nitrogen and oxygen as part of a total solution Atlas Copco now offers onsite gas generators which can be directly combined with an existing compressed air installation. With an independent supply of nitrogen and oxygen, companies can start saving on the operational and administrative costs of bulk and cylinder gas delivery. These 3 ranges of nitrogen and oxygen generators offer exactly the ÄÅš‚ows and purities that different industrial applications need. This way, Atlas Copco becomes a one-stop-shop for compressed air, gas and service.
Atlas Copco Equipment Egypt
Atlas Copco Equipment Egypt P.O. Box 520 El Obour market Cairo, Egypt
Visitors Adress : El Obour city 1st Ind. zone- part 7 block 13024 Cairo, Egypt
54 Petroleum Today -
November 2012
Phone: +202 46100337 / 8 - 46101770 /1 Fax:+202 46100341 www.atlascopco.com.eg
Reg. No.: 10411 Reg. OfÄÅš ce: Nasr City
Industry At A Glance by Ali Ibrahim Table (1) World Crude oil Supply. Supply (million barrels per day).
U.S (50states)
OECD(1)
North sea(2)
OPEC(3)
OPEC (4)
world
9.62 9.50 9.31 9.82 9.98 10.42 10.66 10.76 10.72 10.75 10.76 10.67 10.86 10.83 10.76
21.26 21.08 21.55 21.00 21.52 21.16 22.12 22.38 22.51 22.50 22.28 22.36 22.37 22.18 22.27
3.07 2.95 2.86 3.55 3.07 3.34 3.41 3.29 3.33 3.42 3.33 3.32 3.25 3.12 3.19
34.63 34.91 34.95 35.12 35.50 35.27 36.11 36.30 36.33 36.49 36.65 37.13 36.94 36.50 36.61
33.05 33.1 33.15 33.20 33.50 33.12 34.2 34.8 34.1 34.9 34.95 35.22 34.6 34.75 34.96
86.19 86.19 86.02 86.60 86.52 87.48 88.80 89.36 89.25 89.03 88.99 89.41 89.27 88.58 88.98
May 2011 June July August September October November December Jan.2012 February March April May June July Source EIA
ÂĢOil SupplyÂģ is deīŦned as the production of crude oil (including lease condensate). Natural gas plant liquids, and other liquids, and reīŦnery processing gain. NA = no data available (1) OECD = Organization for Economic Cooperation and Development: Australia, Austria, Belgium, Canada, the Czech Republic, Denmark, Finland, France, Germany, Greece, Hungary, Iceland, Ireland, Italy, Japan, Luxembourg, Mexico, the Netherlands, New Zealand, Norway, Poland, Portugal, Slovakia, South Korea, Spain, Sweden, Switzerland, Turkey, the United Kingdom, and the United States. (2) North Sea includes offshore supply from Denmark, Germany, the Netherlands, Norway, and the United Kingdom. (3) OPEC = Organization of Petroleum Exporting Countries: Algeria, Angola, Ecuador, Iran, Iraq, Kuwait, Libya, Nigeria, Qatar, Saudi Arabia, the United Arab Emirates, and Venezuela. (4) OPEC = Organization of Petroleum Exporting Countries doesnât include Angola.
56 Petroleum Today -
November 2012
Table (2) World Proved Crude Oil Reserves, January 1, 2007 - January 1, 2012 Estimates. (Billion Barrels)
Region
2007
2008
2009
2010
2011
2012
212.534
211.559
209.910
NA
NA
NA
102.80
109.86
122.69
124.64
237.11
238.82
15.80
14.27
13.66
13.31
12.08
11.88
98.89
98.89
98.89
98.89
98.89
98.89
739.20
748.29
746.00
753.36
752.92
799.61
114.07
114.84
117.06
119.11
123.61
124.21
33.37
34.35
34.01
40.14
40.25
45.36
1,316.66
1,332.04
1,342.21
NA
NA
NA
North America Central & South America Europe Eurasia Middle East Africa Asia & Oceania World Total Source EIA
Table (3) World crude oil production.. ( Million Barrels Per day )
July 2011 August September October November December Jan.2012 February March April May June
Libya
Sudan
Egypt
OPEC(1)
0.1 0 0.1 0.3 0.55 0.8 1 1.2 1.35 1.4 1.4 1.4
0.571 0.588 0.45 0.45 0.45 0.45 0.38 0.38 0.11 0.07 0.09 0.08
0.522 0.522 0.7 0.7 0.7 0.7 0.7 0.7 0.7 0.7 0.7 0.73
31.367 31.418 31.328 30.567 31.528 30.215 31.567 32.618 31.348 31.350 30.990 32.868
Persian Gulf(2) 20.934 20.969 20.904 21.984 22.999 21.924 22.834 22.523 21.326 20.927 21.246 23.09
North Sea(3) 3.153 2.902 3.127 3.225 3.124 3.692 3.700 3.710 3.468 3.456 3.565 3.72
World 73.443 73.285 74.315 74.425 75.225 72.398 72.893 73.275 73.330 74.450 74.005 74.949
Source EIA 1 OPEC: Organization of the Petroleum Exporting Countries: Algeria, Angola, Ecuador, Indonesia, Iran, Iraq, Kuwait, Libya, Nigeria, Qatar, Saudi Arabia, the United Arab Emirates, and Venezuela. 2 The Persian Gulf countries are Bahrain, Iran, Iraq, Kuwait, Qatar, Saudi Arabia, and the United Arab Emirates. Production from the Kuwait-Saudi Arabia Neutral Zone is included in Persian Gulf production. 3 North Sea includes the United Kingdom Offshore, Norway, Denmark, Netherlands Offshore, and Germany Offshore.
Petroleum Today -
November 2012
57
Table (4) International petroleum consumption Million barrels per day
June 2011 July August September October November December Jan.2012 February March April May June July
U.S (50 OECD(1) States) 45.36 18.91 43.97 18.83 45.22 19.15 46.09 18.80 45.20 18.56 46.62 18.73 46.35 18.74 44.40 18.27 46.85 18.73 45.02 18.17 43.83 18.28 43.66 18.43 44.45 18.92 44.15 18.60
Canada 2.30 2.11 2.34 2.25 2.23 2.26 2.30 2.10 2.20 2.11 2.12 2.18 2.38 2.43
Europe 14.1 13.67 14.70 15.00 14.35 14.16 13.75 13.07 14.39 13.62 13.47 13.54 14.07 13.97
Japan 4.32 3.7 4.44 4.29 4.41 4.62 5.44 5.17 5.56 5.17 4.46 4.03 4.13 4.36
NonOECD 41.07 40.59 42.70 42.97 42.84 42.30 42.75 42.84 42.86 43.39 43.52 42.86 43.98 44.18
China 9.38 8.81 9.50 9.71 9.78 9.98 9.70 10.23 10.05 10.08 10.05 10.04 10.18 10.18
Other Non -OECD World 16.68 86.43 16.79 84.56 17.29 86.95 17.70 89.05 17.11 87.82 17.02 88.46 16.75 88.65 16.75 87.15 16.96 89.70 16.98 87.87 17.30 87.21 17.50 87.18 17.70 89.44 17.98 89.24
(1) OECD = Organization for Economic Cooperation and Development: Australia, Austria, Belgium, Canada, the Czech Republic, Denmark, Finland, France, Germany, Greece, Hungary, Iceland, Ireland, Italy, Japan, Luxembourg, Mexico, the Netherlands, New Zealand, Norway, Poland, Portugal, Slovakia, South Korea, Spain, Sweden, Switzerland, Turkey, the United Kingdom, and the United States.
Table (5)
World Natural Gas Plant Liquid Production , Thousand Barrels Per Day
August.11 September October November December January.12 February March April May
Algeria 345 345 345 345 345 345 345 355 350 354
Canada 642 620 690 690 710 730 700 760 712 719
Mexico 373 328 327 322 321 325 326 330 320 318
Saudi Arabia 1,500 1,600 1,600 1,625 1,625 1,625 1,625 1,625 1,620 1,619
Russia 435 433 448 434 447 448 448 448 445 444
United States1 2,036 2,145 2,274 23.41.53 2,342 2,351 2,376 2,388 2,390 2,385
Persian Gulf 2 2,541 2,670 2,695 2,695 2,695 2,696 2,696 2,696 2,690 2,692
OAPEC3 3,037 3,012 3,442 3,412 3,440 3,244 3,212 3,121 3,014 3,111
OPEC4 3,280 3,275 3,335 3,355 3,385 3,404 3,409 3,414 3,420 3,415
World 8,321 8,509 8,385 8,390 8,294 8,326 8,512 8,395 8,390 8,395
June
352
720
321
1,624
446
2,385
2,685
3,120
3,419
8,380
July
349
714
325
1,626
438
2,395
2,680
3,125
3,414
8,390
1 U.S. geographic coverage is the 50 states and the District of Columbia. Excludes fuel ethanol blended into ÄÅš nished motor gasoline. 2 The Persian Gulf countries are Bahrain, Iran, Iraq, Kuwait, Qatar, Saudi Arabia, and the United Arab Emirates. 3 OAPEC: Organization of Arab Petroleum Exporting Countries: Algeria, Bahrain, Egypt, Iraq, Kuwait, Libya, Qatar, Saudi Arabi Arabia Syria, Tunisia, and the United Arab Emerates Emirates 4 OPEC: Organization of the Petroleum Exporting Countries: Algeria, Angola, Ecuador, Indonesia, Iran, Iraq, Kuwait, Libya, Nigeria, Qatar, Saudi Arabia, the United Arab Emirates, and Venezuela.
58 Petroleum Today -
November 2012
Table ( 6 ) INTERNATIONAL ROTARY RIG COUNT
August 2010 REGION
July 2010
% Change change from prior from month prior month 53 28 4 8 1 6 NA NA 0 0 1 12.5 2 10
Land
Offshore
Total
Land
Offshore
Total
AFRICA ALGERIA ANGOLA LIBYA NIGERIA TUNISIA SUDAN
111 67 2 NA 17 7 18
32 2 15 NA 14 3 1
141 69 17 NA 31 10 19
165 65 2 55 17 7 19
29 0 14 0 12 2 1
194 65 16 55 29 9 20
MIDDLE EAST ABU DHABI DUBAI EGYPT JORDAN KUWAIT OMAN PAKISTAN QATAR SAUDI ARABIA
264 16 0 58 1 45 54 20 2 61
53 10 2 13 0 0 0 0 13 14
317 26 2 71 1 45 54 20 15 75
301 16 0 57 1 44 54 25 3 61
49 6 2 14 0 0 0 0 13 14
350 22 0 71 1 44 54 25 16 75
33 4 0 0 0 0 0 5 1 0
31 18 0 0 0 0 0 20 6.25 0
SYRIA YEMEN
NA 14
NA 0
33 14
30 13
0 0
30 13
3 1
10 7.5
EUROPE GERMANY ITALY ROMANIA TURKEY UNITED KINGDOM
53 11 5 12 23 2
42 1 3 0 1 37
95 12 8 12 24 39
59 11 5 17 23 3
39 1 4 0 1 33
98 12 9 17 24 36
3 0 1 5 0 3
3 0 10 30 0 8
LATIN AMERICA ARGENTINA BRAZIL COLOMBIA MEXICO VENEZUELA
406 88 42 90 103 83
121 0 54 0 51 16
527 88 96 90 154 99
342 87 41 89 109 16
184 0 56 0 52 76
526 87 97 89 161 92
1 1 1 1 7 7
0 1 1 1 3 8
ASIA PACIFIC AUSTRALIA CHINA OFFSHORE INDIA INDONESIA THAILAND
183 20 5 103 52 4
125 14 43 35 12 11
308 34 48 138 64 15
193 25 5 106 54 3
125 14 43 35 12 11
318 39 48 141 66 14
10 5 0 3 2 1
3 13 0 2 3 6
Source Schlumberger Petroleum Today -
November 2012
59
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7th zone, Masaken Sheraton, Cairo,Egypt.
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also have boilers for customer rental.
5 EL Farik Mohamed Ibrahim St., 6th Sector-Nasr City 5Tel: 22752491-71 - Fax 22751419 misco@link.net - www.misco-eg.com
ī īīīĄī īīīŖīī īī īī īīĸīī¤īī īīī§ī īī īīĄī īšīĩīĄīīī īī¨īžīīī īŧīīĄīīīī īīīĄīīĸī īēīīī īēīžīīī īīīīĒī īīīīī ī ī¤īĄīīīīīī īīīī¤īī īī īīŠīīīŖī¤īī īīīŦī¤īī īŋīī ī īī˛īžīī¤īī¨ī īīīī¸ī¤ī īīīīīī īīžīĒīīīĨī īīŖīīĄīī¤ī ī īīī¨īīŖīĨī īīĻīīŖī īīī¤īī īĨī¨īīĄīī¤īīĄī īžīĒīžīī īŋīĨī īīžīĒīīīī ī īĒīĨī ī īĄīīīžīīī īī īī˛īīīĄīī¤īī īŊīīī ī īīīīī īī īīīžīĒīīīīī ī ī īī īīīĄīīīžīĨī īīī ī īŖ ī īī ī īĨ ī īŽīīģīĄī īī ī īĨīīī ī ī˛ī ī¤īī īīīžī ī īĒīīī ī īī ī ī˛ī°īąī˛ ī īīžī ī īĒīīī ī ī ī īīīĄīīīžīĨ ī īžīŠīĒ ī ī ī ī˛ī°ī°ī¸ ī īīžī ī īĒīīī ī īĨ ī īīīīīģīīīī īžī˛īŠīī īŊīī˛īĻī īīīīī īīžīĻīīī īī īī īīīĻīī īīīī ī īīĒī¨ ī īŧīīīīīĢī˛īĨī¨ ī īŧī§īīīĩīĄī ī īī ī ī īĢīīģīīĄīīīī¨ ī īīīŖīīĄīī¸ī¤ ī īīī§ī īī ī īī īīī¨ī īī ī īī ī¤īī īīŽī ī īĩī īĄī īī īīī ī ī ī ī¸ī īī īąīī ī īŠī īī ī¤īī¨ ī īīīīīĒī īīīī¤ī īĒīĄīī¨ī īēī¨īīīĻī¨ī īļī¤īī īšīīĸī īīīŖīīĄīī¤ī ī īžīĸī īīīĸīīŠīĨī ī¨īī ī īąīŽī ī ī ī īīī ī ī īžīī īšī ī īīī īŋīĨī īļī ī ī¤ī ī ī˛īĄīīī īšīīī īŋīĨī¨ī īŽīī˛īīĄīīĨī īīīŖīīĄīī¤īī īšīģīī ī´īīŠī ī īīīīĄīī ī˛īĄīīŖī¤īī īīī¸īĄīīĨī īŗī˛īīĒī īīī īīžīĒīīīīī īĨī¨īīĄī ī īīģīīĄīīī ī īīī īīīŖīīĄīī¤īī īīī§ī ī¨īī ī īēī¨īĢīī¤īī īĢīīŖīĸī īīīŖ ī īīīīīģīīīĄīīīī īīī īī¸īĒīīī īīžīī īīĄīīĨī īī īšīģīŠī¤īī ī ī īīīīīģīīīĄīī ī īīīĩī ī īīīŖīīĄīī¤ī ī īīī ī ī§ ī īīīīĄīī ī īīī¤ī ī īīīŖīīĄīī¤īī īīī ī ī§ ī īīĻīīīģīī īŋī ī īĨī¨ī īžī ī īīī¨ī īšī ī īīīīī īī¸īĒīī ī īīī¸īĄīīīī īŗī˛īīīī ī īīī īīĄīīĨī īī īīīīīĄīīĨī ī ī¸ī īŽī īīīŖīīĄīī¤īī īīī§ī¨ī īēī¨īĢīī¤īī īĢīīŖīĸī ī˛īī īīŖīĢīĄīīī 11 Petroleum Today
ī īēīīī īīīŖīī īąīīī ī īīĨī¨ī īīĄīīī īīĒīīīĄīīīĸīīī īīīģīī¸īĸī īī ī ī ī¸īī īīīīīīĄīī īīīŖī īīĨī īī§ī¨ī īīīĄīīīī īīīŦī¸ī¤ī īīģīīīĸīīĄī ī īīīŖīīĄīī¤ī ī īīī ī ī§ ī īīīĨīžī˛īīĄī ī īīĻīīŖ ī īīī¤ī ī īĸīī¨īīŠī¤ī ī īīī§ī īīī ī īŠīīī ī īĻī ī ī īŧīī īī¨īžīīī īŗīīīžīī īŗī¸īŠīīĒī īīģīīĄ ī īī ī īīīĄīīī ī īēī¨īĢī ī īī ī¤ī ī īĢīīŖīĸ ī īī¤īīĄī ī ī ī īšīīīīīī¤ī ī īīžīĒīžī ī īēī¨īĢī ī īīīŖīīĄīī¤ ī īīĄīīī¯ī¤ī ī īīŖīŠīĒ ī īšīīīīīī¤ī ī īīīīĄ ī īīŖīīīĄīīī ī īŧī ī īŋīĨī¨ ī īīžīĒīīīī ī īŧīīī˛īī¨ ī īīĄīīīīžī¤ ī īīīĄīīī ī īēī¨īĢīī¤ī ī īĢīīŖīĸ ī īēīīĄīī ī īīĻīīīĄī ī īŋīĨ ī īīī§ī¨ īŋī īīīŖīīĄīī¤īī īīī§ī īŋīĨī īĸīī¨īīŠī¤īī īšīĄīīĄīīī ī ī¸ī
ī īĨī¨īīĄīī¨ī īīīī¯īī īĒīĄīīī¤ī īīīīī īˇīīžī§ī īšī§ī ī¸ ī īīīŖīīĄīī¸ī¤ī īīī ī ī ī īšī ī īĨīī ī ī ī īīī ī īĩī ī ī īīžī ī īĒīžī ī ī īŋī ī īīžīĒīīīīī īī īšīĄīīĄīīī īĸīī¨īīī ī¨īžī˛īī¤ ī īīžīĒīīīī ī ī ī īąīīŦī ī īˇīīžī§ ī īīīĩīĒ ī īīī¨ ī īžīī ī īĒīīŖī¤īīī ī ī īžīŦī¸ī¤ī īīīīĄīī īīīĩīī īī īĸīīĨīīī īĨī¨īīĄīī īŽīīģīĄī īīĨīīī˛ī¤ī ī īīīī īžīžīī īīžīĒīžīī īīīī¯īī īˇīīžī§ī īīīĩīī īąīīĄīī¨
- November 2012
ī ī ī¸īī īļī¤īī īŋīī īīĒīžīīī īīĒīīžīī īī īžīŖīīīĻī īīī¨ī īžīīī ī ī īīī¸īĄīīģī¸ī¤ī īēī¨īīīī īŊīī˛īīī īī īīīī īšīīīīīī¤īī īīīīĸī īīī ī īŗī˛īīĒ ī īī ī ī´īīĄīī¤ī ī īīīī¤īī ī īī˛īīī¨ ī īīĄīī ī īīīžīīī¤ī ī īīīī īī īēīīīŠīīĄīīīī īīī ī īīžīĒīīīī īžīĸī¨ī īīĄīīĨī īīī¸īĄīīĨ ī īīīžīī īī¯īĄīīī¨ī ī īžīīī īąīī īīĨīī ī īīžīĒīīīīī īīī§ī īšīīĨ ī ī ī¸īī īīīģī§īīī īīīīĄīīīī īīžīī īī īī īšīīīīīī¤īī īīīīĸī īĒīīīĒ ī īīī§ ī īēīīŦīĄīīĻī ī īļī ī ī¤īī¨ ī īšīīīīīī¸ī¤ ī īīīŖīīĄīī¤ī ī īĸīīŠī ī īŠīīīī ī īīīžī ī īĒīīī ī īĨ ī ī ī īī ī īĸīī ī ī¤ī ī īĸīī¯īĻ ī ī ī īīīŖīīĄīī¤ī ī īīīžīī¤ī¨ ī īĸī ī īīŠī ī īĸ ī ī ī ī ī§ī¨ ī īī˛īŖīžīīī ī īēī¨ī ī īīīīīī ī īīĨīīŠī¤īī īīīīī¤īī īīīī īīīĄī īĻīīī¤īī ī īīĄīī¤īī īīĨīīī īŦī īšīīīīīĄīī īī¨ ī īīīīīīī īīī¤īī īīīīīžīĒīīīĨī īīīīīĻī īŋīī īīžī¸īīīī īēī¨īĢīī¸ī¤ ī īīīīīŦī¸ī¤ī īīĄīīīī˛ī¤īī īīŖīīĄīī¤īī ī´īŽīī īī īšīīĸī īļī¤īī¨ī īī˛īīīĄī ī īŋī¤ī īī ī īĨīī ī īī§ī¨ī ī īžī ī īīī¨ī īĢīīīĄīīīī īīīīžīĒīīīī īīīŠīīīŖī¤ī ī īŋīĨ ī īīīīīžī¤ī ī īīī ī ī§ ī īīĻīīžī ī īīĻīīŖ ī īīīŖīīĄī ī īŋīĩī§ ī īīīīĄīīīīī īī¤īīī īīĨīī ī īŦī īīŖīīĄīī¤īī īīžīĒīīīĨī īī īīŖīīīĄīīī ī īīī¤īī¨ ī īī¸īī¸īī¤īī¨ ī ī¤īŦī¸ī¤īī¨ ī īēīžī ī īī ī īī¤īī ī īī ī ī īĒīīąīĄ ī īīīīģī¸ī¤ ī īĸī ī īīŠī ī īĸī¨ ī īšīīīīīĄīī ī ī īˇīīīīĻī ī īēīī ī ī ī īīąī ī īīī
ī īīģīŖī¨ī īŊīīī˛ī¤īī īīĒīīŠīĄī īąīŗī īī īīīīīŖī¤ī īīī¸īīīīīī ī ī īīąīīĩī¤īī īēī¨īĢīī¤īī īīīŖīīĄīī īŠīžī¤ī īīī¸īī īąīīīŠīīĨī īī§ ī īīī ī īīžīĒīī¨ ī īī¨īī¯īīĄīī¨ ī īŧīī¤ī¨īĢī ī īĸīīīĒīīī¨ ī īšīĄī ī īšīīĨ ī īīī§ī¨ī ī īĨī īĩī°ī īŋīī īšī˛īī īī īšīģīŠī¤īī īī īīīīīīīī īīīĄīīĻ ī īīī ī īĒīžī§ ī īŋī ī ī¤ ī īĒī ī īĸīī ī īī ī īŋī ī ī ī īī¸īīī¤ī ī ī¨īī ī īīīīĄīīĻīī ī īīī¤īī īīīīīĨīīī īī˛īŖīžīĨī īī īšīģīŠī¤īī īŋīĨī īŠīīīī ī īīŖīīĄī ī īŋīĨī īīŖīīĄīī īšīĩī¤ī īīī īšīĄīī ī īīŖīīĄīī īīīīĄī īšīģīŠīī īīĻīīŖ ī īī īīīī īīĄīīīīī īīīīĄīīīžīĨī īīąīīĩī¤īī īīīŖīīĄīī¤īī īīī§ ī īīĄīīīžīĨī īŋīī ī°ī¸īīīī īšīĄīī īīĄīīīžīģīĄī īīīī¤īī¨ī ī īī˛īžīī¤ī ī īĒīīŖī¤īī ī īīī¯ī¸īīī ī ī˛īīĄīīīžīī ī ī˛īīī§ī¨ ī īīī ī īĸīīīĒīī ī īžī˛īĄ ī īąī¨īīŠīĨ ī īī§ ī īīģīŖī¨ ī īīžīĒī ī īīŖīīĄī ī īīĄīīīžīĨ ī īŋī ī ī ī ī īī˛īžīī¤īī īīīīīĨī ī īŗī ī ī ī¸ī ī īšīĄī ī īīŖīīĄī ī īī¸īĄīī ī ī¤īĄīīīīīī īīīī¤īī ī´īīĄīī īēīīģīĄīī īī˛īŖīžīī īī˛īīģīŠī¤īī īīīīī ī īąīšīšī¸ ī īŊīī ī ī ī ī ī īī ī īĒīī ī īīī ī īīīĄīīĄīīžī ī īīĄīīĸīīžīĨ ī īžīŠī ī īīĒīīĄīīīī īīĨīīĩīīī īīĨīīĸī ī īąīšīšīšī īŊīīī īĸīīīīĨī ī īĄī¨ ī īīīīĻī īī ī īīŖīīīĄīīĨ ī īžī˛ī ī īĒīīĸīīī ī īīĄīīĨ ī īšīĄī ī īīŖīīĄīī¨ ī īžīī "ī īžīīģīīĻ "ī īī˛īŖīžīī īąīīĄīīĩīīĄīīīī īīĢīĄī īīĻīīŖī¨ ī īīģīĄīī˛īĨī ī ī˛ī°īąīąī īī ī ī īąīšīšīšī ī˛īī īīĨī īīĢī¯ī¤īī īšīģīĄīīī¤ ī īī¸īīīī ī īīī ī īģī īī īĄī īī ī īąīīĄīīĩīīĄīī ī īšī ī īīīī ī īĨ ī īīŽī ī īī ī¤ ī īĸīīīīĨ ī īī ī ī īąīšīšīš ī īĸīīīīĨ ī īŋīĨ ī īīĢī¯ī¤ī ī ī ī īī¨īīī ī īĸīīīīĨ ī īī ī ī ī˛ī°ī°ī´ ī īĸī ī īīīī ī īĨ ī īŋī ī īĨ ī īīīĻīīī¤īī¨ ī ī ī˛ī°ī°ī´ ī ī˛ī°ī°ī¸ ī īĸīīīīĨ ī ī˛ī ī īīĨ ī īīąī ī īīīīī¨ ī īīī¤īīī¤īī¨ ī ī ī˛ī°ī°ī¸ ī īšīĄīī īī˛ī¯īĻīī ī īžī˛īŠī¤īī īīĢīĄī īēīŽīī¨ī ī ī˛ī°īąīąī īĸīīīīĨī īī ī ī īīĄīīīīī īīŖīīĄīī¤īī īīīīĒīžī˛īī īīīī īī īī īīī¨īī īīīī¸īĨī īļī˛ī° ī īŊīžīĸī īīīī¸īĒīīī ī°īī¸ī īīžī˛īĒī īīīŖī ī°īĄīīīĩīīī īīīŦī¤īī īīīģīĩī ī īīĨī īąīīĄīīīŖīī īĒīĸīīīī īīĻīīŖī īīŖīīĄīī¤īī īīī ī īŧīīī ī īŠīĩīĨ ī īīĨī īī§ī¨ī ī īŠīĩīĨī īŊīžīĸī īīīī¸īĒīīī ī´ī ī¨ī īŗī ī˛īī īīĨī īī¨īīĢīĒ ī īīĄīīīĄīīī īīŖīīĄīī¸ī¤ī īīĒīīīĄīīīĸīī īŠī¨īžīī īīī ī īšīī§ī īŋī¤ ī ī˛īī īīĨī īī¨īīĢīī īīžīī īīąīīŖī ī´īīģīīīī ī ī¸īī īī¯īī īīīĻīīī¨ ī īīīī ī īīĒī¨ī īŦī ī īīĒīīŦī¸ī¤ī ī°ī¸īĩīĨī īīĨīīī īī§ī¨ī ī˛īˇī°ī°ī ī¨ī ī˛ī´ī°ī° "ī īī§ī¨ī īšīĄīī īīīīīĨīī īī˛īŖīžīĨī ī˛īī īīĄīīĄīīīī īīī ī īīĄīīīĻ ī īšīīīīīĄīī īī¨ ī īĸīīŠīĸ ī īąīīĄīīĩīīĄīī ī īŗīīīžīĨī¨ " ī īžīīģīīĻ ī īŗī°ī°ī īī īī īšīĄīī "ī īīīīī¯īī¤ī¨ " "ī īīĒīī¨īīĄī "ī īīģī§ī¨ ī īīĒīīīĄīīīĸīīī īīīīīīī īīĸīŽīī ī īīģīī¤ī īĸīīī¤ī¨ī īĢīĨī īī¸īīŖ ī īī īĒī˛īī īĸīīŠīĸī¨ī īšīīīīīĄīī īī īīīĄīīĄīīĩīīĄīīī īīīī īŧīī īīĄīī ī ī īīīī¨ī īšīĄīī īīīīīĨīī īī˛īŖīžīĨī īī˛īīī īŋīī īī˛ī¸īīī īī˛īī ī īŋīĨī īīŖīīĄīī¤īī īīīīĄīīĻīī īīīĄīīĸī īēī¨īīžīī īī īīĻīī ī°īīĄīīī ī īīŖīīĄīī¤ī ī īīī§ ī īī ī ī īīīĄīīĒ ī īšīĩīĄīī ī īīīĨīŽīī ī ī īīīŠīĸīīĨ ī īī īīīģīīīĄīīīī īīŠīģīĄīīī īīĄīīĒī īšīĩīĄīīī īīīĄīīīīī¨ī īī˛īĒīīŠī¤ī ī īŦīŗīī¸īĒī īī īīĨīīī īīī§ī¨ī īēī¨īĢīī¤īī īĢīīŖīĸī īī īīĄīīīī¨ī īīĄīīĨ īŽīīīīžīīīīī īīīīīģīīīĄīīīī īīīī īīĻīīīĄīī īŋīĨī īļī¤īī īī
ī īīīīīŠī¤īī īīžī ī īĒīīī ī īīī īšī ī īī īīīī ī ī īīī ī īī īĄī īīī ī īī ī ī§ ī īī ī īĨī ī¸ īŋī¤īĄīīīīīī īīīī¤īī īīīīĨī īī īīīŦī¤īī īŋīī ī īī˛īžīī¸ī¤
ī īīīĻīžīŠīīī īī¨īī¤īī¨ī īēī¨īĢīī¤īī īīīīī¨ī īīīī īēīīĸīīī īīīī īī¨īīī īĻī ī ī īīīĄīīĸī īŋīī īī¤īīīĄīīĨī īąīī¨ī īŗīīīŖīī¨ī īīīžīĄī īīīī īī§ ī īĸīīīī īīī¤īī¨ī īīĒīīīĄīīīĸīīī īīīīīī īī īī¨īžīīī īŧīīĄīīī ī īīīīī¨ī īīīīī¤īī īīīīīī īī¨īžīī īŧīīĄīīĢī¤ī īīī¸īŠī¤īī īīžīī¸ī¤ī ī īī ī ī īšīģīŠīĻī īī īēī¨īĢīī īīīīīī ī īŖ ī īŋīīĻī¨ī ī īŠīī ī īīī ī īīĒīīīīĄī ī īŽī īīžīī¸ī¤īī īīī§ī īŋīĨī īī§īīīīīĻī īīī¤īī īīīīīīžīī īŽī¤ī īī˛īĄī¨
ī ī¤īīīī ī īĒī ī īĸīī¨ ī īŋī ī īĨ ī īŗīīī˛īī ī īīĒīīīīĄīī¤ī ī īīī ī īī īī ī īīīīīī īīī§ī īīī ī īžīŖīīīĒī īĸīīīŠī¤īī īīī§ī īīīŖī¨ī īŗīīīī¨ī¨ ī īīžīī īŗīīĸīī īšīĩīĄīīī¨ī īīī¨ī īšīģīŖīī ī ī ī¸īī īīīīīīīī īŊīī˛ī ī īīī¤ī ī īąīīī ī īīīī ī īŋīĨ ī īąīīĩī¤ī ī īļī¤īī ī īĒīžīīĸīī¨ ī īīĒīīŦī¸ī¤ ī īī¨īžīžī¤īīĄ ī īŗīīī˛īī ī īīī ī ī§ ī īšīīĨ ī īīīžī ī ī īīŦī ī īī ī īĻīī ī īŖ ī īŋīĩī¤ī¨ī īąīīī ī īīģīŖī¨ī īĸīīŠīī¤īī īīī¤ī īī¨īī īīģī¸īīĨī īšīĄīī¯īī ī ī īīīīĢīĄīīīī īīĢīĄī ī ī˛īī īīŖīīīĄīīīī īšīģīĩīĒī īī īĸīīŠīī¤ī ī īīī ī īēīīĸīī ī īīī ī īĒīīŖīīĄīīī¨ī īī¨īžīžī¤īī īīīģīĻīžīĨī īī§īīīĸī īīī¤ī ī īžīīīĒī īī¨ī īīīīžīĨī īĢīīĄīīīĨī īī¨īžī ī īīī īŧīīĄīīīī īīīĄīīĸ ī īīīģīī¸īĸī īī ī īīīīī ī ī ī īīĄīīŠīĸ ī ī¨īī ī īī¸īīīīīĄīī ī ī īšīīī ī īēīīīžī ī ī īģīĄīīĒ ī īīĨ ī īžīīīĒ ī īī¨ ī īīĄīī ī īīĒīīīĄīīīĸīīī¨ ī īīŠīīīŖī¤ī ī īīīŦī¸ī¤ ī īīīīĸīīĄīī¨ ī īīĄīīĨ ī īŧī ī īī ī īšīīīīīĄīī ī īŋī īīīĄīīī
ī īīīīī¨ī īīģīīĸīīī īīīīģī¸īĄī īļī¤īīŖī īīĨīīīī īīīŖī īīī īī ī¸ ī īīĨīīĄīīīī īĸīīžīžīīīī īī īī¸īī ī īīīĄīī¯īĻī īēī¨īĢīī¤ī ī īīģīĻīĻī¨ī ī ī¤īŦī¸ī¤īī īīī§ī īšīīĨī īīĄīīĸīīžīĨī īī ī īēīīģīŖ īŋī īīīīĄīī¤īī īīī§ī īēīīī īīīģī¸īī īī¨īžīĻ
ī īšīģīī īīĄīīī¨ī īžī˛īī īŋīī īīīīīī¤īī īīžī¸īīīī īīīīī īīī īī ī¸ ī īīī ī ī īīīĄīī˛ī¤īī īīī ī ī§ ī īīĄīīĸīīžīī īŗī ī īīī īī ī īĸī¨ī ī īŋī īīīīžīĨī īĢīīĄīīīīī īīīŖ ī īīĨīīĄīīī ī īĸīīžīžīīīī īīī ī īī ī ī īąīĄīīī ī īīī ī īžīīī īīīĄīīīžīīīī ī ī īīī§ī īīĄīīīĒī īŋī ī ī¤ ī īī ī īĻīī īŋī ī ī¸ī īīī ī īēī¨īĢī ī īī ī¤īī īī ī īĒīī¨ī īēīīģīŖ ī īŋī ī īšīī ī īī¨ ī īī§ ī ī ī īĢīīģīīīī ī īīĄīī¸ī ī ī¨īī ī īīĄīīīī¤ī ī īĸīīīĒ ī ī ī īī¨īžī ī īī ī īŧīīĄīīī ī īī ī īēī¨īĢī ī īī ī¤ī ī īīīīī¨ ī īŗīīĄīīī ī īī īīīĩīīĄīī īī ī īī īĻīī ī īŋī ī ī¸ī īīī ī īī ī īĻīī īīģīŖī īīīīīī ī ī ī¤ī ī īīīīīī¨ī īīĒīīīīĄīī¤īī īīīīīī ī˛īī īīīĩīīĄīī¨ī īī¨īžīī ī īīĨīī˛ī¤īī īŋīĨīīīī īīĒīīĄīīĸī īĸīīīĒī īīĨī īīī ī¤ī˛īĄī īīĄīīīīī ī īīžīīŠīī¨ī īīī¨īžīī īī¯īĄīīī īĸīīĸīīžīĒī īīī¨ī īžīīī īīīĄīīī ī īīĄīīĒīī ī īīžī§ī īąīĄīīī ī īīī¨ī īžī ī īīī¨ī īŊīŽī ī īī īīī īšīīīĄīī¨ī īŋī ī īī¨īžīī īŧīīĄīīīī īīīī īīĄīīī¤ī īēī¨īĢīī¤īī īīīīī¨ī īīī ī īī ī ī īī īīĄīīĨī īī¨īžīī īŧīīĄīīīī īī¤īīīĄīīī īīĄīīīī īąīī īī§ī¨ ī īī¤ī īī¨ī īąī¨īīŠīĨī īī§ī īīģīŖī īīĒīīīĄīīīĸīīī īīīģīī¸īĸī īīī īīīīī īŋī īīĒīīīīĄīī¤īī īīīīīī īī§ī īļī¤īī īŋīī īžīīīī¤īī īēīīīĄīīī
ī īīīīī¨ī ī īĻīīī īŋī ī īĨ ī īŗīīī˛īīī īīī ī ī§ ī īšīīĨī īīī ī ī ī īīī ī īŖī ī ī īīīģī¸īī īī¨īžī ī īĻ ī īīī ī ī īī ī ī īī īīžī ī ī ī īīī¨īī ī īĄī ī ī īēī¨īĢī ī īī ī¤ī ī ī ī¸īī īēīžī ī īīī īīī ī ī§ ī īīīīīĒī īī ī īīī īŗīīī˛īīī ī°īĄīīĩī ī ī ī¸īī īīī¸ī¤ī īŧīīĨī īļī¤īī īīīĩīĄī īēī¨īĢīī¤īī īīīīīīī īšīģīŠī¤ī ī īīīīī¨ ī īī ī īļī¤ī ī īīīīīī ī ī¤īī ī ī ī ī˛īĄīīīĢīīī¨ ī ī˛īĩīĩīĄīīī ī īī īīī¤īī īīžīīīī¤īī īīīīīī¤īī īīīĻīī ī īīĄīžīīīĄīīĨī īēī¨īĢīī¤ī ī īīĒīīžīĒī īŋīĨī īŋīĒīīĄīīŠī¤īī¨ī īĸīīĨīīīī īīīīī īīīžīīīīī īīīīīī ī īīīīī¤īī īžīŠīī īī¨ī īīīžīīī ī īī¨ī īšīīĸī īī īīīīīīĻī ī ī īīīīīīĒī īī¨ ī īīī¸īŠīī īīĨī īī§ī¨ī īīīīĻī īīī¨ī īšīģīŠī¸ī¤ī īžīīī īŊīīĻīĻī īīīĒīžī¤ī īī ī īīīīīīĻī īīī īīīīąīĄīīĨī īšīīŖīŠīī īąīžīīī īīĄīžīīīĄīīĨī īīīīī¨ ī īīīģī§ī¨ ī īīīĨīŽīī ī ī īˇīīīŠīĨ ī ī ī īīīŖīĒīīī ī īēīŽī ī ī ī īŋīĨ ī īīīīī ī ī ī īīī¤ī ī īŊīŽī ī īī īī ī īšīīīĄīī¨ ī īŋīĨ ī īžīĒīžīŠī¤ī ī īŠī ī īī˛īīīĄī ī īī¸īĸ ī īīģīŖ ī īīīīī¤ī ī īīĒīīīīī¤ī ī īīīīī¸īĄīīĨ ī īī ī ī īīžī§īīĄīīī ī ī ī ī¸ī ī īīīīīīĄīīī ī ī īĄīīĻ ī ī ī¸īīī ī īŗīī˛īī¨ ī īīīĻīŽīī īīī īŋīĨī īīžīĸī īŠīŖīī ī ī¸īī īēīīĄīīīī īŧīī īŋīĨī¨ ī īīī¸īĄīīīī īŋīī īīĻīžī¤īī īĸīīŦīī īī¸īīīī īīī ī īīīī ī īŗīī˛īīī¤ ī īˇīīžī§ī īīīĩīĒī īīīī¨ī īžīīŽīĄī īīĨīžīī īŋīĨī īīĄīīī īīīžīīī¤ī ī īīīŠīĄīīĒī¨ī īīĄīīĨī īīī¸īĄīīĨī īī ī ī īąīžīīĒī īīīī¨ī īŊīŽīī ī īŽīīīīī īīīīīīī īīīī īšīīĸ
ī īŋīĨī īšī ī īĄī ī ī īī ī īŖīī ī īĄī ī ī īīī ī īī īĄī īī īĻīī īīīĄīī˛ī¤ī īī ī īīīī īĻī ī¸ ī īīīĄīīĸī īīĄīīĸīīžīī īī¨īžīĻī īēī¨īĢīī¤īī īīīīī¨ī īīžī˛īī ī¸ ī īīīīī ī¤īĄīīīīīī īīīī¤īī īī īī§īīīīīĨīī īī˛īŖīžīĨ ī īīīŠī ī īīī īĸī ī īī īŠī ī ī īīī ī īī ī ī īī¨īžī ī ī īīī īŧī ī īī īĄī īīī ī ī ī īĢīīŖīĸī īīīīĄīīĻīīī īīī§ī īīĄīīĒī īšī§ī¨ī īīīīĄīīĻī ī īšīīīĄīī¨ ī īĸīīŠī ī īīīī¯īĄīī¨ī¨ ī īīīžīĨ ī īīīīīĄīīĻī īŋī īīīĄīīīī īēī¨īĢīī¤ī īŋī īļī˛īī¸īŠīī īīĨī īī¸īĄīīī¯ī¤īīī īŊīŽīī īī ī īīŠīīīī īī¸īīī ī īģīĄīīĒī īī¤ī īī¨ī īīīīĄīīĻīī ī īģīĄīīĒī īī īīī§ī ī ī īīīīĨīīīī ī īīī¤ī ī īīīĸīī¯īīī ī īīīžī ī ī īīī ī īĒīĸīīī ī īŋī ī īŋīĨī īīīĢīĄī īīŽīī īīīīīĻīī īžīŠīī īīīīīī ī ī¤īī īĒīĨī īīŖīīĄīī¤ī ī īīī§ī¨ī īīĨīīī īąī˛ī īīžīī īīžīīĨīī īąīīĄīīĩīīĄīīīī¨ī īīīī¤ī ī īžīīŖīīī ī īšīĩī ī īīī ī īĄī īī īī ī īēī¨īĢī ī īī ī¤ī ī īĢīī ī īŖī īĸ ī īīĄīīĒ ī īŋī ī ī¤ ī īīŖīīĄīī¤ī ī īīī ī īšīģīŠī ī īīĻīīŖ ī īīī¤ī ī īīīŖīī¸īī¤ī ī īĸīī¯īĻī¨ ī īīī¤īī īīžī ī īĒīīī ī īīī īīī ī īī ī ī īī īīīīīī īī īī¸īīī¤īī īšīīĸ
ī īī¯īĄīīŖī¨ī īīžīī īīīīīĻī īī¨īžīžī¤īī īīī§ī īīĻīīŖī īĸīīĩīŠī¤īīī ī ī īīīĄīī˛ī¤īī īīī ī īī ī ī īī ī īĄī īīī ī īīī īŗī ī īīī ī ī˛ī īīī īŋī ī īĨ ī īžī ī īĒīžī ī īŠī ī¤ī ī īīī§ ī ī ī īīī¨īīŖīī ī īīīī¨īīĄīīī¤ī ī īšī ī īŖ ī īŋī ī ī ī īī ī īīī ī īīīī¨ ī īīīŠī ī īīī īŋī ī īĨ ī īžī ī īĒīžī ī īŠī ī¤īī īī§īī¯īīĄīī īīī ī īŖī¨ī īĢīī ī īĄī īīī ī īī ī īšīŖ ī īī¨īžīžī¤ī ī īīŠīžīĸīīī¨ ī īīĒīīīīĄīī¤ī ī īīīīīī¨ ī īīī¯īŖīīī ī īŋīĨ ī īąīīĩī¤ī ī īī ī īī īĄī īī¨īīī¨ ī ī˛īĩīĩīĄīīīīī¨ ī ī˛īĄīīĢīŠīī ī īīĄīīīī¨ ī ī¤īŦī¸ī¤ī ī īīī ī ī§ ī īīī¤īī ī īąī ī īīī ī īīī¤ī ī īĨīī˛īžī¤ī
ī īīīŦī¤īī īŋīī ī īī˛īžīī¸ī¤ī īīīīīŠī¤īī īīžīĒīīīīī īšīīīīīī īīīī¨ī īīĄīīī īīīžīīī¤īī īīī¸īĄīīī ī īīžīĒīžīī īīīī¯īī¨ī īĨī¨īīĄīī īĒīĄīīžīĄīī¨ Petroleum Today
- November 2012
10
ī īīĄīīĒī īšīĩīĄīīī īī¨īžīīī īŧīīĄīīīī īīīĄīīĸī īī¤ī¨īīžīī īŊīŽīī īīī īšīīīĄīī¨ ī īīīĄīīīī īīĨīī˛ī¤īī īŋīĨīīīī
ī īīīīīīĒī īī īīī¤īī īīžīīīī¤īī īīīīīī¤īī īīīĻīīī īīĄīžīīīĄīīĨī īēī¨īĢīī¤īī īīīīī¨ īīĄīīĨī īī§īžīīĄīīī īīī¤īī īīīĄīīīīĄīī¤īī īīīžīīīīīī īīīīĄī īšīģīŠī¤ī ī īīī¤īī īĒīīī¨īī¤īī īīī§ī īšīīĨī īīīī ī īī īī¨ī īīģīīī˛ī¤īī īīīĄīīīīĄīī¤ī ī īī¤ ī īĸīīī¤ ī īīī ī īīīī ī ī ī īšīĩīĄīī ī īŊīŽī ī ī īī īī ī īīī¤ī¨īīžī ī īīīīīĒī īšīĩīĄīīī īī¨ī īī¤ī¨īžī¸ī¤ī īīīžīīī¤īī īīī¸īĄīīīīī īīĸīŽī ī īēīī˛īŠīīī īŋīĨī īšīīĄī īīīĄīīīī īīĨīī˛ī¤īī īŋīĨīīīī īīīīĄīīī˛īĨ ī īīīīī īī¨īžīīī īŧīīĄīīīī īšīīĨī īīĄīīīĄīīī īīīĄīīĸī īīĄīīĸīīžīĨ ī īĢīīŖīĸ ī ī ī¸ī ī īīī ī īĨīīīī īī ī īīī ī īŠī īīī ī ī°īĄīīĩīīī¨ ī īŋ ī īšīĩīĄīī¤ī ī īīī ī īī ī ī īīĻīžī¤ī ī īī¯ī¸īĻ ī īīĨīžīžī ī īīīĄīīī ī īēī¨īĢī ī īī ī¤ī ī īšīīīīīĄīī īī¨ī īĸīīŠīĸī īŋīĨī īŽīŖī īŊīīīĸī īĒīĨī īŋīĨīīīīĒī īļī¤ī ī īīīīī īīī¤īī īīīĸīīī¤īī īĸīī¯īĻī īī ī˛īīžīĒīīīĨī īīīŖī ī ī īī˛īžīī¤īī¨ ī īīīī¸ī¤ ī īīīīīŠī¤ī ī īīžī ī īĒīīī ī īī ī īīŖīīĄīī¤ī ī īīīĄ ī īīī ī ī īīĒī īīģīŖī ī ī¤īĄīīīīīī īīīī¤īī īīīīĨī īī īīīŦī¤īī īŋī ī īīīīīŖīī īļī¸īī§ī īŋīĨī īīīī¸īĒī īī īīīīī īīžī§ī īēīīīĄīīīī ī īī īī īīīĄīīīī īīīŦī¸ī¤ī īĸīīŠīĸī¨ī īšīīīīīĄīī īī īīĸīīĄīī īīīžī ī īīžī ī īīĄīīīīī ī īīĒīīīīĄīī¤ī ī īīīīī ī īī ī ī īīī§īžī˛ī ī īī§īīžīĒīīī ī īīī¤ī ī īī¸īī¸īī¤ī ī īīīī ī īī īī¨ ī īĸīīĒīīĄīīī¤ī ī īī¤īī ī īŋīĨ ī īī īīĄīīĨī īīī¸īĄīīĨī īīĄīīĒī īšīĩīĄīīī īŊīŽīī īīī īšīīīĄīī¨ī ī ī īŧīī īīī§īžīī¤īī īŋīĨī īīīĄīīīī īīīĄīīīĸīīī īīīĄī īĻīīŠīĒī īīĸī¨ 9
Petroleum Today
ī īīīīĻīīĩīĨī īī ī īŋīĨ ī īžīĒīžīŠī¤ī ī īīīĒīžī¤ ī īīĄīīģīĄ ī ī ī īĒīīŖī¤īīī ī ī īīī¯īžīī īīī¤īī īī¸īĒīīŖī¤īī īīŠīīī¨ī īīĄīīīīī¨ī īīīīīģīīī¨ ī īī īī¸īĒīīī īīŠīī īļī¸īīī īīīĄī īēī¨īžī ī ī¤īī īļī¸īī īŋīī īīī ī īī¸īĸ ī īīģīŖ ī īēī¨īĢī ī īī ī¤ī ī īŋī ī ī ī ī īī˛īžīī¤īī¨ ī īīīī¤ī ī īēīī ī ī ī īīžī ī īīī¤īī ī īīīŠīĸīī ī īīīĒīžī¤ ī īīī ī īļī ī ī¤ī ī īī ī ī īąīīĄīīĒ ī īŗīīīžīīī īļī¸īī īī īīīŦī¤īī īŋīĨī īąīīŖī īīīīīīīī īīīīī ī īī˛īīī īļī ī ī¤īī¨ī īīī¨īī ī īī īīī īēī¨īžī ī ī¤īī īīīīīīīī ī´īī ī ī¯ī īĒ ī īīīīĄīīī ī īīīī§ ī īŋī ī ī ī īīīžī ī īĄī ī ī īīĒīīī˛īī¨ ī īīī ī īĄī īīīīžī ī ī¤ ī īīīī¤ ī īīīĒīžī¤ ī īīĄīīīīĒ ī īīģīŖ ī īīīĩīĒīīĨīīī ī īīīīī¤īīīī ī īšīģīŠīī īīī¤īī¨ī īīīīžīĄīī īīžīĨī īīīīĸīī¯īīŽī¤ī īī˛īīĄīīĨī¨ī īžīī ī īąīīŠīī īī§īī¨īžīī īīī¤īī¨ī īīīŖīīĄīī¤īī īīī§ī īĒīĨī īī§īīĄīīī˛ī ī īīī ī īīīĄīīī ī īēī¨īĢī ī īī ī¤ī ī īĢīī ī īŖī īĸ ī īĒī ī īĨ ī īšīģīŠī¤ī ī īīģīīĸ ī īŗīīīžīī ī īīīīĄīī ī ī ī¸ī ī īīīŖīīĄīī¤ī ī īīī ī ī§ ī īī¸īĄīī ī īī īīīīī ī ī ī§ī¨ī īīīīģīžī¤īī īīī§ī ī īīīī ī īī˛īžīī¸ī¤ ī īīīīīīĄīīŽī¤ ī īīīīĄ ī īļīīĩīĄīīī¤ī ī īīīĄīīĄīīžīī ī īĒīŖīīĄīīĒ ī īī īī ī¨īī ī īī ī¸ī īĄī īīī ī īŖīī ī īĄī īī ī¤īī īīī ī ī§ī īīīīī ī īģī īī īī īĄī īīī ī ī ī ī¸ī ī ī īĢīīĄīī¨īīīī ī˛ī¸īŦīīĄīīĨī īīīī˛īīĄīīīī īīīžīĨī ī īī īļīīĩīĄīīī¤ī
- November 2012
ī īšīīīĄīī ī ī¸īī īīīŖīīĄīī¤īī īīī§ī īŋīĨī¨ī īŠīīīīīī īīīŖīīĄīī¤ī ī īĸīīīĒīīī¨ ī īŧīī¤ī¨īĢī ī īĸīīīĒīī ī ī¨ ī īšīĄī ī īīīŖīīĄī ī īēīīīī ī īēī¨īĢīī¤ī ī īīī ī īŖīī ī īĄī ī ī īŋī ī īĨ ī īī ī ī§īąī ī īī¨ ī īī¨īī¯īīĄīī¨ ī īīī ī ī ī īī īīģīīĄīī īēīīĨīīī īīģīīīĄīīī īīīī īĒīīŖīīĄīīī īīī¤īī īŠīŠīĩī¤ī ī īīģīŖī īīĻīī ī īļī¤īī īī˛īīģīŠī¤īī īīīīīī īī ī īī˛īžīī¤īī¨ī īīīī¤ī ī īīīīī¤īīžīĩīī īī īī īīīīīĒī īšīģīŠī¤īī īīī§ī īīīĄī īąī¨īīŠīĨī īī§ ī īīī īīģīīĄīī īīīīīģīīīĄīīī īī ī ī īīĄīīĄīī īīīī īīžīī īīī¤īī ī īīīŖīīĄīī¤īī īīī§ī īīžīī īīī¨ī īī˛īīģīī īŗīīīžīīī īļī¸īī īīīīĨ ī īīĒīī¤īī īŋīī ī īī˛īžīī¸ī¤ī īīīīīĻīīīīĨī īĒīĄīīī īīīĻīīī īīģīŖī īšīī¸īĸ ī īīīīĻīīīīĨ ī īīīī ī ī ī īīīĩīī¨ ī īī˛īīģīŠī¤ī ī īīīīī ī ī ī īīīŦī¤īī¨ ī īīīī¸īī īīīīīīĄīīŽī¤ī īī¤ī¨īī īšīŖī ī īŠīĄīīī īļī¤īī¤ī īīī¨īžī ī īēī¨īžī¤ī ī īī¨ī ī īī§īīīīīĨī ī īŗīīīžīĨ ī ī ī īšīģīŠī¸ī¤ ī īīīīīī¨ ī īŽī īīĄīīĄīīžīīī īžīīĄīīī īīžī§ī īŋīĨī¨ī īŠīīīīīī īīī¨īīīī
ī īīĄīīĨī īīĄīīĄīīžīĨī īēī¨īžī ī ī¤īī īīī ī īī ī¤ ī īŋīĩī§ī īšī ī ī§ī¨ī ī¸ ī īĢīīŖīĸī īī īī ī ī¸ī īĒīī ī īŖī ī¤īī īīŠī ī ī ī īīī īī ī īī īīī ī īĄī ī īŋī īŊīīī īąī°ī°ī īīīīī īīžīŠīī īīī¤īī¨ī īēī¨īĢīī¤ī
īē"ī īīīīī ī īī īŧī ī īī¤ī¨īĢī ī"ī ī ī¤ī īīīī¤īī ī ī¯īŖīĄīīĨī īĸīīžīžīīī
ī īĸīīīī īŠīī īīīī īī¤ī¨īī īīīī īĒī īĨī īī¸īĩīĄīīĨī īīīī īīžīĒīžī¤ī īžī īīīī ī ī¤īĄīīī īīīī īīīī¤īī īīī ī īīĨī ī īĄī īī¨īžī ī īīī īŧīīĄīīī ī īīīīīī īŠīīīī
īŠīžīģīī īžīģīī¨ī ī īīīŖīī īžīģī ī īŋīĨī īžīĒīžīŠī¤īī īī ī´īī ī īŖīžī¤īī īĒīĄīīī¨ī īīžīī īžīīĄīīĻī īī ī īžī¤īīīīĨī¨ī īīīĄīīīīī īīĢī ī ī¯ī¤īī īī īī ī īĻīžīīĄī ī īīīĄīī˛īī ī īģīĄīīĒī īīĨī īēīīī īēī¨īĢīī¤īī īĢīī ī īŖīĸī īīīŠīī ī˛īī¨ī īī¯ī¸īīīīī īŊīŽīī īīī īšī ī īīīĄīī¨ ī īšī ī īīīīīĄīī īī¨ī īī ī īĄīīĨī ī˛ī ī īī īī ī īĒīīīĄīīīĸīīī¨ī īī ī īīģīī¸īĸī īīī īīī ī īīīī īī īī¨īžī ī īīī īŧī ī īīĄīīī ī īī ī īŠīīīŖī¤īī īīī ī īŦī¸ī¤ī ī˛ī ī īī¤ī¨īžī¤īī ī˛ī ī īīī§ī īī ī īĸīīĄīī īī ī īīīĄīī īēīī ī īī īąī ī īīīī īī ī īĨī¨ī īĸī ī īīŠīĸī¨ ī īīīī ī ī¸īī īīŽī ī īīīĄīīīī¨ī ī ī ī¤ī ī īĄīīīīīī īĸī ī īīīīīīī īī ī īīī¤īī ī´īī ī īĄīī īī ī ī˛īŖīžīĨī īī īīī ī īĄīīī īŽī īīī¨īī īīī ī īī¸īĨī ī˛ī°ī°ī īŋī ī īĨī īīī ī ī˛īĒī īī ī īĨī īī īī īąī ī īīīī īī ī īģīīĄīīī īī ī īīģīīĸī īšī ī īĄīīī īī ī īŠīīī ī īī īī īīīĻīžīŠīīī īī¨īī¤īī¨ī īēī¨īĢīī¤īī īīĒīī¨ī īēīīģīŖī īīĨīīĄīīīī īĸīīžīžīīīī īĒīĄīī īīī¤īī īīĨīīīī īī§ī¨ ī īīīīīī īŋīĨī īīīĄīīīīī¨ī īēī¨īĢīī¤īī īīīŠī ī īī īŋīĨī īžīĒīžīŠī¤īī īīīī¤ī īī īīīī īīīģī¸īī īī¨īžīĻī īžī ī ī˛ī ī īŠīžī¤ī īīīīīĄīīīī¨ī īŗīīī˛īīī īīī ī īī¨ī īīīĄīī˛ī¤īī īļī¸īī īīĄīīĸīīžīĨī¨ī īĸīīī¸īī¸ī¤ī īī ī īĒīīīīĄīī¤ī ī īļī¤īī īŧīīī¨ī īšīīĸī īŋīĨī īīīĄīīīī īēī¨īĢīī¤īī īĢīīŖīĸī īī īīžīī īī īī˛īīīĄīī īī īŊīīŠī¤īī īīīīī¤ī ī īī īī īī¸īĄīī¨ī īī ī īīĄīī˛ī¤īī īīī§ī īēīī ī īī īˇīīīīīīī¨ī īēīžī ī īīī īŋīĨī īī¤īīī īˇīī ī īžī§ī īī ī ī¤īīīīĨ īŽī īīī¤īīīī īī¨īžīīī īŧīīĄīīīī īī ī īīĸīī¯īīī īīīŦī¤ī īīī ī ī¤īīŖīī īīīīīĄīīĸī īī¨īī ī īīī īĒīĄīī īžī ī ī ī ī ī ī ī¯īŖīĄīīĨ ī īĸī ī īīžīžīīīī ī īī ī ī˛īī¤ī ī īī ī īīīĻīī ī īŋī ī īĨ " ī īīīīī ī ī ī īŧī ī īī¤ī¨īĢī ī īī ī ī¸ī" ī īēīĸī ī īīīīĒī īīģ ī īī ī īīŠīīīŖī¤ī ī īīīīī ī īŦī¸ī¤ ī īī ī īĄīīīī˛ī¤ī ī īī ī īŖīīĄīī¤ī ī īĸī ī īīīī ī ī ī ī īīīĻ ī īī ī īīī¤ī ī īīīĩī ī īĄ ī īŗī ī īīī˛īī ī īīī ī īī¨ ī īī ī īīĄīī˛ī¤ī ī īī ī īĄīīĸīīžī ī īąīī ī īĄīīĩīīĄīīīī¨ ī īīī ī īīĸīī¯īīŽī¤ īŽīī ī īīīīĄīī¤ī ī īī ī īĄīī˛īžī ī ī ī īīī ī ī¤ī ī īīīī ī īī ī īīī ī ī§ ī īīīŖī¨ ī īĒī ī īĄīīī¨ ī īīžī ī īĄī ī ī¨ī ī īšī ī īī
ī īīī§ī īīīī ī ī īī ī ī īī ī ī ī īī īĄī īī ī¤īī īī ī īĨ ī īļī ī īī īīīī īī īīī īī ī¸ īŋī īīīī¤īīī īīīĸīīī¤īī īīī§ī īī īīīĄīī˛ī¤ī ī īīīĄīīī ī īīĻīī īī§ī īīīĻīĻī īīīī¨ī īŋīĨī īīĄīīīīī¤īī ī īīĄīī¤īī ī ī īī˛īŖīžīĨī īī īīĄīīī īīžīī ī˛īĒīīīĄīīīĸīī ī˛īĄīīĄīīžīĨī īˇīīžī§ ī īŋīĨī īŽīŖī īžīĒīžīīī¤īī īīī¨ī ī ī¸īī īīģī§ī¨ī ī¤īĄīīīīīī īīīī¤ī ī ī ī īīīĄīīĄīīžīī ī īīīī ī ī§ ī ī¨ ī īīīžīī¤ī¨ ī īĸīīŠīĸī¨ ī īšīīīīīĄīī ī ī īī īīŠīī¨ī īīīīĻīīĩīĨī ī ī īŋīĨī īīĄīīĨī īīĩī¸īī īīĨī īīīĩī¸ī§ ī īī īī ī īŠīĄīīĒī īĸīīĄīīžīĨī īšīŖī īīīĄī īŧīī īŋīĨī¨ī īēī¨īĢīī¤īī īĢīīŖīĸ ī īĒīīŖīīĄīīī īīī¤īī īēī¨īĢīī¤īī īīīīĻī ī ī īīīŖīīĄīī īŠīŠīŖī īīī ī īŋīĨ ī īī ī ī§īąī ī ī ī īī¨ī ī īī˛īīģīŠī¤ī ī īīī ī īī īī ī ī ī īīīģīīīĄīīī
ī īēīīīĄīīīī ī īĻī ī ī īīģīŖ ī īīīīīīī¨ ī īīīīīĩīīī¨ ī īīīīģīĄīīī ī īīīī¤īīī īīīīī īīīĸīīī¤īī īī ī¤īŦī¸ī¤īī īīī§ī īīīīĒī īīīī ī īīīĄīīī ī īīĨīī˛ī¤ī ī īŋī ī īĨīīī ī īīĒīīĄīīĸ ī īĸīī§ ī īšīĩīĄīī ī īīīīī ī ī īēīī˛īŠīīī īŋīĨī īšī§ī¨ī īŋīīī¸ī¤ī īīī¸īŠī¤īī īīī¸īĄīīīī¨ ī īīīīī īīī ī īĄī īī īīī īī ī īĨīī ī ī˛ī ī¤īī īŋī ī ī īĨīīīī īĸī ī īī ī ī īīīĄīīĸ ī īī ī īŊīŽī ī īī īī ī īšīīīĄīī¨ ī ī°ī¸īī ī ī ī īī¯ī¤ī ī īšīĩīĄīī¤ī ī īīīīī īī§ī īīī§ī īšī§ī¨ī īīĄīīī īīī¸īŠī¤īī īīī¸īĄīīīīī īīĄīīĒ ī īīīĄīīīī īēī¨īĢīī¤īī īĢīīŖīĸī īīīīĄī īīīŖīĒī īīī¤īī īī¨īīī ī īīīī¸ī¤ī īī ī īĒīī¨īžī ī ī ī īīī ī īī īī īĨīī īŗī ī īīī ī īžī ī ī īīīžī ī īĒīīī ī īĨ ī īīīī¤īīī īī˛īīģīŠī¤īī īīīīīī īī īēī¨īĢīī¤īī īŋīī ī īī˛īžīī¤īī¨ īŽī ī¤īĄīīīīī
ī īēīīī īīīīīī īēīžīīī īŋīĨī īī¤īīī īˇīīžī§ī īīĒīīžīī ī¸ ī īĒīĨī īī ī īĒīī ī īĄī īī īīī īī¨īžī ī ī īīī īŧī ī īī īĄī īīī ī īī īī ī ī¸ī īĩī īĄī īī īĨ ī īšīīīīīī īŋī ī īĨ ī īīīŠīĨī īŋī ī īĨīīī ī ī ī īī ī īĨī¨ī īšī ī īī īīīī ī īĄī īī ī ī īŋī ī ī īī˛īžīī¤īī¨ ī īīīī¸ī¤ ī īīīīīŠī¤ī ī īīžīĒīīīģī¸ī¤ īŋī ī ī¤īĄīīīīīī īīīī¤īī īīīīĨī īī īīīŦī¤ī ī īīī ī īžīīīī īī īīĻīī īī ī ī īīĒīīžīī¤īī īī īąīĄīīī ī īīī¨ī īžīīī ī ī īīīģīī¸īĸī īīī īīīīīī īī¨īžīī īŧīīĄīīĢī¤ī īīīĄīīžī¤īīī īī¸īĩīĄīīĨ ī īīīīĄī ī īŠīī ī īīī ī īī ī ī¤ī¨ī ī īīī ī īĒīĨ ī īīĄīī ī īīĒīīīĄīīīĸīīī¨ ī īēī¨īžī¤īī īŋīĨī īīģī§īąīī ī¨īī ī īĸīīŠīĸī ī¨īī ī īšīīīīīĄīī ī ī īīĻīīŖ ī īŊīŽīī īīī īšīīīĄīī¨ī īŋīĨī īžīĒīžīŠī¤īī īī īīīīīīĨī īąīīīī īīģī¸īīĨ Petroleum Today
- November 2012
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âĢØĨīģ§īģīēŽØ§Ø¯Ø§ØĒ īģīēØ˛īēīģâŦ
âĢâĒĪ Ī ĪĪÎΤΠĪÎίÎĪâŦâŦ âĢâĒÎÎÎĒÎŧĪÎ ĪĪĪŽĪŖ Ī°âŦâŦ âĢâĒ ÎâŦâŦ âĢâĒĪ´ÎâŦâŦ âĢâĒ ĪĻâŦâŦ âĢâĒΎΡâŦâŦ âĢâĒÎĪâŦâŦ âĢâĒ ÎâŦâŦ âĢīēŖīēīģīģīē īēīģīē¸īēŽīģīēâŦ âĢâĒ ÎÎÎÎĪ´Î´ĪΠίÎĪâŦâŦ âĢīē§īģŧīģ īģīēīģĄ âĒŲ ŲĄŲĄâŦâŦ âĢâĒŲĸâŦâŦ âĢīģīģ âŦ âĢīģ°âŦ âĢīģŖīģŽâŦ âĢīģīģâŦ âĢīēīģīē´īēīēŠīēą īģīģ īģ° īēīģīēâŦ âĢīēīģīēŧâŦ âĢīēĒīēīēīē īēīģ´īģĻ īēīģ¤īģ´īģâŦ âĢīģŽīēīģīģ° īģīģ´īģ¤īē īģŗīē¨īēēâŦ âĢīģŖâŦ âĢīēˇâŦ âĢīēīģ´âŦ âĢīēŽâŦ âĢīģīēâŦ âĢīģīēâŦ âĢīēâŦ âĢīēâŦ âĢīēīģâŦ âĢīēīģâŦ âĢīģīēâŦ âĢīģīēâŦ âĢīē¯âŦ âĢīē¯âĒØâŦâŦ âĢīēīģâŦ âĢīģīēīģīģīēīģĄ īēīģīēŽīēīēīģ īģīģ âŦ âĢīģīēīģ´īģīģ° īģīģ īē´īģ´īēīēīēīēâŦ âĢâŦâĢīģ° īēīģīēīģŽīēīģīģ° īģīģ´īģ¤īē īģŗâŦ âĢīē¨âŦ âĢīģīģ° īģŖīēŧīēŽ īģīģ īģīēīģĄâŦ âĢīēēâŦ âĢīēâŦ âĢīē¤âŦ âĢīģīēģīģ īē īģŖīēīģ´īģīēīēâŦ âĢīģŽīģŗâŦ âĢīģâŦ âĢīēīģâŦ âĢīē´īģ´īēīēīēīēâŦ âĢīēīģīē¸īēŽīģīē īģŖīģĻ īēīģīģīēâŦ âĢīē¯âŦ âĢīēâŦ âĢīģ¤īēâŦ âĢīē§âŦ âĢīģŗâŦ âĢīģŧâŦ âĢīģ¤īēâŦ âĢīģâŦ âĢīģâŦ âĢīģâŦ âĢīģ§âŦ âĢīģīēĢīģīģ īģīģ¤īē īģŗīģ īģ°âĒ:âŦâŦ âĢīēīģĄâŦ âĢīē´âŦ âĢīēīē âĒŲĢŲĨâŦâŦ âĢâĒŲĸŲ ŲĄŲĄâŦâŦ âĢâĒ ŲĒŲ¤Ų¤âŦīģŖīģĻ īēīēīģ¤īēīģâŦ âĢīēīģīģ° âĒŲ ŲĨŲĢŲŠŲĄŲĨâŦâŦ âĢīģ°âŦ âĢâĒŲĸâŦâŦ âĢīģŖâŦ âĢīģīēâŦ âĢīģŖīģ âŦ âĢīēīģ´âŦ âĢīēŦīģâŦ âĢīģīēâŦ âĢīģ´īģŽâŦ âĢīģâŦ âĢīģĨâŦ âĢīēâŦ âĢīģâŦ âĢīēīģâŦ âĢīģŖīēâŦ âĢīēģâŦ âĢīēŽâŦ âĢīģīēâŦ âĢīē¯âŦ âĢīģīēâŦ âĢīģŖīģīģīēâĒ.âŦâŦ âĢīģīģ° īģŖīēŧīēŽ īē§īģŧâŦ âĢīēīģ¤īēīģīģ° īģŖīēīģ´īģīēīēâŦ âĢīģŖīģīģīēâĒ.âŦâŦ âĢīģ īģīēīģĄ âĒ.ŲĸŲ ŲĄŲĄâŦâŦ âĢīēīģīē¸īēŽīģīē īģŖīģĻ īēīģīģīēâŦ âĢīē¯âŦ âĢīģŖâŦ âĢīģ¨īēŦâŦ âĢīēâŦ âĢīēĒØĄâŦ âĢīēâŦ âĢīģīģ¨âŦ âĢīē¸īēīģ īģīēŖīēâŦ âĢīģ°âŦ âĢīģ§âŦ âĢīģŦīēâŦ âĢīģŗīēâŦ âĢ īģīēģâŦâĢīģâŦ âĢīēŗâŦ âĢīēīēâŦ âĢīģâŦ âĢīģ¤īēâŦ âĢīēĒīēŠâŦ âĢīēŽ âĒŲĸŲ ŲĄŲĸâŦâŦ âĢīēīģīē´īģ´īēīēīēīēâŦ âĢīēīģâŦ âĢīēâŦ âĢīģ°âŦ âĢīģīģ¤âŦ âĢâĒŲ§âŦâŦ âĢīē¤īģŽâŦ âĢâĒŲ¤âŦâŦ âĢīģīēâŦ âĢâĒŲĢŲ¨âŦâŦ âĢīģâŦ âĢâĒŲĄâŦâŦ âĢīģĻâŦ âĢīēīģ¤īē īģŗâŦ âĢīģīēŽīģŗâŦ âĢīģŖīģ īģ´īēīē īģŖīēīēŽâŦ âĢīģ¤īēīģ īēīģ¨īē´īēīē âĒŲĒŲĨŲĄâŦâŦ âĢīģ īēīģīē¸īēŽīģīē īģīģŦīēŦīē īēâŦ âĢīģŖâŦ âĢīģīģâŦ âĢīģĻâŦ âĢīēâŦ âĢīēīģĄâŦ âĢīēâŦ âĢīēīģâŦ âĢīģ°âŦ âĢīģ¤īēīģâŦ âĢīģ°âŦ âĢâĒŲĄâŦâŦ âĢâĒŲ âŦâŦ âĢīģâŦ âĢâĒŲĄâŦâŦ âĢīēĒīēŠ īēīģīē´âŦ âĢâĒ ŲŠâŦīēŗīģ´īēīēīēâĒ.âŦâŦ âĢīģīēīēŦīģīģ īģīēģīģ īēīēâŦ âĢīģ´īēīēīēīē īēīģīģ¤īē¤īģŽīģīēâŦ âĢīģ¤īēīģīģ° īģīēĒīēŠ īēīģīē´īģ´īēâŦ âĢīēīēâŦ âĢīģīģ° īģŖīēŧīēŽ īē§īģŧâŦ âĢīēâŦ âĢīģâŦ âĢīēâŦ âĢīģâŦ âĢīģīģ¤âŦ âĢīēīģĄâŦ âĢīē¤īģŽâŦ âĢâĒŲĄâŦâŦ âĢīģīēâŦ âĢâĒŲĄâŦâŦ âĢâĒŲ âŦâŦ âĢâĒ.ŲĸâŦâŦ âĢâĒ Ų§ŲĨŲ§Ų§Ų¨âŦīēŗīģ´īēīēīēâĒ.âŦâŦ âĢīģīģĻ īģīēŽīģŗâŦ âĢīģâŦ âĢīēīģâŦ âĢīē¸âŦ âĢīēŽâŦ âĢīģīēâŦ âĢīģŖâŦ âĢīģ¨īēŦâŦ âĢīēīēĒØĄ īēīģīģ¨īē¸īēīģ īģâŦ âĢīēŖīēīģ° īģ§īģŦīēīģŗīē īēŗīēīēâŦ âĢâĒĪÎίÎĪâŦâŦ âĢīģ¤īēīēŽ âĒ ŲĸŲ ŲĄŲĸâŦīēīģīģ°âŦ âĢ âĒĪ ĪÎ Ī°Ī Ī ĪĪÎΤÎâŦâŦ âĢâĒĪ°âŦâŦ âĢ âĒĪŖâŦâŦ âĢâĒÎĒĪâŦâŦ âĢâĒĪâŦâŦ âĢ âĒÎâŦâŦ âĢâĒÎĪ§âŦâŦ âĢâĒÎθâŦâŦ âĢīģīēīģŖīē īēīģīē¸âŦ âĢâĒ Ī°ĪÎÎŽĪÎ ÎâŦâŦ âĢīēŽīģīē īē§īģŧīģ īģīēīģĄâŦ âĢâĒŲĄâŦâŦ âĢâĒŲĄâŦâŦ âĢâĒŲ âŦâŦ âĢâĒŲĸâŦâŦ âĢīēīēâŦ âĢīģīēâŦ âĢīēīēâŦ âĢīēĄâŦ âĢīēŗīēīģĢīģĸ īģâŦ âĢīēīģīēž īēīģīģ¤īē¤īģīēīēâŦ âĢīģ° īēŖīģīēīģ īēīģīē¸īēŽīģīēâŦ âĢīēīģâŦ âĢīē âŦ âĢīģīģ âŦ âĢīēĒīģŗâŦ âĢīģ°âŦ âĢīēĒīēâŦ âĢīēâŦ âĢīēâŦ âĢīģīģ âŦ âĢīģĢīģ¤âŦ âĢīģ°âŦ âĢīģŦīēâŦ âĢīģŖâŦ âĢīģŖīēŧīēŽ īģŖâŦ âĢīģīēĒīģ īēâŦ âĢīģŖīē¤īģīēâŦ âĢīģ§īēīē¸īēīē īēīģīēŽīēīģīģ°âŦ âĢīģĻ īē§īģŧīģ īēīģģīģ§īēīē¸īēâŦ âĢīģ° īēīģīģīēīēīēīģ¯ īģīģŖīē¤âŦ âĢīēâŦ âĢīēīģ´âŦ âĢīģīēâŦ âĢīģĻâŦ âĢīģīģ âŦ âĢīēâŦ âĢīēâŦ âĢīģīģâŦ âĢīģ°âŦ âĢīģ¤īģ´âŦ âĢīģŖâŦ âĢīēŧâŦ âĢīģâŦ âĢīē´âŦ âĢīēŽâŦ âĢīēīģâŦ âĢīēâŦ âĢīēīģŽâŦ âĢīē¸âŦ âĢīģīģâŦ âĢīģ¯âŦ âĢīģ´īģ¨īģ° īģŖīģ¤īēâŦ âĢīēŽīģīēīē īēīģīģīēīģŖâŦ âĢâĒ ŲĸŲ¤âŦīģŖīē¤īēīģīģīē īģŖīģĻâŦ âĢīģ īē īģīģ° īģŖīē īēīģ īģīēâŦ âĢīģŖīē¤īēīģīģīēīē īēīģīē īģ¤âŦ âĢīģŦīģŽâŦ âĢīēâŦ âĢīģŗīēâŦ âĢīēâŦ âĢâĒĪ ÎÎĒĪ´ÎŖĪŽĪÎâŦâŦ âĢīģīēâŦ âĢīē¯ īēīģīē´īģ´īēīēīēīē īģīģ°âŦ âĢīģ°âŦ âĢīēâŦ âĢīēŧīģ īēīģīģ´īģŦīēâŦ âĢâĒΎθĪÎĪ ÎŽÎŧĪŖ Ī°âŦâŦ âĢâĒĪâŦâŦ âĢīēˇīēâŦ âĢ âĒÎâŦâŦ âĢīģīēâŦ âĢâĒĪˇâŦâŦ âĢâĒĪâŦâŦ âĢīēīģâŦ âĢâĒÎŗâŦâŦ âĢīģīēâŦ âĢâĒĪâŦâŦ âĢīē¯âŦ âĢ âĒÎâŦâŦ âĢīēīģâŦ âĢâĒÎĪâŦâŦ âĢâĒÎ Ī°âŦâŦ âĢīēīģ¨īģīēŽīēŠ īēˇīēŽâŦ âĢīģīēīģ´īģīģ°âĒ.âŦâŦ âĢâĒÎÎΧΠÎĪŖÎĒΧ ĪĄÎĒĪâŦâŦ âĢīģīē īģīēīē¯īēīģ īēīēīģīēĒâŦ âĢīģŗīģĸâŦ âĢīē§īēĒâŦ âĢīģŖīēâŦ âĢīēâŦ âĢīē§īēâŦ âĢâĒÎÎĪ§ÎĪŽĪÎŗĪšÎ ÎÎâŦâŦ âĢīēīēâŦ âĢīēīģ¤īģŦīģŽīēâŦ âĢīē īēīģģâŦ âĢīģŗīē īģŖīēŧīēŽ īēīģīģīēŽīēīģ´īēâŦ âĢīēŗīģīģŽīēīģ§īēīē īģīģīēīģīēâŦ âĢīģŖâŦ âĢīģĻâŦ âĢīģīģ¤âŦ âĢīē§âŦ âĢīģŧØĄâŦ âĢīģŧâŦ âĢīēīģâŦ âĢīģâŦ âĢīē¸âŦ âĢīģŖâŦ âĢīēŽâŦ âĢīēŽâŦ âĢīģīēâŦ âĢīēīģīē° īēâŦ âĢīēīēâŦ âĢīģīēĒīēŠ īēīģģīēŗâŦ âĢīģīģŽīēīģ§īēīē īēīģīģ¤īē¨īēīēâŦ âĢīģīģīēīģŖīģ īē īģīģ˛ īģŖīē īēīģâŦ âĢīē§īēīēīēīē īēīģģīēŗīģīģŽīēīģ§īēâŦ âĢīēŽīēâŦ âĢīēâŦ âĢīģīēâŦ âĢīēâŦ âĢīēīģ¤âŦ âĢīē¯âŦ âĢīģīēâŦ âĢīēŽâŦ âĢīēīēâŦ âĢīēīģâŦ âĢīēīģâŦ âĢīē´âŦ âĢīģīēâŦ âĢīē°âŦ âĢīģ´īēâŦ âĢīģâŦ âĢīēâŦ âĢīēīēâŦ âĢīģŦīēâŦ âĢīēŖīēâŦ âĢīģģâŦ âĢīē§īēīēīēīēâŦ âĢīģīēīģīģ¤īģ¨īēâŦ âĢīē īēŠīēīē§īģâŦ âĢīģ° īģ§īģŦīēīģŗīē âĒ.ŲĸŲ ŲĄŲĄâŦâŦ âĢīēīģīēīēīēīģīē īģīģ īē¸īēŽīģīēâŦ âĢīē¸īēŽīē īģīģ° īēīģ§īē¤īēØĄ īēīģâŦ âĢīēīģâŦ âĢīģ°âŦ âĢīē īģ¤âŦ âĢâĒŲ¨âŦâŦ âĢīģŦīģŽâŦ âĢâĒŲŠâŦâŦ âĢīēâŦ âĢâĒŲ âŦâŦ âĢīģŗīēâŦ âĢâĒŲĸâŦâŦ âĢīģâŦ âĢâĒŲ§âŦâŦ âĢīēâŦ âĢīģīēĒâŦ âĢīģīēģīģâŦ âĢīēŗīģīģŽīēīģ§īē īģŖâŦ âĢīģ¨īēŦ īēīēĒØĄ īģ§īē¸īēīģ īēīē§īēâŦ âĢīēīēīē īēīģģīēŗīģīģŽīēīģ§īēīēâŦ âĢÎâĒÎŽÎĪΠ˯ÎθĪ§âŦâŦ âĢ âĒĪĻĪŗĪŽĪ¤ÎĪ ÎĪΤĪŖâŦâŦ âĢ âĒÎâŦâŦ âĢâĒÎĪˇâŦâŦ âĢâĒĪŽâŦâŦ âĢâĒĪ´ÎâŦâŦ âĢâĒÎδâŦâŦ âĢâĒÎâŦâŦ âĢ âĒÎâŦâŦ âĢīģīēīģŖīē īēīģīē¸īēŽâŦ âĢâĒĪÎŗĪĪˇÎ ĪΎθĪÎâŦâŦ âĢīģīē īēīēīģ¨īģīģ´īēŦ īģŖīē¸īēŽīģâŦ âĢīģâŦ âĢīēīģ§âŦ âĢīē¸âŦ âĢīēØĄâŦ âĢīēâŦ âĢīģīēâŦ âĢīēŽâŦ âĢīģŖīē¤âŦ âĢīģ§īēŧŲīēŽ īģīēīģīēâŦ âĢīģŖīē´īēīģīē Ų īģ˛ īēīģŲŲŲīģŽīģĄ īēīē¸īē¤īģĻ âĒ ŲĨŲ âŦīēīēīģŽīēīģ´īē˛ īģīēŲ īģīēīģ¤īģŽīģŗīģĻ īēīģˇīēīģŽâŦ âĢīēīģ´âŦ âĢīē´īēâŦ âĢīēâŦ âĢīēīēīģâŦ âĢīē¸âŦ âĢīēŽâŦ âĢīģŗâŦ âĢīģŧâŦ âĢīģ īēīģˇīģīēŗīģâŦ âĢīēīģīģ° âĒ ŲŖŲ Ų âŦīēīēīģŽâŦ âĢīģŽīģŖīģ´ŲŲŲīē īģīēīģīģ¤īē¤īģīēâŦ âĢīēīē īēŽīēīē īģĢīģ´īēīē īēīģâŦ âĢīēīģ´īē˛ īģŗīģŽīģŖīģ´īēŲâĒ .âŦīģīģ¤īēâŦ âĢīģŖīē°īģīēŠīē īēīēīģšīģ§īē¸īēâŦ âĢØĄīēâŦ âĢīēˇâŦ âĢīģīēīē¸īģīģ´īģâŦ âĢīēâŦ âĢīēŽâŦ âĢīēâŦ âĢīģâŦ âĢīēīģâŦ âĢīēīģŽâŦ âĢīģ¨īģīģ īēīģīģīēīģĄ īēīģ¤īēĒīģŗīģ¨īēâŦ âĢīēīģ´âŦ âĢīēâŦ âĢīģŧâŦ âĢīē¯âŦ âĢīē´īēâŦ âĢīēīģâŦ âĢīģŖīēâŦ âĢīē¸âŦ âĢīēâŦ âĢīģĢīģ´īēīē īēīģīģ¨īģâŦ âĢīēŽīģīē īģīģ° īēâŦ âĢīģīē°īģŗīēīēŠīē īģīēâŦ âĢīģâŦ âĢīģ¨īģâŦ âĢīēâŦ âĢīģīēâŦ âĢīģ´īēŦâŦ âĢīģīģâŦ âĢīēīģ¤âŦ âĢīēīģĄâŦ âĢīēīģâŦ âĢīģŽīģŗâŦ âĢīģ īģ´âŦ âĢīēīēīģâŦ âĢīģĻâŦ âĢīģīēâŦ âĢīģâŦ âĢīēâŦ âĢīģĢâŦ âĢīģīģ¤âŦ âĢīģâŦ âĢīē¤īģīēâŦ âĢīģīģīģ¤īģ īģ´īēīē īēīģīēâŦ âĢīē¯īēīēīēâŦ âĢīēŽīē īēīēīģīģīēâŦ âĢīēīģīēīēīēŽīģīģ īēīē¸īēīģĨâŦ âĢīē¸īģīģ´īģ īģŖīģĻ īē§īģŧīģâŦ âĢīē¯ īēīģīģīēīģ´īģīģ° īģīēīē¤âŦ âĢīēâŦ âĢīēīģ§âŦ âĢīģīģ´âŦ âĢīģīģ¤âŦ âĢīē¸âŦ âĢīģâŦ âĢīē¸âŦ âĢīēØĄâŦ âĢīģĢīēĒâŦ âĢīģŖâŦ âĢīēŽīģâŦ âĢīē¤âŦ âĢīģâŦ âĢīģâŦ âĢīģīēâŦ âĢīēīģâŦ âĢīēīģâŦ âĢīē¤âŦ âĢīēâŦ âĢīģīēīģ âŦ âĢīģīēīģīēīē´īēīēīģ´īģĻâŦ âĢīģīēīģ¤âŦ âĢīģīģ¤īģŧīģâŦ âĢīģīģ īģ° īēīģīēīģ´īēīē īģīēīģīģŽâŦ âĢīģŽīģŗīģĻ īēīģˇīēīģŽīēīģ´īē´īēīēâŦ âĢīģīēŖīģ īģŽīēīģĨ īģīēˇīēīēīģâŦ âĢīēīēīģâŦ âĢīēīģŽâŦ âĢīēģīģŽâŦ âĢīēâŦ âĢīģīēâŦ âĢīģâŦ âĢīē¯âŦ âĢīēŗâŦ âĢīģˇâŦ âĢīēīģâŦ âĢīģīģ´âŦ âĢīģīģ âŦ âĢīēĒâĒ.âŦâŦ âĢīģīēâŦ âĢīģ°âŦ âĢīģ´īģâŦ âĢīēâŦ âĢīģ°âŦ âĢīēĒīģīģ¯âŦ âĢīģīģ° īēīēŽīēâŦ âĢīēīēīē īģĢīģ´īēīē īēīģīģ¨īģīģâŦ âĢīēīģīģīēīģĄ īēīēīģīģ¤īģīēŽīģŗīēâŦ âĢâĒĪˇÎ ĪÎίÎĪâŦâŦ âĢâĒÎ ÎŽÎŧĪŖ Ī°Ī Ī°ĪĪâŦâŦ âĢâĒÎĪâŦâŦ âĢâĒ Ī°âŦâŦ âĢâĒĪÎâŦâŦ âĢâĒĪĄĪŽâŦâŦ âĢ âĒÎâŦâŦ âĢīēīģīēīēīēŽâŦ âĢâĒĪ§ÎâŦâŦ âĢīēˇīēŽīģīē īģīēīē¯īēīģ īēīģīģīģ° īēīģīē¸īēŽīģīēīē âĒĪ¤Ī§ ÎÎĪΤĪŖ ˯ÎθâŦâŦ âĢâĒÎĪ ĪŖÎĪÎĪŖ ÎĪ´ÎÎĢĪŽâŦâŦ âĢīģâŦ âĢīģ°âŦ âĢīēâŦ âĢīģ§īģ¤īģŽīēĢ īģ´īē īģŖâŦ âĢīģŖīēŧīēŽâŦ âĢīēīģīēīģŖīģ īē īēīēīģīģ¤īģĻâŦ âĢīēīģīēīģ° īēīģīģŽīģĄ īēīēīģ¨īģâŦ âĢīģīēâŦ âĢīģ´īēŦâŦ âĢīģīēâŦ âĢīēīģŽâŦ âĢīēīģâŦ âĢīēīģĒâŦ âĢīē¨īēĒâŦ âĢīģŖīēâŦ âĢīģâŦ âĢīēâŦ âĢīē¯īēâŦ âĢīēīģīē´īģ´īēīēīēīēâŦ âĢīēīē īēīģâŦ âĢīēīģīēīģ° īģŗâŦ âĢīēīēīēŽīģīģ īģīģ´īģ¤īē īģŗīē¨âŦ âĢīēīģīē´īēīēīģ īēīēīģīģīēīē¯ īēīģīģīēīģ´īģīģ° īēâŦ âĢīē¤īēīēīēīģŦīē īēīģīģīģ¤īģ´īģâŦ âĢīģīģ¤âŦ âĢīēēâŦ âĢīģŖâŦ âĢīģâŦ âĢīģĻâŦ âĢīēīģ§âŦ âĢīē¸âŦ âĢīģīģŽâŦ âĢīē§âŦ âĢīēØĄâŦ âĢīģŧâŦ âĢīģâĒØâŦâŦ âĢīģŖâŦ âĢīģâŦ âĢīģŖâŦ âĢīē¤âŦ âĢīģŖâŦ âĢīēŽīģâŦ âĢīē°âŦ âĢīģīēīēâŦ âĢīē¸īēŽīģīģâŦ âĢīģīēīģīē´īģŽīģģīēâĒ ØâŦīģīēīēˇīēâŦ âĢīģīēīē¤īģŽīģŗīģ īēīģīē´īģ´īēīēīēâŦ âĢīģŖīēīģīēīģŖīģ īģŗīēīģīģ¤īģĻâŦ âĢīģīēīģīēĒīģŗīģĸ īē§īēĒīģŖīē īģŖīēâŦ âĢīē īģīģ īģīģ¤īģ īēīģ¨īģīēīģĄâŦ âĢīēâŦ âĢīģīē´īģ´īģâŦ âĢīēīģâŦ âĢīģīēĒâŦ âĢīēīģâŦ âĢīģŽīģâŦ âĢīģŖīē¤īģīē īģīēīģ¤īģŽīģŗīģĻâŦ âĢīēīģ´âŦ âĢīģŽīēŠâŦ âĢīģâŦ âĢīēâŦ âĢīģâŦ âĢīģīģ¤âŦ âĢīē°âŦ âĢīēģâŦ âĢīēŗīģ´īēīēīēīēâĒ...âŦīēīģīēĻ(âĒØâŦâŦ âĢīģ´īēīģ§īē īēīģīē´īģ´īēâŦ âĢīēŠīģīēâĒ ØâŦīģŖīē¤âŦ âĢīēīēâŦ âĢīģīēâŦ âĢīģâŦ âĢīēâĒØâŦâŦ âĢīēīģ¤âŦ âĢīģŖâŦ âĢīģŽīģŗâŦ âĢīēŽīģâŦ âĢīģĻâŦ âĢīē°âŦ âĢīēīģâŦ âĢīģŽīģīģŽīēŠâŦ âĢīē§īēĒīģŖīē īģīģ īē´âŦ âĢīģ´īēīēīēīē )īēŋīēīģ īēâŦ âĢīģīēīēīēīēâĒ /âŦīēīē¸īē¤īģ´īģĸâĒ/âŦâŦ
âĢâĒ33458059âŦâŦ
âĢâĒZZZ gastec-egypt FRPâŦâŦ
ī īĸīīŠī˛īī ī īīī¨īī¨īīīī īīīīīī īĸīī¸īī īĢīīģīīīī īīīĄīīī īīĄīīĨī īīīī ī īīīīīī īī īīĸīīŖī¤īī īīīīĄīī īĸīīīīī¨ī īīĄīīŠī˛ī¤īī īīīīīĄīī¤īī¨ī īīīīžīĄīī¤īī¨ī īīīīīī¤īī īīĒīī¨ī īĸīīīīīĩīī¸īīĄīī īĸīīī¸īŖīīīĻī īžīīĄīī¤īī īŧī¸īĄī ī īīīīīī īĸīī¸īī īĢīīģīīīī īīĄīīĨī īīīĄīīī īīīĻīžīŠīīī īī¨īī¤īī¨ī īēī¨īĢīī¤īī īīĒīī¨ī īēīīģīŖī īīĨīīĄīīī ī īĸīīžīžīīģī¸ī¤ī ī īīīīī īīī¤īīī īī ī īī¨īī¨īīī ī īĸīīīīī īĸīīŠīĸī īī¯īĄīīī īī˛īŖīžīīī īī īīĸīīŖī¤īī īīĒīīĄīīĸī īīĄīīĸīīžīī ī īŠīģīĄīīĒīī īąīŗī īŦīąī˛ī īīĨīīĒī īēīŽīī īĸīīŠīĸī īī īžī˛īŠīīĄīī īīī¤īī īīī¨īī¨īīī ī īŽī īīī¨īī¨īīīī īīīīŽī¤ī īīī¤īīīī īīī¨īžī¤ī ī īīŠīī īīī¤ī¨ī īī˛īŖīžīīī īī īŠīŠīĩī¤īī īī¤ī¨īžī¤īī īī§īīīīīīīī īĢīīģīīīīī īīīīīĄīī īī īīģī¸īŖī īīī˛ī¤ī īīī īīĄīīĨī īŊīī˛īī īīīī īīĄīīŠī˛ī¤īī īīĒīīī¤īī ī ī¤īīī¨ īŽī īīī¨īī¨īīīī īīīīīī īēī¨īžī¤ī īīī¨īīīīī īēī¨īžī¤īī īīīīģīī īšīīīģīī¤ī ī īĄīīĻīīīī¨ī īēī¨īĢīī¤īī īīīīžīĄīī īī īī¸īĒīī ī īŋīĒīžī¸īī¤īī īīīĒīī¨ī īīĄīīīīīī īīĄīīŠī˛ī¤īī¨ī īīīĄīīīī ī˛īīĻīīīī ī˛īī īīžī˛īī īīī¤īī īīŖīĢīĄīīīī īīīīīīīīī īīĄīī¸īī īēīŽīī īļī¤īī īīī īŽīĸīīžīīĄīīīī¤ī īĸīīīīīĄīī īīĄīīĨī īī īĸīīŠīĸī īąī¯īĄīī¨ī īĸīīŠīĸī īī īīĄīīĨī īąī¯īĄīī īŊīīīīī īīīžīĨī īīąī¯īĄīī¤īī īīīĄīīī ī īīī¤ī¨īĢīī¤īī īīīīĸīī¯īīīī īžī˛īī īēīīī īī īīĄīīĨī īīŠīīī īīĻīīŠīīĄīīīī ī ī¸īī īīĄīīŠī˛ī¤īī ī īĻīīīī īīī ī īī ī ī īēīīģīŖī īīĨīīĄīīī ī īĸīīžīžīīīī īīīĄīīīī¨ īŽīąīīĄīīĩīīĄīīīī¨ī īīīī¸ī¤ī īīīīīŠī¤īī īīīžīĒīīīīī īīīī¨ī ī īĨīīīĄīī¤īī īīĄīīīī īīīĄīīīīī¨ī īī˛īīģīŠī¤īī īīīīīī īī īīĄīīīī īīīŦī¤īī¨ī īēī¨īĢīī¤īī īŋīī īīīī¸ī¤
īīīĒī¨īīģīīŖī¨ī īĢīī¸ī¤ī īīīīīžīĄīī īīīŠīģīī īīīĄīīĻī īī īīĄīīīīĸī īīŖīīĄīī īĸīīīĄīīīī īīīžīī īīīī¸īĨī 50ī ī ī
ī īŋīĄīīžīī īīĒīīīŠīĄīī¤īī īīĩīĨīīīīī īīŖīīĄī ī˛īĩīī īī īīģīī¸īĸī īīī īī§īī˛īĨ ī īīīīĻī īī īīīŖīīĄīī īŠīŠīŖī īīĒīīīŠīĄīī¤īī īīĩīĨīīīīī īīŖīīĄīī īīžī¸īīī ī īīĩīĨīīīī ī īīŖīīĄīī īĸīīīĄīīīīī ī īŋīī īīīīīīĨī īīīŠī¤īī īī īēī¨īĢīī¤ī ī īīīžīīĄīī¤īī īīģīĄīīīŠī¤īī īī īīģīī¸īĸī īīī īī§īī˛īĨī īīīīīĄīī¨ī īīīĄīīī ī īīīĢ ī¤ī īŗīīīžīīī īĢīīĄīīīī īŋīĨī īīžīīī¨ī īī īī§īīīī¨ī īīīŠīī¤ī ī˛īĩī ī īīīīīīīĢīĄīī īīī īīīģī§īīīī ī ī¸īī īŋī§īŠīī īīīŖīī īī īīīŠī¤īī ī īŽīīŖīīĄīī¤īī īŠīžī¤ī īīīĄīīīī īī˛īŖīžīĨī īīīī ī īĻīī īīī¤ī ī īīīĩī¸īīī īīŖīīĄīī ī ī§ī¨ī īīīĄīīī ī īīĩīĨīīīī ī īīŖīīĄīī īīīĩīīĄīī¨ī ī īīģīĄīīīŠī¤ī ī īŋī ī īĨ ī īīīīī¨ ī īšīĨīīĩī¤īī ī īīĒīīīŠīĄīī¤ī ī īī ī īĩī īĨīīīī ī ī˛īī īīīīīī¤īī īšīĨīīŠīī¸ī¤ī īīŖīīĄīī¨ī īīī¤ī īīīĢ ī˛īĨī ī˛īĩīī īīīžīīĄīī¤ī ī īīīī˛īĨ ī īīī¤ ī īīīĩīīĄī ī īīģīŖ ī īŦī˛īĄīī¤īī¨ ī īīĒīīīŠīĄīī¤ī ī īīĩīĨīīīī ī īī§īī˛īī īīĄīīĄīī īīīī ī˛īĨīīĒīī¨ī īīīīŦīžīĄīī īīīžīĒīžīĨī īī īīīģīīī īŽīīģīī¸īĸī īī ī īīģīĄīīīŠī¤īī īī īŧī ī īī īĸīī ī īīī ī ī¤īī īīī ī īī īī īĄīīī īšī ī ī¯ī ī ī ī ī ī īĄī¨ī ī īīĒīīĩīī¤ī ī īĸīīīīī¤ ī ī ī¸īīīī ī ī īīīžī¤ī ī īžī ī īŖīī ī ī˛īĩī ī īīīžīīĄīī¤ī ī ī ī ī īī§īī¤ī ī īžīīĄ ī īŋīģīīī¤ī ī īžīī ī īŗīĒīīĄīīī¤īī¨ ī īīīīŠīīī¨ ī ī ī īžī ī īĒīžī ī īī ī īīŖīīĄīī¤ī ī īī˛īĨ ī īīī ī īīī¯īīĄī ī īīīīĒīīĄīī ī īšīĩīĄīīī īīīīīī¸īģīī īīĒīīŠīī īī īīģīīĨī īīīīŖīī īīīĩīīĄīī ī˛īĩī ī īīĒīīīīī¤īī īĸīīī¯ī¤īī¨ī īīīģīīīĄīīīī īīīīīĄīīĻī īīīī¤īīī¨ī īŊīī ī īīĒīīīŠīĄīī¤īī īī īŠīŠīĩī¤īī īĒīĒīīīĄīīīī īŋīī īīīĄīīžīī īīī¤īī īŠīīīīī īŽīīīĄīīīī īīīīĸī¨
ī īīĨīīŠī¤ī ī īīīīī¤ī ī īīīīī ī ī īĸīī¸ī ī īŗī ī īĄīī¨ ī īŊīīīĸ ī ī ī¸ī ī īĢīīģīī īīī ī īīīīīžīĄīī¤ī ī īīīģīžīī¸ī¤ ī īīŖīīĄī ī īĸīīīĄīīīī ī ī ī īīģī§īīĄīīīī ī īīīīī¤ī ī īīąīŦīĄīī īīīīīžīĄīī īīīŠīģīī īīīĄīīĻī īī īīĄīīīīĸ ī īīīīī īīīī ī ī¸īī īīīĒī¨īīģīīŖī¨īĢīī¸ī¤ī īīŖīĄīīīīĨī¨ ī īīīģīžīī¨ ī īīīīī īī¨ ī īīī ī īĄī īī īĻī ī ī īŊīī ī īī īĨ ī īīŖīīĄīī¤ī ī īĢīī¤ī ī īīīīīžīģī¸ī¤ ī īīīīīžīĄīī¤ī ī īīīŠīģīīī¤ī ī īīīīŠīī¤ī âī īžīīīĄīīī¤ī"ī īīīīī īī īīĒī¨īīģīīŖī¨ ī īīīīīžīĄīī¤ī â ī īīīĩīīīĄīīŽīī¤ī ī ī°īī¸īŦīī¤īī¨ ī īŽīĸīīīīī īĢīīŖī˛ī¤īī īŋīĨī īŋīĒīīģīīīĄīīīī īīŖīīīĄīīī īŦ"īīīīīīĄīī¸ī¤ī īīĒīīŦīī ī īĒīīĸīī ī ī ī īīĻīī ī īīīīīžīĄīī¤ī ī īīīģīžīī¤ī ī īīīī§ ī īīīīī ī ī īĸīī¸ī ī īĸīīīī ī īīžīīžī¤ī ī īšīīīīģīĄīī ī ī īĸīīžīžīīī ī īīĄīī¨īīī¨ ī īīīģīžīī¸ī¤ ī īīĨīīŠī¤ī ī īīīīī¤īī¨ ī īīīĒī¨īīģīīŖī¨ ī īĢīī¸ī¤ ī īīĄīīīī˛ī¤ī ī īīĒīīĄīīī ī īīŖīīĄīī¤ī ī īŋīĨ ī īšīŖ ī ī˛ī ī īī¨īīŠī ī īēīīŖīīī¨īī ī īīīī¨īīĄīīģī¸ī¤ī īīīī¯īžīī¤īī īīīīīī¨ī īīīģīžīī¸ī¤ī īīīīģīīīīī ī´ī¨īžīžīĄīī¤īī¨ī īīīģīīīĄīīŽī¤ī īīĨīīŠī¤īī īīīīī¤īī¨ī īīīīīžīĄīī¤ī ī īīīīīīžī¤īī īīīīīžīģī¸ī¤ī īīŖīĄīīīīīī¨ī īīąīŦīĄīī¤īī īīīī¨īīĄīīģī¸ī¤ī īīīīīžīĄīī īīīŠīģīī īīĨīīĸī ī ī īīīžīĒīžīŠīī¤īī¨ī īīīīīžīĄīī¤ī ī īīī¤īīīī īīīĒī¨īīģīīŖī¨ī īĢīī¸ī¤ī īīīĨīī˛ī¤īī īīŖīīī īīīī¨īīĄīīĨī īŋīĨī īīīīīīĻī īī īŧīīĒī īīī¤īī īŊīīīī īīīīīī īŊīīžīīīĄīīīī īļī¤īī¨ īŽīīī¸īī˛īīĄīīīī¨ ī īīžīĄīīīī īēīīīī īĸī ī īīīīī¨ī īīīžīī īīīī¸īĨī īīīĄīīģīī īīīžīĸī īĸīīīīīī īīŖīīĄīī¤īī īēīīĨī īĸī ī īīīīī īīī ī īīžīīžī¤īī īąīīĄīīīī¨ ī ī˛īī īī¨īīĄīīī¤īīī īīīīīĨī īīīžīī īīīī¸īĨī ī˛īĄīīģīī īī§ī īīīžīĨī īĢīīĄīžīīī īēīīīī īĸīīīīī īīīĩīĒī īīīī ī ī¸īī īīīžīī īīīī¸īĨī īī¨īīĄīī ī īīīīīžīĄīī¤īī īīīģīžīī¸ī¤ī īīĨīīŠī¤īī īīīīī¤ī âī īīīĒī¨īīģīīŖī¨ī īĢīī¸ī¤ī īīĄīīīī˛ī¤īī īīŖīīĄīī¤īīŠī ī ī§ī¨ī īīŠīīīīīī īēīīŖīīī¨īŠī¤īī īīīī īŽī¨īīīžīĒīžīŠīī¤īī¨ī īīīīīžīĄīī¤īī īīīī¨īīĄīīģī¸ī¤ī īīīī¯īžīī¤īī īīīīī âī īīīģīžīī¸ī¤ī īīīīģīīīīī ī´ī¨īžīžīĄīī¤ī â
īīī¨īī īīīī¸īĨī īļīīąī īī īī īĸīī¯īīžīī īšīĄīī īīīīīīī ī īŽīŽīŽīŽī īīīīĻī īīī īĒīīīīī¨ī īīīŠīĄīīīīī īĸīīī¯īīĻīī ī īīĄīī ī īšīīīīĄīī¤īī īŋīĨī īīīīŠī¤īī īīŖīīĄīī¤īī īīīīĻī ī ī īĒīīīīī īī īīīžīĨīī ī īŽīĨī ī´ī īīīŦī¤īī īīīīĻī īī īĒīīīīī¨ī īĨīĩ ī īīīīīžīīīĄīīī ī ī°īĒīīīĄīīī ī īīīĄī ī īī ī ī īēīšīĄīīģ ī īī¤īīĸī¨ ī īīīĄīīĄīī īīīīĒīīī īīĻīīī˛īĨī īīī¨īī īīīī¸īĨī ī´īŗī˛ī īī¤īīī¤īī īĒīīī¸ī¤ ī īīīī¸īĨī īąīŗī´ī īīĢ īĄīīĒīī ī īšīģīĄīī īŊīīī īšīīĸī īīĢ īĻīīī¸īĨī ī˛ī´īĩī īī§īīžīĸ īŽīīīĻīīĻīīĸī¨ī īīīīīī īīīžīī¤ī īīī¨ī 5
Petroleum Today
ī īīģīīīžī¤ī ī īīīīīžīīīĄīīī ī ī°īĒīīīĄīīī ī īīīŠīīīĄīīīī¨ ī īŊīī ī ī ī īīīŦī¤īī īīīŠīĄīīī ī ī°īŠīĄīī ī īīĄīīī īēīīĄīīī ī īīģīīĸī īĸīī¯īī īŋī ī īšīĨīīīī¨ ī īīīĻīīŖīĒīī ī īīīīĒīīĄī ī īīŽīĒīžīŠīī¨ ī īīĩīĒīīĨīīī ī īīī¨īī īīīī¸īĨī īļīīļī īīŦī¸īī īīŖīīĄīī¤īī īīī ī īīīī ī īī īī īĄ ī īŠīī ī īīī ī īīīī¸īĨ ī īļīīŗ ī īīī ī īīīīī ī īī¸īī ī īīī ī īīīŠīĸīī ī īīī¸ī¸ī ī īīī ī īŖī¨ īŽīīī¨ī ī īīī¯ī¤īīī īīīīīĻī īīĒīąīīīĻī īī īīīīĻī īīī ī°īĸīīī īŧīīĄīīīī¨
- November 2012
ī īīŖīīĄīī īŠī ī īŖīī ī īĻīī ī ī ī īēīšīĄīī īĸī ī īī īīīī īēīī ī īĒī¨īīģī īī¸īīĄī ī īīīīīī ī ī ī īĨ ī īąīĩ ī īīīīĄīīĻ ī īīĢ īĄīīī¯īīĻī ī īīīŠī¤ī ī ī ī ī¤ī¯īžī¸ī¤ ī ī¤ī¯īžī¤ī ī īīī ī īŠī īĄī īīī ī īĸīīī¯īīĻī ī ī īŦī ī īī ī ī īī¤īīī¤ī ī īĒī ī īīī ī ī¤ī ī īĸīīĨīīī§ī ī ī¸īī īīīīīžīīīĄīīī ī°īĒīīīĄīīĨī¨ī īīīīĻī īīī īĒīīīīī¨ īŽīīĒīīĩīī¤īī īīŖīĄīīĻīīī īī īīĒīīĸ īĢ ī īļīīąī īī ī ī§īīžī ī īĸ ī īīīĄīīĄīī īī ī īīī ī īīīī ī īēīšī ī īĄī īīģī īī ī īžī ī¸ī īīīī¨ ī īšīīĸ ī īīī¨ī ī īīīī¸īĨ ī īˇīī˛ ī īŋīĨ ī īīĢ īĄīīī¯īīĻī ī īīī¨ī ī īīīī¸īĨ
īīĄīīĨī īī īīīīīīīģīīīĄīīī īīīīĒīī¤ī ī¤īŖīīī ī īīĒīīī¤īīīī īĸīīīĻī ī¨īĢīī īīŖīīĄī ī īīĄīī īąīžīīīĄīīī īīīŖīīĄīī īīī ī īīīĄīīīī īēī¨īĢīī¤īī īĢīīŖīĸī īī īī¸īĨīīŠī¤īī īīĒīīī¤īīīī īĸīīīĻī ī¨īĢīī īīŖīīĄīī īĸīīīīī ī˛īĨīīīī īžīģīī īžīŖīī ī ī īīīīīī īī īī¯īī¸ī¤ "Aī īš"ī īī¸īīīīī īīī¯īžīī īīīžīīī īŋīĨī īīžīĒīžīīī īīīī¨īīĄīīīī īŋīĨī īīžīī īīī¯īžīī¤ī īīĄīīĨī īī īīžīĒīžīī īīīīīģīīīĄīī ī īŽīīī¨īī īīīī¸īĨī īąīīĩī īī īī īšīĄīīī īīīīīģīīīĄīīīī īī˛īīģīŠī¤ī ī īīīŦī¤īī īīīīĻī īī īŧīīī īīīī īī īī īīžīīī¤īī īžīīŠī¤īīī īīĒīīī¤īīīī īīīī¯īĄīī¤īī īēīī¯īīīī īĸīīĨīī§ī ī ī¸īī īīī¯īīĄīī īīīīĒīīĄīīī īī ī˛īĨīīīī īīīĄīīīī¨ ī īŧīīĒī¨ī īīīĄīīīī īīīŦī¤īī īīīīĻī īī īŋīĨī īĨī˛īĩī īīīĻī īī īī īīī¤īīī īšīĄīīĒī īīī¤īī¨ī īī˛īīģīŠī¤īī īīīīģī¸ī¤ī īīī¤īžī¤īī īīīī īīīīīĨīī¨ī īī˛īŖīžīĨī īīīīīĨīī īŋīĨ ī īēīŽīī īŋīĨī īēīīĄīīīī īīŠīīīŖī¤īī īīīŦī¤īī īšīĩīĄīī īī īīĒīžīĄīīī¤īī ī´īīĄīī¨ī ī ī¸īīīī ī ī¸īŖī¸ī¤ī īīĒīīĄīīīī īīīžīīī¤īī īīīŦī¤īī īīĩīīĄīī īī ī ī īīīģīī¸īĄīī īŽīīīĄīīīī īēīīĄīīīī īīŠīīīŖī¤īī īīīŦī¤īī īīŖī ī īīŖīīĄīī īĒīĨī īīŖīīīĄīīīīī īīī§īī˛ī¤īī īī īīĒīīī¤īīĨī īī¤ī¨īžī¤ī īīžīīī¤īī īžīīŠī¤īīī īīī¯īīīī īīģīĻīĻī īžīĸī īīĄīīĨī īī īīĒīīī¤īīĨī īīīī¯īĄīī īīĻīīŖī¨ī ī īīĄīīĨī īī īīĒīīī¤īīĨī īąī¯īĄīī ī īīŖīīīī īžīīī īŋīĒīžī¤īī īīīĄī īžīģīī īīīīŖīžī¤īī īŋīĨī īšīŖī īēīī¯īīīīī īĸīīīīīī¨ī īīĄīīĨī īēī īī ī īĄīī īŠīīī ī īīīī īĸīīīĻī ī¨īĢī īŽīīĄīīĨī īēī īī ī īĄīī īŠīīī ī īī īĸīīīĻī ī¨īĢīī īīŖīīĄīī¤ī īīīī¯īžīī¤īī īĸīīīīī¤īī ī˛īĨīīī īļīī īžīīī īžīģīī¨
ī īīĄīīĄīīžīīī īīĒīīģīī īīīīī ī¤ī īžīŖīīīī īēī¨īĢīī¤īī īīīīī¨ īīŠīīīŖī¤īī īīīŦī¤īī īĒīīī īī īžīīīī˛ī¤īīī īīīĨīīīī¤ī ī īīīĄīīīīģīīī īĒīžīĨī¨ī īīĄīīĄīīžīīī īīĒīīģīī īīīīī īĸīīīīī īąīīīī ī īžīĨī īīīīīŖīžī¤īī īī¤īīĸ ī īīīīīī¤īī īŊīīīīīī īŊīžīī īžīī¯īĒī īēī¨īĢīī¤īī īīīīī¨ī īŋīĨī īīžīīŖīīīī ī ī˛ī¸īī īīīīīī īī īī īīĒīīīĩīīīī ī ī˛īĄīīĄīīžīīīī īŋīĨī īīīī īīŠīīīŖī¤īī īīīŦī¤īī īīīąīīĄīīī īĢīīŖīĸī īī īīīĄīīĄīīžīī¤īī īīīžī˛ī¤īī īąīīŠīĄīī ī ī īŽīīīīīī īīīĄīīī ī ī¸ī ī īīīīīī īīīĄīī¯īīĄīīī īēīīī īīīīīī¤īī īŋīĨī īīīīīīĄīīīŖī īīīī īīī§ī īīī ī īīīīī īī īīīīĄīīīī¨ ī īīīŦī¤īī īŋīĨī īīīīģīŖī īīīąīīĄīīī īēī¨īĢīī¤īī īīīīī¨ī īŊīīīīīī īžīī¯īī īīīĨīī¸īŠīĨī īŋīĨī īīī¤ī īī īī¤ī īīģī īŽī´īīĄīī¤īī īīīī īī īīĄīīĄīīžīīīī īĸīīīīĄīīīŽī¤ī īīī¨īī¯īīĨī īīīŠīĄīīīīī īīīŠīīī¨ī īīŠīīīŖī¤ī ī īīīīīīĒī ī ī īīī ī īĨīī ī īīīŠīīīī īīīī īīīīī¸ī¤ī īēī¨īĢīī¤īī īīīīī¨ī īīīī īąīī ī īīī īīīīī¨ī ī īīīĄīīĸīīžīīī īī īīīīīī īīīīīī īīīīīī¨ī īīĨīīī˛ī¤īī īī¸īīīīī īēīŽīī ī˛īīīīī ī˛īī īī¨īīŠīī¸ī¤ ī īŽīīŠīīīŖī¤īī īīīŦī¤īī īąīŠīĄīīī īīĨīīĻīžīĨī īĒīĄīīī¤ī īīĄīīīī ī īīīīīīīī¨ī īīīīīīī¤īī īīĄīīŖī īĒīĨī īŗīīĄīīžīī¤īī¨ī īī¨īīŠīī¸ī¤ī ī īŠīĄīīĒī īīīīīī īīīī īī īī īīīīĄīīīī¨ īŽīīĄīīĨī īī īīĄīīĄīīžīģī¸ī¤ī īī¤īīŠīĄī¨ī īīī˛īī˛īī īīĨīīĻīžīĨī īŗīī˛īīī¤ī īīīĨīīĩīī
ī īīĄīīĨī īīīīĄīīĨī īīīģīī īī īŋīĨī īĨīĩīĩ īīī¤ī¨īĢīī īīīīĸīī¯īīīī īīīŖīŦīĨ ī īĨīĩīĩ ī īīī ī ī īŋī ī īēī¨īĢīī¤ī ī īīīīī¤ ī īīīī¯īžīī¤ī ī īĸīīīīī¤ī ī ī īīīĄī ī īĻīī§ ī ī°īĄīīŖ ī īąīąī´ī īīī¤īīī īīžīĒīžī¤ī¨ī īīī¤ī¨īĢīī īīīīĸīī¯īīīī īīīŖīŦīĨī īīĄīīĨī īīīīĄīīĨī īīīģīī ī ī īŋīĨ ī ī¸ī´ī¨ ī īīī ī īīīīĸīī¯īī ī īąī°ī¨ ī īīīģīžīī¨ ī īīī ī īīīĸīī¯īī ī ī˛ī° ī īīīžīĨ ī īīĒīīīĄī ī īīīĸīī¯īī ī īĨīīĄīīžī¤īī īī īī¸īĨīīŠī¤īī īīīīžīīīīī īīīŖīīĄīī¤īī īīžīī īīīī¨ī īīīĄīīĄīīīŖīīī īīīģīžīī¤ī īīīĸīī¯īī īīŖīīĄīī īˇīˇī īī¸īīĒī īīĄīīī īī¨īĢīī¤ī ī ī´ī¨īŗī īī¸īīĒī īīī¯īīĩīīīī¨ī īīĒīī¤īī īŋīĨī īīīĄīīīī īīīīīīīīī īīī ī ī īīīīĄīī īžīŖīīī¨ ī īēīŽīī īī¨ī īšīīĨīīī ī°ī¤īī ī īļīˇī°ī īīĨīīī¤īī īīīīĻī īīī ī¤īĄīīīīĨī īī¸īīĒī¨ī īšīīĨīīī īīīīīī¸īĨ ī īŽīīī¯īīĩīīīī¨ī īīĒīī¤īī īŋīĨī īšīīĨīīī īīīī¸īĨī ī˛ī°ī°ī īīĄīīĄīī īī īīĄīīīīī īīīīī īŊīīŠī¤ī ī īīīŦī¤īī¨ī īīĒīī¤īī īŋīĨī īīĄīīĨī īīīīĻī ī ī īī¸īī īīĻīī ī īīī¯īīĄīī īīīīĒīīĄīīī īī īīĄīī¨īīī¨ ī īīĄīīīīī īīīīī īŊīīŠī¤īī īēīŽīī īīĄīīĩīĨī īŋīī īīīī¸īĨī ī¸īąīī˛ī īīīīīīīī¤īī¨ī īīī¯īīĩīīīī¨ ī īąīĩī īŧīĄīīī īīžīĒīžīī īīžīĒīīīĨī īīīī īīīīī īŊīīŠī¤īī īīĒīīīĻī īšīīĸī īŧīīīĄīī īīĻīī īī īī īīąīĄīīĨ īŽīīīĸīīĄīī¤īī¨ī īīīīīŦī¤īī īīīīīĄīī¤īī¨ī īīģīīīīī īīīī¤īīī īīžīĒīžīī īī˛īŖīžīĨ
ī īīĄīīĨī īīĒīīīī ī īĄī īīīĨī īēī¨īī ī īīŖīĸī īŋīĨī īēīīĄīīīī īīŠīīīŖī¤īī īīīŦī¤īī īīīąīīĄīīī ī īīĒīīŖīĸī īī īīĒīīĄīīĨī īīŖīīĄīī īĸīīīĄīīīī ī ī ī¸īī īīī¨īžī¤īī īīĒīīŖī˛ī¤īī īīģīĄīīīŠī¤īīī ī˛īĒīīŖīĸī¨ī ī˛īĒīīĄīīĨī īŋīĒīīģīīīĄīīĨī īīīīģīī ī˛īī ī´īī¯īī īīī ī ī īīĒīīĄīīīī ī´īīĄīī¤īī īī īīī¸īī īžīĒīīīīīī ī ī¸īŖī¤īī īīīŖīŦīī¨ī īīĄīīī īīŠīīīŖī¤īī īīīŦī¤īī īīīąīīĄīīī īīŖīīĄīī īīĨīīĸī ī ī īīīīī īī¨ī īēīīĄīīīī īīīŦī¤īī īŋīĒīīīī¨ī īēīīī˛īīĄīīī īīģīīīī īīžīī¨ī īīĨīīĸī īī¨ī ī˛ī°īąīŗī īŊīīŠī¤īī ī°īĄīīīžīĨī īēīī¸īī īŽīīĄīīĨī īī īī˛īĒīīĄīīī¨ī īīąīīŦī ī īīĄīīĄīīīīĨī īĒīĨī īī¨īīŠīī¤īī īī§īīĄīīī˛īī īŧīīĒī īīīĸīī¯īīī īĒīīĸīīī īŋīī īīĒīīĄīīīī īīŠī¸ī˛ī¤īī īīŖīīĄīī īīžī¸īīīī¨ ī īīīĄīīĻī ī ī īĸīīīŦī ī īīŖīīĄī ī īĸīīīĄīīīīī¤ ī ī˛īĒīīŖī˛ī¤ī ī īŋīĒīīģīīīĄīīī ī īŋīĨ ī īīīīģīī¨ ī īīĒīīŖī˛ī¤ī ī īīĄīī¯īĻī īīīīŖ ī īīī¤īīī īīīīīī īī¨ī īēīīĄīīīī īīŠīīīŖī¤īī īīīŦī¤īī īŋīĒīīīī¨ī īēīīī˛īīĄīīī īīĄīīĨī īī īīģīīīī īīžīī¨ī īˇīŽīīĨīī¨ ī īīīīīžīĨī ī ī īąīĄīīī īąīžīīī īī˛īĒīīĄīīī¨ī īīīŦī¸ī¤ī īīīĨīī˛ī¤īī īīĩīīĄīī¤īī īēīŽīī īŋīĨī īī¸ī˛īĻī¨ī ī¨FSRUīŠī īīĒīīīŦī¤ī īŽīī¸īīīī ī´īīĄīī¤īīī īīĸīīŖī¤īī īīĩī¸īīīĄīīĨī īī¯īīīŖī¨ī īīīīŖī īī īī īīŠīīīŖī¤īī īīīŦī¤ī ī īļī¸īīī īīīī ī ī¸īī īīžīĒīžīīī īīŖīīĄīī¤īī īŧīīĄīīīī īŋīĨī īĨīĩīąī īīīŖī˛ī¤īī ī īĻīīīī īļī¸īī§ī īīīī īīī˛īīī īŋīĨī¨ ī īī¯ī¸īĩīī¤īī īīīīĒīžī˛īī ī¨īīī īĢī¨īīĄīīģī¸ī¤ī ī¤īŖīīīī īĒīĸīīīī īŋīī īžīŠīī īŋī¸īŠīĒī īī¨ī īīī˛īīīīī īīĄīīīī īīŠī¸ī˛ī¤īī īīŖīīĄī ī īīī¤īīĸī īīīŦī¤īī īīīąīīĄīīī īĢīīŖīĸī īī ī˛ī¸īĨīīī īŋīĩī¤ī īĢīīĄīžīīī īīŖīīĄīī¤īī īēīīģīĄīīīīī ī¨īīī īīī īīĄīīīīī īīĒīīīģīīīĄīīī īŽīīīīī¨īžī¤īī īīīīīī¸īĨī īī īī īīīīī īī īīīī¨īīĄīīīī īīī§ī īī ī ī īīīąīīĄīīī īĸīīīīīīī īīĨīīĻīžīĨī īīīī īī īī īīīĄīīīī ī´īīĄīī¤īī īī īīīīīĄīīĻī īīžīĒīžīīī īīŖīīĄīī¤īī īĸīīīīī¨ īŽ"īĸīīīīĒī ī"ī īīīŠīīīŖī¤īī īīīīīŦī¸ī¤ī īīĄīīīī˛ī¤īī īīĒīīĄīīīī īīŖīīĄīī¤īī īīĢ īīīīīĨī īīīžīī īīžī¸īīīī īīī¤īī īīīŦī¤ī Petroleum Today
- November 2012
4
īīīīĄīī īšī īēīŽīī īĨīˇīīĩī´ī īīīžīī īīŠīīīŖī¤īī īīīŦī¤īī īŋīĨī īīĄīīĨī īīīīīīĄīī īĢīī¯īīī
ī īīĒīīīĄīīīĸīī ī īīīī ī īĄī īīīī īī ī īīī ī īĄī īī īĻ ī īī ī īī īĄī īī¨īīī¨ ī ī ī¸īīī ī īˇīŽīīīĄīīī ī īīīī ī īĒī ī īīŖīīģī¸ī¤ ī īīīīīģīīīīī¨ ī ī˛ī´ī īī¸īīī¤ī īĨīąīīĩī īīīīĄīīĻī īīī īīī¤ī¨īĢīī¤īī īīīīīžīīī īŋīĨ ī īŠīģīīīĄīī īī īī īīĒīīžīĒī īŋīĨī īīĢī¯ī¤īī īī īīīžīīīī īļī°īļī¨ī īī¯ī¤īī ī īīĢī¯ī¤ī ī īēīŽī ī ī ī īīžī ī ī˛ī´īĩī¨ ī īī ī ī¯ī ī¤īī ī ī˛ī´ ī īšīīī˛īĨ ī ī˛ī°īąī˛ īŽī˛ī°īąīąī īŋīĨī īīīīīžīī
ī īīīĄīīĻī īīŠī¯īīīī īīģīŖī ī˛ī°īąīąī īŋīĨī īī¨īīīī īīīĄīīīī īīŠīĄīīī¤īī īēīŽī ī īēīŽīī īļī¸īīīĄīīīī īīŠīīīŖī¤īī īīīŦī¤īī īŋīĨī īīīīīīĩī¤īī īˇīŽīīīĄīī ī īĨīĩīšīīŗ ī īšīīĄīīī¤ ī īĨīąīī˛ ī īīīžī ī īŊīīŠī¤ī ī īŋīĨ ī īīĢī¯ī¤ī ī īļī¸ī īŽīīĄīīīīī īŊīīŠī¤īī īŋīĨī īīīīīī īīĢī¯ī¤īī īēīŽīī īĨīĩī¸īīąī īšīīī˛īĨ ī īīī¤ī¨īĢīī¤ī ī īīīīīžīīī¨ ī īŊīī ī īī ī īī ī īĒīī ī ī¤ī ī īĢīīŖīĸ ī ī ī ī īĄī¨ ī īīĒīīĄīīīī īīīīīīĄīī¤īī īīģīīĸī īĒīīīīī īī ī ī īīīĄīīžī¤īī īīīīĄīīī ī īīĢī¯ī¤ī ī īēīŽī ī īīī¤ī¨īĢīī¤ī ī īīīīīžīīī¨ ī īŊīīī ī īīĒīī¤ī ī īŋīĨ ī īĨīąī´īī˛ī īīŦī¸īī īīīĄīīžīī ī˛īīĄīīīīī īŠīģīīīĄīī īī ī ī īīĒīīžīĒī īŋīĨ ī īīī¨ī ī ī°ī ī ī¤īī ī īąīšīļī¨ ī ī˛īĒīŽīĨ ī ī´ ī īīīĻ ī īī ī ī īīīīģīīĸ ī īšīĄīīī¤ ī īīīĄīīīī īīŠīĄīīī¤īī īēīŽīī īīī¨īī īī¯ī¤īīī īļī¸īˇī¨ī ī˛īĒīŽīĨī ī´ī īšīīī˛īĨ īŽīīĄīīīīī īŊīīŠī¤īī īŋīĨī īī¨īīī ī īŊīīīī īī ī īĒīī ī ī¤īī īīī ī īī īĻī ī ī īĢīī ī ī¯ī īīīī īī ī ī īīīī ī īĄī īīī ī īī ī īģī īŖ ī ī īīīĄīīīī īīŠīĄīīī¤īī īēīŽīī īĨīąīīŗī īīīĄīīžīī īīīīīīīī¤īī¨ī īīī¯īīĩīīīī¨ ī īīžīī ī´īĩīŗī¨ī īī¯ī¤īīī ī˛īļī īīīĻī īšīīĄīīī¤ī īīīīīī īŊīīŠī¤īī īŋīĨī īī¨īīī ī īŽīīĻīīī˛īīī īīĢīĄī īēīŽīī īŋīī īąī˛īąī¨ī īī¯ī¤īīī ī˛īļī īšīīī˛īĨ
ī īĒīīīī¤īī īīīī˛ī¤īī īīīīīī īŧīīī¨ī īīīĨīī¸īŠīĨī īīŖīīĨī ī°īĄīīŖ ī īīīŦī¤īī īŋīĨī īīĄīīĨī īīīīīīĄīī īĢīī¯īīīī īŋīī īīīīīī ī ī¤īī īĸīī¸īī ī īŋīĨ ī īī¨īīī ī īīīĄīīī ī īīŠīĄīīī¤ī ī īēīŽī ī īīīī˛īīĄīīĨī¨ ī īīŠīīīŖī¤ī ī īī ī ī īīīīģīīĸī īšīĄīīī¤ī īĨīˇīīĩī´ī īīīīĄīīĻī īīī īīīī ī īīī īŊīīŠī¤ī ī īīīī¸īĨ ī īŗīąīšī¨ ī īīīī¸īĨ ī īšīīī˛īĨ ī īīī¨ī ī īīīī¸īĨ ī ī´īąī¸ī¨ ī īīīī¸īĨ ī īĒī¯īīĢī¤ī ī˛ī°īąīąī īŊīī ī ī ī īŋī ī īĨ ī īī ī īī īīīī īīĢī ī ī¯ī ī¤īī īēīŽī ī ī ī īīī¨ī īŽīīī¨īī īīīī¸īĨī īšīšī īīīžī˛ī ī īīĒīīīĄīīīĸīī ī īīīīĄīīīīī ī īīīĄīīĻ ī ī ī īīŖīīī ī īīĄīī¨īīī¨ ī ī īēīŽī ī īīŠīīīŖī¤ī ī īīīŦī¤ī ī īīīīĻī ī ī īēīžīŠīĨ ī īīī ī īīīīīģīīīīī¨ ī īī¯īī¯īī īīīĄīīžīī īīīī ī˛ī°īąī˛ī īŠīģīīīĄīī īī īī īīĒīīžīĒī īŋīĨī īīĢī¯ī¤ī ī īŗī´ī īšīīī˛īĨī īīžīī ī´īšīˇī¨ī īī¯ī¤īīī īŗī´ī īī īī īšīĄīīī¤ī īĨī°īī°īĩī īīŦī¸ī īŽīīĻīīī˛īīī īīĢīĄī īēīŽīī īīžīī ī´ī¸īąī¨ī īī¯ī¤īī ī īīīŦī¤īī īŋīĨī ī ī¸īīīī īˇīŽīīīĄīīīī īīī ī īīīĄīīžī¤īī īīīīīīī¨ ī īĨīˇīīˇī´ ī īīīĄīīžī ī īīīīŖīīī ī īīĢī¯ī¤ī ī īēīŽī ī īīī ī īīŠīīīŖī¤ī ī īīžīī īĩīĩī¸ī¨ī īī¯ī¤īī ī ī˛īˇī īšīīī˛īĨī īīžīī īļīšīąī¨ī īī¯ī¤īī ī ī˛īšī īŽīīĄīīĨ
īīīī īžīĄīī īąī°ī īīī īĄīīī ī ī īĄī ī¤ī¯īžī¸ī¤ī īī īīžīĨī īī īīŖīīī ī īīĩīĒīīĨīī ī īī īī¤ī īīīžīĨī īŠīŖīī ī īīīĄīīī¨ī īšīī ī¤ī¯īžī¤īī īŋīĨī īīīīī¤īī īīī¯īīŖīīī īŗī˛īī īīīī īīžīīīīī īīīĒīīī¤īī īīī ī īīžīĒīžīī īīīīĒīžī˛īī īī¯īĄīīŖ ī īŽī˛īĄīī¤īī īī īī ī ī§īīīĄīī ī¤īĄīī¨īīīī ī´īīĄīī¤īī ī¤ī¯īĻī īŋīĨī īīīĒīī˛īī īĨīšī°ī īīīī ī˛īī īī īīīīžīĄīī īąī°ī īēīŽī ī īīĩī¸īģīīī ī ī¸īī īšīĒīīī īžīĨīī ī īīžīĨī īī§īīīģīīīī ī īīžīī īīīī īīžīīīīī īīīĒīīī¤īī īī ī ī īīī¤ī¨īžī¤īī īīĸīīŖī¤īī īī¤īīŖī¨ī īīīīžīĄīīī ī īīīĒīī˛īī īēīīĸī¨ ī īĢīī¯īīīī īī īĢīīīĄīīī īī īī īŠīīīīĒī īīīī¨ī īīīŠī¤īī īī īīīĄīīīīĄīī¤īī īŧīĻīžī¤īī īīīīīĄīī īžīīŠīĒī īīī īīīĨīī¤īī īŋīĨī īžī˛īī īēīŽīī ī¤ī¯īžī¤īī īī īīĒīīīŠīĄīī¤ī īŽīīīīīī īīīīīīī īīīīī ī īīīīĄīī¤īī īīīŦī¤īī īšīģīĄīīī īīī¤īī¨ī īīīŦī¤īī¨ī ī¤ī¯īžī¸ī¤ī īīĒīžīī¸ī˛īī īąīī īīīīĄīīĨī ī īģīĄīīĒī īī ī īžīī¯īīĄīīī īīīī īīžīīīīī īīīĒīīī¤īī īīīī īīĒīī˛īī¤īī īīĄīī¨īīī¨ īŽīīī¸īīīī īīĄīīīīīī īīī¯īīī īīīĸīī¤īī īīīīī īī īī īŠīīīīĒī īīīīĄīī¸ī¤ī ī°īīīŖī īąīī¯īī īąīĄīīĩīī¤īī īŋīĨī īžīģīīĄīīīī¨ī īīīīĄīī¤īī ī¤ī¯īžī¤īī¨ ī īī ī¤ī¯īžī¸ī¤ī īīīžīĨī īŠīŖīīī īīī¸īŠīī¨ī īīžīīīīī īīīĒīīī¤īī īī īīĸīīŖī¤īī īēīŽī˛īīĄīīī īžīĒīīī īīīī īīīīĄīīīī īīīī¤ī īŋīĩī§ī īīĻīī īīĒīī˛īī¤īī īīīĄīīīī¨ ī īīīīīī īīīīīŠīīĻīī īī īīĄīīĒīīī īīąīīŖī īīīīĒīī īī īī īŠīīīīĒī īīīī īŋīĩī§ī īīĻī īīĄī īīī˛īī īīīĄīīīī īīī§ī īĢīīīī īī īī īī¤ī īŋīĩī¤ī ī˛ī°īąīˇī īŊīīī īēīī¸īīī īīīŠī¤ī ī īŽīēīīžīīī īīžīīŠīī īąīŖīīī īīīīžīīī īąīīŦīī¤īī īŋīĨī īžīīī ī ī¸īī īī˛ī¸īŠīīī īēīīĨīīīī īšīŠīī īīīī īīīĻīīīĄīī īŋīĨī īīī¤īī¨ī īīīīīīī īĸīīīīīīī ī ī ī§īīĒī īžīĸī ī¤īĄīī¨īīīī ī´īīĄīī¤īī īīīī¨ī ī¤ī¯īĻī īŋīĨī īĨīšī°ī īŋīĨī īīŖīīī īī īīĄī īīī§ī īī¨īžīī īēīīī īī īīĻīīī īīī¤ī¨īžī¤īī īīĸīīŖī¤īī īī¤īīŖī¨ī īīŠīĸīīī¨ ī īŽīīžīĨīī¤īī īīīī īīī īĸīī¯īĻī īēīŽīī īļī¤īī¨ī ī˛īĄīī¤īī īšīīĨī īĒīĒīīĄīī īšīĩīĄīīī īīģīžīī īīī¤īī īēī¨īžī¤īī īī īī īīĄīīīĄīīīī īšīĩīĄīīī¨ī īīīĄīīīī īī ī ī īīīīĸī īīīīžīīī īąīīŦīī¤īī īŋīĨī īžīī¸ī¤ī īšīģīŠī¤īī ī´īīĄīīī īī īī īīī¤ī¨īžī¤īī īīĸīīŖī¤īī īī¤īīŖīīī īīĄīīīīī¤īī īīīīĄīīīĸīīī īąīīīī īēī¨īąīī īīīĄī ī īēīīĸī¨ ī īąīīŖī īąīīīīī īīīī¤ī īĸīīī¤ī¨ī īīžīžīīīīī īšī¯īĄīīīī īī īī īŗī¤īīžīĒī īžīĸī īīīžīīī īąīīŦīī īīīī īī īī īīąīĄīīĨī īīī§īīīī īŋīĨī īīžīīīīī īīīĒīīī¤īī īąīŦīī īī īīĨ īŽīīĸīīŖī¤īī īīīģīīīĄīīĨī ī ī¸ī ī īī īĒīĄīīī¨ī īīĒīīŖīī¤ī īĒīĄīīī īīī¤īī¨ī īīīīĄīī¤īī īīīŦī¤īī īīīīĻī īī īēīīģīīīī īīĄīīģīī īžīĸī īīīŖīīĄīī¤īī īŋīĨī īžīĒīžīŠī¤īī īīīŖīīĄīī¤īī īīīī īīŖīīĒī ī īī˛īĄī¨ī īī§īīīī¤ī īąīīĩī¤īī īīĨīīĨīīī īŋīĩī¤ī īīžīīīī īīīīī¤īīžīĩīī ī ī¸īī īžīģīīŠīĒī īīī¤īī īīīīĄīī¤īī ī¤ī¯īžī¤īī¨ī īīĄīīīīī īžī˛īŠī¤īī īī īīžīīīīī īīīĒīīī¤ī īŽīīī¤ī¨īžī¤īī īīĸīīŖī¤īī īī¤īīŖī¨ī īšīī¸īīī¤
īīīī¸īĨī ī˛īī¸ī īīžīīĒī īīīĄīīī¨ī īīīī¤īīī īī¨īī īīīīīīīī¤īī ī īīīīĻīīī īĒīĒīīīī īŊīīĻīĻī īŗīīīŖīī īīīī īžīŖīīīī īīī¤ī¨īĢīī¤īī īīīīīī īīīŠīĄī ī īīīžīī¤ī ī ī°ī ī īĸī¨ ī īēīī ī ī ī īīīīīī ī ī¤ī ī īĸīī¸ī ī īĸīīīī ī īšīĒīžīžīĸ ī īīīžīīīĄīīī īī¨īī īīīīĄīī īļī īīžīī īīīīīīī¤īī īīĄīīīīīīī ī ī¸ī ī īīīīīīīĄīīīī īīīī īī īī īīąīĄīīĨī īīīī˛ī¤īī īŋīĨī īīīīīīīĄīīī ī īīīīīīī¤ī ī īī ī īĄī īīīīīī ī ī ī¸ī ī īīīžīī¸ī¤ ī īīīīĄīīĨ ī īīī¤ ī īīīŖ ī īļī¤īī¨ ī īīŠīīīĨ ī īīĢī ī īĨ ī ī˛ī´īĩ ī īīīīĄīīĨ ī ī ī¸ī ī īīīžīīīĄīīīŖ ī īī¸īīĩī¤īī īīīī ī ī ī īī ī īī īī¨īī ī īī¨ī īīī ī īī īīī īīī ī īĨīīīī īīī ī īŠī īīī īŽīīīžīĩīĄīī¤ī 3
Petroleum Today
ī īīžī˛īīĻīī īīī¤īī īīīŠīĄīī¸ī¤ī īžī˛īī īĢīīģīīīī īļī¤īī īīīī ī īīīĻīĄīīīīī īī īīīīīīīī¤īī īĒīĒīīīī īīīĻīīīīŖī īīīīĸī īīī¯īžī ī īīīī¨ī īī¨īī īīīī īīīīīī¤īī īŗīīīŖīī īīĨīīĩīīī īīžī¸īīīī īīī¤ī ī īīŠīĄīī īī¨īī¯īī īšīī īī īīĄīīīī īīī¯īžīī¸ī¤ī īīīĄīīī¨ī īīīī¤īī ī īīīŠīĄīīīīī īī¨īīĢīī¤ī īīŖīīĨī īī ī ī īīŖīīĨī īŋīĨī īīĻīīīŖīĄīīī īŽīĢīīīīĄīīīī īŧīī¸īĄīīī īīīīīžīī īąī°ī¨ī īĩī ī˛ī ī īŊīīĄīī§ ī īīī ī īī īŖīžī ī ī¤ī ī īīīīĒīīĄīī ī īīī ī īĄīī ī ī ī īžī˛īīĻīī¨
- November 2012
ī īīīīģī¸ī¤ī īīĨīīŠī¤īī īīīŠīĄīī¤īī īĸīīīīī īīīĄīīī īŊīīĄīīī īēīīĸī¨ ī īžīŠīĒī īīīīī īŊīīĻīžī¤īīī īĒīĒīīīī¤īī īŗīīīŖīī īī ī ī īīī¤ī¨īĢīī¤ī ī īīĨīīĩīī ī īī¤īŽī ī īŋīĨ ī īąīžīīī¨ ī īŊīīŠī¤ī ī īēīīģī¸ī¤ ī īīīīžī ī ī§ī ī ī īīīĻīīīŠī¤īī īīīīīīīĻīŽī¤ī īīžīīīī īīĸīīīĨī īīīī˛īīĄīīī īŗī¸ī ī īžīīĩīīĄī ī īšīĩīĄīī¤ī ī īīī ī īī ī ī īŗīīīŖīī¤ī ī īīī ī īī ī ī ī īīąī ī īĄī īī īĨ ī īīīžī ī īīīī¸īĨ ī ī˛īī¸ ī īīīīī ī īīžī˛ī ī īīīīĄīī ī īīĨīīĩīī īŽīīīīī īŊīīĻīžī¤īī īŋīī īžīĒīžīīī īŊīīĻīžī¤īīī īŧīīžī¤īī ī´īīĄ
ī īēī¨īĢīī¤īī īīīī¨īīĄīīĨī ī īĄī īī¨īīŠīī¸ī¤ī īīīīĸīī¯īīī īĸīīģīī īīīŠīĸīīī īīīīīīī¨ī īīĄīīĨ ī īšīĩīī§ī¨ ī īīģīīĻīžīī¤ī ī īšīĩīīī¤īī¨ ī īīŖīīĄīī¤ī ī īēīīĨ ī īĸī ī īīīī ī īĒīĄīīī¤ ī īīīĩī ī īīī ī ī ī¸ī ī ī´īī¯īīī ī ī ī īīĻīī ī īī ī ī īīąīĄīīĨīŽīŽī˛īģī§īīĄīīī ī īīīĄīīīī ī īĻīīī¸ī¤ī īīīīīī īī ī¯īĩī°ī¯ī ī ī§ī īīŖīīīĄīīīī īīīĄīīĻ īŽīīīīīīīī¨ ī īŠīīīī ī īīŖīīĄī ī īīīĄīīĻī ī ī ī ī¸ī ī īĸīīžī ī īīī¤īīī¤ī ī īīīĸīī¯īīī ī īŠī¨īžīī ī īīī ī īĄī īīīīī¨ ī īīīĄīīžīžīī¤ī ī īīīĄīīīīžī¤ī ī īēīī ī ī ī ī īĄ ī īēīīī īī īīīī ī īĄī ī ī īīī ī īī¨īī ī īĄī īī īīī īīī ī īĄī īī īĻī īī¨ī īī ī īĒīīī ī īĄī īī īī īĸīī ī īŊīīīĸ ī īī ī ī īīĄīīĄīī ī ī īīīĒī¨īīģīīŖī¨īĢīī¤ī ī ī¨īī ī īīīŦī¤ī ī ī¨īī ī ī¤ī¯īžī¤ī ī īīīīīžīĄīī¤īī īīīīĄīīžīīī īšīīŦīĄīīī¨ī īīĻīīīĄīī¤īī īēīīģīīīīī īīŖīīĄīī¤ī īŽīīī¤ī¨īĢīī¤īī¨ ī īīĒīīĄīīīī ī´īīĄīī¤īī īžīĒī¨īīī ī ī¸īī īĸīīžīī īīŠīīīī¤īī īīīĸīī¯īīī ī īīīīīīīī ī īĻīīīī īīīŖīī īī īī¨ī īēīīĄīīīī īīīŦī¤īī īŋīĨī īīīīģīĩī ī īŠīīĄīīī ī ī´īīĄīī¤ī ī īīīīīīīĒ ī ī īī¤ī ī īīīĻīīīī¤īī¨ ī īīī¯īĄīīīīī ī īēīīĄīīīī īīīŦī¤īī īŋīĨ ī īīīžīīī īžīĒīīīī ī ī¸īī ī´īī¯īīīī ī ī¸īī īīĄīīĨīīīī īīīĸīī¯īīī ī īīĒīīĄīīī ī īšīĨīīŠīī ī īī ī ī īīī ī īīīī ī īī ī īŊīī ī īī ī ī¤ī¯īžī¤ī ī īŋī ī īĨ ī īīīžīīŠī¤īī īīī§ī īīĻīīŖī īīīīĄīī īī§īīĒīīĩīī ī ī¸īī īīīīī īīīīī ī ī ī īīī īīīĄīīīī īŊīīīī ī¤ī¯īžī¤īī īŋīĨī īĢīīžīī ī¤ī¸īīī ī¨īīī īīīī¯īžīĨ ī īīīĄīī īī¨ī īīĒīīĄīīīī īīĒīīĩīī¤īī īšīĨīīŠīĨī īīīŠīīīī īĒīĨī ī īĄīīīžīī ī īĒīīŖīīĄīīī īīī¤īī īīīīģīĩī¤īī ī ī¸īī ī´īī¯īīīī īŧīīīĄīī īīīīīžī¤īī īīī§ īŽīīīīīī¸ī¤ī īī§īīĒīīĩīī īīĒīīĄīīīī īšīĨīīŠīī
ī īīīŦī¸ī¤ī ī°īĄīīŖī īŋīī īŋī¸īŠīī īīīī īīĻīī ī īīīī¸īĨī īļī ī īī īīģīīī īīžī˛īĒī īīī¤īžī¤īī ī īĄ ī īŠīĩīĨī īŊīžīĸ ī īīīŦī¤ī ī īī¯īĄīīīŖī ī īīīĻī ī ī īī ī īī īīīīī ī īĨī īī ī īīī ī ī ī īī ī īĻīī ī īī¤īīĸ ī īŋīģīĩīīī īŧīīī īīīžī ī īĸī¨ī īīĄīīī īšīīžī¤īī īīī¤īī īī īīŠīīīŖī¤ī ī īŊīžīĸī īīīīī ī īī ī¸ī īĨ ī īīīĄīī īī ī ī īī ī īŠī īīīī ī īī¨īžī ī ī ī īī īžī ī īĒīžī ī īī ī īŽīīīŠīĩīĨ ī ī°īĄīīĩī¤ī ī īīĒīīŖīī¤ ī īīŖī ī īžīŠī ī īīīĻī ī ī īīŖīīĄīī¤ī ī īī¤īīĸī¨ ī īīŖīīī īīŖīīĢīĄīī¨ī īąī īīģīĄīī īīīī īĒīĸīīīī īī īīī˛ī˛īī īīī¤ī ī īŽīīīŦī¤īī īīīīŠīī īīīĒīīĸ ī īī īīī¤ī īĻīīī¤īī īī§ī īąīīĄīīīŖīīī īī ī ī īīīī īīĻīīī īī¤īīĸī¨ ī īēīīģīīī ī īžīŠīī īŊīīŠī¤īī īīī§ī īīĄīīĨī īī īīŠīīīŖī¤īī īīīŦī¤īī īēīī ī īĻīīī¤īī īĒīīī¤īī īī īīīĨīīī īŊīīŖī īīīīīĨīī īī īīīīīžī¤īī ī īī˛īžīī¤ī īŽīŊīīŠī¤īī īŋīĨ ī īī¤īīĸī¨ī īīĄīīĨī īī īīąīīŖī īīŖīĄīīĻīī ī īīŖīīĄīī¸ī¤ī īīī ī īīŖīīĒ ī īīīīīī¤īī īīīīĻī īīī īīīīžīī īīī¤ī īīĒīīĄīīĨī īīžīī¨ī īī ī ī ī īīīīīīĨ īŽīˇīīžī§ī īīŠīīīŖī¤īī īīīŦī¤īī īšīīīīĄīī¤ī īĒīžīĄīī
ī īīīīŖīīī¨īīī¨ī īīīīĸīī¯īīī īĸīīģīī īīīīīīī¨ī īīĄīīĨī īīŠīĸī¨ ī īąīžīīī īīīŦī¤īī¨ī īīī¤ī¨īĢīī¤īī īīīī¨īīĄīīīī īēīīī īī īī¨īīŠīī¸ī¤ īŽīīĨīīī˛ī¤īī īīĢī¯ī¤īī īēīŽīī īīģīīžīīī īī¨īīŠīī¤īī īīĒīīŠīī īī ī ī īŋī ī īī ī īĒīī ī īīīī ī īī ī īīģīĄīīīŠī¤ī ī ī ī īīī ī īī īĸīī ī ī¯ī īīī ī īĒī ī īĸī¨ ī īīīīī¤īī īĸīīīīī īīīīĄīī īĻīī§ī īĸīīžīžīīīī īīīĄīīīī ī īĻīīī ī īīīīīīīī ī īĻīīīī īŋīī īīīŠīĸī¨ī īīģīīĄī īŽīŽī īēī¨īĢīī¸ī¤ī īīĨīīŠī¤ī "ī īˇīīīīīĻīīĄī "ī īīŖīīĄīī īŊīīī īīĒīžīĨī ī˛īĄīīī īžīīģīīī īžīī īŽīīĒīīīīīīī īīīĨīīĩīīī ī¤ī¯īžī¤īī īīīīžīĄīī ī´īŽīģī ī īŋīĨī īīīŦī¤īī īžīĒīīīī īīīīĒīī ī ī¸īī īĸīīžīī īī¨īīīī īīīĸīī¯īīī ī īēī¨īī ī īŋīĨī īīīīīīīī īīĢīĨī īŋīī īīīī¸īī īīĄīīĨī īī ī ī īīīīīī ī īēīŽīī īŋīī ī°ī¤īī ī ī¯ī¸ī°ī°ī¯ī īīĻīīŖī īīī ī īžīŠīī īšīī˛īīī īŠīģīĄīīĒī ī īīīīĄīī īīīĄīīīī¨ī īīĄīīīīī īšīĒīīīīī īī īīŠīīĸīīī īī īŠīī¤īī īžī˛īŠī¤ī ī īŧīīĒ ī īīī ī īī¸īĨīī ī īŋī ī īīīīŠīĨ ī īŽīŽ ī īīĄīīīī ī īīī¤īīĒ ī īŋīĨ ī īēīīŠī¯īī ī īīīīģīĩī¤īī īīīī ī īĒīī ī˛ī°īąī´ī ī¯ī ī˛ī°īąīŗī īžīĒīžīīī īžī˛īŠī¤īī īēīŽī īŽīīĢīĨī īŋīī ī°ī¤īīī ī¯īĩī°ī°ī¯ī¨ī īīīī¸īĨī īī īī īīīīīī ī īĸīīžīĒ ī īēīī ī īŖīī ī īī¨īī ī ī ī īĒīīĸīī ī īšīģīĄīī ī īīīĻīīī¤ī ī īīīĸīī¯īīī ī īīĨīīŠī¤īī īīīīī¤īī ī˛īī īīŖīĢīĄīīĨī īīŖīīĄīī īĸīīīĄīīīīī¨ī īīīĄīīĻī ī ī ī ī¸ī ī īīī¸īģīī īēīīī īīīĩīĒī īˇīīīīīĻīīĄīī īīŖīīĄīī¨ī īīĒīīĄīīīī īēī¨īĢīī¸ī¤ ī īī ī ī īīĄīīĄīī ī ī īŋīĒīžī¸īī¤īī īŽīŖī īī īīīīĻī īīī¨ī īīīĄīīĄīīĩīīĄīīīī ī īĄ ī īīī ī ī ī¸īī ī˛īī¤ī¨īžī¤īī īī¨īžī ī ī ī īīīī ī ī ī īīŖīīĄīī¤īī īšīģīī īīīĻīīĩīĨī ī ī īšīģī ī īŗīĒīīĄ ī īšīīĩīĄīī ī īīĨīīī˛ī¤ī ī īī¸īī¸ī˛ī¤ī ī īīĢī¯ī¤ī ī īēīŽī ī īŧīīĒ
ī īīŖīīĄīī īīŽīĩīĄīīĨī īšīī īĸīīīžīī īīĨīīĩīī ī īīīĄīīīī ī´īīĄīī¤īī īī īšīīīīĨī īīīĄīīŖīī "īšīīīīĨī īīīĄīīŖīī"ī īīŖīīĄīī īīīīī ī ī īĸīī¸īī īĸīīīīī īīīīīī¤īī īĸīī¸īī īĸīīīīī īšīĒīžīžīĸī īŊīīĄīī§ī īīīīŖīžī¤īī īšīī˛īīĄīī īŽīēī¨īĢīī¤īī īīĒīī¨ī īēīīģīŖī īīĨīīĄīīīī īĸīīžīžīīīī īīīĄīīīī īī¸īĒī¨ī īŠīžīĻīīī īīĒīīī¸īĸī īī ī ī´īīĄīī¤īī īī īīŖīīĄīī¤īī īīīīīī īīī¤īī īīīĒīžīīī¤īī īīĄīīŖī īīĄīīīīžīī īīĢ īī¤īīī īŊīī˛īī īīīĻīīī īīī¤ī īīīīī īī īīĨīīĩīīī īīžī¸īīīī ī¨ ī īļī¤īī¨ī īīĄīīĨī īī īīīīīīīģīīīĄīīī īīīīĒīī īīīīīī īīī¤īī īīŽīĩīĄīīīī¨ī īīīī˛īŠī¤īī īīĄīīŖī īšīī¤īīī ī ī¸īī īšīģīŠī¤īī¨ī īīĒīīĄīīī īŽīīŖīīĄīī¤īī īīīŠī¸īŖīī ī īĄīīīī īīī¸īģīī īēīī¸īī īī īī īēīīĄīīī¸ī¤ī īīīžīŠīīī īīīīīī¨ī īīīīīīī¤īī īīĄīīŖī īĒīĨī īŗīīĄīīžīī¤īī ī ī´īīĄīī īī ī īīąīīŖī īīĻīīĩīĨī īīŖīīĄīī¤īī īšīīī īŊīīī¤īī¨ī īąīšī°ī˛ī īŊīīī īī īī īīĄīīĨī īī īīŖīīĄīī¤īī īĨīīĄīīĻī īīĒīīīī īīīŠīĒī¨ī ī īīīīī īīŖīīĄīī¤īī īŊīīī¸īī īīīī īīĄīīĨī īī īīīĒīī¤īī¨ī īīīĸīī¤īī ī´īīīĄīīīī¨ī īēī¨īĢīī¤īī īīī˛īīĄīīĨī¨ī īīīŖī¯īžī¤īī īīīīīžīī īŦīīīīīŠī¤īī īīīīīī¤īīžīĩīī¤īī īīžīīīī īŋīĨī īžīĒīīī īĢ ī īīĻīīŠīīĄīīīī īēīŽīī īŋīĨī īīīĒīī¤īī¨ī īīīĸīī¤īī¨ī ī¤ī¯īžī¤īī īēīīī īī īīīīīī īŗīīŖīīī īīīīīī īŊīīĻīĻī īŊīīžīīīĄīīī¨ ī īīīīīī īīī¤īīī īīīĒīī¤īī¨ī īīī¤ī¨īĢīī¤īī īīī˛īīĄīīīī īŋīĨī īī¸īĨīīĩīīĨī īīīīģīī ī¨īžī˛īī¤ī īīīīīŠī¤īī īīīīī¯īĩī¤īī īšīĄīīĄīīī ī īīĒīīĄīīīī ī´īīĄīī¤īī īīīīīīīīī īīīī¸īī¤ ī ī˛īĩī īī ī ī īīĄīīĄīī īīīī ī´īīĄīī¤īī īīīīīīīīī īīīī¸īī¤ī īīĨīžīī¸ī¤ī īīŖīī īŗīĩī°ī īŋīĨī īīī˛īĒī īīĨī īīŖīīĄīī¤īī īļī¸īī¨ ī īīģīŖī īīīīģīīĨī¨ī īīŠīĒīīĄīī īīīĨīžīī īīĄīīī īīĒīīžīžīĩīĄīī īīī¨ī īŠīŠīĩī¤īī īīī§īī˛ī¤īī īīīĻīĄīīī īī ī On the Runī īīīīĨ ī īąīĒīīŠīĨī īĒīĨī īī˛ī¯īīĨī īīīŖīīīī īī īī īīīĄīīīīĨī īīīžīīīĄīī¤īī īšī˛īžī¤ī īīī¤īīī īĩī°ī īŋīĨī īīīĩīĨī īąīīŖī īšī˛īĻī īēīīŖīĄīīīī īŧīĄīī īŽī īīīīīŠī¤īī īīĨīŽīĄīī¤ī Petroleum Today
- November 2012
2
we cover from head to toe
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62, Gomhuria St., Cairo - Egypt Tel. : (+2) 25915955 (+2)25919971 Fax : (+2) 259119934 Mob. : (+2) 01003449872 E-mail : mtsheid@link.net E-mail : info@mechanicaltoolsco.com E-mail : safety @mechanicaltoolsco.com
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Industrial Power Diesel or gas, 9kW to 30MW, bought, rented or paid for by kWh, we can provide your power solution. To locate your nearest distributor visit our website www.cumminspower.com
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Autostrad Road, Mokattam, Cairo P.O.Box 33 El Kalaa
Tel. : +202 25061600/ 1/ 2/ 3 Ext. 181 Dir : +202 25090034 Fax : +202 25065620
Mob. : +2 012 23163266 E-mail: azanaty.cum@eim-eg.com E-mail: manany.cum@eim-eg.com