What this name animals besides..?
Hehehe.. he is the history of the world for offshore oil & gas industry in Indonesian, Why? Concrete Barge, and the first LPG lifting conducted at the offshore is He "Ardjuna Sakti" which was born in 1975.
She's moored at the ONWJ (Offshore North West Java) SBM-5 Ardjuna Terminal.
But now somehow fate, because age is eaten accidentally go. if you want to know more can visit the Concrete Technology Corporation. Created by @abrar2009
Use link:
# Large Floating Concrete LNG/LPG Offshore Platforms
# Single Bouy Mooring
# FPSO Brochure 0507
# SBM-Imodco
Showing posts with label Oil and Gas Tech. Show all posts
Showing posts with label Oil and Gas Tech. Show all posts
BP to sell W. Java upstream assetThursday, February 19, 2009 - 09:24PM GMT+7Anglo-American energy giant BP Plc plans to sell its entire interest in Offshore North West Java (ONWJ) PSC in West Java.Nico Kanter, BP Indonesia Head of Country told Petromindo.
Com that BP planned to conclude the divestment by year-end.“BP plans to sell BP West Java Limited, an entity that holds 46 percent interest in ONWJ to another entity that would be able to develop the block more efficiently,” Kanter said.Thus far, BP has yet identified definitive buyer for the asset, he said.
But industry sources said that Chinese oil firm CNOOC Ltd, which is the second biggest stake holder in the block with 36.7 percent interest might be the strong contender for the block.ONWJ is one of Indonesia's largest offshore oil and gas operators - supplying energy for the domestic market on the island of Java and beyond.
The ONWJ concession stretches from Cirebon in the east to the Seribu Islands in the west. The ONWJ facilities include 670 production wells, 170 platforms, over 40 processing and service facilities, along with approximately 1,600 km of sub-sea pipelines.According to data from Ministry of Energy and Mineral Resources, the block produced 270MMCFD of gas in 2008 and more than 20,000 BOPD of oil.
The block supplies gas to state gas distribution firm PGN, state electricity firm PLN and state fertilizer firm Pupuk Kujang.The sale would not affect BP’s other interest in Indonesia such as Tangguh LNG project, East Kalimantan gas producer VICO Indonesia, lubricant business Castrol and petrochemical assets, Kanter said. (godang)
Energy market has turned upside-down amid U.S. recession
A customer pumps gas at a station in Menlo Park, Calif., on Thursday. Benchmark crude prices last week fell to a yearly low on the same day that retail gas prices hit a yearly high.
NEW YORK - Crude oil prices have fallen to new lows for this year. So you'd think gas prices would sink right along with them.
Not so.
On Thursday, for example, crude oil closed just under $34 a barrel, its lowest point for 2009. But the national average price of a gallon of gas rose to $1.95 on the same day, its peak for the year. On Friday gas went a penny higher.
Not so.
On Thursday, for example, crude oil closed just under $34 a barrel, its lowest point for 2009. But the national average price of a gallon of gas rose to $1.95 on the same day, its peak for the year. On Friday gas went a penny higher.
To drivers once again grimacing as they tank up, it sounds like a conspiracy. But it has more to do with an energy market turned upside-down that has left gas cut off from its usual economic moorings.
The price of gas is indeed tied to oil. It's just a matter of which oil.
The benchmark for crude oil prices is West Texas Intermediate, drilled exactly where you would imagine. That's the price, set at the New York Mercantile Exchange, that you see quoted on business channels and in the morning paper.
Right now, in an unusual market trend, West Texas crude is selling for much less than inferior grades of crude from other places around the world. A severe economic downturn has left U.S. storage facilities brimming with it, sending prices for the premium crude to five-year lows.
But it is the overseas crude that goes into most of the gas made in the United States. So prices at the pump will probably keep going up no matter what happens to the benchmark price of crude oil.
"We're going definitely over $2, and I bet we'll hit $2.50 before spring," said Tom Kloza, publisher and chief oil analyst at Oil Price Information Service. "This is going to be an unusual year."
Recession cuts demand for crudeOn the last day of 2008, gas went for $1.62 on average, according to the auto club AAA and the Oil Price Information Service and Wright Express, a company that tracks transportation data.
The recession in America has dramatically cut demand for crude oil, and inventories are piling up. So prices for West Texas crude have fallen well below what oil costs from places like the North Sea, Saudi Arabia and South America.
That foreign oil sells in some cases for $10 more per barrel — and that doesn't even include shipping.
Brent North Sea crude, which feeds some East Coast refineries — and therefore winds up at many gas pumps around America — now costs about $7 more per barrel than the West Texas crude. Deutsche Bank analysts say the trend should continue.
Historically, West Texas International crude has cost more. So nobody bothered building the necessary pipelines to carry it beyond the nearby refineries in the Midwest, parts of Texas and a handful of other places.
Now that the premium oil is suddenly very inexpensive, refiners elsewhere can't get their hands on it.
"It's so cheap," said Lynn Westphall, the senior VP of external affairs at San Antonio-based Tesoro, which owns a half dozen refineries on the West Coast and Hawaii. "But you can't just build a pipeline to everywhere. We know we can't get it."
Drivers remember $4 gasTesoro's refineries in North Dakota and Utah use locally drilled oil and Canadian oil, which also has been running about $10 more per barrel than West Texas crude.
So why not build more pipelines? Because investing billions of dollars over several years makes no sense when the prices could just flip a year from now to where they were before.
"How long is WTI going to be cheaper than Venezuelan oil? Than Canadian?" asked Charles T. Drevna, president of the National Petrochemical and Refiners Association. "You just don't build a pipeline like that."
At the same time, refiners have seen the same headlines as everyone else about job losses and consumer spending. They've slashed production just to avoid taking losses on gasoline no one will buy. Result: Higher gas prices.
"Why should a refiner produce more gasoline when the stuff we produce is not being used?" Drevna said.
Of course, complex explanations of the diverging price paths of West Texas crude and gas are unlikely to placate frustrated drivers. Memories of last summer's $4-plus gas have not receded.
"Drivers are being ripped off even more now than before," said Stuart Pollok, who was filling up recently at a Chevron station in downtown Los Angeles. He pointed out Exxon Mobil Corp. reeled in billions in profits last year when oil prices neared $150.
Others see the conspiracy reaching higher.
"It got really low during the elections and now it's going back up," said Christel Sayegh, a 23-year-old graphic designer in Los Angeles. "They do that every election, though, right?" Reported MSNBC.com
The price of gas is indeed tied to oil. It's just a matter of which oil.
The benchmark for crude oil prices is West Texas Intermediate, drilled exactly where you would imagine. That's the price, set at the New York Mercantile Exchange, that you see quoted on business channels and in the morning paper.
Right now, in an unusual market trend, West Texas crude is selling for much less than inferior grades of crude from other places around the world. A severe economic downturn has left U.S. storage facilities brimming with it, sending prices for the premium crude to five-year lows.
But it is the overseas crude that goes into most of the gas made in the United States. So prices at the pump will probably keep going up no matter what happens to the benchmark price of crude oil.
"We're going definitely over $2, and I bet we'll hit $2.50 before spring," said Tom Kloza, publisher and chief oil analyst at Oil Price Information Service. "This is going to be an unusual year."
Recession cuts demand for crudeOn the last day of 2008, gas went for $1.62 on average, according to the auto club AAA and the Oil Price Information Service and Wright Express, a company that tracks transportation data.
The recession in America has dramatically cut demand for crude oil, and inventories are piling up. So prices for West Texas crude have fallen well below what oil costs from places like the North Sea, Saudi Arabia and South America.
That foreign oil sells in some cases for $10 more per barrel — and that doesn't even include shipping.
Brent North Sea crude, which feeds some East Coast refineries — and therefore winds up at many gas pumps around America — now costs about $7 more per barrel than the West Texas crude. Deutsche Bank analysts say the trend should continue.
Historically, West Texas International crude has cost more. So nobody bothered building the necessary pipelines to carry it beyond the nearby refineries in the Midwest, parts of Texas and a handful of other places.
Now that the premium oil is suddenly very inexpensive, refiners elsewhere can't get their hands on it.
"It's so cheap," said Lynn Westphall, the senior VP of external affairs at San Antonio-based Tesoro, which owns a half dozen refineries on the West Coast and Hawaii. "But you can't just build a pipeline to everywhere. We know we can't get it."
Drivers remember $4 gasTesoro's refineries in North Dakota and Utah use locally drilled oil and Canadian oil, which also has been running about $10 more per barrel than West Texas crude.
So why not build more pipelines? Because investing billions of dollars over several years makes no sense when the prices could just flip a year from now to where they were before.
"How long is WTI going to be cheaper than Venezuelan oil? Than Canadian?" asked Charles T. Drevna, president of the National Petrochemical and Refiners Association. "You just don't build a pipeline like that."
At the same time, refiners have seen the same headlines as everyone else about job losses and consumer spending. They've slashed production just to avoid taking losses on gasoline no one will buy. Result: Higher gas prices.
"Why should a refiner produce more gasoline when the stuff we produce is not being used?" Drevna said.
Of course, complex explanations of the diverging price paths of West Texas crude and gas are unlikely to placate frustrated drivers. Memories of last summer's $4-plus gas have not receded.
"Drivers are being ripped off even more now than before," said Stuart Pollok, who was filling up recently at a Chevron station in downtown Los Angeles. He pointed out Exxon Mobil Corp. reeled in billions in profits last year when oil prices neared $150.
Others see the conspiracy reaching higher.
"It got really low during the elections and now it's going back up," said Christel Sayegh, a 23-year-old graphic designer in Los Angeles. "They do that every election, though, right?" Reported MSNBC.com
As a successor of Langsa TAC operatorship, a joint venture company MEDCO MOECO Langsa Ltd. was established by PT. Medco Energi Internasional Tbk. of Indonesia and Mitsui Oil Exploration Co., Ltd of Japan. The JV anticipated an earlier production re-start from the Langsa field; however the issue of Pertamina's production permit has been delayed due to Pertamina's management change in August and Indonesian presidential election in September 2004. On commencing the re-development of Langsa field, MEDCO MOECO Langsa Ltd. re-evaluated the reservoir of the Langsa field. The drilling of two new subsea wells, L3 and H4, was completed and the initial flow was received from L3 well. MEDCO MOECO Langsa Ltd. is currently preparing for the production from the existing L1 well and from the new H4 well. The production rate from Langsa field is expected to increase in March 2005. Langsa FPSO Pte Ltd. was established for the owning and operating of FPSO "MV8 Langsa Venture" in Langsa field. MODEC, Inc. holds 60% and Sojitz Corporation holds 40% of its share. Currently Langsa FPSO Pte Ltd. employs approximately fifty Indonesia nationals on board and on shore. @abrar2009 Use link to more detail FPSO MV8:
Langsa TAC development was initially started by Australian based Matrix Oil in November 2001 by using the FPSO "MV8 Langsa Venture" owned and operated by MODEC. The production has been suspended since October 2002 due to Matrix's financial problems.
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