Gulf Keystone Irak-Ölperle Deutschland schläft - Älteste Beiträge zuerst (Seite 108)

[texas2]

Antwort auf Beitrag Nr.: 54.654.635 von texas2 am 31.03.17 19:21:34

http://pbs.twimg.com/media/DHVayzzXgAE3eMc.jpg

[texas2]

Antwort auf Beitrag Nr.: 55.548.192 von texas2 am 17.08.17 23:23:06

http://mnr.krg.org/index.php/en/press-releases/593-krg-agree…


KRG Agrees Settlement of Receivables Owed to DNO and Genel Energy

24 August 2017

Erbil, Kurdistan Region - Iraq - The Kurdistan Regional Government (Government) has reached definitive binding agreements on the settlement of all historical outstanding receivables owed to DNO ASA, the operator of Tawke Field (DNO), and Genel Energy plc, which has participating interests in both Taq Taq and Tawke.

The following are the highlights of the settlements:

DNO and Genel shall make no further claims on all historical outstanding Tawke license receivables from the Government;

Genel has also agreed settlement of its claims for its share of historical outstanding Taq Taq license receivables from the Government;

The Government has exercised its audit rights and made provisions to its own satisfaction with respect to the Tawke license for the period up to the 31st July, 2017 and has no further claims on DNO or Genel;

The Government has exercised its audit rights and made provisions to its own its satisfaction with respect to Genel’s past entitlements in the Taq Taq license for the period up to the 31st July, 2017 and has no further claims on payments booked or received by Genel in this regard;

The Government has also discharged DNO and Genel from certain payment obligations including production bonuses, license fees, capacity building payments (in the case of Genel) and funding of a water purification project (in the case of DNO);

In consideration of these settlements, the government assignedits 20 percent Government Interest in Tawke to DNO, and has removed Genel’s obligation of 30% Capacity Building Bonus payments from the Tawke license;

In addition, DNO and Genel will receive 3% and 4.5% respectively of gross Tawke license revenues each month from the Government over a five-year period, effective as of 1 August, 2017.

With these adjustments, the Kurdistan Regional Government has no further obligations of past payments of receivable or Petroleum Costs to these two companies with respect to deliveries of oil to the Government.

The Government is very pleased with the productive and cooperative approach taken by both DNO and Genel in these negotiations, and looks forward to working with them to maximise revenues and to optimise potential reserves of the Tawke and Taq Taq license areas. We believe that this initiative will convey a strong positive message to the investors that the Government is fully committed to a robust win-win partnership with all the International Oil Companies operating in Kurdistan

[texas2]

Antwort auf Beitrag Nr.: 55.593.631 von texas2 am 24.08.17 21:10:10

der russe hilft den kurden aus


Rosneft, traders lend more to Kurdistan ahead of referendum -sources
Dmitry Zhdannikov

LONDON (Reuters) - Iraq’s Kurdistan has borrowed funds from its oil buyers including Russia’s Rosneft to help settle a $1 billion London court case, as it cleans up its finances ahead of an independence referendum.

Industry sources said the Kurdistan Regional Government (KRG) had restructured some of its existing crude export finance deals with oil buyers to raise funds to settle a long-running case with UAE-based Dana Gas and its partners.

The settlement, announced on Wednesday, is another sign that the semi-autonomous region is working on getting its finances in order ahead of a planned referendum this month seeking independence from the government in Baghdad.

Kurdistan also signed deals last week with key oil producers on its territory to clear outstanding debts.

“With debts to oil producers cleared and the litigation settled, the KRG is gearing up for the referendum on a positive note. It is obvious that it doesn’t want to carry forward any deadweight,” said an industry source who helped structure the latest deals.

Majid Jafar, managing director of the board at Dana Gas, said: “The KRG has a publicly stated goal of clearing debts with investors. By doing that they become more attractive for investors, they can develop their reserves faster and ultimately raise more capital.”

Kurdistan agreed to pay $1 billion to settle a $2.34 billion lawsuit brought by Dana and its partners in the Pearl consortium over unpaid oil liquids production. The case had run for several years until this week’s agreement.

To help raise the money, Kurdistan asked Rosneft and traders led by Trafigura to effectively restructure existing oil export pre-finance deals and defer some payments, sources said.

Rosneft declined to comment.

Trafigura confirmed that it had participated in the fund raising. “We provide ongoing support to the KRG,” it said.

Trading houses have been bankrolling Kurdistan for the past three years and have been joined this year by Rosneft, which is seeking to expand abroad and often acts as the Russian government’s foreign policy tool.

Prior to the latest round of lending, trading houses as well as Rosneft have loaned the KRG around $3 billion guaranteed by future oil sales.

Out of the $1 billion that the KRG will repay to Dana and its Pearl consortium partners, $400 million will go back to Iraq’s semi-autonomous region where the consortium agreed to increase investments to expand gas production.

[texas2]

Antwort auf Beitrag Nr.: 55.650.215 von texas2 am 01.09.17 19:29:03

http://ir1.euroinvestor.com/asp/ir/GulfKeystone/NewsRead.asp…
http://ir1.euroinvestor.com/asp/ir/GulfKeystone/NewsRead.asp…

easybrent said:
I think MOL is on the list, they know how good the asset is and they have the capital, and they need new resources. MOL is very open in their investor communication that they are looking to acquire E&P asset. I think their issue is that they invested close to $0.5bn in Akri-Bijeel which now turned into dust so it might be a struggle for their BOD to tell its shareholders that they are going to put in another $1bn into GKP/Shaikan over a few years.

I don't think Genel is there anymore. They don't have the capital or expertise to develop the asset better than GKP standalone. They need to use the cash they have to the gas development going and repay their bond.

I think Total is on top of the list, a) Their CEO has been very clear that they are looking to do deals to get lower on the cost curve, b) The Maersk deal also made Total a producer in KRG so they are now more active in the country, c) Total is no 1 or 2 when it comes to expertise on heavy oil reservoir similar to the Shaikan reservoir. With a STOIIP of 7-8.5bn barrels and with only an assumed recovery rate of 7-8%, the best operator of heavy oil field will have a great advantage here, d) Total was allegedly very close to acquiring DNO before the oil price collapsed so they have had their eyes on Kurdistan, e) Total seems to be very comfortable increasing exposure to the Middle East, given the deal they have done for the Al-Shaheen field in Qatar and the South Pars field in Iran in the last year.

DNO is clearly on the list, and I think DNO Chairman Bijan would love to acquire Shaikan. I think DNO issue is that, Bijan is a cheap investor, he won't get involved in a bidding war. He tried to buy GKP when it was distressed and he/RAK bought their stake in DNO when the company had a lot of issues. DNO Chairman said in the past that they were willing to exchange some of the receivables KRG owed them for interest in other blocks (read Shaikan), this option is no longer open as they have done the same deal for additional Tawke interest. I think DNO will try to get GKP but if there is another buyer competing I think it will be a challenge for DNO. DNO will probably offer shares, but I guess the senior bondholder is now looking for a clean cash deal.

Sinopec, the rumors earlier this year seemed to have some substance. If it wasn't for the Taq Taq issues I think Sinopec would be very interested. It must be a big hurdle to put in new billions in KRG after the Taq Taq issues. On the other side, Sinpoec has been active in KRG now for 8 years so they show know how to deal with the government. Shaikan ticks a lot of boxes for Sinpoec.

Rosneft, seems to be very interested in Kurdistan. Maybe they are only after the gas to protect the Russian oligopoly on gas from the east to Europe. I don't think Rosneft would be the most compelling buyer from a GKP shareholder perspective. First, they would most likely want to get Shaikan/GKP as part of a larger government deal between Russia and KRG. That would not yield the best price. Secondly, Rosneft would have some hazel to acquire a UK listed company, even thou GKP ties to the UK is very limited.

Chevron, one of the technical best-equipped company when it comes to carbonate reservoir similar to Shaikan. They operate the Wafra field (Kuwait/Saudi Arabi) which shares a lot of similar reservoir characteristic with Shaikan. They have been very successful lifting the recovery factor from this field. The US oil majors have been very passive on the acquisition front in the current oil price downturn, with the exception from bolt-on acquisitions in the US shale space.

OMV, maybe, but they have probably burnt to much cash already in Kurdistan.

I think it will remain quiet until GKP has sorted out the 2nd amendement for the PSA. But when that is sorted and as soon as one player makes a move for GKP I think several other oil company will resuracfe with significant interest.

denke dass aber auch eine BP, Conoco, ENI, Shell etc. ebenfalls nachziehen müssen, wenn sie nicht Total davon ziehen lassen wollen

[H2OAllergiker]

Wieviele "reine" Kurdistanplayer gibt es noch, und was passierte mit Western Zagros, bzw warum die Deplazierung vom Markt durch Cestrel Energy?

Ich zähle momentan DNO, Genel und Gulf Key, habe ich etwas vergessen?
Bei Genel fallen die Umsätze, ist dort irgendetwas passiert, oder wollte man nur Nathan Rothschild eins auswischen?

[texas2]

Antwort auf Beitrag Nr.: 55.788.270 von texas2 am 20.09.17 20:08:32

Gute Analyse zur Situation in N-Irak Kurdistan
https://www.rt.com/op-edge/413789-kurdistan-iraq-krg-crisis/

[texas2]

Antwort auf Beitrag Nr.: 56.534.237 von texas2 am 22.12.17 22:13:23

Obertägig jagt in N-Irak Kurdistan nach wie vor eine politische Krise die nächste
Untertägig ist alles paletti und Shaikan ist nach wie vor eine Weltklasse Lagerstätte
https://www.pesgb.org.uk/events/london-evening-lecture-febru…

Irgendwie verhext: es ist schon schwer genug Lagerstätten mit geringen geologischen Unsicherheiten und viel Öl zu finden. Und wenn man sie endlich hat, kommt zum Ausgleich politisches Risiko dazu, das die Menschen vor Ort mit Blut bezahlen ...

[texas2]

Antwort auf Beitrag Nr.: 56.173.656 von H2OAllergiker am 13.11.17 20:06:15

Zitat von H2OAllergiker: Wieviele "reine" Kurdistanplayer gibt es noch, und was passierte mit Western Zagros, bzw warum die Deplazierung vom Markt durch Cestrel Energy?

Ich zähle momentan DNO, Genel und Gulf Key, habe ich etwas vergessen?
Bei Genel fallen die Umsätze, ist dort irgendetwas passiert, oder wollte man nur Nathan Rothschild eins auswischen?

Shamaran von den Lundins

Western Zagros wurde zu billig verkauft.

[BaronOppenSAL]

Moin, leider keine übernahme.
Dieser zahawi ist raus bei gulf.
Spart gulf ein paar tausender im monat lohn.
Gibts meinungen für mögliche übernahme????

[texas2]

Antwort auf Beitrag Nr.: 56.684.426 von BaronOppenSAL am 11.01.18 12:08:31

https://www.platts.com/latest-news/oil/london/kurdish-crude-…

Kurdish crude oil quality variance limits appeal for Med buyers: sources
London (Platts)--26 Feb 2018 742 am EST/1242 GMT

The quality and quantity of Kurdish crude oil has fluctuated in recent months, frustrating Mediterranean buyers of the grade, but recent changes might return it to some of its previous stability, traders told S&P Global Platts.

In recent years, most crude exports from oil-rich Northern Iraq have been controlled by the Kurdish Regional Government following a power vacuum in the region in 2014 amid fighting with Islamic State for control of the area.

Under a 2016 agreement with Iraq's Baghdad central government, the KRG exported around 550,000-600,000 b/d through Iraq's only northern export route, Kurdistan's export pipeline via Turkey.

However, after a September 2017 referendum in the regions controlled by the KRG that favored independence, the Iraqi government moved to take control of the majority of oilfields in the area.

As a result, exports of the KRG's Kurdish crude, known as KBT, to the Turkish port of Ceyhan fell by half and the quality of crude changed significantly, buyers said.

"When you look at KBT now, it's 200,000-250,000 b/d when it used to be 550,000 b/d," a crude trader active in the market said. "Plus, there are issues of quality; it's heavier and quality has worsened."

Trading sources said heavier crude streams being added to the pipeline were to blame for the changing quality, including the re-appearance of heavy, sour volumes from the Shaikan field.

The exact change in the quality of KBT crude has been the subject of some debate among trading sources, but all acknowledged it had become heavier since the introduction of Shaikan.

"Shaikan has been blended in since October and that has decreased the overall API to around 29 degrees, from around 31 degrees it previously was," a second trader said.

Others said the grade could be even heavier than this.

"I've heard that KBT has gotten heavier and sourer and that the API is below 28 degrees, which is worse than Basrah Light," a third trader said.

The majority of Shaikan crude oil is currently being transported via truck from the Shaikan field to Fishkhabour, where it has been injected into the export pipeline to Turkey gradually since November 15, while the rest is sold domestically, according to field operator Gulf Keystone.

Gulf Keystone operates Shaikan, which it discovered in 2009, and has a 75% working interest. The other partners are Hungary's MOL (20%) and Texas Keystone (5%).

Prior to this, Shaikan field crude had not been added to the Ceyhan pipeline system since February 2017.

"It's created difficulty with lifters; some people have had problems with it, and some of it was dealt with a pricing de-escalator, but often you needed to rebalance it with something else, i.e. you'd buy one more sweet crude cargo than you'd originally anticipated to blend -- and it could end up being more expensive than [buying similar sour crude like] Urals, or Basrah Light outright," a fourth crude trader said.

Ongoing tension over disputed oil fields in the north has caused uncertainty about future exports and what fields will be included in the KRG's KBT crude and Northern Oil Company's Kirkuk crude, which comes from the same region.

However, trading sources said recent news about Shaikan crude being exported north to domestic refineries should assist in a return to the previous quality.

"We've heard lots of different stories, but overall, looks like crude from Shaikan will be exported [elsewhere], so as a result KBT will see a smaller volume, but quality should go back to normal," the fourth trader said. "It will be smaller than 300,000 b/d but quality should stabilize."

One potential outcome of the heavier KBT quality could be to demand boost for other Mediterranean crude grades to be