Sparring partners

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Linde to ‘focus on investment’ with leading players

first_imgSubscribe Get instant access to must-read content today!To access hundreds of features, subscribe today! At a time when the world is forced to go digital more than ever before just to stay connected, discover the in-depth content our subscribers receive every month by subscribing to gasworld.Don’t just stay connected, stay at the forefront – join gasworld and become a subscriber to access all of our must-read content online from just $270.last_img

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HFT monitors argon quality in welds

first_imgSubscribe Get instant access to must-read content today!To access hundreds of features, subscribe today! At a time when the world is forced to go digital more than ever before just to stay connected, discover the in-depth content our subscribers receive every month by subscribing to gasworld.Don’t just stay connected, stay at the forefront – join gasworld and become a subscriber to access all of our must-read content online from just $270.last_img

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Helium reserves or resources?

first_imgSpecified Report Date Yes Yes Yes  Discovered  YesYes No  10% Probability of Recovery (High) 3P 3C 3U  Recoverable Yes Potentially Potentially  50% Probability of Recovery (Best) 2P 2C 2U  Economic Yes Not Required Not Required  Chance of Commerciality High Mid Low  90% Probability of Recovery (Low) 1P 1C 1U  ReservesReserves are the highest class of resources and are defined by PRMS as, “those quantities anticipated to be commercially recoverable by application of development projects to known accumulations from a given date forward under defined conditions.”Reserves must satisfy four criteria: DiscoveredRecoverableCommercial (economic)Remaining (not already produced).Reserves can be developed (wells drilled) or undeveloped (adjacent well locations for wells not yet drilled).Of the developed reserves, wells can be producing or non-producing (wells drilled, but not yet producing). The estimates of reserves can be categorised based on their probability of recovery. These are reported as ‘Proved’ (the symbol 1P), ‘Proved-plus-Probable’ (2P), and ‘Proved-plus-Probable-plus-Possible’ (3P). These are sometimes referred to as the ‘low’, ‘best’, and ‘high’ estimates.Proved reserves are those reserves estimated to have a 90% chance of recovering the estimated quantities. Similarly, 2P reserves have a 50% chance of recovering the estimated quantities and 3P reserves have at least a 10% chance of recovering those quantities. The difference between 2P and 1P reserves are known as probable reserves (symbol P2) and the difference between 3P and 2P reserves known as possible reserves (P3). Reserve economics are usually determined based on the 2P estimate.Contingent resourcesThe next class of resources is known as Contingent Resources.Contingent resources are defined by PRMS as, “those quantities as of a given date to be potentially recoverable from known accumulations by application of development projects, but which are not currently considered to be commercially recoverable owing to one or more contingencies.”The criteria for contingent resources are that they are discovered and potentially recoverable. These two criteria are usually met by the penetration of a wellbore within the reservoir and production of a quantity of reservoir fluid to the surface. There is no requirement for the discovery to be economic. The contingency or contingencies preventing commerciality could be low production rate, limited reservoir, high cost of development, or low commodity prices.Because many helium projects are in remote locations, with no helium gas processing capacity in the area, they are often contingent upon the construction of a helium processing plant. These plants often cost 10x+ the cost to drill a well. In any resources report, these contingencies should be listed.Contingent resources estimates are also categorised by their probability of recovery of 90%, 50%, and 10% which, for contingent resources are 1C, 2C, and 3C, respectively. Most reserves and resources estimators consider contingent resources to be a ‘holding area’ and the quantities either moved into reserves at some later date or written off if the contingencies cannot be resolved.Prospective resourcesThe lowest class of resources are Prospective Resources.Prospective resources are defined as, “those quantities estimated as of a given date to be potentially recoverable from undiscovered accumulations.”These are essentially prospects with some likelihood of discovery. Again, prospective resource estimates are categorised by their probability of recovery of 90%, 50%, and 10%, which are 1U, 2U, and 3U, respectively. Since this class of resources is undiscovered, it has the lowest chance of commerciality and the highest risk of recovery.About the authorJames R. Weaver, P.E. is CEO of Aeon Petroleum Consultants, a registered petroleum engineering firm.Weaver has been in the petroleum business over 40 years and has been primarily involved in reservoir engineering and the estimation of reserves and resources. He has previously worked for DeGolyer and MacNaughton and an Oklahoma-based bank.Weaver is also CEO of Blanca Peak Resources, a helium exploration firm. He can be reached at jim@aeon-petro.com or +1 (817) 239-6117. There are currently 10 -20 companies actively involved in helium exploration, including a handful that are publicly traded. Some of these companies are issuing frequent press releases, as they look to raise money to fund their project. It is difficult for a potential investor or business partner to evaluate these opportunities without a general understanding of reserve and resource nomenclature.When it comes to the chances of commerciality and risk of recovery, there is a lot of difference between reserves and resources. This exclusive article for gasworld will discuss the meanings and differences between ‘Reserves’, ‘Contingent Resources’, and ‘Prospective Resources’ (a table later in this article lists criteria comparing the various types of resources).Understanding the terminologyWhile the focus of this article is helium reserves and resources, these terms and ground rules were originally developed for oil and natural gas exploration.The terminology used by reserve and resource estimators to classify and categorise reserves and resources is very specific. The predominate framework used to estimate oil and gas reserves and resources is the Petroleum Resources Management System (PRMS). These guidelines were developed in 2007 (and subsequently updated) to better align estimates of reserves and resources with a company’s financial statements. PRMS is the predominant system used by oil and gas companies, financial institutions, and government agencies for the reporting of oil and gas reserves and resources.Although the guidelines pertain specifically to oil and gas reserves and resources, the same guidelines can be used to estimate reserves and resources of non-hydrocarbon gases like helium. For those interested, I would recommend downloading a copy of PRMS from the Society of Petroleum Engineers.By definition, PRMS is a ‘project-based’ reserves and resources system. A project could be the drilling of a single well, a helium exploration prospect, or the installation of a compressor. Once a project is defined, the reserves and resources for that project can be estimated based on PRMS guidelines. Reserves and resources are defined at the point of sale under standard conditions as of a specified date.Except for minute quantities in the air, helium exists as a component of gaseous mixtures in reservoirs in the sub-surface. This gas is brought to the surface by drilling and completing wells in these reservoirs. The removal of helium is accomplished by processing through a plant specially designed to remove and capture helium. The point of sale for helium is typically the tailgate of a processing plant at standard conditions specified in a sales contract.Helium Resources Criteria CrtieriaReserves Contingent Resources Prospective Resources  Risk of Recovery Low Mid High last_img read more

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The Nederlands: N-Seatec Redesigns Subsea Grabber

first_imgN-Seatec redesigned an existing grabber design for a specific cable removal job for a survey company.The grabber is specifically designed for cable diameters vary from 50 up to 200mm.2 hydraulic cylinders are installed to keep the grabber in open position during lowering & positioning.Furthermore the unit is designed for ROV operations as well.Grabber is load tested up to 11Tons.Press Release, June 26, 2014last_img

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Sentencing

first_imgImprisonment – Length of sentence David McLachlan (assigned by the Registrar of Criminal Appeals) for the defendant. The complainant, S, was the defendant’s granddaughter. The defendant suffered from cancer and underwent surgical, chemical and radiotherapy treatment. He also suffered amputation of one of his legs. Subsequently, when S was 13 years old, she fell out with her mother and went to live with the defendant who told her that her mother did not like her. He also gave her cannabis and alcohol. Subsequent to S going to live with the defendant, he started to abuse her. He undertook a persistent course of conduct, using coercion and drugs, which involved the regular touching of S’s breasts (count 1). The defendant also undertook a persistent course of conduct, using drugs and alcohol, which involved him putting his fingers into S’s vagina (count 2). Count 3 consisted of a single act by the defendant, wherein he licked S’s vagina with his tongue. On one occasion, the defendant also attempted unsuccessfully to put his penis into S’s vagina (count 4). In addition, on one occasion S was made by the defendant to lie down naked whereupon he got a dog to try to mount her (count 5). All of the offences were committed over a period of four months when S was 13 years old. The abuse ended when S attempted to kill herself, whereupon she was taken to hospital and subsequently into care. The defendant was later convicted of two counts of sexual assault (counts 1 and 3), one count of assault by penetration (count 2), one count of attempted rape (count 4) and one count of causing or inciting a child to engage in sexual activity (count 5). He was sentenced to twelve months’ imprisonment for count 1, eight years’ imprisonment for count 2, two years’ imprisonment for count 3 and ten years’ imprisonment for count 4, all to run concurrently. He was further sentenced to four years’ imprisonment in respect of count 5, to run consecutively. The total sentence imposed was accordingly fourteen years’ imprisonment. He contended that the sentence was manifestly excessive on the grounds, inter alia: (i) that the judge had failed to give adequate consideration to the health and age of the defendant; (ii) that the judge had failed to have adequate regard to the defendant’s lack of previous convictions; (iii) that insufficient regard was had to the short period of time over which the offences had occurred; (iv) that insufficient regard was had to the personal mitigation of the defendant; and (v) that the judge had failed to have sufficient regard to the principle of totality and, in particular, that the sentence imposed for count 5 should not have been consecutive to counts 1-4. The appeal would be dismissed. The total sentence of 14 years’ imprisonment was not manifestly excessive. The judge had taken fully into account the age and medical condition of the defendant. So serious was the nature of the offences that the absence of previous convictions was irrelevant. There was nothing in the submission that the period of time over which the offences had occurred was short, as the period of abuse came to an end only due to the fact that S took matters into her own hands and attempted to kill herself. The judge had repeatedly had regard to the matters of personal mitigation. In relation to the submission that the judge had failed to have regard to the principle of totality, it was to be observed that no representations had been made in relation to the individual sentences passed. The concurrent sentences in respect of counts 1-4 were passed in accordance with the relevant sentencing guidelines and no criticism had been made of them. The judge had decided to treat count 5 as a count apart from mainstream offending. He had gone out of his way in his sentencing remarks to refer to the offence as one of singular and grotesque depravity. Whilst that was not the only way in which he could have dealt with the matter, there was nothing wrong in him passing a consecutive sentence.center_img R v X: Court of Appeal, Criminal Division (Lord Justice Pitchford, Mr Justice Wilkie, Mr Justice Holroyde): 6 September 2011last_img read more

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G2 Ocean names Wallem

first_imgDickson Chin, managing director of Wallem Ship Agency, said: “Our teams are very experienced in handling multipurpose vessels and have completed extensive preparation work for these calls which commenced at the end of 2017.”The agreement with G2 Ocean includes Wallem’s offices in Singapore, Malaysia, Thailand, the Philippines, Vietnam and Myanmar. G2 Ocean, a joint venture between Gearbulk and Grieg Star, was formed in May 2017 and operates a pool of around 130 multipurpose vessels, ranging from open and semi-open hatch to conventional bulk carriers.  www.g2ocean.comwww.wallem.comlast_img read more

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Third woman in less than a decade to become Bar Council vice-chair

first_imgA silk who acted in the largest fraud case brought by the Department for Environment, Food and Rural Affairs will become the third female vice-chair of the Bar Council in eight years.Amanda Pinto QC, of 33 Chancery Lane, was co-chair of the bar’s rule of law group from 2013 to 2015. She will step down as chair of the international committee to take on her new role.#*#*Show Fullscreen*#*# Amanda Pinto QCPinto, who was called to the bar in 1983, prosecuted on behalf of DEFRA in a 2010 involving millions of battery eggs that were sold in supermarkets as free range.The Middle Temple, where Pinto is a bencher, says the QC is committed to promoting the rule of law at home and overseas. Pinto was co-chair of the Bar Council’s rule of law group from 2013 to 2015. She organised international campaigns to ensure war crime victims could access full medical care. She also secured the release of a lawyer arrested for representing an unpopular client.Criminal and regulatory specialist Richard Atkins QC, who has been a mental health tribunal judge since 2014, will take over from Andrew Walker QC as Bar Council chair in January.Atkins, called to the bar in 1989, was leader of the Midland circuit from 2014 to 2017. He is based at St Philips Chambers in Birmingham. The chambers’ website states that Atkins is regularly instructed to defend in privately funded cases ‘and encourages the use of fixed or capped fees providing certainty of costs for clients’.Grant Warnsby, called to the bar in 1997 and a qualified chartered accountant, has been elected treasurer. Warnsby specialises in the oil and gas industry, and has worked in BP since 2004. He is senior vice-president of the Bar Association for Commerce, Finance and Industry.last_img read more

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Reagge Boyz to face Costa Rica in semi-final qualifying game

first_imgJamaica’s Reggae Boyz battle Costa Rica at the National Stadium in Kingston Boyz hope to retain path to 2018 World CupJamaica’s Reggae Boyz seek to retain their path to the 2018 World Cup tonight, as they face their second semi-final qualifying game against Costa Rica at the Estadio National in San Jose. Team Jamaica currently stands in third place in Group B, with 3 points after a 1-1 draw with Costa Rica at the National Stadium in Kingston on Friday night. Je-Vaughn Watson had given the Boyz a 16th minute lead on Friday to which Johnny Acosta responded with a 67th minute equaliser that gave Costa Rica a share of the points.This round of CONCACAF Qualifiers comprises three groups and the top two teams from each group will play in a six-team mini-league. The top three qualify for the 2018 FIFA World Cup in Russia and the fourth place team goes into an inter-continental play-off.The Boyz held the advantage for majority of the first half, pushing Costa Rica back into their defensive third with good passing. They were also quicker to the balls that results in them breaking up a number of their opponents’ attacks as soon as they started.They opened the scoring when Watson slotted home after a cross by Kemar Lawrence from the left, had him getting behind his markers on the right just outside the six-yard box to head past Keylor Nevas in goal for Costa Rica.Costa Rica came out more purposeful for the second stanza and eventually found the equaliser when Jamaica’s defenders wandered and left Christian Bolanos free on the right. He was picked out by a cross and his shot was blocked by Jamaica’s goalkeeper Andre Blake into the path of Acosta, who tapped into an open goal.last_img read more

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Thousands stranded in Congo as floods wreak havoc

first_imgFlash floods cause havoc in Johannesburg Floods wreak havoc in Kenya capital Thousands flee renewed clashes in DR Congocenter_img More than 30,000 people have been stranded without shelter in Zongo, in the Democratic Republic of Congo’s South Ubangi region, since mid-October due to flooding and the waters are not receding.File photo of floods i the DRCThe river Ubangui burst its banks three weeks ago causing the initial flooding. Repeated rains caused the water level to rise. Some homes collapsed in the city of 138,000 residents.The mayor of Zongo, Placide Kumugo Soko said 36,822 people including 24,000 children were now homeless and in desperate need of drinkable water, medicine and food.He said he was concerned for the health of the stranded population because latrines had collapsed and there were no mosquito nets.They are staying on the grounds of the mayor’s office but have no tents or roofed buildings to shelter them.“There are even women giving birth here but as there is no shelter we can’t house them,” said Thierry Mbakoua, a stranded resident.A humanitarian coordinator, Blaise Mundemba, said on Friday (November 8) they have been waiting for help from the government agencies for 28 days.The charity Caritas Congo said neighbouring region of North Ubangi was also hit by flooding saying the cities of Mobayi-Mbongo, Bosobolo, Businga, Yakoma and Gbadolite were badly hit. They are calling for emergency assistance.Rain has been particularly bad this year in DRC.Zongo said they had not seen that level of flooding in five years.Relatedlast_img read more

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