Nido to Run Casing at Gindara Well

- Nido to Run Casing at Gindara Well

Tuesday, June 07, 2011
Nido Petroleum Ltd.

Nido, on behalf of the SC 54B Joint Venture, provided an interim update on the progress of the Gindara-1 well.

On June 7, 2011, the Gindara-1 well was preparing to run the 9 5/8" casing at the revised depth of 3,345 meters MD (3,323 meters TVDss) in the lower section of the Pagasa Formation just above the Nido Limestone primary reservoir objective. Progress since the last update has been 1,680 meters.

Whilst drilling the Pagasa Formation, the secondary Coron Clastics reservoir interval was encountered between 2,907 meters MD (2,885 meters TVDss) and 3,267.5 meters MD (3,245.5 meters TVDss), a gross thickness of 360.5 meters. This was approximately 33 meters deep to prognosis. Based on LWD logs (Logging While Drilling) the section is interpreted to be water-wet. Minor mudlog gas readings (C1 up to C4) were recorded throughout the secondary reservoir section.

The forward operation is to run and cement the 9 5/8" casing and then drill ahead into the primary Nido Limestone reservoir in the 8 ½" hole section, down to the planned Total Depth of 3,672 meters MD (3,650 meters TVDss). Running and setting the 9 5/8" casing is anticipated to take up to five days to complete.

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Thailand's Natural Gas Reserves to Run Out in 18 Years

- Thailand's Natural Gas Reserves to Run Out in 18 Years

Wednesday, June 01, 2011
Knight Ridder/Tribune Business News
by Watcharapong Thongrung, The Nation, Bangkok, Thailand

Thailand's natural-gas reserves are estimated to be enough for only 18 more years if no new reserves are found, said Kurujit Nakornthap, deputy permanent secretary of the Energy Ministry.

He made the remark yesterday (May 31) at a seminar on Thailand's energy outlook. He said the current natural-gas reserves, both proven and probable, stand at 23 trillion cubic feet. If production is maintained at the rate of 3,747 million cubic feet per day (MMcfd) and no new reserves are found, the current reserves will run out in 18 years.

He added that the ministry had given priority to seeking new resources to ensure national energy stability.

He added that of the country's proven petroleum reserves as of 2009, natural gas stood at 11.026 trillion cubic feet, condensate at 255 million barrels, and crude oil at 180 million barrels. Of total probable reserves, the natural-gas amount stood at 6.170 trillion cubic feet, condensate at 86 million barrels, and crude oil at 170 million barrels.

This year natural-gas production in Thailand in many fields is expected to reach a combined 3,717MMcfd, up from 3,511MMcfd, while the demand from many industrial sectors is estimated at a combined 4,006MMcfd, down from 4,039MMcfd last year.

The high demand for natural gas means Thailand is expected to import 702MMcfd from Burma this year.

Kurujit said one threat to the country's energy security was its over-dependence on natural gas for generating electricity. It is estimated that natural gas this year will account for 71 percent of all energy sources used for electricity generation. Coal-fired power plants and proposed nuclear plants face opposition from communities.

Department of mineral fuels director-general Songpop Polachan said it would rapidly seek additional domestic petroleum sources through the planned granting of new concessions, the promotion of production in small petroleum fields, and a feasibility study on the production of natural gas from high-carbon-dioxide fields.

Copyright (c) 2011, The Nation, Bangkok, Thailand / Asia News Network

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Ahmadinejad to Run Oil Ministry Despite Legal Ban

- Ahmadinejad to Run Oil Ministry Despite Legal Ban

Monday, May 23, 2011
Knight Ridder/Tribune Business News
by Farshid Motahari, dpa, Berlin

Iranian President Mahmoud Ahmadinejad will run the Oil Ministry despite a legal ban, his legal deputy said Sunday.

Ahmadinejad last week dismissed oil minister Massoud Mirkazemi and took over the ministry himself, which would have also made him rotating chairman at June's OPEC meeting in Vienna.

But Iran's constitutional watchdog, the Guardian Council, rejected the plan as illegal and said that Ahmadinejad could not run the Oil Ministry as caretaker.

The president's legal deputy, Fatemeh Bodaghi, told ISNA news agency that the decision has already been made, as the Guardian Council could only decide on decisions to be made but not on those already been made. Therefore, Ahmadinejad would remain caretaker of the ministry, she said.

Ahmadinejad had argued that he planned to trim the cabinet, and one of his decisions was to abolish the Oil Ministry and merge it with the Energy Ministry. The plan led to wide-spread criticism in Parliament.

Ahmadinejad is involved in a row with Iran's clergy and conservative factions over his reform plans, which include reducing the cabinet from 21 to 17 ministries.

As caretaker of the Oil Ministry, Ahmadinejad would also chair the OPEC meeting next month in Vienna, where protests against the Iranian president are reportedly being planned.

Copyright (c) 2011, dpa, Berlin

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Iran Constitutional Watchdog Says President Cannot Run Oil Ministry

- Iran Constitutional Watchdog Says President Cannot Run Oil Ministry

Friday, May 20, 2011
Deutsche Presse-Agentur (dpa)

Iran's constitutional watchdog, the Guardian Council, has said that President Mahmoud Ahmadinejad cannot run the Oil Ministry as caretaker, the Fars news agency reported Friday.

Ahmadinejad last week dismissed his oil minister Massoud Mirkazemi and took over the ministry himself, which would have also made him rotating chairman at June's OPEC meeting in Vienna.

The president argued that he planned to trim the cabinet and one of his decisions was to abolish the Oil Ministry and merge it with the Energy Ministry.

The decision caused widespread criticism in Iran and eventually the Guardian Council, which overseas the compliance of governmental and parliamentary decisions with the constitution, rejected the plan as illegal.

Ahmadinejad is involved in a row with the country's clergy and conservative factions over his reform plans, which include reducing the cabinet from 21 ministries to 17.

But the main reason for the disputes is the president's s chief of staff, Esfandiar Rahim-Mashaei, whose daughter is married to Ahmadinejad's son.

Mashaei is said to oppose the clergy-dominated framework of the Islamic republic's establishment and favors of a more nationalist approach to running the country.

Ahmadinejad has also been criticized for having so far supported Mashaei and effectively joined him in undermining the Islamic system.

The president denied the accusation in a televised interview but observers believe that the crisis would continue as long as Mashaei acts as the president's close adviser.

Since the 1979 Islamic revolution, Iran has been ruled under the Vali Faqih system, in which one senior cleric at ayatollah level has, according to the constitution, the final say on all state affairs and can even veto decisions by the president.

The supreme leadership has been in the hands of Ayatollah Ali Khamenei since 1989. Ahmadinejad has been criticized by several some clergy for allegedly having disobeyed Khamenei's order over reinstating the country's intelligence chief who was fired by the president.


Copyright 2011 dpa Deutsche Presse-Agentur GmbH

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