DOCSLIB.ORG

UK Offshore Oil and Gas

Total Page：16

File Type：pdf, Size：1020Kb

Download full-text PDF Read full-text
UK Offshore Oil and Gas House of Commons Energy and Climate Change Committee UK offshore oil and gas First Report of Session 2008–09 Volume II Oral and written evidence Ordered by The House of Commons to be printed date 17 June 2009 HC 341-II Published on date 30 June 2009 by authority of the House of Commons London: The Stationery Office Limited £16.50 The Committee Name The Energy and Climate Change Committee is appointed by the House of Commons to examine the expenditure, administration, and policy of the Department of Energy and Climate Change and associated public bodies. Current membership Mr Elliot Morley MP (Labour, Scunthorpe) (Chairman) Mr David Anderson MP (Labour, Blaydon) Colin Challen MP (Labour, Morley and Rothwell) Nadine Dorries MP (Conservative, Mid Bedfordshire) Charles Hendry MP (Conservative, Wealden) Miss Julie Kirkbride MP (Conservative, Bromsgrove) Anne Main MP (Conservative, St Albans) Judy Mallaber MP (Labour, Amber Valley) John Robertson MP (Labour, Glasgow North West) Sir Robert Smith MP (Liberal Democrats, West Aberdeenshire and Kincardine) Paddy Tipping MP (Labour, Sherwood) Dr Desmond Turner MP (Labour, Brighton Kemptown) Mr Mike Weir MP (Scottish National Party, Angus) Dr Alan Whitehead MP (Labour, Southampton Test) Powers The committee is one of the departmental select committees, the powers of which are set out in House of Commons Standing Orders, principally in SO No 152. These are available on the Internet via www.parliament.uk. Publication The Reports and evidence of the Committee are published by The Stationery Office by Order of the House. All publications of the Committee (including press notices) are on the Internet at www.parliament.uk/parliamentary_committees/ecc.cfm. Committee staff The current staff of the Committee are Tom Goldsmith (Clerk), Robert Cope (Second Clerk), Francene Graham (Senior Committee Assistant) Luisa Porritt (Committee Assistant) and Estelita Manalo, (Office Support Assistant) and Hannah Pearce (Media Officer). Contacts All correspondence should be addressed to the Clerks of the Energy and Climate Change Committee, House of Commons, 7 Millbank, London SW1P 3JA. The telephone number for general enquiries is 020 7219 2569; the Committee’s email address is [email protected] Witnesses Wednesday 11 March 2009 Page Steve Jenkins, Chairman, Oil and Gas Independents’ Association, Alan Ev 1 Booth, Chief Executive Officer, Encore Oil, Martyn Millwood Hargrave, Chief Executive Officer, Ikon Science Martyn Harper, Head of Sustainable Development and Dr Sharon Ev 9 Thompson, Senior Marine Policy Officer, Royal Society for the Protection of Birds Thursday 19 March 2009 Professor Alexander Kemp, University of Aberdeen Ev 16 Malcolm Webb, Chief Executive and Paul Dymond, Operations Director, Oil Ev 22 and Gas UK Wednesday 25 March 2009 Mike O’Brien MP, Minister of State, Simon Toole, Head of the Energy Ev 32 Development Unit Licensing, Exploration and Development, and Jim Campbell, Director of the Energy Development, Department of Energy and Climate Change List of written evidence 1 ABB Ev 45 2 AMEC Ev 47,49 3 BG Group Ev 50 4 BP Ev 54,56 5 British Rig Owners’ Association Ev 57 6 Carbon Capture and Storage Association (CCSA) Ev 60 7 Centrica Ev 60, 64 8 Department of Energy and Climate Change Ev 66, 83,84 9 Joint Nature Conservation Committee Ev 91 10 Professor Alexander Kemp Ev 93 11 Oil and Gas Independents’ Association (OGIA) Ev 101,104,107 12 Oil and Gas UK Ev 108, 115 13 Royal Society for the Protection of Birds (RSPB) Ev118 14 Scottish Council for Development and Industry (SCDI) Ev 121 15 Shell Ev 129,133 16 Total Ev 134 Energy and Climate Change Committee: Evidence Ev 1 Oral evidence Taken before the Energy and Climate Change Committee on Wednesday 11 March 2009 Members present: Mr Elliot Morley, in the Chair Nadine Dorries Paddy Tipping Miss Julie Kirkbride Dr Desmond Turner Anne Main Mr Mike Weir Sir Robert Smith Dr Alan Whitehead Witnesses: Mr Steve Jenkins, Chairman, Mr Alan Booth, Chief Executive OYcer, Encore Oil, and Mr Martyn Millwood Hargrave, Chief Executive OYcer, Ikon Science, Oil and Gas Independents’ Association, gave evidence. Q1 Chairman: Good morning, gentlemen, welcome Mr Jenkins: They are largely due on discoveries, and to the Select Committee for Energy and Climate also an estimation from the geology and geophysics Change. We are pleased to see you. As you know, we of what prospects might contain. We risk those are having an inquiry into oil and gas reserves in the prospects, and those are the risk numbers that are North Sea and west of Shetland, and we very much being quoted—but really it is less than 10 billion welcome your evidence. For the benefit of the barrels it has got commercial plans to develop. Committee would you say a word about who you are and your role in the organisation? Mr Jenkins: I am Chairman of the Oil and Gas Q4 Chairman: What are the restraints on those Independents’ Association. We have got commercial developments? Is it the price of oil; is it approximately 30 members. It is the smaller the overall costs of the exploration; or is it the companies in the UK, mostly non-producers. We technical challenges? have representatives from foreign companies who Mr Jenkins: Currently,we are faced with a very high- have UK subsidiaries operating here. We are mostly cost environment. The North Sea is a very high-cost interested in the exploration and appraisal. Some of environment to work in. We have got prevailing our members are developing hydrocarbons but most costs from last year, when oil was $147 a barrel; and are appraising and developing. those costs as far as drilling is concerned, have not come down yet. We are still looking at perhaps Mr Booth: I am Alan Booth, a director of the Oil and $400,000 a day for a rig. We are seeing some coming Gas Independents’ Association and also the CEO of down, but most of those are long-term contracts. a small UK oil and gas exploration company called Companies such as ours rely on taking one or two rig Encore, which we established in 2005. slots to drill, and we are having to pay very high Mr Millwood Hargrave: I am Martyn Millwood prices for that. As far as development is concerned, it Hargrave. I am a member of the OGIA. I run a is access to infrastructure—the UKCS infrastructure company called Ikon Science, which is a technology with EAG. It was not designed to last this long and provider and service provider to the business, so from a smaller company point of view we have to get really representing that part of the business. access to that infrastructure, to put the oil in to bring it ashore. Q2 Chairman: Thank you very much. If I could kick Mr Booth: If I could add to some of Steven’s oV, gentlemen, it was very interesting to look at comments, the main issue, as you quite rightly point some of the suggestions about what could be out, is the price of oil, which is a global commodity available within the Continental Shelf in terms of oil and is the same pretty much around the world. What and gas. Presumably, over the years there has been a is specific to the UK increasingly, in terms of finding certain degree of work done on mapping and seismic these new reserves, is access to capital to explore for analysis; how much confidence do you have in terms them. We have put in our submission that the nature of what you know is on the Shelf, both in terms of of the companies prepared to explore has changed your current reserves and also the potential for the significantly, simply because of the nature of the future? basin. We are of course reliant on getting equity from Mr Jenkins: At the minute we have less than nine the capital markets now, and when we do find things billion barrels that have got commercial plans to getting debt, debt markets—and, as you know, that Y develop. You probably have heard numbers of up to is very di cult at the moment. What all investors 25 billion barrels. like to see is stability and predictability in any regime in which they invest. The UK has not always been an area where they have had a great degree of comfort. Q3 Chairman: Yes, quite significant numbers, yes, in The oil price is obviously very important, but it is some of the briefings, yes. about access to infrastructure when you do find Ev 2 Energy and Climate Change Committee: Evidence 11 March 2009 Mr Steve Jenkins, Mr Alan Booth and Mr Martyn Millwood Hargrave hydrocarbons. Your investors want to know that if is not really why it was put in place, but that is the you find them you can develop them, and they are nature of—a direct example of what is happening going to get a return for the risk they take. Those are right now. the principal issues that drive activity here. Q9 Chairman: If there were going to be some changes to this code, what would be your priority? Q5 Sir Robert Smith: I must first declare my interest: Mr Booth: I think you have to understand before as a shareholder in Shell, which is in the Register of you start exploring for hydrocarbons and wanting to Members’ Interests; and Vice Chair of the All-Party develop and appraise hydrocarbon accumulations, Group for the OVshore Oil and Gas Industry. In that what the terms and conditions will be to go across role, we went on an oVshore northern seas visit, and that infrastructure. What you do not want to do is accommodation was sponsored by various oil find your hydrocarbons and then you find someone companies.
Load more

Recommended publications
  • Offshore Wind and Hydrogen: Solving the Integration Challenge
    OFFSHORE WIND AND HYDROGEN SOLVING THE INTEGRATION CHALLENGE OSW-H2: SOLVING THE INTEGRATION CHALLENGE 1 ACKNOWLEDGMENTS The study was jointly supported by the Offshore Wind Industry Council (OWIC) and Offshore Renewable Energy (ORE) Catapult, and delivered by ORE Catapult. The Offshore Wind Industry Council is a senior Government and industry forum established in 2013 to drive the development of the UK’s world- leading offshore wind sector. OWIC is responsible for overseeing implementation of the UK Offshore Wind Industrial Strategy. ORE Catapult is a not-for-profit research organisation, established in 2013 by the UK Government as one of a network of Catapults in high growth industries. It is the UK’s leading innovation centre for offshore renewable energy and helps to create UK economic benefit in the sector by helping to reduce the cost of offshore renewable energy, and support the growth of the industry. AUTHORS: ANGELIKI SPYROUDI KACPER STEFANIAK DAVID WALLACE STEPHANIE MANN GAVIN SMART ZEYNEP KURBAN The authors would like to thank a number of organisations and stakeholders for their support through Steering Committee and Expert Group meetings or individually. They include, in alphabetical order: Atkins (David Cole), BEIS (Tasnim Choudhury, Simone Cooper Searle, David Curran, Rose Galloway – Green, Fiona Mettam, Alan Morgan, Allan Taylor, Mark Taylor, Rita Wadey, Alex Weir) Committee on Climate Change (Mike Hemsley, David Joffe, Julia King), Crown Estate Scotland (Mark McKean), EDF Energy (David Acres), Energy Systems Catapult (Nick
    [Show full text]
  • Not for Quotation Without Permission of the Author
    NOT FOR QUOTATION WITHOUT PERMISSION OF THE AUTHOR DECISION CASE STUDY UNITED KINGDOM MOSSMORRAN-BWFOOT BAY Sally M. Macgill July 1982 CP-82- 4 0 Collaborative Papers report work which has not been performed solely at the International Institute for Applied Systems Analysis and which has received only limited review. Views or opinions expressed herein do not necessarily represent those of the Insti- tute, its National Member Organizations, or other organizations supporting the work. INTERNATIONAL INSTITUTE FOR APPLIED SYSTEMS ANALYSIS 2361 Laxenburg, Austria CONTENTS CHAPTER 1 : INTRODUCTION 1.1. Perspective 1.2. Status of Report 1.3. Outline CHAPTER 2 : THE DECISION STRUCTURE 2.1. Context for the Developments 2.2. Site Choice 2.3. The Main Parties to the Decision 2.4. The Main Events in the Decision Process CHAPTER 3: THE DIMENSIONS OF THE DECISION 3.1. Statement of Dimensions 3.2. National Benefits 3.3. Local Socio-Economic Benefits 3.4. Health and Safety Aspects 3.5. Environmental Impacts CHAPTER 4 : PARTY PERSPECTIVES ON VARIOUS DIMENSIONS 4.1. Overview of Conflicts 4.2. The Oil Companies: Shell and Esso 4.2.1. National Benefits 4.2.2. Local Socio-Economic Benefits 4.2.3. Health and Safety 4.2.4. Environment 4.3. The Scottish Development Department 4.4. Departments of Energy and Industry 4.5. The Local Authorities: Fife, Dunfermline and Kirkcaldy 4.5.1. National Benefits 4.5.2. Local Socio-Economic Effects 4.5.3. Health and Safety 4.5.4. Environment 4.6. The Forth Ports Authority 4.7. The Health and Safety Executive 4.8.
    [Show full text]
  • Norwegian Petroleum Technology a Success Story ISBN 82-7719-051-4 Printing: 2005
    Norwegian Academy of Technological Sciences Offshore Media Group Norwegian Petroleum Technology A success story ISBN 82-7719-051-4 Printing: 2005 Publisher: Norwegian Academy of Technological Sciences (NTVA) in co-operation with Offshore Media Group and INTSOK. Editor: Helge Keilen Journalists: Åse Pauline Thirud Stein Arve Tjelta Webproducer: Erlend Keilen Graphic production: Merkur-Trykk AS Norwegian Academy of Technological Sciences (NTVA) is an independent academy. The objectives of the academy are to: – promote research, education and development within the technological and natural sciences – stimulate international co-operation within the fields of technology and related fields – promote understanding of technology and natural sciences among authorities and the public to the benefit of the Norwegian society and industrial progress in Norway. Offshore Media Group (OMG) is an independent publishing house specialising in oil and energy. OMG was established in 1982 and publishes the magazine Offshore & Energy, two daily news services (www.offshore.no and www.oilport.net) and arranges several petro- leum and energy based conferences. The entire content of this book can be downloaded from www.oilport.net. No part of this publication may be reproduced in any form, in electronic retrieval systems or otherwise, without the prior written permission of the publisher. Publisher address: NTVA Lerchendahl gaard, NO-7491 TRONDHEIM, Norway. Tel: + (47) 73595463 Fax: + (47) 73590830 e-mail: [email protected] Front page illustration: FMC Technologies. Preface In many ways, the Norwegian petroleum industry is an eco- passing $ 160 billion, and political leaders in resource rich nomic and technological fairy tale. In the course of a little oil countries are looking to Norway for inspiration and more than 30 years Norway has developed a petroleum guidance.
    [Show full text]
  • Guide to the American Petroleum Institute Photograph and Film Collection, 1860S-1980S
    Guide to the American Petroleum Institute Photograph and Film Collection, 1860s-1980s NMAH.AC.0711 Bob Ageton (volunteer) and Kelly Gaberlavage (intern), August 2004 and May 2006; supervised by Alison L. Oswald, archivist. August 2004 and May 2006 Archives Center, National Museum of American History P.O. Box 37012 Suite 1100, MRC 601 Washington, D.C. 20013-7012 [email protected] http://americanhistory.si.edu/archives Table of Contents Collection Overview ........................................................................................................ 1 Administrative Information .............................................................................................. 1 Arrangement..................................................................................................................... 3 Biographical / Historical.................................................................................................... 2 Scope and Contents........................................................................................................ 2 Names and Subjects ...................................................................................................... 4 Container Listing ............................................................................................................. 6 Series 1: Historical Photographs, 1850s-1950s....................................................... 6 Series 2: Modern Photographs, 1960s-1980s........................................................ 75 Series 3: Miscellaneous
    [Show full text]
  • The DA GHGI Improvement Programme 2009-2010 Industry Sector Task
    The DA GHGI Improvement Programme 2009-2010 Industry Sector Task DECC, The Scottish Government, The Welsh Assembly Government and the Northern Ireland Department of the Environment AEAT/ENV/R/2990_3 Issue 1 May 2010 DA GHGI Improvements 2009-2010: Industry Task Restricted – Commercial AEAT/ENV/R/2990_3 Title The DA GHGI Improvement Programme 2009-2010: Industry Sector Task Customer DECC, The Scottish Government, The Welsh Assembly Government and the Northern Ireland Department of the Environment Customer reference NAEI Framework Agreement/DA GHGI Improvement Programme Confidentiality, Crown Copyright copyright and reproduction File reference 45322/2008/CD6774/GT Reference number AEAT/ENV/R/2990_3 /Issue 1 AEA Group 329 Harwell Didcot Oxfordshire OX11 0QJ Tel.: 0870 190 6584 AEA is a business name of AEA Technology plc AEA is certificated to ISO9001 and ISO14001 Authors Name Stuart Sneddon and Glen Thistlethwaite Approved by Name Neil Passant Signature Date 20th May 2010 ii AEA Restricted – Commercial DA GHGI Improvements 2009-2010: Industry Task AEAT/ENV/R/2990_3 Executive Summary This research has been commissioned under the UK and DA GHG inventory improvement programme, and aims to research emissions data for a group of source sectors and specific sites where uncertainties have been identified in the scope and accuracy of available source data. Primarily this research aims to review site-specific data and regulatory information, to resolve differences between GHG data reported across different emission reporting mechanisms. The research has comprised: 1) Data review from different reporting mechanisms (IPPC, EU ETS and EEMS) to identify priority sites (primarily oil & gas terminals, refineries and petrochemicals), i.e.
    [Show full text]
  • Ormen Lange and Nyhamna Expansion the Ormen Lange Story
    ORMEN LANGE AND NYHAMNA EXPANSION THE ORMEN LANGE STORY 2001 PHASE 1 – DEVELOPMENT OF ORMEN LANGE AND NYHAMNA 2002 Nyhamna is selected as the land facility for the Ormen Lange gas. 2003 Start up of development offshore and onshore 2004 - the bigges ever industry project in Norwegian history. 2005 West Navigator starts drilling the world’s largest gas wells. 2006 Shell takes over as operator of Ormen Lange. First gas. 2007 PHASE 2 – ORMEN LANGE IN OPERATION 2008 First full year of operation. More wells are drilled. Tuning of the facility optimises production. First hot tap and x-mas tree installation from vessel instead of rig. 2009 2010 A fourth well template is installed north 2011 on the field. Start-up of subsea compression test pilot. 2012 PHASE 3 – FURTHER DEVELOPMENT AND EXPANSION OF NYHAMNA 2013 Start of the Nyhamna expansion project. Further development of Ormen Lange includes drilling of more wells, exploration of near field opportunities and seismic 2014 surveys. Photo: Lars Øvrum IMPORTANT FOR EUROPE. Ormen Lange exports natural gas to Europe, and has covered about 20 per cent of the UK’s total gas consumption since 2009. 20% Stable and reliable gas supply from Norway is important for ORMEN LANGE SUPPLIES EU countries that want improved utilisation of nearby resources THE UK WITH UP TO 20 PER - thereby reducing their dependency on gas import from outside CENT OF THE COUNTRY’S Europe. GAS NEEDS When the expansion project at Nyhamna is completed, the facility will be able to deliver gas equivalent to the consumption of 22 million homes in the UK and continental Europe.
    [Show full text]
  • Fife Ethylene Plant, Mossmorran, United Kingdom
    APPLICATION INFORMATION N° 301 CHEMICAL & PETROCHEMICAL INDUSTRY Fife Ethylene Plant, Mossmorran, United Kingdom SIL 3 Capable Market segment: Chemical & Petrochemical Industry Ethylen-Cracker ExxonMobil Chemical's Fife Ethylene Plant (FEP) is one of Europe's largest and most modern ethylene plants. Construction at Mossmorran, 25 miles north of Edinburgh, began in 1981 and the plant was offi cially opened by the Queen in 1986. It was the fi rst plant specifi cally designed to use natural gas liquids from the North Sea as feedstock. The plant has an annual capacity of 830’000 tons of ethylene. To make ethylene, ethane feedstock is heated to almost 900°C to 'crack' it to eth- ylene in the steam cracking furnaces. The gas stream is then cooled to below -160°C to recover the valuable ethylene product. 2 high and 1 high high alarm Requirement for level switches Why Trimod Besta? ▪ Hazardous area. Zone 0 for fl oats Bachofen offers level switches for appli- ▪ Intrinsically safe circuits, gold plated contacts cations from -200°C to +400°C and from vacuum to 320 bar process pressure. High ▪ Operating temperature To: -160°C to +320°C ▪ Min. Density: 0.4 kg/dm3 reliability, an unbeatable life time as well as ▪ Interface control of 2 liquids (e.g. oil and water) long lasting experience in handling ambi- ▪ Extremely high reliability of switch mechanism tious projects were further arguments for ▪ Manufacturing of complex fl oat chambers incl. welding procedure the contractor to choose Trimod Besta level specifi cation switches and fl oat chambers. Installed level switch types Totally 114 Trimod Besta level switches and 110 fl oat chambers are installed in the hot (400°C) and in the cold (-160°C) part of the ethylene production process.
    [Show full text]
  • Norwegian Experience As a Promising Measure for the Russian Energy System Development
    International Journal of Energy Economics and Policy ISSN: 2146-4553 available at http: www.econjournals.com International Journal of Energy Economics and Policy, 2017, 7(3), 31-35. Norwegian Experience as a Promising Measure for the Russian Energy System Development Elena S. Balashova1, Elizaveta A. Gromova2* 1Peter the Great St. Petersburg Polytechnic University, Saint-Petersburg, Russia, 2Peter the Great St. Petersburg Polytechnic University, Saint-Petersburg, Russia. *Email: [email protected] ABSTRACT At the moment, Arctic is in the interest of many countries, and not only near the Arctic. A high degree of the region promising in the context of undiscovered oil and gas resources is the explanation for it. Russia possessing the most significant share of these reserves has a fairly low rate of investigation of the Arctic shelf. Arctic hydrocarbon resources occupy the important strategic place in the development of the fuel-energy complex of Russia, ensuring its energy security. Hence, the goal of this research is to identify effective model of the offshore fields development in the Arctic zone of the Russian Federation. The Norwegian model of formation of consortia for the development of the offshore fields is analyzed and it is examined in the context of the Russian Arctic. The effectiveness of the introduction of this model in Russia is proved. Keywords: Consortium, Energy System, Arctic Shelf, Arctic Zone of the Russian Federation JEL Classifications: Q43, Q48, R11 1. INTRODUCTION Ormen Lange (Norway) have already been identified. In addition, the prospects of the oil and gas potential of other less studied In recent years, the issues of exploration and exploitation areas of the Arctic shelf were confirmed.
    [Show full text]
  • SUBC Q2 2021 Presentation
    Second Quarter 2021 Earnings Presentation 28 July 2021 1 © Subsea 7 - 2021 subsea7.com Forward looking statements • This document may contain ‘forward-looking statements’ (within the meaning of the safe harbour provisions of the U.S. Private Securities Litigation Reform Act of 1995). These statements relate to our current expectations, beliefs, intentions, assumptions or strategies regarding the future and are subject to known and unknown risks that could cause actual results, performance or events to differ materially from those expressed or implied in these statements. Forward-looking statements may be identified by the use of words such as ‘anticipate’, ‘believe’, ‘estimate’, ‘expect’, ‘future’, ‘goal’, ‘intend’, ‘likely’ ‘may’, ‘plan’, ‘project’, ‘seek’, ‘should’, ‘strategy’ ‘will’, and similar expressions. The principal risks which could affect future operations of the Group are described in the ‘Risk Management’ section of the Group’s Annual Report and Consolidated Financial Statements for the year ended 31 December 2020. Factors that may cause actual and future results and trends to differ materially from our forward-looking statements include (but are not limited to): (i) our ability to deliver fixed price projects in accordance with client expectations and within the parameters of our bids, and to avoid cost overruns; (ii) our ability to collect receivables, negotiate variation orders and collect the related revenue; (iii) our ability to recover costs on significant projects; (iv) capital expenditure by oil and gas companies,
    [Show full text]
  • The Future of UK
    NEW CHALLENGES FOR UK NATURAL GAS Steve R Jackson, Adrian J Finn & Terry R Tomlinson Costain Oil, Gas & Process Limited Manchester, United Kingdom ABSTRACT The United Kingdom’s self-sufficiency in natural gas has rapidly declined and for the first time the UK has become a net importer of natural gas. Dependence on imported natural gas is set to increase significantly. Some forecasts show the UK may need to import up to 40% of supplies by 2010 and up to 90% by 2020. Winter gas prices are now a factor of 10 higher than 4 years ago and this is seriously impacting big industrial consumers such as ammonia producers and power generators. At present, the main projected increase in imported gas is from Norway, mainly via the Langeled pipeline which landfalls in north-east England (carrying gas from the giant Ormen-Lange development by 2007/8) and from Europe via the existing Zeebrugge-Bacton Interconnector and the Balgzand-Bacton pipeline (operational by 2007). The latter two lines will link the UK with the European gas grid and may open up potential supply sources from the Former Soviet Union (FSU). Several LNG import terminal projects have been undertaken. The first to be completed is on the Isle of Grain near London, which commenced LNG imports during 2005. Two further LNG import terminals, Dragon and South Hook, are under construction at Milford Haven in Wales but will not be fully operational form some years. A further potential development is the upgrade of the former LNG import terminal at Canvey Island, near London.
    [Show full text]
  • 2013 Financial and Operating Review
    Financial & Operating Review 2 013 Financial & Operating Summary 1 Delivering Profitable Growth 3 Global Operations 14 Upstream 16 Downstream 58 Chemical 72 Financial Information 82 Frequently Used Terms 90 Index 94 General Information 95 COVER PHOTO: Liquefied natural gas (LNG) produced at our joint ventures with Qatar Petroleum is transported to global markets at constant temperature and pressure by dedicated carriers designed and built to meet the most rigorous safety standards. Statements of future events or conditions in this report, including projections, targets, expectations, estimates, and business plans, are forward-looking statements. Actual future results, including demand growth and energy mix; capacity growth; the impact of new technologies; capital expenditures; project plans, dates, costs, and capacities; resource additions, production rates, and resource recoveries; efficiency gains; cost savings; product sales; and financial results could differ materially due to, for example, changes in oil and gas prices or other market conditions affecting the oil and gas industry; reservoir performance; timely completion of development projects; war and other political or security disturbances; changes in law or government regulation; the actions of competitors and customers; unexpected technological developments; general economic conditions, including the occurrence and duration of economic recessions; the outcome of commercial negotiations; unforeseen technical difficulties; unanticipated operational disruptions; and other factors discussed in this report and in Item 1A of ExxonMobil’s most recent Form 10-K. Definitions of certain financial and operating measures and other terms used in this report are contained in the section titled “Frequently Used Terms” on pages 90 through 93. In the case of financial measures, the definitions also include information required by SEC Regulation G.
    [Show full text]
  • Decision Case Study: United Kingdom, Mossmorran-Braefoot Bay
    Decision Case Study: United Kingdom, Mossmorran-Braefoot Bay Macgill, S.M. IIASA Collaborative Paper July 1982 Macgill, S.M. (1982) Decision Case Study: United Kingdom, Mossmorran-Braefoot Bay. IIASA Collaborative Paper. Copyright © July 1982 by the author(s). http://pure.iiasa.ac.at/2078/ All rights reserved. Permission to make digital or hard copies of all or part of this work for personal or classroom use is granted without fee provided that copies are not made or distributed for profit or commercial advantage. All copies must bear this notice and the full citation on the first page. For other purposes, to republish, to post on servers or to redistribute to lists, permission must be sought by contacting [email protected] NOT FOR QUOTATION WITHOUT PERMISSION OF THE AUTHOR DECISION CASE STUDY UNITED KINGDOM MOSSMORRAN-BWFOOT BAY Sally M. Macgill July 1982 CP-82- 4 0 Collaborative Papers report work which has not been performed solely at the International Institute for Applied Systems Analysis and which has received only limited review. Views or opinions expressed herein do not necessarily represent those of the Insti- tute, its National Member Organizations, or other organizations supporting the work. INTERNATIONAL INSTITUTE FOR APPLIED SYSTEMS ANALYSIS 2361 Laxenburg, Austria CONTENTS CHAPTER 1 : INTRODUCTION 1.1. Perspective 1.2. Status of Report 1.3. Outline CHAPTER 2 : THE DECISION STRUCTURE 2.1. Context for the Developments 2.2. Site Choice 2.3. The Main Parties to the Decision 2.4. The Main Events in the Decision Process CHAPTER 3: THE DIMENSIONS OF THE DECISION 3.1.
    [Show full text]