DOCSLIB.ORG

Providing Creative Solutions Through the Energy Transition Enquest Plcenquest

Total Page：16

File Type：pdf, Size：1020Kb

Download full-text PDF Read full-text
Providing Creative Solutions Through the Energy Transition Enquest Plcenquest Providing creative solutions through the energy transition EnQuest PLC EnQuest PLC Annual Report and Accounts 2020 Annual Report and Accounts 2020 Our purpose Contents STRATEGIC REPORT 01 Highlights Providing creative 02 Stakeholder engagement 04 Key performance indicators 06 Our purpose solutions through the 08 Protecting our people 10 Chairman’s statement 12 Chief Executive’s report energy transition 16 Transforming our business 18 Operating review 24 Reserves and resources 25 Hydrocarbon assets 26 Financial review Our strategy 32 Environmental, Social and Governance EnQuest’s strategic vision is to be the operator 34 A responsible operator 38 Our people and communities of choice for maturing and underdeveloped 46 Robust risk management hydrocarbon assets by focusing on operational framework 60 Business conduct excellence, differential capability, value enhancement 61 Task Force on Climate-related and financial discipline. Financial Disclosures CORPORATE GOVERNANCE 64 Board of Directors 66 Executive Committee 68 Chairman’s letter Our business model 70 Corporate governance statement 75 Audit committee report STRATEGIC 82 Directors’ remuneration report PILLARS 102 Governance and nomination BUSINESS committee report CE FOCUS D N DR I 105 Safety, climate and risk E IL FF LL BUSINESS LI E E MODEL N R committee report C S G E X T A N 107 Technical and reserves E E N T S I L S D A committee report A L A S N E U C 109 Directors’ report O A I R B T U - P S A A T E B R A A FINANCIAL STATEMENTS E I L M T P I T 114 Statement of Directors’ I O E Y - Responsibilities for the Group Deliver B A Financial Statements C K 115 Independent Auditor’s Report S to the Members of EnQuest PLC 125 Group Income Statement 126 Group Balance Sheet 127 Group Statement of Changes De-lever Grow in Equity F 128 Group Statement of Cash Flows I N T 129 Notes to the Group Financial A N N E Statements C M IA E 169 Statement of Directors’ L C D N Responsibilities for the Parent IS A C H Company Financial Statements I EN PL DE T E 170 Company Balance Sheet IN VELOPMEN LU E VA 171 Company Statement of Changes in Equity 172 Notes to the Financial Statements Read more See pages 01, 176 Glossary – Non-GAAP measures 06 to 07, 10 to 179 Company information 23 and 26-33 Strategic report Corporate governance Financial statements Highlights 2020 performance 2021 outlook3 EnQuest’s quick and decisive actions in early 2020 have transformed the Company, Net production Net production range materially lowering its cost base and free (Boepd) (Boepd) cash flow breakeven1. Production for the year was in line with guidance, reflecting a better than expected performance at Kraken offset by lower production in c. Malaysia, while operating and capital 59,116 46,000 expenditures were reduced by $296 million. Free cash flow generation of $211 million -14% to was strong, facilitating a further reduction 52,000 in net debt. Business performance gross 1 profit of $71.4 million was 84.8% lower than Unit opex Operating expenditure 2019, primarily reflecting lower market prices ($/Boe) ($ million) for oil. The Group recorded a Business performance loss before finance costs and tax of $20 million, reflecting the c. increased non-cash decommissioning 15 265 provision for fully impaired assets. The proposed acquisition of the Golden -26% Eagle assets in the UK North Sea will strengthen the business, adding material 1 EBITDA Cash capital and low-cost production and cash flows. ($ million) abandonment expenditure ($ million) 551 c.120 -45% Free cash flow breakeven2 Read more ($/Boe) See pages 04, 10 to 23 and 26 to 31 32 -35% 2020 2019 Change 2020 statutory reporting metrics $m $m % Revenue and other operating income 865.6 1,646.5 (47.4) Profit/(loss) before tax (566.0) (729.1) 22.4 Basic earnings/(loss) per share (cents) (37.8) (27.4) (38.0) Net cash flow from operating activities 522.1 962.3 (45.7) Net assets/(liabilities) (64.6) 559.1 (114.0) Notes: 1 See reconciliation of alternative performance measures within the ‘Glossary – Non-GAAP measures’ starting on page 176 2 Based on the Group’s aggregate cash outflows prior to any debt repayments and $37.3 million of Magnus-related third-party gas purchases divided by net working interest production 3 Based on the Group’s existing portfolio This Strategic report includes details of EnQuest’s strategy, business model, capabilities, Values, performance and key risks. The Group’s performance since the last Annual Report and current outlook is covered within the Chairman’s statement, the Chief Executive’s report, the Operating and Financial reviews and the Environmental, Social and Governance section. Unless otherwise stated, all figures quoted in the Strategic report are on a Business performance basis and are in US Dollars. EnQuest PLC Annual Report and Accounts 2020 01 Stakeholder engagement Direct Board-level Section 172 Stakeholder Why they are important engagement in 2020 Other 2020 activities A. Workforce Our employee and contractor workforce is critical to Employee forum; video See pages 16 and 17 for an overview of the UK’s Statement the delivery of SAFE Results and EnQuest’s success. messages; subject matter Transformation 2020 programme and pages 38 to As such, we are committed to ensuring EnQuest expert virtual attendance at 43 of the ESG section which detail the various The Directors have always had regard remains a great place to work. We have a strong set Board and Board Committee people-related initiatives implemented during the for the potential impact of the Group’s of Values that underpin our way of working and are meetings; physical and virtual year, including the employee survey results and our activities on its various stakeholders. dedicated to delivering SAFE Results. We provide a safety leadership people’s safety and wellbeing, particularly in relation rewarding work environment, with opportunities for engagement visits, corporate to the asset integrity issues faced in 2020, combined In the majority of cases, information growth and learning while contributing to the purpose evolution; and with the dual impacts of EnQuest’s response to and feedback are provided delivery of our strategy. interactive virtual town halls. COVID-19 (also see pages 08 to 09) and the UK throughout the year to the Directors Transformation programme. by the Group’s Executive Directors, B. Investors Our investors support management in the execution Virtual meetings, calls and See the Strategic report on pages 01 to 63 which senior and functional management of EnQuest’s business strategy, including the direct correspondence in explains the Company’s performance and and external advisers through a provision of capital for management to develop relation to the Group’s investment decisions during 2020. variety of Board reports, presentations the business in order to deliver returns in a financial and operating Page 72 of the Corporate governance statement responsible manner. performance, purpose outlines how the Group engages with its investors. and ad hoc correspondence. When statement, ESG philosophy, appropriate, the Directors may advise emissions reduction targets further engagement is required, and the Group’s proposed which could potentially be direct Remuneration Policy updates. engagement by the relevant Director, C. Partners We collaborate with our joint venture partners, None. The Group has regular engagement with its joint and/or request additional information securing their support to deliver our asset plans. We venture partners on day-to-day asset management to ensure they have a full value their contribution to the effective operational and the execution of the longer-term asset strategy. and financial management of our assets as we This occurs through a combination of formal appreciation of a given situation prior deliver on our business strategy. interactions, governed by joint operating agreements, to making any decisions. As such, the and via informal engagement, including sharing of Directors are able to fulfil their duty to relevant industry experience, insights and best practice and/or developing performance promote the long-term success of the improvement initiatives. Company for its stakeholders. See pages 18 to 23 of the Strategic report for further details on operational and financial activities and The Directors consider the items decisions undertaken across our assets. disclosed on the following page to be Joint venture partners are recognised as one of the principal decisions on the basis of Group’s principal risks and uncertainties on page 57. materiality of the incremental impact these are anticipated to have on D. Host EnQuest works closely with the host governments Video meetings and calls with For further details, see pages 08 to 09 for our governments and regulators in the jurisdictions in which it the Oil and Gas Authority in the COVID-19 response which was aligned to a number of stakeholders and/or operates. The Group complies with the necessary UK and Malaysian Petroleum government and regulatory advice, the Strategic the Company. and regulators regulatory requirements, including those related to Management in Malaysia. report on pages 01 to 63 and the Group’s Principal environmental matters such as reducing emissions, Risks and Uncertainties on pages 46 to 59, which to ensure the Company maintains a positive outline EnQuest’s strong relationships with reputation and licence to operate, enabling the governments and regulators. Pages 32, 33 and 63 of effective delivery of the Group’s plans for its existing the ESG section and pages 110 to 113 of the Directors’ portfolio and providing access to appropriate Report outline further details on the Group’s growth opportunities. regulatory compliance activities. E. Suppliers EnQuest relies on its suppliers to provide specialist None.
Load more

Recommended publications
  • Why Mandatory Disclosures Matter for Indonesia Disclosures Matter for Indonesia
    Case Study Why mandatory Why mandatory disclosures matter for Indonesia disclosures matter for Indonesia MELIANA LUMBANTORUAN PWYP INDONESIA CONTEXT PROJECT ACTIVITIES The global transparency wave has reached Indonesia. This project used companies’ mandatory disclosure Initiatives such as the Extractive Industries Transparency from 2014 and 2015, published by companies listed on Initiative (EITI) are bringing more transparency to EU and Norwegian stock exchanges. Through that we Indonesia and the mandatory disclosures laws of the EU found that at least seven of these companies operate in have led to more data on extractive activities in Indonesia Indonesia, i.e. Royal Dutch Shell, British Petroleum (BP), becoming available. But the oil, mining and gas industries BHP Billiton, Premier Oil, TOTAL Oil, the Jardine Matheson are still among the most corrupt sectors and accessing / PT. Astra International Tbk. Their reports were used to relevant data on the amount of production, marketing, find how much was paid by them in 2014 and 2015. Beyond shipment and payment of taxes and other company payments data, we also looked at what other kind of financial liabilities is difficult. information related to the extractive sector are difficult to get in Indonesia. In Indonesia, ranked 90th out of 176 in Transparency International’s Corruption Perception Index 2016, the data from the three EITI reports published so far (between 2009 Table 1 The total value of VALUE OF YEAR (USD) and 2013) is incomplete and out of date. Disclosing data payments disclosure by seven EU companies to COMPANY NAME 2014 2015 will therefore not be enough to ensure accountability. Indonesia’s government The data also needs to used in a meaningful way by a (2014-2015) Statoil 5,158,730 (8,101,737) range of stakeholders, including civil society.
    [Show full text]
  • High Level Framework for Process Safety Management
    High level framework for process safety management IMPORTANT: This file is subject to a licence agreement issued by the Energy Institute, London, UK. All rights reserved. It may only be used in accordance with the licence terms and conditions. It must not be forwarded to, or stored or accessed by, any unauthorised user. Enquiries: e: [email protected] t: +44 (0)207 467 7100 HIGH LEVEL FRAMEWORK FOR PROCESS SAFETY MANAGEMENT 1st edition December 2010 Published by ENERGY INSTITUTE, LONDON The Energy Institute is a professional membership body incorporated by Royal Charter 2003 Registered charity number 1097899 IMPORTANT: This file is subject to a licence agreement issued by the Energy Institute, London, UK. All rights reserved. It may only be used in accordance with the licence terms and conditions. It must not be forwarded to, or stored or accessed by, any unauthorised user. Enquiries: e: [email protected] t: +44 (0)207 467 7100 The Energy Institute (EI) is the leading chartered professional membership body supporting individuals and organisations across the energy industry. With a combined membership of over 13 500 individuals and 300 companies in 100 countries, it provides an independent focal point for the energy community and a powerful voice to engage business and industry, government, academia and the public internationally. As a Royal Charter organisation, the EI offers professional recognition and sustains personal career development through the accreditation and delivery of training courses, conferences and publications and networking opportunities. It also runs a highly valued technical work programme, comprising original independent research and investigations, and the provision of EI technical publications to provide the international industry with information and guidance on key current and future issues.
    [Show full text]
  • View Annual Report
    ANNUAL REPORT & ACCOUNTS 2000 www.premier-oil.com 01 HIGHLIGHTS 26 CORPORATE GOVERNANCE 02 CHAIRMAN’S STATEMENT 28 REPORT OF THE DIRECTORS 04 CHIEF EXECUTIVE’S REVIEW 30 REMUNERATION REPORT 06 OPERATIONAL REVIEW: 34 STATEMENT OF DIRECTORS’ RESPONSIBILITIES 08 Indonesia, Pakistan 34 AUDITORS REPORT 10 West Natuna case study 12 Myanmar, North West Europe, Albania 35 ACCOUNTING POLICIES 14 Yetagun case study 37 CONSOLIDATED PROFIT AND LOSS ACCOUNT 16 FINANCIAL REVIEW 37 CONSOLIDATED STATEMENT OF TOTAL 20 TAKING CARE OF BUSINESS RECOGNISED GAINS AND LOSSES 23 HEALTH & SAFETY 37 GROUP RECONCILIATION OF MOVEMENT IN SHAREHOLDERS’ FUNDS 24 BOARD OF DIRECTORS 38 BALANCE SHEETS 39 CONSOLIDATED CASH FLOW STATEMENT 40 NOTES TO THE ACCOUNTS 58 FIVE YEAR SUMMARY 58 SHAREHOLDER INFORMATION 59 RESERVES 60 LICENCE INTERESTS bcf billion cubic feet boe barrels of oil equivalent boepd barrels of oil equivalent per day bopd barrels of oil per day bpd barrels per day EWT extended well test LIBOR London Inter Bank Offer Rate mboepd thousand barrels of oil equivalent per day mmbbls million barrels mmboe million barrels of oil equivalent mmscfd million standard cubic feet per day NGLs natural gas liquids NGOs Non-Government Organisations tcf trillion cubic feet HIGHLIGHTS IMPROVED FINANCIAL POSITION • Turnover increased by £26.2 million to £115.7 million • Operating profit of £35.2 million for the year • Net profit after tax of £6.1 million • Revolving bank facility successfully re-financed at $250 million MAJOR DEVELOPMENTS ON TRACK • Myanmar – operated $650
    [Show full text]
  • Digest of United Kingdom Energy Statistics 2017
    DIGEST OF UNITED KINGDOM ENERGY STATISTICS 2017 July 2017 This document is available in large print, audio and braille on request. Please email [email protected] with the version you require. Digest of United Kingdom Energy Statistics Enquiries about statistics in this publication should be made to the contact named at the end of the relevant chapter. Brief extracts from this publication may be reproduced provided that the source is fully acknowledged. General enquiries about the publication, and proposals for reproduction of larger extracts, should be addressed to BEIS, at the address given in paragraph XXVIII of the Introduction. The Department for Business, Energy and Industrial Strategy (BEIS) reserves the right to revise or discontinue the text or any table contained in this Digest without prior notice This is a National Statistics publication The United Kingdom Statistics Authority has designated these statistics as National Statistics, in accordance with the Statistics and Registration Service Act 2007 and signifying compliance with the UK Statistics Authority: Code of Practice for Official Statistics. Designation can be broadly interpreted to mean that the statistics: ñ meet identified user needs ONCEñ are well explained and STATISTICSreadily accessible HAVE ñ are produced according to sound methods, and BEENñ are managed impartially DESIGNATEDand objectively in the public interest AS Once statistics have been designated as National Statistics it is a statutory NATIONALrequirement that the Code of Practice S TATISTICSshall continue to be observed IT IS © A Crown copyright 2017 STATUTORY You may re-use this information (not including logos) free of charge in any format or medium, under the terms of the Open Government Licence.
    [Show full text]
  • Good Plant Design and Operation for Onshore Carbon Capture Installations and Onshore Pipelines
    Good plant design and operation for onshore carbon capture installations and onshore pipelines Registered Charity Number 1097899 GOOD PLANT DESIGN AND OPERATION FOR ONSHORE CARBON CAPTURE INSTALLATIONS AND ONSHORE PIPELINES A Recommended Practice Guidance Document First edition September 2010 Published by ENERGY INSTITUTE, LONDON The Energy Institute is a professional membership body incorporated by Royal Charter 2003 Registered charity number 1097899 The Energy Institute (EI) is the leading chartered professional membership body supporting individuals and organisations across the energy industry. With a combined membership of over 13 500 individuals and 300 companies in 100 countries, it provides an independent focal point for the energy community and a powerful voice to engage business and industry, government, academia and the public internationally. As a Royal Charter organisation, the EI offers professional recognition and sustains personal career development through the accreditation and delivery of training courses, conferences and publications and networking opportunities. It also runs a highly valued technical work programme, comprising original independent research and investigations, and the provision of EI technical publications to provide the international industry with information and guidance on key current and future issues. The EI promotes the safe, environmentally responsible and efficient supply and use of energy in all its forms and applications. In fulfilling this purpose the EI addresses the depth and breadth of energy and the energy system, from upstream and downstream hydrocarbons and other primary fuels and renewables, to power generation, transmission and distribution to sustainable development, demand side management and energy efficiency. Offering learning and networking opportunities to support career development, the EI provides a home to all those working in energy, and a scientific and technical reservoir of knowledge for industry.
    [Show full text]
  • Annual Report and Accounts 2018 Repositioned for Growth
    SOCO plc International Annual Report Annual ReportAnnual 2018 and Accounts and Accounts 2018 Repositioned for growth Strategic Report 02 Repositioned for growth Company overview 02 Chair’s welcome 04 Our future is one of new and Investment case 08 Market overview 10 exciting growth opportunities. CEO’s statement 12 Core strategic objectives 16 We are repositioning to enhance Our strategy in action 18 Business model 20 our existing strengths. We are Key metrics 22 Operations review 24 building new relationships and Financial review 32 Risk management 36 are on a positive course for Risks 38 business growth. Corporate Responsibility 44 Governance Report 61 Chair’s Introduction to Governance 62 Board of Directors 66 Corporate Governance Report 68 Nominations Committee Report 72 Audit and Risk Committee Report 76 Remuneration Report 82 Directors’ Report 97 We are an oil and gas exploration and production company. Financial Statements 101 Headquartered in London and listed on the main market of the Independent Auditor’s Report 102 London Stock Exchange, we have exploration, development Consolidated Income Statement 109 and production interests in Vietnam. Consolidated Statement of Comprehensive Income 109 Balance Sheets 110 Statements of Changes in Equity 111 Cash Flow Statements 112 Notes to the Consolidated Financial Statements 113 Additional Information 135 Non-IFRS Measures 136 Five Year Summary 137 Reserves Statistics 137 Report on Payments to Governments 138 Glossary of Terms 140 Company Information IBC socointernational.com 02 Strategic
    [Show full text]
  • Corporate Update January 2021 Pharos Energy / 2 Disclaimer
    Pharos Energy Corporate Update January 2021 Pharos Energy / 2 Disclaimer This presentation has been prepared by Pharos Energy Plc. The presentation does not purport to The Group undertakes no obligation to revise any such forward-looking statements to reflect any be comprehensive and has not been fully verified nor will it be subject to material updating, changes in the Group’s expectations or any change in circumstances, events or the Group’s plans revision or further amendment. The presentation has been provided for information purposes only. and strategy. Accordingly, no reliance may be placed on the figures contained in such forward- looking statements. Forward-looking statements are not guarantees or representations of future Nothing in this presentation or in any accompanying management discussion of this presentation performance. Similarly, past share performance cannot be relied on as a guide to future constitutes, nor is it intended to constitute: (i) an invitation or inducement to engage in any performance. Even if the Group’s results of operations, financial and market conditions, and the investment activity, whether in the United Kingdom or in any other jurisdiction; (ii) any development of the industry in which the Group operates, are consistent with the forward-looking recommendation or advice in respect of the ordinary shares (the Shares) in Pharos Energy plc or statements contained in the presentation, those results, conditions or developments may not be the group of companies of which it is the ultimate holding company (together the Group); or (iii) indicative of results, conditions or developments in subsequent periods. any offer for the sale, purchase or subscription of any Shares.
    [Show full text]
  • Seismic Reflections
    9 December 2011 Seismic reflections Listening out for the Falklands jungle drums Interest in Falklands oil exploration has dwindled during 2011 as investors limit exposure to the frontier region. However, with Rockhopper nearing the end of its extended Sea Lion appraisal campaign, a second discovery having been confirmed in the shape of Casper, and most critically the Leiv Eiriksson drilling rig coming over the horizon to start drilling in the South Falklands Basin, we expect interest to pick up significantly in the new year. Enthusiasm may not reach the peaks of 2010’s hysteria, but the region continues to offer some of the cheapest proven oil in the ground along with Analysts excellent upside for the frontier exploration investor. Ian McLelland +44 (0)20 3077 5756 Colin McEnery +44 (0)20 3077 5731 Press coverage dries up Peter J Dupont +44 (0)20 3077 5741 Elaine Reynolds +44 (0)20 3077 5700 Column inches during 2010 became as inflated as valuations when Rockhopper Krisztina Kovacs +44 (0)20 3077 5700 bagged its maiden discovery at Sea Lion. However, more recently front page [email protected] spreads have been replaced with only the briefest of mentions. Indeed, confirmation 130 last month of a second discovery in the shape of Casper was greeted in one 120 110 leading trade journal with a paltry one inch of text and 36 words. 100 90 Investors take flight 80 Despite the almost heroic efforts of Rockhopper to fully appraise its Sea Lion 70 prospect, with eight appraisal wells almost all on prognosis and two flow tests Jul/11 Apr/11 Oct/11 Jan/11 Jun/11 Feb/11 Mar/11 Aug/11 Nov/11 Dec/10 Sep/11 May/11 Brent WTI driving resource estimates up to 389mmbbls, the interest in the North Falklands Basin has continued to wane.
    [Show full text]
  • Interim Manager's Report for the Period Ended 14 October 2010
    Distribution Number 12 Legal & General UK Active Opportunities Trust Interim Manager’s Report for the period ended 14 October 2 010 (Unaudited) Contents Page Number Manager’s Investment Report 2 Authorised Status 4 Directors’ Statement 4 Portfolio Statement 5 Statement of Total Return 8 Statement of Change in Net Assets attributable to Unitholders 8 Balance Sheet 9 Notes to the Financial Statements 10 Trust Facts 11 Performance Record 12 General Information 14 1 Manager’s Investment Report Investment Objective and Policy The investment objective of this Trust is to secure capital growth from UK securities, which offer recovery prospects and which may be selected from all economic areas. The Manager will select shares whose prices are undervalued and generally do not yet reflect earnings potential. Manager’s Investment Report During the period under review, the bid price of the Trust’s E-Class distribution units fell by 3.96% compared to a fall of 0.48% in the FTSE All-Share Index on a price return basis (Source: Bloomberg) . Past performance is not a guide to future performance. The value of investments and income from them may go down as well as up. Exchange rate changes may cause the value of any overseas investments to rise or fall. Market/Economic Review The UK stockmarket price level was little changed over the period, though individual shares were again volatil e. Markets took a dip on fears regarding some European economies, notably Greece, and the EU had to act to support Greece’s ability to access funding. In the UK , economic conditions remained fragile, with the new government indicating spending cuts which could affect consumer confidence.
    [Show full text]
  • MER UK Forum
    PROTECTIVE MARKING (as appropriate) MER UK Forum May 2016 PROTECTIVE MARKING (as appropriate) MER UK Forum OGA Update Andy Samuel Chief Executive May 2016 Presentation title - edit in Header and Footer PROTECTIVE MARKING Government(as support appropriate) since last Forum Prime Minister’s visit to Aberdeen in January 2016 • Involvement Prime Minister and First Minister • UK Inter-Ministerial Group established • OGA contingency planning team in place • Immediate action and bridge to the future • Help retain and redeploy people and skills Globally competitive fiscal regime Aberdeen City Region Deal Supplementary charge down 30% to 10% £250m £180m Petroleum revenue tax down 50% to 0% Westminster and New Oil & Gas New basin-wide investment allowance Holyrood funding Technology Centre Clarifying tax treatment of decom costs OGTC Board established and search Two £20m packages for geophysical surveys underway for Chief Executive Strong engagement and support PROTECTIVE MARKING OGA progress(as appropriate) since last Forum Revitalising exploration MER UK Strategy OGA Corporate Plan January 2016 published Engagements with banks and investors Low oil price contingency team Protecting critical infrastructure 30+ successful continued facilitation interventions eg, discoveries, field extensions and 14th Onshore Round improved operations Licenses offered • 2015 seismic data released • 2016 programme begins summer • Seismic competition awards Asset stewardship Commercial • World-class visualisation facility scorecard meetings behaviours • More flexible
    [Show full text]
  • Annex C Preliminary Uxo Threat Assessment
    Keadby 3 Low Carbon Gas Power Station Preliminary Environmental Information Report, Volume II - Appendix 13A: Phase 1 Desk Based Assessment Application Reference EN010114 ANNEX C PRELIMINARY UXO THREAT ASSESSMENT October 2020 Page 67 P RELIMINARY UNEXPLODED ORDNANCE (UXO) THREAT ASSESSMENT Meeting the requirements of CIRIA C681 ‘Unexploded Ordnance (UXO) – A guide for the Construction Industry’ Risk Management Framework PROJECT NUMBER 8472 ORIGINATOR D. Barrett VERSION NUMBER 1.0 REVIEWED BY L. Gregory (15th October 2020) CLIENT AECOM RELEASED BY R. Griffiths (15th October 2020) STUDY SITE Keadby 3 Low-Carbon Gas Power Station Project RECOMMENDATION No further action is required to address the UXO risk at this Study Site 6 Alpha Associates Limited, Unit 2A Woolpit Business Park, Bury St Edmunds, IP30 9UP, United Kingdom T: +44 (0)2033 713 900 | W: www.6alpha.com UNEXPLODED ORDNANCE THREAT ASSESSMENT STUDY SITE The Study Site is described as “Keadby 3 Low-Carbon Gas Power Station Project”, and it is centred on National Grid Reference 481834, 411442. THREAT POTENTIAL AND RECOMMENDATIONS The potential for a UXO hazard to occur, and more specifically, the potential for unexploded WWI and WWII ordnance to exist at this site is assessed as being UNLIKELY (Figure 2). In accordance with CIRIA C681 Chapter 5 on managing UXO risks, 6 Alpha concludes that NO FURTHER ACTION is required to address the UXO risk at this Study Site. Should you have any queries, please contact 6 Alpha. REPORT SUMMARY During WWII, the Study Site was situated within Isle of Axholme Rural District and Glanford Brigg Rural District, which recorded less than one and one High Explosive (HE) bomb strikes per 100 hectares respectively; both very low levels of bombing.
    [Show full text]
  • Seismic Reflections | 5 August 2011
    1 | Edison Investment Research | Seismic reflections | 5 August 2011 Seismic reflections Confidence in Kurdistan grows Iraq, including the autonomous Kurdistan region, probably has the world’s largest concentration of untapped, easily recoverable oil reserves. Pioneering moves were made into Kurdistan in the 2000s by the likes of Gulf Keystone and Hunt Oil, with considerable drill-bit success. In late July, two important Kurdistan exploration and development deals were announced. These involve Afren acquiring interests in two PSCs with sizeable contingent reserves and a Hess-Petroceltic partnership signing two PSCs for exploration purposes. With increasing production and Analysts improving relations between the regional and Iraqi federal governments, Ian McLelland +44 (0)20 3077 5756 these deals reflect growing confidence in Kurdistan’s potential as a major Peter J Dupont +44 (0)20 3077 5741 new petroleum province. Elaine Reynolds +44 (0)20 3077 5700 Krisztina Kovacs +44 (0)20 3077 5700 Anatomy of the Kurdistan oil province [email protected] 6,000 Kurdistan is located in the North Arabian basin and is on same fairway as the 5,500 prolific oilfields of Saudi Arabia’s Eastern Province, Kuwait, southern Iraq and Syria. 5,000 4,500 The geological backdrop to Kurdistan tends to be simple and is characterised by 4,000 3,500 large anticlinal structures, deep organic-rich sediments and carbonate reservoirs 3,000 mainly of Jurassic to Cretaceous age. Drilling commenced in the region in 2006. So far, 28 wells have been drilled, of which 20 have been discoveries, resulting in A pr/11 Oct/10 Jun/11 Fe b/11 Aug/10 Dec/10 Aug/11 estimated reserves of over 5.8bn boe.
    [Show full text]