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Oil and Gas news

Wellbore debris delays static kill

BP has likely pushed back plans to begin kill operations on the Macondo blowout in the US Gulf of Mexico after crews found debris in the well that had to be cleared before they coudl run the final casing string.

Apache weighs in on Concho-Marbob deal

Oil and gas company Concho Resources said today that BP has exercised preferential purchase rights for some of Concho's recent $1.66 billion deal for privately held Marbob Energy.

House votes to end drilling ban

The US House of Representatives today voted to end the federal moratorium on deepwater drilling for oil companies that meet new federal safety requirements.

Trio team on Arctic acreage

Imperial Oil, ExxonMobil and BP have formed a joint venture to explore for oil and gas in acreage they hold in the Beaufort Sea in Canada's Arctic, Imperial said today.

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INITIATIVES

SEAPEX QUESTIONNAIRE RESULTS

SEAPEX Members may access a more detailed analysis of the results from the survey conducted earlir this year which had sought Members opinions on the various activities and servies provided to the membership.  The results of the survey can be downloaded here (Survey Results).

As you will see from these results there is a variety of opinion and, as such, not every opinion can be accommodated!. That said, there have been some very valid points made which have highlighted areas for improvement, many of which have been and are being acted upon. For this reason alone, we consider this initiative as having been successful and yet again wish to thank all Members who took the time, by responding, to participate in this initiative.

With thanks,

John Whitcomb


DISCRETIONARY SPENDING

October 2009 – September 2010

June 2010 Update

Activity
Budget
Actual
Comments/Status
NUS Fellowship
$74,000
$74,000
Approved at October Council meeting, To be paid in 2 installments.
1st payment – $42,000.00 paid 23 October
2nd payment paid in January 2010
Donation to Padang flood victims
$15,000
$15,000
Approved at October Council meeting.
$15,000.00 paid on the 15 October 2009
Singapore Experience Awards 2009 Donation
$1,000
$1,000
Approved via email. Beyond Social Services - organisation dedicated to reducing delinquency in less privileged children
Paid on 22nd October 2009
NUS Barrel Prize
$500
$890
Approved. Event in November. 5 plaques at $98.00 each plus $500 prize
ARC Linkage Grant
$12,700
 
Approved. ARC Centre of Excellence for Coral Reef Studies. October letter confirmed support of A$10,000/year x 3 years subject to gov’t approval of initiative. Status uncertain
Indonesian Student Leadership Conference
$8,500
$8,308
Approved at November Council mtg. ~$6,000 USD. SEAPEX to fund 100%. Paid.  
Thai Student Competition
$4,200
$428
Approved at Nov Council mtg. THB 100,000 = 50% of travel & prizes for research papers. Research competition to be held 1 April. Final amount THB 100,000 or 10,000?
Visiting Regional Speakers
$10,000
$4,434
Bob Shoup to Manila $899, John Jacques to Perth $1,664 & Bangkok twice $1,871.  Approved $1000 for KLEX.
Support for Non-Technical Courses, Singapore (3), Jakarta (1), Kuala Lumpur (1), Manila (1), Ho Chi Minh City (1), In-house (2)
$20,000
$1,403
$5,000 contingency for each course held outside Singapore approved at November Council mtg. Actual is net cost from May budget update.
IPA Meeting & Booth
$10,000
$7,280
Approved at November Council mtg. 16-18 May. Estimated cost $8,300.  Profit of $1,688 made from SEAPEX Pavilion exhibitors.
Borneo Deltas Field Trip
$25,000
 
Delayed from last year. Planning for September
Singapore geothermal field trip
$1,000
$1,809
February trip and March trip 2010. Next in July.
Regional Coordinators to AGM & Annual Dinner
$5,000
 
Approved at November Council mtg.
SEAPEX benefits of membership flyers
$3,000
 
Approved at November Council mtg. Flyers will be printed 3 times per year
Totals
$189,900
$114,552
$109,935
Approved to date $164,900, paid $114,552. Pending final approval $25,000

Discretionary Spending Ideas Considered and Declined

Activity

Budget

Actual

Status

Subsidy for Singapore pavilion at IPA $20,000   Declined
SEAPEX Shirts & Caps $12,000   Consider for conference
Support for Singaporean Student Katherine Kho Studying for MSc in Petroleum Geophysics at Imperial College $22,734   Proposal for 10,000 pounds
Thailand Field Trip $25,000   Delayed from last year. On hold until situation in Thailand improves
Co-sponsor conference on rift basins with Geologic Society of Thailand in January 2011     Bob Shoup request. Funding requirement unclear. Next years budget.