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The Suez Canal Earns $280Million More…

Egypt’s Suez Canal Authority has reported a 20% increase in US Dollar revenues in the first quarter of 2022, compared with the corresponding period in 2021.

“The channel’s revenues recorded $1.69Billion , compared with $ 1.409Billion during the same period of the same period a year ago”, according to  Osama Rabee, Chairman of the board of the  Suez Channel Authority.

“Naval reports saw a significant increase in the passage rates of different ship types compared to last year’s period, where the numbers of cast ships rose 29.1%”, Mr. Rabee reports. “Channel transcontainer ships increased by 17%, with an increase of 27.2% in car racks ships; Tourist ships doubled in number; public goods ships recorded an increase of 18.1% and transporters increased by 6.5%”.

Observing that the Canal has not been negatively affected by the Russian /Ukrainian crisis, Rabee said 5,303 ships crossed over versus 4,581 ships the same period last year, with a difference of 722 ships, an increase of 15.8%, and the trans-channel cargo increased by 7.4% with net cargo recorded during the first quarter of the current year being 313.3Million Tonnes, compared with 291.7Million Tonnes.

The rise of the number of ships crossing the channel over the period “clearly reflected the recovery seen in the maritime transport market, and the significant growth in the global trade movement”, Rabee notes, adding that the authority is prepared to deal with the various challenges facing the maritime transport market by adopting a package of flexible marketing policies that can keep up with market variables and consider customer interests”.





Wellsworth Energy Services Limited (WESL), a Nigerian oilfield service company, officially received its ISO 9001:2015 and ISO 14001 Integrated Management Systems Certification from the Standards Organisation of Nigeria (SON).

The certification was delivered on December 8, 2020.

Wellsworth specialises in the provision of oilfield Drilling & Production chemicals, Equipment Rental & Engineering services to Exploration and Production companies. SON is the Nigerian regulatory agency tasked with ensuring compliance to laid-down operating procedures and guidelines for various sectoral service organisations.

At a ceremony held at Wellsworth’s headquarters in Victoria Island, Lagos, the SON team led by Engineer Felix Nyado, Fsi, Director, Management Systems Certification representing the Director-General of the agency and Mallam Farouk A. Salim officially presented the Certification to Mr. Olusola Falodun, the company’s Managing Director.

The Director-General commended Wellsworth Energy Services Limited for undertaking the audit process to ensure their internally-developed systems and procedures measure up to globally acceptable standards. The ISO 14001 is an Environmental Management System while the ISO 9001 is the Quality Management System, which its dual use will strengthen the systems and processes of Wellsworth Energy in line with her Corporate Strategy of exceeding internal and external stakeholder expectations

The presentation of the ISO9001:2015 and ISO 14001:2015 certificate to Wellsworth Energy Services Limited effectively puts the organisation  in the elite league of those service companies  adhering to a high level of globally acceptable standards. Re-certification occurs every three years, with routine annual surveillance checks. The initial certification comes up for renewal in 2023. Negligence or untimely correction of non-conformities within an observed space of time can result in the withdrawal of the certificate.

Wellsworth Energy Services Limited has been in existence since 2007 and provided oilfield services through partnerships with credible local and multinational companies. Wellsworth undertook a rebranding exercise in 2017 to streamline service offerings and deepen customer-facing activities aimed at sustaining shareholder value. The multi-layered technical and management experience offered by Olusola Falodun (Managing Director) and Emeka Emezi (Executive Director) have ensured development and implementation of the company’s strategic initiatives. The company’s employees have a combined work experience of over 100 years in land, swamp, shallow water and deep water terrain garnered in regions such as Nigeria, Gabon and the Middle East. Wellsworth Energy services Limited has as its core competencies in the provision of drilling fluids and production chemicals used in the drilling and production sectors of the Oil & Gas industry ensuring production of crude oil with API qualities according to clients’ specification.

In its short span of existence, Wellsworth Energy Services Limited has worked in the IOC-dominated deep water terrain with SNEPCO, TOTAL & Chevron and Mobil Producing Nigeria, Elcrest, in the shallow water field and Nigeria Agip Oil Company on Land to mention a few. With certification of its processes and procedures, the company brings to bear the ability to influence to the highest possible standards the level of performance of any and all stakeholders associated in the drilling and production phase of the oil and gas industry, so echoes Emeka Emezi.

Suez Canal Drops Transit Fees Further More

As the Egyptian government tries to support revenues, with the pandemic hammering trade, shippers of Liquified Petroleum Gas on the Suez Canal will continue to pay lower transit fees until June 2021.

Carriers traveling between southeast Asia and the United States have gotten breaks ranging between 24% and 75% since April, depending on their route.

The measures were introduced by the Suez Canal Authority in response to a slowdown in global trade caused by the pandemic.

The SCA has also reduced transit fees for large oil tankers traveling between northern Europe and southeast Asia by 48%.

“The authority granted discounts to shipping lines as marketing tools to attract ships that use other alternative routes”, reports Al Mal, the authoritative Egyptian newspaper. These routes are chiefly the Cape of Good Hope, and the fees are “based on a study of the costs of operating a ship’s transit voyage in the Suez Canal, compared to other alternative channels, especially since crossing these routes takes a long time without payment of Transit fees, compared with the Suez Canal “, Al Mal reports.

‘Egypt Is Not Short Of Natural Gas’- Former Oil Minister

Osama Kamal says the country could gain added value by producing chemicals with natural gas than generating power…

“We don’t have a shortage in natural gas”, a former Egyptian Minister of Petroleum has declared, in a statement that’s contrary to mainstream perception. “We are maintaining the same production rates”, Osama Kamal told Egypt Oil & Gas Web Portal (www.egyptoilgas.com). Kamal oversaw the crucial ministry under the deposed President Mohammed Morsi.

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Sand Injectites in Deep-Water Depositional Environments, Detection and Interpretation using Borehole Electrical Images

By Peter Schlicht, Schlumberger Technical Services Inc., Angola, with Oskar Yepes and John Crowe, Chevron Angola

Conventional core data from Miocene deep water turbidite channels in Angola show common occurrence of sand injections. Structures formed by these elastic intrusions are called injectites and they can have both negative as well as positive impact on the reservoir performance. They occur as sub-vertical dikes, horizontal and br bedding parallel sills. Early detection and recognition of these features, which can range from millimeter to kilometer scales. can considerably impact the development strategy of for a given reservoir. Borehole electrical images allow to detect injection features and to differentiate from the surrounding geological contexts, so their impact can be quantified. In our case study we examine the resistivity content of the borehole electrical image in combination with the interpreted directional data, the formation dip. Based on user-input contrast cutoffs, conductive and resistive events that do not correlate across the borehole along the bedding direction, and that show high enough contrast with respect to their background, are detected by performing a heterogeneity analysis. Assuming ‘pure’ elastic systems we infer a directly proportional relationship between non- conductive mud invasion to porethroat- and grainsize in order to separate sand, silt and clay proportions. Detecting relative grainsizes combined with evaluation of non- correlating bedding events lead us to the recognition of sand intrusion events and their orientation.

OWA Relocates 2010 Meet From Luanda To Accra, The 2010 edition of the Offshore West Africa Conference will no longer take

place in Luanda, the Angolan capital. For the second time in 12 years, the conference is heading to Accra, Ghana, the newest magnet for African exploration money. Citing logistical difficulties, the PennWell group-conference organizers and publishers- decided to relocate the meeting from Luanda to Accra. The dates remain 9-11 March 2010. OWA has been held in only four other West African cities since its premiere in Libreville, Gabon, in 1996. It was held in Accra in 1997. There was no 1998 event. For the next two years-1999 and 2000-it held in Abidjan, Cote D’Ivoire. The conference arrived Abuja, Nigeria in 2001, held again in 2002 and headed for Windhoek, Namibia in 2003. The sharp drop in conference attendance occasioned by the change from Abuja to Windhoek forced the conference back to Abuja, where it has held six times from 2004 to 2009. The failure to get Luanda is happening for the second time in nine years. In 2000 OWA conference organizers tried to interest the Angolan government in hosting the event in West Africa’s second largest oil producing nation. OWA, which is being run from Houston in the United States, requires partnership of the host government in order to hold in an African city. But Sonangol, the Angolan state hydrocarbon company, simply wasn’t keen. Angola just isn’t as enthusiastic as other African governments to host the largest gathering of oil and gas professionals on the continent. In moving to Accra, though, the organizers are comforted by the fact that there’s been heightened interest in the country. ‘The decision was also based on the growing energy industry interest in Ghana and nearby countries as the next big thing off West Africa”, PennWell said in a statement. “Ghana was chosen as the new site for the event because it is one of the most promising offshore exploration regions off West Africa. Activity there is expected to increase significantly with the recent $4 billion bid by ExxonMobil for a share in the offshore Jubilee field. Energy analysts view Ghana as an emerging offshore province with enormous potential for oil and gas reserves”. The release reminds us that “The ExxunMobil deal comes less than a month after Anadarko Petroleum announced another find off the coast of Sierra Leone and held out the possibility that a large, 700-mile span of ocean off the coast of West Africa could hold major reserves”. The PennWell statement reinforces its conviction that the conference in Accra might offer the level of audience participation that a venue like Luanda guarantees: “Industry sources say that the same oil companies that operate offshore Angola and Nigeria are equally interested in the opportunities offshore Ghana and neighboring countries, and they will be in attendance at OWA next March in Accra’, it said.  “We are pleased to be able to bring OWA to Ghana at a time when the industry interest in the region is at an all time high”.

Oando Makes $$Millions In Rest Of Africa, 18% of sales outside Nigeria boosts the company’s Pan African credentials

Oando, the energy company listed on the Nigerian and Johannesburg Stock Exchanges, has reported total sales of $43omillion in its 2008 financial year, from countries outside Nigeria, the company’s domicile. This “external revenue”, earned largely from trading in petroleum products in the neighbouring countries of Ghana and Togo, makes up about 1800 of the entire sales figure of $2.25billion in the financial year. This particular result is a boost to Oando’s regional, pan African claims. Oando has made significant noise about its regional ambitions. In 2005, it chose to announce its secondary listing on the Johannesburg Stock Exchange (JSE), the continent’s pre-eminent bourse, during the World Petroleum Congress held in Johannesburg, South Africa. In October, 2009, Oando won the bid to partner the Ghana National Petroleum Corporation to “develop assets and infrastructure to harness the gas that will be produced from Jubilee”, the country’s flagship deepwater field. With a listing in South Africa, profitable product trading in Togo and Ghana, gas(midstream) infrastructure, oil field upstream production and technical services as well as an extensive product retail network in Nigeria, Oando can claim to have gone a distance, to qualify as a regional leader. But there’s a long road ahead, to catch up with companies like Sasol (South Africa’s synfuel giant) and Oraseom Construction(Egyptian conglomerate with forays into gas-based fertilizer, cement etc).

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