Reliance confirms MA field shut down due to natural decline

first_imgIndia’s oil company Reliance Industries has confirmed that the MA field ceased production on September 17, 2018, due to natural decline.This was first revealed earlier this week by Ocean Yield, the owner of the FPSO Dhirubhai-1 which had operated on the field. Reliance had the option to buy the FPSO following the expiry of a ten-year contract but decided not to exercise it. The contract expired on Wednesday, September 19, 2018.The MA field located off the East Coast of India in Block KG-DWN-98/3 (KGD6) is operated by Reliance with a 60% interest. Its partners are BP with a 30% interest and Niko Resources with the remaining 10% interest.Confirming the cessation of production from the MA field, Reliance said on Friday that post-cessation activities related to the field shutdown are underway.According to the Indian company, production from the field had been under natural decline and facing continuous challenges due to high water production and sand ingress. The field has cumulatively produced about 0.53 TCF of Gas and 31.4 Million Barrel of Oil & Condensate and had no remaining reserves.For the fist quarter of FY19, MA field contributed less than 0.1% in terms of revenue at Reliance consolidated level, the oil company said.The Dhirubhai – 26 (D26), oil, gas and condensate deep water discovery was made in 2006. The discovery was developed and put on production in September 2008. This was India’s first deep water development (water depth up to 1,250 meters), with seven wells tied back through a subsea production system to a purpose built, state of the art disconnectable turret moored FPSO production unit.Reliance also said that relevant governmental agencies have already been informed.When it comes to the FPSO’s future and employment opportunity outside India, Ocean Yield said earlier this week it had been awarded a Front End Engineering Design (FEED) study for the potential use of the FPSO. The study is estimated to be completed during 4Q 2018.Meanwhile, Ocean Yield will consider recording an impairment related to the FPSO in 3Q 2018 between $0-50 million.Offshore Energy Today Stafflast_img read more

Newt Gingrich speaks about impeachment, 2020 ahead of campus visit

first_imgHis new book, which was released Oct. 22, details that America’s greatest competitor is China and that the American system is being challenged by the Chinese system. Gingrich said the U.S. is currently facing two challenges with China — a domestic problem and an international problem. “[The] investigation … violates the right of due process defined in the Bill of Rights and is done in secret by harsh partisans who clearly are bitterly determined to take out Trump,” Gingrich said. “It is an embarrassment. The fact is that you and I have no idea if they have discovered anything because everything is done in secret.” When asked about the difference between the impeachment proceedings against Clinton and the current inquiry into Trump, Gingrich did not directly answer the question in detail and instead reiterated that the current investigation lacks due process and fails to be bipartisan. “The most interesting thing about next year’s election is going to be whether or not people actually want to follow policies that so clearly don’t work,” Gingrich said. “My personal guess is that [former Vice President Joe] Biden is in trouble — he can’t raise money, and he is also goofy.” The Daily Trojan could not independently confirm these statistics.  “The politics of Sacramento have led to the kind of investment strategies so that PG&E has not put its money into modernizing its lines,” Gingrich said. “We have a power company in America so incompetent that its only solution is to quit being a power company … To turn off electricity to 2 million people, they basically give up being a power company.” While Gingrich is staunchly opposed to impeachment, recent FiveThirtyEight polls suggest that 83.3% of Democrats and 47.5% of independents support impeachment. Among Gingrich’s Republican party, only 11.4% of Republicans support impeachment.  Gingrich predicts that if Biden cannot gain enough support in 2020, Sen. Elizabeth Warren could potentially pose a threat to Trump in the fall. “We will toss [the event] open to questions and let the students direct it,” Gingrich said. “We have to recognize that China’s operating on a worldwide basis … and it is very different than what we are used to dealing with,” Gingrich said. “And the Chinese are doing a brilliant job of using free enterprise, the Belt and Road Initiative and Huawei 5G to network together countries all over the place in a way we currently are not close to matching.” “They don’t let the Republicans have subpoena power, and they don’t let the White House council sit in the room,” Gingrich said. “This whole thing is being done as a hatchet job.” “The core of my initial presentation [in Bovard] will be about the nature of China and the degree to which we have misunderstood [China] and the need for us to really reassess how we are going to deal with a competitor of this scale,” Gingrich said.  YAF Chairman Maxwell Brandon said he hopes students learn about the real issues facing the country, such as the trade war between China and the U.S.center_img “The most accurate way to think of this is that this is a sore loser impeachment,” Gingrich said. “It isn’t about anything that Trump has done. It is about the fact that Trump exists, and 70% of people who favor impeachment favored impeachment the morning after the election.”   “China is big in the news right now with the trade war going on, the theft of intellectual property, and it’s something I think is really relevant,” Brandon said. “Hopefully [students] can begin to solidify an opinion on China.” Though Gingrich has made frequent appearances on television networks in an effort to promote his new book, he has also been a prominent voice related to the current impeachment inquiry. House Speaker Nancy Pelosi announced that the House will vote on the impeachment inquiry into Trump Thursday, and Gingrich, a vocal supporter of the president, is against the decision.  “Anybody poses a legitimate threat until you beat him, but I think it would be very foolish to think that she’s not [a threat],” Gingrich said. “If you look at the range of her ideas, she would represent such a radical defining of America.” Ahead of his talk at Bovard Auditorium Tuesday, former Speaker of the United States House of Representatives Newt Gingrich spoke to the Daily Trojan about the rise of China, the 2020 election and the impeachment inquiry against President Donald Trump. Young Americans for Freedom, a conservative campus organization, will host the former representative and current presidential adviser for a discussion on his new book “Trump vs. China: Facing America’s Greatest Threat.”  Gingrich also discussed California politics and was critical of the state’s policymakers, especially regarding the recent wildfires raging across Northern and Southern California.  Gingrich will discuss these topics in detail during his talk Tuesday and looks forward to fielding questions from the audience. As house speaker during the late 1990s, Gingrich led the impeachment against former President Bill Clinton. Just months after Clinton’s impeachment, which was determined on a party-line vote, Gingrich resigned from his position after revelations of an extramarital affair with a younger congressional employee garnered attention.  Former Speaker of the HouseNewt Gingrich spoke to the Daily Trojan about his new book on the competition between China and the U.S. (Photo from Facebook / Newt Gingrich) Gingrich also discussed the 2020 election and the upcoming Iowa caucus in February, the first nominating contest of the Democratic presidential primaries.  Gingrich believes that under his leadership during Clinton’s impeachment, he approached the issue with a more bipartisan and transparent approach.last_img read more