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Topics - adroth

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1
As of writing, I still hadn't received permission to share his replacement, but MBLT6@defenseph sent me the following IM on the August the 9th.



===

From the Talisman gun truck . . .

. . . to the Marine Scout Sniper Rifle . . .

. . . to the M249 acquisition, the FIRST acquisition under the AFP Modernization Program . . .

. . . the myriad of innovations at the CSSB . . . (to include follow-ons to the Talisman that was dismantled after he moved on to other positions)

. . . record breaking achievements at the Government Arsenal.

Your unparalleled track record will be sorely missed. Your successor will have very very big shoes to fill.

===

From: https://youtu.be/oBwlMfeECgM


2
Infrastructure and Nautical Highways / Nido Petroleum Limited
« on: August 14, 2017, 01:05:54 AM »
From: http://www.nido.com.au/irm/content/company-profile.aspx?RID=172

Company Profile

Overview

Nido Petroleum Limited (“Nido” or “the Company”) is an oil and gas exploration and production company with operations in the Philippines. The Company has an impressive inventory of assets comprising a mix of producing assets, development opportunities and attractive exploration prospects. Nido is headquartered in Perth, Western Australia and has a fully staffed office in Manila, Philippines. The Company is owned by BCP Energy International Pte Ltd, a wholly owned subsidiary of the Bangchak Corporation Public Company Limited ('Bangchak') of Thailand. For further information about Bangchak please visit www.bangchak.co.th.

Background

Nido holds a dominant position in the North West Palawan Basin in the Philippines with interests in Service Contracts that have a gross acreage position of 2,640,000 hectares. The Basin is highly prospective for oil and gas exploration and has a history of commercial discoveries. Water depths in the basin range from less than 100 metres to in excess of 2,000 metres. The large contiguous acreage position provides basin-wide exposure to multiple play types and contains material world-class prospects.

Producing assets include the Galoc Oil Field (55.88% interest), Nido A and B Fields (22.49% interest) and Matinloc Field (22.28% interest). Nido also holds a 22.28% interest in the West Linapacan A and B Oil Fields which are currently under review by the West Linapacan Joint Venture.

3
General Discussion / PCG to receive 7 maritime response helicopters
« on: August 14, 2017, 12:40:19 AM »
ICC approves 6 big-ticket projects costing P57.5 billion
Published August 13, 2017, 10:00 PM
By Chino S. Leyco

http://business.mb.com.ph/2017/08/13/icc-approves-6-big-ticket-projects-costing-p57-5-billion/

The Cabinet-level Investment Coordination Committee (ICC) approved six new big-ticket projects involving infrastructure and the mobilization financial resources, the Department of Finance (DOF) announced yesterday.

In a statement, Finance Secretary Carlos G. Dominguez III said the ICC approved P57.5 billion worth of big-ticket projects that would benefit local government units (LGUs) in Mindanao and help ease traffic congestion in Metro Manila.

< Edited >

The ICC also approved the procurement of seven maritime disaster response helicopters to strengthen and expand the Philippine Coast Guard’s capability to respond to maritime incidents during natural calamities.

< Edited >

4
Dragon Economy / Should We Worry about China Dumping U.S. Treasuries?
« on: August 13, 2017, 09:00:37 PM »
Should We Worry about China Dumping U.S. Treasuries?
March 31, 2017
Zane E. Brown

https://www.lordabbett.com/en/perspectives/fixedincomeinsights/should-we-worry-china-dumping-us-treasuries.html

Trade and geopolitical tensions have spurred investor concerns that China may unload all or part of its holdings of U.S. Treasuries totaling $1.1 trillion.

In Brief

    Trade and geopolitical tensions between China and the United States have raised concerns that China may sell all or part of its massive holdings of U.S. Treasury securities in response to developments that Beijing considers unfavorable to it.

    A large-scale disposal of Treasuries by China could lead to negative economic and market consequences worldwide, spurred by a spike in U.S. interest rates and a big drop in the U.S. dollar.

    It seems likely, though, that if the selling process were to lead to financial instability, the U.S. Federal Reserve (Fed) could emerge as a buyer of Treasuries to calm markets.

    If China were to sell its $1.1 trillion of Treasuries in retaliation for pressure from Washington to balance its trade surplus, for example, the effect may be the opposite of what Beijing intends.

    Why? For China, selling Treasuries—and the U.S. currency it receives as proceeds—could actually lead to the undesirable outcomes of weakening the U.S. dollar and strengthening the yuan (thereby making Chinese exports more expensive).

    Meanwhile, China has become less critical to U.S. Treasury financing, as Beijing’s role as a large-scale purchaser of Treasuries has diminished somewhat over the past several years.

    The key takeaway—Analysis suggests that investor fears over China’s holdings may not be realized, and even if they were, and the Fed took mitigating action, the consequences likely would be less severe than initially believed.

< Edited >

5
Japan surpasses China as the U.S.’s largest creditor
Published: Dec 16, 2016 11:36 a.m. ET

By JOSEPH ADINOLFI
MARKETS REPORTER
 
Japan has overtaken China as the largest foreign owner of U.S. Treasury debt, according to data released by the Treasury Department late Thursday.

The latest data, which measures shifts in foreigners’ Treasury holdings during the month of October, show China dumped $41.3 billion in Treasury bonds, bringing total holdings of private and official investors (i.e. its central bank, the People’s Bank of China) to $1.115 trillion. Japanese investors also dumped Treasurys in October, but at a much slower pace: The Japanese sold $4.5 billion, bringing their net holdings to $1.131 trillion.

The data don’t account for Treasurys owned by Chinese investors that are held in custody accounts in other countries, which could alter the rankings. But by this measure, China has held the top spot for a number of years, though Japan briefly overtook it for one month in February 2015.

< Edited >

Because of its far-reaching implications for the Treasury market and the broader U.S. economy, the trend is making investors nervous. If foreign demand continues to wane, the U.S. Federal government will be forced to pay higher interest rates on its debt, forcing it to spend more of its annual budget on debt service.

“Flagging foreign sponsorship for U.S. Treasuries remains the No. 2 concern for investors we speak with, No. 1 is whether Trumponomics ultimately will lead to reflation and growth,” said Ian Lyngen and Aaron Kohli, a team of fixed income strategists at BMO Capital Markets.

< Edited >

China has been selling Treasury bonds since before the election, but Trump’s anti-China rhetoric, and his decision to accept a congratulatory call from Tsai Ing-wen, the president of Taiwan, have angered the Chinese, have ignited speculation that the PBOC could seek revenge by sowing discord in the Treasury market.

But if China does step up the pace of selling too much, Kohli believes the Federal Reserve would step in as the buyer to calm the market and prevent U.S. borrowing costs from skyrocketing.

“I don’t think they would allow a disorderly increase in yields to persist because of the negative impact it would have on economic conditions,” Kohli said.

6
From: http://www.nido.com.au/irm/content/sc-14-c2-west-linapacan-a-and-b-oil-fields1.aspx?RID=245

Project:   West Linapacan A and B Oil Fields
Location:   NW Palawan Basin, offshore Philippines.
Working interest   22.28%
Operator   The Philodrill Corporation
Area   18,000 hectares
Initial Discovery:   Discovered in 1981 at 290 metre water depth

Brief description:   

West Linapacan is located in 300 to 350 metres of water, approximately 60 kilometres offshore from Palawan Island in Block C2 of Service Contract 14 (SC14) in the NW Palawan Basin, Philippines. It comprises two main oil bearing structures – West Linapacan A and B – and several seismic leads. The West Linapacan A and B structures are northwest southeast trending, fault-bounded anticlines approximately 7.6 kilometres apart. Both fields produced 32 - 34º API oil from the fractured Nido limestone reservoirs.

Recent activity:   

The Philodrill Corporation was appointed operator of the West Linapacan Joint Venture following the removal of RMA
West Linapacan Pte Ltd from the Service Contract by the Department of Energy.

7
From: http://www.nido.com.au/irm/content/sc-14a-14b-nido-mantiloc-oil-fields.aspx?RID=237

Project:   Nido & Mantiloc Oil Fields
Location:   NW Palawan Basin, offshore Philippines.
Working interest   Block A: 22.49%
Block B: 28.28%
Operator   The Philodrill Corporation
Area   68,000 hectares
Initial Discovery:   Discovered in 1981 at 290 metre water depth

Brief description:   

The Nido oil field is located in Block A of Service Contract 14 (SC 14), at the southern end of the NW Palawan Basin, approximately 60 kilometres west of Palawan Island. The Matinloc oil field is located in Block B of Service Contract 14 (SC 14), approximately 50 kilometres northwest of Palawan Island and 54 kilometres north of the Nido oil field in 25 metres of water.

In mid-1979 three additional development wells (Nido-A2, -B2 and -B3) were completed and a production platform was installed at Nido-A and Nido-B standing in waters of 43 metres and 78 metres, respectively.

Matinloc is situated in 25 metres of water and was discovered in January 1979 with the drilling of the wildcat Matinloc-1 well, intersecting a carbonate reef build-up. The field is mapped as a four-way closure with a gross hydrocarbon column of more than 91 metres.

Matinloc-2 and Matinloc-3 were drilled directionally from the Matinloc-1 location in early 1980 and 1982, respectively.

The Nido fields produce crude oil with a gravity of 27° API and 2% sulphur content, and is marketed into refineries in the Philippines together with the Matinloc crude.
 
Recent activity:   

The Nido and Matinloc oil fields continue to produce oil on a cyclical basis.

8
General Discussion / Service Contract No. 37 – Cagayan
« on: August 12, 2017, 05:28:04 AM »
From: http://pnoc-ec.com.ph/service-contract-no-47-offshore-mindoro/

Service Contract No. 37 – Cagayan

Project Location : Cagayan Basin

JV Partners and Percent Equity :  None

Project Description: SC 37 was awarded by the Department of Energy (DOE) to PNOC EC on 18 July 1990, originally covering an area of 2,200 sq. km. In 1997, it entered into a twenty-five (25) year production period when the San Antonio Gas Field was declared commercial by the DOE. This required PNOC EC to relinquish portions of the block retaining only the production area. Presently, SC 37 covers only 360 sq. km.

Brief Background : PNOC EC’s exploration activities in the Cagayan Basin started in 1974 and the 1st well, Rizal 2, was drilled in 1975.  Although gas was present, it was not tested because oil was the objective of the drilling.  In 1981, San Antonio 1 was drilled and flowed gas – PNOC EC’s first discovery.  It was a modest discovery but at the time it was not feasible to produce.  When new developments in gas-fired power plants were available, producing small gas fields like San Antonio became viable.

In 1995, the San Antonio Gas Field started production supplying the fuel requirements of a 3-MW power plant.  The field was in production until 2008 and by the time it was depleted it produced 3.54 BCF gas.

During the production period of San Antonio, PNOC EC re-assessed the petroleum potential of the area, including the old Rizal 2 well, which had gas. One of the prospects identified was Mangosteen.  The well was drilled in March 2015 and several gas-charged zones were encountered and tested. The Mangosteen-1 Well was considered a Gas Discovery Well as confirmed by the DOE.  Presently, PNOC EC is conducting post-well evaluation and assessment of the block for possible appraisal drilling.

9
General Discussion / Service Contract No. 74 – Northwest Palawan
« on: August 12, 2017, 05:26:40 AM »
From: http://pnoc-ec.com.ph/service-contract-no-74-northwest-palawan-2/

Service Contract No. 74 – Northwest Palawan

Project Location : Northwest Palawan Basin

JV Partners and Percent Equity :  PXP Energy Corp., former Philex Petroleum (Operator) 70%, PNOC Exploration Corporation 5%, Philodrill 25%.

Project Description :

SC 74 was awarded by the DOE to joint bidders Pitkin Petroleum Limited (Pitkin) and Philodrill Corporation on 13 August 2013 during the 4th Philippine Energy Contracting Round.

The Service Contract covers an area of 429,184 hectares in the offshore Northwest Palawan Basin with water depths ranging from less than 10 m. to about 200 m. and about 278 km. southwest of Manila and approximately 150 km. northwest of Puerto Princesa, Palawan.

PNOC EC acquired its 5% participating interest from Philodrill which was approved by the DOE on 5 November 2015. Philodrill, which originally held 30%, now has 25% interest in the block. On 5 April 2016, DOE approved Pitkin Petroleum’s transfer of its 70% interest and operatorship to PXP Energy Corp. (formerly Philex Petroleum).

Brief Background :

The SC 74 Consortium has conducted geological and geophysical studies including purchase of 3D seismic data and reprocessing of selected 2D seismic data as part of the initial commitment. In 2016, about 1,600 km of 2D seismic data covering the block was acquired and processed aside from gravity and magnetic data. All these new data will be undergoing interpretation during the year.

The SC 74 Consortium is also undertaking evaluation of the Linapacan-A and Linapacan-B oil discoveries for possible commercial development.

10
General Discussion / Service Contract No. 63 – East Sabina
« on: August 12, 2017, 05:25:16 AM »
From: http://pnoc-ec.com.ph/service-contract-no-63-east-sabina/

Service Contract No. 63 – East Sabina

Project Location : Offshore Northwest Palawan

JV Partners and Percent Equity :  PNOC EC (Subject to DOE approval) 40%, NIDO Petroleum (Operator) 50% .

Project Description : SC 63 was jointly bidded and awarded to PNOC EC and Nido Petroleum on 24 November 2006 with each holding 50% interest. In 2014, Dragon Oil farmed-in acquiring 40% interest.  With the farm-in, PNOC EC’s interest was reduced to 40% and Nido to 20%.

Brief Background : As part of the SC 63 commitment, 3,254 km 2D and 754 square km 3D seismic data were acquired over the area with focus around the Abo-abo well, which flowed gas when drilled in the early 80s.  Several interesting drillable targets were mapped co-relatable to the Abo-abo discovery.  The presence of an active petroleum system attracted Dragon, which led to their farm-in.

The Baragatan-1A Well was drilled in May to July, 2014 and encountered several thin gas-charged zones, which were deemed non-commercial.  In November 2015, Dragon decided to withdraw from the block.

On 10 March 2016, the DOE granted a three-year (3) technical moratorium from November 2015 to November 2018 to allow the partners to further study the block prior to committing to drill a well.

11
General Discussion / Service Contract No. 59 – West Balabac
« on: August 12, 2017, 05:23:29 AM »
From: http://pnoc-ec.com.ph/service-contract-no-59-west-balabac/

Service Contract No. 59 – West Balabac

Project Location : Offshore Northwest Palawan

JV Partners and Percent Equity :  PNOC EC    100%.

Project Description: SC 59 was awarded to PNOC EC by the DOE on 13 January 2006. It covers an area of 14,760 sq. km. in offshore Southwest Palawan and is located north of recent deep-water gas discoveries in offshore Malaysia.

BHP Billiton farmed-in into SC 59 in 2009 acquiring 75% working interest and operatorship but later withdrew in 2013.

Brief Background : In 2006, PNOC EC acquired 2,000+ km. of 2D seismic data to promote the area.  This was successful with BHP farming-in.  As part of their commitment, BHP acquired 3,000 sq. km. of 3D seismic data and 5,000 km. of 2D seismic data. Their seismic program, one of the largest by a single company in the Philippines, resulted in several drillable targets.

In 2016, about 3,000 km of 2D data was acquired and processed in the shallow-water portion of the block. It also includes the acquisition of gravity and magnetic data. These new data aims to identify shallow-water drilling targets to complement the deepwater prospects earlier identified in SC 59.

PNOC EC now holds 100% interest and is farming-out the block.

12
From: http://pnoc-ec.com.ph/sc-75-northwest-palawan/

Service Contract No. 75 – Northwest Palawan

Project Location : Northwest Palawan Basin

JV Partners and Percent Equity :  PXP Energy Corp., former Philex Petroleum (Operator) 50%, PNOC Exploration Corporation 35%, PetroEnergy Resources Corporation 15%.

Project Description : SC 75 was a successful joint bid of Philex Petroleum (now PXP Energy), PetroEnergy, and PNOC EC for Area 4 under the 4th Philippine Energy Contracting Round awarded by the DOE on 27 December 2013. It covers an area of 6,160 sq. km. in the offshore Northwest Palawan Basin with water depths at 1,000 to 2,600 m. It is located west of SC 58 and north of SC 63.

Brief Background : The SC 75 Consortium conducted 2D seismic acquisition survey in 2014 and acquired about 2,235 km. of 2D seismic data over the block. It also acquired 2,337 km gravity and magnetic data aside from the reconnaissance satellite gravity data. These data were all processed and then interpreted to determine the prospectivity of the block.

However, there were uncertainties in continuing the exploration activities in the block being within the disputed area with China. On 9 September 2015, the DOE granted force majeure to SC 75 work commitments for Sub-Phase 2 effective in December 2015 until the DOE notifies PXP Energy to resume its petroleum-related activities.

13
General Discussion / Service Contract No. 57 – Calamian
« on: August 12, 2017, 05:17:06 AM »
Administrator's note: This thread has a companion on the forum's FB extension here: https://www.facebook.com/groups/rpdefense/permalink/1404328862986290/

====

From: http://pnoc-ec.com.ph/service-contract-no-57-calamian/

Service Contract No. 57 – Calamian

Project Location : Offshore Northwest Palawan

Nature of Project : Petroleum Exploration

JV Partners and Percent Equity :  China National Offshore Oil Company International Limited (CNOOC) – Operator  51%, PNOC EC 28%, Mitra Energy Limited (MITRA) 21%.

Project Description: SC 57 was awarded to PNOC EC on 15 September 2005. It covers a total area of 7,120 sq. km. in offshore Northwest Palawan and is situated around fifty (50) kms. northwest (NW) from the north-westernmost tip of Busuanga Island.

CNOOC farmed-in into SC 57 on 3 April 2006 acquiring 51% participating interest and operatorship while Mitra Energy farmed-in on 3 March 2006 getting 21%.  The Deed of Assignment to formalize their entry has yet to be signed by the President of the Philippines.

Brief Background : SC 57 is within the prolific NW Palawan block and is host to the Bantac I well, a non-commercial oil discovery by Occidental Petroleum.  With the farm-in of CNOOC and Mitra, additional 2,200 km. of 2D seismic data was acquired on top of the 3,300+ km. acquired by the previous contractors.

However, the request for approval of the Deed of Assignment to CNOOC and Mitra Energy has been pending since 2006 with the Office of the President (OP). SC 57 is currently under force majeure but exploration activities will resume once approval is granted.

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