Kabir X-1 discovery in Gambat South
Transcription
Kabir X-1 discovery in Gambat South
A monthly publication of Pakistan Petroleum Limited Vol.LX No.1 August 2015 60th year of publication Kabir X-1 discovery in Gambat South Shaheed Benazirabad akistan Petroleum Limited the operator of Gambat South Block with 65 percent working interest (WI) along with its joint venture partners Government Holdings Private Limited and Asia Resources Oil Limited with 25 percent and 10 percent WI, respectively recently announced another gas and condensate discovery at its exploration well Kabir X-1 located in District Sanghar, Sindh. Kabir X-1 was spud on April 24, 2015 and reached the final depth of 4,020 meters on June 28, 2015. Based on wire line logs, potential hydrocarbon bearing zones were identified in the Basal Sand of Lower Goru Formation. During testing, the well flowed 1.94 MMscfd gas along with 253 bbl/d condensate at 16/64 inches choke size and has been completed as a gas and condensate producer. n P D and CEO Syed Wamiq Bokhari visited Adhi Field on August 29. On arrival at the field he was received by MAF Tariq Hussain along with his team and representative of Pakistan Petroleum Workers Union (PPWU). M Gambat South Block Kabir X-1 Sanghar Matiari Bokhari visits Adhi Field MD and CEO meets staff at well Adhi 23 INSIDE Bokhari, accompanied by GM Projects Ghulam Farooq Maniar and SM Projects Sagheer Hussain from head office, proceeded to well Adhi 23 to review progress of drilling activity and had discussion with staff on various issues. Later, he addressed a Town Hall meeting arranged at the Executive Mess and met with representative of PPWU. 2 The bounty beneath (left to right) CE (Maintenance) Muhammad Shafqat, MD and CEO Syed Wamiq Bokhari, GM Projects Ghulam Farooq Maniar, SM Projects Sagheer Hussain and MAF Tariq Hussain at Adhi Field As a part of Management Audit Programme, MHSE Masood Sarwar conducted the Safety Observation and Feedback Tour with MD as an 4 High performance 5 Independence Day observed expert observer. During the audit, feedback was solicited from operational staff at the plant with regard to Health, Safety and Environment 6 Hands-on Experience compliance and areas of opportunities and improvement. MD along with Adhi Plant and Projects team also visited PlantI, II and III. n 11 A new look, a renewed vision 12 Target Risk The bounty beneath n order to enhance understanding of the process of reserves and resources evaluation and booking procedures as per the latest guidelines of Society of Petroleum Engineers (SPE) for Petroleum Resource Management System (PRSM), I The new guidelines for application of PRSM set by SPE and the World Petroleum Council (WPC) defines proved reserves as “those quantities of petroleum which, by analysis of geological and engineering data, can be estimated with reasonable certainty to be discussion on SPE, WPC, American Association for Petroleum Geologists and Securities and Exchange Commission’s regulatory guidelines. In line with the guidelines and the existing fact that exploration and production involves high- differentiating between resource and reserve, explained that reserves are typically more sharply defined than resources because of their more advanced position in the development life cycle and the greater amount of technical data that tends to be available to describe them. Even Dr. Birol M.R. Demiral from Schlumberger (sitting fifth from left) along with members of senior management and staff at the orientation session Training and Development in collaboration with Reservoir Engineering organized a fiveday workshop on ‘Resource and Reserve Evaluation’ between August 4 and 8 at the Pakistan Society for Training and Development, Karachi. Earlier on August 3, an overview of the training was provided to senior management, including COO and DMD (E&BD) Moin Raza Khan, Acting DMD (TS) Fareed Iqbal Siddiqui, CFO (F&P) Kamran Wahab Khan and 15 other team members at the head office with the objective of developing a basic understanding of SPE/ PRMS reserves and resources classification, its modules and objectives, to be subsequently shared with 21 geoscientists of the company. Both the overview and workshop were facilitated by Dr. Birol M.R. Demiral, who is the director of curriculum, reservoir engineering, for NExT Oil and Gas Training and Development, Schlumberger. 2 SE (Res) Kamran Imam (left) receives a certificate from facilitator Dr. Birol M.R. Demiral commercially recoverable, from a given date forward, from known reservoirs and under current economic conditions, operating methods and government regulations.” The course not only covered reserves estimating methodologies, including difference between resources and reserves, but also their classifications and definitions along with a guideline for application as well as risk and investment, the company’s geoscientists and engineers were provided the basic principles of resource and reserves evaluation to classify contingent and undiscovered resources, all having value, directly for current producing assets or future development opportunities. In either case, they have to be measured and managed in order to take fruitful decisions. Dr. Demiral, while so, he shared that reserve numbers are generally defined within a range, not as one fixed quantity. The range may be described qualitatively by deterministic methods or quantitatively by probabilistic methods. Probabilistic methods help ensure that quoted quantities are appropriate relative to the requirements of certainty. He also shed light on how to assist those responsible for estimating reserves or auditing those estimates for which a standard approach has been outlined, along with minimum qualifications requirement. The course exposed geoscientists and reservoir engineers to the latest and most accurate methods for obtaining the value of reserves and resources along with the management of deterministic and probabilistic methods for gaining an understanding of various reserves levels and their equivalence in both systems. n August 2015 crisis, being an event or a situation, can significantly affect business operations and services, which needs urgent and coordinated action to address the disruption and requires the activation of a Crisis/ Emergency Management System through a dedicated team. Crisis/ Emergency Management is a key management responsibility as the company is committed to safeguard people, property and interests of all its stakeholders by maintaining a strategy to assist the organization deal with any significant incident. In this vein, an Emergency Management System has been A Red lert a implemented at Pakistan Petroleum Limited (PPL) to respond to an operational disruption that affects business functions. A high level Incident/ Emergency Management Team has been formed to deal with any crisis, headed by DMD (AO) Syed Kaleem Akhtar as Chairman and includes other members of senior management and relevant staff. Departmental Managers are responsible to ensure that employees are aware of their role and act accordingly in case of an incident requiring response to any emergency situation. The head office level Crisis Management document has also been consolidated, to be referred and followed in case of an incident necessitating the declaration of emergency whereby the incident management team shall become active till the situation is normalized or the emergency situation is brought under control. It is envisioned that with strict compliance with the plan, incidents can be dealt with in a timely and coordinated manner with this high level team. n From the Editorial Desk B Factoring Risk usinesses today face a volatile and increasingly complex operating environment. The pace and impact of globalization, new competitive threats, oil price decline, recessionary pressures and toughening regulatory demands are unprecedented and are making the simultaneous execution and management of risks extremely challenging. Over the years, it has been observed that in those organizations where strategic and risk management activities are conducted in isolation and risk is a mere afterthought to strategy-setting, the consequences can be disastrous. The international financial crisis of 2009 is a prime example of what can happen when inherent risks associated with aggressive, growth-oriented market strategies are discounted, ignored or possibly never even considered. Industry experts believe that there are four broad categories of risk that can affect a company: hazard, financial, operational and strategic. Hazard risks involve destructive acts of nature or human, such as fire or theft. Although large companies are rarely driven out of business by hazard risk, this is not the case with smaller firms. Next is financial risk which pertains to market conditions such as commodity prices or loan defaults. Operational risks involve day-to-day business activities such as support functions, process structures, IT reliability and daily operations. Fourth and the last are strategic risks which relate to the fundamental value chain of the business such as product cycle and type, geo-political factors, core technology and corporate strategy. Looking at some of the key risk types through examples, a few observers consider the British Petroleum (BP) oil spill as a case of operational risk gone bad, which is not really accurate. Although the spill involved BP’s core operations, it was largely the result of the company’s strategic decisions which may not have taken into account the possibility of a spill and hence a gap remained in the processes including safety, to avert such a risk. So, was the BP oil spill an unfortunate outlier or an avoidable tragedy? Analysts consider it as the latter. The oil spill and other corporate failures are attributed in large part to August 2015 the shortcomings with respect to strategic risk. This risk if not assessed rigorously, preparations and responses if treated crudely will result in a hazy focus on active learning and corrective actions, which in turn creates a weak risk culture and strategic adverse impact. A common misconception about risk management is that it is only about protection against potential threats. In reality, effective risk management should encompass both ‘threats’ and ‘opportunities’ as seen in the case of Schlumberger Limited’s recent acquisition bid for Cameron International Corporation, which opened up an ‘opportunity’ in the backdrop of declining oil prices and ensuing drop in exploration and production (E&P) services demand. So what can organizations do? As a solution to addressing risk, Enterprise Risk Management (ERM) focuses on the management of strategic-level risks, both threats and opportunities, and has a strong link with a proactive risk assessment, defined risk ownership, response measures and robust performance management system. Risk management in Pakistan though quite advanced in the financial sector organizations is catching on in non-financial companies as more and more of them are realizing its importance, but it is still early days. The question for any company, particularly in the E&P sector, is not whether to take risks or not, but how to best manage the inherent technical risks through informed decision-making, robust controls, value creation, safetybased measures and defined capital allocation process. n For Correspondence: Editor, Progress Pakistan Petroleum Limited, 4th Floor, PIDC House, Dr. Ziauddin Ahmed Road, P.O. Box 3942, Karachi 75530, Pakistan Email: info@ppl.com.pk Website: www.ppl.com.pk UAN: 111-568-568 Fax: 92-21-3568-0005 & 3568-2125 Design and Production: Corporate Communications Department Photography: Abdul Hannan 3 High Board of Directors performance B olan Mining Enterprises (BME) achieved high sales of around 136,000 tonnes (t) of lump and fine baryte against budgeted 130,000 t during the year 2014-15 maintaining last year’s figures. Attempting to achieve excellence, during the last three years, BME has achieved new heights of business distinction BME has expanded its business during the last three years by exporting baryte ore and powder to Middle East, USA, Europe and Indonesia clearly indicative by the quantity of baryte ore and powder sold in the domestic and export market globally. Formed in 1974, BME is a 50:50 joint venture between Government of Balochistan and Pakistan Petroleum Limited. Over the years, BME has met 90 percent of the total barytes requirement of the oil and gas exploration companies operating in Pakistan and enhanced its production capacity from 50,000 to 150,000 t per annum to efficiently meet the increased demand of baryte to local as well as international market. BME has expanded its business during the last three years by exporting baryte ore and powder to Middle East, USA, Europe and Indonesia. n 4 The Board of Directors met at the head office in Karachi on August 24. (clockwise) CFO (F&P) Kamran Wahab Khan, Imtiaz Hussain Zaidi, Nadeem Mumtaz Qureshi, MD and CEO Syed Wamiq Bokhari, Chairman Waqar A. Malik, Muhammad Ashraf Iqbal Baluch, Aftab Nabi, Asif Baigmohamed, Shahbaz Yasin Malik and Company Secretary Danish Zuberi attended the meeting. Arshad Mirza and Saeedullah Shah participated from Islamabad through video conferencing Board Audit Committee The Board Audit Committee met at the head office in Karachi on August 18. (clockwise) MIA Fazal Hussain Gaffoor, CFO (F&P) Kamran Wahab Khan, HIA M. Arshad Siddiqui, Nadeem Mumtaz Qureshi, Muhammad Ashraf Iqbal Baluch and Aftab Nabi were present on the occasion. Saeedullah Shah participated from Islamabad through video conferencing BME Management Committee The 40th Regular Annual meeting of Bolan Mining Enterprises’ (BME) Management Committee was held at PPL’s head office on August 20. (clockwise) Secretary Mines and Minerals, Dr. Saeed Jamali, Additional Secretary Finance, Dr. Pervaiz Ahmed Nausherwani from Government of Balochistan, incoming RM-BME Dr. Muhammad Iqbal, outgoing RMBME Shams-ur-Rahman, Consultant Geologist BME Naseem Ahmed, DMF-BME Sadiq Buzdar, DCE (EE) Salman Murad, SMCP Nauman H. Tirmizi, COO and DMD Moin Raza Khan, CFO (F&P) Kamran Wahab Khan and MD and CEO Syed Wamiq Bokhari attended the meeting August 2015 On the pulse he 69th Independence Day was marked with national reverence at Pakistan Petroleum Limited’s fields on August 14, with hoisting of the national flag amid the chorus of T PEIC Mazarani Farooq Mohammad (fourth left) along with staff at Mazarani Gas Field Independence Day observed SM Kandhkot Mahboob Ali Khan (first right) leads the event at Kandhkot Gas Field the nation anthem and topical activities attended by the company’s field staff, local community members and area notables. The field premises were decorated with national flags and staff offered prayers for peace and prosperity of the company and the country. At Sui Gas Field (SGF) MSui Acting PEIC Mahmood Shah Muhammad (fourth left) with staff at Gambat South SMSui Ahmad Farooq Mahmood, MSui Qaiser Ali, Deputy Commissioner Dera Bugti Asadullah Kakar, local Chieftain Mir Ghulam Qadir, members of law enforcement agencies, notables of local community and Sui field staff were in attendance. Community members appreciated the efforts of both PPL and the local akistan Petroleum Limited (PPL) in collaboration with the District Government, Dera Bugti organized a cycling event ‘Tour de Dera Bugti’ on August 14 to commemorate the Independence Day. The competition among 25 cyclists from Balochistan commenced from the house of Deputy Commissioner (DC), Dera Bugti Asadullah Kakar and culminated at (left to right- front row) MSFGCS Fouad Asghar, CO to DSG Lt Col M. Ayaz, Commandant Sui Rifles Col Rao Imran, Chieftain Mir Ghulam Muhammad Colony, Qadir, Deputy Commissioner, Dera Bugti Asadullah Kakar, District & Sui where a large Session Judge Abdul Wahab Kakar, SM Sui Farooq Ahmed Mahmood and SAO Kamran Sher gathering of local government for community was present. organizing the healthy Later, a prize distribution ceremony took place at Officers Club, Sui Gas Field arranged by PPL. activity. n Qaiser Ali hoisted the national flag and later as chief guest attended an event at Sui Model School and Girls College (SMSGC). A speech contest, skits, national songs and August 2015 S SMO Dr. Umar Muhammad Farooq checks the blood pressure of MSui Qaisar Ali Tour de Dera Bugti P ui Field Hospital (SFH) observed the ‘World Hypertension Day’ on August 30 with topical activities arranged at the Officers Club, Sui Gas Field and Sui Model School and Girls College. ‘Know Your Blood Pressure’ was the theme for 2015 with the message of controlling blood pressure, before it controls you. Slogans and banners were placed at prominent locations along with a medical camp to monitor blood pressure. Acting MMS-Sui Dr. Ashfaque. A. Nadeem informed staff during his address that globally hypertension is the third leading cause of death tableaus were presented at SMSGC which were appreciated by the audience comprising SGF heads of departments, officers, faculty members and students. Ali also distributed prizes among position holders of Secondary School Certificate Part-II examination 2015 held under the supervision of Balochistan Board, Quetta. n and one out of eight deaths occurs due to uncontrolled blood pressure amounting to 1.7 million deaths annually. Worldwide 1.2 million people have hypertension with 50 percent of the population above 50 years being hypertensive. Further, quoting data from the Pakistan Medical Association, he shared that in Pakistan hypertension is the main cause of heart diseases and only 3 percent of all hypertensive population have their blood pressure adequately controlled. Also, one in three people above the age of 50 years is hypertensive, which reflects the importance of monitoring blood pressure. SMO Dr. Allah Bakhsh presented on ‘Hypertension – a Silent Killer’ detailing the prevalence, symptoms, complications as well as prevention. A question and answer session was facilitated by SMO Dr. Umar Muhammad Farooq and Dr. Bakhsh. M-SFGCS Muhammad Fouad Asghar concluded proceedings appreciating SFH efforts. MSui Qaisar Ali was chief guest on the occasion with departmental heads also present. n 5 Hands-on Experience fter culmination of the eight week-sessions on English Language and Communication Skills and technical domains, 19 Iraqi A delegates will gain exposure at the company’s Adhi Field (AF) for hands-on experience at operational plants and well sites. Civil Engineer at MdOC, Hiba Shihab Ahmed (left) with E (Civil) Ameer-un-Nisa at the Design & Construction Department MdOC’s Assistant Accountant Mustafa Abbas Khadim during on-job training in Finance delegates of Midland Oil Company (MdOC) moved on to the on-job training phase at various departments and field location at Pakistan Petroleum Limited (PPL) commencing August 17 till mid-October. Among the 19, 14 delegates have been posted to assorted head office departments, including Exploration, Production Technology, Design and Construction, Projects, Information Technology, Internal Audit, Procurement and Finance. The remaining five 6 (left to right) MdOC’s Engineer Layth Ahmed Hussein and Senior Engineer Obaid Jadaan Fuhaid with Trainee Engineer (Prod) Ahsan Mir and EIP Halar Tariq at Adhi Field According to MdOC, PPL is the pioneer and the only foreign company to undertake this capacity building initiative for Iraqi delegates on behalf of its wholly owned subsidiary PPLAsia E&P B.V. (PPL-Asia). The training is in compliance with the Exploration, Development and Production Service Contract signed between PPLAsia and MdOC in November, 2012 for Block-8, Iraq. The programme is part of the Training, Technology and Scholarship Fund established by PPL-Asia under the agreement for enhancing technical and support skills, enable research and development besides technical and academic development in relevant areas. The participants at both head August 2015 Theoretical round he earlier round focusing on technical and support disciplines for the 20 Iraqi delegates was organized between June 22 and July 16. The English Language and Communication Skills session was held at the Institute of Business Administration (IBA) and facilitated by experienced trainers Syeda Faiza Hassan and Farhanuddin Raja from the institute’s Skill Development Programme. Hassan focused on reading and listening skills while Raja aimed at improvement in writing and speaking. Weekly quizzes and assignments were part of the learning. Two Arabic interpreters from the Arabic Society, Fahad Ghazi and Azra Khoso were engaged for the course, but as it progressed the participants were encouraged to only speak in English. Subsequent to the soft skills workshops, delegates were divided into two groups for professional and technical skills training at Pakistan Society for Training and Development (PSTD) and NED University of Engineering and Technology (NED), respectively between July 17 and August 1. PSTD arranged the professional skills development workshops on Human Resource Management, Finance for Non-Finance Managers, Internal Audit and Materials Management. On the other hand, technical session at NED spread over two weeks strengthened theoretical concepts and laboratory skills in the areas of Drilling, Production and Reservoir Engineering, Project Planning and Design and Construction Management, Geology and Geophysics and Information Technology. n T GME-F Hayat Ahmed (first right) gives an orientation to the Iraqi delegates at the head office working in MdOC’s Projects Department. Similar views were also shared by MdOC’s Computer Engineer, Ahmed Hussein Oleiwi, who is receiving training in his area of expertise. Ahmed and Oleiwi have been assigned to Design and Construction and Information Technology, respectively. Ahsan Mohammed Saeed, a Worksite Geologist at MdOC was pleased with his Iraqi delegates being briefed by the Human Resources staff. (clockwise) Mohammed Mustafa Hammood, Ali Abdulazeez Hussein, SHRO Amir Kazmi, HRO Fawad Muhammad Iqbal, Aqeel Taher Fahad and Mohanad Ahmed Jabbar office and field were provided an overview and tour along with sharing of tasks and objectives. Each delegate has been tasked with a specific assignment under a supervisor. “We have been thoroughly briefed on Google Art, Autocad and MS Projects, which is very useful,” stated Hiba Shihab Ahmed, a Civil Engineer August 2015 MdOC’s Engineer Sabreen Ali Hayder at the Internal Audit Engineer Drilling, Badeea Abdulsattar Mohammed of MdOC at well Adhi 23 experience at Exploration. “There is a lot of activity here and I have been given data of Kandhkot Gas Field, which I am processing through advanced software, not available back home”, he shared. At AF, staff explained details of the plant to the delegates from wells feed to the final product rundown and storage. Information on wells and their operation along with function of SCADA system, which is used to shut down wells from a remote location was also provided. The participants were also taken to well sites, where Quality, Health, Safety and Environment procedures, specifically ‘Permit To Work’ for safe execution of maintenance jobs on running plants was explained. The programme is geared towards upgrading and enhancing relevant skills, aiding the visitors towards higher productivity and employability. As part of traditional and cultural hospitality, the participants were provided recreational tours along with visits to historical sites in Islamabad, Lahore and Karachi besides the hill-station in Bhurban. n 7 Federal Minister visits head office ederal Minister for States and Frontier Regions, Abdul Qadir Baloch visited Pakistan Petroleum Limited’s head office on August 31. Baloch was greeted by MD and CEO Syed Wamiq Bokhari and GMCS Sultan Maqsood and held discussions with them on matters of mutual interest. The minister was also briefed on the company’s activities and Corporate Social Responsibility projects. Bokhari thanked the minister for his visit. n F MD and CEO Syed Wamiq Bokhari (right) presents a souvenir to Federal Minister for States and Frontier Regions, Abdul Qadir Baloch. GMCS Sultan Maqsood is seen in the centre Commissioner Kalat Dr. Mohammad Akbar Herifal visited the head office of Pakistan Petroleum Limited on August 19 along with other local government officials. Matters pertaining to security, hiring of locals, lands acquisition and social welfare were discussed at the meeting. (clockwise) SMGeoS Anwar Farid, Deputy Commissioner (DC) District Lasbela Fawad Ghaffar Soomro, DC Washuk Khan Muhammad Bangulzai, Herifal, DMD and COO Moin Raza Khan, GME-F Hayat Ahmad, SMSA&L Furqanuddin Sheikh, MCD Muneer Kamal Jadun, CL&LO Zubair Ashraf and RM-BME Muhammad Iqbal raining and Development organized a workshop on ‘Improving Personal Effectiveness’ between August 27 and 28 at the Royal Rodale Club, Karachi. The session, attended by 14 staffers, was facilitated by freelance trainer Faizan Ahmad, who attempted to inspire, energize and empower participants to enable higher productivity in the workplace. T Enhancing productivity The workshop was geared to assist employees identify their self-strengths and weaknesses and learn the usage of different tools for enhanced personal effectiveness. Areas of self-motivation, one’s capabilities and limitations, effective communication and listening skills and management of tasks were also covered. Through interactive sessions and 8 exercises, the session was designed to aid participants in building self-confidence, improving self-image, alter limiting beliefs about oneself, knowing own strengths, being assertive and managing time. Also becoming an effective team player, solving problems, making decisions and competencies required for success in personal and professional lives were shared. n August 2015 Skill-up n continuation of the soft skills training sessions held in June for participants of the Extended Internship Programme (EIP), Training and Development organized two further sessions on Communication and Interpersonal Skills (C&IS) and Managing Personal Growth and Career (MPG&C) on August 3 and August 12 respectively. The session on MPG&C was held at the Norwegian Center of Excellence in Petroleum Studies, NED University of Engineering and Technology (NED), Karachi. The one-day course attended by 19 internees was facilitated by management consultant, Shamim Zafar. Enhancing performance, adapting to the changing demands of the job, exploring opportunities for new directions within the company along with applying skills across the full spectrum of the business were covered during An EIP intern receives a certificate from Chairman Petroleum Engineering the workshop. Department, NED Dr. Abid Murtaza Khan. (left to right) EIP intern, STro Mushtaq The C&IS session, held at Muhammad Patni, Trainer Shamim Zafar, the Pakistan Society for MT Abdul Bari Nizamani and Khan Training and Development and attended by 65 internees, was facilitated by founder and lead trainer of the Institute of Training and Consultancy, Arshi Ahmad Aziz. The workshop focused on individual creativity, boosting credibility and improving communication skills. The interactive sessions and exercises explained to participants how to develop a systematic approach to communication, give and receive messages, understand the importance of listening and exploring and maximizing the potential and significance of non-verbal communication. Pakistan Petroleum Limited (PPL) and NED earlier signed a Memorandum of Understanding in August 2014 launching EIP for capacity building of young Pakistani professionals from a cross section of society under PPL’s Corporate Social Responsibility programme. The workshops are part of the 12-month EIP. n I Procurement matters raining and Development and Material and Contracts (M&C) departments organized a oneday session on the key strategic considerations for the application and implementation of integrated procurement management practices and Public Procurement Regulatory Authority rules on August 19 at the head office. SPOs Ali Ahmed Khawaja, Saad Riaz Khamisani and Mahfooz Alam from M&C facilitated the session which was attended by more than 10 employees from various departments. The workshop was designed to offer practical development and implementation approach T PPL People for a procurement strategy, which ultimately affects the overall direction of the organization. The session incorporated the use of latest business process models and their relationship with segmentation and demand planning. The integrated relationship across functions was also considered with regard to the impact of sourcing decisions, supplier selection, delivery decisions, risk, performance measurement and profitability. The facilitators responded to queries and provided hands-on solutions to issues related to service and purchase requisitions, technical evaluation and releasing strategies. n Achievements n n Imran Shaikh, Senior Assistant, Legal, completed his Masters in Business Administration from Federal Urdu University of Arts, Sciences & Technology, Karachi Irfan Asghar Bandesha, Senior Technician (Boiler), Purification Plant, Sui Gas Field, completed his Masters in Business Administration from Virtual University of Pakistan Retirements n n n Umar Baksh Bugti, Driver, Sui Field Gas Compressor Station, retired with effect from August 24, after 30 years of service Muhammad Bux, Sweeper, Sui Gas Field, retired with effect from August 16, after 26 years of service Haji A. Karim Bugti, Senior Assistant, Sui Field Gas Compressor Station, retired with effect from August 14, after 30 years of service Birth n A girl, Fatima Arif, was born to Muhammad Arif, Procurement Officer, Sui Field Gas Compressor Station on July 6 August 2015 Outgoing RM Bolan Mining Enterprises (BME) Shams-ur-Rahman receives a memento from incoming RM BME Dr. Muhammad Iqbal (left) at Rahman’s farewell reception held on August 25 at the Quetta Club. Rahman retired on July 19 after more than 31 years of service with the company 9 Gives more vim and vigor workout is like nature’s energy drink, firing up your brain and body so you feel more alert and alive. “Exercise puts your body in a state of arousal, which translates into more vitality and a greater A 12 ways exercise k o lo u o y s e k a m and feel younger sense of well-being,” says Director of Kinesiology at Chapman University in Orange, California, USA Frank Frisch. It is the kind of pep in your step that makes you feel like you have peeled off a decade or two. Keeps skin soft and glowing dewy sheen on your cheeks thanks to all the sweat dripping off your forehead may not be the only way fitness keeps your skin young. Researchers at McMaster University in Ontario reveals after a study that exercise creates body substances that help slow aging in skin, though they say more research is needed to learn how exercise changes skin composition. A Improves posture hanks to muscle loss and bone density changes, your posture takes a hit as you age. Counteract this with strength training, which builds muscle and bone health, especially in your core and along your spine, so you naturally stand taller and shave years off your appearance. T Improves flexibility ging doesn’t just make your opinions more inflexible - it makes your muscles and joints more fixed in place as well, leaving you feeling stiff and rickety. Regular workouts, A 10 especially stretching-oriented routines such as yoga and Pilates, keep you loose and bendy. Boosts mood ou’ve heard of runner’s high, and that blissful mood boost can happen during any sweat-inducing cardio workout. It seems to come down to endorphins: the body chemicals your system cranks out when you are active. And the confidence kick you get helps you feel happier too. Y Helps you sleep soundly estful sleep is like a fountain of youth, and exercise helps you achieve it. “Research shows that regular exercisers fall asleep more easily and are more likely to experience deep REM sleep,” says Frisch. Sleeping well helps all the systems in your body function optimally, so you are less likely to feel stressed and then toss and turn all night. R Keeps metabolism high etabolism naturally slows as you age, so it is harder to avoid pound creepage as the years pass. Luckily scheduling regular workout sessions helps you increase the total number of calories you burn, helping you M The powers of a steady fitness routine are impressive: regular exercise can help you build stronger muscles, stave off chronic illnesses, and make your clothes fit a whole lot better. But there is another benefit of physical activity that deserves to be highlighted: the way even moderate amounts seem to shave years off your age to the point where you look and feel younger than you are. Just reading this list will motivate you to never skip a gym session again maintain a steady, healthy weight. Research says that more muscle you have, the higher your calorie burn is. Slows cell aging xercise doesn’t just make you feel younger - it may actually turn off the aging process in your chromosomes. It has to do with telomeres, the caps at the end of chromosomes that control aging. Recent studies have found a link between regular exercise and the lengthening of the telomeres, suggesting that exercise can slow the clock so you live longer. E Reduces belly fat s you creep into middle age, fat that used to primarily land on your hips and thighs starts to increasingly show up along your belly; this is especially true after menopause. This visceral fat creates conditions such as diabetes and heart disease. A 2011 Duke University study found that cardio workouts can lead to more belly fat loss than strength training workouts or a combination of strength training and cardio. A Relieves stress long outdoor run or scenic hike can distract you from anxiety and worries. But there may be a physiological reason A exercise lowers stress levels. Also, more meditative forms of exercise, such as yoga or Tai Chi, encourage mindfulness along with moving your body. Enhances memory s years pass, it is normal to become forgetful. But research suggests that you can fight brain fog with fitness. Researchers writing in the British Journal of Sports Medicine in 2014 found that regular aerobic exercise seems to increase the size of the hippocampus, a part of the brain associated with memory. A Protects the heart and makes it efficient ike all muscles, your heart gets weak and flabby with inactivity. As a result, it has to work harder to pump blood throughout your body, racking up more stress and leaving you feeling easily fatigued and winded. Good thing even moderately intense exercise (like a brisk 30-minute walk) can make your heart stronger, so it pumps oxygen-rich blood more efficiently through your system, resulting in less strain. Exercise also improves levels of HDL, or good cholesterol, the kind that protects your heart from cardiovascular disease. L — Esther Crain/ www.health.com August 2015 ENERGY BRIEFS US crude oil hits six and a half year low S crude oil fell to its lowest in almost six-anda-half years on August 14 as huge stockpiles and refinery shutdowns added to concerns about global oversupply and slowing economies in Asia. Oil had already tumbled more than 3 percent on August 13, driven by a report that stocks at Cushing, Oklahoma, the delivery point for US crude futures, rose more than 1.3 million barrels in the week to August 11. US crude was down 30 cents at USD 41.93 a barrel. The contract earlier hit an intraday low of USD 41.35, its lowest since March 4, 2009. Brent crude traded at USD 49.00, down 22 cents and some way off its 2015-low of USD 45.19 reached in January. US crude is much weaker than the North Sea benchmark, partly due to a spate of refinery outages that has sapped US demand. Goldman Sachs said that a weaker Chinese yuan was putting downward pressure on all commodity markets. “The (yuan) devaluation has been important for commodity markets and we believe it signals that global macro conditions have changed,” Goldman Sachs said in a note to clients. Analysts said that prices could fall further. “The lowest crude prices in six years might not be enough to put the brakes on the US supply growth. US shale players are actively cutting cost and some players are profitable at less than USD 30 per barrel,” ANZ Bank said. On the demand side, China´s crude oil imports have so far remained strong as authorities take advantage of low prices to build up strategic reserves and consumers kept spending despite the — Reuters slowing economy. U Iran oil output could jump sharply postsanctions ran could raise its oil output by as much as 730,000 barrels per day (bpd) from current levels fairly quickly after sanctions are removed, the International Energy Agency (IEA) said on August 12. The West´s energy watchdog estimated that Iranian oilfields, which pumped around 2.87 million bpd in July, could increase production to between 3.4 million and 3.6 million bpd within months of sanctions being lifted. “While significantly higher production is unlikely before next year, oil held in floating storage - at the highest level since sanctions were tightened in mid2012 - could start to reach international markets before then,” the IEA said in a monthly report. Iranian Oil Minister Bijan Zanganeh has said Iran expects to raise oil output by 500,000 bpd as soon as sanctions are lifted and by a million bpd within months. Iran´s July production figures were 50,000 bpd higher than in June, the IEA said. The report by the Paris-based IEA suggested any increase in output would probably be more modest than Iranian estimates, and said the Islamic Republic would require massive investment to raise output capacity. Iran has said it hopes to secure nearly USD 200 billion worth of oil and gas projects with foreign partners by 2020. Iran and six world powers agreed a deal in July to curb Tehran´s nuclear programme, but sanctions imposed in 2012 will not be lifted until Iran has complied with all the terms of the pact, and the I agreement has to be ratified by the US Congress. This is not expected before the end of December and analysts say they may still be in place at the end of the first quarter of 2016. Exploiting Thar coal reserves — Reuters he precious Thar coal is lying unexploited due to want of coordinated efforts and the government should consider establishing a coal ministry to exploit the potential, suggested the patron of Islamabad Chamber of Small Traders, Shahid Rasheed Butt on July 21 in Islamabad. Speaking to the business community, he said Pakistan had emerged as one of the leading countries, seventh in the list of top 20, in terms of reserves after the discovery of lignite coal. “Coal reserves estimated at 175 billion tons were discovered 23 years ago but these could not be put to use to date despite the fact that they could meet the nations and neighbouring countries’ requirements for centuries.” “Pakistan is yet to claim any success on the coal front, when we know that coal has met nearly half of the rise in global energy demand over the last decade. Its demand is growing faster than all the renewables with 1,004 billion tons of reserves still left, equivalent to 130 years of global output.” He highlighted the fact that the use of coal in India continued to rise and by 2025, it would overtake the United States as the world’s largest consumer. “This means India will need more coal imports and Thar coal may be its most economical source.” — PPI T A new look, a renewed vision omen Welfare Centre (WWC), established and operated by Pakistan Petroleum Limited (PPL) for nearly a decade now at Sui, District Dera Bugti, has been shifted to its new premises at the Vocational Training Institute (VTI) located within the limits of Taaleem Foundation Grammar School (TFGS), Sui, since July. The move is in line with the company’s corporate social responsibility strategy to maximize outreach and benefit to target communities through bringing in new development and research to on-going initiatives and ensuring sustainability on a long-term basis. WWC was initiated in a makeshift facility in 2006 with the aim to provide learning opportunity in income generation skills to young women in Sui who could not obtain/ complete formal education. Gradually, the centre got increased attention W August 2015 from local women, 400 of them have already benefitted, who were trained in vocational skills, including stitching, embroidery and cooking, and provided with a monthly stipend besides opening up a window to showcase their products to the market under the management of Frontier Corps. Considering the potential of WWC to accommodate increased enrolment and diversify trades, PPL decided to develop and furnish a purposebuilt facility to provide an enabling teaching and learning environment to incoming trainees. For this, the company engaged Taaleem Foundation, a Balochistan-based non-profit organization, which is running TFGS and similar educational facilities in the province, to oversee WWC’s operations in the new set-up. The idea of a purpose-built and equipped facility for WWC spurred a new dimension to vocational training for local youth in District Dera Bugti, broadening the scope, quality and sustainability of services. This led to development of a comprehensive skills enhancement programme under the umbrella of a state-of-the-art VTI for not only women but also men in trades that are viable with increased income potential. The focus for training women remains on imparting both traditional and modern skills, including embroidery, use of computer, basic adult literacy, marketing and accounting, so that trainees are equipped to manage the supply chain from developing products to handling their marketing. Under the current set-up, VTI will proactively focus on marketing of products for sustainability of its programme as well as maximizing incentives for trainees. WWC with its new location and management, currently enrols 30 trainees for a sixmonth coursework. n 11 PRODUCTION PPL-operated Fields July, 2015 Sui Gas Field Raw Gas Average/Day Maximum/Day Balochistan (Million Cubic Feet) 430 440 Adhi Field Target Risk I MD and CEO Syed Wamiq Bokhari (first left) along with senior management and staff at the close-out session n line with management’s efforts for creating alignment and achievement of its Strategic Objectives, the Annual Risk Management (ARM) review was held during the month of August. The review was coordinated by Enterprise Risk Management (ERM) function and an external facilitator Zaid bin Zeeshan of Inclusive Consulting was engaged for the purpose of independent assessment and alignment with international best practices pertaining to ERM. A kick-off brainstorming session was held on August 13 at Pearl Continental Hotel, Karachi in order to gather cross- risks. Ranking was based on consistent evaluation through the company’s proposed Risk Heat Map and Consequence Matrix. During this session, participants also developed a consensus regarding ownership of identified risks. Subsequently, focus sessions were held with respective Risk Owners (Assets and Functional teams) to deliberate and document existing and planned mitigation actions to address ‘Extreme’ and ‘High’ impact risks. Risks were assessed at both Inherent and Residual levels, considering the effectiveness of existing measures as well as the Consultant and facilitator, Zaid bin Zeeshan engages senior management during the session functional inputs of Pakistan Petroleum Limited’s (PPL) senior management to identify and rank key enterprise-level 12 potential impact on PPL’s Strategic Objectives. Those considered beyond acceptable levels were further contemplated for additional measures based on which action plans were documented. A close-out workshop for the ARM review was held on August 25, attended by MD and CEO Syed Wamiq Bokhari, to obtain a collective buy-in for identification, assessment and treatment/ mitigation of those risks with ‘Extreme’ or ‘High’ impact levels. Focus was placed on the importance and linkage between the planned risk management activities in line with Strategic Objectives and risk ownership translated into functional Balanced Scorecard(s). The exercise was completed with valuable and active participation from senior management and functional teams, including nominated Risk Champions. The outcome of the collective and crossfunctional review has been summarized in the form of PPL’s Enterprise Risk Register, which will be monitored by the Board Enterprise Risk Committee through the ERM function. The review was appreciated by participants in terms of creating the required awareness level at the management and working levels, being an indicator of the risk culture which is planned to be enhanced as Risk Management system achieves maturity. The efforts were also appreciated by the facilitator, who acknowledged that PPL is leading the way in the local industry with regard to the stage of ERM understanding and initial implementation. n Punjab (Barrels) NGL Average/Day 2450 Crude Average/Day LPG Average/Day GAS Average/Day 3643 (Tonnes) 156 (Million Cubic Feet) 41 Kandhkot Gas Field Sindh Mazarani Gas Field Sindh Raw Gas Average/Day Maximum/Day Raw Gas Average/Day Maximum/Day (Million Cubic Feet) (Million Cubic Feet) Chachar Gas Field Raw Gas Average/Day Maximum/Day Condensate Average/Day Gas Average/Day Kinza (Gambat South) Sindh 3 4 Sindh (Barrels) 92* (Tonnes) 0.5 (Million Cubic Feet) 17* Raw Gas (Million Cubic Feet) Average/Day Maximum/Day 4 5 (Million Cubic Feet) Adam Field LPG Average/Day 187 191 Sindh 2 3 *This includes production figures from Adam West X-1 (Hala Block) August 2015
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