Connect with us

Mubadala Petroleum Awards EPCIC Contract to Nippon Steel and Sumikin Engineering

Published

on

Mubadala Petroleum, a wholly owned subsidiary of Mubadala Development Company, announced that it has awarded a platform engineering, procurement, construction, installation and commissioning (EPCIC) contract to Nippon Steel and Sumikin Engineering Co. Ltd. (NSSE). The EPCIC contract covers the Nong Yao oil field development in Block G11/48 in the Gulf of Thailand.

In August 2013, the Sovereign Wealth Fund Institute reported that Mubadala Petroleum had decided to develop Block G11/48, but was still in negotiations regarding the contract for platform construction. The location of the concession is 165 km offshore in depths of 75 meters.

When questioned on the oil production from the facility, a spokesperson from Mubadala responded immediately via email stating, “peak rates are expected to reach approximately 10,000 barrels of oil per day (bopd) within a few months of first oil.” But the development which, “consists of a Wellhead Processing platform (WPP) and Wellhead Platform (WHP) with interconnecting pipelines to a Floating Storage and Offloading vessel (FSO) will be capable of producing up to 15,000 bopd.

Mubadala Petroleum, the operator of the concession, holds a joint interest in the concession with KrisEnergy Ltd. KrisEnergy claims a 25% working interest, with the rest being held by Mubadala Petroleum.

“We are pleased to be making headway,” said Chris Gibson-Robinson, KrisEnergy’s Director of Exploration & Production of the Nong Yao development. “We declared [sic] final investment decision in August last year and preliminary fabrication work commenced in November.”

NZ Super Names Three New Board Members

Published

on

New appointments have been made to the Board of the Guardians of New Zealand Superannuation Fund (NZ Super). The appointments were made on July 19, 2018. The three new board members are Catherine Drayton, Simon Botherway and Henk Berkman.

According to the NZ Super press release, “Simon Botherway’s appointment runs from 1 August 2018 to 30 September 2021. He is a professional director with a history in investment, investment regulation and supervision. Other board roles have included his current position as Chair of Serko, a director on Callaghan Innovation and previously being the Chair of the FMA Establishment Board and a member of the Securities Commission.

Henk Berkman will serve from 1 October 2018 to 30 September 2022. He has been Professor of Finance, Department of Accounting and Finance at the University of Auckland since 2008. Mr Berkman has held previous professorial positions at Massey University, University of Sydney and the University of Maastricht.

Catherine Drayton will serve from 1 November 2018 until 30 September 2022. She is a Christchurch-based director who previously led the Assurance and Advisory Practice for PwC in Central Eastern Europe. Her public sector governance experience includes her current role as Chair of Christchurch International Airport and as a member of the University of Canterbury Council. Her experience as a Director of Ngai Tahu Holdings has provided her with iwi governance experience.”

Continue Reading

AIMCo Names Former Talisman Energy Executive to Board

Published

on

The Alberta Investment Management Corporation (AIMCo) appointed Jacqueline (Jackie) Sheppard as a member of the board of directors for a term set to expire on June 30, 2021. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

Continue Reading

Grant & Eisenhofer Reveals Fortis Investors to Receive $1.5 Billion in Mega Settlement

Published

on

Law firm Grant & Eisenhofer won a landmark case for its clients after a seven-year legal duel in Dutch courts. On July 13, 2018, the Amsterdam Court of Appeals officially approved the largest securities settlement ever reached in Europe, paving a path for international insurance company Ageas N.V./S.A. to begin payment of US$ 1.5 billion (€1.3 billion) to multiple groups of institutional and individual investors from Europe and the United States. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

Continue Reading

Popular

© 2008-2018 Sovereign Wealth Fund Institute. All Rights Reserved. Sovereign Wealth Fund Institute ® and SWFI® are registered trademarks of the Sovereign Wealth Fund Institute. Other third-party content, logos and trademarks are owned by their perspective entities and used for informational purposes only. No affiliation or endorsement, express or implied, is provided by their use. All material subject to strictly enforced copyright laws. Registration on or use of this site constitutes acceptance of our terms of use agreement which includes our privacy policy. Sovereign Wealth Fund Institute (SWFI) is a global organization designed to study sovereign wealth funds, pensions, endowments, superannuation funds, family offices, central banks and other long-term institutional investors in the areas of investing, asset allocation, risk, governance, economics, policy, trade and other relevant issues. SWFI facilitates sovereign fund, pension, endowment, superannuation fund and central bank events around the world. SWFI is a minority-owned organization.