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Aug 2015

 nother area that ONGC is focusing on is exploration of Basement rocks.
8The hydrocarbon potential in such rocks in the Western Offshore assets (Archean Basement, Deccan Basalt) and the Borholla-Champang fields are are already well known.
 8Commercial presence of hydrocarbons has been established in prospects like - Padra, Karjan, Halisa, Chadra and Mansa in the Cambay basin.
8Hydrocarbon occurrences in basement rocks have been found in Mattur, Pundi, Vadatheru and Pondichery Offshore, and recent commercial discoveries around Mandam and Portonova Highs have rejuvenated exploration thrusts on Basement exploration.
8A collaborative research project with University of New South Wales (UNSW), Australia for similar hydrocarbon potential in the Heera field. 
8During 2014-15, thirteen wells were drilled for Basement exploration in the Western Of fshore basin, Cauvery and A&AA basins. Out of these, five wells proved to be hydrocarbon bearing including BH-69 & BH-72 in Western O fshore.
8ONGC says it is now focusing on drawing up and effective  Basement exploration strategy through special studies and modelling.
8A total of 12 wells has been planned for drilling during 2015-16.
 Click on Repots for more Details
ONGC is betting heavily on the KG Basin to take it out of the current stagnation in production.
 8Geography wise opening reserves for the year
 8Geography wise production for the year
 8Geography-wise closing stocks
 The data is given in terms of
 8Crude
 8Gas
 8Total Oil Equivalent estimate
 Click on our Reports section for more Details
The scope of work includes:
8Laying, testing and commissioning of 16”/12”/8” NB diameter pipeline of approximate length of 238 km with construction of despatch facilities, intermediate pigging stations, sectionalizing valve stations and receiving facilities 
8Work mainly includes installation of scrapper traps, modification works at existing terminals or stations and associated work.
8The associated work includes piping, corrosion monitoring, telecom, civil, structural, temporary cathodic protection, hookup with existing facilities, testing and commissioning along with all associated work as required. 
8The scope of work also includes station piping work, hook-up with existing pipeline facilities including but not limited to construction management, HSE and quality management, survey, NDT and destructive testing 
8Also, Hydro-testing, dewatering, drying, pre-commissioning, commissioning and gas-in including construction and installation of related facilities for various pipeline sections in the region will be part of the job.
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Currently only Phase-1 work is to be be completed . This phase will consist of replacement of 238 km of pipelines is further divided into three parts -- Part A, B and C. In the entire phase, a total of six pipeline sections will be replaced.
 8Part A consist of Ankleshwar-Baroda pipeline of diameter 16” and length of around 97 Km.
 8The Dabka-Dhuvaran and  Dabka-Gandhar pipelines are comprised in Part B with diameter 12" and a length of around 38 km and 47 km respectively.
 8The third part, Part B comprising of three pipeline section namely Chokari - Undera, Dabka - Sarsawani and  GNAQ - Jambusar T-Point piplines.
 8The Chokari - Undera pipleine with 12" diameter is around 26 km long.
 8The Dabka - Sarsawani and GNAQ - Jambusar T-Point pipelines are of diameter 8" having a approximate length of 17 km and 13 km respectively. Details
GAIL is planning to replace selected old gas pipelines in its distribution networks on the basis of their present heath status in Baroda region.
 8In all, the company will replace about 475 km of natural gas pipeline and in phase-1,  about 238 km of pipelines will be replaced.
 8The replacement of the pipelines will be done on the basis of completion of design life, thickness losses, design compliance with PNGRB regulations and piggability status of the pipelines.
 8As per the current status of the pipelines, approximately 74 pipelines will be replaced which include a wide range of length from 0.1 km to 96.6 km and diameters from 2” to 14”.
 8MECON has been engaged by GAIL to carry out design, engineering, procurement, inspection and project management consultancy work required for replacement of the pipelines
 8Phase-1 will be completed in fifteen months in terms of mechanical completion including mobilization period of one month and thereafter one month for commissioning and Gas-In.
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ONGC has accreted 215.65 MMTOE of in place volume of hydrocarbon in the domestic basins in 2014-15
 8As on April 1, 2015, in-place hydrocarbon volume of ONGC as a group stood at 9,283.84 MMTOE; up by 4.2% at 8,912.81 MMTOE in 2013-14 .
 8The ultimate reserves (3P) accretion in ONGC operated acreages during 2014-15 has been 70.98 MMTOE and 2P reserve accretion has been 61.06 MMTOE.
 8The total gross value reserves has grown  from Rs 8,145,46 crore in March 2014 to Rs 8,317,43 crore in March 2015.
 8The present discounted value has also gone up from Rs 1,446,68 crore in March 2014 to Rs 1,570,90 crore in March 2015.
 Click on the Reports section for more Details
ONGC's year-end reserves have been estimated by the Reserves Estimation Committee (REC) which follows international reservoir engineering procedures consistently.
 8The company has adopted the deterministic approach for the reserves estimation in consonance with the guidelines of the Society of Petroleum Engineers (SPE).
 8The volumetric estimation, which uses reservoir rock and the fluid properties, is the main process by which in place hydrocarbons reserves are calculated.
 8As a field matures with reasonably good production history, then the performance method, using material balance, simulation and decline curve analysis, is applied to get a more accurate assessments of reserves.
 8The gas major uses the services of the third party agencies who adopt the latest industry practices for their evaluation.
 8The annual revision of the estimates are based on the yearly exploratory and development activities and results thereof.
 8New in place volume and the ultimate reserves are estimated for the new field discoveries or from the new pool discoveries in  the already discovered fields.
 8Also, appraisal activities lead to the revision of estimates due to collection of new sub surface data.
 8Similarly, reinterpretation exercises are also carried out for old fields through the updation of static and dynamic models and performance analysis and this eads to changes in reserves.
 8Intervention of new technology, change in classifications and contractual provisions also necessitate a revision in the estimation of reserves.
  Click on the Reports section for more. Details
8The estimated cost of the proposed project is as under:
 -- Main facilities ( Unloading system, Storages, Electrical and Instrumentation, Bottling and Loading Plant) costing Rs 500 core.
 -- Manufacturing facilities ( Offsite and utilities, Land development, ROW, Supervision, Annual Lease) costing Rs 73 crore.
 -- Miscellaneous cost( Engineering and PMC, Management cost ad others) costing Rs 66 crore.
 -- Addition of interest during construction around Rs 28 crore.
 Click on the reports section for more details. Details
The government has claimed that current CBM production has breached the 1 mmscmd mark, at 1.07 mmscmd.
8Production is expected to be as much as 5.77 mmscmd in 2017-18
8The DGH had offered 33 CBM  coal blocks out of which 8 blocks have reached development stage.
8Further, out of these 8 blocks, one block has entered into commercial production of CBM and 4 blocks are producing incidental CBM.
8Attention is now focused on the CIL-ONGC’s on when the Jharia and Raniganj (North) CBM blocks will go on stream.
8The development plans for both the CBM blocks were approved in 2013  and the government of Jharkhand has granted Petroleum Mining Lease (PML) for Jharia CBM block in July, 2015.
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Two people died in the Suryapet section of the GAIL’s Vizag - Secunderabad LPG pipeline when a pig ejected with sudden and violent force out of the pipeline.
8The pig came out with such force that it damaged the boundary wall along the pipeline and other attendant facilities.
8The incident took place during regular pipeline cleaning operation carried out on the 10” Vijayawada to Suryapet segment of the LPG pipeline on April 04, 2015 at around 1200 hrs.
8According to investigators, the incident could have been avoided if the GAIL team handling the opertion was more competent and trained in handling pig receiving operations in the pig barrel.
8Standard operating procedures were not followed for removal of the pig, forcing it to eject with sudden pressure.
8Also, the absence of a vent in the rear side of the scrapper barrel which is used for de-pressurizing any entrapped product behind the pig was a problem.
8The entrapment of LPG behind the pig train in the scrapper receiver barrel due to blocking of the passage by accumulated muck and pig train caused the pressure to develop.
8The same mistakes were made as in the case of the KG Basin pipeline blast in which 22 people were killed.
8The same recommendation that was made then is made now that only "competent, trained and skilled personnel shall be deployed to undertake this operation and in case of contracted jobs, the entity shall ensure that only competent, experienced and trained personnel are deployed by contractor".
8Looks like GAIL never learns.
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 The PNGRB has widened the definition of a stakeholder who can be granted the right to be heard before determining the provisions initial tariff of a pipeline.
8The regulator has held that the stakeholder is a person who is not just a consumer but also any one "who may have interest or is likely to suffer from the tariff so determined or to whom the tariff determination can cause grievance".
8The PNGRB is entitled to issue a public notice providing an opportunity to stakeholders to participate in the tariff fixation process. Stakeholder comments are then sent to the pipeline owner for comments.
8The Board has claimed that some examples of key stakeholders are creditors, directors, employees, the government and its agencies, owners, suppliers, unions and the community.
8The reference was made recently when the regulator upheld Niko Resources plea to be heard in the fixation of tariff procedures for a 15 km stretch of a 36-inch gas pipeline that connects the Hazira field in which Niko and GSPC are partners.
8The cost recovery of the pipeline was rejected by DGH but was later upheld by an arbitration tribunal and while the dispute was on, the pipeline was transferred by GSPC to a sister company, GSPL.
8The PNGRB has now upheld Niko's view that it should be heard as a party in the tariff fixation proceedings for the pipeline because it is an effected stakeholder. This was done by reinterpreting broadening the definition of a stakeholder as against that of a shareholder.
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Production from the D-6 field seems to be in terminal decline.
 8Output from the D-1, D-3 and the MA field is down 16% in the quarter ending June, 2015 at 420 million cubic metric feet equivalent (MMCFE/d) or 12.6 mmscmd equivalent (mmscmde/d) per day from 500 MMCFE/d or 15 mmscmde/d over the corresponding period in the previous year.
 8Clearly the BP-RIL's attempts to revive production through sidetracking of some of the wells which have been shut down due to high water and sand ingress does not seem to be showing results.
 8A glaring example of failure is the MA-5H sidetrack well was brought on-stream in March 2015 and during the first quarter of fiscal 2016, the sidetrack well was shut-in due to sand production from the well.
 8Hope on arresting the decline now depends on the B1 substitute well and A1 sidetrack well in D1-D3 fields which were successfully completed during the first quarter, 2015-16 and were brought on-stream in July 2015.
8Another well, B-6, has been restarted and hopefully it will continue to pump gas to supplement production.
8Unless water and sand ingress kill them quickly, the inexorable decline in output is likely to stand arrested.
 Click on our Reports section for more Details
 The proposed project includes the followings:
 -- LPG import terminal to import 1.0 MMTA of propane and butane,
 -- Two refrigerated storage tanks of 15000 MT capacity,
 -- Propane and butane blending system,
 -- Four mounded bullets of 350 capacity each
 -- Facilities for LPG bottling ( 1+1) 24 point carousel plant and (1+1) 8 bay tank lorry loading gantry.
8 Incoming power supply will be taken from WB State Electricity Board through an independent feeder to  ensure uninterrupted power supply from grid.
 8 The power requirement for operation of the proposed twin transfer pipeline and LPG terminal of BPCL has been estimated to be 9834 KVA.
  Click on the reports section for more. Details
The oil and gas industry is fraught with risks but is also replete with success stories.
 8One such story is that of Phoenix Overseas Ltd, a small time shoe maker and exporter, who bid and won a pre-NELP block that is now turning out to be a goldmine.
 8Phoenix renamed itself as Focus Energy and the oil field in question is RJ-ON/6 block in Rajasthan. Directly and indirectly through a subsidiary, Phoenix controls a 70% stake in the block while ONGC as the licensee is planning to pick up the rest 30%.
 8The reserves in the field has now been quantified as a very impressive 1.9 TCF of gas.
 8About 0.90 mmcmd of gas is supplied to a power plant of RRVUNL.
 8But plans are to scale up production to 3 mmscmd by April 2018.
 8The isolated field has few industrial consumers around so a mini LNG plant is coming up to take the extra gas.
 8A pipeline is also planned going up to Mehsana.
 8Banks are queuing up to lend money to the company and it is getting excellent ratings from rating agencies.
 8Focus operates four other blocks though they are currently only under exploration.
 8As a pre-NELP block, the gas sold earns $ 5/mmbtu and negotiations are on for review of this price after the earlier gas supply contract ends a few months from now.
 8Clearly this is one bet that has paid off for the shoe company.
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In what can be seen as a landmark order, the PNGRB has rejected the request for authorization by Haryana City Gas Distribution Ltd (HCGDL) for the Bhiwadi City Gas Distribution network in Rajasthan.
 8The regulator has rejected all the submissions made by HCGDL that it had made sufficient progress in its city gas distribution work in Bhiwandi before the "appointed day" when the PNGRB was formed.
 8The PNGRB has shot down proof of possession of land and orders placed for supply of equipment before the appointed day.
 8The regulator has asserted that such claims are spurious.
 8Neither physical progress nor financial commitment was conclusively established by the company.
 8In this context, the application made by HCGDL to lay, build, operate or expand the CGD network in the city was rejected by the regulator.
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LPG will continue to remain a dominant fuel for cooking and heating for Indian households given the government's ambitious plans to increase use of LPG  across the country.
 8 It  is expected that there will be a shift in fuel usage pattern in rural India in the years ahead and the dependence on conventional cooking fuels like biogas, wood and kerosene will decline consistently.
 8 For those who are looking at this segment, the website carries the following data:
 -- Past consumption pattern,
 -- Future demand and supply projections till 2023-2024,
 -- Zone-wise LPG demand-supply gap till 2023-2024,
 -- Imports Vs Indigenous production and export till 2013-2014,
 Click on the reports section for more details. Details
BPCL has chalked out a plan to setup their its own LPG terminal and associated facilities in Haldia, West Bengal at a cost of Rs 694 crore.
 8 The proposed project includes development of import, storage, bottling and bulk distribution facilities at the Haldia dock complex.
 8 The time schedule for the mechanical completion of the project is envisaged to be 24 months from the date of obtaining all approvals.
 8 Presently the gas major is using the import facilities of Indian Oil Petronas at Haldia for the unloading, storage and the distribution of bulk LPG.
 While BPCL, IOCL and HPCL are also using IPPL facilities at Haldia, BPCL wants to forge out and be independent because it sees a huge growth potential in the region.
 Click on the reports section for more. Details
During the first quarter of 2015-16, major 12 incident of pipeline leakages and in some cases attendant fires were registered to PNGRB in Q-1, 2015-16
 8Two major fire incidents occurred in in pipelines operated by Gail Gas Ltd  in May, 2015 due to damage caused by excavation carried out with the JCB excavators
 8In an MGL pipelines, there were five instances of gas leakage and consequent fires when HDD activities were undertaken
 8In June 2015, two major incident took place in IGL pipelines at Noida and Okhla. The incident at Okhla took place due to mechanical failure of the universal shaft coupling, The incident at Noida took place because some  unauthorized drainage cleaning activity that damaged the pipeline
 8In a CUGL pipline near the Panki CNG station in Kanpur, a gas leakage was noticed in the carbon steel pipeline as the back filling was not done in a proper manner. 
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Why can't the DGH too be as transparent as the PNGRB should be?
 8After all it is also a regulator of the upstream industry.
 8Why shouldn't all communication between the DGH and the operators of oil & gas blocks be in the public domain?
 8For that matter why shouldn't the letters written by the government to the DGH and their replies be also made public?
 8If any document can be accessed through the RTI, then why shouldn't it be placed in the DGH website too?
 8The government of course will not do that but the DGH is meant to be a regulator --  or that is what the government claims -- and like all regulators such as the TRAI or the PNGRB or the CERC, why shouldn't there be more transparency in the functioning of the DGH?
 8As long as national security is not compromised, and it will not be in most cases, such as if the regulator is trying to cut the gold plated cost estimate given by an operator for an undrilled well, then all E&P documentation should be in the public domain.
 8India can only be free of corruption if it is an India that follows all the international laws relating to transparency in decision making.
 8The petroleum ministry can hire a consultant or it can ask the DGH to do so,  or it can take the help of US agencies under the exiting MOU with the US to fine tune a transparency policy for the oil and gas sector and for all government agencies. Details
Collecting accurate data is one of the most difficult jobs in the oil and gas industry in India. Unlike in the US where every bit of oil and gas data is in the public domain, all such information is marked "secret" and anyone with access to event he most innocuous data -- the production data of the D-6 block for example -- is liable to be jailed or has been jailed on the ground that national security is being compromised.
 8But it is not just the government that is over sensitive to disclosing information, private and government companies also try very hard to keep even routine disclosures out of the hands of statutory authorities such as the PNGRB.
 8The regulator has now come out with a detailed format that will force gas dealing and pipeline owning entities to disclose far more information that they have done in the past.
 8Detailed data formats have been evolved for City Gas Distribution companies that will include customer enrollment reports, gas selling agencies like GAIL which will be required to provide information on sales to domestic, commercial and industrial customers, quarterly progress report for under-construction petroleum pipeline and, monthly pipeline operation reports for existing pipelines,
 8Every data dispensing agency will have to provide a designated officer who will in turn liaise with the PNGRB to ensure that accurate data is handed over in the correct format.
 Comment: The point to note is what will PNGRB do with all this data? Will the regulator make it public or will hide it from public view. Nothing of what is sought in any way compromises any confidentiality clause and there is not reason why the regulator cannot make this data public. As pointed out by the website, for the sake of transparency, the PNGRB should also make the entire tariff calculation process transparent by providing all the tables and calculation formulae. For what there is nothing there that needs to be hidden.
 Click on Reports for more Details
Given the circumstances prevailing in the D-6 block, it is no wonder that there were no takers for the 10% stake that cash strapped Niko wanted to sell in the block.
 8Niko is now admitting candidly that it may find it difficult "to continue as a going concern"  as it has begun defaulting on its loan repayments but lenders -- saddled with loans worth over $ 300 million -- are not taking immediate action because most of company's assets are not saleable at this point in time.
 8Both cash calls and tax obligations across Niko's E&P assets are mounting by the day and the company seems to have run out of cash.
 8Niko says there is uncertainty on how business will continue beyond September 15, 2015.
 8Now that efforts to sell the company or the 10% stake in the D-6 has been abandoned, the strategy now is to hold on to the core E&P assets of the company until the situation improves. But when will the situation improve remains a moot point
 8The ball now seems to be in the court of the lenders. They may be left with no option but to restructure loan repayments and advance more money to keep the company's operations going until a buyer is found because the  the alternative -- of not being able to recoup most of their loans -- is even worse as the Niko's assets are currently not saleable or can only sell at levels at which only a fraction of the loans can be salvaged.
 8Till a final decision is taken, the future of Niko remains very uncertain.
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So what does the future look like for the D-6 block? Not so great at this point in time for there are far too many variables outside the control of the promoters..
 8For one, there is no clarity yet on when will work begin on developing the new discoveries. The government is bitterly opposed to arms-length pricing  a battle is on in the Supreme Court on whether the matter can even be taken up for arbitration even though the PSC explicitly allows for freedom in the pricing of gas and crude. The Modi regime feels that it is the sovereign right of the government to fix the price of gas and this is not debatable or contestable and cannot be determined by arbitrators. More so because a "fair price" is being given to the producers of oil and gas in India through the gas pricing formula.
 8While this has become a barrier what is more worrying is the low prevailing price of gas in the world market. The Henry Hub September gas price is around $2.8/mmbtu and this has dramatic consequences on E&P investments everywhere including the D-6 block. The landed price of gas from the US will be lower than the cost of production of gas -- of between $10-$11/mmbtu --from the RIL-BP fields in the KG basin. This may well mean that the KG Basin reserves may remain underground because the cost economics is unsuitable.
 8There are more problems ahead for the RIL-BP duo. The government is now talking of a "premium" for deepwater discoveries to be given as some kind of a percentage of production that will be allowed to be marketed freely. With the cost economics not working out even at current market prices, how would the "premium" help when it will be always lower than the market price?
 8What is worse is that the RIL-BP discoveries may not even get this premium as they were made before the cut off date from when the premium will be applicable.
 8Then again the promoters are not allowed to pocket the differential between the earlier gas price of $4.2/mmbtu and the current gas price (though the gap is very little now on account of falling global prices) as deductions have to be made for capital recovery for apparent gold plating of processing capacity in the D-6 block. This matter too is under arbitration at the moment.
 8So there are a plethora of issues that has to be resolved before gas discoveries in the block or for that matter in other blocks of the combine cab be tapped Details
Here is a highly researched primer on what moves global oil prices -- along with excellent graphics -- for our readers' reference.
The following factors are at reportedly at work:
8World oil prices move together due to arbitrage
8Crude oil prices are the primary driver of petroleum product prices
8Changes in expectations of economic growth can affect oil prices
8Economic growth has a strong impact on oil consumption
8Rising oil prices held down global oil consumption growth from 2005-2008, despite high economic growth
8Non-OPEC supply expectations indicate changes in market sentiment concerning oil supply
8Changes in Saudi Arabia crude oil production can affect oil prices
8Unplanned supply disruptions tighten world oil markets and push prices higher
8Inventory builds go hand-in-hand with increases in future oil prices relative to current prices (and vice versa)
8Open interest in crude oil futures grew over the last decade as more participants entered the market
8Money managers tend to be net long in the U.S. oil futures market
8Crude oil plays a major role in commodity investment
8Commodity index investment flows have tended to move together with commodity prices
8Correlations (+ or -) between daily price changes of crude oil futures and other commodities generally rose in recent years
8Correlations (+ or -) between daily returns on crude oil futures and financial investments have also strengthened
8Commodity index investment flows have tended to move together with commodity prices
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8Board of ONGC approved investment decision for Rs.2,818.88 core
--The approval is for further exploitation of oil and gas from its Neelam Redevelopment Plan in western offshore.
--The project comprises of drilling 12 new wells, 13 sidetrack wells and installation of allied facilities.
--The project is estimated to get completed by March 2023 and a incremental gain of 2.76 MMT crude oil and 1.786 BCM gas by 2034-35.
8ONGC's LNG based C2-C3 plant
--The C2-C3 plant at Dahej, Gujarat, was commissioned on May 31, 2015 and the commercial production started in July 17, 2015.
--The plant is expected to produce 600-700 KT of VAP in FY 15-16 with commingled LNG feed from Petronet LNG Ltd.       
Click on Reports for details Details
It has now become routine for ONGC to flaunt a set of discoveries every time it announces its quarterly performance report.
8This time around was no exception, with the company announcing two onland discoveries, one in the KG Basin and the other in Tripura.
8The Tripura discovery flowed gas at 86900 m3 per day while the KG basin find threw up gas at 123,512 m3 per day.
8While this is commendable, the company has to do much more to be able to push its gas production up from such discoveries.
8Granted that onland gas discoveries do not have the scale and stature of offshore fields but ONGC must make many such discoveries for it to be able to raise the output from existing fields.
8Incrementalism has been the bane of the E&P giant's performance for more than a decade and while its offshore discoveries will push up gas production sizeably, it needs to do more.
8Or else it will be difficult for the company to get out of the low equilibrium paradigm that seems to have squeezed itself into.
 Click on Reports for details Details
ONGC must perhaps be the only company in the world to post a higher profit despite a sharp fall in crude and gas prices.
8ONGC has posted a rise in net profit at Rs.5,460 crore on a turnover of Rs.22,868 crore in Q1 2015-16 as against a profit of Rs.4,782 crore on sales of Rs.21,917 crore despite a 38% decline in gross realization.
8This bit of good news has resulted from the fact that the company's net realization for the quarter went up from $47.15 /bbl to $58.92/bbl, even when gross realization was down from Rs.6,543/bbl to Rs.4,051/bbl.
8The differential has a arisen because the company paid an under recovery discount of just Rs.1,133 crore during the quarter in relation with Rs.13,200 crore in the previous quarter.
8As a result, net realization was up to Rs.3,742/bbl as against Rs.2,818/bbl.
8In other words, ironically enough, ONGC profits are up despite a 38% drop in realization.
 Click on Reports for details Details
ONGC has registered a mere 1.3% increase in crude production in Q1 2015-16 at 6.136 MMT as against 6.057 MMT registered in the same quarter in the previous year.
8On its own, the company showed a 2.2% increase at 5.227 MMT of crude production as against 5.112 MMT but a 3.8% decline in its share from JV fields -- from 0.945 MMT to 0.909 MMT -- brought the total down.
8Condensate receipt was down by significant 12.3%, thereby registering only a 0.5% increase in total oil and condensate output for the year.
8More importantly, total gas output is down by sizable 3% during the quarter, from 5.653 BCM to 5.482 BCM.
8If the steep 12.3% decline in JV gas output is taken into account, overall gas output is down by 3.6%.
8Overall gas sales are however down by 5.4% from 4.702 BCM to 4.450 BCM.
8In other words, ONGC's gas output is down from 51.67 mmscd to 48.9 mmscd.
8It is now known that ONGC's output from its offshore fields will move up, but the point when will it happen?
 Click on Reports for details Details
ONGC is planning to re-route the dislocated and exposed pipeline segment and the proposed activity includes installation and laying of the 42” dia, 1.9 km long pipeline between hook-up points HK1 and HK2.
8The project also includes installation of a new SV station near HK1  that will also include a 42”, 900# ball valve, which will be a gas actuated, buried, remote and manually operated sectionalizing valve (SV). 
8Hot tapping with stappling (essentially involving a double line stop with temporary by-pass) will be carried out at HK1 and HK2 in the existing pipeline and the gas in the isolated section between HK1 and HK2 willl be flared off safely through the existing SV station.
8HK1 will be located minimum 100 m upstream of the existing land fall point and the re-routed pipeline section of 400 m length from HK1 to the HDD entry point will be gradually lowered to the HDD entry point to a depth of 6 m at HDD entry point.
8The re-routed pipeline segment will be hooked up with the existing pipeline by cold field bands at both the ends using manual cutting and welding and subsequently inertisation and nitrogen purging of the existing isolated section will be done.
8Production testing will also be carried out at acceptable limits and all the welded joints including cutting edge preparation, fit-up, bending and preheating will be tested by radiography and other non-destructive tests (NDT).
8EGP (Calliper Run), cathodic protection (CP), hydrostatic testing, dewatering and swabbing operations will also be carried out and de-commissioning of the redundant pipeline between hook-up points HK1 and HK2 and existing SV station valves will also be part of the project.
 Click on Reports for details Details
ONGC is planning to re-route its existing 42 inche pipeline connecting Mumbai offshore to its Hazira processing plant
8The company receives sour gas and condensate from Mumbai Offshore through 36”and 42” SBHT (South Bassein Hazira Trunkline) pipelines for processing and thereafter supplies sweet gas to the HBJ line through GAIL.
8 The gas is ferried by GAIL over 3000 km across north India to feed downstream industries. 
8The Hazira plant produces and supplies a range of value added products such as LPG, Naphtha, HSD, ATF and Kerosene to IOCL, BPCL, HPCL and RIL .
8Thus the 36” and 42” dia SBHT lines from Mumbai to Hazira are very critical and the company wants to secure their safety.
8The 42” SBHT line got exposed to high tides and cyclonic storms in 2011-12 near the shore, at Umbhrat, District Navsari. Based on design and engineering by their consultant (EIL), ONGC carried out protection measures in 2012 with geotextile tubes, geobags and gabion boxes.
8Meanwhile, due to high tides and cyclonic storm on 15-16 June 2014, another 500 m of the 42” gas pipeline stands exposed, and its previous protection measures were undone and the line in fact shifted by as much as 25 to 30 m towards the seaside.
8So, as a remedial measure, ONGC will implement re-routing of the pipeline in the 1.9 km stretch which includes the exposed portion on a fast track as a permanent solution to the problem.
 Click on Reports for details Details
Aegis Logistics Limited is a company deeply involved in the petroleum logistics business. And that is a good business to be in given the huge gap in oil and gas infrastructure in India.
The company is planning to build an unrivalled network of liquid and LPG tank terminals at key ports around the coastline of India, with an emphasis on safety, environmental standards and high customer service. Some specific initiatives that will be pursued during FY 15-16 are:
8Aegis has been allotted 5 acres of land at the Kandla Port on a 30 year lease to build a new LPG terminal. Once constructed, this will be the fifth port at which Aegis will have a presence. Kandla is India’s busiest port and the new terminal will be complementary to its terminal at Pipavav, adding flexibility for customers.
8Menwhile the liquid terminal of 60,190 kl at the Haldia dock complex has been completed and commissioned. Over the coming year, the company is planning to expand its capacity by a further 25,000 kl and and it will be installing specialized liquids tankage.
8Aegis has also been allotted an additional nine acres of land at Haldia, on a 30 year lease and it intends to expand the range of products it can handle at Haldia by constructing a new terminal on this land.
8During FY15, the company doubled the capacity of the LPG terminal at Pipavav. Given the robust demand growth for LPG, it is planning to increase the capacity of its LPG terminal by a further 50% to a total of 8400 MT.
8In the gas distribution business, the Aegis Group has expanded its footprint across several states and cities with autogas networks at 102 stations across six states, while 30 more are currently in the pipeline. In view of the enormous time in getting various approvals for procedural compliance, the company has set a conservative target of reaching the 125 station mark in three years.
8Presently, the Group have a network of 54 commercial and industrial gas distributors for the packed gas business across 42 cities in five states. The company is planning to expand their brand into the states of Karnataka, Andhra Pradesh and Tamil Nadu states by widening the dealer and distributor network.
8Watch out for more action from the company in coming years.
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The following are the excerpts from IOC's chairman's press conference today announcing its Q-1 results:
 8On Paradip Refinery
 "There are no issues regarding clearances , all clearances have been obtained from the Odisha government by the IOCL. Currently we are commissioning units one by one, starting with the commissioning of ABU on 26th April. Subsequently we have been commissioning one downstream unit. We think by end September- early October , all the units will be in place  and we should be producing products on regular basis."
 8Gross Refinery margins
 "GRM's are high as the inventory gains have been there, operational performance also have been excellent. We have continued to improve our operational performance. A refining company's operational performance depends on three parameters which are yield,  fuel and loss and the energy intensity.There have been improvement in all the parameters even compared to last quarter of the last year.
 Our distillate yield has gone up to 79.1% wt. as compared to 78.2 % wt. of the last year.Fuel and loss have gone down to 8.5% wt. as against 8.8% wt. last year.
 Also the crude price being lower, in terms of expenditure on fluid that has been lower. Average crude price during last year Q1 was $ 100  and now average price is $62, effectively $38 is the reduction in the price itself, that is reflecting $3 dollor worth of margin improvement.
 8Are these margins sustainable?
 If crude prices will hover around $50- $60, this kind of margin will continue to be seen. Highest gross refinery margin of 16.81  was obtained during Q1 2008-2009. Our performance in the last quarter is the best after that.
 8On market  share
 We will retain or improve on our share. Good business is coming is coming from our rural markets,13%. Rural outlets perform better.
 8On why dealer margins have been raised?
 Progressive increase in the dealer margin basically depends on the price of fuel and also to sustain improved competitiveness. We have to stay clued on to the market.
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The PNGRB has notified fresh tariffs for the 249 km Vizag to Hyderabad and Secundrabad (VSPL) LPG pipeline has been fixed at Rs 430 per MT to be applicable from April, 2015.
 8The last time the tariff was revised was in December, 2014 when it was fixed at Rs 426 per MT.
8Before that, for a two year period was Rs 372 per MT.
 8The latest revision was based on the goods tariff table of the Indian railways.
 8While the regulator is unlikely to make any mistake, the entire calculation matrix must be made public for greater transparency.
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Refining companies are laughing all the way to the bang and IOC is no exception. Net profits are up at Rs. 6435 crore in Q1 2015-2016 in comparision to Rs 2522 crore for the same quarter in the previous year. But how much of it is on account of inventory gain as a result of fall in prices and how much of it on account of inherent efficiency gains?
8Of the company posted an impressive $10.77 per barrel but inventory gain itself took out $4.78 per barrel. In other words the actual GRM was $5.99per barrel.
8While this seems good, Is it good enough?
8The IOC chairman B Ashok claims that operational performance has been good, with both distillate yield going up and fuel and loss coming down.
8Higher profits are also on account of lower financing cost of Rs 592 crore in comparison to Rs 913 crore for the same quarter in the previous year on account of lower working capital cost as the gap between the cost of production and subsidized product cost has gone down because of low crude prices.
8The biggest challenge however for IOC will be to retain its predominant market share in the face of rising competition from the private sector subsequent to the deregulation of petrol and diesel prices.
8The next year will be spent on getting the Paradip refinery on stream and hanging on to its market share.
8Will IOC be able to pull it off? Only time will tell.

 Details
The PNGRB has directed Gujarat State Petronet Ltd (GSPL) not to take any coercive steps against Essar Power suh as invoking the take or pay provisions after the latter reneged on buying expensive LNG from the supplier.
 8Essar Power, which has a 515 ME gas based power station in Hazira , decided to switch supplies from GSPL to RIL when its D-6 gas was in abundant supply.
 8But D-6 gas supplies tapered off and was completely stopped to the Essar Power plant.
 8In the meanwhile, GSPL was keen to encash the bank guarantee and collect the take or pay dues from Essar Power.
 8The regulator has now said that while the bank guarantee should not revoked, Essar too should keep on the letter of credit till a judgement is passed on the petition filed by Essar Power.
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   Details
HPCL is planning to increase its LPG storage capacity by 1500 MT by setting up a new LPG bottling plant at Haldia. 
8At present, the company has only one LPG plant of 120 TMTPA capacity in West Bengal at Paharpur (an industrial area located in Kolkata City) and the second LPG Plant of 250 TMTPA capacity is under construction at Panagarh.
8HPCL's sales in the State of West Bengal during 2014-15 was 233 TMT, which was met by packed supplies from Paharpur LPG plant (103 TMT), Purnea LPG plant (24 TMT), IPPL Haldia (55 TMT) and Private bottlers (51 TMT) Plants. 
8The proposed plant will be set up on an area of 14 acres, which is available at HPCL's POL terminal. The storage capacity of the Haldia LPG Bottling plant will be 1500 MT (3 x 500MT) mounded storage vessels and a bottling capacity of 60,000 MTPA.
8The estimated project cost is Rs.100 crore.
Click on Reports for details. Details
ONGC plans to spend the following amount of money in its deepwater blocks for exploration and production:
 8Rs 4509.9 crore on development of Vashishta & S-1 fields in Krishna-Godavari Basin.
 8For block KG-DWN-98/2, investment details are being finalized and the Field Development Plan is under preparation.
 8In 2015-16, ONGC plans to invest Rs. 8901 crore in its KG Basin discoveries, which is about 24.5% of the total plan outlay of ONGC.
 8Pertinently, ONGC recently completed the field development of GS-1 & G-1 at a cost of Rs 3955.21 crore.  Details
The government always provides a hypothetical demand estimate for gas in India
 8And the figure is always multiple times that of supply.
 8The demand-supply gap notwithstanding, we have a situation where the government claims that LNG terminals are going under utilized because of lack of demand.
 8So where exactly is the demand figure of a massive 5000 mmscmd coming from?
 8The demand figure is clearly hypothetical unless it is juxtaposed against a given price of gas in light of the fact that Indian consumers are highly price sensitive. A furnace owner is likely to substitute liquid fuel with gas only if the price is right not otherwise.
 8Demand in India is highly price elastic and unless LNG is available at the right price, there will be no demand for it.
 8Bandying an inflated demand figure is quite an useless exercise and must be abandoned immediately. Details
Life is cheap in India or why else have we never heard of someone losing a job or sent to jail when his oversight, directly or indirectly, has lead to loss of lives or severe injuries when safety regulations are blatantly violated?
 8Modi is a tough Prime Minister and he deserves praise for being strong where he needs to be.
 8But isn't it time that the severest of penalties, including criminal misconduct, be slapped by the new government on those whose oversight lead to loss of life in the oil and gas industry?
 8Those who have purportedly stolen government documents have been sent to jail. And this has clearly helped the government to plug all information leaks not just in the petroleum ministry but across all government departments.
 8Isn't it time for those who have caused loss of lives through willful misconduct to be be similarly treated?
 8Isn't there an ONGC officer who is directly responsible for the blatant flouting of rules and procedures because of which 12 people have been severely burnt? Isn't he liable for action.
 8If the government were to take severe action against one such erring officer or director, the number of such incidents would come down dramatically.
 8The reason why such incidents happen with uncanny regularity is because no one is found culpable. Never is individual responsibility fixed.
 8It will not be difficult at all to keep a real time check right up at the top in ONGC on the fulfillment of safety measures in every individual rig but why has this not been done so far? And if there is an accident, the highest ranking officer responsible for the operation of the rig must be sacked and criminal proceedings launched against him. Details
As per the data released by the government, projected demand for the gas is pegged at 446 MMSCMD in 2015-2016 and is likely to hover around the same figures for the next five years.
 8In contrast to the demand, availability and consumption are very low.
 8Total gas consumption during 2014-15 was 116.78 MMSCMD of which 73.93 MMSCMD is domestic sources and 42.85 MMSCMD is made up of R-LNG. 
 8The government claims that due to less demand for imported Liquefied Natural Gas (LNG), out of 62.10 MMSCMD of total regasification capacity, 19.25 MMSCMD remained unutilized.
 8In contrast, the country has built a pipeline network that can transport a massive 430 MMSCMD
 8In other words, the average capacity utilization of India's pipeline network is going to be around 27% or so.
 8Not all pipelines are under utilized but some are more than the others.
 8By any yardstick, a 27% average utilization is not good news and the return on investment as a whole is likely to be negative and is likely to stay that way for a long time to come because demand and consumption is likely to grow at a slower pace as all of the incremental gas that will come into India will be in the form of higher priced LNG.  Details
The GAIL pipeline blast killed 22 people on June 27, 2014. Twenty two people died and 40 were injured.
 8An investigation was done and GAIL was found responsible for severe lapses.
 8The gas major was found to be repairing the pipeline on a regular basis using temporary measures.
 8The pipeline was designed for dry gas while wet gas was allowed to be plied.
 8A dehydration plant was meant to set up but never was.
 8There were suggestions made to use corrosion inhibitor but that was ignored by GAIL
 8Scrapper pigging was not carried out in the pipeline even though that was essential to take out water and condensate
 8No procedures were laid down on how temporary repairs should be carried out and this was the main reason why the blast occurred.
 8A rig residue analysis, which is important to understand the health of a pipeline system, was never carried out
 8Worst was that the command control structure that was an essential part of the safety regulations was there only on paper.
 8What were the consequences: 22 innocent people were burnt to death in their sleep and many more were injured.
 8What action action was taken against the management of GAIL: Nothing at all!
 8Did anyone go to jail for loss of lives on account of willful neglect?: No!
 8Was there a criminal charge on any GAIL official for loss of lives? No!
 8Was anyone punished or sacked: No!
 8This incident and its aftermath is a telling commentary on how the oil and gas industry functions in India.
 8And the Modi government needs to fix this anomaly with utmost urgency.
 Click on Details and also on our Reports section for more  Details
Isn't it time that the OISD stops treating all oil and gas incidents with kid gloves.
 8A look at the OISD website would show that case studies elucidating various oil and gas incidents have been put up selectively.
 8What is really funny is that the name or the place of the incident is not mentioned. No names are mentioned.
 8For example, ONGC's Olpad-31 fire has been described as the as the case study for the "Blowout during Workover Operation". No names at all. All it says is, "An incident of gas leakage from a well took place during workover operations. Subsequently, the gas caught fire on the fourth day in which twelve persons were injured. Two contract workers, who were working with the mobile crane, succumbed to the burn injury."
 8The mindset behind this is simple: Don't mention real names and real places as this may harm those who were responsible for the incident.
 8What is far worse is that only selective case studies are put up.
 8The case studies cover all sorts of sundry incidents in the oil and gas sector but why isn't the GAIL pipeline blast in which 22 people died the KG Basin network not up as a case study?
 8Should it be the mandate of the new government to put every incident investigated by the OISD on its website along with the name of the incident, place and people involved and the full investigation done and the action taken on the incident?
 8A case study that is cleansed and surgically dressed will not serve the main propose of the OISD which is to prevent or minimize incidents that take lives and damage property in the oil and gas sector. Details
It takes a major incident like the Olpad fire to highlight the gross negligence of safety procedures by India's public sector oil and gas companies.
 8The OSID has now claimed that the competency criteria for key operational personnel of charter hired rigs must be developed as if this is not already a known fact
 8Then again the safety agency claims that the competency of work-over personnel must assessed before they are put on the job but isn't this something that ONGC is meant to do in the normal course?
 8There is a suggestion that the level of supervision should be increased for work-over in gas wells surely ONGC, which operates hundreds of gas wells knows this fact already.
 8Why was ONGC using brine when it is already known that work-over operations must be only carried out with drilling mud in gas wells?
 8It is a well known fact that BOP function tests including the BOP low and high pressure test must be carried out in accordance with the requirements of OISD-RP-174, then why didn't ONGC ensure that such tests were carried out in this well?
 8OISD's RP-174 standards clearly lay down that trip drills for all the three scenarios mentioned in the regulations should be carried at regular intervals in the presence of senior officers. Why didn't the E&P major do this?
 8Why has it taken the OISD an accident of this dimension to recommend that the blind cum shear ram should be provided in place of the blind ram and the 2-7/8” to 5” variable ram for workover operations in gas wells? Shouldn't this fact have been part of the recommendations earlier?
 8Why has it taken the OISD so long to suggest that a ‘Trip Tank’ must be made mandatory to monitor behavior during pulling out operations in the workover of gas wells? Details
What Indian authorities do with aplomb is a post-facto analysis of a mishap, particularly in the oil and gas sector. There is always more action after than before an incident.
 8The post-accident analysis by the Oil Industry Safety Directorate (OISD) shows a gross dereliction of duty by oil companies and a complete flouting of safety rules.
 8This was highlighted in case of the fire that broke out in an ONGC well, Olpad-31, in the Ankleshwar basin recently.
 8The blow out could have been prevented as the villagers had complained of a gas leakage for two whole days.
 8Clearly the blowout preventer was malfunctioning but some sort of a spark caused the blast and fire when attempts were made to repair it
 812 people suffered severe burns as a consequence. Details
The government has now published OISD's damning indictment of the fire. What the safety authority said was the following:
 8The well did not stablize as the entire operation was carried out using brine instead of mud.
 8The string was pulled out without ensuring the stability of the well and during the pulling out, the well behaviour was not monitored
 8Then again, the use of brine itself is inappropriate and instead higher density mud should have been used.
 8The mill was not able to clear beyond 542.5 meters. Still the milling tool was rotated continuously at the same point. This damaged the casing, allowing gas to escape.
 8The blind ram was closed against the drill collars this, the OISD has made it clear, was a wrong operation.
 8Worse, BOP were not tested at the desired level of pressure.
 8And the reason of fire is attributed to a spark from the battery terminals which were stationed near the cellar pit area and was being used as a launch pad for the BOP replacement job.  Details
US crude prices posted the biggest monthly drop since the 2008 financial crisis, with WTI declining to $47.12/b on 31 July after a string of losses during the month triggered by China's stock market slump and existing oversupply in the market. Brent crude oil futures settled at $52.21/b, the lowest level seen since April. US production remains near the highest level in four decades, although the commodity price is telling the US shale sector to shrink.
 8Shale drillers in US have slashed spending and cut workers this year as prices fell.
 8Crude oil production in August from seven major US shale plays is expected to decline by 91 thousand barrels per day (tb/d) to settle at 5.36 mb/d, according to the US Energy Information Administration’s latest Drilling Productivity Report (DPR) but they can rev up production quickly if prices go up.
 8But in some shale plays, US crude oil prices would still need a significant drop before falling below breakeven prices.
 8In North Dakota’s four most prolific counties, according to new data released by the state’s Department of Mineral Resources. Breakeven prices for rigs in North Dakota’s Dunn, McKenzie, Mountrail and Williams counties range from $24/b in Dunn to $41/b in Mountrail. Those four counties accounted for 63 of the state’s 68 oil rigs in late July, according to the data.
 8Interestingly, the slowdown notwithstanding, in some shale segments the new-well oil production/rig count across the seven plays is projected to increase in August by a rig-weighted average of 10 b/d to 432 b/d, including a 26 b/d rise at the Bakken site to reach 691 b/d, a 25 b/d rise at the Eagle Ford site to reach 766 b/d, a 14 b/d rise at the Niobrara site to reach 516 b/d, and a 12 b/d rise at the Permian site to reach 327 b/d.
 8It looks like the Americans are continue to be at it no matter what.
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These are bad times for E&P employees worldwide.
8Companies are slashing jobs in an unprecedented manner.
8Chevron plans to cut 1,500 jobs worldwide as part of a drive to reduce costs. Chevron is taking action to reduce internal costs at multiple operating units and in the corporate sector. Statoil also cut costs even further in the current year. The company had previously estimated its 2015 capital expenditure to be $18 billion, down 10% from the previous estimate of $20 billion, but the target has now been reduced further to $17.5 billion.
8Oilfield service companies such as Schlumberger and Halliburton have so far been at the forefront of job cuts as crude prices began plummeting last year
8But other majors have largely held on to their employees on grounds that it is difficult to rehire skilled workers once the market turns and companies get ready to ramp up operations.
8Will there be job cuts in India? BP is the only larger multinational present in India but it has already reduced its staff. The expats are all heading home and the staff in India is now made up of local hires and their strength is down to the bare minimum.
8There is some consternation in London over the fact the Indian government may not allow full pricing for gas even global prices are ruling so low but jobs cuts are unlikely because the skeleton staff now in India is required to service its $7.2 billion investment in India. 
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Deepwater projects are being deferred across the world and can India be an exception?
 8It is quite likely that Indian public sector expenditure in E&P projects will not suffer on the assumption that the government will somehow or other bail them out.
 8But will that hold true for the private sector?
 8If gas prices are not allowed to be fully marked to the market, as is being planned by the government, Indian companies will be a double disadvantage.
 8If deepwater prospects are viable at only $11/mmbtu, will an operator be interested in exploiting them when the Henry Hub prices are ruling at $2.80/mmbtu, knowing that this gas reach India at a price lower than his break-even price?
 8Realistic pricing paradigms is a requirement for any increase in oil and gas production in India and this is the best time for the government to free itself from the responsibility of setting the price for gas because prices are ruling low and upward increases, if any, will slow in their coming.
 8Much like diesel and petrol were decontrolled when prices were low, the government should allow the operators to work under the provisions of the PSC instead of trying to impose an arbitrary value on the country's gas reserves.
 8There cannot be a better time than now to unshackle the upstream gas sector.
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E&P companies have deferred $ 200 billion of investment in large upstream projects over the last six months, with oil prices now off their triple-digit highs.
 8Deferring discretionary spending, in particular on exploration and pre-sanctioned projects, is one of the first levers oil companies are pulling to free up capital and curb costs.
 8According to international consultant Wood Mackenzie added, “The upstream industry is winding back its investment in big pre-final investment decision [FID] developments as fast as it can.”
 8The consultant estimates that 46 of the world's largest pre-sanctioned projects are uneconomic at $60/b. They believe that these nonshale megaprojects account for $200 billion of deferred capital expenditure, or 20 bboe of reserves, of which over 60% is oil/condensate bearing.
 8The majority of these projects are now targeting start-up between 2019-23.
 8Technically challenging projects with significant upfront costs and/or low returns have proved vulnerable.
 8Over half (10.6 bboe) of the reserves put on hold are deepwater projects, mainly in the US Gulf of Mexico (GOM) and offshore West Africa.
 8Operators such as BP and Royal Dutch Shell hope to benefit from an improvement in service sector costs to boost project economics alongside a more robust approach to project management.
 8The prospect of oil prices remaining at $60/b or below for the foreseeable future has also put significant investment in Canada's high-cost oil sands in the crosshairs, with the deferral of around 5.6 billion barrels or 30% of the reserves.
 8Around half of the new Greenfield developments are will remain below the typical 15% internal rate of return on investment required by companies at $60/bbl.
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The company is planning to revamp its diesel hydro-desulphurisation unit (DHDS), so as to meet the BS-IV quality.
 8As per the Auto Fuel Vision and Policy 2025, 100% BS-IV quality fuels have to be supplied by the refineries from April 2017 and 100% BS-V/VI quality fuels from April 2020.
 8To comply with the direction, the existing DHDS unit is planned for revamp from 1.8 to 2.34 MMTPA to ensure 100% BS-IV production from the refinery.
 8After the revamp, the company will be able to produce hydro-treated diesel with less than 10 ppm sulphur. Engineering activities are in progress with a target to commission by the end of March 2017.
 8CPCl is already capable of meeting BS-IV quality for total MS production.
Click on Reports for details Details
There are major two projects under implementation which are Resid upgradation project and new crude oil pipeline project.
The details of the projects are under:
 8Resid upgradation project:
--In order to maximize the distillates yield of the Manali Refinery and increase the proportion of sour crude processing, the company is implementing the project at an estimate cost of Rs.3110 Crore.
--The project, scope of work covers the construction of major units which includes Delayed Coker Unit( DCU), Sulphur Recovery Unit (SRU) and Revamping of the existing  Hydro Cracker Unit for an additional 20% capacity increase.
--The project is 54.89% completed till Q1 2015-16 and the entire mechanical completion of the project is scheduled for March 2016.
 8New crude oil pipeline
--The company has already initiated the activities to replace the existing crude oil pipeline running from Chennai Port to Manali refinery with a new pipeline.
--The new pipeline is aligned along the berm of Ennore-Manali road improvement project and the state-of-the-art technology and safety features are used in the new pipeline at an estimated cost of Rs.254.87 crore.
--The tendering jobs are in progress and the project is estimated to complete by 2016.
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