Norway's StatoilHydro (STL.OL) is eyeing equity stakes in Australian natural gas and liquefied natural gas (LNG) developments to boost its Asia Pacific business, a senior company official said on Thursday.
StatoilHydro's reserve replacement ratio tumbled to 34 percent in 2008, it said last week, showing shrinking business prospects for the third-year running and confirming its need for more acquisitions abroad to compensate for dropping output from its core North Sea oilfields.
"We hope to secure equity in upstream and LNG projects... that would be a cornerstone in our Asia Pacific strategy," Nils Helge Sorgard, vice president for international exploration and production, Asia and Oceania, said at the 14th Asia Upstream conference in Singapore.
He said StatoilHydro, Europe's sixth-largest energy company by stock market value, is looking at offshore assets in northwest Australia and not inland projects at the east of the continent.
"We're looking for a wide range of places but as an offshore-based company, we focus on the North West Shelf rather than Eastern Australia," he said.
"We are intrigued by the dynamics of the Carnarvon basin. There are also some longer-term opportunities in the Bonaparte basin further north."
Northwest Australia is home to the country's biggest LNG venture, the North West Shelf (NWS) project operated by Woodside Petroleum Ltd (WPL.AX).
The region has also attracted Chevron Corp (CVX.N), which has proposed to build the 15 million tonnes per year (tpy) Gorgon LNG project and another 25 million tpy Wheatstone project.
To boost its resource base, StatoilHydro bought this year U.S. shale gas assets and gained acreage off Brazil, Alaska, in the Gulf of Mexico, Canada and the Faroe Islands.
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StatoilHydro's reserve replacement ratio tumbled to 34 percent in 2008, it said last week, showing shrinking business prospects for the third-year running and confirming its need for more acquisitions abroad to compensate for dropping output from its core North Sea oilfields.
"We hope to secure equity in upstream and LNG projects... that would be a cornerstone in our Asia Pacific strategy," Nils Helge Sorgard, vice president for international exploration and production, Asia and Oceania, said at the 14th Asia Upstream conference in Singapore.
He said StatoilHydro, Europe's sixth-largest energy company by stock market value, is looking at offshore assets in northwest Australia and not inland projects at the east of the continent.
"We're looking for a wide range of places but as an offshore-based company, we focus on the North West Shelf rather than Eastern Australia," he said.
"We are intrigued by the dynamics of the Carnarvon basin. There are also some longer-term opportunities in the Bonaparte basin further north."
Northwest Australia is home to the country's biggest LNG venture, the North West Shelf (NWS) project operated by Woodside Petroleum Ltd (WPL.AX).
The region has also attracted Chevron Corp (CVX.N), which has proposed to build the 15 million tonnes per year (tpy) Gorgon LNG project and another 25 million tpy Wheatstone project.
To boost its resource base, StatoilHydro bought this year U.S. shale gas assets and gained acreage off Brazil, Alaska, in the Gulf of Mexico, Canada and the Faroe Islands.
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With preferential rating access to Sigma’s research staff, sophisticated trading platform and reporting tools, Sigma’s money manager solution is one of the most competitive in the marketplace.
Sigma provides a dedicated team of account management specialists to provide ongoing back-office support, and help reduce your administrative responsibilities.
Highly developed trading platform
Our trading platform feature quality execution capabilities as well as advanced and easy-to-use order entry and position management tools, all in a secure friendly environment. A full suite of decision support tools, from charting to research, news and more, are also available to clients all for free.
Characteristic tools
Our proprietary tool offers money managers a comprehensive and efficient way to manage pooled customer funds and track portfolio performance. Accessible online, the system automatically journals percentages of your transactions from your Master account into your client's sub accounts at the close of each trade.
We also support the needs of money managers who wish to execute trades and place orders on a per account basis. Reporting capabilities are available directly within the application, as well as real-time margin and P&L.
Back-office support
Our Partner Services team is dedicated to providing full account management support to our money managers and your clients. Our customer support is 24 hours, customers may fund around the clock. Sigma’s Partner Services team is dedicated to providing Outstanding Compensation and full account management support.
For more details contcat [email protected]
