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Archive for April 17th, 2013

Air Products’ LNG Expertise Selected for PETRONAS LNG Train 9 Project in Malaysia

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Order Comes Within a Year After PETRONAS Chose Air Products’ Technology for another LNG Project

LEHIGH VALLEY, Pa., April 16, 2013 /PRNewswire/ — Air Products (NYSE: APD), the global leader in liquefied natural gas (LNG) technology and equipment, today announced it has received an LNG heat exchanger order from PETRONAS for a major LNG project in Malaysia.

Air Products’ SplitMR® liquefaction process and technology was selected and will be supplied to the PETRONAS LNG Train 9 Project. This project will produce 3.6 million tons of LNG per year and is an expansion of the existing PETRONAS LNG Complex in Bintulu, Sarawak, Malaysia.

For 20 years Air Products has supplied multiple LNG trains, technology and equipment to the land-based PETRONAS Bintulu facility, with the first train becoming operational in 1983. Overall, Air Products’ LNG technology and equipment is currently employed in the facility’s eight existing production trains designed to produce 25.7 million tons per year (MTPY) of LNG. Production of LNG will increase to 29.3 MTPY via the additional ninth train with Air Products involvement at the Bintulu facility, targeted as ready-for-start-up by end 2015.

Today’s LNG heat exchanger announcement is the second within a year, and follows Air Products’ July 2012 news of an order for its AP-N™ LNG process for PETRONAS’ Floating LNG Project 1 (PFLNG 1). PFLNG 1 is a floating LNG production platform which will operate 180 kilometers off the coast of Malaysia. It will produce 1.2 million tons per year of LNG when it comes on stream in late 2015. The AP-N™ LNG process is the most efficient of all nitrogen recycle LNG processes in the industry, and is ideally suited for FLNG applications.

When the new projects are onstream at the two PETRONAS-operated locations, Air Products’ technology and equipment will be integral to the production of an additional 4.8 MTPY of LNG in Malaysia.

“Air Products relationship with PETRONAS continues to grow with this large scale equipment order. We believe this new order is a result of the proven performance of our technology and our decades of working with PETRONAS,” said Jim Solomon, director — LNG with Air Products. “In LNG industry development around the globe, PETRONAS is a major player, and we take pride in providing our leading technology to assist in their success with these major projects.”

A majority of total worldwide LNG is produced with Air Products’ technology. Air Products has now designed, manufactured and exported 100 coil wound heat exchangers for LNG projects around the globe over the last four decades. In support of the LNG industry, Air Products provides process technology and key equipment for the heart of the natural gas liquefaction process for large export plants, small and mid-sized LNG plants, floating LNG plants and LNG peak shavers. Upstream, Air Products provides both nitrogen and natural gas dehydration membrane systems for offshore platforms. Downstream, Air Products provides dry inert gas generators for LNG carriers, shipboard membrane nitrogen systems, and land-based membrane and cryogenic nitrogen systems for LNG import terminals and base-load LNG plants.

About Air Products

Air Products (NYSE: APD) provides atmospheric, process and specialty gases; performance materials; equipment; and technology. For over 70 years, the company has enabled customers to become more productive, energy efficient and sustainable. More than 20,000 employees in over 50 countries supply innovative solutions to the energy, environment and emerging markets. These include semiconductor materials, refinery hydrogen, coal gasification, natural gas liquefaction, and advanced coatings and adhesives. In fiscal 2012, Air Products had sales approaching $10 billion. For more information, visit http://www.airproducts.com/.

About PETRONAS

Petroliam Nasional Berhad, or PETRONAS, which is wholly owned by the government of Malaysia, is an integrated oil and gas company with a significant global presence. A Fortune Global 500 company, its business activities include harnessing natural gas reserves locally and abroad. The company is among the world’s largest integrated LNG players with strategic interests in LNG production and related facilities in Malaysia and overseas. For more information, visit http://www.petronas.com.

NOTE: This release may contain forward-looking statements within the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. These forward-looking statements are based on management’s reasonable expectations and assumptions as of the date of this release regarding important risk factors. Actual performance and financial results may differ materially from projections and estimates expressed in the forward-looking statements because of many factors not anticipated by management, including risk factors described in the Company’s Form 10K for its fiscal year ended September 30, 2012.

Source: Air Products
Related stocks: NYSE:APD

Written by asiafreshnews

April 17, 2013 at 1:44 pm

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Far East Energy Announces Updated PRMS Reserves

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HOUSTON/PRNewswire/ — Far East Energy Corporation (OTCBB: FEEC) today announced the release of an updated independent engineering report prepared by RISC Operations Pty Ltd (RISC), an internationally recognized independent petroleum advisory evaluation and valuation firm based in Perth, Australia, with respect to its coalbed methane (CBM) project located in the Shouyang block in Shanxi Province, China as of December 31, 2012. The reserves estimates in the updated RISC report were prepared in accordance with the standards recognized by the Society of Petroleum Engineers (SPE) in the Petroleum Resources Management System (PRMS).
The updated RISC report indicates that the net total proved reserves under PRMS standards are now approximately 303.7 billion cubic feet (Bcf), with estimated future net cash flow, on an NPV10 basis, of approximately US$1.1 billion. In addition, the updated RISC report estimates the net total proved and probable reserves under PRMS standards are now approximately 440.8 Bcf, with estimated future net cash flow, on an NPV10 basis, of approximately US$2.0 billion. And the updated RISC report estimates the net total proved, probable and possible reserves to be approximately 552.3 Bcf, with an estimated NPV10 of US$2.8 billion.
SEC Net Reserves NPV10*
Proved 51.3 Bcf $40.4 million
Proved +
Probable 443.7 Bcf
Prov + Prob
+Poss 556.2 Bcf

PRMS Net Reserves NPV10
Proved 303.7 Bcf $1.1 billion
Proved +
Probable 440.8 Bcf $2.0 billion
Prov + Prob
+Poss 552.3 Bcf $2.8 billion

* The NPV10 for SEC proved reserves is equal to the standardized
measure of future cash flows of SEC proved reserves.
In March 2013, RISC had released its reserves report prepared in accordance with the rules and regulations of the Securities and Exchange Commission (SEC). The primary difference in the two reports is in regard to the calculation of proved reserves. The PRMS guidelines allow for more Proved Undeveloped locations to be assigned (that would otherwise be assigned as Probable reserves under the rules and regulations of the SEC) when an area is known to have certain geologic connectivity in a region. This difference is particularly relevant to CBM projects where the coal seam characteristics are well known.
CEO Michael R. McElwrath said “Our appraisal well drilling and testing is reflected in the increased 1P, 2P and 3P numbers contained in this updated RISC report on PRMS reserves, compared to the same study at year-end 2011. We are pleased that the report once again underscores the strength of our Shouyang project.”
McElwrath added “The updated RISC report supports FEEC’s confidence in this project. With funding in place, we are moving ahead with our 2013 drilling program and will provide an update on the status of the drilling program in Thursday’s update call.”
The full updated RISC report can be found at http://www.fareastenergy.com.
Additional Information Regarding Estimates of PRMS Reserves
PRMS reserves do not constitute SEC reserves. The estimates in the RISC report were prepared in accordance with the definitions and guidelines set forth in the 2007 Petroleum Resources Management System approved by the Society of Professional Engineers. The resources shown in the RISC report are estimates only and should not be construed as exact quantities. Readers are urged to read the report in its entirety.
NPV10 for PRMS 1P, 2P and 3P reserves may be considered a non-GAAP financial measure as defined by the SEC. Because the standardized measure of discounted future net cash flows applies only to SEC proved reserves, there are no directly comparable US GAAP financial measures to NPV10 for PRMS 1P, 2P and 3P reserves. NPV10 is computed on the same basis as the standardized measure of discounted future net cash flows for SEC proved reserves but using the specified amount of PRMS reserves, as applicable, without deducting future income taxes and using estimates of future gas prices. We believe NPV10 for PRMS 1P, 2P and 3P reserves is a useful measure for investors for evaluating the relative monetary significance of our CBM properties. We further believe investors may utilize NPV10 for PRMS 1P, 2P and 3P reserves as a basis for comparison of the relative size and value of our PRMS reserves to other companies that report similar information. Our management uses this measure when assessing the potential return on investment related to our CBM properties and acquisitions. However, NPV10 for PRMS 1P, 2P and 3P reserves is not a substitute for the standardized measure of discounted future net cash flows for SEC proved reserves. NPV10 for PRMS 1P, 2P and 3P reserves does not purport to present the fair value of our proved CBM gas reserves or our PRMS reserves.
NPV10 for the PRMS 1P, 2P and 3P reserves amounts above represent the present value of estimated future revenues to be generated from the production of the specified amounts of PRMS reserves, calculated using the assumptions set forth in the RISC report, without giving effect to non-property related expenses such as general and administrative expenses, debt service and depreciation, depletion and amortization, or future income taxes and discounted using an annual discount rate of 10%.
Far East Energy Corporation cautions that the disclosures shown above are based on estimates of PRMS reserves and future production schedules which are inherently imprecise and subject to revision, and the 10% discount rate is arbitrary. In addition, costs and prices as of the measurement date are used in the determinations, and no value may be assigned to PRMS reserves. Estimates of economically recoverable PRMS reserves and of future net cash flows are based upon a number of variable factors and assumptions, all of which are to some degree subjective and may vary considerably from actual results. Therefore, actual production, revenues, development and operating expenditures may not occur as estimated. The PRMS reserves data are estimates only, are subject to many uncertainties, and are based on data gained from production histories and on assumptions as to geologic formations and other matters. Actual quantities of CBM may differ materially from the amounts estimated.
The SEC permits oil and gas companies, in their filings with the SEC, to disclose only proved, probable and possible reserves as defined in SEC Regulation S-X Section 210.4-10(a). We use certain terms in this news release, such as “PRMS reserves” and “NPV10,” that are not permitted to be included in filings with the SEC. Investors are urged to consider closely the disclosure in our Form 10-K, File No. 0-32455, available over the Internet at the SEC’s website at http://www.sec.gov.
CEO Update Conference Call
FEEC recently announced it will host a CEO update conference call on April 18, 2013 beginning at 9:00 a.m. CDT for shareholders and other interested parties. Details for participation in the upcoming call can be found on the Company’s website at: http://www.fareastenergy.com.
Far East Energy Corporation
Based in Houston, Texas, with offices in Beijing, and Taiyuan City, China, Far East Energy Corporation is focused on coalbed methane exploration and development in China.
Resource Investment Strategy Consultants (RISC)
RISC is an independent advisory firm that works in partnership with companies to support their interests in the oil and gas industry. RISC offers the highest level of technical, commercial and strategic advice to clients around the world. RISC services include the preparation of independent reports for listed companies in accordance with regulatory requirements. RISC is independent with respect to Far East Energy Corporation.
Statements contained in this press release that state the intentions, hopes, estimates, beliefs, anticipations, expectations or predictions of the future of Far East Energy Corporation and its management are forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. It is important to note that any such forward-looking statements are not guarantees of future performance and involve a number of risks and uncertainties. Actual results could differ materially from those projected in such forward-looking statements. Factors that could cause actual results to differ materially from those projected in such forward-looking statements include: the preliminary nature of well data, including permeability and gas content; there can be no assurance as to the volume of gas that is ultimately produced or sold from our wells; the fracture stimulation and drilling programs may not be successful in increasing gas volumes; due to limitations under Chinese law, we may have only limited rights to enforce the gas sales agreement between Shanxi Province Guoxin Energy Development Group Limited and China United Coalbed Methane Corporation, to which we are an express beneficiary; additional wells may not be drilled, or if drilled may not be timely; additional pipelines and gathering systems needed to transport our gas may not be constructed, or if constructed may not be timely, or their routes may differ from those anticipated; the pipeline and local distribution/compressed natural gas companies may decline to purchase or take our gas, or we may not be able to enforce our rights under definitive agreements with pipelines; conflicts with coal mining operations or coordination of our exploration and production activities with mining activities could adversely impact or add significant costs to our operations; our lack of operating history; limited and potentially inadequate management of our cash resources; risk and uncertainties associated with exploration, development and production of coalbed methane; our inability to extract or sell all or a substantial portion of our reserves and other resources; we may not satisfy requirements for listing our securities on a securities exchange; expropriation and other risks associated with foreign operations; disruptions in capital markets affecting fundraising; matters affecting the energy industry generally; lack of availability of oil and gas field goods and services; environmental risks; drilling and production risks; changes in laws or regulations affecting our operations, as well as other risks described in our Annual Report on Form 10-K, Quarterly Reports on Form 10-Q and subsequent filings with the Securities and Exchange Commission.
Source: Far East Energy Corporation

Written by asiafreshnews

April 17, 2013 at 11:24 am

Posted in Uncategorized

Quintiq Chosen by VolkerRail for Company-wide Planning

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‘S-HERTOGENBOSCH, The Netherlands /PRNewswire/ —
Quintiq, a global leader in supply chain planning and optimization (SCP&O), today announced that VolkerRail, a Dutch-based specialist railway infrastructure contractor, has chosen Quintiq for project and multi-resource planning across its operations.
(Logo: http://photos.prnewswire.com/prnh/20130328/606756)
Quintiq will develop and deliver to VolkerRail a single, SCP&O platform configured to meet 100% of the company’s workforce planning constraints. Replacing a number of its current systems, Quintiq’s solution will empower VolkerRail to plan and schedule employees and machines for construction and maintenance activities. The integrated, KPI-driven application will enable all VolkerRail departments to improve their long-term strategic planning efficiency, short-term capacity planning, and resource utilization of equipment and crew, while realizing IT maintenance cost savings.
“VolkerRail is a visionary company founded on innovation. We are pleased to work with them on yet another leading-edge project to maximize the efficiency of their resources,” said Arjen Heeres, Chief Operating Officer of Quintiq. “With a unique Quintiq planning application in place, VolkerRail will experience increased transparency throughout its decision chain, from long-term strategy all the way down to execution and revision management. This proves yet again that Quintiq is the company to turn to for complex SCP&O puzzles.”
“Quintiq’s tailored solution is a cut above our current systems. It supports an integral planning process affecting all of our divisions – from project tender and work preparation units to planning departments of personnel and machines. The solution will enable better project management and more effective use of resources,” added Jan Vos, CEO of VolkerRail.
About VolkerRail
Owned by Netherlands-based VolkerWessels, VolkerRail specializes in railway construction and maintenance. http://www.volkerrail.nl
About Quintiq
Quintiq’s revolutionary supply chain planning and optimization (SCP&O) platform enables enterprises to improve efficiency at every stage of the supply chain journey. It powers end-to-end planning and optimization of personnel, resources, and processes in a single planning environment, across all planning horizons. Many of the world’s largest and most successful enterprises rely on Quintiq to achieve their business goals, strengthen their competitive advantage, and create new revenue streams.
Established in 1997 and growing rapidly, Quintiq has a global presence with dual headquarters in the Netherlands and the USA, a global development center in Malaysia, and offices around the world. Quintiq’s software is in use at over 500 locations in 78 countries worldwide.
For more information, visit http://www.quintiq.com or follow Quintiq on Twitter, Facebook, LinkedIn and YouTube.
Quintiq
Charlotte Poh
Global Marketing Communication Manager
T: +31-73-691-07-39
E: pressrelease@quintiq.com
Source: Quintiq

Written by asiafreshnews

April 17, 2013 at 11:10 am

Posted in Uncategorized

rocket media communications, the Solution to the Challenges of Communication Today: Higher, Faster, Further

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VIENNA, Austria/PRNewswire/ —
rocket media communications, whose innovative concept is setting new standards in the world of global communications, is the world’s first TV communications agency based in Austria.
To view the Multimedia News Release, please click:
http://www.multivu.com/mnr/60641-rocket-media-communications
Day after day, communications experts are confronted by a bewildering variety of communications options and challenged to make the right decisions. Buzzwords such as “cost-cutting”, “target-group effectiveness”, “increased recognition”, “credibility in times of crisis” and, increasingly, “global communication” have become the order of the day. The question of how to meet these high expectations is essential to the business today.
The answer lies with rocket media communications’ unique concept. The Austrian TV communications agency develops customized television formats for businesses or business locations and then ensures that these are distributed to almost every television broadcaster in the world.
Infotainment is just one component in this successful recipe. As the name suggests, infotainment is a combination of information and entertainment, which the creative forces at rocket media communications achieve to perfection. Diverse information, strategic messages or customer products are packaged as interesting stories within TV documentaries, short films or news formats. The journalistic workup ensures strong credibility, whilst the link to global economic, cultural and social themes generates international relevance. Michael Grabner, rocket media communications’ Managing Director, simply calls it “public relations in moving pictures,” adding “without having to pay for expensive advertising.”
The trick to effective, value-for-money public relations lies in the refined TV formats being supplied free to around 6,500 TV stations worldwide, which results in massive broadcast rates. A large sales team is responsible for the complex distribution. Although the customer covers the production and distribution costs, the pay-off is a guaranteed global or specifically targeted audience of millions, or even billions, at a comparatively low cost.
Both business and tourism regions, and international companies, have recognised this new advertising format’s potential, which has attracted customers such as the Republic of Kazakhstan. The image movies and documentaries produced ahead of the ‘Asian Winter Games 2011’ in Kazakhstan were shown on a total of 690 TV channels worldwide, including the BBC, euronews, CNN, Eurosport, Asia News International, Russia Today TV, CCTV and Reuters, resulting in 1,600 broadcast hours and 1.4 billion viewers.
Modern TV communications have also proved to be effective in other areas. Important global economic topics were covered in reports from the Kazakh “Astana Economic Forum”, attended by 12 Nobel Prize winners. The educational work entitled “The Atom Project” also reached a global audience, whilst billions of people were informed about and inspired by innovative energy, technological and social projects when the annual Energy Globe Awards were broadcast.
The concept also boasts impressive media values, potentially reaching hundreds of million Euros, figures which often remain unmatched with high advertising budgets. 500 hours of TV coverage and a media value of at least 25 million Euros are guaranteed by rocket media communications for every project.
It’s hardly surprising that media-output such as this has attracted the attention of international corporations such as Nokia, Siemens and LIC China, who now launch their businesses and products on international television using this new communication method.
rocket media communications guarantees what others cannot even begin to offer: global presence, global attention for multilateral themes, impressive media values at comparatively low costs and credible PR with longevity – in short the perfect concept for anyone who wants to aim higher, faster and further with their communication.
* Media Contacts:
Michael Grabner
CEO rocket media communications
T: +43-463-287-800-30
Email: office@rocketmedia.at
http://www.multivu.com/mnr/60641-rocket-media-communications
Source: rocket media communications

Written by asiafreshnews

April 17, 2013 at 10:33 am

Posted in Uncategorized