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Archive for March 15th, 2016

New Car Sharing Economy Disrupts Automotive Industry: ABI Research Predicts 400 Million People to Rely on Robotic Car Sharing by 2030

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LONDON /PRNewswire/ — Driverless cars are disrupting the automotive industry and supply chain, propelling car sharing forward as the ultimate, mainstream transportation mode. This new car sharing economy is already well in motion, and with it continuing to ramp up, ABI Research, the leader in transformative technology innovation market intelligence, forecasts that 400 million people will rely on robotic car sharing by 2030.

Logo – http://photos.prnewswire.com/prnh/20151014/276887LOGO

“The new car sharing economy happens in three phases: street rental service, ride sharing service, and robotic service,” says Dominique Bonte, Managing Director and Vice President at ABI Research. “The automotive industry is in the process of merging phases one and two, with robotic service to become the ultimate form of transportation for its availability, convenience, and affordability.”

Zipcar, the world’s largest car sharing and car club service, is a prime example of street rental service. Interested users go to a pre-determined parking spot to unlock a shared car, ride it to their destination, and then return it for the next user. Uber is a primary example of the ride sharing service, through which companies hire private drivers to drive their own vehicles to transport customers. The innovative robotic service will mark the beginning of the driverless car era, in which cars can drive themselves to pick up customers.

“Car sharing is successful because the increased efficiency through higher vehicle utilization rates drives down costs, which results in more affordable transportation,” continues Bonte. “Why go through the expense of purchasing a car, and then regular insurance and maintenance fees, when we can all embrace the new car sharing economy?”

The new car sharing economy is a classic example of crowdsourcing, and as such is driving many GenY supporters. The principal benefits extend beyond the collaboration aspect, though, and include the ability to tap into and monetize personally owned assets and real-time matching of supply and demand. While matching supply and demand was previously much harder, the new car sharing model is able to increase car capacity, when required, through dynamically optimizing pricing. For instance, Uber’s surge pricing system significantly increases rates during peak times to increase driver incentive and ultimately place more cars on the road to improve availability. Once Uber achieves its goal, it lowers the rates back down to their standard level.

In all, successive generations of car sharing will progressively impact and disrupt markets and verticals, such as private transportation, public transportation, and ultimately the entire automotive industry. “Once the new car sharing economy reaches its final frontier, robotic car services will transform the industry, resulting in decreased car ownership, blurred lines between public and private transportation, enhanced social mobility, new infotainment paradigms, and an overall consolidation of the automotive industry,” concludes Bonte.

These findings are part of ABI Research’s Automotive Safety and Autonomous Driving Service (https://www.abiresearch.com/market-research/service/safety-and-security-telematics/) and Smart Transportation Service (https://www.abiresearch.com/market-research/service/intelligent-transportation-systems/), which includes research reports, market data, insights, and competitive assessments.

About ABI Research

For more than 25 years, ABI Research has stood at the forefront of technology market intelligence, partnering with innovative business leaders to implement informed, transformative technology decisions. The company employs a global team of senior analysts to provide comprehensive research and consulting services through deep quantitative forecasts, qualitative analyses and teardown services. An industry pioneer, ABI Research is proactive in its approach, frequently uncovering ground-breaking business cycles ahead of the curve and publishing research 18 to 36 months in advance of other organizations. In all, the company covers more than 60 services, spanning 11 technology sectors. For more information, visit www.abiresearch.com.

Contact Info: Christine Gallen

Tel: +44.203.326.0142

pr@abiresearch.com

Source: ABI Research

Written by asiafreshnews

March 15, 2016 at 5:44 pm

Posted in Uncategorized

ONEm wins award for Technology Innovation from Entrepreneur Magazine

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LONDON /PRNewswire/ — ONEm Communications, the company executing big plans for the communications and services landscape, has received an award from Entrepreneur Magazine Middle East. The award, presented at the Enterprise Agility Awards, honours the company’s innovation in the global telecommunications sphere and acknowledges ONEm as a clear industry innovator who has made a significant contribution to the Middle East business arena and globally.

ONEm wins award for Technology Innovation
ONEm wins award for Technology Innovation

ONEm co-founders MyHoa Tien, Hatim Ibrahim and Christopher Richardson were in attendance to collect the prestigious award at the event which was held at The Westin Mina Al Seyahi in Dubai, UAE. Further to this, ONEm was chosen to feature on the front cover of the December issue of The Entrepreneur Magazine.

“No other company is doing what we are doing,” Tien explains.

Over recent years, mobile operators have seen a decline in their voice and SMS streams as OTT services have put a significant pressure on them to find new ways to innovate their service offerings over the network.

The ONEm ecosystem allows operators to innovate quickly without any investment in additional infrastructure. ONEm allows mobile operators to produce high-quality smart services over the network and users are can access period based communication without the need for internet.

About ONEm Communications
ONEm sees itself as a friendly global innovator for the benefit of Mobile Network Operators to further their reach with global community services that work over their Voice and SMS networks.

ONEm is a company focused on developing an ecosystem that enables these core assets to reach their true potential. In the face of relentless internet innovation, ONEm sees an opportunity to provide Mobile Operators with a new channel that is complementary to their existing business.

ONEm creates a new user experience by bringing to ordinary mobiles a capability so far only enjoyed by internet-enabled devices.

Press Contact
MyHoa Tien
Chief Commercial Officer
myhoa.tien@onem.com

Photo – http://photos.prnasia.com/prnh/20160314/8521601660

Source: ONEm Communications

Written by asiafreshnews

March 15, 2016 at 5:41 pm

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BDO Unibank, Inc. to Present at the March 17, 2016 dbVIC – Deutsche Bank ADR Virtual Investor Conference

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-Company invites investors to attend interactive virtual investor conference

MANILA, Philippines and NEW YORK /PRNewswire/ — BDO Unibank, Inc., (BDO, BDOUY) based in Philippines, today announced that Richard R. Tan, FVP of Investor Relations and Corporate Planning, will present at the dbVIC – Deutsche Bank ADR Virtual Investor Conference. This virtual investor conference is aimed exclusively at introducing global companies with American Depositary Receipts programs to US investors.

Logo – http://photos.prnewswire.com/prnh/20160129/327291LOGO

DATE: March 17, 2016
TIME: 10.00 ET
LINK: www.adr.db.com/dbvic

This will be a live, interactive online event where investors in the US are invited to ask international companies their questions in real-time and to download a company’s information in their “virtual trade booth” in the Exhibits section. If attendees are not able to join the event live on the day of the conference, an on-demand archive will be available for 90 days.

Participation is free of charge.

It is recommended that investors pre-register to save time and receive event updates.

About BDO

BDO is a full-service universal bank which provides a wide range of corporate and retail banking services that include traditional loan and deposit products, as well as treasury, trust banking, investment banking, private banking, rural banking, cash management, leasing and finance, remittance, insurance, retail cash cards and credit card services. BDO has one of the largest distribution networks, with more than 1,000 operating branches and over 3,000 ATMs nationwide. It also has a branch in Hong Kong as well as 26 overseas remittance and representative offices in Asia, Europe, North America and the Middle East. BDO ranked as the largest bank in terms of total assets, loans, deposits and trust assets under management based on published statements of condition as of 31 December 2015. For more information, please visit www.bdo.com.ph.

Disclaimer:

This presentation and the presentation materials distributed herewith include forward-looking statements. All statements, other than statements of historical facts that address activities, events, or developments that BDO Unibank, Inc. (“BDO”) expects or anticipates will or may occur in the future (including but not limited to projections, targets, estimates and business plans) are forward-looking statements.  BDO’s actual results or developments may differ materially from those indicated by these forward-looking statements as a result of various factors and uncertainties, including but not limited to price fluctuations, actual demand, exchange rate fluctuations, market shares, competition, changes in legal, financial and regulatory frameworks, international economic and financial market conditions, political risks, cost estimates, and other risks and factors beyond our control. In addition, BDO makes the forward-looking statements referred to herein as of today and undertakes no obligation to update these statements.

Source: BDO Unibank, Inc.
Related Links:

Written by asiafreshnews

March 15, 2016 at 5:35 pm

Posted in Uncategorized

Metro Pacific Investments Corporation to Present at the March 17 dbVIC – Deutsche Bank ADR Virtual Investor Conference

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-Company invites investors to attend interactive virtual investor conference

NEW YORK /PRNewswire/ — Metro Pacific Investments Corporation, (PSE:MPI) based in the Philippines, today announced that Albert WL Pulido, Head of Investor Relations, will present at the dbVIC – Deutsche Bank ADR Virtual Investor Conference. This virtual investor conference is aimed exclusively at introducing global companies with American Depositary Receipts programs to US investors.

Logo – http://photos.prnewswire.com/prnh/20160129/327291LOGO

DATE: March 17, 2016
TIME: 09.30 ET
LINK: www.adr.db.com/dbvic

This will be a live, interactive online event where investors in the US are invited to ask international companies their questions in real-time and to download a company’s information in their “virtual trade booth” in the Exhibits section. If attendees are not able to join the event live on the day of the conference, an on-demand archive will be available for 90 days.

Participation is free of charge.

It is recommended that investors pre-register to save time and receive event updates.

About Metro Pacific Investments Corporation:

Metro Pacific Investments Corporation is an infrastructure-focused investment and management company listed on the Philippine Stock Exchange. Through its subsidiaries and affiliates, the company controls the largest water utility, electricity distribution, toll road operator and hospital network in the Philippines.

Disclaimer:

This presentation may contain “forward-looking statements” which are subject to a number of risks and uncertainties that could affect MPIC’s business and results of operations. Although MPIC believes that expectations reflected in any forward-looking statements are reasonable, it can give no guarantee of future performance, action or events.

Source: Metro Pacific Investments Corporation

Related stocks: Manila:MPI OTC-PINK:MPCIY

Written by asiafreshnews

March 15, 2016 at 5:27 pm

Posted in Uncategorized

Iveco Stralis to be featured in Warner Bros. Pictures’ upcoming action adventure Batman v Superman: Dawn of Justice

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-The Iveco Stralis Hi-Way, “International Truck of the Year 2013”, will be featured in the highly anticipated film, Batman v Superman: Dawn of Justice, opening worldwide beginning March 25, 2016. The inclusion of Iveco’s heavy-duty commercial vehicle is part of a one-of-kind co-branded partnership between CNH Industrial sister company Fiat Chrysler Automobiles (FCA US LLC) and Warner Bros. Pictures.

LONDON /PRNewswire/ — CNH Industrial has partnered with its sister company Fiat Chrysler Automobiles North America (FCA US LLC) to provide vehicles for director Zack Snyder’s Batman v Superman: Dawn of Justice. The film, which stars Ben Affleck and Henry Cavill is set for worldwide release beginning March 25, 2016, from Warner Bros. Pictures.

Photo – http://photos.prnewswire.com/prnh/20160314/343647
Logo – http://photos.prnewswire.com/prnh/20160119/323658LOGO

The unique alliance between FCA US LLC and Warner Bros. Pictures for this film includes the appearance of commercial vehicles from CNH Industrial brand Iveco. The heavy-duty Iveco Stralis Hi-Way makes its cinematic debut in a high-speed chase scene alongside the iconic Batmobile.

With much of the action in Batman v Superman: Dawn of Justice being captured in and around FCA’s own backyard of Detroit, product integration was organic to the filmmakers’ vision, and FCA and CNH Industrial’s extensive brand and product portfolio allowed the companies to address nearly every vehicle need for the film. In addition to Iveco’s Stralis heavy-duty commercial vehicle, the film’s fleet includes Jeep, Dodge, Chrysler, FIAT, Alfa Romeo and Maserati vehicles.

About Batman v Superman: Dawn of Justice
Warner Bros. Pictures presents, an Atlas Entertainment/Cruel and Unusual production, a Zack Snyder film, Batman v Superman: Dawn of Justice, starring Oscar winner Ben Affleck (Argo) as Batman/Bruce Wayne and Henry Cavillas Superman/Clark Kent in the characters’ first big-screen pairing. Directed by Snyder, the film also stars Oscar nominees Amy Adams (American Hustle), Jesse Eisenberg (The Social Network), Diane Lane (Unfaithful) andLaurence Fishburne (What’s Love Got to Do with It); Oscar winners Jeremy Irons (Reversal of Fortune) and Holly Hunter (The Piano); and Gal Gadot as Wonder Woman/Diana Prince. Snyder directed from a screenplay written by Oscar winner Chris Terrio (Argo) and David S. Goyer, based on characters from DC Comics, including Batman, created by Bob Kane with Bill Finger, and Superman, created by Jerry Siegel and Joe Shuster. The film is produced by Oscar nominee Charles Roven (American Hustle) and Deborah Snyder, with Wesley Coller, Geoff Johns andDavid S. Goyer serving as executive producers. Batman v Superman: Dawn of Justice will be released in RealD 3D, and in 2D, and in select IMAX 3D theaters worldwide beginning March 25, 2016, from Warner Bros. Pictures, a Warner Bros. Entertainment Company. batmanvsupermandawnofjustice.com

CNH Industrial N.V. (NYSE: CNHI /MI: CNHI) is a global leader in the capital goods sector with established industrial experience, a wide range of products and a worldwide presence. Each of the individual brands belonging to the Company is a major international force in its specific industrial sector: Case IH, New Holland Agriculture and Steyr for tractors and agricultural machinery; Case and New Holland Construction for earth moving equipment; Iveco for commercial vehicles; Iveco Bus and Heuliez Bus for buses and coaches; Iveco Astra for quarry and construction vehicles; Magirus for firefighting vehicles; Iveco Defence Vehicles for defence and civil protection; and FPT Industrial for engines and transmissions. More information can be found on the corporate website:www.cnhindustrial.com

 

Media contacts:

Alessia Domanico

Laura Overall

Corporate Communications – Global

Corporate Communications Manager

CNH Industrial

CNH Industrial

Tel: +44 (0)2077 660 326

Tel. +44 (0)2077 660 338

Email: mediarelations@cnhind.com  

www.cnhindustrial.com

Source: CNH Industrial N.V.

Related stocks: Milan:CNHI NYSE:CNHI

Written by asiafreshnews

March 15, 2016 at 5:20 pm

Posted in Uncategorized

Shell delivers more Brazil deep-water production from Parque das Conchas

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-Third phase of major deep-water project delivered, optimizing production capacity

HOUSTON /PRNewswire/ — Shell and its joint venture announce the start of oil production from the third phase of the deep-water Parque das Conchas (BC-10) development in Brazil’s Campos Basin. Production for this final phase of the project is expected to add up to 20,000 barrels of oil equivalent per day (boe/d), at peak production, from fields that have already produced more than 100-million barrels since 2009.

Logo – http://photos.prnewswire.com/prnh/20120917/MM76045LOGO

“The safe, early delivery of this production is a testament to the efficiency of our deep-water project execution,” said Wael Sawan, Executive Vice-President, Deep Water, Shell. “With this phased project, we have again demonstrated value from standardization, synergies from contractual relationships, and the strategic deployment of new technologies. These barrels, like other subsea tieback opportunities across our deep-water portfolio, have development cost advantages and will contribute to the strong production growth we expect from offshore Brazil.”

Shell is a global leader in deep water with a strong development pipeline following last month’s completion of the BG combination, across offshore Brazil, the U.S. Gulf of Mexico, Nigeria, and Malaysia.

Operated by Shell (50%) and owned together with ONGC (27%) and QPI (23%), Parque das Conchas Phase 3 comprises five producing wells in two Campos Basin fields (Massa and O-South) and two water-injection wells. The subsea wells sit in water depths greater than 5,900-feet (1,800-meters) and connect to a floating production, storage and offloading (FPSO) vessel, the Espirito Santo, located more than 90-miles (150-kilometers) offshore Brazil.

Parque das Conchas Phase 3 is the latest, major deep-water project for Shell. Shell deep-water sanctioned projects currently in development include, the Stones project, whose FPSO vessel is now on location in the Gulf of Mexico, and the Appomattox project, also a Gulf of Mexico project, now under construction. Shell is also part of a consortium exploring and developing the giant, pre-salt Libra field, offshore Brazil, and recently completed the acquisition of BG, which includes significant deep-water Brazil positions.

Editor’s notes:

Source: Shell
Related Links:

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March 15, 2016 at 5:18 pm

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GRESB Launches Health & Well-being Module for the Real Estate Industry

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-Health and well-being rapidly emerging as important area of opportunity for the industry

AMSTERDAM /PRNewswire/ — GRESB, the global standard for Environmental, Social and Governance (ESG) assessment of real estate portfolios and infrastructure assets, today announced the launch of the GRESB Health & Well-being Module. This new module is an optional supplement to the GRESB Real Estate Assessment, which is an annual survey on behalf of a large group of institutional investors that captures information regarding the ESG performance of property companies, fund managers and developers.

The new module evaluates and benchmarks actions by property companies and funds to promote the health and well-being of employees and their strategy to create value through products and services that promote health and well-being for their tenants and customers.

“The design, construction and operation of our built environment has a profound impact on individuals and populations,” said Chris Pyke, COO, GRESB. “GRESB’s vision is to ultimately create better places for people and communities – places that reduce environmental impacts, improve social practices and set high standards for corporate governance – in profitable ways that make good business sense and reward innovation. This new Health & Well-being Module adds an additional component to the annual GRESB Assessment and sends a signal that human health and well-being plays a critical role in assessing the value of real estate portfolios and other assets.”

Real estate development can serve to create superior places – places that enhance productivity, support physical activity, promote social interaction, provide access to vital services and contribute to happiness.

As interest in health and well-being in the built environment grows, the industry has recognized the need for practical tools for systematic assessment, objective scoring and peer benchmarking of health and well-being.

The GRESB Health & Well-being Module includes 10 new indicators providing investors and property companies and funds with new insights on leadership, needs assessment, implementation action and performance monitoring. The module has two primary areas of focus: (1) the promotion of health and well-being for employees and (2) the provision of products and services that help promote health and well-being for tenants and other customers. This parallel focus allows investors and property companies and funds to differentiate action to benefit internal operations (employees) from value-creating products and services offered to others.

“The GRESB Health & Well-being Module will make real estate companies and funds more transparent and make comparative information more accessible and actionable for investors. This represents an important step toward resolving long-standing market failures and making health an investible attribute of real estate,” says Dr. Matt Trowbridge, Associate Professor, Associate Research Director, Department of Public Health, University of VirginiaSchool of Medicine

The GRESB Health & Well-being Module is now available in pre-release via the GRESB website and will be open for submission starting April 1, alongside the GRESB Real Estate Assessment.

Learn more at GRESB.com and follow us on Twitter @_GRESB.

CONTACT: Marisa Long, 412-877-7592, Mlong@usgbc.org

Source: GRESB
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Written by asiafreshnews

March 15, 2016 at 5:14 pm

Posted in Uncategorized

Pharma Ingredients suppliers to benefit from Indonesia’s first ever tax free logistics centers

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JAKARTA, Indonesia /PRNewswire/ — On March 10th Indonesia launched its first-ever bonded logistics centers (PLB) to which products can be shipped and stored for up to three years during which they will be exempted from import duties and import-related taxes.

Warehouse

This constitutes a long awaited support to local industries including pharma which still imports up to 90% of the ingredients needed for the production of medicines. By storing goods in PLBs, overseas suppliers can drasticallycut the delivery time to the local buyers.

This breaking news together with many other hot topics will be discussed at CPhI South East Asia the only regional event dedicated to the pharma industry, held at Jakarta International Expo during April 6-8, 2016.Sign up now to attend!

11 PLBs were simultaneously inaugurated by President Joko “Jokowi” Widodo who told the audience thatIndonesia, the biggest economy in the region, had the potential to replace Singapore and Malaysia as Southeast Asia’s logistics centers (Source: The Jakarta Post).

The centers are located in Jakarta (Cakung, Sunter), Banten (Merak), East Kalimantan (Balikpapan), West Java(Cibitung, Karawang, Cikarang and Subang) and Bali (Benoa and Denpasar). The government plans the establishment of 50 more bonded logistics centers across the archipelago in 2017.

The CPhI series of events drives growth and innovation in the global pharmaceutical industry, with leading exhibitions and online communities covering every step of the supply chain from drug discovery to finished dosage.

More than 100,000 visitors meet over 6,000 exhibitors at events in Europe, China, India, Japan, South East Asia,Russia, Brazil, Istanbul and Korea every year to exchange ideas, form alliances and conduct business on an international scale.

Contact Person: Ivan Ferrari
Phone Number: +62 21 2930 5959 ext 138
Email: Ivan.Ferrari@ubm.com

Organised by UBM Malaysia
Organised by UBM Malaysia

Photo – http://photos.prnasia.com/prnh/20160314/8521601625
Logo – http://photos.prnasia.com/prnh/20150730/8521504987LOGO

Source: CPhI – UBM

Written by asiafreshnews

March 15, 2016 at 3:55 pm

Posted in Uncategorized

Atradius Collections Strengthens Its Presence in India

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AMSTERDAM /PRNewswire/ —

Atradius Collections announces the opening of a new office in Mumbai, India. The company continues to expand into new markets, strengthening its global market position.

(Logo: http://photos.prnewswire.com/prnh/20150421/740164-a )

India’s economy is the 7th largest in the world by Nominal GDP and the third largest by Purchasing Power Parity (PPP). In Q4 of 2014, India became the leading growth engine in emerging Asia, expanding faster than China. Indiais classified as a newly industrialised country and is one of the G-20 major economies.

Managing Director Raymond van der Loos acknowledges opportunities in India. “Due to India’s new government and the increasing number of new investors and businesses, India’s average growth rate has accelerated to 7%. This suggests a growing range of opportunities for local and foreign businesses to participate in India’s economy.”

With the opening in Mumbai, Atradius Collections is now able to provide full services locally. In Asia Pacific, the company also has offices in Australia, China, Hong Kong and Singapore.

Global reach and knowledge, local service

Doing business in India can sometimes be challenging as you need to fully understand the business environment and the legal differences. Therefore, a physical presence and local knowledge are crucial to understanding the rules of collecting debts in India. “India is a large country. We have a strong team of experts in Mumbai with the right background and knowledge. With the help of our extensive network, we can visit debtors across the country,” saysRaymond van der Loos.

Building relationships and understanding the local culture and language are important in doing successful business. Being close to the customers enables Atradius Collections to maintain positive interpersonal relationships with the debtors. “Our local presence enables us to more easily contact, negotiate with and convince Indian debtors to pay both for overseas and domestic companies,” states Vikas Malik, the Head of Operations at the Mumbai office.

Payments in India are being delayed to keep money in the company and to avoid borrowing from banks due to the high interest rate, which might lead to an increase in non-payments and insolvencies. Consequently the added value of helping international customers locally is prominent.

For more information about the new office in India please visit http://www.atradiuscollections.com.

About Atradius Collections

Through a presence in 25 countries, Atradius Collections provides trade invoice collection services in 96% of the countries across the world. Its wide breadth of services, ranging from first party to legal collections, helps companies around the globe recover unpaid invoices. Atradius forms part of Grupo Catalana Occidente (GCO.MC), one of the leading insurers in Spain and worldwide in credit insurance.

http://www.atradiuscollections.com

http://www.linkedin.com/company/atradius-collections

http://www.twitter.com/AtradiusCollect

Source: Atradius N.V.

Written by asiafreshnews

March 15, 2016 at 3:44 pm

Posted in Uncategorized

Gina Krog Transaction Update

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LONDON /PRNewswire/ — Sequa Petroleum N.V. (the “Company“) is pleased to announce an update to its planned acquisition of a 15% interest in Gina Krog. This acquisition was announced on 19 October 2015.  Since then, the Gina Krog acquisition has received all necessary government approvals, and the Company’s 100% subsidiary Tellus Petroleum A.S. (“Tellus“) has been approved as a new Norwegian Continental Shelf’s (“NCS“) licence holder.

Gina Krog is one of the NCS largest current developments. The development, operated by Statoil, is currently within budget and on schedule for first production in Q2 2017. In light of the current industry environment, cost reductions and schedule improvements of the Gina Krog project are currently being pursued.

The 2P reserves are estimated at approximately 260 million barrels of oil equivalent (“boe“), of which 39 million boe are net to the Company[1]. OPEX and CAPEX costs are both estimated at approximately USD 15 per boe. These estimates are calculated over the field life, from the effective date of 1 January 2015 (being the effective date of the Company’s acquisition), representing a low marginal cost[1].

The Gina Krog field has further resource potential beyond its 2P reserves. There is potential, through development optimisation, for prolongation of the first production plateau, as well as from several appraisal segments which were not included in the initial PDO. One of these segments, the East 3 segment, has already been successfully drilled in 2015. In addition, there is further resource potential from exploration. Historically, most large fields on the NCS have significantly outperformed their initial PDO submissions.

The transaction terms for the acquisition of Gina Krog, announced on 19 October 2015, are at an attractive discount to comparable transactions in Norway. These terms result in all-in costs until first production of approximately USD 9 per boe of 2P reserves. The seller will retain the tax balances related to the Gina Krog investments prior to the effective date.

The Company believes that Norway provides the world’s most secure and stable operating environment for oil and gas. Norway boasts a strong AAA rated sovereign government that actively encourages and incentivises the industry, and is isolated from geopolitical crises. The Norwegian petroleum tax environment provides unparalleled downside protection, by giving companies the potential to recover up to 94% of their development costs.

The Company is planning to finance the Gina Krog transaction with a combination of equity raised by the Company and of debt raised by both the Company and Tellus, which will be the subject of a future announcement.  The Company expects to complete the Gina Krog transaction in April 2016.

Company Update

The Company’s strategy is to create value in a cyclical industry by means of asset acquisition, optimisation and monetisation, applying both technical and financial excellence. The strategic focus is on assets with proven resources, current and near term production, and value upsides, pursuing a balanced asset portfolio in select areas with low marginal cost, exploiting growth potential and synergies. The current global over-supply of oil and the resulting environment of temporarily depressed prices are fuelling liquidity distress and capex cuts across the industry, providing an unprecedented opportunity to acquire high quality assets at very attractive valuations.

The acquisition of a 15% interest in Gina Krog is a major step in this strategy. The Company will be looking to add assets to its NCS portfolio by leveraging its position as an approved player on the NCS with the experienced and well-connected Tellus management team. This strategy will include considering further areas where the balance of political, fiscal and commercial stability and geological prospectivity allows for stable high returns and growth.

About the Company

The Company is an oil and gas company registered in the Netherlands, with its principal office in London and listed on Euronext Marché Libre. In 2014, the Company established an operating presence in Kazakhstan, acquiring 75% of the Aksai licence which has subsequently been drilled and is currently being evaluated. In 2015, the Company established a presence in Norway, acquiring Tellus Petroleum Invest AS as a 100% subsidiary. Tellus Petroleum AS, a wholly owned subsidiary of Tellus Petroleum Invest AS, has subsequently entered into a sale and purchase agreement with Total to purchase a 15% interest in the Gina Krog field and with OMV to acquire approximately 0.6% of the Ivar Aasen field.

————————————————–

1. Rystad Energy; WoodMackenzie; Gina Krog Environmental Impact Assessment report; Statoil publications; Company estimates; independent evaluation by AGR Petroleum Services AS.

An updated corporate presentation is available on the Company’s  website at http://www.sequa-petroleum.com/corporate/.

For more information please visit http://www.sequa-petroleum.com or contact:

Jacob Broekhuijsen, Chief Executive Officer, +44(0)203-728-4450, info@sequa-petroleum.com

Source: Sequa Petroleum N.V.

Written by asiafreshnews

March 15, 2016 at 3:20 pm

Posted in Uncategorized