Introducing the World’s First Online FPSO Community

SINGAPORE, Oct. 9, 2014 /PRNewswire/ — The FPSO World Congress 2014 sees the launch of the FPSO Network – the World’s First International Resource Centre for Industry Professionals.

Until recently, such an online forum did not exist. To continue to connect FPSO professionals and ultimately move discussions forward for the industry, IQPC is pleased to launch its brand-new FPSO Network in celebration of the 15th anniversary of the FPSO World Congress.

The FPSO Network will be an online portal for the FPSO professional, delivering the latest, insightful and unbiased information pertaining to the entire FPSO value chain. Categorised into major segments including market outlook, FEED, EPCI, operations, safety and asset integrity, financing, or legal and regulatory issues, the FPSO Network will provide members access to news articles, interviews, webinars, videos, white papers, and press releases.

“FPSOs are an increasingly important solution in global oil production, yet since the launch of FPSO World Congress more than 15 years ago there hasn’t been a single independent online resource that delivers industry news and other timely information to the global FPSO community,” said Rani Kuppusamy, Marketing Director, FPSO Network.

“Information is just one part of the service. Not only does the FPSO Network allow industry professionals to take part in a whole host of discussions – be they relating to contracts, financing, procurement and so forth – the portal enables visitors to meet other like-minded professionals.”

Through a range of media options, the FPSO Network also provides industry players the opportunity to position themselves, share their opinions and collaborate with their counterparts. The portal offers professionals the opportunity to submit an article, blog post or white paper, subject to approval by the FPSO Network Editor, as well as allowing industry vendors to advertise their services. For more information about the FPSO Network, simply visitwww.fpsonetwork.com.

For more information please contact

Rani Kuppusamy
Marketing Director
FPSO Network
T +65 6722 9399
W www.fpsonetwork.com
E  rani.kuppusamy@fpsonetwork.com

Source: IQPC Worldwide

How Solution Providers Can Capture the North American Terminal Automation Market

— Integrated solutions and data management offer most valuable advantages to end-users

MOUNTAIN VIEW, Calif. /PRNewswire/ — An increase in oil and gas (O&G) production in North America is expected to spur investments in new terminal infrastructure and further enforce modernization and retrofit additions in existing chemical terminals. While the rise in brownfield projects will allow for more diversified product portfolios for terminal automation, including field devices, controllers and software, the development of greenfield terminals will boost demand for custom terminal automation systems that streamline operational activities, custody transfers and inventory management. However, the North American terminal automation market is likely to witness a slow compound annual growth of 5.5 percent from 2013-2020 as capital expenditure for automation is lower than for upstream exploration and downstream refinery operations.

Integrated solutions and data management offer most valuable advantages to end-users.

Photo – http://photos.prnewswire.com/prnh/20140806/134108

New analysis from Frost & Sullivan, Analysis of the North American Terminal Automation Market, finds that the market earned revenues of $110.5 million in 2013 and estimates this to reach $160.4 million in 2020. The study covers solutions used to automate terminal operations in the O&G, industrial (chemical and petrochemical) and biofuel industries.

For complimentary access to more information to this research, please visit: http://bit.ly/1kmKbk7.

Compared to other components in the O&G and chemical value chain, growth of automation in terminals lags behind as customers do not have a clear-cut business case to justify return on investment. A key area that solution providers can potentially target is data management for business applications, as otherwise, maintaining a local server at terminals incurs high costs.

“The advent of cloud-based technologies provides end users a cost-effective way to monitor business applications such as certification, transaction management and loading operations while still using an on-premise model for mission critical applications,” said Frost & Sullivan Industrial Automation and Process Control Senior Research Analyst Rahul Vijayaraghavan. “Therefore, the software and services market is expected to offer greater opportunities than the commoditized hardware segment as end users look to outsource their in-house engineering capabilities.”

To keep pace with this trend, solution providers are improving after-sales support and adding new rail and pipeline management tools to its existing software platforms. Custom-specific applications for varying terminal requirements are also making inroads in the market.

In addition, the integration of rail loading and unloading operations at the terminal, which includes utilizing various components such as real-time locating systems, global positioning satellites, ocular character recognition, and radio frequency identification, will become a standard in terminal automation systems.

“The North American terminal automation market is moving toward integrated packaged solutions that cater to application-specific requirements of terminal end users,” noted Vijayaraghavan. “Centralized control and operations of all activity inside the terminal will improve efficiency and further strengthen the grounds for automation uptake in North American terminals.”

Analysis of the North American Terminal Automation Market is part of the Industrial Automation & Process Control (http://www.industrialautomation.frost.com) Growth Partnership Service program. Frost & Sullivan’s related studies include: Analysis of Global Automation and Control Systems (ACS) Market in the Upstream Oil and Gas (O&G) Industry, Automation Opportunities in the United States for the Upstream Tight Oil Market, Changing Tides in Offshore Oil and Gas Production: Subsea Automation Opportunities at the Ocean Floor, Automation Modernization Opportunities in the US Refinery Market. All studies included in subscriptions provide detailed market opportunities and industry trends evaluated following extensive interviews with market participants.

About Frost & Sullivan

Frost & Sullivan, the Growth Partnership Company, works in collaboration with clients to leverage visionary innovation that addresses the global challenges and related growth opportunities that will make or break today’s market participants.

Our “Growth Partnership” supports clients by addressing these opportunities and incorporating two key elements driving visionary innovation: The Integrated Value Proposition and The Partnership Infrastructure.

• The Integrated Value Proposition provides support to our clients throughout all phases of their journey to visionary innovation including: research, analysis, strategy, vision, innovation and implementation.
• The Partnership Infrastructure is entirely unique as it constructs the foundation upon which visionary innovation becomes possible. This includes our 360 degree research, comprehensive industry coverage, career best practices as well as our global footprint of more than 40 offices.

For more than 50 years, we have been developing growth strategies for the global 1000, emerging businesses, the public sector and the investment community. Is your organization prepared for the next profound wave of industry convergence, disruptive technologies, increasing competitive intensity, Mega Trends, breakthrough best practices, changing customer dynamics and emerging economies?

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Analysis of the North American Terminal Automation Market
ND84-10

Contact:
Ariel Brown
Corporate Communications – North America
P: +1 (210) 247.2481
F: +1 (210) 348.1003
E: ariel.brown@frost.com

Twitter: @Frost_Sullivan
Facebook: Frost & Sullivan
LinkedIn: Industrial Automation & Process Control Forum

http://www.frost.com

Source: Frost & Sullivan

Far East Energy Announces Second Quarter Results And Increased Revenue for First Half of 2014

HOUSTON/PRNewswire/ — Far East Energy Corporation (OTCBB:FEEC), the U.S. listed company that operates the Shouyang Coalbed Methane (CBM) Production Sharing Contract (PSC) in Shanxi Province, People’s Republic of China, is pleased to announce the filing of its Form 10-Q, for the period ended June 30, 2014.

For the first six months of 2014, revenues rose 209% compared to the same period in 2013, reaching $2.2 millionfor the first half of the year.  This performance reflects (1) the strong increase in gas production and gas sales resulting from the 2013 drilling and fracing program and (2) the significant increase in gas prices being received in 2014 compared to 2013.  Compared to a relatively weak 2^nd quarter in 2013, revenues for the three-months endedJune 30, 2014 increased 324% to $1.1 million.

Gas sales volumes for the six months ending June 30, 2014 averaged 1.35 MMcf/d, up 126% from the same period in 2013, resulting from the newly drilled and fraced wells.  As previously announced, 29 wells in the core Area A production zone were shut-in during the second quarter as being wells located outside the main production area, wells not tied-in to the gas gathering system or wells having ineffective fracs.  Production and sales have remained constant since the beginning of May, despite shutting in these 29 wells in Area A.  A number of these wells are candidates for future recompletions, and should meaningfully enhance production of water and/or gas upon successful recompletion.

Following the previously announced increase in the sales gas price, the average price received for gas sales, inclusive of subsidies and refunds, was $8.87/Mcf in the first half of 2014, up 37% over the same period in 2013.

The company continued to focus on costs during the first half of 2014, and, although direct operating costs rose with the higher production levels, they were down 23% on a per Mcf sold basis, and general and administrative costs were down in total compared to same period in 2013.  The announced well shut-ins will contribute to further cost reductions into the third quarter of 2014, without affecting current production levels.

Commenting, CFO Jennifer Whitley said, “These results show the impact of our 2013 drilling and fracing program, combined with the higher gas price that we are now receiving for our contracted gas sales.  As we continue our ongoing strategic discussions, management is also maintaining its focus on cost controls into the second half of the year.”

ODP
The draft ODP report, which covers Area A, was submitted to the National Energy Administration (“NEA”) of the National Development and Reform Commission (“NDRC”) on June 16, 2014. The NEA is in the process of reviewing the ODP report, and the Company is now awaiting the award of its “Road Pass”.  Area A will exit the exploration period and commence the development period when the ODP receives final regulatory approvals. Final regulatory approval is expected during 2015. Receipt of the “Road Pass” will allow the Company to proceed with the development of Area A while awaiting final regulatory approvals; however, continuing further development and exploration activities does require conclusion of the strategic process currently underway, and on which management is diligently working, in order to provide funding for those activities.

Far East Energy Corporation
Based in Houston, Texas, with offices in Beijing, China, Far East Energy Corporation is focused on coalbed methane exploration and development in China.

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, including that the amendment to the PSC may not be entered into or if entered into may not be on the same terms as originally agreed upon by the parties. 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

Related stocks: OTC-BB:FEEC OTC-BB:FEEC.OB OTC-PINK:FEEC

Shiv Nadar Receives the AIMA Corporate Citizen Award 2014

NEW DELHI /PRNewswire/ —

– Recognized for his philanthropic endeavours in leadership development in India

The All India Management Association, an apex body of professional management in India set up in 1957, awarded the AIMA Corporate Citizen Award 2014 to Shiv Nadar, Founder & Chairman, HCL and Shiv Nadar Foundation, for his unparalleled efforts in philanthropy.

(Photo: http://photos.prnewswire.com/prnh/20140806/700689)

Accepting the award, Shiv Nadar said, “This is a great honor and I thank AIMA for this recognition. Education is a key determinant of development while inclusive education goes a step further to enable the progress and regeneration of communities. The Shiv Nadar Foundation would continue to harness the power of inclusive education to bridge the urban-rural divide and drive exponential social transformation in India by creating leaders from every socio-economic segment.”

Speaking on the occasion, Sanjiv Goenka, Chairman of the Jury, AIMA Managing India Awards 2014 & Chairman, RP-Sanjiv Goenka Group said, “I congratulate Shiv Nadar for the award and for his truly exemplary work in institution building and education. His vision is an inspiration and worthy of emulation and admiration. Under his guidance, HCL and the Shiv Nadar Foundation have established high benchmarks with regards to best business practices and inclusive leadership development.”

Shiv Nadar, acknowledged as visionary in modern computing and technology in India, founded HCL in 1976 as one of India’s original IT garage start-ups. Currently, HCL comprises three companies in India – HCL Technologies, HCL Infosystems and HCL Healthcare with annual revenues of US$ 6.5 billion and over 95,000 professionals from diverse nationalities operating across 31 countries including over 500 points of presence in India.

In 1994, he established the Shiv Nadar Foundation, a private philanthropic organization. A significant driver of social change and transformational education, the Foundation has set up landmark institutions in India spanning the entire education spectrum, from universities and colleges to K-12 schools. These include the SSN Institutions,India’s top ranked engineering college; the Shiv Nadar University, a multidisciplinary university with strong research orientation and Vidya Gyan, a radical experiment in leadership development through free residential education to meritorious rural poor children. The Foundation has invested Rs 2,946 crore till March 2014 as per audited accounts, and is on course to spend Rs 3000 crore committed in 2013 over the next 5 years.

For more information please click here

Bhaswati Chakravorty
Bhaswati.chakravorty@hcl.com
+91-0120-2535071

Source: HCL Technologies Ltd

Frost & Sullivan: Increased Conventional and Unconventional O&G Explorations Drive New Investments in Latin American Positive Displacement Pump Market

— Brand awareness campaigns and training programs on the applications of positive displacement pumps are vital for market success

BUENOS AIRES, Argentina /PRNewswire/ — Strong investment in the oil and gas (O&G) and petrochemical industries in Latin America is fueling the demand for positive displacement pumps in the region. The development of the infrastructure and food and beverage manufacturing industries to meet the accommodation and consumption needs of the expanding population, is also adding momentum to the market.

Oil Platform

Photo – http://photos.prnewswire.com/prnh/20140729/130811

New analysis from Frost & Sullivan, Analysis of the Latin American Positive Displacement Pump Market, finds that the market earned revenues of $464.5 million in 2013 and estimates this to reach $626.7 million in 2020. Although Latin America’s gross domestic product is expected to decelerate to an average of three to four percent, the demand for positive displacement pumps will grow at a compound annual growth rate of 4.4 percent mainly due to new applications in the O&G and petrochemical industries. The study covers rotary, reciprocating and peristaltic pumps.

“With the mining industry in Latin America garnering major interest from state governments and international companies, opportunities for positive displacement pump manufacturers are also emerging in this space,” said Frost & Sullivan Industrial Automation & Process Control Research Analyst Aida Paola Conti.

However, the price sensitivity of end users and their limited awareness on the advantages of positive displacement pumps and alternative technologies have been major obstacles to market development. In addition, the unstable economic condition in some leading Latin American countries has dampened consumer confidence and led to project delays. Along with the expected decrease in foreign direct investment, these factors are challenging positive displacement pump manufacturers.

“In this scenario, successful brand awareness campaigns are critical to gain market acceptance and differentiate products from the competition,” stated Conti. “Training programs on the current and new applications of positive displacement pumps are also important to attract end users across Latin America.”

For more information on this study, please email Francesca Valente, Corporate Communications, atfrancesca.valente@frost.com.

Analysis of the Latin American Positive Displacement Pump Market is part of the Industrial Automation & Process Control (http://www.industrialautomation.frost.com) Growth Partnership Service program. Frost & Sullivan’s related studies include: Global Sanitary Pump Market in the Food and Beverage Industry, Global Pumps Market in the Chemicals Industry, Pumps and Valves in the North American Shale Industry, and Global Metering Pump Market. All studies included in subscriptions provide detailed market opportunities and industry trends evaluated following extensive interviews with market participants.

About Frost & Sullivan

Frost & Sullivan, the Growth Partnership Company, works in collaboration with clients to leverage visionary innovation that addresses the global challenges and related growth opportunities that will make or break today’s market participants.

Our “Growth Partnership” supports clients by addressing these opportunities and incorporating two key elements driving visionary innovation: The Integrated Value Proposition and The Partnership Infrastructure.

• The Integrated Value Proposition provides support to our clients throughout all phases of their journey to visionary innovation including: research, analysis, strategy, vision, innovation and implementation.
• The Partnership Infrastructure is entirely unique as it constructs the foundation upon which visionary innovation becomes possible. This includes our 360 degree research, comprehensive industry coverage, career best practices as well as our global footprint of more than 40 offices.

For more than 50 years, we have been developing growth strategies for the global 1000, emerging businesses, the public sector and the investment community. Is your organization prepared for the next profound wave of industry convergence, disruptive technologies, increasing competitive intensity, Mega Trends, breakthrough best practices, changing customer dynamics and emerging economies?

Contact Us:     Start the discussion

Join Us:           Join our community

Subscribe:       Newsletter on “the next big thing”

Register:         Gain access to visionary innovation

Analysis of the Latin American Positive Displacement Pump Market
ND7F-10

Contact:
Francesca Valente
Corporate Communications — Latin America
P: +54-11-4777-5300
F: +54-11-4777-5300
E: francesca.valente@frost.com

http://www.frost.com

Photo – http://photos.prnasia.com/prnh/20140730/8521404291

Source: Frost & Sullivan

OIL Announces an Increase in per Occurrence Limits to $400 Million

HAMILTON, Bermuda/PRNewswire/ — At its July 23^rd, 2014 Board of Directors meeting, Oil Insurance Limited (OIL) elected to increase its per occurrence limit from $300 million to $400 million and the event aggregation limit from $900 million to $1.2 billion effective January 1^st, 2015. Furthermore, OIL will give its members until January 1, 2017 to move to the $400 million limit in order to facilitate the adoption of the additional$100 million limit into their insurance programs. Atlantic Named Windstorm (ANWS) limits will remain the same at $150 million part of $250 million with a $750 million event aggregation limit.

Robert D. Stauffer, President & CEO, said that the decision to increase the limit was supported by a significant majority of the members who requested the increase in a membership survey conducted in May of this year. “Our members were clear that an increase in limits would be very helpful in their quest to keep pace with the significant investments they are making in Oil & Gas projects around the world. It is not uncommon for our members to invest in $10-$40 billion projects and our “All Risks” policy can seamlessly and directly take them through the construction phase and into operation without the concern of coverage challenges. Our goal at OIL is to constantly evolve our value proposition to accommodate the current needs of our members and increasing limit does just that. The current limit increase closely follows a $300 million cash dividend in 2014, a $100 million premium credit in 2013 and a prior limit increase of $50 million in 2012.”

For more information about OIL’s property coverages and related value go to http://www.oil.bm.

Oil Insurance Limited (OIL) insures over two trillion dollars of global energy assets for more than fifty members with property limits up to $400 million totaling more than thirteen billion dollars in total A- rated property capacity. Members are medium to large sized public and private energy companies with at least $1 billion in physical property assets and an investment grade rating or equivalent. Products offered include Property (Physical Damage), Windstorm, Non Gradual Pollution, Cyber, Control of Well, Terrorism, Construction and Cargo. The industry sectors that OIL protects include Offshore and Onshore Exploration & Production, Refining and Marketing, Petrochemicals, Mining, Pipelines, Electric Utilities and other related energy business sectors.

Source: Oil Insurance Limited (OIL)