Asset report

Shah Gas Development

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Report summary

Shah is an onshore oil and gas field located about 200 kilometres south of Abu Dhabi city. Appraisal of the sour gas in the Jurassic reservoirs started in the late 1990s. In 2006 Abu Dhabi's national oil company ADNOC invited companies to bid for the Shah Gas Development. ConocoPhillips was initially selected in 2008 but the company withdrew in 2010. In January 2011 Occidental announced its participation in the project and the joint venture agreement with ADNOC was ratified in March 2011. The gas is highly acidic. It contains 23% 30% hydrogen sulphide as well as high levels of carbon dioxide. Sulphur is granulated at Shah and transported by rail to a terminal at Ruwais on Abu Dhabi's Gulf coast. We assume a low sales gas price of between US$1.20 and US$1.50 per mcf. As a result project value is driven by associated liquids (condensate and LPGs) and is sensitive to liquids prices and production.

What's included

This report contains

  • Document

    Shah Gas Development

    PDF 510.34 KB

  • Document

    Shah Gas Development

    XLS 610.00 KB

  • Document

    Shah Gas Development

    ZIP 1.03 MB

Table of contents

  • Key facts
  • Summary and key issues
  • Location maps
  • Participation
  • Geology
  • Well data
  • Exploration
  • Reserves and resources
  • Production
  • Development
  • Infrastructure
  • Costs
  • Sales contracts
  • Fiscal and regulatory
  • Economic assumptions
  • Economic analysis

Tables and charts

This report includes 23 images and tables including:

Images

  • Index Map
  • Detail Map
  • Production Profile
  • Split of Revenues
  • Cumulative Net Cash Flow - Undiscounted
  • Cumulative Net Cash Flow - Discounted at 10% from 01/01/2018
  • Remaining Revenue Distribution (Discounted at 10% from 01/01/2018)
  • Remaining PV Price Sensitivities

Tables

  • Key facts: Table 1
  • Participation: Table 1
  • Well data: Table 1
  • Reserves and resources: Table 1
  • Production: Table 1
  • Production: Table 2
  • Sales contracts: Table 1
  • Cash flow
  • Economic analysis: Table 2
  • Economic analysis: Table 3
  • Geology: Table 1
  • Infrastructure: Table 1
  • Costs: Table 1
  • Costs: Table 2
  • Costs: Table 3

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