Oil & Gas Developments, Entrepreneurship and Business Opportunities… The Perspective of a Successful & Established Cypriot Service Provider in the Field Dr. Symeon Kassianides Chairman and CEO Hyperion Systems Engineering Group
Significant Economic Activity Post Discovery • A number of international firms establishing or exploring the establishment of operations and/or partnerships in Cyprus. • Accounting and Legal professions setting up local Oil and Gas practices (hiring, training, developing skills) • Public Sector related activity – Cyprus Hydrocarbons National Company (CHNC) and DEFA (CyGAS) – Expanded functions in the relevant industries – Infrastructure projects • Universities launching courses for BSc and MSc degrees relating to Petroleum, Oil and Gas. Intentions for establishment of Chemical Engineering Schools. • Private Sector: Logistics Construction o o Automation Transportation o o Laboratories Chemicals o o Storage Terminals o 2
Known Pipeline of Projects • Pipeline connecting the Gas Fields with the Vassiliko Gas Receipt Terminal (Pre ‐ FEED done by Technip for Noble Energy) LNG Energy Complex (Pre ‐ FEED done by Technip for Noble Energy) • – LNG Liquefaction Plant – LNG Storage – LNG Export Facilities (complete with Dock and Jetties) • On shore pipeline connecting the Vassiliko Gas Receipt Terminal with the 3 EAC Power Stations (Vassiliko, Moni, Dhekelia) – finished detailed design Government Fuels Storage Terminal for the Cyprus national reserves • (VOPAK selected as strategic partner) – on hold • VTTV Fuels Storage Terminal (Private Project – under construction) • PETROLINA Fuels Storage Terminal (Private Project ‐ under construction) • Relocation of remaining Fuels and LPG Storage Facilities from Larnaca area to Vassiliko • A number of private Power Plants using Natural Gas as feed 3
Vassiliko Energy Park ‐ area and current stakeholders Vassiliko Power Plant New Petrolina, fuels storage and New VTTI terminal, due for completion loading terminal. Phase 1 for beginning of 2014. The first phase will construction of 7 new fuel storage have 357,000 m 3 of storage (20 tanks) tanks (total oil capacity 52,500 m 3 ) for gasoline, gas oil, jet fuel and fuel oil. is due for completion in first half of With planned expansion to 858,000 m 3 , 2014. will likely also service the domestic market replacing former government AREA RESERVED FOR A NEW ENERGY COMPLEX plans to build its own terminal. COMPRISING OF AN LNG PLANT, LNG STORAGE AND EXPORT TERMINAL FACILITIES 4
Related Economic Activity • Technology Research and Development • Education and Training • Servicing • Catering • Supply and Maintenance of Industrial Equipment • Local manufacturing (made ‐ to ‐ order metal parts) • Platform maintenance • Engineering Services during construction (inspection & certification) • Cement Industry • Processing of drilling liquids, mud and residues • Local laboratory analysis 5
Longer Term Potential Projects • Potential for projects (using Nat Gas as feedstock): – Methanol Plant – Ethylene Plant – GTL (Gas to Liquid) plant – provided the gas reserves prove to be very large – Fertilizer plants for Urea and Ammonia • Potential for projects (using low cost energy from Nat Gas): – Steel and Aluminium Manufacturing – Other energy ‐ intensive manufacturing 6
This means that we need to evolve from knowing how to work with this .. … to also learn how to work with this 7
Can Cyprus meet the challenge and demands? Cyprus today is not prepared to properly service an oil & gas exploration, production and processing industry. The support infrastructure will need to be either developed locally or imported from abroad. However we have many of the key ingredients: Excellent Human Capital Competitive and growing Universities Friendly living and working environment International Business Culture Geostrategic Location International Character There is a need for new direction and pillar of economic development and it can be done. 8
Estimated needs in professionals (*HRDA Study Nov2012) And likeliness to utilise local (Cypriot) resources 140 EXPLORATION 2013 450 PRODUCTION/PIPE GAS TO SHORE 4000 PROCESSING PLANT / LNG 200 TRANSPORTATION / EXPORT 2020 9
But we must be realistic and recognise the rules of what is a global game • With the current mix of skills in our workforce, Cypriots cannot be absorbed to be resourced in oil & gas jobs from day one Most of the resources (especially during the initial exploration and • production phases of the new industry) will come from overseas. • As with other O&G regions (Scotland, Norway, ..) local Cypriot resources will enter the new industry in secondary roles and support jobs, and gradually as they acquire the skills will move on to undertake more important responsibilities. There needs to be a vision on education and a nation ‐ wide action to • facilitate and expedite as much as possible this re ‐ skilling of the existing Cypriot professional population as well as pave the way for future generations of relevant professionals. • The plan and roadmap must address the long term needs and the short term/medium term needs at the same time. 10
Case Study ‐ Hyperion Systems Engineering • Hyperion is a privately held medium sized, independent and globally operating, process systems engineering company providing solutions, consulting and advisory services to process manufacturers. • Group of companies with subsidiaries in the UK, Russia, Cyprus , Greece, Saudi Arabia, Bahrain, India, China, USA and Singapore. • Employs more than 180 highly qualified staff, many with postgraduate qualifications and considerable industrial experience. • Wide experience with numerous projects for large multinational companies in Upstream Oil & Gas, Refining, Petrochemicals and Chemicals, Cement, Steel & Aluminum. • Extensive network of strategic consultants that increase the ability to meet capacity, as well as, domain and specialized expertise constraints. • Partners and associates leading global technology companies. Certified ISO 9001:2008, TRACE compliant and accredited as an • Investor In People organisation. 11
Our Customers 12
Examples of Work in gas upstream and LNG Woodside Petroleum / PLUTO LNG A Dynamic Simulation Study Project for an LNG Plant in Australia. The LNG production was studied (main propane compressor, mixed refrigerant compressor and main cryogenic heat exchanger). Over 20 test runs were performed, including start ‐ up, trip and valve ‐ failures. The study identified a number of items to address in the plant design and the size of the anti ‐ surge and hot ‐ gas bypass valves. Peru LNG The LNG production was studied (main propane compressor, mixed refrigerant compressor and main cryogenic heat exchanger). Test runs focused on anti ‐ surge and hot ‐ gas bypass valve sizing. Saipem + Sonatrach / GNL-3Z Arzew LNG Dynamic Simulation Study of an LNG Plant in Algeria ‐ 6 compressor system study including the main propane compressor, mixed refrigerant compressor and main cryogenic heat exchanger. Over 50 test runs performed. The client acknowledged savings around 1% of CAPEX ($30–$60 million) at plant commissioning, taking into account the minimization of reworks and avoiding prolonged commissioning activities. 13 13
Examples of Work in gas upstream and LNG Snamprogetti + Saudi Aramco / Khursaniyah The study addressed a number of multi ‐ train and multi ‐ stage plant compressor systems, including propane refrigeration, sweet gas, recycle gas, sales gas. A very large number of test runs verified plant controllability and valve sizing issues under a wide range of conditions. Snamprogetti + Saudi Aramco / Khursaniyah This project is a dynamic simulation engineering study on the gas gathering compressors at three pressure levels (atmospheric, LP and HP). The study included a series of safety and operability studies to investigate the expected performance of the compressors under a wide range of conditions. The simulation included Hyperion ‐ developed models of the CCC compressor advanced controls, anti ‐ surge, load ‐ sharing, power limiting and master performance control. A number of test runs were performed, identifying a number of controllability and valve sizing issues. Fluor MidEast + GASCO / Habshan Gas Complex Expansion Project Hyperion verified the new compressor anti ‐ surge protection systems and the performance of the overall load ‐ sharing and control systems. The study investigated the performance of the new plant and the potential impact on the existing plant equipment. 60 scenarios were studied and a number of recommendations for control system optimization arose. 14
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