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Economics Manager | Lead Economist
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From exploration to distribution, BG Group is one of the leading forces in natural gas – one of the fastest growing sources of energy. While our operations span the globe, it’s the individual contribution of our people that continues to make us a world leader in natural gas.
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Wood Mackenzie has been a respected adviser to the energy industry for over 30 years. We combine experience with industry knowledge to provide clients with valuable analysis and unique insights. With its headquarters in Edinburgh, Wood Mackenzie also has offices in London, Houston, Boston, New York, Moscow, Beijing, Singapore, Kuala Lumpur and Sydney and currently employs around 550 people.
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The Flow Assurance Consultant reports directly to the regional Consulting Manager, with a functional reporting line to the project manager on the specific project. The Flow Assurance Consultant will be responsible for leading and managing multiple project teams providing consultancy services and products in the flow assurance domain. -
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Delays hit RXT start-ups
By Upstream staff
Reservoir Exploration Technology (RXT) said today it has been hit by start-up delays at its Nigerian and Caspian operations.
RXT2 started production in Nigeria in early June, against start-up target of 20 May.
So far, production rates have been lower than originally projected, mainly due to to the need to allow the crew to adjust to a new operating mode in a new operating environment.
Operational efficiency is now improving daily and is expected to meet or surpass the projected levels early on in the third quarter.
RXT3 started production in Kazakhstan in the end of June, about one month later than planned.
RXT said this was due to late equipment deliveries, combined with delays associated with permits, vessel importation and customs clearance.
Operational efficiency has been very good since production started.
As a consequence of the delays, RXT's earnings before interest, taxes, depreciation and amortisation (EBITDA) for the second quarter of the year is expected to be $1 million.
The delays for RXT2 and RXT3 will also have an impact on the EBITDA for the full year. However, as the crew adjust to the area specific operational challenges
The company said it expects some of the shortfall in the second quarter will be compensated in the third and fourth quarters.
All three operations are now on contracts that will generate the earlier targeted annualised EBITDA of between $17 million and $18 million.
Assuming no further delays in the programs, RXT said it is targeting that EBITDA for the full year to come in at between $30 million and $35 million.
Thursday, 12 July, 2007, 09:18 GMT | last updated: Thursday, 12 July, 2007, 09:18 GMT
