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Magnus Field_ United Kingdom_ Commercial Asset Valuation and Forecast to 2020

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Magnus Field_ United Kingdom_ Commercial Asset Valuation and Forecast to 2020 Powered By Docstoc
					Dallas, TX:ReportsandReports announce it will carryMagnus Field, United Kingdom,
Commercial Asset Valuation and Forecast to 2020 Market Research Report in its
Store.

  Browse                     complete                      Report                    on:
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mercial-asset-valuation-and-fore/
  The Magnus field is located at Nigg Bay of northern North Sea that is approximately
160km north east of the Shetland Islands in the UK. The field is at 61° 37' 30 N
latitude and 1° 19' 0 E longitude. Magnus is an offshore field which is at the water
depth of 186m with oil reserves discovered at the subsurface depth of 2,709m. The
field is operated by BP Exploration Operating Company Limited which is one of the
world’s largest energy companies and operates across six continents. Magnus
has been one of the high producing fields in UK since it started production of crude
oil and associated natural gas in August 1983.
  The field is owned by a venture that comprises four companies. BP Exploration
Operating Company Limited holds the highest stake of 85% in the field. The other
partners include Nippon Oil Exploration and Production UK Limited, ENI UK
Limited and Marubeni Oil and Gas (North Sea) Limited.
  Magnus is an oil field with small quantity of associated gas. The oil in the field has
an API gravity ranging between 38°- 40° API. The crude oil is light with low sulfur
(0.28%) and medium wax oil (4-6% by weight).
  The production at Magnus field started in August 1983. The field has produced
around 829 million barrels of crude oil and 681bcf (billion cubic feet) of natural gas
until 2009. The current production (2010) of the field is estimated to be approximately
8.87 million barrels of crude oil.
  The life of the field is expected to be around 36-38 years with complete
abandonment by 2020. The field is expected to generate $6.09 billion in revenues
(undiscounted) during its remaining life (starting January 1, 2010) and is expected to
yield an IRR of approximately 17.62%.
  Scope The report provides detailed information on oil and gas production,
infrastructure, reserves, geology, operator and equity partners and the latest fiscal
terms applicable to the asset and provides its fair value (Remaining Net Present Value)
based on remaining reserves, forecast production, capital and operational costs, fiscal
regime and commodity prices. The report also provides additional valuation
parameters like Internal Rate of Return (IRR), Profitability Index (PI), Pay Back
(discounted and undiscounted), Entitlement Production (EP) and Working Interest
(WI) to enhance your decision making process. This report provides detailed
sensitivity analysis of the remaining NPV with changes in the commodity prices,
discount rate, production and key fiscal terms. Detailed cash flows over the life of the
asset are included in the report. These cash flows cover a wide range of calculations
related to various payments to the government/licensing authority. Interactive Excel
models can be used to derive custom valuations, sensitivities and cash flows based on
the specific inputs by the user in the model. These custom inputs vary from
production data, cost information, price information and fiscal terms information.
Reasons to buy Make well informed investment decisions based on detailed
operational analysis and cash flow forecasts Estimate the fair value of your future
investment under different economic and fiscal conditions Value a prospective
investment target through a comprehensive analysis using focused forecasting and
valuation methodologies. Supporting interactive excel model will enhance your
decision making capability in a more rapid and time sensitive manner Evaluate how
the changes in the country’s fiscal policies impact the cash flows and the
present value of the asset Table of contents 2

 1.1 List of Tables 3
 1.2 List of Figures 3

 2 Magnus Field, United Kingdom, Introduction 4

 3 Magnus Field, United Kingdom, Geology and Formation 6

 4 Magnus Field, United Kingdom, Equity Partners 8

 5 Magnus Field, United Kingdom, Crude Oil and Natural Gas Reserves 9

 6 Magnus Field, United Kingdom, Key Fiscal Terms 10
 6.1 Contract Type 10
 6.2 Royalty 10
 6.3 Bonuses 10
 6.4 Rentals 10
 6.5 Fees 10
 6.6 Taxation 10
 6.7 Petroleum Revenue Tax (PRT) 10
 6.8 Deductions 10
 6.9 Capital Allowance 11
 6.10 Ring Fence 11

 7 Magnus Field, United Kingdom, Infrastructure 12
 7.1 Upstream Infrastructure 12
 7.1.1 Wells 12
 7.1.2 Magnus Platform 12
 7.1.3 Injections – Water 13
 7.1.4 Primary Separation Processing Units 13
 7.1.5 Gas Treatment Facilities 13
 7.2 Midstream Infrastructure 13
 7.2.1 Magnus — Oil and Gas Pipeline System 13

 8 Magnus Field, United Kingdom, Development Plan, Investment and Expenditure
15
 8.1 Phase One (1978-1995) 15
 8.2 Phase Two – Field Extension Project (1996 onwards) 15
 8.2.1 The SWIFT (Subsea Water Injection Facilities and Treatment) Project 15
 8.2.2 EOR (Enhanced Oil Recovery) Project 16

 9 Magnus Field, United Kingdom, Crude Oil and Natural Gas Production 17
 9.1 Magnus Field, United Kingdom, Crude Oil Production 17
 9.2 Magnus Field, United Kingdom, Associated Natural Gas Production 19

 10 Magnus Field, United Kingdom, Field Economics 21
 10.1 Magnus Field, Economic Assumptions 21
 10.1.1 Forecast Commodity Prices 21
 10.1.2 Inflation 21
 10.1.3 Discount Rate and Representation of Cash Flows 21
 10.1.4 Sensitivity 21
 10.1.5 Access to the Economic Model 21
 10.2 Magnus Field, Cash Flow Analysis 22
 10.3 Magnus Field, United Kingdom, Remaining PV Sensitivity Analysis 23
 10.3.1 Remaining NPV Sensitivity to Discount Rates 23
 10.3.2 Remaining NPV Sensitivity to Change in Commodity Prices and Production
24
 10.3.3 Remaining NPV Sensitivity to Income Tax and Production Rate 25

 11 Magnus Field, United Kingdom, Summary Cash Flows 26
 11.1 Magnus Field, United Kingdom, Front End Load Due To Fiscal Policy 27
 11.2 Magnus Field, United Kingdom, Tax Liability 29

 12 Appendix 31
 12.1 Methodology 31
 12.2 Coverage 31
 12.3 Secondary Research 31
 12.4 Primary Research 32
 12.5 E&P Forecasts 32
 12.6 Capital Costs 33
 12.7 Exploration and Appraisal (E&A) Costs 33
 12.8 Operating Costs 33
 12.9 Expert Panel Validation 33
 12.10 About GlobalData
 12.11 Contact Us
 12.12 Disclaimer

 1.1 List of Tables
 Table 1: Magnus Field, United Kingdom, Key Asset Data, 2010 4
 Table 2: Magnus Field, United Kingdom, Equipments 13
 Table 3: Magnus Field, United Kingdom, Indicative System Capacities 14
 Table 4: Magnus Field, United Kingdom, Project Development – Phase One
(1978-1995) 15
 Table 5: Magnus Field, United Kingdom, Historic and Forecast Production, Crude
Oil, Thousand Barrels, 1983-2020 18
 Table 6: Magnus Field, United Kingdom, Historic and Forecast Production,
Associated Natural Gas, Million Cubic Feet, 2007-2013 20
 Table 7: Magnus Field, Commodity Price Assumptions, 2007-2027 21
 Table 8: Magnus Field, United Kingdom, Project Analysis Metrics, 2010 22
 Table 9: Magnus Field, United Kingdom, Remaining PV Sensitivity Analysis Over
Discount Rate Vs. Commodity Price Change, in Million Dollars 23
 Table 10: Magnus Field, United Kingdom, Remaining PV Sensitivity Analysis over
Commodity Price Change Vs Production Rate, in Million Dollars 24
 Table 11: Magnus Field, United Kingdom, Remaining PV Sensitivity Analysis at
10% Discount Rate over Income Tax Change Vs Production Rate, in Million Dollars
25
 Table 12: Magnus Field, United Kingdom, Asset Summary Cash Flows, Thousand
USD, 1981-2020 26
 Table 13: Magnus Field, United Kingdom, Front End Load, Thousand USD,
1981-2020 28
 Table 14: Magnus Field, United Kingdom, Tax Liability Estimations, Thousands
USD, 2007-2027 29

 1.2 List of Figures

 Figure 1: Magnus Field, United Kingdom, Location Map 5
 Figure 2: Magnus Field, United Kingdom, Illustrative Diagram of Geology and
Formation 6
 Figure 3: Magnus Field, United Kingdom, Magnus Area Stratigraphy 7
 Figure 4: Magnus Field, United Kingdom, Current Equity Details, 2010 8
 Figure 5: Magnus Field, United Kingdom, Infrastructure Map 12
 Figure 6: Magnus Field, United Kingdom, Infrastructure – Pipeline Map 14
 Figure 7: Magnus Field, United Kingdom, EOR Project 16
 Figure 8: Magnus Field, United Kingdom, Historic Production and Forecast, Crude
Oil, 1983- 2020 17
 Figure 9: Magnus Field, United Kingdom, Historic Production and Forecast,
Associated Natural Gas, 1983- 2020 19
 Figure 10: Magnus Field, United Kingdom, Gross Revenue Versus Post Tax Cash
Flow Analysis, 1983-2020 22
 Figure 11: Magnus Field, United Kingdom, Remaining PV Sensitivity Analysis Over
Discount Rate Vs. Commodity Price Change, in Million Dollars 23
 Figure 12: Magnus Field, United Kingdom, Remaining PV Sensitivity Analysis over
Change in Production Vs. Commodity Price Change, in Million Dollars 24
 Figure 13: Magnus Field, United Kingdom, Remaining PV Sensitivity Analysis Over
Income Tax Change Vs. Production Rate, in Million Dollars 25
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