Karoon secures $275m loan facility to complete acquisition of Baúna oil field

first_imgThe syndicated facility agreement is expected to offer an option to provide additional funding for the tie-in development of the Patola oil discovery Image: The Baúna field contains two producing oil reservoirs, Baúna and Piracaba. Photo: Courtesy of David Mark from Pixabay. Australian independent oil and gas firm Karoon Energy, through its wholly-owned subsidiary Karoon Petróleo e Gás Ltda (KPG), has signed a senior secured term loan facility of up to $275m, fully underwritten by ING Bank, Singapore Branch.Karoon said that it intends to use the facility as part of the funding package for the acquisition of a 100% operating interest in the Baúna oil field in the Santos Basin, offshore Brazil.The syndicated facility agreement is expected to offer an option to provide additional funding for the tie-in development of the Patola oil discovery, and the option is subject to final lender approval following Patola reserve certification, an approved updated bank model and project sanction.In addition, the company intends to complete the documentation and regulatory approvals prior to the completion of the Baúna acquisition, which is expected to be completed during the first quarter of the calendar year 2020.Baúna field acquisitionIn June 2019, Karoon executed a binding sale and purchase agreement to acquire a 100% operating interest in the Baúna field for a consideration of $665m.The Baúnafield contains two producing oil reservoirs, Baúna and Piracaba, where both tied back to the leased floating production,  storage and off-loading facility (FPSO) Cidade  de  Itajai, and the existing undeveloped Patola discovery.The field is currently producing light sweet crude at a rate of approximately 20Mbopd, and the acquisition would provide material operational and logistical synergies for the potential development of Karoon’s existing southern Santos Basin assets, Neon and Goiá.Karoon is an international oil and gas exploration company with projects in Australia, Brazil and Peru, and has a core exploration growth strategy, focused on large targets in proven Petroleum Systems.Karoon managing director Robert Hosking said: “The company has been working very hard over the past three years to acquire a high quality production asset with robust economic returns. Through the acquisition of the Baúna asset Karoon has delivered on its highest strategic priority.“Baúna will provide Karoon shareholders with  material oil production  (currently approximately 20Mbopd before development workovers) and  a platform for future growth. The  transaction  will  be transformational for Karoon shareholders, providing significant exposure to reserves, resources and high margin oil production”last_img read more

Sea Breeze 2014 to Focus on Maritime Interdiction Operations

first_img View post tag: 2014 View post tag: Naval View post tag: News by topic View post tag: Interdiction Sea Breeze 2014 to Focus on Maritime Interdiction Operations September 5, 2014 View post tag: Navy View post tag: europe Share this article Approximately 280 U.S. service members will participate in the event.The exercise is scheduled to take place, Sept., 8-10, with naval forces from participating countries working together in order to strengthen interoperability and improve maritime security.Leaders from Ukraine and the U.S., co-hosts for the 13th iteration of the exercise, shared sentiments about the progress of both the exercise and maritime security in the Black Sea that have occurred since the exercise’s inception.“Much of the exercise will focus on maritime interdiction operations as a primary means to enhance maritime security, said Capt.Greg Hicks, U.S. European Command Director of Communication and Engagement. “The other key components of the exercise focus on communications, search and rescue, force protection and navigation,” he said.This year’s participants include Ukraine, Georgia, Romania, Turkey, and the U.S., as well as three ships from Standing NATO Maritime Group TWO Task Unit 02 (SNMG2 TU.02), the Canadian Halifax-class frigate HMCS Toronto (FFH 333), Spanish frigate ESPS Almirante Juan De Borbon and Romanian frigate ROS Regele Ferdinand.[mappress]Press Release, September 05, 2014; Image: US Navycenter_img View post tag: Black Sea View post tag: Focus View post tag: Operations Training & Education Back to overview,Home naval-today Sea Breeze 2014 to Focus on Maritime Interdiction Operations Exercise Sea Breeze 2014 (SB14), a multinational maritime exercise in the Black Sea, is set to start Sept. 8, as representatives from five participating nations and Standing NATO Maritime Group TWO Task Unit 02 (SNMG2 TU.02) will gather at sea aboard the USS Ross (DDG 71) for the exercise’s opening ceremony. View post tag: SEA BREEZE View post tag: Maritimelast_img read more

Lecturer – Comparative Cultural Studies – (ADJ000250)

first_imgThe Department of Comparative Cultural Studies at the University ofHouston is seeking a part-time Lecturer in its Religious StudiesProgram. Candidates should be able to contribute to more than oneof the following areas of expertise or specialization:Teaching of a broad introductory course into ReligiousStudies.The study of the religions and cultures of the Indian Subcontinentwith a focus on transnational and Indian diasporic identities. Theideal candidate’s work and publications might focus on historicaland literary aspects and create awareness of the variety ofidentities of the Indian Subcontinent in local and globalframeworks.The study of the spiritualties, history, and cultures of theIndigenous Peoples of North America, with a preference of SouthernIndigenous Peoples. The ideal candidate’s work and publicationsmight focus on historical and literary aspects of the diverseexperience of Indigenous Peoples while demonstrating the continuedrelevance of their spirituality and wisdom.The study of the New Testament. The ideal candidate should be ableto teach a broad introduction to the early Christian literaturewith a focus on its relevance for the modern western culture.The study of feminism / womanism in the area of religion. The idealcandidate’s work and publications might focus on historical andliterary aspects and create awareness of the variety of feminist /womanist expressions.We encourage applicants to demonstrate how their teaching andresearch will strengthen the interdisciplinary objectives of ourDepartment of Comparative Cultural Studies. The department combinesdegree programs in Religious Studies, Anthropology, and LiberalStudies. The position will be in the Religious Studies Program withthe expectation that the candidate will also display interest inAnthropology and Liberal Studies.The University of Houston is an Equal Opportunity/AffirmativeAction institution. Minorities, women, veterans and persons withdisabilities are encouraged to apply.Qualifications :Masters degree in Religious Studies or related discipline required.Candidates with a Ph.D. preferred.Notes to Applicant: Please submit a list with the names ofthree references electronically as one single PDF file to: Dr.Christian A. Eberhart, Director, Religious Studies [email protected] Official transcripts are required for a facultyappointment and will be requested upon selection of the finalcandidate. All positions at the University of Houston are securitysensitive and will require a criminal history check.last_img read more

Side Lines

first_imgBannister, Chataway and Brasher; the four-minute-mile was something of a team achievement; without his pace makers the good doctor might never have breasted the tape in time. Had he been just a fraction slower a foreigner would have taken the plaudits that Bannister now laps up; there might have been no honours from a grateful Empire, and no celebration fifty years on at Oxford’s slightly less famous Iffley Road athletics track. Perhaps there would have been no subsequent British obsession with middle distance running – an obsession which spawned the great Cram, Coe and Ovett. Bannister, as he would certainly be the first to acknowledge, owes his pacemakers a great deal. In fact, so much individual success is actually the result of teamwork; the result of minions sacrificing themselves for the good of their superiors. Lance Armstrong, that modern day hero, is literally pulled up those steep Alpine climbs by his team mates most of whom will have to drop out because of the sheer exhaustion of breaking the still air in front of their leader; Paula Radcliffe’s amazing London marathon records have been aided by (male) pacemakers and Michael Schumacher’s victories have so often come at the expense of his team-mates. Of course these three are among the most talented sportsmen and women of this, or indeed any other, generation. It is this talent that assures them of their greatness. Even the greatest, though, have to rely on others from time to time. Individual records are hardly ever so simple a feat as we are afterwards led to believe by the historians eager to dramatise events and glorify names – if it wasn’t you crossing the line then you hardly count, it seems. At a time when everyone (us included) is quite rightly singing the praises of Bannister, Cherwell asks that everyone takes a minute or four to remember those without whom it quite literally wouldn’t have been possible – Chataway, Brasher and all your like: we salute you.ARCHIVE: 2nd week TT 2004last_img read more

Near record estimates for world wheat

first_imgThis year’s world wheat production could reach its second highest level on record, according to forecasts by the Food and Agriculture Organisation (FAO) of the UN.It predicted production would hit 690 million tonnes, 1.4% down on the record harvest last year, in its quarterly Crop Prospects and Food Situation report, published yesterday (8 March).The estimate is also well above the average seen over of the past five years.“Although plantings have increased or are forecast to increase in many countries this year in response to continuing strong prices, a return to normal yields is expected in areas where record highs were achieved last year,” said the report.The FAO also noted a firming of international cereal prices in recent weeks, due to “the tightening of current wheat supplies, and fears over the impact of severe cold weather in Europe and the Commonwealth of Independent States”.last_img read more

Starke County courthouse renovations delayed by coronavirus

first_imgIndianaLocalNews Starke County courthouse renovations delayed by coronavirus Twitter Google+ Twitter Facebook Pinterest Facebook Previous articleFederal judge delays filing deadline for Michigan candidatesNext articleImprisoned CEO says COVID-19 justifies release from prison Tommie Lee By Tommie Lee – April 21, 2020 0 213 WhatsApp Google+ Pinterest WhatsApp (File Photo/Federated Media) Renovations are on hold at the Starke County courthouse, thanks to COVID-19.Work planned for the third floor of the building was just entering the bidding process when Indiana’s stay-at-home order came down. The design is ready, plans for the work have been completed, and the money has been approved.Officials say the work will proceed after the restrictions have been lifted.last_img read more

Press release: Sandwell Valley Park remains open during construction works

first_imgMore information about the Perry Barr and Witton Flood Risk Management Scheme is available online. Alternatively contact the Environment Agency project team at [email protected] with flood defences and flood management schemes, knowing your flood risk is also important when protecting your family and property from flooding. People can check their risk and register to receive free flood warnings by visiting the Environment Agency’s flood information pages or calling Floodline on 0345 988 1188. This is a very exciting scheme that is going to reduce the risk of flooding for 1,400 properties in the area. We have been working closely with our partners and the local community to ensure that we minimise disruption to the park users and keep the community informed as we progress through the construction phase. Councillor David Hosell, cabinet member for highways and the environment, said: Access preparation for the construction of phase 2 of the Environment Agency’s Perry Barr and Witton Flood Risk Management Scheme started late January and will continue for the next couple of months. The main construction for the scheme will begin late spring/early summer and will reduce the risk of flooding to 1,400 properties in the area.Over the next few weeks park visitors will see tree felling operations and some movement of HGVs through the access routes by Forge Mill Farm and the railway bridge by the RSPB centre. Any HGV movement will be carried out within normal working hours Monday to Friday. Priority will be given to park users, to keep disruption to a minimum. Both Forge Mill Farm and the RSPB will remain open during construction, and a path between the 2 buildings will remain available throughout the construction of the scheme. Handsworth Golf Course will be modified to support the scheme, but it will remain open as usual.Recent Environment Agency drop-in sessions updated the public about progress of works, and received valuable feedback from local community members and representatives of user groups in the park. Another drop-in session is being planned in the near future. Staff will be on hand to answer questions and confirm information such as timescales, footpath closures and traffic management. Attendees will also be able to view the plans and get an overview of the programme as a whole.Rachel Kelly, Environment Agency project lead for the scheme said: Council officers have worked hard with the Environment Agency to ensure that the scheme has minimal effect on visitors to the Valley. We are delighted that part of the scheme and work in the Country Park will include new fencing for improved animal pens at Forge Mill Farm, extending it as a visitor attraction. There will also be improvements to the entrance into the park for pedestrians, cyclists and horse riders entering from the Old Newton Road.last_img read more

Street artist eL Seed paints at Harvard

first_imgThe Harvard Center for Middle Eastern Studies invited street artist eL Seed to create a painting on campus. The French-born Tunisian creates “calligraffiti,” a blend of traditional Arabic calligraphy with modern, urban graffiti. eL Seed spray paints around the world to promote freedom and equality.last_img

Tomorrow isn’t such a long time

first_imgWhatever the answers to preserving our world’s natural resources might be, it seems clear that they won’t come overnight. How, then, can scientists and governments ensure that the steps they take today won’t jeopardize the fate of future generations?The answer, Harvard researchers say, may lie in part in a cornerstone to modern society — democratic process.Martin Nowak, a Harvard professor of mathematics and biology and the director of the Program for Evolutionary Dynamics, and David Rand, an assistant professor of psychology and economics at Yale, worked with colleagues on a study in which allowing people to vote on the harvesting of resources led to the preservation of the resources for future generations. The study is described in a June 26 paper published in Nature.“There has been a great deal of work on how people cooperate with those they see every day — their colleagues or friends,” Nowak said. “But an open question is how people cooperate with future generations. How do you make altruistic decisions today that benefit people tomorrow?”Nowak and Rand joined with doctoral student Oliver Hauser and postdoctoral researcher Alexander Peysakhovich to adapt a commonly used “public good” game in which five online players are tasked with dividing up 100 units of a resource.Each player was allowed to collect up to 20 units of the resource. As long as all players together harvested no more than half of the 100 units, the resource was replenished for subsequent generations — other players who would be recruited later. If players harvested more than half, however, the resource was exhausted, and subsequent players earned nothing while being told that earlier generations hadn’t acted sustainably.Though the game was clearly designed to encourage players to preserve resources for subsequent generations, Nowak and Rand initially found a curious result — in nearly every game, players quickly exhausted the resource.“Typically, the way it played out was four players acted generously, while one person chose maximum defection,” Nowak said.Though the test revealed that many people might be willing to pay some cost to benefit future generations, it also highlighted a problem connected to what researchers call “conditional cooperation,” which suggests that people are willing to cooperate only if they believe others are doing the same. Often, Rand and Nowak said, players who chose to maximize their own benefit did so because they feared other players were taking a larger share of the resource.“In some sense, this illustrates why the free market fails to solve problems like climate change,” Nowak said. “Even if you want to cooperate with the future, you may not do so because you are afraid of being exploited by the present.”To address that problem, Nowak and Rand rewrote the rules of the game so that each player was allowed to vote on how much of the resource to extract, and each was given the median of all five votes.“Democracy is a powerful institution,” Nowak said. “When we implemented this system, virtually every resource was saved. The surprising observation is that while there is a minority of people who don’t want to cooperate, the majority of people vote altruistically. They are not voting to maximize their own benefit, and that’s what allows for cooperation with the future.”Importantly, Nowak and Rand said, for the voting system to work, the winning extraction amount had to be the median of all the votes cast.“Another way to implement a voting system would be to extract the average of all the votes, but the problem with that system is it forces people to vote strategically,” Rand said. “You may be willing to harvest the resource sustainably, but if you think someone else is going all in, you have to vote for zero to balance out the average. If instead you use the median of the votes, then players can just vote for what they really want.”The finding that people are willing to vote altruistically, Rand said, runs counter to the oft-cited notion that people will ultimately act in their own interests when they go to the ballot box.“A huge amount of public policy is built around the assumption that everyone is selfish. The question for policy-makers has always been how to set up an institution that encourages people to do good things even though they’re selfish.“The key take-home message of our paper is that policymakers can take advantage of the fact that many people are not actually selfish,” he continued. “A lot of people are altruistic, and you can have more efficient and more effective policies if you take this into account.”last_img read more

Summer Road Trips: For The Foodies

first_imgLocation: Eastern KentuckyDistance; 168 milesDriver: Ouita MichelChef and Owner, Ouita Michel Family of Restaurants; Nominee, James Beard Foundation AwardMidway, KY.“I don’t think people really know what Kentucky food is because it’s been so closely identified with Kentucky Fried Chicken. For me, Kentucky’s cuisine is related to history and it’s related to agriculture, and I want to make sure the longstanding iconic dishes of Kentucky don’t die out. I want dishes like spoonbread and grit soufflé to move forward into the cuisine spotlight but not in a way that would make them trite or tired. At the same time, the university here [in Lexington] brings a hugely diverse population and the subsequent cuisine is just as diverse, from Indian to Japanese. The one thing that remains constant is the widespread use of local ingredients. I think people will be surprised when they come here.”Lexington Skyline / Jeff RogersDay 1  |  24.5 miles | Lexington — VersaillesOver the past decade, Chef Ouita’s hometown of Lexington has masterfully woven the sundry threads of a community into a seamless patchwork of streets that each has a vibe unto its own.Begin on Jefferson Street with brunch at Stella’s Kentucky Deli, a quaint little neighborhood deli that’s based in a charming two-story yellow house. From here you can walk to just about anything you’d like—distilleries or breweries, clothing stores, and bourbon shops. Ouita recommends following the Brewgrass Trail to reach The Bread Box at the end of Jefferson Street. Once the site of a 100-year old bakery, this historic building is home to a number of different establishments, including one of Ouita’s own restaurants Smithtown Seafood, the urban farm and aquaponics non-profit FoodChain, the Broke Spoke Community Bike Shop, and West Sixth Brewing.If you’re in need of a mid-afternoon caffeine fix, wander over onto NOLI (short for North Limestone) and stop in at Wild Fig Books and Coffee, Lexington’s very own “writer-owned, black-owned, counter-gentrification bookstore.” Settle into this cozy brick building for a latté and a poetry reading before heading down the street for a healthy, vegan-friendly lunch at the Broomwagon. This one-stop-shop has a bike shop downstairs plus a coffee house, beer garden, and café on the second floor.Before leaving Lexington, honor your sweet tooth with some locally made ice cream from the Crank and Boom. Ouita’s go-to is a scoop of salted caramel ice cream with a shot of espresso, but you can get just about anything you want, including an ice cream cocktail (yes, you read that right). Try the Stout Dreams,  a scoop of coffee stout ice cream with Buffalo Trace bourbon cream, espresso, and brownie crumbs on top. Dinner tonight is at Ouita’s flagship store, the Holly Hill Inn, which is listed on the National Register of Historic Places. Surrounded by verdant Kentucky horse pastures in Midway, Ky., the inn-turned-restaurant has roots back to the 1800s. Taste any number of the 50 bourbons offered at the Holly Hill bar before letting the spirits guide you along the Kentucky Bourbon Trail to your accommodations at the Woodford Inn in Versailles. Rooms here run about $169 per night and are just down the road from Woodford Reserve Distillery.Smithtown Seafood’s Buffalo Catfish / Jenn JacksonDay 2  |  74.5 miles | Versailles — BereaAfter a hearty breakfast at Woodford Inn, head south toward Berea. About halfway to your final destination, you’ll pass through Shakertown, named for Shaker Village of Pleasant Hill. This 3,000-acre farm and community is one of the largest National Historic Landmarks in Kentucky and the country’s largest collection of privately owned 19th century buildings. You can tour those pristinely kept buildings, ride a horse (you are in the home of the Kentucky Derby, after all), and gorge on fresh-from-the-garden food at The Trustees’ Table before hopping back in the car for another hour.The town of Berea is revered for its artistic influence. Many weavers, instrument makers, potters, and other artisans make their homes in this wonderfully eclectic college town. Berea College itself is historically significant in that it was the first interracial and coeducational college in the South. You can check out all of the town’s artistic mastery at the Berea Craft Festival, which will take place later this month July 13-15. If you need to stretch your legs, the John B. Stephenson Memorial Forest and Berea City Trails are both great close-to-town options for hiking.At day’s end, pop open a cool Kentucky-made Ale-8-One and dig into an authentic Asian noodle bowl from Noodle Nirvana. The Pinnacle View Inn is right in town and offers rooms with a view starting at $109 per night.Miguel’s PizzaDay 3  |  68.7 miles | Berea — StantonGrab a hand-rolled bagel from Native Bagel Co., before setting off on your final day. You’ll quickly leave the noise of civilization behind as you drive further east into the Daniel Boone National Forest. The Red River Gorge is one of the best climbing destinations in the world, so if you’re a climber, the Red’s hundreds of miles of sandstone cliff lines hold enough routes to keep your forearms pumped for a lifetime. Not a climber? You can still get a sense of the Red’s uniqueness by hiking beneath soaring natural rock arches.Your last culinary pitstop of this road trip is none other than the climber classic, Miguel’s Pizza. This made-to-order pizza is about as casual as it gets, with a first-come, first-serve campground out back and a gear shop located inside. But don’t let the down-to-earth vibes fool you. Even if there’s an hour-long wait, the pizza’s worth it.last_img read more