BP begins gas production from third stage of $9bn WND development in Egypt

first_img An onshore gas processing facility associated with the Raven field, the third stage of the WND development. (Credit: bp p.l.c.) BP has commenced production of gas from Raven field, the third stage of its $9bn West Nile Delta development (WND development) in the Mediterranean Sea off the coast of Egypt.Under the WND development, the company has been developing five gas fields, which span the North Alexandria and West Mediterranean Deepwater concession blocks.BP, which has an operating stake of 82.75% in the offshore project, is partnered by Wintershall Dea (17.25%).Currently, the Raven field is producing nearly 600 million standard cubic feet of gas per day (mmscf/d). At its peak, the offshore field can potentially produce 900mmscf/d along with 30,000 barrels per day of condensate.BP chief executive Bernard Looney said: “Completing this major multi-stage development in the face of many challenges is testament to bp’s long-term commitment to Egypt and our excellent working relationships with partners and the Government.“West Nile Delta will make an important contribution to meeting Egypt’s growing energy needs, by providing a cost-competitive and resilient gas supply from the country’s own resources.”Production at Raven follows the start of gas production from the second stage of the WND project in early 2019 through the Giza and Fayoum fields.The first stage of the project, which involved the development of the Taurus and Libra fields, was commissioned in 2017.The onshore facilities for the WND development, which includes the new Raven facility, have a total gas processing capacity of nearly 1.4 billion standard cubic feet of gas per day (bcf/d).Overall, the WND development has 25 wells that produce gas which is transported to the onshore processing plants via three long-distance subsea tie-backs.BP North Africa regional president Karim Alaa said: “The safe start-up of Raven in an extremely difficult period would not have been possible without commitment and close co-operation from the team.“Working together with the Ministry of Petroleum and our partners we can now explore the potential use of the West Nile Delta facilities for developing future infill and nearby exploration opportunities.” The Raven field is currently producing nearly 600mmscf/d last_img read more

Lomond Capital acquires agency

first_imgLomond Capital has continued to expand with the acquisition of John Shepherd estate agents in Birmingham taking its portfolio in the city to in excess of £250 million.The Edinburgh-based firm will now merge John Shepherd estate agency with Birmingham-based Marwood Homes and John Shepherd Lettings, which are also owned by Lomond Capital.The company forecast that the enlarged business will now manage more than £250 million worth of properties for private landlords and sell in excess of £200 million worth of property annually.Stuart Pender (left), Chief Executive of Lomond Capital, said, “The merger of John Shepherd Estate Agents with our existing businesses allows us to create a full service proposition for our clients under the leading estate agents brand in the region.”Lomond Capital, which currently has businesses in Aberdeen, Birmingham, Edinburgh and Manchester, is now seeking to make further acquisitions across both lettings and estate agents in Birmingham as well as part parts of the UK. The company is currently in negotiations with estate agents and lettings businesses in Bristol, Brighton, Reading, Oxford and Cardiff.“This is the first in a number of larger acquisitions planned in the south of England,” Pender added. “Our aim is to build a full service of property management businesses in key UK markets that offer private and institutional investors a scale model with a range of offerings from lettings to maintenance, financial products and investment and block management.”The announcement of the John Shepherd acquisition coincides with the appointment of a new Chief Financial Officer and Partner. Hazel McIntyre (right) joins the Lomond group at the start of April having spent periods of her career with RBS, Green Highland Renewables and Giles Insurance.Pender added, “Hazel has significant experience in both seeing through acquisitions and managing growth in  a rapidly expanding group, with profit increasing in Giles Insurance from £8 million to £24 million during her five-year period as Mergers and Acquisitions Director.”merger Lomond Capital acquires John Sheperd Lomond Capital John Shepherd acquisition February 4, 2016The NegotiatorWhat’s your opinion? Cancel replyYou must be logged in to post a comment.Please note: This is a site for professional discussion. Comments will carry your full name and company.This site uses Akismet to reduce spam. Learn how your comment data is processed.Related articles 40% of tenants planning a move now that Covid has eased says Nationwide3rd May 2021 Letting agent fined £11,500 over unlicenced rent-to-rent HMO3rd May 2021 BREAKING: Evictions paperwork must now include ‘breathing space’ scheme details30th April 2021 Home » News » Agencies & People » Lomond Capital acquires agency previous nextAgencies & PeopleLomond Capital acquires agencyThe Edinburgh-based group has snapped up John Shepherd Estate Agents in Birmingham.The Negotiator4th February 20160818 Viewslast_img read more

NAEA rebuffs calls to halt election for Vice President

first_imgAn attempt to halt the voting process for the post of Vice President of the National Association of Estate Agents (NAEA) has been turned down by Chief Executive Mark Hayward in an email sent to SW-based agent Chris Wood yesterday.In it Mark confirms that he and the NAEA Propertymark board had been made aware of Chris’s request to halt the election process, and that they were also aware of the new processes in place to elect the Vice President, and other posts.The email also says Mark and the board were aware of Chris’s concerns about the process but were “completely satisfied that the process was correct and robust [and that] therefore the election will go forward in the normal manner.Final responseMark also said it would be the NAEA’s final response with Chris prior to the AGM on June 16.On Wednesday Chris had previously written to Mark asking him to confirm whether due processes was adhered to and suggesting that the NAEA appeared to “be playing for time” and wanted to “obfuscate due process”.Chris Wood was one of several agents proposed for the Vice President role but, following a panel interview, not proposed as a candidate to be considered by the membership via a vote.UnconstitutionalHe told The Negotiator that he believed the current election process to be “unconstitutional and will be vigorously challenged”.Voting opened on 29th May and is due to close on 14th June for the post, which is to be vacated by current VP Mark Bentley.Chris Wood led a charge two weeks ago to question plans put forward by NAEA executive chairman Mark Hamer in a special resolution to be voted on at the next AGM. These include a smaller board and the exclusion of NAEA and ARLA presidents from board meetings from next year onwards.National Association of Estate Agents Mark Hayward NAEA propertymark chris Wood June 2, 2017Nigel LewisWhat’s your opinion? Cancel replyYou must be logged in to post a comment.Please note: This is a site for professional discussion. Comments will carry your full name and company.This site uses Akismet to reduce spam. Learn how your comment data is processed.Related articles BREAKING: Evictions paperwork must now include ‘breathing space’ scheme details30th April 2021 City dwellers most satisfied with where they live30th April 2021 Hong Kong remains most expensive city to rent with London in 4th place30th April 2021 Home » News » Associations & Bodies » NAEA rebuffs calls to halt election for Vice President previous nextAssociations & BodiesNAEA rebuffs calls to halt election for Vice PresidentAttempt by Chris Wood and others fails after Mark Hayward says he and board are “completely satisfied” with process.Nigel Lewis2nd June 20170689 Viewslast_img read more

Thames-side development for young families

first_imgBallymore & Oxley has released its latest new homes at Royal Wharf, a riverside neighbourhood in London’s Royal Docks. The launch includes two, three and four bedroom duplex apartments, located in the mansion style Compass House building along with apartments in the popular Latitude Building which overlook the River Thames.The new homes include a duplex four bedroom show apartment, interior designed by Milc Style, in Endeavour House, one of the development’s completed buildings. This follows the completion of the first of Royal Wharf’s residential units last year and the arrival of the development’s first residents; completed homes include suites, one, two and three bedroom apartments as well as three and four bedroom townhouses.All units now released for sale are due for completion this year, with some homes ready for occupation by the end of the summer.The new homes are expected to appeal to young families looking for more space whilst still enjoying London life and proximity to the capital’s leisure and work opportunities, the release includes units up to 2,416sq ft in size and are predominately duplex units which work well for family life.London riverside development Riverside development in Royal Docks Royal Wharf development Thames-side development 2017-08-21The Negotiator Related articles Calls for ‘green belt’ to be explained to public29th April 2021 Young entrepreneur launches UK’s first ‘modern’ land buying and selling portal15th April 2021 Retail and pub re-openings sparked newbuild sales homes surge yesterday13th April 2021What’s your opinion? Cancel replyYou must be logged in to post a comment.Please note: This is a site for professional discussion. Comments will carry your full name and company.This site uses Akismet to reduce spam. Learn how your comment data is processed. Home » News » Land & New Homes » Thames-side development for young families Thames-side development for young families21st August 20170462 Viewslast_img read more

Countrywide’s next Open House set to be largest yet

first_imgHome » News » Agencies & People » Countrywide’s next Open House set to be largest yet previous nextAgencies & PeopleCountrywide’s next Open House set to be largest yetUK’s biggest agency group flexes its muscles once more to create UK’s largest ‘open house’ marketing event.Nigel Lewis12th September 201701,970 Views Countrywide has kicked off its latest national open house event which, despite recent branch closures and operational streamlining, is set to be the biggest yet.This will be the 15th time the company has run the event since launching it in 2010, the most recent one being in March earlier this year, and before that last September.“We can’t tell for sure how many vendors and tenants will sign up to include their properties within us until the last moment, but it’s shaping up to be big this year,” a spokesperson told The Negotiator.“The good thing about this event is that it takes places across a vast range of properties – owners of million pound mansions throw their doors open for our Open House as well as homes from the rest of the market.”During the most recent Autumn event 29,000 viewings took place at 6,000 properties available to buy or let over the weekend of 25th-26th September. This means on average nearly five people attended each open house.During the inaugural Open House, during December 2009, Countrywide’s brands booked 27,000 viewings across 11,000 properties.This Autumn’s Big Open House is taking place on the weekend of 30th September-1st October and, a company spokesperson said, the company was preparing for it be the biggest to date.Countrywide says the event requires vendors and landlords to register their properties to be included in the list of open houses taking part, which are listed on the company’s Propertywide website.Big Open HouseAll the company’s 50+ agent brands taken part in the event, although it is up to individual branches whether they participate. Also, vendors and landlords can choose whether their open house is supported with staff from the nearest participating branch.Claims made for the event in the past include that it helps sell properties faster than the national average of 66 days, that in some instances it prompts multiple offers for the same property.“It takes a national average of 11 days to receive a first offer on a property and the Open House Event is a great way to speed up the process by having potentially multiple viewings in a short period of time,” a Hamptons branch manager in Brighton recently told the local paper.“All of our estate agents, covering our brands across the UK, are on hand before, during and after the course of the weekend to arrange viewings and give our customers the best opportunity to sell and buy their dream home.” big open house event Countrywide September 12, 2017Nigel LewisWhat’s your opinion? Cancel replyYou must be logged in to post a comment.Please note: This is a site for professional discussion. Comments will carry your full name and company.This site uses Akismet to reduce spam. Learn how your comment data is processed.Related articles BREAKING: Evictions paperwork must now include ‘breathing space’ scheme details30th April 2021 City dwellers most satisfied with where they live30th April 2021 Hong Kong remains most expensive city to rent with London in 4th place30th April 2021last_img read more

‘Airbnb doesn’t care about illegal sub-letting’ claims leading agent

first_img A leading lettings agent has criticised Airbnb for its refusal to take action over illegal sub-letting after his staff discovered one of the apartments it manages was being offered on the short-lets platform.The comments are to be made by Kristjan Byfield, the founder of London firm Base Property, during a programme being broadcast tonight on the BBC at 7.30pm.The show will reveal how Base Property staff turned up early to a routine inspection to find the tenants checking in a family to the property.After looking on Airbnb, staff at Base Property discovered over 70 reviews for the apartment, the timings of which suggested the tenants had been sub-letting it out since the beginning of their 22-month AST.The tenants were contacted and told to either cease their sub-letting and move into the property or face an early termination bill of £4,295.They agreed to cancel all bookings and remove a key safe box, but neighbours reported continuing short-lets comings and goings and Base later discovered that it was being sub-let to a Russian family.“One thing I found extremely disappointing was Airbnb’s refusal to take any action whatsoever,” says Byfield.“When we contacted them and provided evidence that the “hosts” were not the legal owners of the property and were in breach of the landlord’s mortgage and buildings insurance terms, local licensing laws, and both short-term let and HMO licensing, their response was take it up with the tenants.”Base Property eventually called on the services of Paul Shamplina’s Landlord Action who, via a Section 8 notice, evicted the errant tenants.“Unfortunately, unauthorised use for short lets is a growing problem, as Westminster Planning Enforcement team will discuss on the show, and councils are struggling to cope with the volume of cases,” says Shamplina (left).Please note: Inside Out is a regional program. If you are outside of London, watch it on Freesat 950 or Sky 954.Base Property krystjan byfield airbnb October 28, 2019Nigel LewisWhat’s your opinion? Cancel replyYou must be logged in to post a comment.Please note: This is a site for professional discussion. Comments will carry your full name and company.This site uses Akismet to reduce spam. Learn how your comment data is processed.Related articles BREAKING: Evictions paperwork must now include ‘breathing space’ scheme details30th April 2021 City dwellers most satisfied with where they live30th April 2021 Hong Kong remains most expensive city to rent with London in 4th place30th April 2021 Home » News » Agencies & People » ‘Airbnb doesn’t care about illegal sub-letting’ claims leading agent previous nextAgencies & People‘Airbnb doesn’t care about illegal sub-letting’ claims leading agentBase Property boss Kristjan Byfield says he’s ‘extremely disappointed’ by response of Airbnb after he told the company about illegal subletting on its platform.Nigel Lewis28th October 201901,024 Viewslast_img read more

Can the property sales ‘surge’ be sustained when furlough ends, asks Bank of England

first_imgThe Bank of England says that although estate agents around the UK have told it that there is strong demand from buyers, the housing market faces several headwinds as the economy settles down to the ‘new normal’ after the furlough scheme.These include only a ‘modest increase’ in properties coming to the market and difficulties in carrying out on-site valuations holding back the mortgage market.It was also noted that rental markets in some city centres face a potential over-supply of properties as thousands of overseas students stay away from the UK until the crisis is over.But the bank’s representatives, who report to it on key areas of the UK economy every three months, says estate agents are worried whether the surge in demand can be sustained when Chancellor Rishi Sunak’s furlough scheme begins to wind down later this year.Contacts were concerned that a rise in unemployment could hamper a recovery in the market,” the report says.“Prices on the secondary market and for new build homes were reported to be broadly unchanged compared with before the pandemic.”The Bank of England also reports that the availability of relatively high loan-to-value mortgages has helped keep the market going following the re-opening of the market in mid-May, although the supply of mortgage is still less than before the Covid pandemic started. Also that, “This had prevented some purchases from going through.”Echoing research issued by many agents in recent weeks, the bank’s agents noted an increase in interest from buyers looking to move out of London, and in properties that are more suitable for home-working.Read the report in full.covid Rishi Sunak Bank of England June 19, 2020Nigel LewisWhat’s your opinion? Cancel replyYou must be logged in to post a comment.Please note: This is a site for professional discussion. Comments will carry your full name and company.This site uses Akismet to reduce spam. Learn how your comment data is processed.Related articles BREAKING: Evictions paperwork must now include ‘breathing space’ scheme details30th April 2021 City dwellers most satisfied with where they live30th April 2021 Hong Kong remains most expensive city to rent with London in 4th place30th April 2021 Home » News » Housing Market » Can the property sales ‘surge’ be sustained when furlough ends, asks Bank of England previous nextHousing MarketCan the property sales ‘surge’ be sustained when furlough ends, asks Bank of EnglandQuarterly report from the bank covering April, May and June says many agents are worried that current mini-boom may not continue.Nigel Lewis19th June 202002,013 Viewslast_img read more

USS Momsen Captain Relived of Duties

first_imgBack to overview,Home naval-today USS Momsen Captain Relived of Duties View post tag: Relived Authorities April 29, 2011 The commander of a guided-missile destroyer has been relieved of command while the Navy investigates allegations of misconduct…(seattlepi)[mappress]Source: seattlepi, April 29, 2011; View post tag: USS View post tag: Naval View post tag: Captaincenter_img View post tag: Momsen Share this article View post tag: Navy View post tag: Duties USS Momsen Captain Relived of Duties View post tag: News by topiclast_img read more

Royal Australian Navy to Re-establish Naval Presence on Thursday Island

first_img View post tag: presence View post tag: Royal View post tag: Australian Royal Australian Navy to Re-establish Naval Presence on Thursday Island THE Royal Australian Navy should urgently re-establish a naval presence on Thursday Island off Cape York or risk a major border security bre…By Mark Dodd (theaustralian)[mappress]Source: theaustralian, June  27, 2011; Back to overview,Home naval-today Royal Australian Navy to Re-establish Naval Presence on Thursday Island View post tag: Re-establish June 27, 2011 View post tag: Thursday View post tag: News by topic Authorities View post tag: Navy View post tag: Naval View post tag: Island Share this articlelast_img read more

India to Receive INS Vikramaditya on December 4

first_imgBack to overview,Home naval-today India to Receive INS Vikramaditya on December 4 View post tag: Navy Industry news View post tag: India View post tag: Naval March 7, 2012 View post tag: INS View post tag: News by topic India to Receive INS Vikramaditya on December 4 View post tag: December View post tag: receive Share this article View post tag: 4 Aircraft carrier INS Vikramaditya (former Russian aircraft-carrying cruiser Admiral Gorshkov) will be delivered to Indian Navy on Dec 4, 2012, reports ITAR-TASS referring to a source in defense industry.“The carrier’s sea trials will start on May 29, and in accordance with the contract terms the ship will be handed over to India on December 4”, said the source.As was reported earlier, sea trials of the carrier will take place in the Barents Sea within two or three weeks. Then will come 3.5-month air wing tests.[mappress]Naval Today Staff , March 07, 2012; Image: funfix View post tag: Vikramadityalast_img read more