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STAVANGER, Norway -- Statoil and Shell have been awarded the Timissit Permit license in the Illizi-Ghadames basin onshore Algeria. The license is located in southeastern Algeria and covers an area of 2,730 sq km. Statoil bid in partnership with Shell, where Statoil will be the operator with 30% equity, Shell will hold 19% equity and the remaining 51% will be held by Sonatrach.
THE HAGUE, Netherlands -- The Joint Shipping Initiative -- made up of Shell, BP, Maersk, Stena and Japanese shipping companies NYK, MOL and “K” Line -- has given $1.5 million of additional funds to a United Nations Development Program (UNDP) project to improve the lives of Somalis and security for seafarers. The UNDP’s “Alternative Livelihoods to Piracy in Puntland and Central Regions of Somalia” project aims to reduce piracy off the coast of east Africa through local economic development, job creation, training, and business development grants onshore in one of the world’s poorest countries.
Medco Tunisia Petroleum, has entered into an agreement, effective 1 January 2014, to acquire 100% of the shares of Storm Ventures International from Storm Ventures International “Seller” for a base purchase price of $ 114.03 million, excluding an amount payable forworking capital (which is subject to a customary post-closing adjustment). The Seller is a subsidiary of Chinook Energy, which is listed on the Toronto Stock Exchange. SVI (together with its subsidiaries) is one of the leading active exploration and production companies in Tunisia, with a participating interest in eight working areas.
SVI’s interest in Tunisia comprises four exploration areas, two development areas and two production areas with concession periods of either 30 or 50 years. Out of these eight areas, five are located onshore and three are offshore. All of SVI’s blocks are located in prolific hydrocarbon areas. Five onshore blocks (Adam, Sud Remada,Bir Ben Tartar, Jenein and Borj El Khadra) are located in the Ghadames Basin, while the remaining three offshore blocks (Cosmos, Hammamet and Yasmin) are located in the Pelagian Basin off the northeast coast of Tunisia.
The completion of this acquisition is conditional upon, amongst other things, approval from the Government of Tunisia and the consent of certain existing partners in the blocks. Upon completion of the acquisition, MedcoEnergi anticipates adding 2P reserves and oil-and-gas production (net working interest before royalties, taxes and Government take) by 12.3 MMboe and 2,800 Boepd, respectively.
Production is envisaged to increase to approximately 16,000 Boepd from in fill well drilling of the existing producing block (Bir Ben Tartar) and the development of the Cosmos and Yasmin blocks (scheduled for completion in 2018) is expected to add a further 12.6 MMboe of 2P reserves.
Providing useful resources, articles and writings on crude oil, other petroleum products, energy and gas. By Mega Billion Corporation BLCO seller, Nigeria, online.
Nebraska landowners opposed to the proposed $5.4 billion Keystone XL pipeline urged the state’s highest court to uphold a judge’s ruling invalidating the route mapped by Governor Dave Heineman and TransCanada Corp.
The property owners urged the state Supreme Court to uphold a February ruling effectively blocking the pipeline. Judge Stephanie Stacy in Lincoln declared TransCanada a common carrier like a railroad. As such, a 2012 law giving the governor control over the path violated a part of the state constitution vesting power in the Public Service Commission.
TransCanada “offers pipeline structures for transportation services, like taxis offer rides to passengers for a fee, and truckers offer cartage for dollars per mile,” the landowners said in a June 20 legal brief. “The currently-proposed pipeline is a structure that will transport crude oil for hire.”
TransCanada, based in Calgary, seeks to build a 1,179-mile (1,897-km) conduit capable of carrying 830,000 bopd from Hardisty, Alberta, to Steele City, Nebraska, where it would connect to an existing network.
Supporters say Keystone will create jobs and promote energy independence. Opponents say petroleum derived from Alberta’s oil sands will contribute to global warming.
The decision on whether to approve Keystone will fall to President Barack Obama, who may wait until the Nebraska court rules. The judges have yet to schedule arguments, and a decision may not come until after Congress’s midterm elections.
Energy East
TransCanada has said it will seek Canadian government permission to construct a different, longer, pipeline giving it a conduit to the Atlantic Ocean. That proposed 2,700-mile pipeline, called Energy East, would carry 1.1 MMbopd across six provinces to a refinery and export terminal at Saint John, New Brunswick.
Heineman, a Republican who’s leaving office on Dec. 31, and state Attorney General Jon Bruning, who sought to succeed him, argued in April that the three landowners who sued haven’t shown they’ve been injured by the plan and lack standing to sue.
Bruning last month lost the Republican Party’s gubernatorial primary to former Ameritrade Holding Corp. Vice Chairman Pete Ricketts.
David Domina, the landowners’ lawyer and a Democrat seeking a U.S. Senate seat, said his clients have been harmed.
“There is no competitor, different regulator or differently affected landowner to bring this suit,” he said in a phone interview. “The state belongs to the citizens, and they are its saving watchfulness.”
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The UK announced new license terms to spur the development of the resource that may supply the nation with half a century of natural gas from shale rock.
The measures will allow license holders to retain bigger areas and cut costs, Energy Minister Michael Fallon said today, June 24, at a conference. The 14th licensing will be launched “shortly,” he said.
“Unlike traditional oil and gas, shale gas is not concentrated in small high-value fields, but is likely to be dispersed across large areas with ‘sweet spots,’” he told a conference in London. “I am removing unnecessary barriers and introducing a new flexibility to licenses.”
At the same time, the changes will ensure everyone has access to information earlier by cutting the length of time explorers can keep data on drilling and flow rates confidential to six months from four years, he said.
Fallon’s Conservative Party is seeking to spur shale exploration to secure energy resources as North Sea reserves decline. The Bowland basin in northern England may contain as much as 1,300 Tcf of gas, the British Geological Survey has said. That will last almost 50 years based on an extraction rate of 10%, similar to U.S. fields, according to Bloomberg calculations.
Opponents fear that hydraulic fracturing, also known as fracing, causes earthquakes and water contamination as the process uses water, sand and chemicals at high pressure to blast the fuel out of rock.
The Labour opposition party said baseline monitoring should take place for a year before extraction to ensure well integrity and safety, Tom Greatrex, shadow energy minister, said at the same conference via videolink.
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ZEiTECS has announced the world’s first rigless installation and retrieval of the NAUTILUS ESP, a cable-deployed electric submersible pump system (ESP), in a customer well in West Texas.
The system was deployed on December 19, 2013, and ran for 139 days until planned shutdown on May 7; the system was retrieved successfully on May 9.
The ESP was retrieved using ZEiTECS’ Launch and Recovery System (LARS). LARS is a compact, rigless injector-based system that eliminates the need for a rig or heavy coiled tubing unit to replace failed ESPs.
The NAUTILUS ESP system was deployed on a high-strength DC coaxial cable and converts DC power to AC power downhole to drive any standard inverted ESP. The system was set at 2,600 ft. and retrieved in only 40 minutes using the LARS, at an average rate of 65 ft. per minute.
The rigless ESP operation was completed using a 400 series Baker Hughes inverted ESP deployed inside 5.5” tubing, producing 900 bbl of fluid per day. The NAUTILUS ESP system can be used as a permanent production system, as well as a temporary well intervention system for well testing and well clean-up purposes.
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Polarcus wins 3D seismic acquisition offshore West Africa HOUSTON, Texas Polarcus has signed a Letter of Intent (LOI) with an undisclosed client for a 3D marine seismic acquisition project offshore West Africa. The project, subject to the execution of a
A fire reported on June 28 at Statoil’s onshore Eisenbarth well pad in Monroe County, Ohio has been extinguished but follow-up work is continuing.
The fire was limited to surface equipment; none of the wells have been on fire. A Statoil well inspection team on site reported yesterday, June 29, that all wells are secure and are shut-in.
All personnel working on the site were evacuated and remain safe. In addition, as a precautionary measure, residents living nearby were evacuated temporarily. There have been no reports of serious injuries to date associated with this incident.
Statoil continues to work with local, state and federal authorities to manage this incident.
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New York’s cities and towns can block hydraulic fracturing within their borders, the state’s highest court ruled, dealing a blow to an industry awaiting Governor Andrew Cuomo’s decision on whether to uphold a six-year-old statewide moratorium.
The state Court of Appeals in Albany today, June 30, ruled 5-2 to uphold the dismissal of lawsuits challenging bans in the upstate towns of Dryden and Middlefield.
The towns engaged in a “reasonable exercise” of their zoning authority when they banned oil and gas extraction and production, the court said in an opinion by Judge Victoria Graffeo.
“The towns both studied the issue and acted within their home-rule powers in determining that gas drilling would permanently alter and adversely affect the deliberately cultivated small-town character of their communities,” Graffeo wrote.
The ruling may lead the oil and gas industry to abandon fracing in New York as Cuomo considers whether to lift a statewide moratorium instituted in 2008 that he inherited when he took office. It might create a patchwork across the state of municipalities that do and don’t permit the process.
“These appeals are not just about whether hydrofracking is beneficial or detrimental to the economy, environment or energy needs of New York, and we pass no judgment on its merits,” Graffeo wrote. “These are major policy questions for the coordinate branches of government to resolve.”
Enlarging Cracks
Fracing, used in states from North Dakota to Pennsylvania, has helped push U.S. natural gas production to new highs in each of the past seven years, according to the U.S. Energy Information Administration. It has come under increasing scrutiny from environmental advocates.
Parts of New York sit above the Marcellus shale, a rock formation that the Energy Information Administration estimates may hold enough natural gas to meet U.S. consumption for almost six years.
The state barred fracing in 2008 while studying the environmental effects of the drilling method, which is allowed in more than 30 states.
N.Y. Bans
Since then, more than 75 New York towns have banned fracing while more than 40 have passed resolutions stating they support it or are open to it, according to Karen Edelstein, an Ithaca consultant affiliated with FracTracker Alliance, which analyzes the effects of oil and gas drilling.
Other jurisdictions are adopting similar laws. Beverly Hills in May became the first municipality in California to prohibit fracing. The industry also has sued the Colorado cities of Fort Collins, Lafayette and Longmont over bans.
Scott Kurkoski, attorney for a dairy farm in Middlefield that sued the township to overturn a ban passed in August 2011, argued to the Court of Appeals on June 3 that the state’s Oil, Gas and Solution Mining Law prevents local governments from enacting zoning ordinances that ban fracing. The dairy farm signed leases in 2007 to explore and develop natural-gas resources under the property.
Anschutz Lawsuit
In September 2011, Anschutz Exploration Corp., an affiliate of billionaire Philip Anschutz’s closely held company, sued Dryden over its ban after buying about 22,000 acres of gas leases there. Norse Energy, a Lysaker, Norway-based explorer whose U.S. unit filed for bankruptcy in December 2012, replaced Anschutz Exploration in the Dryden appeal.
Separate state judges dismissed the lawsuits challenging the bans in February 2012. Those rulings were affirmed by an intermediate appellate court in Albany in May 2013. A judge in Livingston County in April dismissed another lawsuit seeking to overturn a ban in Avon, a town of about 7,000 people south of Rochester.
While state law prohibits municipalities from passing laws or ordinances related to oil, gas and mining regulations, the zoning restrictions enacted in Dryden and Middletown don’t qualify as attempts to regulate the industry and aren’t preempted, the appellate court said in the May 2013 ruling.
Attorneys for the towns have contended they have the right to enact zoning laws as long as they don’t impede state regulations.
Municipalities’ Rights
Deborah Goldberg, an attorney for the nonprofit group EarthJustice representing Dryden, told the Court of Appeals on June 3 that the state legislature can take away municipalities’ rights to specific zoning laws, yet usually leaves protections in place when it does so.
Thomas West, an attorney for Norse Energy, said the industry may decide to turn its back on the state if local bans are allowed.
Cuomo, a 56-year-old Democrat, is trying to balance the prospect of the type of economic development seen in Ohio and Pennsylvania against claims by environmental groups that drilling will contaminate drinking water.
Cuomo took office in 2011. The following year he put Health Commissioner Nirav Shah in charge of studying how drilling may affect residents’ well-being. The governor had said he would base his determination on Shah’s conclusions.
Shah resigned in May to take a job with the Kaiser Foundation Health Plan in southern California, leaving the review to acting Health Commissioner Howard Zucker.
Joe Martens, head of the state’s Environmental Conservation Department, told state lawmakers in January that he won’t issue fracing regulations until at least April 2015, signaling that Cuomo probably won’t make a decision before he faces re-election in November.
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Petroceltic wins new exploration licence in Egypt DUBLIN, Ireland Petroceltic International (Petroceltic), has reported a JV comprising Petroceltic and Edison International (Edison) was the successful bidder for the North Port Fouad block, in the Egyptian Natural Gas Holding Company 2013
Capstone Turbine increases presence in African market with offshore order CHATSWORTH, California Capstone Turbine Corporation has received an order for two C1000 microturbines for an offshore oil and gas platform in Africa. According to the International Energy Agency (IEA), Africa
VIENNA, Austria (Bloomberg) -- A reduction in OPEC crude output deepened as Libya’s biggest producing oilfield stopped pumping amid supply cuts from Saudi Arabia and potential disruptions to Nigerian exports. Libya halted the Sharara oilfield as a precaution after a rocket attack on the connected Zawiya refinery three days ago, closing down about 30% of national output. In Africa’s largest oil producer, state-owned Nigerian National Petroleum Corp. was in talks Sept. 17 to prevent a strike that threatened to disrupt exports. Saudi Arabia told the Organization of Petroleum Exporting Countries that in August it made the deepest production cut in 18 months.
Kenya sees oil resources almost doubling with more drilling DAVID MALINGHA DOYA NAIROBI, Kenya (Bloomberg) Kenya expects its estimate of oil resources to almost double to 1 Bbbl as well drilling climbs and the government forges ahead with plans to
The U.S. government wants to sell a naval petroleum reserve field first set aside by presidential decree 99 years ago to ensure fuel supplies for American warships.
The Energy Department is seeking bids for the Teapot Dome field north of Casper, Wyoming, by Sept. 30, according to an offering document published on the website of Meagher Energy Advisors Inc. today, June 23. The field, which includes several layers of shale and oil wells more than 1 mile (1.6 km) deep, currently produces about 240 bbl of crude a day.
The Teapot Dome field was designated a naval reserve in 1915. The 9,481-acre parcel is the last such reserve still under control of the Energy Department, according to the offering document.
The field has several untapped layers of oil- and gas-soaked rocks that may be suitable for enhanced recovery techniques such as carbon-dioxide flooding, according to the offering. A data room with technical details about the geology of the field is scheduled to open on July 30.
The U.S. began divesting naval petroleum reserves in 1998, when it sold the Elk Hills field near Bakersfield, California, to Occidental Petroleum Corp. for $3.65 billion.
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MILAN -- Eni has made a new oil discovery in Block 15/06, in the Ochigufu exploration prospect, in deep water offshore Angola. Oghigufu is the tenth commercial oil discovery made in Block 15/06. The discovery is estimated to contain 300 MMbbl of oil in place. The Ochigufu 1 NFW well, which has led to the discovery, will be brought into production in record time. The well is located approximately 150 km off the coast and 9.8 km from the Ngoma FPSO (West Hub).
South Sudan gets $250 million from Qatar Bank as oil output cut MADING NGOR JUBA, South Sudan (Bloomberg) South Sudan is using a $250 million Qatar National Bank credit line to fund food and fuel purchases after civil war cut
Swala Energy awarded block 44 in the Republic of Zambia PERTH, Australia Swala Energy (Zambia) Limited, has been formally awarded hydrocarbon exploration rights over block 44 in the Republic of Zambia. Pursuant to the Company’s announcement on 12th May 2014
LAGOS, Nigeria (Bloomberg) -- Workers at Nigerian National Petroleum Corp., the country’s state-owned oil company, began an indefinite strike that may disrupt crude output from Africa’s top producer and affect its domestic gasoline supplies, a union official said. “We have total shutdown at NNPC offices and all their subsidiaries, and that may affect the exports,” Babatunde Oke, a Lagos-based spokesman for both a managers’ union and a blue-collar workers’ union, said by phone Sept. 16. “The refinery workers are also not working.”
ABUJA, Nigeria (Bloomberg) -- Nigeria aims to almost triple its natural gas production capacity by 2020 to help meet the West African nation’s power and industrial development needs, Oil Minister Diezani Alison-Madueke said. Africa’s biggest oil producer wants to increase capacity to 11 Bcfd, from about 4 Bcfd now, Alison-Madueke said in an interview Sept. 15 in Abuja, the capital.
Ophir Energy makes new gas discovery at Silenus East LONDON Ophir Energy Plc has reported that the Silenus East 1 well in block R, Equatorial Guinea has resulted in a new gas discovery. The Silenus East 1 well was drilled
Circle Oil, reported the preliminary results of drilling of the well SAH-W1 in the Sebou Permit, onshore Morocco.
The well is located within the western central area of the Sebou Permit, about 3.2 km to the south west of the main gas gathering station. The well was spud on 19 May and drilled to a TD of 1,263 m MD. Gas shows were encountered at three levels within the target Guebbas sands, but seven inch casing had to be installed (due to mechanical problems) before drilling a six inch hole through the main target interval. The wireline logging confirmed the presence of three gas-bearing zones, and subsequent pressure testing in the six inch hole confirmed permeable high pressure reservoirs.
The rig has been released from this site before running the 4.5 inch liner as this is a non-standard size for drilling these wells and this is being sourced to test and complete the well for production in the future. The net pay from wireline log analysis is 6 m in the Top Guebbas, 6 m in the main target Intra Guebbas and 3 m in the lower part of the Intra Guebbas. The plan is to produce the three zones sequentially from the bottom up, where the highest pressure is present.
Further updates will be provided in due course.
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Wentworth signs long term gas sales agreement for Mnazi bay, Msimbati gas fields Tanzania PARIS, France Maurel & Prom has reported that along with Mnazi Bay license partners Wentworth and Tanzania Petroleum Development Corporation (TPDC), it has signed a gas
Japan’s Mitsubishi acquires stake in Cote d’Ivoire block TOKYO, Japan Mitsubishi Corporation (MC) has agreed to acquire a 20% ownership interest in Block CI 103 hydrocarbon production sharing contract from US based Anadarko Petroleum Corporation. Block CI 103, which is
Lamprell reports that it has received a new contract award from Petrofac Emirates (Petrofac) for the fabrication and delivery of 29 modules.
The modules are being constructed for use in connection with the Zakum Development Company’s (ZADCO, one of Abu Dhabi Oil Company (ADNOC) group of companies) landmark Upper Zakum, UZ750 (EPC-2) field development n Abu Dhabi. The estimated total weight for all of the modules will be approximately 10,000 t.
Lamprell is scheduled to deliver the first shipment of modules in second-quarter 2015, with the final pipe rack expected to be delivered in first-quarter 2016.
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JUBA, South Sudan (Bloomberg) -- South Sudan plans to split an oil block awarded to Star Petroleum SA, a Luxembourg-registered company, as part of a review of a concession criticized by the country’s lawmakers, Petroleum Minister Stephen Dhieu Dau said. Block E, which covers 45,000 sq km (17,375 sq miles), will be divided into two, Dau said in an interview on Sept. 9 in the capital, Juba.
DNO ASA, the Norwegian oil producer focused on northern Iraq, fell for a second day after Islamist insurgents seized several cities south of the Kurdistan region where it operates.
While no violence has been reported in the semi-autonomous region, the Oslo-based company fell as much as 5.7% and traded 0.5% lower at 22.19 kroner a share as of 2:01 p.m., extending losses to 6.4% over the last two days.
“When the unrest is at this level and terror groups are involved, the stock will never thrive,” analyst Teodor Sveen Nilsen of Swedbank First Securities said in a phone interview. “The unrest is 150 kilometers from DNO’s Tawke field and might as such not have a big impact, but investors have a lot of others stocks to choose from and will react negatively when faced with uncertainty.”
Militants
DNO, the first foreign oil company to drill in Iraq after the U.S.-led invasion in 2003, got almost 80% of its production from the Kurdish region of the country’s north in the first quarter. The area is situated north of Mosul, Iraq’s second-biggest city, which was seized by militants of the Islamic State in Iraq and the Levant this week.
The violence has raised the prospect of a resurgence of sectarian conflict in Iraq, the second-biggest producer of the Organization of Petroleum Exporting Countries, as Prime Minister Nouri al-Maliki’s Shiite-led government struggles to control Sunni-majority regions.
DNO spokesman Henrik Schwabe couldn’t immediately comment, he said in an email.
Swedbank downgraded DNO to neutral from buy on “increased political risk,” it said in a note yesterday, June 11. “It’s escalated more than I had thought,” Sveen Nilsen said today.
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CGG bags $80 mn seismic acquisition contracts for Asia Pacific, West Africa PARIS, France CGG has been awarded contracts for the 3D seismic acquisition of four major surveys using its BroadSeisTM with BroadSourceTM, marine broadband technology. The four surveys represent
Germany plans to adopt regulation that will rule out shale fracing for the foreseeable future.
The government wants to ban hydraulic fracturing in shale rocks and coal beds at depths less than 3 km (1.8 miles) and prohibit all types of fracing in water protection areas, Economy Minister Sigmar Gabriel and Environment Minister Barbara Hendricks said today, July 4. The government will start drafting legislation and seek to adopt it in the second half, Hendricks told reporters today in Berlin. The rules will be re-evaluated in 2021.
Fracing is unpopular in Germany even as Chancellor Angela Merkel’s government is keen to develop domestic energy sources as it closes nuclear plants by 2022. While companies including Exxon Mobil Corp. have drilled test wells into unconventional gas reservoirs in Germany to emulate the U.S. shale-gas boom, little headway has been made because of public opposition.
The new rules, if adopted, would be “the strictest that ever existed in this respect,” the ministers said in a joint letter to the Social Democrats. “Fracing for shale and coal bed gas for economic reasons won’t be possible in Germany for the foreseeable future.”
Fracing for tight gas, which has been done in Germany since the 1960s, will remain allowed under stricter conditions for frac fluids, the ministers said. Fracing will be allowed for scientific purposes if the fluids aren’t harmful to water supplies, it said.
Not Far Enough
The rules don’t go far enough and leave “loopholes” to allow fracing at a later stage, said Julia Verlinden, energy spokeswoman for the opposition Green Party.
“If you want to prevent fracing, you don’t need science projects,” she said today in an emailed statement. “The risk to harm our ground and drinking water supplies with fracing doesn’t justify the short-term drilling for comparably little gas.”
Europe is divided into different camps on fracing. It’s backed by nations including the UK, Poland and Spain and opposed in countries such as France and Germany.
The oil and gas industry says fracing should be at least tested to keep the door open to a technology that may redraw the energy map across Europe by reducing reliance on Russia. Germany has shale gas reserves for about 10 years of full supply and “maybe much more than that,” Kurt Bock, the CEO of the world’s biggest chemical maker BASF SE, said yesterday at a conference in Berlin.
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DNO granted 2 yr extension in Somaliland production sharing deal OSLO, Norway DNO ASA, reported that it has been granted a two year extension of the term of its production sharing agreement for Block SL18 in Somaliland. The first exploration
Gulf Drilling International(GDI), reported that it has been awarded two new contracts by Qatar Petroleum(QP) for the provision of drilling rig services. The new contracts will cover services to be performed by two new land rigs (GDI-7 and GDI-8) that GDI is in the process of acquiring from a rig builder based in the United States. Each contract will have a term of five years and the combined value of both contracts is 297 billion.
The two new land rigs (GDI-7 and GDI-8) are being custom designed according to QP’s specifications. GDI-8 will be GDI’s largest land rig, and at 3000HP, it will have the capability of drilling deeper wells and executing extended reach wells to a much greater distance. The new land rigs will also come with a number of ancillary assets that are required to support these operations including water well rigs, mobile cranes, trucks and trailers. The total investment is being financed from a local bank on competitive terms.
Construction of the two new land rigs will soon commence and the rigs are expected to be received, mobilized from the United States and placed into service during the second half of 2015. GDI’s onshore base camp, workshop, storage yards, warehouses and accommodation facilities are also being expanded to accommodate these new operations.
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ACCRA, Ghana (Bloomberg) -- Ghana will double crude production by 2017 as offshore deposits being developed by Tullow Oil Plc and Eni SpA start producing oil, Minister of Energy Emmanuel Armah-Kofi Buah said. Tullow’s TEN development will produce about 80,000 bpd by then, the minister said by phone Sept. 5. Eni’s Sankofa Gye-Nyame deposit will pump 50,000 bbl, he said. Production at Ghana’s Jubilee field will rise to 120,000 bbl from 110,000 today.
Gulf Keystone Petroleum Ltd., an oil producer in Iraq’s Kurdistan region, gained the most in almost a month after saying production from its key asset was proceeding as planned.
The company advanced as much as 6.3%, the most since May 15, to 85 pence in London trading and was at 82.75 pence at 11:41 a.m. local time.
Gulf Keystone expects production from Shaikan to rise to 40,000 bopd by the end of the year, Hamilton, Bermuda-based Gulf Keystone said in a statement. The shares had lost 14% this week through yesterday, June 12, amid concern violent unrest in Iraq could spread toward Kurdistan.
The company’s operations “are progressing in line with our previous guidance, whilst we remain alert to the current security situation in Iraq, which has recently escalated outside the Kurdistan region,” Todd Kozel, CEO, said in the statement.
Eight cargoes have so far been sold into the international market, it said.
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Global Petroleum extends exploration licence off Namibia BRISBANE, Australia Global Petroleum Limited presently reported that its wholly owned subsidiary, Jupiter Petroleum (Namibia) Limited (Jupiter), has agreed with the Namibian Ministry of Mines and Energy (MME) a 12 month extension of
Dolphin starts 3D seismic survey offshore Senegal OSLO, Norway Dolphin Geophysical reported that they have formally been awarded the acquisition and processing of a 7,000 sq.km. SHarp Broadband 3D survey offshore Senegal by Kosmos Energy. The Dolphin high capacity 3D
Statoil hit by dry wells off Angola, US Gulf of Mexico STAVANGER, Norway Statoil has completed the Martin well in US Gulf of Mexico and the Dilolo well in the Kwanza basin in Angola. US Gulf of Mexico Statoil reported
CAMAC Energy awards contracts for seismic surveys at Kenya blocks L1B, L16 HOUSTON, Texas CAMAC Energy Inc. reported that its wholly owned subsidiary, CAMAC Energy Kenya Limited, has awarded seismic contracts for the acquisition of 2D seismic surveys on Block
BENGHAZI (Bloomberg) -- The group that controls Libya’s largest oil port pledged to work with the government to keep crude flowing to international markets and defend oilfields against any advance by Islamist militias that seized Tripoli, the country’s capital.
HOUSTON -- Atwood Oceanics has announced the delivery of the Atwood Achiever from the Daewoo Shipbuilding & Marine Engineering Co., Ltd. (DSME) shipyard in South Korea. The Atwood Achiever has commenced the mobilization phase of its drilling services contract with Kosmos Energy and is expected to arrive in northwest Africa in early December to conduct a three-year exploration drilling program.
Beach Energy has executed a binding sale and purchase agreement (“SPA”) for the purchase of a 20% interest in the T/49P offshore exploration permit in the Otway Basin from 3D Oil.
In addition to this, Beach and 3D Oil have established a new joint venture by executing a joint operating agreement (“JOA”). Under the terms of the SPA, Beach will pay 3D Oil $3 million in cash with 3D Oil to remain as operator under the JOA. It is anticipated that the joint venture will commence a 755 sq km seismic acquisition program within the next twelve months, with timing subject to regulatory approvals. This work is the major commitment required to be undertaken in the initial exploration phase of the permit, with the Transaction subject to the usual government and regulatory approvals.
The T/49P permit, located approximately 20 km to the west of King Island, is 4,960 sq km in size with water depths of around 100 m. Adjacent to the permit are the Geographe and Thylacine gas fields, of which Thylacine is the largest field discovered in the Otway Basin to date.
The Transaction builds on Beach’s current position in the onshore Otway Basin, which services both South Australia and Victoria in terms of gas supply.
In relation to Beach’s onshore activity, the second well of a two well exploration program on the South Australian side of the onshore Otway Basin, Bungaloo-1, recently reached total depth. Initial observations from Bungaloo-1, and the first well in the program, Jolly-1, indicate good exploration potential for gas and liquids in both shallow conventional structural traps as well as deeper targets within these wells. Follow up analysis is being undertaken to confirm these initial observations, with a priority focus on the conventional potential within the permits operated by Beach.
Providing useful resources, articles and writings on crude oil, other petroleum products, energy and gas. By Mega Billion Corporation BLCO seller, Nigeria, online.
Bourbon faces Ebola damage in Nigeria amid loss in first half TARA PATEL PARIS, France (Bloomberg) Bourbon SA, which runs supply and crew ships for the offshore energy industry, swung to a first half loss and said its operations in
MOSCOW (Bloomberg) -- OAO Lukoil, Russia’s second-largest oil producer, has made a discovery at Ghana’s offshore Cape Three points project, according to a person with direct knowledge of the development.
Vaalco Energy provides update on offshore Gabon operations HOUSTON, Texas Vaalco Energy, Inc. provided an update on recent activities offshore Gabon. Production from the Etame Marin block has resumed after the successful completion of previously reported maintenance work on the
Fugro has completed the acquisition of the Geofor Group based in Libreville (Gabon), Douala (Cameroon), Pointe Noire (Republic of Congo) and São Tomé City (São Tomé) to strengthen its presence in the Central Africa region and the French speaking African countries. In addition to its longer established offices, Geofor has significant working experience in Niger, Chad and Equatorial Guinea.
Geofor is an onshore/nearshore geotechnical company, which delivers drilling services and has highly specialized engineers and geologists in the fields of geotechnical consulting, hydrology, and land survey.
The company was established in 1989 and has over 25 years of experience working in most countries in Africa. The client base includes major oil and gas companies and key mining clients. In addition, Geofor is active in infrastructure and water supply projects.
Providing useful resources, articles and writings on crude oil, other petroleum products, energy and gas. By Mega Billion Corporation BLCO seller, Nigeria, online.
BG Egypt enhances gas infrastructure to bring new wells on at West Delta Deep Marine concession CAIRO, Egypt BG Egypt is enhancing the country’s gas infrastructure with an upgraded well control system enabling it to bring new wells on in
