Blockline and Associate Ltd are sellers of light crude oil and other petroleum products. We also sell and lease out marine equipments, construction machinery and other equipments.
We sell Crude Oil, D2, AGO and other Petroleum product such as:
Nigeria Bonny Light Crude Oil (BLCO, FLCO and ALCO, etc): We sell mostly on FOB, CIF, TTO and TTT/STS Basis.
Automotive Gas Oil (AGO) and D2: We sell mostly on CIF and TTT/STS.
Bitumen: We sell on CIF and FOB Basis
Marine Equipments/Machines:
We sell and lease all kinds of marine equipments/machines.
Well sell and lease all kinds of vessel e.g. oil tanker, cargo vessel, crew vessel etc.
We sell and lease tug-boats of all kinds.
We sell and lease barges and sea going barges.
We sell and lease dredgers, swamp-buggy, cranes of all kinds, tug-boats of all kinds bulldozers, etc.
Crushing machine of all kinds and screening plant: We sell on CIF and FOB Basis.
Steel and Metal:
We sell steel pipes and tubes of all kinds
We sell metals of all kinds.
GENERAL CONTRACTORS:
We are also into real estate, transportation, communications and more.
LONDON (Bloomberg) -- Afren Plc, the UK explorer focused on Nigeria, has expanded its investigation into unauthorized payments and is reviewing about $433 million on its half-year balance sheet. The company appointed KPMG LLP “to undertake an independent review of the accounting for the three original transactions” between the explorer and partners in 2012 and 2013, which are being examined by law firm Willkie Farr & Gallagher (UK) LLP hired by Afren, it said Aug. 29 in a statement.
LONDON -- Chariot Oil & Gas has announced an update on its Namibian portfolio, its repositioning in the region and forward work program across these licenses. The company has been granted a new license for blocks 2312 and 2412A -- the Central blocks -- and for Southern block 2714A.
LONDON (Bloomberg) -- Hunting Plc, a UK oil services provider, will open servicing and repair centers in Mozambique and Tanzania as explorers expand off East African shores. “The main customers are all there and we want to provide them with their kit,” Peter Rose, CFO of the London-based company, said Aug. 28 in a phone interview.
LONDON -- Tullow Oil has announced the results from a series of exploration, appraisal and testing activities conducted in Blocks 10BB and 13T onshore Kenya. The Etom-1 exploration well in Block 13T is the most northerly well drilled to date in the South Lokichar basin, 6.5 km north of the previous Agete-1 discovery.
Cairn hits pay at FAN 1 exploration well off Senegal MELBOURNE, Australia Oil samples have been recovered in the FAN 1 exploration well being drilled offshore Senegal by FAR Ltd and its joint venture partners Cairn Energy PLC (Operator), ConocoPhillips
Tullow Oil updates on exploration and appraisal in Kenya LONDON Tullow Oil Plc (Tullow) reported the successful results from a series of exploration, appraisal and testing activities conducted in Blocks 10BB and 13T onshore Kenya. Etom 1 exploration well The
Ophir Energy moves back to exploration in Tanzania and Equatorial Guinea LONDON Ophir Energy Plc (Ophir) provides an update on its operations in Tanzania and Equatorial Guinea. Successful Mzia 3 flow test The Mzia 3 appraisal well in Block 1,
READING, United Kingdom -- The results from a recently completed second drill-stem test (DST) on the Mzia discovery in Block 1, offshore southern Tanzania, provided further support for a hub development to supply a potential onshore LNG project, BG Group says.
STAVANGER, Norway (Bloomberg) -- Wintershall AG, the oil and gas unit of German chemical group BASF SE, said a lack of infrastructure is the only thing holding it back from resuming onshore oil production at full capacity in Libya. “We’re ready to start production almost any day,” Martin Bachmann, Wintershall’s executive director for exploration and production, told reporters Aug. 27 in Stavanger, on Norway’s west coast. “What we lack is the export infrastructure. One day it’s the harbors which are occupied; when they’re open, the pipelines aren’t available.”
THE HAGUE, Netherlands (Bloomberg) -- Royal Dutch Shell Plc is advancing plans to sell four fields in Nigeria to meet a $15 billion asset-sales plan. The company “has signed sales and purchase agreements for some of the oil mining leases but not all that we are seeking to divest,” Shell Petroleum Development Co. of Nigeria Ltd. said Aug. 27 in an emailed statement. “The assets under consideration are OMLs 18, 24, 25, 29 and the Nembe Creek Trunk Line, but the process has not yet concluded.”
Bowleven provides update on Etinde farm out to Lukoil NewAge DOUALA, Cameroon Bowleven Plc, reported that all parties to the Lukoil NewAge Etinde farm out agreement stated on 24 June 2014 have agreed to an extension to the longstop date.
Circle Oil finds oil at EMD 1 Well Off Tunisia TUNIS, Tunisia Circle Oil Plc, stated the preliminary results of drilling of the well EMD 1 in the Mahdia Permit, offshore Tunisia. The El Mediouni 1 well (EMD 1) is
Pacific Drilling gets firm contract extension for Pacific Bora Drillship LUXEMBOURG Pacific Drilling SA reported that Star Deep Water Petroleum Limited, an affiliate of Chevron, has signed a firm contract extension for the Pacific Bora. As previously stated in our
RWE Dea starts gas production from the Central Treatment Plant in the Egyptian Nile Delta CAIRO, Egypt RWE Dea achieved first production from the Central Treatment Plant (CTP) of the Disouq Development Project in Egypt. Production commenced at an initial
ASKER, Norway -- TGS has announced the acquisition of a 3D multi-client survey offshore Sierra Leone. The survey, Sierra Leone Block 4A Extension, will add 1,000 sq km of new 3D data to the existing 6,268 sq km of 3D data library in Sierra Leone.
Geo Pacific bags West African seismic contract LIMASSOL, Cyprus SeaBird Exploration Plc (SeaBird) reported that it has been awarded a contract for a 3D seismic survey in Gulf of Guinea, West Africa for the vessel Geo Pacific. The survey will
Swala Energy begins seismic survey over Moshi basin in Tanzania' s Pangani permit MOUNT PLEASANT, Australia Swala Energy Limited (Swala) reported the start of its 2014 2D seismic data acquisition programme over the Moshi Basin located within the Pangani exploration licence
Eni begins production at DEKA project in Egypt SAN DONATO MILANESE, Italy Eni, through its affiliate Ieoc Production BV and in joint venture with BP Egypt, started production from the DEKA project (Denis Karawan) through the new subsea well Denise
Bumi Armada inks $3 bn FPSO contract with Eni for Angola' s East Hub field KUALA LUMPUR, Malaysia International offshore oilfield services provider, Bumi Armada Berhad (Bumi Armada), reported the signing of a contract between eni Angola SpA (eni Angola) and
Ebola cripples West Africa output as fearful workers stay home PAULINE BAX, SILAS GBANDIA and ELISE ZOKER SIERRA LEONE, Africa (Bloomberg) Sandi Sesay’s boss promised him three months of pay when he told the driver to stop coming to work.
ACCRA, Ghana (Bloomberg) -- Ghana, the nation seeking to increase its oil output fivefold in the next decade, expects an offshore development by Hess Corp. to join the nation’s project pipeline, according to the Petroleum Commission. Hess will drill a third appraisal well later this year on the Deepwater Tano/Cape Three Points block to establish commercial viability and reserves, Kwaku Boateng, director of special services at the commission, said in an interview.
2H secures Kaombo contract RIO DE JANEIRO, Brazil 2H Offshore, an Acteon company, has been appointed by Heerema Marine Contractors (HMC) to engineer hybrid risers for Total’s Kaombo Block 32 project. HMC, together with consortium partner Technip, were awarded the
Companies from Noble Energy Inc. to Whiting Petroleum Corp. are ramping up output in the Niobrara shale oil play near the Rocky Mountains that may help save U.S. West Coast refiners from dwindling supplies in their own region.
The formation spread across parts of Colorado, Kansas, Nebraska and Wyoming is estimated to hold as much as 2 billion bbl of oil, Energy Information Administration data show. Niobrara’s oil and lease condensate output will reach a record 304,434 bpd this month, the agency said.
The Rocky Mountains play may be a godsend for Western refiners because its crude closely matches the characteristics of oil from the region’s largest domestic supplier, Alaska’s North Slope, where output has declined every year since 2002. A slide in Alaska and California oil production has forced West Coast refiners to increasingly rely on foreign imports and oil shipped by rail from other states.
“We’ve had a number of shipments move by rail, but I don’t think any of it has gone to the West Coast yet,” Gary Willingham, Noble’s senior V.P. of U.S. onshore, said in Denver during a conference on Bakken and Niobrara crudes. “It’s certainly part of our plan to have that flexibility. We want it to go where the demand is and where the best price is.”
The posted price for oil from the Denver-Julesburg basin, where the Niobrara is located, rose $1 to $85.05/bbl Friday, according to the marketing division of Plains All American Pipeline LP. Alaska North Slope oil rose $1.20 to $107.39/bbl, data compiled at 4:16 p.m. New York time show.
Noble, the largest producer in the Niobrara, expects its output from the basin to surpass 100,000 boed this year and reach 250,000 by 2018, Willingham said at the 2014 DUG Bakken and Niobrara conference. Whiting has three rigs running in its Redtail prospect there and plans to add a fourth in August.
Oil from the Niobrara matches the medium crude Alaska North Slope so well that it may be “demanded by folks on the West Coast,” said Mark Smith, V.P. of development, supply and logistics for Tesoro Corp., the largest refiner in the West.
Niobrara crude “fills the bill” for the West Coast, Jim Volker, Whiting’s CEO, said at the conference. Oil from the formation will have to compete against other Western plays such as the Uinta basin of Utah to supply the region, he said.
Tesoro is developing a terminal at the Port of Vancouver, Washington, with Savage Services Corp. that would take oil off rail cars and load it onto marine vessels for delivery.
“That Niobrara stuff could easily take up space” at the terminal, Smith said.
Wyoming, home to the Guernsey oil-pipeline hub, issued permits last year allowing projects with collectively more than 459,000 bpd of crude trans-loading capacity. It has approved permits for two more sites this year with as much as 146,000 bpd in capacity.
Musket Corp. runs an oil-by-rail terminal in Windsor, Colorado, that began loading unit-trains at the beginning of this year. The White Cliffs pipeline that carries oil from the basin to Cushing, Oklahoma, is scheduled to double capacity to 150,000 bpd this year.
California, home to two-thirds of the West Coast’s refining capacity, received 55,025 bbl of oil by rail from Colorado in December, the most ever for that month, and took in a record 87,951 from the state in May 2013. Colorado oil production reached a record 206,000 bpd in October.
While companies including Noble and Whiting are accelerating drilling in the Niobrara, Continental Resources decided to allocate spending elsewhere this year, said John Kilgallon, the company’s V.P. of investor relations.
“There has been some success by some operators there, but we’re not one of them,” Kilgallon said by telephone March 28.
Providing useful resources, articles and writings on crude oil, other petroleum products, energy and gas. By Blockline and Associate Ltd Nigeria Ltd, online.
CBM Asia reported plans for the Kutai West PSC development. CBM Asia’s primary goal for 2014 is to commercialize the Kutai West Production Sharing Contract (PSC) in East Kalimantan, Indonesia, located near the Bontang LNG export facility. Achieving early-stage commercial production will help unlock the value of this asset, which is situated close to high-priced Asian gas markets.
CBM Asia holds an 18% working interest in the Kutai West PSC, representing 705 Bcf of recoverable prospective resources net to CBM Asia from the total 3.9 Tcf estimated by an independent audit conducted in 2013 by Netherland, Sewell & Associates. Kutai West is regarded as one of the best and commercially most advanced of the more than 50 awarded CBM blocks in Indonesia.
Kutai West is adjacent to the Sanga-Sanga PSC, where VICO (BP and partners) is commercially producing and selling CBM for power generation and gas to the nearby Bontang LNG facility. As VICO notes: “This is the first time in Indonesia that any CBM facilities have produced and sold gas and represents a major milestone in the exploration of CBM potential.”
Kutai West will produce from the same coal seams as at Sanga-Sanga. To date, the company and its partners have drilled four CBM test wells on the block, verifying thick coal seams (average 105 ft) with high gas content (average 300 ft3/ton; dry, ash-free basis) and gas saturation (close to 100%), as well as 5-mD permeability. The KWCBM-01 well is currently being dewatered, venting produced gas from the flare stack, which is a key first step towards larger scale production.
Management’s main focus this year is to initiate commercial gas production at Kutai West with a 5-well pilot, followed by a larger commercial scale 25-well development (total 30 wells). To this end CBM has reached consensus with its partners to sell the produced gas to locally installed gas engine power generation units selling power into the PLN grid and later to feed gas into the gas-short Bontang LNG export network. Anticipated gas prices are $8/Mcf or higher. Bontang exports LNG to Japan and other Asian rim importers, which are critically short of natural gas.
Under Phase 1 four new CBM wells will be drilled near the existing KW-CBM01, forming an effective dewatering pilot on tight 40-acre spacing to accelerate gas production and demonstrate commerciality. Produced gas estimated at 2.0-2.5 MMcfd (gross) would be sold to a power station developer/operator and PLN for on-site power generation at about $8/Mcf. The government of Indonesia strongly supports such commercialization prior to formal Plan of Development (POD) approval. Total capex for Phase 1 is estimated at $7.16 mn, comprising four wells at $1.46 mn/well cost (drilling & completion, water management, and surface facilities) plus $1.32 mn in engineering and overhead costs. An additional $200,000 would be required for field operating expenses during the first year. CBM Asia’s share of the Phase 1 costs is estimated at $2.15 mn.
The 10-MW power station would employ an array of 1-to5-MW reciprocating engines; hundreds of such installations already are in operation throughout Indonesia.The power station would be independently owned and operated, with no capital required from CBM Asia. Drilling and completing the wells would require about two months, plus an additional four months to install and commission the power plant. An updated engineering audit would be conducted to certify proved and probable reserves, with an excellent chance of qualifying the project for low-cost Phase 2 project financing.
Following success in Phase 1 and the approval of the Phase 2 POD, CBM Asia and its partners would utilize two rigs to drill an additional 25 wells (30 total) over a 7-month period. The increased production initially would supply the power station. Pending successful conclusion of a sales agreement, a 12-in., 20-km pipeline would be constructed to the Badak compressor station by a third party under BOO basis and funded via an estimated $0.50/Mcf transport tariff. Total capex for phase 2 is estimated at $36.3 mn with CBM Asia’s share of costs estimated at $8.0 mn. Production estimated at 12.5 MMcfd (gross) would be sold into the Bontang LNG export network at approximately $8/Mcf or more. Note that Bontang is the world’s second largest LNG plant (22.5 mtpa), shipping primarily to Japan, but local conventional gas supplies are in decline and the facility is currently operating at less than 60% of capacity.
“The Kutai West and Sekayu PSC’s both have substantial engineered resources for commercialization, but Kutai West is most viable for near-term commercial development” noted President and CEO Charles Bloomquist. “We are focusing our efforts on achieving commercial production and gas sales at the block as soon as possible, likely before the end of 2014. We estimate that with completion of the Phase 2 development CBM Asia will be operational cash flow positive. Jointly with its partners the company has developed a technical plan and budget for the Kutai West commercial development and will post details in a new presentation on its website in the coming days.”
Providing useful resources, articles and writings on crude oil, other petroleum products, energy and gas. By Blockline and Associate Ltd Nigeria Ltd, online.
GeoPetro Resources reported that reworking and testing operations commenced in March 2014 in the Madisonville field, Madison County, Texas.
The Company initiated reworking and testing operations on the Ruby Magness #1 and the Angela Farris Fannin #1 wells in anticipation of restoring production in the Madisonville field. These two wells are expected to recommence production by mid-year 2014.
The Company owns a 100% working interest in certain leases in the Rodessa Formation interval within the Madisonville Field.The Company also owns a 100% interest in a natural gas treatment plant and related gas gathering pipelines and related facilities (collectively, the plant).The plant has a design capacity to treat 18 Mcf of natural gas per day.
The Company is currently conducting additional operations and work programs to restore its production from the Ruby Magness #1 and Angela Farris Fannin #1 wells. The Company also plans to further increase production in the Madisonville Field by performing workover operations in the Mitchell #1 and Wilson #1 wells in 2014.
Addressing the positive developments at the Madisonville Project, GeoPetro' s President and CEO, Stuart J. Doshi commented, "We are particularly pleased with the commencement of operations at Madisonville Field which represents a significant milestone for the Company.The recent strengthening of natural gas prices from the 10-year lows experienced over the previous two years provides us with an opportunity to position the Company to re-establish production and generate revenues and positive cash flow for the Company by not only bringing the Magness #1 and Fannin #1 wells online, but also further enhancing production by performing workovers at the Mitchell #1 and the Wilson #1 wells.Additionally, the Company continues to be focused on securing an industry partner to undertake the drilling of a deep well to test six highly prospective zones in the Madisonville Field.Our 3-D seismic shows a very attractive structural closure with a high potential for a major discovery."
The Madisonville Field has been a prolific producer of oil and natural gas.The Rodessa and shallower zones have to date produced in excess of 30 MMbbl of oil and 100 Bcf of natural gas.The six zones below the Rodessa Formation have potential recoverable reserves of approximately 1 Tcf of natural gas.
Providing useful resources, articles and writings on crude oil, other petroleum products, energy and gas. By Blockline and Associate Ltd Nigeria Ltd, online.
THE WOODLANDS, Texas -- Layne Christensen Company announced today that the U.S. Department of Justice has decided to not file any charges against the company in connection with the previously disclosed investigation into potential violations of the Foreign Corrupt Practices Act (FCPA). The DOJ has notified Layne that it considers the matter closed.
Net oil imports to the U.S. could fall to zero by 2037 because of robust production in areas including North Dakota’s Bakken field and Texas’s Eagle Ford formation, according to a government projection released.
The Energy Information Administration, the branch of the Energy Department that collects and analyzes energy data, said the once-chimerical goal of U.S. energy independence could be within reach in 23 years under a “high-production” estimate contained in an update of its periodic energy forecast.
“This is the first time that a case in the Annual Energy Outlook has projected that net imports’ share of liquid fuels consumption could reach zero,” said John Krohn, a spokesman for the EIA, in an email.
Estimating oil production is a tricky business, particularly for the length of time in EIA’s analysis. Forecasters must make a number of guesses, including the size of oil reserves lying thousands of ft underground, how quickly technology advances, and whether a rise in oil prices can make resources once too costly to produce suddenly economic.
“Forecasts going out 20 years make astrology look like respectable science,” said Stephen Schork, President of Schork Group, a consulting group in Villanova, Pennsylvania. “Ten years ago we were importing natural gas, and now we’re looking at exports. The changes have over the last few years have been dramatic and there’s really no way to predict things more than a couple years in advance.”
Some industry analysts are questioning whether the formula used to calculate oil reserves works for shale formations.The Arps method, named for Jan Arps, a petroleum engineer who invented it in 1945, has been the standard for decades.
John Lee, a University of Houston engineering professor, told Bloomberg News that estimates of billions of barrels of untapped shale oil rely on limited drilling history and may exaggerate future production, raising questions about whether U.S. energy independence is truly in reach. Some companies have lowered forecasts after production didn’t reach anticipated levels.
One thing is undeniable: the U.S. energy picture is changing rapidly. If anything, the EIA is overly pessimistic even in its high-production scenario, said Pavel Molchanov, an analyst at Raymond James Financial.
The St. Petersburg, Florida-based company projects the U.S. will essentially be energy independent by 2020, thanks to an increase in oil and biofuels production and a slight downturn in demand for liquid fuels.
“It’s absolutely night and day from where we were five years ago,” Molchanov said in a phone interview.
Under EIA’s high-resource assessment, it’s most optimistic, production increases to 13 MMbpd over the next two decades, based on more favorable assumptions relating to technological advancements and well productivity.
Production levels never exceed 10 MMbpd under a reference case, which assumes no dramatic changes to drilling activity.
Already net oil imports have fallen to about 5 MMbpd from a peak of almost 13 MMbbl in 2006, thanks in large measure to advances in techniques such as hydraulic fracturing and horizontal drilling in shale rock, which are also known as “tight oil” formations.
Production from tight oil formations has increased from less than 1 MMbpd in 2010 to 3 MMbpd in 2013, according to the EIA.
The EIA also included a low-resource estimate where production rises to 9.1 MMbpd in 2017 before falling to 6.6 MMbpd in 2040.
In the EIA reference case, the net import share of petroleum and other liquids consumed in the U.S. falls to 25% in 2016 and then rises to 32% in 2040.
“The high case is very high,” said Sarah Emerson, managing principal of ESAI Energy in Wakefield, Massachusetts.“Their reference case is reasonable and a lot more likely.”
Guy Caruso, who led the EIA from 2002 to 2008, said he thought production may end up coming in somewhere between the agency’s reference case and its high-end assessment.
More experience drilling in the U.S. shale reserves and new research and development spending will probably increase productivity, said Caruso, now a senior adviser at the Center for Strategic and International Studies, a research group in Washington.
“A lot of things have to go right” for the high-end case to come to fruition, Caruso said in a phone interview.“It’s so early in the game, but it’s not unreasonable to see something like this. We could be pretty low on the learning curve.”
Providing useful resources, articles and writings on crude oil, other petroleum products, energy and gas. By Blockline and Associate Ltd Nigeria Ltd, online.
ADX Energy secures 2 year extension for Kerkouane permit offshore Tunisia WEST PERTH, Australia ADX Energy Ltd (ADX) reported that the TunisianAuthorities (Comite Consultatif des Hydrocarbures) have approved a 2 year extension of the Exploration period for the Kerkouane permit
Emerson Process Management has introduced new Daniel multi-path gas and liquid ultrasonic meters that feature a next-generation electronics platform.
The accuracy, line size breadth, and flexibility make the new JuniorSonic one-path (3411) or two-path (3412), and SeniorSonic four-path (3414) gas ultrasonic meters ideal for a number of flow measurement applications. In addition, the new four-path (3814) liquid ultrasonic meter expands on the functionality and performance of its predecessor, the 3804 liquid ultrasonic meter, to offer improved reliability for custody transfer applications.
With faster flow sampling rates, the new electronics platform significantly increases the data set used to calculate average velocity, allowing rapid recognition of changing flow dynamics. Users will have access to high-volume data capture as well as detailed flow parameters, including pressure, temperature, and gas composition, allowing the meter to act as a redundant flow computer.
Improved calculations for auditing or invoice resolution are enabled by the electronics’ fast delivery of key data from the meter’s audit trail. The audit trail complies with American Petroleum Institute Standard 21.1, and is supported by a standard 128 MB non-volatile memory. Access to alarms, events and configuration changes is provided in a matter of seconds.
Additionally, the meters’ electronics feature a compact circuit board for increased reliability and maintainability, simplifying field removal and reinstallation. The electronics retrofit Daniel legacy ultrasonic meters and are expandable, enabling future upgrades to help meet changing customer needs. The electronics support remote access as well as true 100BaseT Fast Ethernet connectivity to facilitate enterprise-wide communication and integration.
To further improve reliability and uptime, each Daniel gas ultrasonic meter is supplied with new, rugged T-20 Series transducers that are engineered for wet, rich and/or dirty gas applications. The transducers facilitate troubleshooting by enabling operators to quickly detect and isolate problems, preventing unnecessary depressurization of the meter.
The new Daniel gas and liquid ultrasonic meters are also equipped with an updated version of MeterLink (v1.10), a configuration and diagnostic software that utilizes an intuitive interface to improve overall functionality and ease of use. MeterLink displays abnormal flow profiles, upstream blockage, deposit build-up within the meter, and the existence of liquid hydrocarbon in gas.
Providing useful resources, articles and writings on crude oil, other petroleum products, energy and gas. By Blockline and Associate Ltd Nigeria Ltd, online.
NCS Survey Ltd awarded five year subsea contract with Ceona WESTHILL, United Kingdom NCS Survey, an Acteon company, has been awarded a five year contract for positioning services with SURF company, Ceona. Mobilisation has been successfully completed on the first
Total and its JV partners have made the final investment decision to develop the ultra-deep offshore Kaombo project in Angola. With a production capacity of 230,000 bpd, Kaombo will develop estimated reserves of 650 MMbbl. Following an intensive optimization exercise, the project’s capital expenditure to reach full capacity was reduced by $4 bn to $16 bn, with an expected start-up in 2017.
“With the launch of Kaombo, the upcoming start-up of CLOV and three exploration wells planned in the Kwanza basin this year, Angola remains a priority country for Total,” outlined Yves-Louis Darricarrere, President Total Upstream. “While continuing our commitment to develop the Angolan oil industry, Total has significantly optimized the project’s design and contracting strategy in recent months. Kaombo illustrates both the Group’s capital discipline and objective to reduce capex.”
Located approximately 260 km offshore Luanda in water depths ranging from 1,400 to 1,900 m, the Kaombo project will develop six of the 12 discoveries already made on Block 32. The six fields (Gengibre, Gindungo, Caril, Canela, Mostarda and Louro) cover an area of 800 sq km in the central and southeast part of the block.
The Kaombo development scheme includes 59 subsea wells connected through around 300 km of subsea lines to two FPSOs, each with a production capacity of 115,000 bpd. The two FPSOs will be based on conversions of very large crude carriers (VLCCs) into production units. Associated gas will be exported to the onshore Angola LNG plant.
The Kaombo development includes a substantial level of local content. Over 14 mn man-hours of fabrication and construction works will be performed locally in Angolan yards which will be used for equipment fabrication and assembly.
Total is the operator of Block 32, with a 30% stake, alongside Sonangol P&P (30%), Sonangol Sinopec International (20%), Esso Exploration and Production Angola (Overseas) (15%) and Galp Energia (5%).
Providing useful resources, articles and writings on crude oil, other petroleum products, energy and gas. By Blockline and Associate Ltd Nigeria Ltd, online.
OMV second quarter profit falls on Libya output disruption JONATHAN TIRONE VIENNA, Austria (Bloomberg) OMV AG, reported a 37% decline in second quarter profit because of production disruptions in Libya. Net income fell to 202 million euros ($270 million), while
AGR has been assigned by Premier Oil to deliver a range of services within the Norwegian Continental Shelf (NCS).
The contract period is for five years plus an additional three years. The scope of the agreement covers well management and well planning services for exploration drilling and field developments. The work scope will encompass delivery of resources, competence and methodology by AGR’s well management team in Norway.
Sjur Talstad, AGR’s E.V.P, Norway and Russia, said: “We are pleased to continue the close working relationship with Premier Oil on the Norwegian Continental Shelf (NCS). The activity will be carried out from our fast growing Stavanger office which has an excellent track record of delivering well management and operational HSE support."
AGR recently celebrated drilling over 500 well projects in 25 countries for 106 clients - an average of one drilling project commenced every 10 days since 2000. On the NCS, the company has managed over 80 drilling projects on 14 rigs on behalf of 21 operators. Last year, AGR’s Norway team was involved in 15% of exploration wells drilled on the NCS.
Providing useful resources, articles and writings on crude oil, other petroleum products, energy and gas. By Blockline and Associate Ltd Nigeria Ltd, online.
Woodside acquires exploration acreage in Gabon PERTH, Australia Woodside reported that it has acquired a 40% participating interest in an exploration, exploitation and production sharing contract (EEPSC) for Block F15 in the Gabon Coastal Basin. Block F15 is located 140
Brent and West Texas Intermediate crudes fell for the first time in three days after Libyan rebels surrendered control of two oil ports to the government, enabling the OPEC country to increase exports.
Brent dropped as much as 1.4%. The self-declared Executive Office for Barqa handed over the oil terminals of Hariga and Zueitina overnight, and will relinquish the other two ports they control in two to four weeks, said Ali Al-Hasy, a spokesman for the group. Libya’s output fell to 250,000 bpd in March from 1.4 million bpd a year earlier, according to data compiled by Bloomberg.
“The possibility that Libyan barrels are returning to the market is weighing on oil,” said Gene McGillian, an analyst and broker at Tradition Energy in Stamford, Conn. “Rising supplies will drive the market lower.”
Brent for May settlement slid $1.12, or 1%, to $105.60/bbl at 12:13 p.m. New York time on the London-based ICE Futures Europe exchange. The volume of all futures traded was 31% higher than the 100-day average.
WTI for May delivery decreased 77 cents, or 0.8%, to $100.37/bbl on the New York Mercantile Exchange. Volume was 11% above the 100-day average. The U.S. benchmark grade’s discount to Brent shrank to $5.23 from $5.58 on April 4.
Libyan Ports
Hariga has a capacity of 110,000 bpd, and Zueitina can handle 70,000 bpd, according to IHS Inc. The other two terminals are Es Sider, the nation’s largest port at 340,000 bpd, and the Ras Lanuf terminal with 220,000 bpd.
The port opening “is definitely a bearish development,” said John Kilduff, a partner at Again Capital LLC, a New York- based hedge fund that focuses on energy. “But we have to see if that comes to fruition.”
Libya currently exports about 85,000 bpd of crude from the offshore fields of Jurf and Bouri, which are unaffected by the protests that have disrupted output on land, according to the Oil Ministry.
“The protesters are banned from returning or obstructing work at the ports,” Justice Minister Salah Al-Mirghani said after talks with rebels April 6 in Zueitina.
Libya, the holder of Africa’s biggest crude reserves, has become the smallest producer in the 12-member OPEC, as rebels seeking self-rule in the eastern region of Cyrenaica halted production and shipments.
“If Libya production does increase, it should provide some pressure on Brent relative to WTI,” said Tom Finlon, Jupiter, Florida-based director of Energy Analytics Group LLC.
Gasoline Futures
WTI rose earlier with gasoline futures, which reached a one-week high before both declined again. Gasoline for May delivery slipped 1.66 cents, or 0.6%, to $2.9147/gal. It climbed as much as 0.5% to $2.9461, the most since March 28.
The rebound in WTI was “really led by gasoline,” said Carl Larry, president of Oil Outlooks & Opinions LLC in Houston.
With assistance from Grant Smith, in London, and Maher Chmaytelli, in Dubai.
Providing useful resources, articles and writings on crude oil, other petroleum products, energy and gas. By Blockline and Associate Ltd Nigeria Ltd, online.
Emerson Process Management is expanding the company’s existing manufacturing and engineering services campus in Cluj-Napoca, Romania.
The expansion includes a new, 18,800-sq-m flow measurement manufacturing building. This $60-million investment will help meet growing demand for the company’s flow measurement products and services in Europe and other regions.
Additionally, in the summer of 2014, Emerson Process Management moves into a separate, newly constructed $16-million facility on the Cluj campus that will be home to the Regional Project Engineering Center and the European System Integration Center for its PlantWeb Solutions Group. This facility will house up to 600 employees who provide engineering and support services for European control systems and automation projects, plus an initial 100 additional personnel to assemble and test control systems for projects throughout Europe.
The new flow technology manufacturing building will offer calibration, services, and customer training facilities for Emerson Process Management’s Micro Motion, Rosemount, and Roxar flow measurement technologies. This facility will provide modern and spacious production capabilities as well as offices for engineering and customer support services, and fulfill market demands for quality and traceable calibration.
In addition, a state-of-the-art customer experience center is planned that will incorporate training and meeting facilities, along with displays of Emerson technologies. The new facility adds to Emerson’s current European network of facilities, which includes an existing flow manufacturing and service center in Ede, the Netherlands.
“These additional capabilities increase our flexibility and ability to manage our European customers’ most challenging needs,” said Sonnenberg.
The company’s Cluj-Napoca campus currently manufactures Fisher pressure regulators, Roxar flow metering and flow assurance products, Rosemount Analytical products, Leroy-Somer power generators, Control Techniques electrical equipment for photovoltaic power plants, RIDGID tools, and Appleton A.T.X. lighting fixtures and junction boxes for hazardous and adverse environments.
Providing useful resources, articles and writings on crude oil, other petroleum products, energy and gas. By Blockline and Associate Ltd Nigeria Ltd, online.
OPEC will need to pump more crude in the second half of the year to meet global demand after its production plunged to a five-month low in March, according to the International Energy Agency.
Supplies from the Organization of Petroleum Exporting Countries “plummeted” by 890,000 bpd to 29.62 MMbpd in March, the Paris-based IEA said in its monthly oil market report. That’s below OPEC’s collective 30 MMbbl production target and means the group will have to increase output in the second half of the year, it said. The agency’s global oil demand growth forecast was little changed.
“OPEC supply actually registered a steep drop in March from February highs, but this setback looks likely to be short-lived,” the IEA, an adviser to oil-consuming nations, said. “Prospects for OPEC output are also on the rise - though not without considerable political risk.”
Brent crude prices have dropped 3.3% this year to trade at about $107.12 a barrel today amid rising U.S. production and signs of slowing emerging economies. The International Monetary Fund cut growth predictions for countries including Brazil, Russia, South Africa and Turkey earlier this month.
“Demand growth is lagging supply,” Andrey Kryuchenkov, an analyst at VTB Capital in London, said in an emailed response to questions. “Despite a higher call on OPEC in the second half, supplies are plentiful. It’s little surprise OPEC supplies slipped in March since demand slows.”
Production from OPEC’s 12 members dropped in March amid declines in Iraq, Saudi Arabia and Libya, the IEA said. The group, which is responsible for about 40% of world oil supplies, pumped 30.51 MMbpd in February.
OPEC will need to provide 30.6 MMbpd of crude in the second half, the agency estimated. That’s an increase of 350,000 bpd from the previous forecast, as the IEA reduced its expectations for oil production from countries including Russia and Kazakhstan.
Oil supplies from nations outside OPEC are forecast to reach 56.2 MMbpd this year, a downward revision of 200,000 bpd from the previous month, the IEA said.
Global demand is seen increasing to 92.7 MMbpd this year, little changed from last month’s report, according to the IEA. The agency trimmed its forecast for Russian oil consumption by 55,000 bpd to 3.5 MMbpd this year as its economy slows after the nation annexed Crimea.
“One month after the events in Crimea, market watchers are taking stock of their impact on oil markets,” the IEA said. “Given the still volatile nature of the situation on the ground, there are more questions than answers.”
In separate report yesterday, OPEC trimmed estimates for the amount of crude it will need to pump this year amid rising U.S. supplies, and predicted that a “supply buffer” will accumulate before demand peaks in the summer.
Providing useful resources, articles and writings on crude oil, other petroleum products, energy and gas. By Blockline and Associate Ltd Nigeria Ltd, online.
HAMILTON, Bermuda -- Seadrill, in cooperation with indigenous partner Field Offshore Design Engineering Nigeria, has secured a contract with Esso Exploration and Production Nigeria, an Exxon Mobil subsidiary, for employment of the newbuild ultra-deepwater drillship West Saturn, in support of the ERHA North Phase 2 project in Nigeria.
N’DJAMENA, Chad (Bloomberg) -- Chad withdrew the licenses of China National Petroleum Corp.’s local unit after saying the company failed to pay a $1.2 billion fine for environmental violations. The government and oil exploration company failed to agree on the payment and the licenses were annulled, Ministry of Energy spokesman Bertin Djim said.
American Petroleum Institute President and CEO Jack Gerard has welcomed a Senate letter sent from nearly a dozen Democrats to President Obama urging him to swiftly approve the Keystone XL pipeline and put thousands of Americans to work while enhancing U.S. energy security.
“The voices of bipartisan support for KXL continue to grow louder with many of those voices coming from the president’s own party,” said Gerard. “President Obama should listen to these voices and that of the majority of Americans who are beyond tired of waiting for this project’s approval.
“Delaying the decision on the Keystone XL sends the wrong signal to the rest of the world. A nation that continues to be indecisive on a simple a matter of our own energy security will have a hard time convincing the rest of the world we can be decisive when it comes to their interests. We’ve got to get focused on Keystone approval. The world is watching. We need to send the signal: We’re serious about our domestic energy policy and our global energy policy. It’s time to approve the Keystone XL pipeline.”
Providing useful resources, articles and writings on crude oil, other petroleum products, energy and gas. By Blockline and Associate Ltd Nigeria Ltd, online.
KINSHASA, Democratic Republic of Congo -- Oil of DRCongo, the Fleurette Group' s oil exploration subsidiary, has announced an update of the interpretation of the recently processed 3D seismic surveys acquired in 2013-14 over its prospects in Blocks I and II in Lake Albert in the Democratic Republic of Congo. The seismic campaign covered approximately 700 km offshore and 150 km onshore. Oil of DRCongo has now completed the interpretation of the seismic data. The analysis was undertaken by GeoTrace and Ecopetrol in conjunction with Sproule International, and it indicates around 3 Bbbl of oil in place.
ASKER, Norway -- TGS, as the official data provider, is supporting the Liberian government and the National Oil Company of Liberia through the international competitive bidding process for the latest Liberia Basin Bid Round. The round, which is open for three months, from August 5 to October 31, comprises four undrilled offshore petroleum exploration blocks over which TGS has comprehensive, high quality, data coverage constituting 2D in blocks LB-6, LB-7 and 2D/3D in blocks LB-16 and LB-17.
VNG Norge AS, operator of production licence 586, has concluded the drilling of exploration well 6406/12-3 S. The test results indicate a discovery far larger than expected.
The well was drilled on the Halten Terrace, about 33 km southwest of the Njord field.
The main objective of the well was to test the hydrocarbon potential in the Pil prospect, up-dip from the offset well 6406/12-1 S. The primary reservoir target was Upper Jurassic sandstones of the Rogn and Melke formations.
The well encountered a 91 m gas column and a 135 m oil column in Upper Jurassic sandstones. Preliminary analyses based on extensive coring, wireline logs and pressure data show that the well has encountered sandstones with very good reservoir properties.
An extensive data acquisition program was carried out in the well, including a successful production test. The production rate was 1,067 Sm3 oil per flow day through a 56/64-in. nozzle. The test showed good flow properties and the gas/oil ratio was 152 Sm3/Sm3. Preliminary estimates place the size of the discovery at between 8 and 27 million Sm³ recoverable oil equivalents with a considerable additional upside volume within the Pil closure not proven by the well.
Production licence 586 was awarded on 4 February 2011 (APA 2010) and this was the first well to be drilled in the licence. 6406/12-3 S was drilled to a vertical depth of 3,738 ms below sea level, and was terminated in the Upper Jurassic Melke formation. The water depth is 324 meters. The well will now be permanently plugged and abandoned.
Well 6406/12-3 S was drilled by the Transocean Arctic drilling facility, which will now first drill a a down dip sidetrack to prove up the lateral extent of the Pil reservoir and the upside case.
This will be followed by a further sidetrack to assess the potential of the neighbouring Bue target.
VNG Norge is the operator in PL586 with a 30% share. Partners are Spike Exploration (30 %), Faroe Petroleum Norge (25 %) and Rocksource Exploration Norway (15 %).
Providing useful resources, articles and writings on crude oil, other petroleum products, energy and gas. By Blockline and Associate Ltd Nigeria Ltd, online.
HOUSTON -- CAMAC Energy has announced the preliminary results of a successful Oyo field development well offshore Nigeria in OML 120. The Oyo-8 well commenced drilling operations on June 15, 2014, and has both a vertical and a horizontal section. The vertical section was designed to test for additional hydrocarbons in the previously undrilled Eastern fault block of the Oyo field.
HOUSTON (Bloomberg) -- Cobalt International Energy Inc. fell more than 10% after it reported a government corruption investigation into its Angola operations may lead to an enforcement action against the global oil producer. Cobalt, based in Houston, received a Wells Notice from the U.S. Securities and Exchange Commission alleging violations of certain securities laws, the company said August 5 in a filing. The notice is part of an investigation dating back to 2011 examining whether Cobalt may have violated the Foreign Corrupt Practices Act in Angola, one of its biggest regions for investment and exploration.
Shell begins production from Bonga north west project in Nigeria THE HAGUE, Netherlands Shell’s deep water subsidiary in Nigeria, Shell Nigeria Exploration and Production Company Ltd (SNEPCo) started oil production from the first well at the Bonga North West deep
Iran’s crude shipments in February were the highest since the imposition of sanctions and more than a limit agreed with Western powers in an interim nuclear deal, according to the International Energy Agency.
The country shipped 1.65 MMbpd to importing countries in February, the highest level since June 2012, the IEA said. March shipments, estimated to have fallen to 1.05 MMbpd, “will likely be revised upwards closer to February levels upon receipt of more complete data,” the IEA said.
“Imports of Iranian oil are running well above 2013 levels for the third consecutive month” and could remain high in April, the Paris-based adviser to 28 nations said in its monthly oil market report. Under the interim nuclear deal agreed in November, “Iran’s exports are supposed to be held at an average 1 MMbpd for the six months to end-July,” it said.
Iranian oil production plunged by 1 MMbpd, or 28%, from 2011 to 2013 after the U.S. and European Union banned imports of oil from the country and imposed financial sanctions. An interim accord easing restrictions on insurance for Iran’s oil shipments and freeing up cash held outside the country went into effect in January, in return for a suspension of some parts of the country’s nuclear program.
Crude shipments from Iran will probably average above 1.2 MMbpd over the six month period of sanctions relief, Richard Mallinson, geopolitical analyst at Energy Aspects, said by phone today from London.
Keeping production at the level of the last couple of months “will have a real knock-on effect in the diplomacy,” Mallinson said. “I don’t think it’s too late yet for Iran to moderate that short-term behavior, in order to rebuild some confidence in the talks and as they progress towards a final deal.”
Officials from Iran, the U.S., UK, France, Germany, China, Russia and the EU met in Vienna this week. “A lot of intensive work will be needed to overcome the differences,” between the two sides before a final July deadline for a nuclear deal, EU foreign policy chief Catherine Ashton said as talks ended April 9. Diplomats will meet again on May 13 for talks.
The IEA revised upward February import volumes of Iranian crude by 240,000 bpd after it gathered more complete data. China, India, and South Korea all imported more Iranian oil than originally estimated in last month’s report, the IEA said. The agency counts cargoes once they are received in importing countries.
Buyers permitted to import Iranian crude under U.S. sanctions are Turkey, China, Japan, India, South Korea and Taiwan. In March importers of Iranian oil expanded to include Albania and Syria, the IEA said. February data for Chinese, Indian and Korean imports were revised upwards by 168,000, 93,000 and 83,000 bpd respectively. Japanese data was revised down by 103,000 bpd.
Iranian crude stored on tankers fell from 32 MMbbl at the end of February to 22 MMbbl at the end of March, the agency said citing data from E.A. Gibson Shipbrokers.
Providing useful resources, articles and writings on crude oil, other petroleum products, energy and gas. By Blockline and Associate Ltd Nigeria Ltd, online.
DUBAI, United Arab Emirates (Bloomberg) -- Dragon Oil Plc CEO Abdul Jaleel Al Khalifa sees Egypt as “one of the prime areas” for expansion after the explorer secured its first contract in the country. “There’s a lot of potential in small deals in Egypt,” Al Khalifa said in a phone interview. “There are also big acquisition targets available. It’s a country with its own challenges, but it’s considered to be a huge growth market for newcomers.”
EMAS AMC clinches $110 mn contracts for work in Asia Pacific, Africa and GOM SINGAPORE Ezra Holdings Limited (Ezra), reported that its Subsea Services division, EMAS AMC, has been awarded several projects around the world worth close to $110 million,
Canada’s federal government isn’t doing enough to build support for Enbridge Inc.’s proposed pipeline to ship crude from the oil sands to the nation’s Pacific coast, said Alberta Finance Minister Doug Horner.
“The federal government needs to step up here a little bit” to convince aboriginal groups and the general public that the Northern Gateway pipeline is in the nation’s interest, Horner said in an interview at Bloomberg headquarters in New York. “We’ve suggested to them that they may want to get involved.”
Opposition by aboriginal groups and environmentalists is clouding Canada’s plans to develop Alberta’s oil sands, home to the world’s third-largest recoverable crude reserves. Producers such as Royal Dutch Shell Plc and Total SA are counting on projects such as Northern Gateway and TransCanada Corp.’s Keystone XL to ease a transportation bottleneck that has suppressed the price of Canada’s heavy crude, costing the economy C$50 million ($46 million) a day, according to the Canadian Chamber of Commerce.
The federal government should make it clear the pipeline is of national economic importance, said Horner. “You have to remember that a lot of what we do in western Canada creates economic activity and jobs in eastern Canada,” he said.
Harper’s government must decide whether to approve Northern Gateway by June. A regulatory panel said in December the project could move ahead under certain conditions.
British Columbia, the country’s westernmost province, has said it will only back the project if it meets five conditions, including greater engagement with aboriginals and increased financial benefits for the province. Local communities say there’s too much risk and too little benefit to having an oil pipeline cross their region.
Canadian Finance Minister Joe Oliver, who was the country’s natural resources minister until last month, told reporters today the government is constrained in what it can say until the cabinet issues its decision.
Horner’s comments followed a speech by former Canadian prime minister Brian Mulroney in which he called for a “strong national commitment” to export the nation’s natural resources to markets around the world, in particular Asia.
“We cannot sit back, contemplating our collective navel and expect customers to knock on our door,” Mulroney said yesterday. “We have to demonstrate convincingly that we are capable of doing what is required to earn their confidence that we are a reliable, efficient source of supply.”
Horner said he’s “cautiously optimistic” the U.S. will approve TransCanada Corp.’s Keystone XL pipeline, which would link the oil sands to refineries along the Gulf Coast.
President Barack Obama’s administration is reviewing the route, which was first proposed in 2008.
“We are not just focused on Keystone,” Horner said. “We are looking at all three of the opportunities that are there today -- that’s east coast, west coast and to the south.”
Horner also said he is “seriously considering” running to succeed Alison Redford as leader of Alberta’s ruling Progressive Conservative Party. Redford stepped down last month amid questions about her expenses and leadership.
Horner is also speaking today to the Canadian Association of New York.
Providing useful resources, articles and writings on crude oil, other petroleum products, energy and gas. By Blockline and Associate Ltd Nigeria Ltd, online.
LONDON (Bloomberg) -- Nigeria’s government and Royal Dutch Shell Plc have failed to act on a United Nations 2011 report on oil pollution in Ogoniland in the Niger delta, according to an Amnesty International joint assessment. A recommendation by the United Nations Environmental Program to set up a $1 billion fund to clean up contaminated land in the region hasn’t been implemented and both the government and The Hague-based Shell have taken little action, according to the report published by Amnesty, Centre for Environment, Human Rights and Development, Environmental Rights Action, Friends of the Earth Europe, and Platform.
Bowleven receives government approval to develop block MLHP 7 offshore Cameroon DOUALA, Cameroon Bowleven, reported that the formal decree awarding the Etinde Exploitation Authorisation (EA) has been signed by the President of Cameroon. This concludes the final stage of the
Galp Energia comes up dry at the Tao 1 well off Morocco LISBON, Portugal Galp Energia has concluded the drilling of the exploration well TAO 1, located in the Tarfaya Offshore area, in the Atlantic margin of offshore Morocco, where
Aker Solutions won a contract worth more than $300 mn from Petrobras to supply eight manifolds that alternately inject water and gas to increase oil recovery from Brazil' s deepwater offshore fields.
The subsea manifolds, designed for water depths of 2,500 m, will be installed by Petrobras and its partners in deepwater pre-salt field developments.The units have a design life of 30 years and the first is scheduled to be delivered in 2016.
"We are pleased to work with Petrobras on its important and technically challenging pre-salt developments," said Oyvind Eriksen, executive chairman of Aker Solutions. "Brazil is a key market for our subsea technology and one of the fastest growing areas in the oil and gas industry."
The order will be executed by Aker Solutions' Brazilian subsea division. The unit last year began work to double its subsea equipment manufacturing capacity at a plant in Curitiba by 2015. About 70% of the contract with Petrobras will be procured and manufactured in Brazil.
"Aker Solutions is committed to delivering high local content in Brazil, where demand for complex subsea production equipment is growing," said Luis Araujo, president for Aker Solutions in Brazil.
The manifolds will play a key part in the crucial injection process that helps improve recovery from the fields.
Providing useful resources, articles and writings on crude oil, other petroleum products, energy and gas. By Blockline and Associate Ltd Nigeria Ltd, online.
API-PA, a division of the American Petroleum Institute, approved of the Pennsylvania Public Utility Commission’s (PUC) statement that more than $224 mn will be distributed to local communities through the fees paid by natural gas producers under Act 13.
“Shale energy production is generating huge revenues for Pennsylvania in addition to driving job growth,” said Stephanie Catarino Wissman, Executive Director, API-PA.“Pennsylvania has collected more than $220 mn dollars from shale development fees for 2013 production. That translates into better roads, better housing, and better services for families and communities across the state.”
Under Act 13 of 2012, natural gas producers are required to pay a local impact fee which is deposited into the Unconventional Gas Well Fund. More than $630 mn has been collected from 2012-2014, according to the PUC. These revenues have supported housing initiatives, highway and bridge improvements, and environmental programs.
“Shale energy development, made possible by hydraulic fracturing, has transformed Pennsylvania’s economic future,” said Wissman. “The oil and natural gas industry is investing in communities, providing new revenue for the government and delivering a long-term path to new jobs for Pennsylvania workers. With the right policies moving forward, energy development will mean good news for the commonwealth for many years to come.”
Providing useful resources, articles and writings on crude oil, other petroleum products, energy and gas. By Blockline and Associate Ltd Nigeria Ltd, online.
CGG has announced the start of a large BroadSeis/BroadSource 3D multi-client survey in the Northern North Sea offshore Norway. The Horda survey will be the largest broadband multi-client program CGG has acquired in NW Europe as well as the largest multi-client 3D survey ever shot by any company in Norway.
Extending from the Horda platform in the southeast to the Sogn Graben in the north, the 19,000 sq km survey program includes the entire quadrant 35 and large parts of quadrant 31, 32 and 36 and covers more than 80 production licences such as Troll, Brage, Fram and Gjoa.
The survey is being acquired by the Viking Vanquish, and a second vessel will join later in the season. The acquisition program will continue in 2015.
Following several recent discoveries the greater Horda area has become an area of high exploration activity. The survey program’s main objective is to provide a large, uniform dataset with increased seismic resolution, which will offer a platform to improve industry understanding of the regional geology.
The survey has received high prefunding from the industry. Early participants have had the option to recommend priority areas and will also be invited to monitor the data processing which will be conducted in CGG’s Oslo subsurface imaging center.
Jean-Georges Malcor, CEO, CGG, said: “CGG is deploying its latest broadband acquisition and subsurface imaging technology on a seismic project of this magnitude in order to meet the industry’s need for state-of-the-art broadband data delivered in a cost-effective manner for a large area offshore Norway where no equivalent data of this quality exists. The Horda project has already been well received among the key players in the Northern North Sea and we expect the survey to generate a significant uplift in data quality and provide a valuable tool for all stages of ongoing and future E&P activity in the region.”
Providing useful resources, articles and writings on crude oil, other petroleum products, energy and gas. By Blockline and Associate Ltd Nigeria Ltd, online.
Baker Hughes stated the acquisition of Perfomix, a Texas-based oilfield software technology company focused on solutions to enhance oil and gas operations' performance. Perfomix will operate as a wholly-owned subsidiary of Baker Hughes and will be integrated into the company' s remote operations services organization.
Perfomix offers a data and advisory services delivery platform to support drilling, pressure pumping, completions and production operations, and regulatory reporting requirements. The addition of Perfomix will expand the Baker Hughes portfolio of field devices integration, real-time data management, visualization, and analytics software, thus complementing existing capabilities with a modern, elastically scalable and standards-based technology platform.
Providing useful resources, articles and writings on crude oil, other petroleum products, energy and gas. By Blockline and Associate Ltd Nigeria Ltd, online.
