Providencehelp Worldwide Foundation: 2014-09-14

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Friday, 19 September 2014

Exxon gets U.S. sanctions reprieve to shut Arctic oil well

IRVING, Texas (Bloomberg) -- Exxon Mobil Corp. said the U.S. government is giving the company more time to shut its Russian Arctic well beyond the deadline for sanctions aimed at halting the $700 million project. Exxon asked Washington for an extension to allow it to continue performing shut-down work on the Universitetskaya-1 (University-1) well in Russia’s Kara Sea to make sure the well was safe before it’s temporarily abandoned. The Irving, Texas- based company already had ceased drilling the offshore well after U.S. sanctions set a Sept. 26 deadline for ending the work.

DNV GL appoints new regional manager for South America

RIO DE JANEIRO -- Alex Imperial has taken over as DNV GL Oil & Gas’ regional manager for South America just as the company is creating a dedicated research unit in Brazil. Imperial recently left Singapore, where he was Director for DNV GL’s Deepwater Technology Centre, to take over DNV GL’s Oil & Gas Division in South America. Experience from his last position will benefit his new role as the new dedicated research unit means that research will be one of the DNV GL’s focus areas in Brazil.

Lukoil, NewAge farm into Bowleven’s Cameroon offshore block

Bowleven, an Africa focused oil and gas exploration group, has delivered its strategic intent to sell part of its interest in the Etinde Permit, offshore Cameroon, by entering into a conditional agreement with Lukoil and NewAge.

Bowleven will reduce its interest in the Etinde permit from 75% to 25% and receive aggregate consideration of approximately $250 million comprising a $170 million cash payment at completion; a $40 million staged deferred cash payment due at Etinde development project FID and on completion of appraisal drilling; and a $40 million (net) carry for two appraisal wells.

Lukoil will acquire a 37.5% interest and NewAge will acquire an additional 12.5% interest in the Etinde Permit to increase its group holding from 25% to 37.5%. Camop, a wholly-owned subsidiary of NewAge, will become operator of the Etinde Permit following completion, allowing Bowleven to focus on its proven exploration skillset.

Bowleven will retain a 25% interest in the Etinde Permit, ensuring continued exposure to the considerable resource and future development potential of the acreage.

Providing useful resources, articles and writings on crude oil, other petroleum products, energy and gas. By Providencehelp Worldwide Foundation, online.

Exxon, Rosneft said to halt Arctic drilling on sanctions

IRVING, Texas (Bloomberg) -- Exxon Mobil Corp. and OAO Rosneft halted drilling on an offshore oil well intended as the first step in unlocking billions of barrels of crude in Russia’s remote Arctic, according to people familiar with the project. Work stopped just a few days after the U.S. and European Union barred companies from helping Russia exploit Arctic, deepwater or shale-oil fields, said three people with knowledge of the rig’s operations who asked not to be named since they weren’t authorized to speak about the project.

Drillers can return to fight oil slump after Scotland says ‘No’

LONDON (Bloomberg) -- UK oil companies can stop fretting about Scottish independence and go back to combating a slump in output that’s the steepest of any major producer. Royal Dutch Shell Plc CEO Ben van Beurden and BP Plc head Bob Dudley were among those who said before the referendum that keeping Britain’s 307-year union was good for the oil industry. Both companies led development of the North Sea in its production heyday during the 1970s and ’80s, when the Scottish National Party first cried the slogan “It’s our oil!”

Wild Well Control adds new subsea capping stack in Singapore

Wild Well Control adds new subsea capping stack in Singapore HOUSTON – Wild Well Control, Inc., a Superior Energy Services company and a global leader in firefighting and well control, has unveiled its new subsea capping stack for response to

Capstone Turbine increases presence in African market with offshore order

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

BP plans deeper drilling for offshore oil despite ruling

BP plans deeper drilling for offshore oil despite ruling DAVID WETHE and BRADLEY OLSON LONDON (Bloomberg) Even as it faces $50 billion in potential liabilities from the worst U.S. offshore oil spill, BP Plc is leading the effort to extract

RWE Dea secures new blocks offshore Egypt

RWE Dea secures new blocks offshore Egypt CAIRO, Egypt RWE Dea has been awarded two new offshore concessions with operatorship by the Egyptian General Petroleum Corporation (EGPC). The concessions are located in the Gulf of Suez, where the company is

Jee secures contract extension with BP for offshore operation

Jee secures contract extension with BP for offshore operation TONBRIDGE, United Kingdom Jee Ltd has been awarded a three year contract renewal from BP with potential value in excess of $7.3 million (£4.5 million). The two companies have had a

Statoil suspends second rig on overcapacity

STAVANGER, Norway -- Statoil will lay up the COSL Pioneer rig in fourth-quarter 2014 due to overcapacity in its rig portfolio. The rig is currently carrying out an assignment on the Visund field and is scheduled to complete this work at the end of September. In July, Statoil also announced that the drilling rig Scarabeo 5 would be temporarily suspended.

Total starts production at CLOV, boosts Block 17 output to 700,000 bpd

Total, operator of Block 17 in Angola, has started up CLOV, a major deep offshore development located 140 km offshore Luanda, in line with the initial project schedule.

With a production capacity of 160,000 bpd, CLOV will develop proven and probable reserves of over 500 MMbbl. After Girassol, Dalia and Pazflor, CLOV is the fourth FPSO unit on Block 17.

"CLOV will contribute to increasing the Block 17 production to 700,000 bpd while also generating significant free cash flow for the Group. Block 17 will therefore become Total’s most prolific production site and bring us a step closer to achieving our production potential of 3 MMbpd by 2017,” commented Arnaud Breuillac, President Exploration & Production at Total.

Developing four fields (Cravo, Lirio, Orquidea and Violeta), the project comprises 34 wells and 8 manifolds connected by 180 km of subsea pipelines to an FPSO unit at water depths of 1,100 to 1,400 m. Measuring 305 m long and 61 m wide, the FPSO has a storage capacity of 1.8 MMbbl of oil. The gas produced on CLOV will be exported via a subsea line to the onshore Angola LNG liquefaction plant.

Angola

A subsea multiphase pump system will be used deep offshore to enable production of two different oil qualities from the oligocene reservoirs and the more viscous miocene reservoirs. A first for Total at this depth, this system will be used to boost the commingled fluid and enhance oil recovery.

The FPSO design minimizes its environmental footprint, with zero flaring under normal operating conditions and an “all electric” concept to increase on-site energy efficiency by producing only the quantity of electricity required to operate the facilities.

As part of Total’s commitment to increasing local content in its projects, a significant part of the CLOV development work was carried out in Angola. This represents more than 10 million man hours achieved in-country to complete fabrication and assembly on Angolan yards.

Total operates the block with a 40% interest, and its partners are Statoil (23.33%), Esso Exploration Angola (Block 17) Limited (20%) and BP (16.67%). Sonangol is the concessionaire for Block 17.

Providing useful resources, articles and writings on crude oil, other petroleum products, energy and gas. By Providencehelp Worldwide Foundation, online.

Aqualis Offshore signs contract with Saudi Aramco

LONDON -- Aqualis Offshore, part of Aqualis ASA, has signed a rig moving services contract with Saudi Aramco. The contract value is undisclosed. Under the deal, Aqualis Offshore will provide offshore rig moving services over the next three years for Saudi Aramco’s jackup rigs operating in the Arabian Gulf.

Scots independence threatens North Sea investment, Ian Wood says

LONDON (Bloomberg) -- Scottish independence risks curbing investment needed to maintain production from maturing North Sea oil resources, according to Ian Wood, author of a report into the industry cited by both the Scots and UK governments. “I believe it will be more difficult to get the level of investment we require under the changed regime,” Wood, former head of Aberdeen-based oil-services company John Wood Group Plc, said in an interview with Bloomberg TV.

Eni finds 300 MMbbl offshore Angola

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).

iSURVEY awarded two-year contract with Island Offshore

OSLO, Norway -- iSURVEY has been awarded a two-year contract with offshore vessel owner, Island Offshore Management. The contract will see iSURVEY AS provide positioning services to Island Offshore as part of a call off arrangement. Operations have already commenced on the first vessel, Island’s DP2 Light construction vessel, the Island Valiant.

ONGC Videsh signs LOI with PetroVietnam for exploration offshore Vietnam

ONGC Videsh signs LOI with PetroVietnam for exploration offshore Vietnam NEW DELHI, India ONGC Videsh Limited and PetroVietnam, have signed a Letter of Intent (LOI) on 15th September 2014 to participate in the exploration

Technip sells North American diving assets to Ranger Offshore

PARIS -- Technip has signed an agreement to sell 100% of its North American diving assets to Ranger Offshore. Technip’s strategy focuses on high technology and ultra-deepwater products and services.

Keppel secures fifth jackup contract from Gulf Drilling

SINGAPORE -- Keppel FELS Limited, a wholly-owned subsidiary of Keppel Offshore & Marine, has secured a contract from Gulf Drilling International (GDI) of Qatar to build a repeat high-specification KFELS B Class jackup rig worth $227 million. As part of the contract, GDI has options for two more KFELS B Class rigs for deliveries in 2017.

FPSO Cidade de Ilhabela sails from Brazil's Brasa shipyard

FPSO Cidade de Ilhabela sails from Brazil' s Brasa shipyard RIO DE JANEIRO FPSO Cidade de Ilhabela has sailed for the Brasa shipyard and, after sea trials, will be anchored in BM S 9 block in the Sapinhoá field. The departure

Weatherford awarded Statoil tubular running services contract

HOUSTON -- Weatherford International has been awarded an exclusive contract with Statoil Petroleum AS valued at $400 million for the delivery of Tubular Running Services on 19 drilling units in Statoil’s portfolio. This contract has a base period of six years with the option of two consecutive two-year extensions.

Dolphin awarded 3D seismic contract in the Indian Ocean

OSLO, Norway -- Dolphin Geophysical has been awarded a 3D seismic contract in the Indian Ocean for an independent oil company for approximately 60 days.

New board to drive technological innovation on UKCS

LONDON -- PILOT, the government-industry forum focused on initiatives to maximize economic recovery of the UK’s oil and gas resource, has announced the establishment of the Technology Leadership Board (TLB). The objective of the TLB is to drive forward the actions of the UK government’s industrial strategy to ensure technology development on the UK Continental Shelf (UKCS) is collaborative, directed towards priority areas and relevant to multi field application.

RWE Dea celebrates 30 years of production in Gulf of Suez

RWE Dea has achieved 30 years of oil production in the Gulf of Suez. The company has been producing oil from the Ras Fanar field, just a few miles off the west coast of the Gulf, since 1984.

Oil production at RWE Dea’s other two concessions in the Gulf of Suez -- Zeit Bay and Ras Budran -- has also been ongoing for around 30 years. From these three oil fields, RWE Dea has produced a total of 640 MMbbl of oil. RWE Dea operates and owns 100% of the three concessions.

Production operations are carried out by the Suez Oil Company (SUCO), a JV of RWE Dea and the Egyptian General Petroleum Corporation (EGPC).

“For 30 years now, we have consistently leveraged new ideas to develop intelligent solutions, using the latest technology, and investing in our infrastructure. That’s how we have been able to maintain a high level of oil production from these three fields over an extended period of time while ensuring profitability,” said Maximilian Fellner, general manager of RWE Dea Egypt.

RWE Dea is developing the Zeit Bay field using extended reach wells drilled from land in addition to the existing offshore wells. Currently, RWE Dea is working in the Zeit Bay field to optimize the gas lift system to increase oil production. The field has produced more than 230 MMbbl of oil to date.

The Ras Fanar field was discovered in 1974. RWE Dea has recovered roughly 114 MMbbl of oil from the field since 1984. The oil is located in geological structures in the Miocene and is being recovered through two unmanned offshore platforms. The platforms are approximately 3.5 km off the coast of the Gulf. The oil reaches land through a pipeline, where it is treated in SUCO facilities before the final treatment at General Petroleum Company process facilities. Each of the platforms is currently being used to operate 13 wells. In 2013, average production from the Ras Fanar field was approximately 4,500 bopd.

RWE Dea plans to drill two additional wells at Ras Fanar and add these to production by 2015.

The production RWE Dea has attained from Ras Budran, the largest of the three fields, amounts to a total of roughly 300 MMbbl of oil to date.

RWE Dea was also granted a 100% share and the operation of the neighboring East Ras Budran Offshore concession. During an initial three-year exploration phase, RWE Dea plans to conduct a 3-D seismic campaign and drill an exploration well. In the event of new discoveries, synergies can be exploited with the existing production facilities in the Ras Budran field to rapidly and efficiently develop the new field.

Providing useful resources, articles and writings on crude oil, other petroleum products, energy and gas. By Providencehelp Worldwide Foundation, online.

Aker Wayfarer bags $465 mn contract from Petrobras to work offshore Brazil

Aker Wayfarer bags $465 mn contract from Petrobras to work offshore Brazil OSLO, Norway Aker Solutions subsidiary Aker Oilfield Services (AKOFS) has won a contract worth $465 million over five years from Petrobras to provide subsea intervention services offshore Brazil

One millionth barrel delivered from Arctic field offshore, Russia

One millionth barrel delivered from Arctic field offshore, Russia SAINT PETERSBURG, Russia The millionth barrel of the new oil, ARCO (Arctic Oil), has been produced at the Prirazlomnoye deposit. The second tanker to deliver the oil to North West Europe

MacGregor bags winch package contract from Nam Cheong

MacGregor bags winch package contract from Nam Cheong HELSINKI, Finland MacGregor, part of Cargotec, has secured a winch package contract from Nam Cheong Limited group, a leading global offshore marine player listed on the Main Board of the Singapore Exchange

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