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Saturday, 27 September 2014

Total’s 'Disappointment' with Angola LNG adds to output gap

Angola LNG, a $10 billion LNG plant halted in April due to a leak, has proved to be a disappointment for Total.


“The real concern is that we are at least one year late and even much more than that in terms of start of production,” Yves-Louis Darricarrere, head of upstream, said in an interview.


Angola LNG, which produces the super-chilled fuel for spot deliveries to destinations from South Korea to Brazil, is expected to restart in the middle of next year. The plant has experienced halts since production started last June after an 18 month delay caused by several fires and accidents.


Total, with a 13.6% stake, is “missing” about 25,000 boepd in natural gas due to the halt, Darricarrere said. “It’s a disappointment, but at the same time for us it’s marginal.” The French company has sent experts to the site, he said.


The halt adds to output gaps this year for Total at Kashagan in Kazakhstan, where leaky pipelines must be replaced, and the loss of a concession in Abu Dhabi. The company targets increased production over the coming years, a goal that will be helped by the start of production at the Clov field off Angola in June, 2014.


Angola LNG was running at about 50% of planned capacity before the latest incident because the composition of the plant’s associated gas supply required additional equipment, Chevron, the operator and largest shareholder, has said.


The April incident took place during the commissioning and testing phase as part of a ramp up to full LNG production.


Chevron holds 36.4% of the project, with Sonangol EP owning 22.8%. Total, BP and Eni each hold 13.6%, according to Angola LNG’s website.


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

Maersk Drilling names fourth ultra-deepwater drillship

GEOJE-SI, South Korea -- Maersk Drilling’s fourth ultra-deepwater drillship was named in a ceremony at the Samsung Heavy Industries (SHI) shipyard in Geoje-Si, South Korea, on Sept. 25. Lene Berg, wife of Gregers Kudsk, V.P. in Maersk Drilling, had the honor of naming the drillship Maersk Voyager.


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Friday, 26 September 2014

DNV GL unveils recommended practice for jacking systems

HØVIK, Norway -- A joint industry project (JIP) on jacking system maintenance and inspection has resulted in a new DNV GL Recommended Practice (RP). This provides guidance to ensure the correct and safe functioning of rack and pinion style jacking systems. The objective is to reduce the risk of gear failure, resulting in lower costs and higher availability throughout the asset’s life time.


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BHP Billiton backs FLNG plan off Australia with Exxon

MELBOURNE, Australia (Bloomberg) -- BHP Billiton Ltd., Australia’s biggest oil and gas producer, backed plans to develop what may be the world’s largest floating LNG project, saying it’s “fully aligned” with partner Exxon Mobil Corp.


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Statoil declares Arctic gas find non-commercial

STAVANGER, Norway -- Operator Statoil has together with PL713 partners made a gas discovery in the Pingvin prospect in the Barents Sea. The discovery is a play opener in an unexplored area of the Barents Sea northwest of Johan Castberg. Discovery well 7319/12-1, drilled by the drilling rig Transocean Spitsbergen, proved a 15 m gas column in the well path. Statoil estimates the volumes in Pingvin to be in the range of 30-120 MMbbl of recoverable oil equivalent.


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BHP Billiton, Pemex sign MOU to exchange deepwater expertise

BHP Billiton, Pemex sign MOU to exchange technical knowledge HOUSTON On signing the MOU, BHP Billiton Petroleum and Potash President, Tim Cutt said “We see considerable opportunity in Mexico following the recent economic reforms, and we are excited about the


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Polarcus nets seismic acquisition projects offshore Australia

Polarcus nets seismic acquisition projects offshore Australia DUBAI Polarcus has received contract awards, from two undisclosed clients, for two 3D marine seismic acquisition projects offshore Australia. The combined program, which is subject to the execution of service contracts, will commence


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Thursday, 25 September 2014

Chevron sells interests in Chad, Cameroon

Chevron Corporation' s subsidiary, Chevron Global Energy Inc., has sold its 25% non-operated interest in a producing oil concession in southern Chad and the related export pipeline interests to the Republic of Chad for approximately $1.3 billion. The sale closed June 13.


"This sale demonstrates our focus on strategically managing our portfolio to maximize the value of our global upstream businesses," said George Kirkland, vice chairman of Chevron Corporation.


"These assets have played a significant role for Chevron in Africa for the past 14 years," said Ali Moshiri, president of Chevron Africa and Latin America Exploration and Production Company. "They have been a profitable part of our portfolio for many years. The combination of current market conditions and the size of the assets relative to our portfolio make this an ideal time for a divestiture."


The transaction includes the sale of the Chevron subsidiary' s interests in seven fields in Chad' s Doba basin, which in 2013 had an average net daily crude oil production of about 18,000 bbl. The sale also includes the Chevron subsidiary' s approximate 21% non-operated interest in a pipeline system that transports crude oil to the coast of Cameroon as well as associated marine facilities.


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

Petrobras confirms new well in Sergipe-Alagoas basin

RIO DE JANEIRO -- Petrobras has identified the presence of gas while drilling extension well 3-BRSA-1022-SES (3-SES-181). The well is located in the discovery evaluation plan area of Poço Verde in concession BM-SEAL-4 in the ultra-deep waters of the Sergipe-Alagoas basin.


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Lundin Petroleum acquires interest in PM328, offshore Malaysia

Lundin Petroleum acquires interest in PM328, offshore Malaysia STOCKHLM, Sweden PM328 is located offshore Malaysia, north east of PM307 which is also operated by Lundin Malaysia. PM328 covers an area of 5,600 sq km. The initial PSC term is for


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Petronas near to completion of world’s first floating LNG facility in South Korea

Petronas near to completion of world’s first floating LNG facility in South Korea KUALA LUMPUR, Malaysia Petronas on Sept.22, 2014 commenced the lifting of the first topside module for its floating liquefied natural gas (PFLNG1) facility at the Quayside of


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Wednesday, 24 September 2014

BP can’t claw back Macondo damage overpayments, judge says

NEW ORLEANS (Bloomberg) -- BP Plc can’t recover hundreds of millions of dollars it claims to have overpaid some victims for economic losses from the 2010 Gulf of Mexico oil spill, a U.S. judge said.


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Macondo victims to ask judge for immediate medical payments

NEW ORLEANS (Bloomberg) -- All oil-spill cleanup workers injured during BP Plc’s 2010 Gulf of Mexico disaster should get paid medical compensation now instead of being forced to sue for help, victims’ lawyers will tell a U.S. judge at a hearing that began Sept. 24 in New Orleans.


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Statoil increases production with new compressor on Kvitebjorn field

STAVANGER, Norway -- The new compressor in operation on the Kvitebjorn field in the North Sea will increase production there by 220 MMboe and extend the field’s lifetime by eight years, Statoil says.


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Total acquires stake in Faroe Petroleum’s Glenlivet field

ABERDEEN, United Kingdom -- Faroe Petroleum has sold its 10% interest in the undeveloped West of Shetland Glenlivet gas field to Total E&P UK.


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Polarcus Adira mobilizes to U.S. Gulf of Mexico

DUBAI -- Polarcus Adira is in transit from Las Palmas to the U.S. Gulf of Mexico to commence a six-month charter for TGS. The purpose-built 3D seismic vessel is equipped with specialized, advanced maritime technology to minimize the environmental footprint of the operation and the vessel continues to set new standards for the industry, having been awarded the highest achievable Triple-E environmental and energy efficiency rating by DNV-GL.


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CGX Energy to start seismic survey in Demerara Block off Guyana

CGX Energy to start seismic survey in Demerara Block off Guyana TORONTO, Canada CGX Energy has entered into a seismic contract with Prospector PTE. ("Prospector") to conduct a 3,116.74 sq km 3D seismic survey on the Company' s 100% owned Demerara


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Tuesday, 23 September 2014

Billionaire Fredriksen boosts Seadrill stake after shares drop

LONDON (Bloomberg) -- Billionaire John Fredriksen boosted his stake in rig company Seadrill Ltd. after the stock dropped on a market downturn, a longtime adviser left, and amid uncertainty over a Russian deal. Fredriksen’s Hemen Holding Ltd. bought 2 million shares in the world’s biggest offshore-rig company by market value Sept. 22, boosting its stake to 115.1 million shares, or 23.34% of the total, Seadrill said in a statement.


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ConocoPhillips partner FAR starts effort to sell Kenya stake

FAR Ltd., exploring off Senegal with ConocoPhillips and Cairn Energy Plc, is looking for a partner in Kenya as drilling picks up in the region.


FAR started a process in London last week and Australia this week giving companies access to its data, Managing Director Cath Norman said today, June 13, in a phone interview from Melbourne. The explorer may reduce its stake in one block in Kenya to as little as 25% from 60% and complete a deal by the end of the third quarter at the earliest, she said.


“There’s a fair bit of interest offshore Kenya at the moment,” she said. “In Kenya, the prize is oil.”


Drilling


The Australian company is moving ahead with plans in Kenya, Senegal and Guinea Bissau as explorers including Woodside Petroleum Ltd. look at Africa. The industry is watching the Senegal drilling closely after disappointing exploration results in Africa in recent months, Norman said.


“Most of the junior end of the market has not actually come up with the goods,” she said. “With a little bit of success we’d have more interest flooding back into the sector.”


FAR rose 5.4% today to 3.9 cents in Sydney trading, valuing the company at A$105 million ($99 million).


In Senegal, FAR expects drilling to resume in about two weeks after a delay caused by rig maintenance and to complete the well in about a month, according to Norman.


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

Well-Centric unveils plan for growth, appoints new CEO

ABERDEEN, United Kingdom -- Well-Centric Oilfield Services is looking to significantly expand its footprint in the oil and gas sector with an ambitious North Sea and international strategy to deliver 30% growth year on year. The company, which is projecting a turnover of $9 million (£5.5 million) this year, is looking to maintain last year’s growth rate in the North Sea and increase its turnover to $19.7 million (£12 million) by 2017-18.


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Monday, 22 September 2014

Polarcus completes acquisition of Porcupine basin 3D multi-client project

DUBAI -- Polarcus has completed acquisition of a major new 3D broadband multi-client project in the southern Porcupine basin, offshore southwest Ireland. The survey, undertaken in partnership with ION GeoVentures, saw the technologically-advanced 3D seismic vessel Polarcus Amani tow an ultra-wide 1,350 m receiver array comprising ten 2Hz solid digital streamers of 8,100 m length.


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Polarcus awarded 3D seismic acquisition project in US, GoM

Polarcus awarded 3D seismic acquisition project in US, GoM DUBAI Polarcus has signed a Letter of Award (LOA) with TGS NOPEC Geophysical Company (TGS) for the charter of a Polarcus A Class 3D seismic vessel offshore United States, Gulf of


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Polarcus wins 3D seismic acquisition offshore West Africa

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


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Sunday, 21 September 2014

Statoil, Rosneft discovers gas in Arctic well in Barents Sea

Statoil, Rosneft discovers gas in Arctic well in Barents Sea BY MIKAEL HOLTER STAVANGER, Norway (Bloomberg) Statoil found natural gas offshore of Norway with Rosneft, the state controlled oil company targeted by international sanctions. “The well has proved gas in


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Woodside to farm-in to Chariot's Rabat deep permits offshore Morocco

Woodside advises that it has finalised an agreement with Chariot Oil & Gas to farm-in to the prospective Doukkala Basin offshore north western Morocco.


Under the agreement Woodside acquires an initial 25% participating interest in the Rabat Deep Offshore permits I-VI. The agreement includes an option to acquire an additional 25% and operatorship in these permits for a capped well carry obligation. The agreement is also subject to required government approvals.


These undrilled permits are 10,782 sq km in area and water depths range from 150 to 3600 m.


Woodside CEO Peter Coleman said the farm-in provided an opportunity to secure a large acreage footprint in an emerging petroleum province that is prospective for both oil and gas.


“Exploration in this basin aligns with our strategy to secure new international growth opportunities in frontier and emerging basins characterised by materiality and quality,” said Mr Coleman.


“This opportunity has been supported by Woodside’s disciplined approach to studying regional petroleum systems, including the Atlantic margins, and is a good fit with our core capabilities in deepwater exploration and production.”


The Rabat Deep permits complement Woodside’s acreage position in the nearby Canary Islands and are a further demonstration of continued efforts to build a global exploration portfolio.


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

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