Daily Archives: May 3, 2012

Recap: Worldwide Field Development News (Apr 27 – May 3, 2012)

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This week the SubseaIQ team added 0 new projects and updated 16 projects. You can see all the updates made over any time period via the Project Update History search. The latest offshore field develoment news and activities are listed below for your convenience.

Europe – North Sea
Aker Solutions Sub-Contracted for EPC Gig at Edvard Grieg
May 3, 2012 – Kvaerner will subcontract Aker Solutions to engineer, procure and construct topsides for the Edvard Grieg platform, formerly the Luno field. Aker Solutions will deliver design engineering and procurement services from the company’s offices in Oslo, Norway and Mumbai, India, with support from Kvaerner. Fabrication and assembly of the 4 500 tonn process module will be conducted by Aker Solutions’ yard in Egersund. Detail engineering will begin instantly, while fabrication is expected to commence in 2013. First production from the field is expected in late 2015, with a forecast gross peak production of approximately 90,000 barrels of oil per day (bopd).
Project Details: Edvard Grieg (Luno, Draupne) Project
Lundin Strikes Again at Johan Sverdrup
May 3, 2012 – Lundin reported that sidetrack 16/2-11A of the appraisal well 16/2-11 has confirmed good quality in Upper and Middle Jurassic reservoir on the Johan Sverdrup field, reported Lundin Petroleum. The well was drilled approximately 2.05 miles (3.3 kilometers) southwest of the discovery well 16/2-6 and 2,493 feet (760 meters) north east of the 16/2-11 appraisal well. The sidetrack well (16/2-11A) encountered a gross reservoir column of approximately 167 feet (51 meters) of which 115 feet (35 meters) was above the oil water contact. The oil water contact was established and in line with other wells in PL501. A comprehensive coring and logging program has been performed which confirmed the good reservoir properties in the appraisal well 16/2-11. The total depth of the sidetrack was 7,759 feet (2,365 meters). The wells will be plugged and abandoned.
Project Details: Johan Sverdrup
TD Reached at Valiant’s Orchid Prospect
May 3, 2012 – Valiant Petroleum announced that the well on the Orchid prospect has reached a total depth of 9,333 feet. The well encountered a Chalk zone of over 280 feet (85 meters) which exhibited oil shows throughout and higher-than-anticipated porosities. The shallower, secondary Tertiary target sands were not present in the well location. Initial interpretation of the wireline log data by Valiant suggests the well has encountered a 50 foot (15 meter) pay zone above a large Chalk interval with low average oil saturations. The partnership has decided to plug and abandon the well pending further work on the data acquired to determine what further appraisal might be warranted.
Project Details: Orchid
Nexen Drills Dry Hole in Stingray
May 3, 2012 – Nexen has reached total depth of 6,895 feet (2,129 meters) in the Stingray exploration well (15/13b-11) in the North Sea. The well is dry and will be plugged and abandoned.
Project Details: Stingray
Det norske Drills Duster at Storebjorn
May 2, 2012 – Det norske has hit a water-bearing reservoir section in the Storebjorn prospect in PL 450. The drill bit encountered high pressure zones in the well, and because of this, drilling operations took longer than expected to reach the reservoir section. The well will be plugged and abandoned.
Project Details: Storebjorn
PSA Grants Statoil Consent to Drill on Tyrihans
May 2, 2012 – The Petroleum Safety Authority Norway has granted consent to use the facility Transocean Searcher (mid-water semisub) for recompletion of well 6407/1A-4-H on the Tyrihans field in Production License 091. The water depth of the site is 879 to 945 feet (268 to 288 meters). The estimated start up is May 16, 2012 and the activity will last up until March 30, 2013.
Project Details: Tyrihans
GE to Supply Cheviot Subsea Equipment
May 1, 2012 – ATP has contracted GE Oil & Gas to supply subsea production equipment, ancillary systems and related services for the Cheviot field in the North Sea. The supplied equipment, including wellheads, subsea Xmas trees and a subsea control system will be used in conjunction with ATP’s Octabuoy FPS that is currently being constructed. As part of the contract, GE will also provide system engineering and design, procurement and on-site testing services. Product shipments will begin in February 2013 with installation scheduled for later that year. Commercial operations are set to begin in 2014.
Project Details: Cheviot
Bacchus Comes Online
May 1, 2012 – Apache has commenced production from the first development well on the Bacchus field, located in Block 22/06a in the UK sector of the North Sea. Initial production rates over the first five days were approximately 6,000 gross bopd. When the full field development is completed and online, the company will be able to provide reliable long-term sustainable production estimates. Furthermore, the company has commenced development drilling on the second production well on the field and expects for it to come online in 3Q 2012.
Project Details: Forties
MidEast – Persian Gulf
ATP Spuds Shimshon Well
Apr 30, 2012 – ATP Oil & Gas Corporation and its wholly-owned subsidiary ATP East Med B.V. have initiated drilling at the Shimshon well in the Levant Basin offshore Israel using the ENSCO 5006 (DW semisub). The Shimshon well resides in a water depth of 3,622 feet (1,104 meters) with a target depth of 14,764 feet (4,500 meters). After spud, several protective casing strings will be set until the well has penetrated the salt layer, said the operator. A full set of electric logs will be run at total depth to assist in evaluation of target reservoirs. ATP expects to announce results during the third quarter of 2012.
S. America – Other & Carib.
McDermott Wins Brownfield Contract for North Coast Marine Area Project
May 1, 2012 – McDermott International received a brownfield contract to provide two new permanent living quarter modules, including Front End Engineering Design (FEED), design engineering, construction, transportation and installation for BG’s North Coast Marine Area project. The two modules comprise a 640-ton, 60-man quarters module for the Hibiscus platform and a 915-ton, 62-man quarters module for the Poinsettia platform. The Hibiscus module will also accommodate new electrical power generation and distribution, the design of which is being performed by the McDermott engineering office in Houston. The Poinsettia and Hibiscus fields are located in the North Coast Marine Area (“NCMA”) in waters up to 530 feet (162 meters), offshore Trinidad.
Project Details: North Coast Marine Area (NCMA)
BPZ Energy, Pacific Rubiales Form JV
Apr 27, 2012 – BPZ Energy has formed an unincorporated joint venture with Pacific Rubiales to explore and develop Block Z-1 offshore Peru. The agreement calls for Pacific Rubiales to pay $150 million in cash and is subject to a commitment of $185 million for BPZ’s share of capital and exploratory expenditures in Z-1, for their assumption of a 49 percent participating interest in Block Z-1. The block spans 555,000 acres and holds two producing fields, Corvina and Albacora, which averaged 3,880 bopd in the first quarter of 2012. BPZ Energy said it also contains several prospects and leads in water depths ranging from 200 to 1,000 feet. Under the terms of the agreement, BPZ will remain as operator, holding a 51% participating interest, while Pacific Rubiales assumes a 49% participating interest.
Project Details: Corvina
N. America – US GOM
Technip to Deliver Spar for Mad Dog Phase 2
Apr 30, 2012 – Technip has received a FEED contract from BP for the Mad Dog phase two project. The contract covers the design of a spar hull and mooring systems for the development, located near Green Canyon Block 825 in the Gulf of Mexico. This first award comes under the framework of the 10-year spar platform master services agreement signed in 2011. The Mad Dog Phase 2 Spar will be located near the first Mad Dog Spar delivered by Technip for BP in 2004, and installed on Green Canyon 782. Detailed engineering for the new spar is scheduled to start during the second half of 2012.
Project Details: Mad Dog

Another Hint Of Bad Jobs News…

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Joe Weisenthal

From this months Challenger Layoffs Report:

The pace of downsizing remained virtually unchanged in April, as U.S.-based employers announced planned job cuts totaling 40,559 during the month. That is a 7.1 percent increase from 37,880 job cuts announced in March, according to the latest job-cut report released Thursday by global outplacement firm Challenger, Gray & Christmas, Inc.
April job cuts were up 11.2 percent from the same month a year ago, when employers announced 36,490 planned cuts, the lowest monthly total recorded in 2011.

That 11.2% jump is a turnaround from last month’s fall of 8%.

What’s weird is how different this number is than initial jobless claims, which have been steadily 5-10% below a year ago levels.

Read more: BI

USA: Superior Receives Offshore Vessel Simulator

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Superior Energy Services of Houston, Texas, took delivery of one of the most advanced maritime training simulators ever developed, in April 2012.

The next-generation simulator from Kongsberg Maritime will be used to provide integrated, real-time training for Superior’s offshore marine personnel at its new facility in Anchorage, Alaska. Under the terms of the contract, signed September 2011, Kongsberg Maritime supplied Superior Energy Marine Technical Services with a full mission trainer in support of critical operations including ship bridge maneuvering and navigation, anchor handling, ROV operations, crane operations, process control, containment, and controlled pumping and flaring of hydrocarbons.

The system supports the full spectrum of offshore Simultaneous Operations (SIMOPS) activities in support of developing best practices for both surface and sub-sea marine practices – all conducted in real time and in the safety of a simulated environment. The simulator features two full offshore service vessel bridges, with 360 degree field of view, an offshore crane simulator, supplied by KONGSBERG company, GlobalSim, a DeepWorks ROV simulator, supplied to KONGSBERG by Fugro Subsea Services Ltd and a separate Process Simulator, for operator training and control system checkout in addition to multiphase flow simulation, supplied by Kongsberg Oil & Gas Technologies.

Superior’s working relationship with Shell Offshore was a primary motivator in establishing this state-of-the-art facility. Superior is committed to achieving a safe work environment and these core objectives were incorporated in the system design: “At Superior Energy Services, we believe in ensuring our people are as prepared and properly trained as possible. It makes sense from a safety perspective, from an environmental perspective and from a business perspective – it is simply the right thing to do,” said Captain Scott Powell.

“Partnering with Kongsberg Maritime provided a depth of engineering capability that allowed us to mirror a physical model-based simulation solution. This is the closest we can come to creating realistic scenarios without facing these circumstances first hand. Our people will be the best prepared in the industry and will have full confidence in the critical skills they will learn with this state-of-the-art simulator. This multi-team training capability will have a net positive effect on our preparedness and our commitment to health, safety and the environment,” continues Powell.

The KONGSBERG Offshore Vessel Simulator allows companies to train employees for the highly technical and often hazardous operations they will encounter in the offshore environment. Kongsberg Maritime simulators are designed to provide realistic scenarios for a wide variety of environmental applications.

Source

Lanny Davis Covers for Holder and Murders in Fast and Furious

Democrats are getting desperate when it comes to Operation Fast and Furious. They will do anything to deflect from the fact that people using the guns that Attorney General Eric Holder’s Department of Justice “walked” across the border to murder Border Patrol Agent Brian Terry and more than three hundred Mexicans.

Read more: Lanny Davis Covers for Holder and Murders in Fast and Furious | U.S. Open Borders.

Lift-boat crash holds up Mustang production

http://www.upstreamonline.com/migration_catalog/article1196077.ece/ALTERNATES/article_main/mustang+818-l+field

03 May 2012 10:40 GMT
Bill Lehane

Preparations to bring the Mustang Island 818-L field back into production have been thrown off course after a lift-boat due to work on the project crashed during another job.

Silvermere Energy chief executive Andy Morrison admitted the delay was “unfortunate and frustrating” for the US-focused junior, which is partnered with operator Dominion Production in the development.

Morrison stressed the incident did not directly impact the AIM-listed outfit or its Kleberg County partner financially, since the boat was not on contract to Dominion at the time of the accident.

Last Saturday, the lift-boat struck an unmarked obstruction while en route to Galveston to take on supplies before heading on to Corpus Christi to commence the Mustang Island 818 pile-driving.

The collision tore a three-foot hole in the vessel’s hull, causing it to take on large amounts of water and lose engine power.

It is thought the boat will now be out of action for at least two months.

The incident is now under investigation by the US Coast Guard, with the vessel having been towed to Cameron, Louisiana for inspection.

Laredo, the contractor to Dominion, is attempting to source an alternative vessel.

The field’s I-1 well, which was acquired by Silvermere Energy from Core Oil & Gas, previously enjoyed 15 years of production between 1980 and 1995 before being shut down for economic reasons.

The junior had initially hoped to restart production by the end of last year.

Source

Utah Expands Legal Tender in the State

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Posted by Doug Tjaden

In 2011, Utah was the first state in over 80 years to pass a law making gold and silver coin legal tender.  Its passage sparked articles in the New York Times, The Los Angeles Times, The Washington Post and a host of major internet news sources.  After decades of obscurity, Utah’s historic measure put sound money back on the map.  Not satisfied to rest on their laurels, Utah passed a companion bill in the 2012 session, and it was signed by Governor Herbert.

The bill clarifies several tax measures and more importantly, expands the available specie to include gold and silver coin approved by the state.

Gold or silver coin or bullion, other than gold or silver coin that is issued by the United States, is considered to be specie legal tender and is legal tender in the state if:

(a) a court of competent jurisdiction issues a final, unappealable judgment or order determining that the state may recognize the gold or silver coin or bullion, other than gold or silver coin that is issued by the United States, as legal tender in the state; or
(b) congress enacts legislation that: (i) expressly provides that the gold or silver coin or bullion, other than gold or silver coin that is issued by the United States, is legal tender in the state; or (ii) expressly allows the state to recognize the gold or silver coin or bullion, other than gold or silver coin that is issued by the United States, as legal tender in the state.

By allowing additional specie to be used as legal tender, the Utah legislature has freed its citizens from potential supply constraints imposed by the use of only United States minted gold and silver coin.  More importantly, the people of the state of Utah now define what specie is considered constitutional tender, further distancing themselves from potential control of their competing currency by Washington D.C.

Many who subscribe to Austrian economic theory applaud Utah’s leadership. They clearly see a sovereign debt crisis looming on the not-too-distant horizon and  understand the importance of having in place a hard currency system to fall back on.  Choice and competition in currency has never been more important in this nation.  Well done Utah.  Keep up the great work.  The rest of the nation may soon thank you.

Doug Tjaden is in Strategic Business Development at SilverSaver.com by Mass Metal LLC. He is an avid proponent of helping states re-institute sound money through education and networking. Doug is also an author, pastor and father of five and is a speaker on economics, politics and religion. He is passionate about helping people understand history, and how it can help us identify trends in place which will soon affect our lives.

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