Blog Archives
Recap: Worldwide Field Development News (Jun 8 – Jun 14, 2012)
| This week the SubseaIQ team added 1 new projects and updated 25 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. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Shell Plans USD 20 bln Investment in Indonesia’s Masela Block
International oil major Shell will invest approximately $20 billion in Masela offshore block, located the Arafura Sea, Indonesia.
According to Reuters, Indonesia’s Chief Economic Minister Hatta Rajasa said yesterday that Shell would gradually invest $20 billion between 2013 and 2019.
In December, 2011, Shell acquired a 30% participating interest in the Masela Block (Abadi project). Inpex is the operator of the project with 60% interest.
The Abadi gas field will be developed in phases and that one FLNG plant will be constructed and utilized for the annual LNG production of 2.5 million ton for the first phase development.
First production from the field is expected to begin in 2018.
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Niko’s Drilling Program in Indonesia Kicks Off
Niko Resources Ltd. has announced start of its exploration drilling program in Indonesia and participation in the company’s twenty-first block in the country.
Niko will partner with Zaratex N.V. in the 5908km2 Lhokseumawe PSC in western Indonesia. The block is located directly adjacent to the giant Arun field (>3.1BBOE) and associated LNG plant. A 3865km2 3D program was acquired on the block and a number of high impact prospects were subsequently identified. Drilling is to commence in the shallow water portion of the block in April with two wells. The Candralila-1 and Ratnadewi-1 prospects will be drilled back to back and if successful will be monetized relatively quickly by accessing the existing extensive local infrastructure.
Niko’s deep water rig, the Diamond Ocean Monarch, is scheduled to arrive in Lhokseumawe in September to drill the Jayarani-1 well. This will be the first well in Niko’s planned program of more than 25 deep water wells in Indonesia. In addition, in the North Ganal PSC in which Niko is a participant, operator Eni will be using the Transocean Seven Seas to drill the Lebah-1 well in the second half of 2012. The Lebah prospect will test the extension of the Jangkrik and Jangkrik-NE discovery trend (>400MMBOE of reserves to date). Eni has already filed a POD for the development of these discoveries and first production is expected in 2015.
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Gulf of Mexico Records Largest Demand for Specialised Offshore Vessels
Infield Systems have made a report on the offshore construction activity demand in order to recognize key regions and gauge supply developments stressing the possibility for activity increase due to the arrival of transcontinental pipelines and the deepwater tie-in of various satellite wells matched to an increased level of subsea installations. Demand is expected to reach its peak during 2015.
North America, particularly the Gulf of Mexico (GoM), has been recording the largest demand level mainly because of the availability of assets.
A considerable growth is expected in Asia and West Africa to 2016, supported by West African projects perceived as one of the key constituents of the emergent deepwater market and the region is seen as a key to a continued utilization of strategic assets. The Asian market features numerous countries including Malaysia, India, China and Indonesia, each reflecting differing dynamics, providing a slightly different opportunity for vessel operators who are keen to secure high utilization.
The global recession has affected all offshore developments and oil companies forcing them to restructure their capital cost commitments together with their offshore expansion plans.
Considerable confidence in Global financial markets has been regained. The declining oil price trend seen in Q2 2011 stabilized during Q3 2011. Greatly depending on whether the major economies return to recession, the global oil demand is anticipated to grow, although at a slower rate than expected.
Infield Systems strongly believe that the level of activity for specialist vessels will increase as E&P ventures expect to rise as a result of exploited reserves.
Vessel operators dealing with harsh and remote environments are most likely to be at the forefront of the expected growth. However, Infield Systems expects the global fleet to become more technologically advanced.
Infield Systems’ Global Perspective Specialist Vessels Market Report To 2016 is dedicated to the construction and construction support vessels that are employed in the development of offshore oil and gas fields. The third edition of this ground breaking report provides an in depth analysis of global and regional trends and the supply and demand dynamics for the period 2007 through to 2016.
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Jun 12, 2012 – BP has commenced production from the deepwater three-field Galapagos development –Isabela, Santiago and Santa Cruz ??? in the Gulf of Mexico. The three fields are connected via a flowline loop to the BP-operated Na Kika host platform, situated about 140 miles (225 kilometers) south of New Orleans in 6,500 feet (1,981 meters) of water. Production is slated to ramp up by the end of the month from the Na Kika facility, which has an output capacity of 130,000 bopd and has been modified to handle additional output from the fields.
Jun 11, 2012 – ATP reported that production at the ATP Titan platform has resumed, which services the company’s Telemark Hub. Production from the ATP Titan, shut-in since May 14, resumed after the operator of the Mars pipeline temporarily shut in the pipeline to allow for the tie-in of a new offsetting platform which has now been completed. Production at the ATP Titan is proceeding as expected and will ramp up over the next few days.
Jun 8, 2012 – Nexus Energy reported that a series of short-term production interruptions have occurred due to an intermittent electrical fault at the Patricia-Baleen gas processing facility. Production at the facility has been suspended, with outage expected to continue until the fault is identified and fixed through an offshore intervention program. The location of the fault has not yet been determined and could be within the Santos or Nexus offshore facilities. A vessel has been mobilized and is scheduled to arrive at the field on June 15, 2012, depending on weather, to commence the inspection and rectification works. The facility receives gas via a pipeline from Bexu???s offshore Longtom field.
Jun 14, 2012 – Bridge Energy has signed a Sale and Purchase Agreement to acquire a 1.55 percent working interest in the producing Boa field from OMV Limited for a consideration of $18.1 million. The interest will add production of 250 bopd to Bridge. The unitized field extends across the UK/Norway median line and lies 88.65 percent in Norway Block 24/6 and 11.35 percent in UK Blocks 9/15a and 9/15b. The field was developed in 2008 as part of the wider Alvheim area development with three subsea development wells tied-back to the Alvheim FPSO operated by Marathon. Oil from Boa is shipped by shuttle tanker while gas is exported into the UK market via the Beryl SAGE system. The field is expected to produce until 2022.
Jun 14, 2012 – Statoil was granted consent to drill on the Troll field using the COSLInnovator (mid-water semisub). The consent applies to drilling, completion and plugback on the field in a water depth of 1,093 feet (333 meters). Statoil’s contract with COSL Drilling Europe for use of the COSLInnovator has a duration of eight years from the start of the contract.
Jun 13, 2012 – Antrim Energy has been granted an extension for the submission of a Field Development Plan for the Fyne field in the UK sector of the North Sea. The UK Department of Energy and Climate Change (DECC) notified the operator that it has extended the deadline for submission of an FDP for the Fyne field from June 2012 to January 2013. Antrim also anticipates DECC approval of the transfer to Antrim of the working interests of the other two partners in the License, Premier Oil UK Limited and First Oil Expro Limited, as well as the transfer of operatorship to Antrim from Premier. Once DECC approves the transfers, Antrim will be operator and hold 100 percent working interest in the Fyne License. The license target date for first production remains in the fourth quarter of 2014. Antrim continues its work on the design of a small SPAR production facility to determine its suitability for Fyne and surrounding fields in the Greater Fyne Area. In parallel with this work, Antrim is seeking joint venture partners to participate in appraisal and development of the Greater Fyne Area discoveries, including West Teal in Block 21/24b (Antrim 100 percent).
Jun 11, 2012 – The Norwegian Parliament has approved development and operation plans for Lundin’s Edvard Grieg field, formerly Luno. This is the first project to progress to the development phase in the oil-rich Utsira High area of the Norwegian North Sea. The Edvard Grieg field is estimated to hold about 186 million barrels of oil equivalent and is scheduled to come on-stream in the fourth quarter of 2015. The Edvard Grieg development plan includes drilling of 15 wells from a jack-up rig, a processing platform on a jacket structure and export pipelines tied-back to existing infrastructure.
Jun 11, 2012 – Total has received approval from the Norwegian Parliament for the development and operation of the Martin Linge, formerly Hild field. The field, which holds estimated recoverable reserves of 189 million boe, will be exploited using a fixed platform with gas to be exported via the UK pipeline system and oil to be processed and stored on a floating storage and offloading vessel for export by shuttle tanker.
Jun 8, 2012 – CGGVeritas will commence a survey acquisition of the Ekofisk field in the Norwegian sector of the North Sea, as part of the multi-year Life-of-Field seismic program for which it was awarded both the seismic data acquisition and processing. Mobilization is set to begin early June 2012, and the shooting period will last about one month. Production commenced from the Ekofisk field in 1971, and Eldfisk came on stream in 1979. ConocoPhillips operates the license, PL 018, with a 35.11% interest; Total holds 39.90%; Eni holds 12.39%; Statoil holds 7.60%; and Petoro holds 5%.
Jun 12, 2012 – BW Offshore has signed a five-year contract with Statoil for the operation of the Peregrino FPSO, with options for an additional 15 years. The unit is operating at the Peregrino oil field offshore Brazil and BW Offshore will take over operations after a transition period of six months. The Peregrino field is located 53 miles (85 kilometers) off the Rio de Janeiro coast in a water depth of 394 feet (120 meters). Statoil operates the field holding a 60% interest; Sinochem holds the remaining 40%.

Continents of the World


