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.
- INPEX Orders USD 2 bln FPSO from DSME (South Korea) (mb50.wordpress.com)
- Niko’s Drilling Program in Indonesia Kicks Off (mb50.wordpress.com)
- Lloyd’s Register – Groundbreaking Rules for FLNG (Malaysia) (worldmaritimenews.com)
Dominion said yesterday it is confident that its existing agreement with the Sierra Club and the Maryland Conservation Council permits the company to build a natural gas liquefaction plant proposed for its Cove Point facility in Lusby, Md.
Thomas F. Farrell II, Dominion chairman, president and CEO, said:
“As with any project of this magnitude, we would expect some opposition from various special interest groups. The Sierra Club, which is a party to an agreement restricting activities on portions of the Cove Point property, has previously expressed its opposition to all LNG export facilities. We have reviewed the regulations and agreements governing the site and are confident we can locate, construct and operate a liquefaction plant at Cove Point. The project can be built within the footprint of the existing facility without amending the agreement involving the Sierra Club and the Maryland Conservation Council. Dominion plans to design, build and operate the facility with minimal environmental impacts.”
Farrell said that by adding on to an existing facility, the Cove Point project would have less environmental impact than other liquefaction projects proposed for greenfield sites. He also noted that the Cove Point facility has been cited many times for its environmental stewardship, such as for the restoration of the 190-acre Cove Point freshwater marsh, a Maryland Natural Heritage Area along Chesapeake Bay.
Dominion announced earlier today it is moving forward with its natural gas liquefaction project at Cove Point. At the end of March, Dominion signed binding precedent agreements with two companies, one of which is Sumitomo Corp., a major Japanese corporation with significant global energy operations. Between the two shippers, the planned project capacity of about 750 million cubic feet per day on the inlet and about 4.5 million to 5 million metric tons per annum on the outlet, is fully subscribed. Construction is expected to begin in 2014, with an in-service date in 2017, pending receipt of necessary approvals, negotiating binding terminal service agreements with the shippers and successful completion of engineering studies.
Economic studies filed with Dominion’s federal approval applications anticipate a number of significant benefits from the project, including:
- An average of 750 construction workers would be employed during three-plus years of construction. There will be between 2,700 and 3,400 jobs associated with the project in Calvert County alone at the peak of construction activity. Benefits to the natural gas and other industries would support another 14,600 jobs once the shippers begin natural gas exports.
- About $1 billion annually of additional federal, state and local government revenues would be generated directly and indirectly.
- Owners of the natural gas rights would receive an estimated $9.8 billion in royalties from production of natural gas over the life of the project.
- The natural gas exports would lower the U.S. trade deficit by $2.8 billion to $7.1 billion annually.
- USA: Sierra Club Opposes Cove Point LNG Export Plans (mb50.wordpress.com)
- USA: Sierra Club Opposes Cameron LNG Export Plans (mb50.wordpress.com)
|This week the SubseaIQ team added 15 new projects and updated 33 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.|
- Recap: Worldwide Field Development News Feb 3 – Feb 9, 2012 (mb50.wordpress.com)
- Ichthys: The Largest Subsea Gig for McDermott (Australia) (mb50.wordpress.com)
- Australia: All Ichthys Approvals on Track, INPEX Says (mb50.wordpress.com)
- Recap: Worldwide Field Development News (Jan 27 – Feb 2, 2012) (mb50.wordpress.com)
- Australia: Saipem Lands Ichthys LNG Work (mb50.wordpress.com)
- Recap: Worldwide Field Development Jan 6 – Jan 12, 2012 (mb50.wordpress.com)
- Recap: Worldwide Field Development News (Jan 20 – Jan 26, 2012) (mb50.wordpress.com)
OGX, a largest privately owned oil & gas company in Brazil, today announced that it has identified the presence of hydrocarbons in the Albian and Aptian sections of well 1-OGX-63-SPS in the BM-S-57 block, in the shallow waters of the Santos Basin. OGX holds a 100% working interest in this block.
“This discovery is important for its huge hydrocarbon column and net pay identified in the Albian section, as well as by the quality of the Aptian reservoir and its behavior,” commented Paulo Mendonça, General Executive Officer and Exploration Officer of OGX.
A hydrocarbon column of approximately 1,000 meters was encountered in Albian reservoirs with about 110 meters of net pay. The drilling of the well, which is still in progress, already reached the Aptian section of the reservoir identifying hydrocarbons through a high gas presence that resulted in a kick, which is already controlled.
The OGX-63 well, known as Fortaleza, is still in progress and located in the BM-S-57 block and is situated approximately 102 kilometers off the coast of the state of Rio de Janeiro at a water depth of approximately 155 meters. The Ocean Quest rig initiated drilling activities on October 08, 2011.
- Brazil: OGX Announces Presence of Hydrocarbons in Well OGX-17, Santos Basin
- OGX Discovers Hydrocarbons in BM-C-41 Block, Campos Basin, Offshore Brazil
- OGX Discovers Hydrocarbon Column in Shallow Waters of Santos Basin, Brazil
- Brazil: OGX Announces Presence of Hydrocarbons in Well OGX‐20 in the Campos Basin
- Brazil: OGX Finds Hydrocarbons in BM-C-40 Block, Campos Basin
- Petrobras Discovers Oil at Tucura Well, Campos Basin, Offshore Brazil (mb50.wordpress.com)
- Brazil: Petrobras Discovers Hydrocarbons in Campos Basin (mb50.wordpress.com)
- Anadarko Reports Successful Itaipu Appraisal, Offshore Brazil (mb50.wordpress.com)
- Worldwide: Project Field Development News (mb50.wordpress.com)
The Azul-1 well, the first to penetrate pre-salt objectives in Angolan deepwater, was drilled in water depths of 923 meters and reached a final depth of 5,334 meters. The condition of the well prevented an assessment of flow capacity by a conventional test. This was performed as a mini-Drill Stem Test that enabled the recovery of two good quality oil samples.
The preliminary interpretation of the data indicated a potential flow capacity greater than 3,000 barrels of oil a day. Taking into account these encouraging results, Maersk Oil will further evaluate the results of this discovery and will proceed with exploration work in the block.
Sonangol E.P. is the block Concessionaire. Maersk Oil is operator of Block 23 with a 50% working interest with partners Svenska (30%) and Sonangol P & P (20%).
“We are encouraged by the results of our first pre-salt exploration well in this region, which was also the first ever deep water well targeting pre-salt reservoirs in the Kwanza Basin. The result may be a further step towards our goal of building up a significant business in Angola,” said Lars Nydahl Jorgensen, Head of Exploration at Maersk Oil.
“There is substantial evaluation work ahead of us to determine whether the discovery is enough to invest further to get production going. This will be done by, amongst other things, state of the art reprocessing of seismic data. Fully appraising the discovery will take several years and it is far too early to guess the outcome,” Jorgensen said.
- Angola: Maersk Reports Chissonga-2 Well to Have Encouraging Test Results
- Maersk Oil to Buy Devon Energy’s 15% Interest in Angola Block 16
- Angola: Cobalt Wins Operatorship in Block 20. First Well in 2013
- Statoil Becomes Operator in Two Blocks Offshore Angola
- Eni Strengthens Presence in Angola with New PSC
- Oceaneering Bags Angola Gig from BP (mb50.wordpress.com)
- Angola: Oil Ministry Says US Will be Main Market for LNG Export (mb50.wordpress.com)
- Angola LNG Looks to Sell Liquefied Natural Gas to Non-U.S. Buyers (mb50.wordpress.com)