Northern Petroleum Plc announces the joint venture decision to extend current drilling operations on the Guyane Maritime permit in French Guiana.
The GM-ES-3 exploration well is the second well of a four well exploration drilling campaign that commenced in 2012 to follow up the oil discovery at GM-ES-1 in 2011.
The GM-ES-2 well had exploration objectives in the major Cingulata fan system within which the original oil discovery was made in two ages of formation. GM-ES-3 has been planned to deliver exploration information in the subsidiary Priodontes fan system to the north west of the Zaedyus oil discovery.
The GM-ES-3 well intersected a 50 metres gross section of oil stained sands in the lower part of the Bradypus fan which was not a target formation at this location although it is also within the main Cingulata fan system. A 325 metres gross interval of sandstones was encountered in the targeted Priodontes fan, but these were logged with no significant hydrocarbon shows.
It has been decided by the Shell, Total, Tullow Oil and Northpet Investments Limited joint venture that this well provides a suitable location to drill deeper in a plan to penetrate the full post Atlantic rift sequence. The duration of this additional drilling will depend upon results from the formations encountered.
“This information may prove crucial to a fuller understanding of the exploration potential of this very large licensed area. Although this extension may cause a small delay to the further wells in this exploration programme, the earlier the deeper formations are examined, the better the advantages to be gained from its use in the second part of the drilling programme and aid efforts towards discovering more oil,” said NorthernPetroleum in a press release.
The well is now targeted to reach a final depth of 6438 meters subject to operational factors.
Derek Musgrove, Managing Director of Northern stated: “Following the oil discoveries of GM-ES-1 in 2011, the task before us was to explore the licence to ascertain its wider potential. Whilst the sand package in the primary target proved not to have significant hydrocarbons at this location, the oil staining encountered in the Bradypus fan is encouraging of the broader active hydrocarbon systems and potential.
“Northern supports this fuller exploration approach to this well. It is likely to provide Partners with further geological data imperative to gaining further understanding of the complex geology in this area”
To read more on the Joint Venture’s operations in French Guiana click here.
Russia’s Zarubezhneft is getting ready to begin its oil and gas exploration campaign offshore Cuba.
Songa Mecur, the semi-submersible rig to be used for the campaign, is expected to arrive to Trinidad next week, where it will undergo preparations work before setting sail to Cuban waters.
The drilling program is expected to start in November.
Zarubezhneft in 2009 signed production sharing contracts with the communist country’s oil company Cubapetroleo for two offshore blocks located in the Cuban sector of the Gulf of Mexico. In the upcoming exploration campaign the company hopes to unlock hydrocarbons hidden in Cuba’s offshore Block L.
Cuba estimates that its offshore fields hold approximately 20 billion barrels of oil, which could, once unlocked provide a major boost to its economy.
In May this year, the Spanish oil company, Repsol, after a failed attempt to discover oil in a well offshore Cuba, decided to abandon any further offshore drilling plans in the Caribbean nation’s waters.
Earlier this week, Cubapetróleo (Cupet) informed the local media that Catoche 1X well drilling offshore Cuba was unsuccessful. The well was drilled by a consortium established by Malaysia’s Petronas and Russia’s Gazprom. The consortium then released the Scarabeo 9 rig to Venezuela’s PDVSA which will try it’s luck at the Cabo de San Antonio 1x offshore well.
- Petronas, PDVSA Searching for Oil Offshore Cuba (mb50.wordpress.com)
Vantage Drilling, a Cayman Islands exempted offshore drilling contractor, reports a net loss of $10.0 million or ($0.03) per diluted share for the three months ended June 30, 2012 as compared to a net loss of $40.1 million or ($0.14) per diluted share for the three months ended June 30, 2011.
- SMU Report: Permitting delays & new regs stifling offshore drilling (mb50.wordpress.com)
Cuba’s state oil company, Cubapetróleo (Cupet) sent a statement to the country’s media saying that a company from Malaysia, a subsidiary of Petronas, had started drilling operations at the Catoche 1X well offshore Cuba.
The Malaysian company is using the Scarabeo 9, a 6th generation semi submersible drilling rig, for the operation. The Catoche 1X well was spudded on May 24. The rig had been under a contract with the Spanish oil major Repsol, who, following the disappointing results of its recent well, decided to scrap plans for further drilling off the Caribean country’s coast.
Cupet has said that Repsol’s failure to find oil doesn’t mean that the oil isn’t there and has added that the area has “a high potential for discovery of new hydrocarbon reserves, according to geological studies performed.”
Cuba estimates that its offshore fields hold approximately 20 billion barrels of oil, which could, once unlocked provide a major boost to the communist country’s economy.
Furthermore, the Cupet’s announcement says that once the drilling of Catoche 1X is completed the Scarabeo 9 will move to the Cabo de San Antonio 1x well, operated by Venezuela’s PDVSA.
Scarabeo 9, capable of operating in water depths of up to 3,600 meters, was built by Singapore’s Keppel specifically for drilling operations in Cuban waters.
Due to the United States trading embargo against Cuba, Repsol had to come up with a rig with almost no U.S. made parts in it, and according to Reuters, the only U.S. manufactured part on the Scarabeo 9 rig is a blowout preventer, a part that malfunctioned and caused the Deepwater Horizon disaster in the U.S. Gulf of Mexico in 2010.
Trinidad and Tobago’s Ministry of Energy and Energy Affairs (MEEA) has announced that the 2012 Deep Water Competitive Bid Round is tentatively set to open on the 29th of March.
Leading up to the opening of the round, the MEEA will participate in road shows 21st – 24th of February at NAPE 2012 in Houston, 28th – 29th of February at Trinidad and Tobago Energy Trade Mission in the JW Marriot Houston, and the 8th of March at the MEEA delegation to the High Commission for the Republic of Trinidad and Tobago in London where the six selected deep water blocks nominated will be announced.
The six offshore blocks that are to be nominated and offered will come from locations in the East Coast Marine Area and Trinidad and Tobago Deep Atlantic Area (See Concession Map). This acreage offers a mix of water depths, hydrocarbon play-types and production potential.
PGS, in conjunction with the MEEA, has acquired 6,766 km of marine MultiClient 2D data over approximately 43,000 sq. km of the Trinidad and Tobago offshore area.
PGS TOBAGO TROUGH MC2D 2008: 2,448 km of ultra-long offset, dual-sensor GeoStreamer 2D data located across 9 blocks in the West Tobago Sub-basin and Tobago Platform.
PGS DEEPWATER ECMA MC2D 2008: 1,966 km of ultra-long offset, dual-sensor GeoStreamer 2D data located across 26 blocks in the Barbados Accretionary Complex on the Trinidad and Tobago Deep Atlantic Area.
PGS NCMA-4&5 MC2D 2008: 2,352 km of high resolution 2D located across the Patao High across 2 blocks in the West Tobago Sub-basin and Southeast Tobago Sub-basin between the Tobago Platform and the Araya-Tobago metamorphic basement.
- Trinidad expects $3 Bln in energy exploration in 2012 (mb50.wordpress.com)
- Niko Spuds Stalin Well, Offshore Trinidad (mb50.wordpress.com)
By Linda Hutchinson-Jafar
PORT OF SPAIN, Feb 6 (Reuters) – Upstream companies operating in Trinidad and Tobago will invest $3 billion in oil and gas exploration activities this year, Energy Minister Kevin Ramnarine said on Monday.
“2012 exploration drilling will spring to life after low to moderate activity,” he said at the opening session of the Trinidad and Tobago Energy conference.
Five drilling rigs are currently operating in the country while six seismic programs were continuing or starting in 2012.
Trinidad and Tobago is highly dependent on the energy sector, which contributes close to 40 percent of GDP, 40 percent of revenues and is the largest source of foreign direct investment.
Updating the status of negotiations for deep water blocks in the Atlantic, Ramnarine said discussions have concluded with BP Trinidad and Tobago and he expects sign-off soon, while talks were continuing with BG Trinidad and Tobago and BHP Billiton for deep water acreage.
Ramnarine said the country’s continuing decline in oil production was a “most worrying aspect of the energy sector.”
Oil production, which averaged 92,000 barrels per day in 2011, was hampered by a plant shutdown at the state-owned oil company Petrotrin and by maintenance activity by other small oil producers.
“Any gains in government revenue that could be realized as a result of increased oil prices were negated by falling oil production. It’s hurting the national economy and the country at a time when we should be benefitting from high oil prices,” he told the energy conference.
Oil production has declined to 100,000 barrels of oil per day (bpd) from 145,000 bpd over the last 10 years.
Ramnarine said his ministry is preparing for a road show at the end of the month in Houston to meet with representatives from 200 oil and gas companies that have expressed interest in Trinidad and Tobago.
The ministry will also promote the next deep water bid round, which will be launched next month, he said.
- Niko Spuds Stalin Well, Offshore Trinidad (mb50.wordpress.com)
The terminal will be part of an all-encompassing logistics solution to bring natural gas to the country.
This will be BW’s first investment in the Caribbean. BW said it strongly believes in the future of the Dominican energy market and in the opportunity to partner with InterEnergy to bring a more economical and efficient fuel solution to the country’s power generators and other consumers of natural gas.
According to Celso Marranzini, Dominican Government Minister and CEO of the Dominican state’s electric sector holding company, Corporación Dominicana de Empresas Electricas Estatales (CDEEE), “This announcement is one of the most important developments in the country’s energy market in the last decade.” Mr. Marranzini also pointed out that “the project confirms the significant and sustained interest by large international groups like BW and InterEnergy to invest in the Dominican Republic and, more specifically, in its power sector.”
The joint venture leverages on BW’s unparalleled knowledge of the gas transportation and storage business, and InterEnergy’s unique power sector experience and extensive footprint in the Dominican Republic. The combination of the two partners has proven to be critical to secure long term gas contracts from multiple suppliers and lock in the most competitive gas rates in the market.
BW Group CEO Andreas Sohmen-Pao says: “BW is very excited to partner with InterEnergy Holdings and its market leading companies in the power sector to bring a compelling energy solution to such an important and growing market like the Dominican Republic.”
For InterEnergy, the venture also has significant strategic value given the group’s investments in the Dominican power generation and distribution segment, including integrated utility CEPM serving the Punta Cana and Bavaro resort regions, 300MW generation facility CESPM and generation company EGE Haina.
Rolando Gonzalez Bunster, InterEnergy’s Chairman and CEO adds: “This project reinforces our long term commitment to bringing reliable and cost-effective electricity to the Dominican market by continuing to deploy significant capital in the country, and partnering with global industry leaders like BW.”
Total investments are expected to surpass US$350 million, and completion is scheduled for 2014. Anchor clients for the new terminal, in addition to companies related to InterEnergy, include the Martí Petroleum Group. Marti’s Tropigás division is a leading propane and natural gas distribution business in the Dominican Republic with over 3,000 industrial, commercial and residential propane clients and nearly two-thirds of the local natural gas distribution market. Martí Petroleum Group is also one of the potential co-investors in the terminal, alongside other anchor clients that have been approached by BW and InterEnergy.
- Wartsila Scores Power Plant Order from Dominican Republic
- Wartsila Secures Gas Power Plant Order from Dominican Republic
- Gazprom to Open Office in Kyrgyzstan
- EGL Delivers First LNG Cargo to Greece
- GDF SUEZ Closes Agreement with ACEA (Italy)
- USA: Sempra Files with DOE to Export LNG from Cameron Terminal (mb50.wordpress.com)
- USA: Cheniere Plans Corpus Christi LNG Export Terminal (mb50.wordpress.com)