Blog Archives

Worldwide Field Development News Aug 24 – Aug 30, 2012

This week the SubseaIQ team added 4 new projects and updated 13 projects. You can see all the updates made over any time period via the Project Update History search. The latest offshore field development news and activities are listed below for your convenience.

Australia

WHL Energy to Fast-Track 3D Seismic Program

Aug 28, 2012 – Based on “strong industry interest”, WHL is planning to speed up its 3D seismic acquisition program in Exploration Permit VIC/P67 by 12 months. The undeveloped La Bella gas field is located in the Permit and contains an estimated 150 billion cubic feet of contingent resources. Currently, WHL is looking for partners to participate in the data acquisition program which it expects to start in 2Q 2013. The program involves purchasing and assessing 313 square miles of 3D seismic data and is subject to regulatory environmental approvals.

Project Details: La Bella

Mediterranean

Noble Moves Forward with Putting Leviathan 2 to Bed

Aug 28, 2012 – Noble Mediterranean Energy along with external consulting firms and the Israeli Department of Energy and Water have selected an alternate plan for sealing and abandoning drilling operations in Leviathan 2 offshore Israel. Drilling will be carried out by the ENSCO 5006 (DW semisub) for an estimated period of 60 days at a cost of $46.6 million. However, due to the complexity of the plan, deviations to these estimates are likely. Noble, the field operator, does not expect any environmental damage to result from the abundance of water produced from Leviathan drilling operations.
Noble and its partners Ratio, Delek and Avner are covered by “control of well” insurance that will takeover expenses for re-drilling and sealing and abandonment of operations up to $200 million per case. So far, the Leviathan 2 partnership has received $53 million for 100% coverage.

Project Details: Leviathan

BP Discovers Gas in Two Fields in the North El Burg Concession

Aug 27, 2012 – BP Egypt announced the discovery of gas in both the Taurt North and Seth South fields in the North El Burg offshore concession, Nile Delta. Satis-1 and Satis-3 Oligocene deep and Salmon-1 shallow Pleistocene were previous discoveries made by BP in this same concession. The stakeholders in the North El Burg Offshore Concession are the operator BP and its partner IEOC, each holding a 50% interest.
BP Egypt announced the discovery of gas in both the Taurt North and Seth South fields in the North El Burg offshore concession, Nile Delta. Satis-1 and Satis-3 Oligocene deep and Salmon-1 shallow Pleistocene were previous discoveries made by BP in this same concession. The stakeholders in the North El Burg Offshore Concession are the operator BP and its partner IEOC, each holding a 50% interest. The Scarabeo 4 (mid-water semisub) drilled both the Taurt North for Seth South wells for IEOC on behalf of the concession operator BP in water depths of 361 feet (110 meters) and 256 feet (78 meters), respectively. Presence of gas was confirmed by wireline logs, pressure data and fluid samples in one Pleistocene interval in Taurt North and in two Plio-Pleistocene intervals in Seth South. Studies are being conducted to determine options for tying both discoveries to a nearby existing infrastructure.

Project Details: North El Burg

Europe – North Sea

Providence Prepares for Site Survey at Spanish Point

Aug 29, 2012 – Irish explorer Providence Resources confirmed that site survey operations are about to commence on its Spanish Point acreage in the Main Porcupine Basin off the west coast of Ireland. The work is being carried out by Chrysaor on behalf of the Spanish Point partners and is part of the preparations for the drilling of an appraisal well in 2013. The operations are expected to be finished in early September. Providence, currently the operator of the FEL 2/04 license although it recently agreed to transfer this role to Chrysaor, holds a 32% interest while Chrysaor holds 60%.

Project Details: Spanish Point

Antrim Signs Oil Sales Contract for Causeway

Aug 28, 2012 – Antrim Energy has entered into an oil sales contract with BP Oil International. The contract covers Antrim’s 35.5% share of oil produced from the Causeway field in UK Block 211/23d. Other partners in the field are Valiant Causeway Limited (54%) and Valiant Gamma Limited (10.5%). Production at Causeway is expected to begin shortly and will be facilitated using the North Cormorant Platform. The contract also allows Antrim to include its share of oil production from the nearby Fionn field once production is brought online, which is expected in mid-2013.

Project Details: Causeway

TAQA Bratani Explores Contender Prospect

Aug 28, 2012 – TAQA Bratani has announced that exploration drilling operations are underway at Block 211/22a of the UK North Sea. The well is being drilled from the TAQA operated Cormorant North production platform which is located just west of the Contender prospect. The objective of the well is to test Jurassic Brent sandstones at a depth of 16,900 feet. TAQA agreed to cover 100% of the drilling and completion costs of the Contender well and has earned a 60% interest in the block. If it is determined that Contender should be developed, it will be tied into the Cormorant North Platform.

Project Details: Contender

Shell Awards Contract to Framo Engineering for Draugen Field

Aug 27, 2012 – A/S Norske Shell has awarded a $100 million contract to Framo Engineering to supply its Draugen field with a complete subsea, multiphase booster pump system which includes topside power and control, power and control umbilical and the complete subsea pump module and manifold. Framo, a Schlumberger company, will install the system in Norwegian waters at a depth of 8,202 feet (250 meters). The system is designed to facilitate increased oil production in the Draugen field and will be installed in the summer of 2014.

Project Details: Draugen

Utsira High Yields New Discovery for Statoil

Aug 27, 2012 – Statoil has made a discovery in the North Sea’s Utsira High within the Geitungen prospect. Well 16/2-12 intercepted a 115 foot (35 meter) oil column within a high-quality, Jurassic reservoir. Estimated volumes are between 140 and 270 million barrels of recoverable oil equivalents. Basement rock was also found to hold oil. Well 16/2-12, the eighth well in PL265, was drilled by the Ocean Vanguard (mid-water semisub) to a vertical depth of 6,709 feet (2,045 meters).
Geitungen has been defined as its own prospect in the PL265. Although it was drilled 1.86 miles (3 kilometers) north of the Johan Sverdrup discovery, well data indicates communication between the two discoveries is likely.
Statoil is the operator of PL265 and holds a 40% interest in the license. Its partners include Petoro AS with 30%, Det norske oljeselskap ASA with 20% and Lundin Norway AS holding the balance of the license with 10%.

Project Details: Geitungen

Successful Appraisal at Johan Sverdrup

Aug 27, 2012 – Lundin Petroleum’s fifth Johan Sverdrup appraisal well has reached a final depth of 6,758 feet at Production License (PL) 501. Well 16/2-13S was drilled by the Transocean Arctic (mid-water semisub) in 380 feet of water. An 82-foot gross oil column was encountered in Upper and Middle Jurassic sandstone. Coring and logging operations were carried out and confirmed excellent reservoir quality. The well will now be sidetracked in an effort to investigate: the depth to top reservoir, lateral thickness and properties of the Jurassic reservoir and to establish an oil water contact.

Project Details: Johan Sverdrup

Africa – West

Petroci Increases Stake in Gazelle Field

Aug 30, 2012 – Rialto Energy announced that Petroci Holdings, C??te d???Ivoire state-owned oil and gas company, is exercising its option to maximize its interest in the Gazelle Field located offshore in Block CI-202. Petroci will back-in for an additional 11% paying interest making its overall interest 26% (comprising a 16% paying interest). This transaction will reduce Rialto’s interest in the field to 74% (84% paying interest). However, its remaining interest in Block CI-202 – outside of the Gazelle Field – remains at 85% (95% paying interest). In the next six months, Petroci Holdings will reimburse Rialto for an 11% share of an estimated $10 million of historical cost that is associated with the Gazelle Field. From the point of the back-in date, Petroci will pay 16% of any future costs. Rialto has a 25-year permit to produce hydrocarbons from Gazelle.

Project Details: Gazelle

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