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Coastal Energy Encounters Net Pay Offshore Thailand

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Coastal Energy, an international oil and gas exploration and production company with assets in Thailand announces the successful Miocene discovery in the Bua Ban South A-04 well.

The Bua Ban South A-04 well was drilled to a depth of 3,250 feet TVD on the eastern flank fault block at Bua Ban South, approximately 1.5 miles south of the Bua Ban Main A-11 well. The A-04 well encountered 42 feet of net pay in the Lower Miocene M75 and M100 sands with 29.5% average porosity. The M75 is a newly discovered pay sand in the Lower Miocene. Initial results indicate that this is an extension of the Miocene reservoir which was encountered in the Bua Ban Main A-11. The A-11 well has been producing since September 2010 and is currently producing over 500 bopd. The minimum areal extent of the closure is approximately 550 acres.

Randy Bartley, President & Chief Executive Officer, commented:

“We are greatly encouraged by the successful Miocene results in the A-04 well. We have now discovered oil in three different Miocene intervals between Bua Ban Main and Bua Ban South. This new discovery is very positive for the Miocene remaining potential across the entire basin as well as supporting the potential of recent Oligocene discoveries in the Bua Ban South area. The Bua Ban South A-03ST#1 well has been spudded and will test the Eocene objective. We are currently evaluating locations for Miocene appraisal wells and will begin drilling those following the A-03ST#1.”

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Niko Expands its Indonesian PSCs Portfolio

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Niko Resources Ltd. has been awarded two new Production Sharing Contracts (“PSCs”) in Indonesia. The Company now has interests in 20 Indonesian PSCs including 13 in its West Papua portfolio.

As shown in above, the 8,217 Km2 SE Seram offshore block is adjacent to Niko’s Seram, East Bula and Kumawa blocks and also borders a third party block where the Andalan‐1 well is currently drilling. Niko will have a 100% working interest and operate.

The 6000 Km2 Halmahera II block is adjacent to Niko’s Obi, Halmahera‐Kofiau and Kofiau blocks. Niko will have a 20% working interest.

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Singapore: Dyna-Mac Receives LOIs from Leading FPSO Operators

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Dyna-Mac Holdings Ltd. , a provider of detailed engineering, procurement and construction services (“EPC”) to the offshore oil and gas, marine construction and other industries, has secured orders worth a provisional sum of S$115 million, boosting its order book to a provisional value of S$190 million as at to date.

The Group has signed Letters of Intent (“LOIs”) with leading operators of floating production, storage and offloading vessels (“FPSOs”), including Modec, Bumi Armada Berhad and SBM Offshore, for the fabrication of nine topside modules, nine piperacks and one turret. These offshore structures are for FPSO OSX 3, FPSO D1 and FPSO Quad 204 and the projects are expected to be completed progressively by the end of 2013.

UK, India, Brazil

According to the vessel’s owner, OSX 3 Leasing B.V.,FPSO OSX 3 will be deployed within the Campos Basin, offshore Brazil, on the Waikiki field upon completion.

Bumi Armada’s FPSO D1 will be chartered to India’s State-owned Oil and Natural Gas Corporation Limited (ONGC) and deployed in the D1 field, 200km off the west coast of Mumbai, India.

FPSO Quad 204 will be deployed in the UK North Sea and its turret design is a large internal mounted system with a bogie wheel bearing arrangement, which will moor the FPSO in harsh environmental conditions. The Quad 204 turret has a total weight of 10,000 tonnes and is provided with arrangements for connecting 20 mooring lines and up to 28 flexible risers and umbilicals. The turret topside structures consist of 5 decks and a gantry accommodating the process piping, manifolding, equipment and swivel stack for handling a total fluid throughput of 320,000 barrels per day.

Mr Desmond Lim Tze Jong the Group’s Executive Chairman and CEO, said: “We have been in talks for these projects, amongst others, for some time and we are very pleased to have finally sealed these projects, which boosts our current order book to S$190 million. Our tender book remains healthy and we are confident about our growth outlook given that current market dynamics continue to encourage higher spending on exploration and production of oil. Our optimism is also supported by Dyna-Mac’s strong track record and reliable reputation as a FPSO / FSO topside module specialist among our customers, many with whom we have entrenched working relationships.”

115 million Singapore dollars = 88.27814 million U.S. dollars

190 million Singapore dollars = 145.85084 million U.S. dollars

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Vietnam Approves Full Development Plan for Te Giac Trang Field

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The Company has been informed by the Hoang Long Joint Operating Company, the Operator of Block 16-1 in the Cuu Long Basin offshore Vietnam, that PetroVietnam has relayed the Government of Vietnam’s agreement to the extension period for the Te Giac Den Appraisal area.

The extension period is for 15 months (from 1st January 2011 to 30th April 2012) or 21 months (from 1st January 2011 to 31st October 2012) in the event that the Company elects to drill a well.

Several 3D seismic acquisition options are currently being reviewed and it is anticipated that acquisition of the 150 square kilometre 3D programme will commence in late June to early July 2011.

PetroVietnam has also informed the Company that the Government of Vietnam has approved the Full Development Plan for the Te Giac Trang Field, incorporating the second phase development. Installation activities in the field are ongoing and the H4 jacket for second phase drilling and production has been installed. The project remains on target for Phase I production start in August 2011.

Original Article

Singapore: Sembcorp Signs MOA with Ecospec to Provide Green Solutions to Offshore Industry

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Sembawang Shipyard, a wholly-owned subsidiary of Sembcorp Marine has signed a Memorandum of Agreement (MOA) with Ecospec Global Technology to provide customized and greener environmental solutions to the marine and offshore industry.

In anticipation of the huge demand for green environmental solutions to meet international and local regulations, this MOA will provide both companies with the capability to serve this demand and at the same time play a role in enhancing environmental protection. The objective of this partnership is to tap on the forte of both parties: Sembawang Shipyard’s design and engineering expertise and Ecospec’s technological developing capabilities to provide ship-owners with innovative and effective green solutions for complying with stringent international and local regulations. Ecospec which is an enterprising Singapore-based research and development technological company is a market leader in advance emission reduction and environmental technologies with an international presence and numerous technology patents to its name. Ecospec has developed the world’s first emission abatement technology, CSNOx capable of removing SOx, CO2 and NOx in one system and yet the quality of wash water surpasses all IMO criteria, thus not resulting in secondary pollution. To cater to shipowners’ emission reduction goals, different versions of CSNOx have been developed: cSOx, a system primarily to address the SOx issue but achieve at a carbon neutral position and CNOx, a system to take care of NOx emission and again at a carbon neutral position.

Apart from different versions of CSNOx, Ecospec has also developed other systems to provide green, non-chemical solutions for bio-fouling control with its BioMag system; corrosion control, ElMag system; boiler water treatment, ScaMag.

To showcase the variety of these revolutionary systems already developed or to be developed, a new state-of-the-art demonstration site will be erected in Sembawang Shipyard, in a simulated operating condition.

Both companies are confident that the strong co-operation will lead to their increased competitiveness in the marine and offshore industry.

Signing ceremony: (from left) Sembawang Shipyard’s Executive Director Ms Wong Lee Lin and Managing Director Mr P.K. Ong,

with Ecospec Global Technology’s Managing Director Mr Chew Hwee Hong, and General Manager Ms Tany Tay.

About Sembawang Shipyard

Sembawang Shipyard, a wholly owned subsidiary of Sembcorp Marine, has one of the largest integrated ship repair facilities in Southeast Asia. The shipyard’s world-class reputation is based on the company’s commitment to high quality standards, Health, Safety and Environment standards, timely delivery, superior customer service and innovative solutions.

Besides its proven expertise in the sectors of tankers, bulk carriers and container / cargo vessels, the shipyard is also recognised as a specialist in the niche markets such as passenger ship conversion / upgrading/ repairs, LNG carrier repairs, FPSO conversion, offshore conversion and new building, damage repairs and repair of chemical tankers, liquefied gas carriers and navy ships.

In July 2002, Sembawang Shipyard became the first shipyard in South East Asia to achieve ISO14001 Environmental System Certification by Det Norske Veritas Ltd. The certification is a firm endorsement of the shipyard’s commitment and efforts towards environmental preservation and protection.

About Ecospec Global Technology

Ecospec is a Singapore technological company that researches and develops cost-effective solutions to environmental issues in the marine and onshore industries. Founded in 2001, Ecospec has since established itself as a pioneer and global market leader in advanced emissions abatement and environmental technologies with a worldwide presence and numerous technology patents.

( Original Article )

offshoreenergytoday.com

Singapore: Keppel Enters FPSO Upgrade Contract with Petrofac

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Keppel Shipyard announces it has secured a fast-track project for the upgrading of a FPSO vessel from Petrofac International (UAE) LLC, a subsidiary of Petrofac. The upgrading of the ex-FPSO East Fortune includes refurbishment and life extension works, engineering, fabricating, installing and integrating new topside process modules, upgrading of spread mooring and auxiliary support systems.

Work has commenced in 1Q 2011. Designated for an oil and gas field offshore Peninsular Malaysia, this FPSO facility will be able to handle both oil and gas production.

Keppel O&M, a wholly-owned subsidiary of Keppel Corporation Limited, is a leader in offshore rig design, repair and construction, ship repair and conversion and specialised shipbuilding. Its near market, near customer strategy is bolstered by a global network of 20 yards in the Asia Pacific, Gulf of Mexico, Brazil, the Caspian Sea, Middle East and the North Sea regions. Integrating the experience and expertise of its yards worldwide, the group aims to be the provider of choice and partner for solutions for the offshore and marine industry.

As earlier announced, Keppel has also entered contract with SBM offshore for the construction of new multi-purpose dive support construction vessel.

Mr Nelson Yeo, Managing Director (Marine) of Keppel O&M, said, “These new contracts reflect the confidence of our customers in the capabilities of the Keppel O&M group. We are proud of the solid partnerships built with faithful customers who turn to our yards worldwide for their fleet expansion and upgrading needs.

“Looking ahead, I am confident that we will continue to strengthen the mutual trust and partnership with SBM Offshore and Petrofac with Keppel’s commitment to quality and reliability.”

About Keppel O&M

Keppel O&M, a wholly-owned subsidiary of Keppel Corporation Limited, is a leader in offshore rig design, repair and construction, ship repair and conversion and specialised shipbuilding. Its near market, near customer strategy is bolstered by a global network of 20 yards in the Asia Pacific, Gulf of Mexico, Brazil, the Caspian Sea, Middle East and the North Sea regions. Integrating the experience and expertise of its yards worldwide, the group aims to be the provider of choice and partner for solutions for the offshore and marine industry.

( Original Article )

offshoreenergytoday.com

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