Month: July 2017

Subsea technology from Sonardyne that tracks the position of divers and remotely operated vehicles (ROVs) as they carry out surveys and inspections, has been selected by Vietnam-based Thien Nam Positioning JSC to supports its offshore activities in the region.

The Mini-Ranger 2 Ultra-Short BaseLine (USBL) acoustic tracking system, the first to be delivered into Vietnam, was supplied through Sonardyne’s subsidiary in Singapore. It has the capability to simultaneously and precisely track up to 10 underwater mobile targets and benefits from the same Wideband acoustic signal technology found in Sonardyne’s deep water USBL product family, but for significantly less cost.

Thien Nam Positioning conducts a wide range of geophysical surveys, pipeline and flowline installations, and maintenance operations in support of the country’s offshore oil and gas industry. Their divers and ROVs often work from vessels-of-opportunity, so survey equipment needs to be easy to install and easy to move from between vessels without affecting performance.

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Andrew McBarnet reports on a case of innovative thinking that promises major savings in the marinie seismic business. Read the full article here.

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ASV Global has participated in LADC-GEMM consortium’s summer expedition to the Gulf of Mexico to monitor marine mammals near the Deepwater Horizon oil spill site.

ASV Global provided a C-Worker 5 autonomous surface vehicle as a passive acoustic monitoring (PAM) survey platform during this year’s cruise. The C-Worker 5 is a 5-meter long aluminum hull vessel with a 57 HP direct drive diesel engine. The payload outfit on this cruise was a 200m passive acoustic monitoring line array kit provided by Seiche, carried and deployed from ASV Global’s remote controlled scientific winch.

C-Worker 5 was controlled and monitored from support vessel R/V Pelican by ASV Global’s expert team of operators mobilized from Broussard, Louisiana.

On this cruise, the vessel consistently collected PAM data, comprising of whale and dolphin vocalizations and their source location. C-Worker 5 completed 1100 kilometers of transects and comparison lines over total of 8 days traveling at speeds of between 4.5 and 5.5 knots.

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An oil tanker and a cargo ship have collided in the English Channel.

The collision happened 15 miles north east of Dover at 02:00 BST, the coastguard said.

The 183m (600ft) tanker Seafrontier, which is loaded with gasoline, has a hole above the waterline and damage to the superstructure, the RNLI said.

The 225m (740ft) Huayang Endeavour was also damaged. None of the crew on board either ship was injured.

“Although both vessels have been damaged, there is no water ingress and no pollution,” a coastguard spokesman said.

Huayang Endeavour was en route to Lagos in Nigeria and Seafrontier was travelling to Puerto Barrios in Guatemala. The vessels have Chinese and Indian crews on board, the UK coastguard said.

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The plan by the Nigerian National Petroleum Corporation to grow the nation’s crude oil reserves to 40 billion barrels by the year 2020 received a major boost on Thursday with the execution of a tripartite agreement in Abuja.

The agreement was between the NNPC/FIRST Exploration & Production Joint Venture and Schlumberger for the development of the Anyalu and Madu fields in the Niger Delta under Oil Mining Licence, OML 83 and OML 85, offshore Nigeria.

Under the agreement, Schlumberger would provide the over $700 million development cost of the Anyala and Madu fields which would generate 193 million barrels of crude oil into the current reserves of 37.2billion barrels and an additional 800 billion cubic feet of gas into the nation’s proven gas reserves which currently stand at 197 Trillion Cubic feet of gas .

In terms of daily production, the fields will yield 50, 000 barrels of crude oil per day and 120 million standard cubic feet of gas per day by early 2019.

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VAALCO Energy, Inc. announced that it had received notification on June 28, 2017, from the New York Stock Exchange (“NYSE”) that the price of the Company’s common stock has fallen below the NYSE’s continued listing standard.  The NYSE requires that the average closing price of a listed company’s common stock not be less than $1.00 per share for a period of over 30 consecutive trading days.

Under NYSE rules, the Company can avoid delisting if, during the six month period following receipt of the NYSE notice and on the last trading day of any calendar month, the Company’s common stock price per share and 30 trading-day average share price is at least $1.00.  During this period, the Company’s common stock will continue to be traded on the NYSE, subject to compliance with other continued listing requirements.

The NYSE notification does not affect the Company’s business operations or its SEC reporting requirements and does not conflict with or cause an event of default under any of the Company’s material debt or other agreements.

The Company will be notifying the NYSE of its intent to regain compliance with the NYSE continued listing standards within the six-month period.  The Company is committed to working with the NYSE to regain compliance and maintain the listing of its common stock.

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Schlumberger and Seitel announced a strategic multiclient alliance to reimage and acquire new geophysical data in key areas across onshore Mexico.

Approximately 25,000 kilometers of 2D seismic data from Mexico’s National Hydrocarbons Commission (CNH) data library will be reimaged covering lease blocks in the current Bid Round 2, as well as future onshore lease round blocks. In addition, new multiclient data acquisition projects are already in development.

The newly reprocessed seismic data and any new acquisition projects will provide subsurface images of proven oil and gas reservoirs in the Sabina-Burgos, Tampico-Misantla, Veracruz and Sureste areas, as well as the under-explored Chihuahua province, and other strategic areas. The reimaging program covers both conventional and unconventional onshore lease blocks in the areas.

‘The areas for reimaging were strategically selected to deliver regional analysis of the prospective plays across onshore Mexico with both organizations using high-end processing workflows,’ said Maurice Nessim, president, WesternGeco, Schlumberger. ‘This alliance capitalizes on each organization’s strong commitment to Mexico exploration over some of the largest onshore Mexico fields, including the onshore Cuenca del Sureste Basin, which shares many hydrocarbon system elements with the prolific Pilar Reforma-Akal in the shallow water Campeche area.’

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