Searcher Seismic: Announces Airborne Geophysical Survey over the Gulf of Papua

Searcher Seismic is pleased to announce a regional multi-client airborne gravity, gravity-gradiometry and magnetics survey over the near-shore areas, Gulf of Papua.

The Roho Airborne Gravity, Gravity-Gradiometry and Magnetics Survey covers approximately 60,700 square kilometres (~51,000 line km equivalent) along the southern coast of PNG. The survey follows several marine seismic and geochemical projects recently completed by Searcher aimed at assessing the hydrocarbon potential of the Gulf of Papua and adjacent Coral Sea areas, offshore PNG.

Rachel Masters, Global Sales Manager for Searcher Seismic, notes that “PNG has become an area of increasing industry interest in recent years and successful exploration and development projects onshore have ignited interest in the potential prospectivity offshore, which is largely unexplored.”

The Roho Survey is designed to bridge the gap between the onshore areas of PNG where many wells have been drilled, providing good geological control points, and the offshore regions in the Gulf of Papua and Coral Sea, where a substantial database of new, high quality seismic data is now available, but well data is sparse or absent all together.

“Much of the area covered by the Roho Survey will comprise shallow water transition zone environments where seismic operations are difficult and expensive. Roho will provide companies with a cost-effective tool to assess these areas and effectively focus future exploration efforts” Ms Masters added.

Mobilisation is underway and acquisition will commence in late November 2017. The survey is being acquired by CGG Multi-Physics, using a Basler BT-67 twin turbine fixed wing aircraft.

Final data will be available early 2018 and a regional interpretation of the new data will also be completed by June 2018.

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CGG: Delivers final PSDM products for Cairenn MC survey

Just ahead of the Atlantic Ireland conference CGG delivers the final PSDM products for Cairenn MC survey in Ireland’s Porcupine Basin.

CGG announces completion of the Pre-Stack Depth Migration (PSDM) of its Cairenn multi-client survey in the Porcupine Basin, west of Ireland. Cairenn is the first of a series of multi-client surveys that CGG has recently been acquiring in the area. PSDM products for its Galway survey will be delivered before the end of the year.

The data sets from both surveys have been processed through an advanced velocity modeling and depth imaging sequence, including multi-layer tomography and full-waveform inversion, to deliver outstanding results, with exceptional clarity and deep imaging quality, from the Triassic/Jurassic fault blocks, through the Cretaceous section and up to the Cenozoic reservoirs. Fast-track results from additional surveys in the area acquired in 2017 have already been delivered, with final PSDM products due in the second quarter of 2018.

Jean-Georges Malcor, CEO, CGG, said: “These new data sets deliver high-quality coverage west of Ireland, enhancing industry understanding and mapping of the multiple hydrocarbon plays being chased in this promising region. They reflect CGG’s commitment to invest in innovative imaging products to support the successful development of oil and gas resources in the Atlantic Margins.”

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Boskalis: VBMS awarded Borssele Beta cabling contract

Royal Boskalis Westminster N.V. (Boskalis) announces that its subsidiary VBMS in consortium with NKT Cables has been awarded the Borssele Beta contract by TenneT for the installation of two 67-kilometer-long export cables that will connect the Borssele offshore wind farms 3 and 4 to TenneT’s onshore grid in the Netherlands. In addition, VBMS will install a seven-kilometer-long interconnector cable between the Borssele Alpha and Beta offshore substations. The contract value of Boskalis’ share is approximately EUR 70 million.

 

The grid connection of the Borssele offshore wind area in the North Sea consists of two 700 MW connections, called Alpha (for Borssele 1 and 2) and Beta (for Borssele 3 and 4). In November 2016, VBMS was awarded the contract for Borssele Alpha as well as the option for Borssele Beta, which has now also been awarded. The four cables will be routed via the Western Scheldt estuary and will come ashore near the existing high-voltage substation at Borssele, the Netherlands.

In order to execute the project in a safe and efficient manner, Boskalis has taken full advantage of the expertise and capabilities within the group. To minimize maintenance to the cables during their operational lifetime, Boskalis will pre-sweep and dredge the shallow parts of the route, which will enable VBMS to simultaneously lay and bury the export cables at the required depth.

Borssele Alpha will go into service in 2019 followed by Borssele Beta in 2020.

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BGP: NNPC & First E&P Flag-Off Marine Oil Search

NNPC Declares Commitment to Growing Nigeria’s Reserves Revenue Generation.

The Nigerian National Petroleum Corporation (NNPC) has declared its commitment to growing the nation’s crude oil reserves and increasing daily national production with a view to boosting the nation’s revenue generation.

Group Managing Director of the Corporation, Dr. Maikanti Kacalla Baru stated this during the flag-off ceremonies of the NNPC/First E&P Oil Mining Leases (OMLs) 83/85 partnership for marine seismic data acquisition vessel in Lagos, yesterday.

Dr. Baru, who performed the flag-off ceremony aboard Marine Vessel BGP Prospector offshore Lagos, said the project would boost NNPC’s drive towards enhancing the nation’s abundant hydrocarbon deposits.

The development, Baru added, also reinforced the Federal Government’s commitment to further harness Nigeria’s numerous resources to enhance income streams and ultimately boost the nation’s economic prosperity.

“Without doubt, this development resonates perfectly with NNPC’s commitment to growing the nation’s reserves and increase production, as enshrined in our corporate vision of 12 Business Focus Areas (12 BUFA),” he added.

The GMD, who gave the assurance of the NNPC Management’s “unflinching support” for the project, charged the partners to ensure its completion on schedule and in a cost-effective manner while urging strict adherence to Health, Safety & Environment (HSE) standards.

Speaking at the occasion, Managing Director of First E&P, Dr. Ademola Adeyemi-Bero said the aim of the project was not only to grow the nation’s reserves, but also to develop the capacity of Nigerians.

He commended the GMD for making time to perform the flag-off rites, stressing that his company would work hand-in-hand with all the partners to enable them complete the project ahead of schedule.

In his remarks, the Chairman of Petroleum Technology Association of Nigeria (PETAN), Mr. Bank-Anthony Okoroafor reiterated that the project would boost in-country capacity.

“The project is also expected to align with the Federal Government’s effort to drive down the cost of marine seismic acquisition in the country,” Okoroafor added.

The NNPC/First E&P OMLs 83/85 partnership for marine seismic data acquisition would be executed by a Joint Venture (JV) between NNPC’s Integrated Data Services Ltd (IDSL) and Bureau of Geophysical Prospecting (BGP), a subsidiary of Chinese National Petroleum Corporation (CNPC).

Shedding more light on the project, Managing Director of IDSL, Engr. Diepiriye Tariah said the IDSL/BGP JV would acquire 3D marine seismic data using streamer cables, covering a total of 901sq. km.

He added that the marine vessel (BGP Prospector) is well-suited for broadband seismic data acquisition with the capacity to tow ten or more streamers of 6km length, and is fitted with adequate safety equipment and hearing sensors.

The partners have been given a 74-day time schedule to deliver on the project.

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BHGE: Rig Count Overview & Summary Count

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Schlumberger: Stone Run Capital lifted by $1.97M its SLB stake

Stone Run Capital Llc increased Schlumberger Ltd (SLB) stake by 88% reported in 2017Q2 SEC filing. Stone Run Capital Llc acquired 30,250 shares as Schlumberger Ltd (SLB)’s stock declined 11.04%.

The Stone Run Capital Llc holds 64,625 shares with $4.26M value, up from 34,375 last quarter. Schlumberger Ltd now has $88.03 billion valuation. The stock increased 0.30% or $0.19 on October 27, reaching $63.55.

About 12.97 million shares traded or 69.10% up from the average. Schlumberger Limited. (NYSE:SLB) has declined 3.30% since October 28, 2016 and is downtrending.

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It has underperformed by 20.00% the S&P500.

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Seabird Exploration: Looking for an Accounting Manager

SeaBird is looking for an ambitious Accounting Manager. The Accounting Manager is responsible for the financial books and records, financial reporting, consolidation and developing the accounting team. The position will offer varied tasks and it will evolve together with the company. The Accounting Manager will work closely with and report to the Group Controller in the Oslo office.

Responsibilities

Responsible for day-to-day preparation of financial books and records
coordination with operations department on review of revenues, costs and reporting
supervising and developing the accounting team
contribute to accuracy and effectiveness in the department through improvement and developing of routines and processes
consolidation
periodic financial reporting
preparation of internal and external presentation materials
preparation of management reports
follow-up and analysis of liquidity and working capital
support with implementation of systems, automation and controls

Qualifications

Bachelor or Master degree(s) within Business, Finance, Accounting or Science/Engineering
2-4 years relevant experience
experience form working with ERP systems is an advantage
excellent English skills, both oral and written. English is the company’s working language

Personal skills

We are looking for a person who has solid working capacity, is ambitious and structured. You are business oriented, take responsibility and have the ability to develop this function. Professional attitude and co-operation skills will also be emphasized.

We offer

Personal growth and development for the right candidate
competent and exciting working environment
competitive terms

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OYO Corporation: Stocks Rise

Shares of OYO Corporation (TYO:9755) last traded at 1740, representing a move of 0.4%, or 7 per share, on volume of 44,600 shares. After opening the trading day at 1740, shares of OYO Corporation traded in a close range.

OYO Corporation currently has a total float of 27.08 million shares and on average sees shares exchange hands each day. The stock now has a 52-week low of 1141 and high of 1790.

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BGP: Oil exploration exercise kicks off in Zanzibar

ZANZIBAR kicked off the crucial second phase of oil and natural gas exploration, a seismic survey that will finally establish if hydrocarbons exist in quantities that justify commercial exploration.

There are already high hopes after initial Full Tensor Gravity Gradiometry (FTG) survey conducted from March this year on Pemba and Unguja Blocs indicated the presence of the petroleum resource.

According to the Lands, Water, Energy and Environment Minister, Salama Aboud Talib, the survey, which will be carried out by BGP explorer, will include offshore deep water, transition zone/ offshore shallow water and onshore explorations in Pemba and Unguja.

“The deep water survey will last after one month while shallow water and onshore surveys will be concluded in eight months. The BGP will then interpret the data in a process that will take between 12 and 24 months” revealed the Energy minister.

Ms Salama added that three BGP explorer vessels will be performing offshore explorations whilst dynamite explosives will be used during the onshore exploration.

“The seismic survey is a geographical study using shock waves to produce detailed images of local geology to determine the location and size of possible oil and gas reservoir,” she explained.

The President of China National Petroleum Corporation, Mr Gou Yunhui, who represented RAKGAS, a Ras Al Khaimah company which has financed the project at the tune of 32m US dollars, shared the optimism of most Zanzibaris over the prospects of large reserves of oil and gas.

Mr Yunhui recalled his encounters with two Zanzibari students, who nursed dreams of a brighter future in the wake of the ongoing oil and natural gas explorations.

 

“Last year…in Pemba and Unguja, I saw the determination of young students going to school and looking for the future with brain and a lot of potential there, one of them, I remember his name is Abdulrahman, was asking me what I was doing here.

“Looking for oil? I said yes… he said; would we be like Saudi Arabia and United Emirates? I said… I hope so… so I hope everything will improve in Zanzibar.

“During my visit to Unguja, I remember meeting this young girl, Aisha, and she asked me the same question, and I told her yes, she said; ‘I dream of driving a Ferrari…

I said I do too! He said the second phase of exploration, which will include the acquisition of the site map, was crucial in identifying drilling locations, which he expects to be acquired in two years time.

He said during the exercise, samples will be collected to help determine whether or not there are reserves of oil and natural gas on the Isles and how big they might be.

According to him, the preliminary results from the first phase survey have already been doctored, with the final result expected to be out in a couple of months.

Zanzibar Second Vice President, Ambassador Idd said the seismic survey was a crucial step towards the final phase of drilling exploratory wells, and lauded what he called a historic achievement by the Indian Ocean Archipelago.

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