Author: SeisNews

Providence Resources P.l.c., the Irish based Oil and Gas Exploration Company today provides an operational update regarding Frontier Exploration Licence 3/04 located in the southern Porcupine Basin.  FEL 3/04 is operated by Eni Ireland BV (36.913%) on behalf of its partners Repsol Exploracion Irlanda SA (33.557%), Providence Resources (26.846%*) and Sosina Exploration Limited (2.684%). The licence contains the undrilled Lower Cretaceous “Dunquin South” carbonate exploration prospect.

The JV Partners previously agreed to underwrite and licence new multi-client 3D seismic data which were to be acquired by third party seismic contractor CGG over FEL 3/04 in 2017. The Operator has now confirmed that the 3D acquisition has finished over FEL 3/04.

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With sustained low oil prices, the petroleum industry must continuously improve its strong safety and environmental performance while also controlling costs and seeking savings.
Join us this year to discuss how human factors and behaviour management, technology and innovation, collaboration with other industries and the adoption and adaption of the latest science, research, development and thought-leadership are reshaping the industry.

Program Launch and Registration Opens mid-July

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RWC Asset Management LLP, as the discretionary investment manager of the RWC European Focus Master Inc. (RWC), a primary insider of Electromagnetic Geoservices ASA (EMGS), has used their allocated subscription rights to subscribe for 8,060,030 new shares in the ongoing Rights Issue in EMGS. The price per share is NOK 2.45.

Prior to the transaction, RWC held 4,507,948 of the issued shares in EMGS.

An updated overview of the total holding of shares will be published following the issuance and allocation of the new shares.

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Nigerian National Petroleum Corporation (NNPC), FIRST Exploration & Production (First E&P) and Schlumberger signed today a tripartite agreement for development of the Anyala and Madu fields under OML 83 and OML 85, offshore Nigeria.

Under the agreement, Schlumberger will contribute the required services in kind and capital for the project development until first oil. The joint project team will leverage the technical expertise of Schlumberger and the extensive local knowledge of the partners.

OML 83 and OML 85 are in shallow waters 40 km offshore in the Niger Delta. The Anyala and Madu fields are discoveries with a combined STOIIP of more than 450 million bbl and GIIP of more than 800 Bscf. First E&P holds a 40% interest in the licenses and is the operator of the asset; NNPC holds the remaining 60%.

The project will be developed with an existing FPSO and is designed to add 50,000 bbls of oil per day and 120 MMscf of gas per day. Project FID is expected to be made in December 2017, with first oil production in 2019. The investment in the project, phased over several years, is estimated at $700 million. The agreement is based on a guaranteed project return and includes a payment assurance bank facility.

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With an aim to continually improve, build and diversify, FairfieldNodal said it has promoted a new chief sales officer and has added personnel focused on growing its technology portfolio and solidifying its position as a leader in QHSE readiness.

Five offshore workers have reportedly been injured after a seismic vessel crashed into an offshore platform in the Caspian Sea.

ABC.AZ, citing Socar, Azerbaijan’s national oil company, said the incident happened on Wednesday afternoon with a vessel named Arya 141 involved.

According to the company, the vessel owned by Caspian Shipping Company was conducting seismic survey in the Narimanov area when it lost control and crashed into offshore platform #34.

Five of seven crew members were injured and 1 person was hospitalized. Socar is investigating the case.

Offshore Energy Today has reached out to Caspian Shipping Company, seeking more info on the accident and on the vessel itself, as we’ve been unable to find any info on “Arya 141.”

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BP says it will take a ~$750M writeoff in Q2 related to exploration blocks it relinquished in Angola.

BP says it is giving up its 50% interest in an offshore block where a discovery that partner Sonangol once called Angola’s largest ever gas find now has been declared non-commercial.

In its report on Q2 exploration highlights, BP says it continues to make progress in shifting its exploration portfolio toward natural gas and advantaged oil.

BP expects the Savannah and Macadamia gas discoveries in Trinidad together will unlock ~2T cf of gas in place and to support further development in the country.

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Turkey’s second seismic research vessel, the MTA Oruc Reis, has been delivered to General Directorate of Mineral Research and Exploration.

The vessel joins Turkish Petroleum Corporation (TPAO)’s 8-streamer seismic vessel Barbaros Hayreddin Pasa, which was acquired from Polarcus in 2013.

Built by Istanbul Shipyard, for a working lifespan of 30 years, the MTA Oruc Reis is designed to perform 2D/3D seismic research and sampling for hydrograpghic, hydroacustic, geologic studies. The 86 meters long and 22 meters wide vessel is fitted with 4×4 streamer systems, with system infrastructure ready for 8×8.

The vessel is equipped with one remote operated vehicle (ROV) for oceanographic sampling and measuring. It can accommodate up to 55 personnel and stay at sea for 35 days.

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Royal Dutch Shell’s Prelude floating liquefied natural gas (FLNG) facility left the Samsung Heavy Industries shipyard in Geoje, South Korea this morning, marking a significant milestone for the project.

The facility, constructed by Technip Samsung Consortium, is being towed to North West Australia, where the next phase of the project will begin.

On arrival at the Prelude offshore gas field, 475 kilometres (295 miles) north-north east of Broome, Western Australia, pre-installed mooring chains will be lifted from the seabed and secured to the facility. Once secure, the hook-up and commissioning process will begin.

Prelude FLNG is an important project in Shell’s portfolio. It will provide liquefied natural gas for customers around the world and generate cash flow that will help drive the performance of Shell’s Integrated Gas business. The safe and reliable start-up of Prelude’s operations will be the project team’s focus throughout the next phase. Cash flow from the project is expected in 2018.

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PGS has entered into a data sharing agreement with the Institute of Marine Research in Norway for use of surplus data to improve understanding of the oceans.

In late March 2017 PGS announced its intention to open the Company’s surplus database for research on the ocean. The database has been built since the inception of the Company in 1991. Data recordings like temperatures and salinity through the water column, currents and weather observations are collected as a part of the seismic acquisition process in order to improve seismic imaging. This activity has created an extensive MultiClient data library with corresponding surplus data.

“As a responsible company we are fully committed to minimize the impact on the environment from our own operations”, says Jon Erik Reinhardsen, President & CEO of PGS. “We will contribute where we can to increase our collective understanding and knowledge of the oceanic environment. I am therefore pleased to enter into this agreement with the Institute of Marine Research in Norway for use of our surplus database.”

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