Author: SeisNews

 

The Maritime and Port Authority (MPA) of Singapore refused license renewals for two bunker suppliers for corrupt practices.

The bunker supplier licences of bunkering companies Panoil Petroleum and Universal Energy will not be renewed after they expire on August 31, 2017. The authority added that it will not be renewing the bunker craft operator licence of Universal Energy.

“Both companies will no longer be allowed to operate as a bunker supplier and bunker craft operator in the Port of Singapore,” according to MPA Singapore.

The companies got their licences revoked as they contravened the terms and conditions of their bunker licences.

Namely, Panoil Petroleum made unauthorised alterations on the pipelines of their bunker tankers and has accumulated demerit points for non-compliances to the bunkering procedures, while Universal Energy accumulated demerit points for delivery of bunkers that were severely aerated as well as stoppages during bunkering operations.

With the points accumulated, the companies have failed to be accredited under the Accreditation Scheme for Bunker Suppliers, which is a key requirement for the renewal of bunker licences under the terms and conditions of the licences.

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MCM to invest $96.92m in offshore supply base, scouts for foreign partners

Myanmar Chemical & Machinery Co Ltd (MCM) has received approval for the development of a $96.92 million offshore supply base on the west coast of Myanmar. The firm is open to partnerships with international firms for the project, a top executive said.

The supply base port, to be located on Madae Island, Rakhine state covers about 150 acres of land, owned by the company and will be located 600 meters away from one of the jetties of the Kyaukphyu Special Economic Zone. Close by is the deep sea port of the China Myanmar pipeline project.

Construction for the project is expected to take about two years, with about $72.72 million to be spent on importing required machinery.

“We are open to working together with a foreign counterpart for the operation of the offshore supply base in an appropriate structure,” said Tin Soe, project director of MCM Energy Co Ltd.

The company aims to complete a 200-meter jetty during phase one of construction and add another 400 meter long jetty during phase two. “We are expecting to buy another 50 acres of land to extend the coverage of the project,” said Soe.

The entire coastline of Myanmar stretches about 1300 miles, hosting about 50 offshore blocks across Adman and Mottama offshore.

This year, the government approved three additional private companies to operate offshore supply base projects in Myanmar. Earlier, oil and gas operators had to rely on offshore supply bases in Singapore and Thailand as well as the state-owned Thaketa offshore supply base.

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All up and running at the PESGB African E&P Conference 2017.

 

First up was James Muirhead from the University of Syracuse.

• Next up at 10:20: Scott Thackrey, Maersk
• A holistic reappraisal of the geological evolution of the Tertiary East African Rift System, Kenya; understanding the controls on basin evolution and petroleum play development 

Download the programme.

The Exhibition has also started, who do you need to see:

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North-east praised for resolve in standing by oil and gas industry

The UK Government’s new energy minister Richard Harrington made the comments yesterday during his first visit since taking up the post in June.

The Conservative MP for Watford said Aberdeenshire should be proud of finding a way through the oil and gas downturn and not succumbing to economic pressures that wiped out other industries across the UK like shipbuilding and steel making.

The Parliamentary Under-Secretary of State for Industry and Energy, who was appointed under Prime Minister Theresa May following the snap General Election, admitted that the industry and the wider north-east had been through tough times.

But he was buoyed by the determination of those intent on making the most of the remaining oil and gas reserves.

Mr Harrington said: “I think the way that this city has taken the battering that it has, with the jobs that it has lost and the way it is reforming itself, is very impressive.

“Not by quitting an industry like has happened so traditionally with steel in Sheffield and ship-building in Glasgow .

“But by saying the oil and gas industry is still here and we are going to redevelop it in a different way.

“There’s a positive way forward which everyone seems to bind to.”

The minister made the comments following the latest Maximising Economic Recovery (MER) Forum to discuss on-going strategic efforts in squeezing every last hydrocarbon out of the region.

The group was set up to bring together government, industry and the Oil and Gas Authority (OGA) to deliver a programme of work for the UK continental shelf.

It was a day of revelations for Mr Harrington, the former DWP minister.

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PTTEP to start exploring Myanmar offshore gas deposits next year

Thailand-based PTT Exploration and Production (PTTEP) will commence exploration work in the M9 and M11 offshore blocks in Myanmar’s Gulf of Martaban next year.

The blocks are 250 kilometres from Dawei and 270 kilometres from Myeik, respectively.

The company held a public meeting on Tuesday (August 29) to discuss the project, but only a handful of people attended, including government staff, representatives of civil-society groups and other invitees.

“The exploration work in M11 will start after February 2018 and in M9 in October next year,” an official of Myanma Oil and Gas Enterprise said.

“Investment in the two blocks will not be the same. They are part of the Zawtika natural-gas project, and the government will reap 20 per cent of the benefits. We signed the contract with PTTEP for M9 in 2003 and for M11 in 2005. We found natural gas in the blocks and, if we find oil, we will extract that, too.”

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Stock Prices: 31 Aug 17

Boskalis and ION Geo the only two stocks to show a rise.

Stock Update							31-Aug-17
Company		Index	Ticker		Price		Change
Boskalis		AEX	BOKA		27.55		0.15↑
CGG		NYSE	CGG		6.69		1.23↓
EMGS		OSE	EMGS		2.15		0.02↓
Fugro		AEX	FUR		10.37		0.05↓
ION Geo		NYSE	IO		7.25		0.15↑
Magseis		OSE	MSEIS		17.50		0.00↑
OYO		TSE	9755		1604.00		19.00↓
PGS		OSE	PGS		14.16		0.19↓
Polarcus		OSE	PLCS		1.16		0.00↑
SAExploration		NASDAQ	SAEX		1.58		0.01↓
Seabird Exploration		OSE	SBX		0.41		0.02↓
Schlumberger		NYSE	SLB		63.39		0.11↓
Spectrum		OSE	SPU		36.00		0.00↑
TGS		OSE	TGS		161.50		1.00↓
WGP Group		LSE	THAL		88.50		0.05↓
			Chart data available on the Stock Prices page

 

 

 

 

CGG signs agreement with Mozambique ministry for vast offshore MC programme

CGG announces that it has signed a multi-client data agreement with Mozambique’s Instituto Nacional de Petroleo (INP) following a competitive tender process held by INP in 2016. As a result of this agreement, CGG will shortly commence acquisition of a new multi-client survey of up to 40,000 km² of 3D data over the Beira High in the Zambezi Delta, covering blocks Z5-C and Z5-D and surrounding open acreage.

Deliverables will include fast-track PreSTM, Final PreSTM and PreSDM. The seismic data will be imaged with the latest 3D broadband deghosting and advanced demultiple, velocity modeling and imaging techniques, including Full-Waveform Inversion.

This survey will form part of a comprehensive, fully integrated JumpStart™ geoscience program that will deliver a better overall understanding of the prospectivity of the region. Marine gravity and magnetic data will be acquired simultaneously with the seismic to accelerate regional interpretation.

Jean-Georges Malcor, CEO, CGG, said: “This agreement marks the beginning of a fruitful partnership with the INP to promote the potential of the Zambezi basin and other regions of Mozambique. Our advanced 3D seismic and integrated geoscience program will enable oil companies to confidently de-risk this exciting new exploration area and accelerate development of the country’s resources.”

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Link to the details of the t-3 application as submitted on 30 August 2017.

 

 

 

 

Houston Memorial Office Closed Until Tuesday

 

 

 

 

 

Drone Mapping Survey of Mountain in 3D

VPS were contracted to carry out a 3D survey of a mountain in Ras Al Khaimah, UAE. The images you are seeing in the video are created from the densified 3D mesh which has produced an incredible image showing the geological strata in great detail.

 

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