Operator Statoil has together with PL713 partners made a gas discovery in the Pingvin prospect in the Barents Sea. The discovery is a play opener in a frontier unexplored area of the Barents Sea northwest of Johan Castberg. The discovery well 7319/12-1, drilled by the drilling rig Transocean Spitsbergen, proved a 15-metre gas column in the well path. Statoil estimates the volumes in Pingvin to be in the range of 30-120 million barrels of recoverable oil equivalent. The discovery is currently assessed as non-commercial. “Pingvin is the first well drilled in PL713 – a large frontier area northwest of Johan Castberg awarded in the 22nd concession round. For a discovery in this area to be commercially viable it needs to be an oil accumulation of a significant size. A gas discovery does not have commercial value at present. "On the positive side, it is encouraging that the first well drilled in this unexplored area has proven hydrocarbons in sandstones. This indicates that we have both a reservoir and a working hydrocarbon system in the area, and creates a good basis for further subsurface work in the licence,” says Dan Tuppen, vice president exploration Barents Sea and Norwegian Sea. Pingvin is a good example of efficient exploration performance. “The partnership drilled Pingvin just 15 months after the acreage award
Tanzania has invited energy explorers to bid for six blocks in the east African nation that is fast becoming a new frontier in the hunt for oil and gas. According to a statement by the Tanzania Petroleum Development Corporation seen by Reuters, the six blocks are all inland and stretch from the southeast of the country to the northwest. Bidders have until December 3 to submit their documents. Tanzania has at least 14 companies exploring at sites both on and offshore
The oil and gas expanded the offshore drilling frontier in the Gulf of Mexico. Already one of the most explored basins in the world, the Gulf of Mexico’s deepest hydrocarbon deposits will be auctioned off later this year, the result of political maneuvering in the waning moments of the last Congress. This new area will attract interest from companies with deep pockets and lots of patience, according to industry experts.
Gas has been found by StatoilHydro in the Asterix prospect, which lies in 1,360 metres of water 345 kilometres west of Sandnessjøen in the Norwegian Sea. Preliminary estimates put the proven recoverable volume, which is located 80 kilometres west of the Luva gas discovery, at about 16 billion cubic metres (100 million barrels of oil equivalent). “This represents one of the bigger discoveries off Norway in recent years, and we’re very pleased with the result
The ceremonial first cut of steel for the construction of the jackets on the Cygnus gas field project was celebrated today by operator GDF SUEZ E&P U.K. and partners Centrica Energy and Bayerngas at Burntisland Fabrication’s (BiFab) Methil yard in Fife, Scotland. This latest project milestone involves BiFab’s manufacturing facilities at Methil, Burntisland and Arnish and is expected to create 100 new jobs at Methil and 15 apprentice positions will be created at Methil and
Sound Oil, the European / Mediterranean focused upstream oil and gas company, announced its unaudited interim results for the six months ended 30 June 2014. Highlights * Introduction of cornerstone institutional investor following the year-end at a significant premium to market * Continued preparation for the drilling of the world class Badile prospect early 2015 with a competitive farm out process underway
World drilling activity for oil and gas fell 24 percent in 1999 from 1998, but levels should bounce back in 2000, IHS Energy Group said. "In 2000, I expect levels to reach at least those of 1998," said Ian Cross, Asia director for IHS, who produced an IHS report on world drilling activity in 1999. "Some areas in 2000 will be slow to catch up. I think the Far East will be one of them. There is less money going into this region," he said.
According to reports, the Australian oil exploration company Santos announced an oil and gas discovery at the Dua-4X exploration well currently being drilled in exploration Block 12E, offshore of Vietnam. Initial tests at the Dua-4X and Dua-4X ST1 wells, operated by Premier Oil, discovered oil and another well is to be drilled to evaluate reserves in the southern part of the field, said a Santos report. Santos have agreed in April this year to take a 37
Sembcorp Marine secures US$ 4.032 Billion drillship contracts from Sete Brasil. Sembcorp Marine Ltd, through Jurong Offshore Pte Ltd’s wholly-owned subsidiarieshas secured contracts from Sete Brasil Participacǒes S.A. (Sete Brasil), for the design and construction of five drillships based on Jurong Shipyard’s proprietary Jurong Espadon drillship design. In addition to the above, Sembcorp Marine had earlier in the year announced that its wholly-owned Brazilian shipyard Estaleiro
Dana Gas, one of Middle East's leading regional private sector natural gas Company, announces that it has achieved gas production level in Egypt of 200 million standard cubic feet per day (equivalent of 41,500 boepd, including over 8,000 barrels per day of associated liquids), the highest level for the company in the country in 2 years. This represents a growth of 29% over the 2012 average. The Company’s core operations in the Nile Delta and its Egyptian Bahrain Gas Derivatives
President Energy gave a mid-November update on the progress of the Lapacho well, Chaco Region, Paraguay. The well has been drilled to 4,490m since setting casing at 4,125m. President has previously announced that a light oil/condensate discovery had been made higher up the well in the
Drillsearch Energy Limited announced a new wet gas discovery on the Western Cooper Wet Gas Fairway of the Cooper Basin. The Varanus South-1 well in PEL 513 (Drillsearch 40% and Santos 60% and Operator) is the first well to be drilled by Santos and Drillsearch under the joint venture between the
The Petrobras Orca–1 exploratory well (Tayrona Block) has revealed a natural gas accumulation in Colombian Caribbean deep waters, 40 km off the coast of La Guajira. This is the first discovery in the history of the deep water exploration of this region of the Caribbean.
Italian oil and gas group Eni estimated the potential of the Minsala Marine discovery offshore Congo Brazzaville at about 1 billion barrels of oil equivalent, after successfully completing the production test of an exploration well.
Ophir Energy plc announced that the Silenus East-1 well in Block R, Equatorial Guinea has resulted in a new gas discovery. The Silenus East-1 well was drilled by the Vantage Titanium Explorer drillship within the thrust belt area of Block R
In the International Bid Round 2013, RWE Dea has been awarded two new offshore concessions with operatorship by the Egyptian General Petroleum Corporation (EGPC). The concessions are located in the Gulf of Suez, where the company is producing oil as operator for more than 30 years.
Colombia's top energy company Ecopetrol is targeting production of 1 million barrels of oil equivalent per day in 2015, a steep recovery over this year, clouded by rebel attacks on infrastructure and exploration failures. Ecopetrol chief financial officer Magda Manosalva told a
Petróleo Brasileiro S.A. – Petrobras announces the discovery of new gas accumulation at Espírito Santo Basin post-salt. The discovery took place during drilling of well 3-BRSA-1259-ESS (ANP nomenclature) / 3-ESS-222 (Petrobras nomenclature), informally known as Tanganika
Norwegian oil firm Statoil has made a small gas discovery in the Arctic, near its Johan Castberg oil discovery, the Norwegian Petroleum Directorate said on Friday. The find contains between 1 and 2 billion standard cubic metres of recoverable gas, it said
Norwegian Arctic discovery could be game changer; Lundin Petroleum shares rise 7 percent. Noreco, Det Norske shares also rise on news. Swedish oil firm Lundin Petroleum has made a big oil and gas discovery in the Norwegian Arctic, sending its shares more than 7 percent higher and raising hopes
GDF SUEZ E&P UK Ltd and BP today announced a new exploration discovery in the UK Central North Sea. The discovery, which spans GDF SUEZ operated block 30/1f (licence P1588) and BP operated block 30/1c (licence P363) was flow tested at a maximum rate of 5
Libra consortium reports that drilling the first well in the area extension of Libra, the 3-BRSA-1255-RJS (3-RJS-731), confirmed the discovery of good quality oil in the northwestern part of the structure . Well, informally known as NW1, is located in the pre-salt Santos Basin
S.Africa wants 30 wells drilled in next 10 years; Total woes a setback to S.Africa exploration drive. French energy major Total has halted oil exploration off the southern coast of Africa due to mechanical problems with a rig, meaning it will not be able to resume searching in the area before
Egypt, facing its worst power crisis in decades, on Saturday pledged greater energy cooperation with Greece and Cyprus, a diplomatic move that opened up the possibility of progress in talks to import natural gas from Cyprus. Cypriot President Nicos Anastasiades said in Cairo that the three
Cairn has made a discovery of high quality oil in the second well in the Senegal exploration programme. The SNE-1 well is located in 1,100 metres (m) water depth and approximately 100 kilometres (km) offshore in the Sangomar Offshore block with a target depth of ~3