Hyperdynamics' Guinea Consortium Provides Notice of Intent

MarineLink.com
Monday, August 05, 2013

Hyperdynamics Corporation announced  that Tullow Oil Guinea Ltd. has formally notified the Republic of Guinea, on behalf of the consortium that is exploring for oil offshore Guinea, of its intent to elect to extend the Second Exploration Period for an additional three years, as provided for under the terms of its existing Production Sharing Contract (PSC).

During the three-year extension of the Second Exploration Period – which extends through September 21, 2016 – the consortium will be required to drill one exploration well to a minimum depth of 2,500 meters below the seabed. Tullow Oil, the concession's operator, plans to spud the next exploration well – a deep water fan prospect – in the first quarter of 2014. Also, as part of the requirements under the PSC, the consortium will relinquish 25% of the remaining concession area back to the government of Guinea on September 21, 2013.

"This three-year renewal is a key step in advancing our ongoing exploration program offshore Guinea," said Ray Leonard, President and Chief Executive Officer of Hyperdynamics. "As the new operator, Tullow is making strong progress in leading the development of our work plan for the next exploration well. Tullow has committed to the project a high-quality deep water drilling rig, and we look forward to testing a high-potential deepwater prospect offshore Guinea sometime early next year," he added.

Hyperdynamics holds a 37% nonoperated working interest in the offshore Guinea exploration project. Tullow Oil, the operator, holds a 40% working interest, and Dana Petroleum holds a 23% working interest.

Maritime Reporter July 2015 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

People & Company News

Marad Visits TX Maritime Technology & Training Center

United States Maritime Administration tours Maritime Technology and Training Center site.   Administrators from the United States Maritime Administration (MARAD),

ISS Announces CEO Transition

Captain Claus Hyldager yesterday decided to step down as the Chief Executive Officer of Inchcape Shipping Services (“ISS”).    The current Chief Financial Officer,

CME Lifts Force Majeure for all Illinois River Grain Terminals

CME Group has lifted its declaration of force majeure at all Illinois River terminals that are regular for Chicago Board of Trade corn and soybean futures delivery,

Contracts

ISS Announces CEO Transition

Captain Claus Hyldager yesterday decided to step down as the Chief Executive Officer of Inchcape Shipping Services (“ISS”).    The current Chief Financial Officer,

Pressure for Australia Sub Deal Grows

Australia to spend A$65 bln on ships and subs over 20 years; PM pledges A$40 bln for domestic shipbuilders. Australia will spend A$89 billion ($65 billion) on

LNG Ferry Construction for Tallink Begins

The start of production of Tallink's new generation LNG powered fast ferry for the Tallinn-Helsinki route was celebrated on the 4th of August 2015 at Meyer Turku shipyard.

Offshore

CWind Joins National Workboat Association

Citing crew transfer services as an integral part of its offering, offshore wind industry service provider CWind announced it is now a member of the National Workboat Association (NWA) of the U.

BG Group Starts up Sixth FPSO in the Santos Basin

BG Group announced first oil from the Cidade de Itaguaí floating, production, storage and offloading (FPSO) vessel, the sixth unit to start production across the

BG Awards Fugro MBES, Seabed Coring Contract

Fugro has been awarded a contract by BG International Limited Sucursal Honduras to conduct an integrated multibeam echosounder (MBES) survey and seabed coring campaign

Environmental

S.Africa Considering Ship-Based Power Generation

South Africa could deploy power barges using gas to generate electricity to help overcome chronic supply shortages, a senior government official said on Tuesday.

NYK Hosts Safety Conference

Over three dates in July, NYK hosted a safety promotion conference for shipowners and ship-management companies at the NYK head office in Tokyo and at Imabari city in Ehime prefecture.

El Nino Onset May Impact Panama Canal Drafts

The Panama Canal Authority closely monitors the water levels of Gatun and Alhajuela lakes on a regular basis due to the importance that these resources have for transit operations.

Energy

S.Africa Considering Ship-Based Power Generation

South Africa could deploy power barges using gas to generate electricity to help overcome chronic supply shortages, a senior government official said on Tuesday.

Asian Nations Call for Stop to South China Sea Land Work

Calls grow for China to halt land reclamation. Southeast Asian countries on Tuesday backed a U.S. call to halt land reclamation in the South China Sea, underlining

Koole Expands Rotterdam Operations

Koole Terminals has begun operations at the storage facility for petrol and diesel in Pernis that it recently acquired from BP.   The companies have a long-standing relationship.

Offshore Energy

Egypt Gets FSRU from BW Gas

Norway-based BW Gas will provide Egypt with a liquefied natural gas (LNG) floating import terminal under a five-year contract.   This comes as as the North African

CWind Joins National Workboat Association

Citing crew transfer services as an integral part of its offering, offshore wind industry service provider CWind announced it is now a member of the National Workboat Association (NWA) of the U.

Strategic Marine: Stock Program Full Power Ahead

Strategic Marine confirmed its stock program of personnel transport vessels is market-ready.  “Our stock program currently incorporates two class leading designs

Ocean Observation

El Nino Onset May Impact Panama Canal Drafts

The Panama Canal Authority closely monitors the water levels of Gatun and Alhajuela lakes on a regular basis due to the importance that these resources have for transit operations.

Climate Change Boosts Galapagos Penguin Population

New study finds shifting winds and ocean currents helped double endangered Galapagos Penguin population   Shifts in trade winds and ocean currents powered a resurgence

BG Awards Fugro MBES, Seabed Coring Contract

Fugro has been awarded a contract by BG International Limited Sucursal Honduras to conduct an integrated multibeam echosounder (MBES) survey and seabed coring campaign

 
 
Maritime Contracts Naval Architecture Navigation Offshore Oil Pod Propulsion Salvage Ship Electronics Ship Simulators Shipbuilding / Vessel Construction Winch
rss | archive | history | articles | privacy | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.3620 sec (3 req/sec)