Potential Gas News

Indonesia is looking to offer more oil and gas blocks in North Sumatra basin this year following a major discovery by Mubadala Energy in a bid to accelerate gas production, a senior energy ministry official said on Tuesday.The energy ministry is currently reviewing potential energy blocks for auction this year, director general for oil and gas Tutuka Ariadji told reporters."North Sumatra basin is one of the potential area for further exploration after a major discovery recently in Layaran-1 by Mubadala Energy," Tutuka said.United Arab Emirates' Mubadala said in December it had discovered a maj

Daphne Technology has established a U.S. subsidiary, Daphne Technology USA, and has appointed Jamie Brick, to lead its North American operations from Houston, Texas.Daphne Technology says its core focus is the development of sustainable solutions to combat harmful emissions. The company's SlipPure after-treatment system, which reduces methane emissions in the exhaust of natural gas-fueled engines (aka “slip”), has received approval in principle (AIP) from Lloyd's Register (LR) and DNV.

Australia's southern states will need to import natural gas to fill a looming shortfall by 2024, as last year's COVID-19 induced oil and gas price slump has slowed investment in new fields, the country's competition watchdog said on Tuesday.Regulators have warned of a potential gas shortfall since 2016 as the market's mainstay gas source off the south coast is drying up, but the supply crunch is now rapidly approaching, the Australian Competition and Consumer Commission (ACCC) said."It is concerning that the risk of a gas supply shortfall in Australia's southern states continues…

Turkish President Tayyip Erdogan accused the European Union on Wednesday of never acting honestly towards his country and said Ankara was not concerned by any economic sanctions the bloc might impose on it.EU foreign ministers said on Monday Turkey had failed to help end a row with Greece and Cyprus over potential gas resources in the eastern Mediterranean, but they left a decision on sanctions for a summit of EU leaders that starts on Thursday.NATO ally Turkey has been at odds with EU members Greece and Cyprus over the extent of their continental shelves in the east Mediterranean.

The European Union will impose sanctions on more Turkish individuals and companies responsible for drilling in contested waters in the Mediterranean, according to a draft statement prepared for EU leaders to agree at a summit on Thursday.If agreed, the EU will “prepare additional listings” on the basis of a sanctions list already in place since 2019 and “if need be work on the extension” of its scope, according to the draft statement seen by Reuters.Negotiations over the two-page statement are still ongoing and Greece and Cyprus, which accuse Turkey of drilling for hydrocarbons off its continental shelf, believe the sanctions do not go far enough, according to diplomats briefed on internal discussions.EU leaders are considering whether to make good on a threat made in October to sanction T

South Korea-based liquefied natural gas (LNG) floating storage and regasification unit (FSRU) project development company EPIK Co. has signed a strategic partnership agreement with Hyundai LNG Shipping, the marine freight transportation services for LNG."The agreement lays out a framework for the two companies to work together in the development of FSRU projects around the globe, including, but not limited to, EPIK’s recently announced Newcastle LNG FSRU import project at the Port of Newcastle, Australia," said a press release form EPIK.Jee Yoon, EPIK’s Founder and Managing Director, said, “partnering with Hyundai LNG Shipping marks a key strategic milestone for EPIK…

Novatek, Russia's second biggest gas producer, said on Friday it had signed agreements with Japan's Mitsui & Co, Mitsubishi Corp and Marubeni Corp to cooperate in liquefied natural gas and other energy sectors. Japan, lacking fuel resources, is the world's largest importer of the gas while Russia wants to boost its global LNG market share, currently less than 5 percent. Novatek's Chief Executive Leonid Mikhelson said the agreements focused on potential gas production, gas liquefaction and liquefied natural gas transport. Novatek is interested in LNG trading with the three Japanese trading companies, he said. Marubeni said in a statement that it would explore opportunities to develop upstream and midstream areas for the Arctic LNG-2 project which Novatek is newly implementing…

Wärtsilä has been given full notice to proceed (NTP) from Manga LNG Oy for the supply of a liquefied natural gas (LNG) import terminal in Tornio, Northern Finland. Wärtsilä will commence construction on the site near the port of Tornio in January 2015. Manga LNG Oy is a joint venture of Outokumpu Group, Svenskt Stål AB (SSAB), Skangass and EPV Energy Ltd. Wärtsilä initially announced this project in January 2014. The order, valued at approximately EUR 100 million, will be included in Wärtsilä's order intake in December 2014.

Wärtsilä has been given full notice to proceed (NTP) from Manga LNG Oy for the supply of a liquefied natural gas (LNG) import terminal in Tornio, Northern Finland. Wärtsilä will commence construction on the site near the port of Tornio in January 2015. Manga LNG Oy is a joint venture of Outokumpu Group, Svenskt Stål AB (SSAB), Skangass and EPV Energy Ltd. Wärtsilä initially announced this project in January 2014. The order, valued at approximately EUR 100 million, will be included in Wärtsilä's order intake in December 2014. The turnkey delivery of the first import terminal supplied by Wärtsilä includes complete unloading, storing and regasification equipment for LNG. The capacity of the LNG storage tank will be 50 000 cubic metres.

San Leon Energy, the AIM listed company focused on oil and gas exploration in Europe and North Africa, announces that it is spudding the Kety exploration well today, which is the first well of a three-well planned programme in the Karpaty area and Permian Basin in Poland. As announced in August, the Company intends to drill two exploration wells in the Karpaty area and one exploration well in the Permian Basin in Poland during a single campaign using a rig from Exalo Drilling. All three wells are relatively shallow and are in a proven hydrocarbon trend area. Drilling of the first well is expected to be completed by mid-October, with completion and testing planned by the end of October if the well is successful.

Today at the SMM 2014 exhibition, GE announced it will showcase a variety of cutting-edge projects and solutions to meet demands of the global commercial and naval marine industry. According to Afra Gerstenfeld, General Manager of Transportation’s Marine group, “The products and services GE provides can help customers operate ships more efficiently, reduce emissions and meet stringent global environmental regulations. •    Dongwon Industries-- one of the world's largest tuna fishery companies -- will use two 16V250 GE Marine diesel engines to power two 80-meter-long tuna purse seiners. The first ship is scheduled for commissioning in late 2015. This is the second GE diesels order from Dongwon. Local support is provided by GE’s regional distributor, YusinHR.

Serica Energy plc is pleased to confirm it has now completed the farm out of UK East Irish Sea Blocks 113/26b and 113/27c (Licence P.1482) with Centrica through its subsidiary Hydrocarbon Resources Limited. Under the agreement, HRL has acquired an operated 45% interest in the licence, with Serica retaining 20%,in consideration for HRL bearing Serica’s share of costs associated with the drilling of an exploration well, upto a gross cap of £11 million. In addition, the transaction involved the transfer from Serica to HRL of a 15% interest and operatorship in the adjacent Block 113/22a (Licence P.2124), which was awarded in the 27th Offshore Licensing Round. The equity interests over the two licences are now aligned.

GE Marine and Lloyd’s Register report they have signed a Memorandum of Understanding (MOU) to identify potential gas turbine-powered commercial ship projects. GE Marine is one of the world’s leading manufacturers of marine propulsion systems, products and services. Lloyd’s Register helps clients to safely design, build and maintain ships, oil rigs, rail networks and power stations, and is a key player in supporting innovation in shipping - to reduce both environmental impact and to improve ship performance.

Fastnet, the UK and Irish listed E&P company focussed on near term exploration and appraisal acreage in Morocco and the Celtic Sea, announced that its wholly owned subsidiary Pathfinder Hydrocarbon Ventures Limited (Pathfinder) has entered into an amended exclusive option agreement with Oil and Gas Investments Funds (OGIF) (the "Option Agreement"), in relation to eight Exploration Permits comprising the Tendrara Lakbir Petroleum Agreement (the Tendrara Licence) onshore Morocco. Following substantive negotiations with its partner OGIF, Fastnet has secured improved commercial terms from those previously announced on 29 May 2013. ·     The deadline to drill the first well has been extended from 30 September 2014 to 21 April 2015.

Exhaust Gas Recirculation (EGR) has firmly shown its ability to comply with Tier III NOx limits, which will enter into force in January 2016. Developed by MAN Diesel & Turbo, the EGR process already relies on Alfa Laval’s PureNOx, which provides the vital cleaning of the scrubber water. Now Alfa Laval is cooperating with MAN Diesel & Turbo to implement an EGR boiler, which could potentially add major energy benefits to the secure emission compliance. Over 1000 hours of EGR operation have now been achieved aboard the Maersk Cardiff, a container newbuild from A.P.

Ahead of investor meetings today, Fastnet, the E&P company focused on exploring in Africa and in the Celtic Sea, provides an update on its operations, including its proposed forward work programmes and farm-out activities. An updated corporate presentation is now available on the Company's website (http://www.fastnetoilandgas.com/investor-relations/presentations/2014.aspx) providing an overview of the Company's recent corporate developments and its asset portfolio. ·     * 3D seismic confirms five potential reservoir targets with potential for substantial in-place oil based on structural size, up to 140 sq. ·     * A two-stage farmout process is underway with increased interest following the highly successfully Celtic Sea Conference held in Dublin in April.

Ziff Energy, a Division of HSB Solomon Associates LLC, released a report titled “North American Ultimate Potential Gas Resource.” The report presents the ultimate resource potential for Appalachia, the Gulf Region, the Mid-Continent/Permian basin, the Pacific, Alaska and Canada. It features a breakdown on the remaining resource of undiscovered conventional gas, tight gas, shale gas and coalbed methane. The report also includes details of Ziff Energy’s methodology for resource estimation of selected plays. “Ziff Energy has created preliminary estimates of the technically recoverable ultimate potential of Montney, Horn River, Liard, and Duvernay plays,” said Simon Mauger, P.Geol., Director, Gas Supply and Economics, and report author.

Wärtsilä says it has signed a turnkey contract to supply a liquefied natural gas (LNG) receiving terminal to be built in Tornio, northern Finland. The contract, valued at approximately EUR 100 million, has been made with Manga LNG Oy, a joint venture between the Finnish companies Outokumpu Group, Ruukki Metals Oy, Gasum Oy and EPV Energy Ltd. The contract is conditional on receipt of investment support and Manga LNG Oy's contracts with other parties, including the gas suppliers.

GE’s Global Offshore and Marine business powers and propels ships, keeping them in position at the touch of button. The Korean naval, offshore and merchant, shipbuilding industry, one of the largest and most important in the world, has long since recognized the benefit that GE’s experience and technology can deliver—partnering together for 30 years. That is why Kormarine 2013 is one of the key events where GE will showcase its latest advancements in diesel engines, gas turbines and dynamic positioning solutions, all designed to deliver reliability, fuel efficiency, lower maintenance and life cycle costs. SB Ahn, GE’s Global Offshore and Marine leader said, “GE provides solutions that affect vessels and marine installations from stem to stern and from ocean to sea bed.

GE Marine reports its LM500 aeroderivative gas turbine has been selected to power the Republic of Korea Navy’s PKX-B patrol boat program. The LM500 gas turbines will be manufactured in-country by Samsung Techwin at its Changwon, Korea, facility. The potential gas turbine propulsion system value over the life of the 34-ship PKX-B program is approximately $400 million. The program will be conducted in two phases. The first phase is for 16 shipsets. After completion, Phase II will proceed according to ROK government procedures.

Qatar Petroleum (QP) on behalf of the Government of the State of Qatar has signed a new Exploration and Production Sharing Agreement (EPSA) with Shell and PetroChina Company Limited (PetroChina) for Qatar Block D. The agreement was signed in Doha by His Excellency Abdulla bin Hamad Al-Attiyah, Deputy Prime Minister and Minister of Energy and Industry, Peter Voser, Chief Executive Officer of Royal Dutch Shell plc, and Mr. Zhao Dong, Chief Financial Officer of PetroChina International Investment Company Limited. Under the agreement, the partners will jointly explore for natural gas in Block D. Block D covers an area of 8,089 square kilometres onshore and offshore Qatar and is located close to Ras Laffan. The Block D concession is for pre-Khuff geological intervals.

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 37.5% interest in two Vietnam exploration permits - Block 12E and Block 12W. Dua-4X was drilled down-flank from the 1974 Dua-IX disco very well that produces: 1,500 barrels of oil per day. Following the intersection of hydrocarbons in the Dua 4X,vprineal well, a sidetrack has been drilled (Dua-4X ST1) to provide further geological information.

An effort to open Virginia's coast to offshore drilling gained new momentum in Congress when Virginia's senators introduced legislation giving states the option to drill for natural gas. The bill would give governors of coastal states the power to opt out of a federal moratorium that prohibits offshore drilling in most U.S. coastal waters. The new legislation comes one week after the Bush administration signaled its support for such proposals by calling for a study of potential gas and oil development in Virginia waters. Unlike other recent drilling bills, however, the new legislation is limited to natural gas drilling - thereby keeping in place a federal ban on offshore drilling for oil.