Discovered Gas News

Alaska-based Qilak LNG announced that a Heads of Agreement (HOA) has been entered into with ExxonMobil Alaska Production regarding the potential supply of natural gas from the Point Thomson field to Qilak LNG's proposed Alaska North Slope liquefied natural gas (LNG) export project (Qilak LNG 1 Project).According to the Lloyds Energy company, which was formed to identify and develop Arctic LNG projects in North America,  the he HOA foresees ExxonMobil providing at least 560 million standard cubic feet per day (mmscfd) of natural gas to Phase 1 of the Qilak LNG 1 Project, based on the design concept of offshore liquefaction and loading…

BP and Reliance Industries Limited (RIL) today announced the sanctioning of the ‘Satellite cluster’ project in Block KG D6. The companies are moving forward to develop the Block’s discovered deep-water gas fields in an integrated series of projects, bringing new gas production for India. The ‘Satellite cluster’ is the second of three projects in the Block KG D6 integrated development. The first of the projects, development of the ‘R-Series’ deep-water gas fields, was sanctioned in June 2017. Together the three projects will develop a total of about 3 trillion cubic feet of discovered gas resources with a total investment of c. INR 40,000 crore (US$6 billion). They are expected to bring a total c.

Norway's Statoil will soon start drilling this season's most promising Arctic prospect, Korpfjell, after several disappointing wells in the Barents Sea, the company said on Monday. The majority state-owned company has stepped up drilling in the Barents Sea this year as the government seeks to attract more explorers to its Arctic waters to make up for declining North Sea output. The Norwegian Petroleum Directorate said on Monday Statoil's latest well in the Barents Sea, Gemini North, had found only minor volumes of gas and oil.

The United States imported a 272,000-barrel cargo of Bolivian condensate bought by trading firm Trafigura last week after more favorable crude spreads prompted larger purchases of foreign oil last month, according to traders and ThomsonReuters data. Refining and trading companies in the United States turned to crude and condensate imports in February to find cheap oil after the arbitrage opened as a result of an inversion in the spread between benchmark U.S. crude oil prices and Brent. Purchases of African crudes increased to 11.66 million barrels in February, the highest volume since October including Nigerian condensate, according to the same data. Most crudes arriving were light and sweet, competing with U.S. grades.

Natural gas deposits discovered in two locations by Chevron Australia's deepwater drilling exploration program in the Carnarvon Basin. The Pinhoe-1 exploration discovery well encountered approximately 197 feet (60 meters) of net gas pay in the Barrow and Mungaroo Sands. Pinhoe-1 is located in the WA-383-P permit area, located approximately 124 miles (200 kilometers) north of Exmouth off the Western Australia coast. The well was drilled in 3,048 feet (929 meters) of water to a total depth of 13,396 feet (4,083 meters). The Arnhem-1 exploration discovery well confirmed approximately 149 feet (45.5 meters) of net gas pay in the upper Mungaroo Sands. Arnhem-1 is in the WA-364-P permit area, located approximately 180 miles (290 kilometres) north of Exmouth off the Western Australia coast.

Eni, with partners Lundin and Det Norske hoped for oil but discovered gas & condensate at the Salina structure in western part of the Barents Sea. Det norske oljeselskap ASA earlier announced the discovery of hydrocarbons in the Salina prospect in production license 533, operated by Eni. The well confirmed the existence of gas in two reservoir units; in the Cretaceous Knurr formation, and in the Jurassic Stø formation. The well was drilled to a total depth of 2,371 meters below sea level, down to Triassic rock in the Snadd formation. The operator’s estimate of recoverable gas volumes is between six and eight billion cubic meters (40-50 million barrels of oil equivalents).

AO Gazprom, the world’s largest natural gas producer, plans to develop two blocks with Vietnam Oil & Gas Group off the coast of the Asian nation, Bloomberg reported. Gazprom will take 49 percent of the project with PetroVietnam, as the state-owned company is known, to develop the 05.2 and 05.3 blocks, the Russian gas producer said today. The partners will work under a production-sharing agreement, Gazprom said. PetroVietnam and Gazprom are already working together exploring for oil and gas offshore Vietnam, the country which has been Russia’s ally since the Soviet era. The two blocks in the South China Sea cover two discovered gas and condensate fields, Moc Tinh and Hai Thach, with total reserves of 55.6 billion cubic meters of gas and 25.1 million tons of condensate, Gazprom said.

During the drilling of exploration well 7226/2-1 in the Barents Sea StatoilHydro, the operator of the licence, has struck gas in a prospect named Ververis. The drilling in 347 metres of water was performed by the Polar Pioneer drilling rig. This is the 13th discovery on the Norwegian continental shelf that StatoilHydro is involved in this year. The main purpose of the well was to confirm the existence of hydrocarbons in early Jurassic to mid-Jurassic sandstones. The well confirmed the existence of gas in mid-Jurassic sandstones. No gas/water contact was established.

Pakistan's demand for natural gas is anticipated to double by the year 2005, an increase which the country require an increase in gas imports, the state-run Sui Southern Gas Company (SSGC) said. SSGC managing director Mukhtar Ahmed said gas supplies of 500 million cu. ft. (14.16 million cu. m) per day from five new fields would be available by the end of 2002, but high local demand required other options such as imports. Currently, Pakistan produces 2.4 billion cubic cu. ft. (67.96 million cu. m) a day, one billion cu. ft. a day short of the domestic demand. Ahmed said that gas demand would grow by 3,581 million cu. ft. per day in 2005 and projections for the year 2010 was 3,868 million cu. ft. per day.

Statoil has discovered gas in the Midnattsol prospect in the Norwegian Sea, Rigzone reported. The find was made in exploration well 6405/10-1 in production license 281. Midnattsol is located some 40 kilometers north of the Ormen Lange field and 30 kilometers south of the Ellida find. The well was drilled in a water depth of 3,044 ft. to a total depth of 10,360 ft. below sea level. Gas was encountered in a reservoir of the late Cretaceous. Core samples have been taken and an extremely thorough data acquisition program carried out. The collected data will be analyzed to estimate the discovery's size and production characteristics. It is too early at this stage to declare the find commercial. Midnattsol will be permanently plugged and abandoned.

According to www.business-standard.com, Oil and Natural Gas Corporation (ONGC) has signed a deal with Brazil’s Petrobras for exchange of stakes in oil blocks in each other’s countries. ONGC will reportedly offer Petroleo Brasileiro SA (Petrobras) stake in its deepwater oil and gas block in the Krishna-Godavari basin, in which it discovered gas reserves estimated at 5-15 trillion cubic feet. In return, Petrobras – according to the report – will offer ONGC Videsh Ltd (OVL) stake in oil blocks in Brazil.