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Monday, January 22, 2018

Oil Discovery News

ExxonMobil Announces Oil Discovery Offshore Guyana

(Photo: ExxonMobil)

Exxon Mobil Corporation announced its sixth oil discovery offshore Guyana since 2015, following positive results from its Ranger-1 exploration well. The Ranger-1 well discovery adds to previous discoveries at Liza, Payara, Snoek, Liza Deep and Turbot, which are estimated to total more than 3.2 billion recoverable oil-equivalent barrels. ExxonMobil affiliate Esso Exploration and Production Guyana Ltd. began drilling the Ranger-1 well on November 5, 2017 and encountered approximately 70 meters of high-quality, oil-bearing carbonate reservoir.

Statoil: N. Sea Discovery Larger than Expected

Statoil’s executive VP for Exploration, Tim Dodson, shows off oil samples from the Aldous discovery during an August 16 press conference. (Photo: Ole Jørgen Bratland/Courtesy Statoil.com)

Communication between the Aldous and Avaldsnes oil discoveries in the North Sea has now been confirmed. In combination these discoveries may represent an oil structure of between 500 million and 1.2 billion barrels of recoverable oil equivalent. If the upper part of the interval strikes pay dirt, the discovery will be one of the ten largest oil finds ever on the Norwegian continental shelf (NCS). Statoil (OSE: STL, NYSE: STO) has a 40% stake both in licence PL 265, where Aldous was discovered, and in PL 501, where the Avaldsnes discovery was made.

Statoil Announces Major Oil Discovery

Statoil's Berents Sea Rig

Statoil Makes Major New Oil Discovery in the Barents Sea. Statoil ASA has together with its partners Eni Norge AS and Petoro AS made a substantial oil discovery in the Havis prospect in the same licence as Skrugard (PL532) in the Barents Sea. This is the second high-impact discovery in the North in nine months. Well 7220/7-1, drilled by the drilling rig Aker Barents, has proved a 48 metre gas column and a 128 metre oil column. Statoil estimates the volumes in Havis to be between 200 and 300 million barrels of recoverable oil equivalents (o.e.).

BP Amoco To Update Mammoth GOM Oil Discovery Soon

BP Amoco Plc said it should be able to provide an update on its giant Crazy Horse deepwater oil discovery in the Gulf of Mexico when two appraisal wells are completed during the next couple of months. "I would say the preliminary results are very encouraging and hopefully we will have some news in the near future," BP Amoco's Houston region Vice President David Welch told reporters after addressing the American Petroleum Institute's Houston chapter. The London-based company announced the Crazy Horse discovery last year, estimating that it contained reserves of at least one billion barrels of oil, making it the biggest ever deepwater discovery in the Gulf of Mexico.

Lundin Petroleum Finds Arctic Oil

Arctic scene: File photo

Swedish oil firm Lundin Petroleum has confirmed the size of a significant oil discovery in the Arctic, the company said on Monday after completing a second well. The Gohta discovery in the Norwegian section of the Barents Sea is now estimated to contain between 111 and 232 million barrels Of oil equivalent (boe), compared with 105-235 million boe seen in October last year. Lundin Petroleum's partners in the production license, called PL492, are Norway's Det norske and Noreco. (By Gwladys Fouche)  

Statoil Makes Gas Find in Arctic

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. Statoil's partners are Eni of Italy and Norwegian state-owned firm Petoro. Reporting by Gwladys Fouche

Statoil and Partners Discover High-Impact Oil Well

Statoil ASA and partners Petoro AS, Det norske oljeselskap ASA and Lundin Norway AS have made a high-impact oil discovery on the Aldous Major South prospect (PL 265) in the North Sea. Well 16/2-8, drilled by the Transocean Leader drilling rig, has identified an approximately 65-meter oil column in Jurassic sandstone. The acquired data confirm that this is a reservoir of excellent quality. Statoil has previously described the well as a high-impact well, and the result confirms…

Mobil Says Oil Discovery off Guyana is 'Significant'

Photo by ExxonMobil

Unlike almost all its neighbors, Guyana isn’t an oil producer yet. But the energy giant Exxon Mobil recently announced it had discovered “significant” oil off the coast. The discovery could put Guyana on oil and gas Map and the country could become a player in the oil marketplace. However, it will take months to ascertain the size and commercial potential of this discovery. And there could be issues, as the waters also claimed by Venezuela as part of a long-running border dispute between the South American countries.

Eni Makes Oil Discovery

Eni has made the first oil discovery in the Offshore Cape Three Points (OCTP) block, located in the Tano Basin offshore Ghana, about 50 km off the coast of Ghana. The discovery is relevant as it may have the potential for commercial development and confirms the importance of the block also in terms of the presence of oil, as well as natural gas and condensates. Eni plans for the immediate drilling of other wells to delineate the size of the discovery and confirm the feasibility of commercial development. The discovery was made through the Sankofa East-1X well, which reached a total depth of 3,650 meters, in 825 meters of water, and encountered 28 meters with  gas and condensate and 76 meters of gross oil pay in Cretaceous sandstones.

New Western Flank Oil Discovery at Balgowan-1

Map of PEL 91 including Balgowan-1 and Burners-1

Drillsearch Energy Limited announced that a new oil discovery at the Balgowan-1 exploration well in PEL 91 on the Western Flank Oil Fairway of the Cooper Basin. Wireline logs carried out at Balgowan-1 have confirmed a 9-metre gross oil column in the McKinlay-Namur and as a result, the well has been cased and suspended as a future oil producer, the 14th discovery in PEL 91. Analysis of the well results is continuing and Drillsearch will provide an update on the size of the discovery in due course. Balgowan-1 is located 3.6 kilometres northeast of the Stunsail-1 oil discovery.

Norway Confirms Small Arctic Oil Find

Norwegian oil explorer Det norske made a small oil discovery in the Arctic Barents Sea with a gross oil column of about 30 metres and much poorer reservoir quality than expected, the Norwegian Petroleum Directorate said on Monday. Det norske earlier said it found some oil in the prospect but initial volumes did not justify development. Det norske operates the licence and holds a 20 percent stake. Other shareholders include Sweden's Lundin Petroleum (20 percent), Tullow (15 percent), Rocksource (5 percent), Norwegian state holding firm Petoro (30 percent) and Atlantic Petroleum (10 percent).

Exploration Well in Kramsnø Completed

Irene Rummelhoff, senior vice president exploration Norway. (Photo: Harald Pettersen)

Statoil, together with PL532 partners, has made a gas discovery in the Kramsnø prospect in the Barents Sea. The exploration program around the Johan Castberg field has been vital in providing area knowledge, but so far not delivered expected oil volumes. In 2011-2012 Statoil made a breakthrough in the Barents Sea with two high impact oil discoveries Skrugard and Havis, proving a total of 400-600 million barrels of recoverable oil. Skrugard and Havis opened a new petroleum province in the Barents Sea and created a basis for the Johan Castberg field development project.

Hurricane spuds Lancaster well

Drilling Operation

  Hurricane Energy plc announced that the Lancaster horizontal appraisal well was spudded at 10:30 hours BST on 26 April 2014. The Company is using the Transocean Sedco 712 semi-submersible drilling rig for the operation which is intended to drill and test the Lancaster basement oil discovery. The operation is expected to last approximately 75 days after which further technical analysis will be undertaken.  

Statoil Buys into Brazil’s Santos Basin

Statoil completes acquisition and takes over operatorship of Brazilian offshore licence BM-S-8     Statoil and Petrobras have completed their previously announced transaction, whereby Statoil has acquired Petrobras’ 66 percent operated interest of the BM-S-8 offshore license in Brazil’s Santos basin.   BM-S-8 contains a substantial part of the Carcará pre-salt oil discovery.   On the completion of the transaction, Statoil has paid Petrobras $1.25 billion, half of the total consideration. The remainder will be paid at the passage of certain future milestones, mainly relating to the future unitization of Carcará.

Conclusion of Seismic Surveys, Offshore Ireland

announced the conclusion of its seismic acquisition program in the and St. Georges Channel area, offshore . The program, first announced on 15 September, 2006 was carried out by Gardline Surveys Limited utilizing the MV Sea Surveyor. In total, approximately 1,000 kms of high quality data was acquired in the period 10 October 2006 through to 6 November 2006 Specifically, 286 kms of 2-D data was acquired over Pegasus, a large exploration structure in the St. Georges Channel, 369 kms of 3-D data was acquired over the Ardmore gas discovery and 279 kms over the Hook Head oil and gas discovery. As announced on 26 October 2006, Ocean Bottom Seismic (OBS) was successfully deployed over the Blackrock oil discovery.

Elf Makes Second Gulf Of Mexico Discovery

French oil company Elf Aquitaine has announced its U.S. oil and gas subsidiary Elf Exploration Inc. made its second deep offshore oil discovery in the Gulf of Mexico this year. Elf officials said workers made the find at the Matterhorn well in the Mississippi Canyon Block 243, in which Elf Exploration Inc. has a 100 percent working interest. A Global Marine Celtic Sea semi-submersible vessel had drilled the well to a depth of 8,165 ft. and found 370 gross ft. of oil reservoirs in two zones, officials added. "Production tests showed a daily flow rate of 6,640 barrels of good quality oil as well as associated gas." The Matterhorn discovery follows Elf's March find at the Anconcagua prospect in Mississippi Canyon Block 305.

Oil Discovery in Brazil

A huge offshore oil discovery could raise Brazil's petroleum reserves by a whopping 40 percent and boost this country into the ranks of the world's major exporters, officials said according to an AP report. The government-run oil company Petroleo Brasileiro SA, or Petrobras, said the new "ultra-deep" Tupi field could hold as much as 8 billion barrels of recoverable light crude, sending Petrobras shares soaring and prompting predictions that Brazil could join the world's "top 10" oil producers. Petrobras says the Tupi field, off Brazil's southeastern Atlantic coast, has between 5 billion and 8 billion barrels -- equivalent to 40 percent of all the oil ever discovered in Brazil.

Conoco Forms GOM Shuttle Tanker Alliance

Conoco has taken another step toward safe movement of newly discovered crude oil reserves from the deepwater Gulf of Mexico to U.S. refineries by shuttle tankers built in the United States. Conoco's wholly owned affiliate, Seahorse Shuttling and Technology LLC (Seahorse), has formalized an alliance with the Alabama Shipyard of Mobile, Ala., and Samsung Heavy Industries of Korea to develop a design and construction plan that could have American-built shuttle tankers ready for service in 2004. Seahorse was formed by Conoco to provide crude oil storage and tanker shuttling services for new oil discoveries made by Conoco and other companies in the deepwater Gulf of Mexico.

Tanzania Offers Six Oil Blocks for Exploration

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, and it has so far found three areas with natural gas deposits. Its last licensing round was in 2004. Prospectors are studying east Africa afresh as insecurity in other parts of the continent and increasing energy nationalism elsewhere push them to seek new sources.

Woodside Buys ConocoPhillips’s Senegal interests

Peter Colemanm CEO Photo Woodside

Woodside completed the transaction to buy 100% of the shares in ConocoPhillips Senegal B.V. The total purchase price was US$350 million plus net customary adjustments of approximately US$90 million. Woodside CEO Peter Coleman said the acquisition was an exciting addition to Woodside’s global growth portfolio. “We look forward to working with the Government of Senegal and joint venture participants Cairn Energy, FAR Limited, and Petrosen, the Senegal National Oil Company, to progress the commercial development of the SNE and FAN discoveries.

Statoil Posts 2013 Third Quarter Results

Statoil's third quarter 2013 net operating income was NOK 39.3 billion. Adjusted earnings were NOK 40.4 billion. "Statoil delivered strong strategic progress in the third quarter. We added high-value barrels through the Bay du Nord discovery offshore Canada, the world's largest oil discovery this year. We also announced a major divestment to capture value created through asset development and unlock capital for investment in high return projects. Our operational performance is good and we delivered solid earnings in the period," said Helge Lund, Statoil's president and CEO. Statoil's net operating income of NOK 39.3 billion in the third quarter was positively impacted by gain from sale of assets. Refinery impairments and commercial provisions impacted the financial result negatively.

Spirit Energy 76 Participates in Significant Deepwater Discovery

Spirit Energy 76, Unocal Corporation's U.S. Lower 48 exploration and production unit, said the exploratory well drilling the Mirage prospect in the Gulf of Mexico deepwater is a significant oil discovery. Spirit Energy holds a 25-percent working interest. Vastar Resources, Inc. owns 75-percent working interest and is the operator. Vastar estimates the well encountered approximately 300 ft. of net pay. The company said it is too soon to estimate the extent of the discovery. Additional drilling will be conducted to further evaluate the find. The well was drilled in 3,927 ft. of water, approximately 80 miles south-southeast of Venice, La., on Mississippi Canyon block 941. It has been temporarily abandoned.

Offshore Newfoundland Geophysical Survey Contract Awarded

Map courtesy of PGS

PGS in cooperation with TGS begins data acquistion on  a new 20,000 km MultiClient 2D survey over the Northeast Newfoundland Shelf. The M/V Sanco Spirit has returned to Newfoundland and Labrador once again utilizing PGS GeoStreamer® broadband technology. Data acquisition will continue into early Q4 2012 and the vessel will complete the survey in 2013. “Northeast Canada and the far North represent some of the most exciting new deepwater exploration areas in the world today and broadband GeoStreamer data provides an ideal foundation for building a better understanding of its potential…

Maritime Reporter Magazine Cover Dec 2017 - The Great Ships of 2017

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