CNOOC Announces A Deepwater Gas Finding In Qiongdongnan Basin

CNOOC Limited announced a deepwater gas discovery on Block 64/11 offshore China after the Lingshui 22-1-1 exploration well drilled by its partner, BG Group (BG) , encountered gas-bearing sands.
The exploration well is located in Qiongdongnan Basin in the South China Sea, approximately 130 kilometres offshore and in a water depth of 1,338 metres. BG will conduct further analysis of the well results to evaluate the hydrocarbon potential in the Block. 
Mr. Zhu Weilin, Executive Vice President of the Company commented, “This is the first deepwater well in Qiongdongnan Basin. We are excited about the well results. It has further strengthened our confidence in deepwater exploration in this area.
The Company signed the production sharing contract (PSC) with BG for deepwater block 64/11 on 7th June 2006.
Source: Press release

Posted on 1/02/2011 / 0 comments / Read More

Big 4 target over $50bn

Korean Big 4 shipbuilders are aiming to secure new orders worth over $50bn in total in 2011 in ship and offshore plant sectors.
The world's four largest shipbuilding companies, namely Hyundai Heavy Industries, Samsung Heavy Industries, Daewoo Shipbuilding & Marine Engineering and STX Offshore & Shipbuilding are targeting about 30% more new orders on a year-on-year basis in the new year.
[Read More]
Source: Asiasis

Posted on 1/02/2011 / 0 comments / Read More

Global shipyard ends year on high note

A high-level naval delegation led by Commodore Shaikh Saeed bin Hamdan bin Mohammed Al Nahyan, Deputy Commander, UAE Navy, has visited the Dubai Maritime City and Drydocks World's facilities in Dubai, which has witnessed a huge success in 2010.
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Source: zawya

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Dockwise confirms GoM transport orders

An affiliate of Chevron USA has contracted Dockwise to transport the Jack and St. Malo platform hull from Korea to the Gulf of Mexico. The contract value is $25 million.
Dockwise has also a firm contract from Bluewater Industries, valued at $40 million, to transport the topsides for ATP's Cheviot platform in the UK North Sea from the fabrication yard in China to Europe, and to perform the associated float-over.
Among the company’s other recent orders are the transportation of the MENAdrill 1, a Super M2 jackup, from the UAE to Mexico, plus three further jackups. The total value of this program is around $13.5 million.
Early in 2011, Dockwise will transport the semisubmersible rig Noble Clyde Boudreau from the US Gulf of Mexico to Brazil. And the company has been designated contractor of choice for transportation of a topside consignment to Europe and of the jackup barge GMS Endeavour, from Abu Dhabi to Rotterdam in 1Q 2011.
André Goedée, CEO, said that 2011 would have “more of a spot market nature than 2010 and is therefore still uncertain from a backlog perspective. However markets that typically demand these kinds of services like, for example, exploration drilling seem to demonstrate more activity.”
Source: Press release

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Anadarko deemed a good fit for BHP amid bid talk

Miner BHP Billiton's acquisition strategy was back in the spotlight on Friday as market talk resurfaced that it was looking at a $40 billion-plus bid for Anadarko Petroleum Plc, although banking sources said they were unaware of any imminent offer.
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Source: Reuters

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Petrobras Reports Record Oil Production in Brazil

Petrobras informs that in December it achieved three new records in Brazil: the monthly, annual and daily oil production averages. The monthly average for December will be approximately 2,120 thousand barrels a day, against the previous record of April of this year of 2,033 thousand barrels. The volume produced in the month is 4.4% higher than the production achieved in November of this year (2,030 thousand bpd).
In addition to the monthly record, the Company recorded yet another daily record. On December 27th, oil production reached 2,256 thousand barrels. With these results, the Company closes 2010 with a level of production higher than 2 million barrels a day (2,003 thousand bpd), which also represents a new annual record.
This performance was mainly due to five new wells coming into production in the Campos Basin during the month: CHT-9 and BFR-3, in the Cachalote and Baleia Franca fields, both interconnected to FPSO Capixaba; wells JUB-9 and JUB-14, which produce connected to the newly installed P-57 platform, in the Jubarte field; and CRT-43, which was given the working name Carimbé and is a producer well nestled in the pre-salt layer of the Caratinga field, which is connected to platform P-48. 
With the aggregate contribution of these five wells, it was possible to add more than 100,000 barrels per day to Petrobras' production in Brazil. Furthermore, it is important to highlight the high level of operational efficiency achieved in the month by the Stationary Production Units (SPU) of all operating units. 
The good performance of fields located in mature areas in Northern and Northeastern Brazil and in the state of Espírito Santo also contributed to the results. These fields, where production had been declining in recent years, managed to maintain an average production of around 213,000 barrels of oil per day in 2010 thanks to the revitalization effort undertaken by Petrobras. 
Another highlight was production being kicked-off at well SPS-55, which initiated the Extended Well Test in the Guará area, in the Santos Basin pre-salt layer.
Source:  Press release

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Transocean Challenges Chemical Agency's Authority to Probe BP Gulf Blast

A federal panel that investigated the fatal 2005 Texas refinery blast that resulted in a $50 million fine for BP Plc hasn’t got the authority to probe the company’s April deep-water drilling disaster, according to rig owner Transocean Ltd.
Under federal law, floating rigs are exempt from oversight by the U.S. Chemical Safety and Hazard Investigation Board, Rachel G. Clingman, an attorney for Transocean, said in a letter to the agency obtained by Bloomberg. 
[Read more]
Source: Bloomberg

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Cnooc Scraps OGX Bid to Avoid Competition With Sinopec

Cnooc Ltd., China’s largest offshore oil and gas producer, withdrew a plan to bid for a stake in Brazil’s OGX Petroleo & Gas Participacoes SA to avoid competition with China Petrochemical Corp., the 21st Century Business Herald reported, citing a person it didn’t identify.
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Source: Bloomberg

Posted on 1/02/2011 / 0 comments / Read More

Oilfields halt production as gales hit Australian coast

Three leading oil and gas companies said on Saturday gale force winds, possibly developing into a cyclone, had led to production being halted at oil fields off the Western Australian coast.
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Source: Reuters

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Wärtsilä introduces new more powerful version of its Wärtsilä 32 engine

Wärtsilä, the marine industry’s leading solutions provider, has introduced a more powerful version for marine applications of its popular Wärtsilä 32 engine. First introduced in the 1980s, and with more than 4000 units sold to the marine industry alone, the Wärtsilä 32 engine has proven to be a highly efficient and reliable solution for a wide range of vessel applications. The latest version is expected to expand that range even further.
The Wärtsilä 32 engine is a popular choice for both the marine and land-based power plants markets. In the marine industry the engine is used for both main engine and auxiliary engine applications. It is typically selected to power different types of tankers, container vessels, and offshore support and drilling vessels, while in the cruise and ferry sector, the Wärtsilä 32 is the most favoured engine of its size. In auxiliary electric production, the Wärtsilä 32 is widely utilized in all vessel categories where high auxiliary load is needed.
The new and upgraded version is available with an increased power output of 580 kW per cylinder at 750 RPM (50 Hz version). This represents a 15 percent increase in power output over the earlier 32 engine, despite having the same external dimensions. This increased output means that the Wärtsilä 32 now covers a power range from 3 MW to 9,3 MW. One area where this new power output is of particular interest is in the offshore drillship market. It is felt that in combination with Wärtsilä’s Low Loss Concept, the new engine can offer a powerful yet compact package for diesel electric propulsion.
The Wärtsilä 32 engine is fully equipped with all essential ancillaries, and has a thoroughly planned interface for the plant or ship’s control system. This ensures easy installation and reliable engine operation.
The engine is able to operate efficiently and economically on low sulphur fuels (<0.1% S), making it suitable for operation in emission-controlled areas. It can also be equipped with a SCR catalyst, such as the Wärtsilä NOR (nitrogen oxide reducer), which can reduce NOx emissions by as much as 95 percent. This means that, already today, the machinery is IMO Tier III compliant. The standard Wärtsilä 32 entirely fulfils IMO Tier II regulations. Regardless of the fuel used, the consumption efficiency is consistently excellent over a wide load range.
In announcing the introduction of this latest engine upgrade, Mr Juhani Hupli, Vice President, Ship Power Technology, Wärtsilä Ship Power commented: “The Wärtsilä 32 engine has been the preferred choice of yards, owners and operators for several decades already. However, in order to ensure that our leading position in propulsion technology is maintained and strengthened, Wärtsilä is constantly seeking to improve and further develop its engine portfolio. This on-going development work enables us to offer our customers around the world, the very latest solutions. These solutions enable them to meet the challenges posed by rising fuel and operating costs, and increasingly stringent environmental legislation.”
Source: Press release

Posted on 1/02/2011 / 1 comments / Read More

Orca Exploration Announces Well Workovers

Orca Exploration Group Inc. has announced that it will perform workovers in 2011 on two Songo Songo offshore natural gas wells (SS-5 and SS-9).
Recent routine testing of all five Songo Songo producing gas wells has determined that there is the need for some remedial work on the tubing.  As a result Orca has suspended production from SS-5 and reduced flow rates from some of the other wells.  This will cause a short term reduction in system deliverability to approximately 74 MMcfd until SS10 is brought on stream in January 2011.
Once completed, the workovers of SS-5 and SS-9 are anticipated to add 40 MMcfd to field deliverability as well as extend the wells productive lifespan. The Company is continuing to analyse the testing data to determine the best workover strategies and associated costs.
To address this urgent need to increase gas availability Orca will continue all planned infrastructure activities. In anticipation of additional gas availability TANESCO (the Tanzanian electric utility) has contracted Jacobsen Elektro SA to install a further 105 MW plant by Q1 2012 and the Government is planning to re-commission a 112 MW plant that has been idle for two years. Orca is currently negotiating a re-rating agreement with Songas to ensure that there is sufficient infrastructure capacity to supply this plant.
Orca is continuing with plans to drill the Songo Songo West exploration prospect in 2011.  The Company is currently in discussion with another exploration company interested in securing a jack up rig in the same timeframe and who is willing to share mobilisation costs.
Orca Exploration is an international public company engaged in natural gas exploration, development and supply in Tanzania and oil appraisal and gas exploration in Italy.  Orca Exploration trades on the TSXV under the trading symbols ORC.B and ORC.A.
Source: Press release

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Seadrill - Changes to Board composition

Mr. Kjell E Jacobsen has served notice that he would like to retire from the Board of Seadrill Limited effective from December 31, 2010.  
Mr. Jacobsen started to work for offshore drilling company Smedvig in 1991 and was the Company's CEO from end of 2001 to 2006. In 2006, Mr. Jacobsen was instrumental in order to facilitate the successful integration between Seadrill Limited and Smedvig asa and became CEO of Seadrill Management AS. He retired as CEO of Seadrill Management AS in 2008, but remained a highly valuable Board member. Mr. Jacobsen is currently a partner in the energy focused private equity group Energy Ventures.
Chairman John Fredriksen says in a comment: We want to thank Kjell E Jacobsen for his solid contribution to the Seadrill story. He developed in his former position as CEO a truly professional and highly competent organization with focus on meeting clients' requirements. He has in his later role as director been a very competent Board member with his in-depth knowledge of the drilling industry.
The Board wishes Kjell E Jacobsen all success in his future ventures.
The Board has nominated Mr. Carl Erik Steen to fill the vacancy on the Board created by the retirement of Kjell E Jacobsen. Mr. Steen is currently Head of Shipping, Oil Service and International Business in largest Nordic bank, Nordea. Mr. Steen will take up his directorship in February 2011 after retiring from his current position in Nordea. Mr. Steen, who is graduated as M.sc in Industrial Management Engineering from ETH in Zurich, is 59 years and resides in Oslo.
Chairman John Fredriksen says: We are honored that Carl Erik Steen has accepted a directorship in Seadrill. Mr. Steen is well familiar with our Company and has extensive knowledge about the offshore industry in general. We are convinced that Mr. Steen will be a valuable addition to our Board.
Source: Press release

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