Drillsearch Energy Limited Western Cooper Gas And Liquids Project Update: Canunda 1 Extended Production Testing

Drillsearch Energy Ltd is providing this update on the progress of the Canunda-1 Condensate Discovery extended production test. The PEL 106B joint venture - Drillsearch (50%) and Beach Energy Ltd Canunda-1 extended production test (EPT) will recommence after a work over to allow for not only retrieval of wireline and pressure gauges but also reconfiguration of the well to optimise production performance from the rich condensate/volatile liquids pay interval.
Both Drillsearch and Beach have declared the Canunda Condensate Discovery commercial and have assessed that the Canunda Discovery contains at least 2.8 MMBOE including 1.3 MMbbls of liquid hydrocarbons comprised of condensate and LPGs as set out in the table at the end of the release.
It is currently planned that engineers and equipment will be mobilised to location in mid-January with testing recommencing early February. The reconfigured Canunda-1 well test evaluation is intended to more accurately define size and production characteristics of this high liquids yielding gas field.
The initial extended production test began in late June and due to high condensate production rates the 10-day test was choked back due to a lack of storage and transportation constraints. Over the 10-day testing period of the upper zone, the Canunda well produced over 2500 bbls of 62 degree API condensate.
Flooding and retrieval of pressure gauges had hampered the restart of the extended production test. Additional storage and trucking have been arranged to accommodate high condensate production rates when the extended production testing of the Canunda-1 discovery well re-starts in early February.

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Otto Energy to drill Philippines exploratory oil well

With a drill rig contract in hand, Otto Energy will embark on drilling exploration well Duhat‐1 in the first comprehensive structural test conducted on the island of Leyte in the Philippines.
The area is well documented for oil seeps and substantial exploration prospects.
[Read more]
Source: Proactive Investors

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ALE Heavylift handles two offshore platform modules

In Tampico, Mexico, ALE Heavylift has lifted and pulled two offshore platform modules.
The operation involved three different phases. First, saw the lift of a 1,370 tonne upper module of the 'Generación' Platform up to 19.1 m utilising eight HLS5000 lifting units each of 500 tonne capacity.
[Read More]
Source: Heavy Lift

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STX Pan Ocean explains newbuild financing technique

Korea's STX Pan Ocean is to set up six special purpose companies to finance newbuilding orders already placed. 
The Seoul- and Singapore-listed shipowner said Wednesday in a regulatory filing that the new companies would owe debt to financial institutions, which would be guaranteed by STX to the amount of KRW402.3bn ($358m). 
The period of debt guarantee would be between eight to 12 years after the delivery of the vessels. 
STX recently ordered a series of open-hatch general cargo carriers and kamsarmax bulk carriers from its sister company STX Offshore & Shipbuilding.
Source: Seatrade Asia

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Anhui will withdraw 4,500 Yangtze vessels by 2014

Shanghai: Anhui provincial government said that within three years of 2011, some 4,500 vessels registered locally will be withdrawn on a compulsory basis as part of the Yangtze River vessel standardisation programme. A total of RMB700m will be used to compensate ship owners, giving an average compensation amount of RMB155,000 per vessel scrapped. An official ceremony to start the scheme was held recently at Wuhu Luyou shipyard.
[Read More]
Source: Seatrade Asia

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More icebreakers operating in Danish waters

Nordane Shipping has chartered out a second icebreaker to the Danish naval command for service in the Limfjord. The icebreaker in question is the Stevns Icebird, which has been stationed in the entrance to the Limfjord, a place where ice traditionally is giving trouble for shipping. Since early December, Nordane Shipping has had the icebreaker Stevns working in the western part of the Limfjord covering the waters from Aalborg to Thyborøn.
[Read More]
Source: Shipgaz

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36 tourists rescued from stricken boat in Palawan

Passengers of motor boat carrying mostly Dutch tourists were rescued and brought to safety after it encountered engine trouble around 15 nautical miles away from El Nido Beach Resort in Palawan last Sunday.
[Read More]
Source: Manila Bulletin

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Coast Guard Redefines Cruise Ship Security Zone

The Cruise Ship Security Zone regulation (165.1108) makes it illegal to transit within 100 yards of any cruise ship that is anchored, berthed or under way, without first requesting permission from the Coast Guard captain of the port. Prior to the Dec. 20 change, the regulation applied not just to boating traffic, but to pedestrians and vehicles on piers and nearby streets.
[Read More]
Source: Sea News

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Inchcape shipping services awarded global hub contract

Rome-based Eni Trading & Shipping (ETS) has signed up with British marine services company, Inchcape Shipping Services, for a major new global hub agency contract.The global agreement will see ISS undertake hub agency services for Eni involving some 4,500 port calls annually across the world. ISS has been the hub agent for ETS international port calls since 2007 and this new agreement encompasses ETS’ domestic Italian, as
well its international port calls.
[Read More]
Source: Sea News

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Seafarers’ shortage a myth!

More and more ship owners and manning agents deny there being any seafarers’ shortage. According to a ship owner, those who continue to harp about it are merely indulging in empty rhetoric; these have evidently mistaken the ‘hull for the rudder’.
The successful manning agents say that the business of manning and ship management, calls for a commitment and greater support for the floating staff. They advocate a more humane approach to their difficulties and problems through bonding and good relationship so that a sense of belonging is created.
[Read More]
Source: Maritime Sun News

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SOMALI PIRATES ATTACK AND BOARD UK-FLAGGED SHIP IN FAILED HIJACK

Somali pirates on Monday attacked and boarded a UK-flagged tanker in the North Arabian Sea, but failed to take control of it, the U.S. Navy said on Tuesday.
The U.S. Navy said the incident happened at approximately 1.45 p.m. Bahrain time when Combined Maritime Forces (CMF) were notified of a distress call from the merchant vessel CPO China, which is a UK-flagged tanker. The distress call indicated that the vessel was being attacked by pirates while underway in the North Arabian Sea.
The ship reported taking fire from several skiffs and, despite evasive manoeuvring, was boarded by the suspected pirates. The U.S. Navy said the ship’s master mustered his 20 man crew in the ship’s citadel, a secure compartment from where they could retain control of the ship.
[Read More]
Source: Maritime Sun News

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Gulf Keystone proves 'massive' oil find with Shaikan-3 appraisal well in Iraq

Gulf Keystone Petroleum announces the completion of drilling and testing operations on its Shaikan-3 shallow appraisal well in Iraq. This well was designed to drill and test the Cretaceous intervals in the immediate vicinity of the Shaikan-1 discovery well.
The well drilled the entire Cretaceous interval and on into the Jurassic Sargelu formation. A total of two open hole and two cased hole flow tests were conducted in the Cretaceous. As a result of these tests, log evaluations and recovered fluid samples, the Company's current P50 to P10 estimate of Garagu oil in place volumes is 220 million to 2.2 billion barrels. These Garagu resources are in the lower portion of the Cretaceous (between 1060m and 1157m). The Shaikan partner group will formulate a development plan for these resources.
The large spread between P50 and P10 volumes is due to the uncertainty with respect to the exact nature of the Cretaceous down dip, on the flanks of the Shaikan structure. If the Cretaceous is oil bearing near the flanks, then the P10 volumes become more likely and it is possible that the oil will also be less viscous and of higher API gravity.
In the mean time, due to the different characteristics of the Cretaceous oil, the Shaikan-3 well has been completed as a second Jurassic producer from the Sargelu formation and will flow into the same test facilities as the Shaikan-1 well.
John Gerstenlauer, Gulf Keystone's Chief Operating Officer commented "The Cretaceous resources evaluated by the Shaikan-3 well are massive by any standard. They represent a significant oil resource for Kurdistan and Iraq. It is a further demonstration of the huge hydrocarbon potential of the area."
Gulf Keystone has a 75 percent working interest in the Block and is partnered with the MOL subsidiary, Kalegran, and Texas Keystone which have the remaining 20 and 5 percent working interests, respectively.
Source: Press release

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India’s Container Volume Surges 11 Percent

Container throughput at major ports in India for the April-December period surged 11 percent over the same period in fiscal 2009-10, the Indian Ports Association said Wednesday.
[Read More]
Source: Journal of Commerce

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Promising Results: Beach Energy completes Cooper Basin well targeting shale gas in South Australia

Beach Energy has completed drilling operations for Encounter-1 (Beach 90%) in Australia's Cooper Basin. This is the first of a two-well, back-to-back exploration program targeting shale gas potential in the South Australian portion of the Nappamerri Trough.
A total of five cores were taken in Encounter-1, and these are currently being analyzed for gas content, physical and mechanical properties.
Encounter-1 intersected 30% more target section than predicted, and the interval appears to be gas saturated with no evidence of water through and into the underlying Patchawarra Formation. This is a best case scenario for fracture stimulation as the thicker interval and absence of water reduces the risk of fracturing into zones that may produce formation brines.
An eight zone fracture stimulation treatment is planned for Encounter-1 early in the second quarter of 2011, once the second shale gas well, Holdfast-1, has been drilled. The rig is currently moving to the Holdfast-1 location.
Source: Press release

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China COSCO sees significant growth in 2010 results

China COSCO Holdings Co Ltd, the country's top shipping conglomerate, expects to have a significant growth in 2010 results, thanks to the sustained recovery of world economy.
[Read More]
Source: Reuters

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Super-Size Ships Challenge Capacity Balance, Report Says

Ship owners and operators are betting their future profitability on super-sized container ships and must delay deliveries of additional vessels to avoid overcapacity and plunging rates,a European shipping bank warns in a research report.
Super-post-Panamax container ships -- vessels with capacities of at least 8,000 20-foot equivalent units - "are becoming the backbone of the operating fleet of the top tier global liners," said the report by DVB Bank, based in Rotterdam and listed on the Frankfurt Stock Exchange.
[Read More]
Source: Journal of Commerce

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BP cost-cutting blamed for 'avoidable' Deepwater Horizon oil spill

The oil spill in the Gulf of Mexico was an avoidable disaster caused in part by a series of cost-cutting decisions made by BP and its partners, the White House oil commission said last night.
In a preview of its final report, due next week, the national oil spill commission said systemic management failure at BP, Transocean, and Halliburton caused the blow-out in the Gulf of Mexico, and warned that such a disaster would likely recur because of industry complacency.
[Read more]
Source: The Guardian

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BP closes portion of Prudhoe Bay oil field over land rent dispute with Inupiat Eskimo family

BP PLC has closed a small portion of the Prudhoe Bay oil field following a judge's ruling that federal regulators didn't get approval from the land owners.
Friday's shutdown of the Raven unit affects less than 1 percent of production from the nation's largest oil field, but it represents a victory for the Inupiat Eskimo family that has battled BP and the Bureau of Indian Affairs over use of the land.
[Read more]
Source: Los Angeles Times

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Maersk Line sees 2011 market fairly balanced

The container shipping arm of A.P. Moller-Maersk Maersk Line, sees a well-balanced market, as global capacity is forecast to grow 9 percent this year, a senior executive said.
The Head of Maersk Line's route network, Jorgen Harling, told Reuters in an email that the shipping company sees demand in the global container market growing by about 8 percent in 2011.
[Read More]
Source: Reuters

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Supertanker Surplus Increases, Cutting the Chance of a Rally in Hire Rate

A surplus of supertankers competing to load 2 million-barrel cargoes of Middle East crude oil expanded for the first time in four weeks, undermining owners’ efforts to secure better hire rates.
There are 15 percent more very large crude carriers, or VLCCs, for hire over the next 30 days than there are cargoes, according to the median estimate of seven shipbrokers and owners surveyed by Bloomberg News today. A week ago the excess was 10 percent.
Freight rates declined 0.8 percent to 49.57 Worldscale points today on the benchmark Saudi Arabia-to-Japan route, according to the Baltic Exchange in London. Rental income slid 7.6 percent to $14,978 a day, according to the bourse.
[Read More]
Source: Bloomberg

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Security tight as Nigerian oil state goes to polls

Thousands of armed police and soldiers have been drafted into Nigeria's oil-producing Delta state for a governorship election on Thursday seen as a litmus test for the conduct of nationwide polls in April.
[Read more]
Source: Reuters

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Maersk Oil makes discovery with Carambola-A in the Campos Basin offshore Brazil

Danish producer Maersk Oil has discovered hydrocarbons with exploration well 1-MRK-3/4P-RJS on Block BM-C-37 in the shallow waters of the Campos Basin offshore Brazil. 
Spud on November 3, 2010, the Carambola-A discovery well was drilled to a total depth of 3,400 meters, encountering multiple pay zones. Drilled by the Blackford Dolphin semisub, the Carambola-A prospect transected 14 meters of Sandstone reservoirs in the Santonian section, as well as carbonate reservoirs measuring 43 meters in the Albian section and 12 meters in the Aptian section. 
This is the first of two planned wells on Block BM-C-37. The Blackford Dolphin will now be transferred 4 kilometers to the north to drill the Carambola-B exploration well. 
Located about 74 kilometers off the coast of Rio de Janeiro, the Carambola-A discovery well is situated in waters measuring 134 meters deep. 
Maersk Oil serves as the operator of the block with 50 percent interest. Brazilian independent OGX holds the remaining 50 percent interest.
Source: Press release

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Canada Will Receive Record LNG Shipments in January, FirstEnergy Says

Canada will receive a record 22 billion cubic feet of liquefied natural gas in January, 69 percent more than the previous high of 13 billion cubic feet, FirstEnergy Capital Corp. said.
he increase in shipments comes through a supply contract between Repsol YPF SA and Qatar Liquefied Gas Co. estimated at about 66 billion cubic feet a year, researchers at Calgary-based FirstEnergy said in a report.
[Read more]
Source: Bloomberg

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Iran says S.Pars gas output hits target

Iran said on Wednesday daily natural gas output from the giant South Pars Gas field has reached 240 million cubic metres (mcm), the official IRNA news agency reported.
Hossein Nosratzadeh, a spokesman for the state Pars Oil and Gas Co., said the production had hit the expected target but did not give a comparative figure.
[Read more]
Source: Trade Arabia

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Schlumberger issues $1.6 bln debt

Oilfield services leader Schlumberger Ltd issued debt worth $1.6 billion in a three-part sale, IFR reported.
The group came to the market with $500 million of 5-year notes and two tranches of 10-year bonds of $500 million and $600 million, said IFR, a Thomson Reuters service.
[Read more]
Source: Reuters

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Petroneft Declines After Failing to Meet 2010 Oil Output Goal

Petroneft Resources Plc fell the most in more than two months in London trading after failing to meet a 2010 goal for crude output from a field near Tomsk, Russia.
The shares fell 5 pence, or 6.8 percent, to 68.5 pence at 8:22 a.m. local time, the biggest intraday drop since Oct. 29.
[Read more]
Source: Bloomberg

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Eni comes up dry with Barents Sea wildcat well

Eni, operator of production licence 489, is in the process of completing the drilling of wildcat well 7120/12-5 in the Barents Sea. This was the first exploration well in the Barents Sea since 2008.
The well has been drilled about 115 kilometres northwest of Hammerfest and about 50 kilometres west of the Goliat field. 
The purpose of the well was to prove petroleum in Jurassic and Triassic reservoir rocks (the Stø, Snadd and Kobbe formations). 
Reservoir rocks with medium reservoir quality were encountered both in the Stø and Snadd formations, but the Kobbe formation was poorer than expected. The well was classified as dry. Comprehensive data acquisition and sampling have been carried out. 
The well is the first exploration well in production licence 489. The production licence was awarded in APA 2007 on February 29, 2008. 
The well was drilled to a vertical depth of 3605 metres below sea level, and was terminated 60 metres into the Kobbe formation. Water depth at the site is 187 metres. The well will now be permanently plugged and abandoned. 
Well 7120/12-5 S was drilled by the Polar Pioneer drilling facility , which will now proceed to production licence 488 in the Barents Sea to drill wildcat well 7119/12-4, where Statoil Petroleum AS is the operator.
Source: Press release

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Colombia: Repsol joins Caribbean block group

Repsol Exploracion Colombia will assume a 30% share in the 4 million acre Tayrona exploration block in the Caribbean off Colombia.
Petrobras Colombia Ltd., which has 40% interest, will continue as operator. Colombia’s state Ecopetrol SA has 30%. Repsol’s inclusion is subject to National Hydrocarbon Agency approval.
Ecopetrol said the block “comprises a part of the projects under way off Colombia's Caribbean coast, where Ecopetrol is moving forward with exploration activities with other partners.”
The Tayrona block is covered by a hydrocarbon exploration and exploitation contract signed with ANH in mid-2004.
Source: Press release

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CNOOC's Overseas Investment Plans

China National Offshore Oil Corporation, the parent of CNOOC Ltd., plans to invest approximately $151 billion in the next five years to increase production volumes, according to China Business News. The state-controlled oil explorer will mainly invest in offshore projects to boost its overseas operations. The company is eyeing its cash flow and capital markets for funding this huge investment.
[Read more]
Source: Zacks

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India: Assam-Arakan well tests gas-condensate

Hindustan Oil Exploration Co. Ltd., Mumbai, said the Dirok-2 appraisal well on the 652 sq km AAP-ON-94/1 block in India’s Assam-Arakan basin tested gas-condensate on a drillstem test.
The test covered 6 m in one gas-bearing zone out of a total of 150 m net thickness in 15 gas-bearing reservoirs, according to log interpretation. The test rate was 6.5 MMscfd of gas and 140 b/d of condensate on a 32/64-in. choke. Test depth interval wasn’t disclosed.
HOEC as operator, Indian Oil Corp. Ltd., and Oil India Ltd. have 40.323%, 43.548%, and 16.129% participating interests, respectively, in the exploration phase.
OIL, the block licensee, has an option to acquire a further 30% participating interest in the development and production phase. If OIL exercises the option, the revised participating interests in the development and production phase will be 26.882%, 29.032%, and 44.086% for HOEC, IOL, and OIL, respectively.
Source: Press release

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Container spot rates reach milestone point

After almost six months or 25 straight weeks of falls, container spot rates out of Shanghai managed to put a halt and increase as 2010 came to an end. According to the Shanghai Containerized Freight Index, rates were upwards for all destinations, including the main trading lanes to Europe and US West Coast. Following a 29% drop on average spot rates, the index rose 4% during the 52nd week of 2010.
[Read More]
Source: Hellenic Shipping News

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PetroChina keeps output steady at Daqing, Changqing at record

PetroChina Co Ltd's largest Daqing oilfield produced 40 million tonnes or 800,000 barrels per day (bpd) of crude oil in 2010, the China Petroleum Daily reported on Wednesday.
This was the eighth consecutive year China's largest oilfield had maintained output above 800,000 bpd, after pumping more than 1 million bpd for 27 consecutive years, the newspaper reported.
[Read more]
Source: Reuters

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Lebanon Asks UN to Monitor Israel's Offshore Drilling for Oil, Natural Gas

Lebanon’s foreign minister urged the United Nations to protect its territorial rights in the Mediterranean, where Israel plans to drill for oil and gas.
Ali Shami asked UN Secretary General Ban Ki-moon to ensure that “Israel does not exploit Lebanon’s marine and oil wealth, which lies within its exclusive economic zone,” in a letter sent yesterday, according to Lebanon’s state-run National News Agency. He said Lebanon has submitted maps to the UN to support its arguments over offshore boundaries.
[Read more]
Source: Bloomberg

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Rongsheng budgets $450m for 2011

On January 4th, Chen Qiang, Chairman of Jiangsu Rongsheng Heavy Industries Group, said the shipbuilding industry would still be the focus of the group in next two years.
[Read More]
Source: Asiasis

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JX, PetroVietnam Discover Natural Gas, Condensate in Vietnam Test-Drilling

JX Holdings Inc.’s exploration unit and Vietnam Oil & Gas Group discovered natural gas and condensate while test drilling a block offshore from Vietnam.
The companies will continue to evaluate the commercial viability of the block, known as 16-2, JX Nippon Oil and Gas Exploration Corp. said today in a statement. The block is located about 120 kilometers (75 miles) off the southern coast of Vietnam, the company said.
[Read more]
Source: Bloomberg

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Daewoo awaits first FLNG order

Korea's Daewoo Shipbuilding & Marine Engineering is expected soon to sign its first-ever LNG-FPSO newbuilding contract as its subsidiary DSME E&R (exploration and research), Norway’s Hoegh LNG and Papua New Guinea (PNG)-based Petromin has won approval from Papua New Guinea’s National Executive Council (NEC) on what they are calling the “PNG FLNG” project.
[Read More]
Source: Asiasis

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DRYSHIPS INC. ANNOUNCES SIGNING OF TWO DRILLING CONTRACTS FOR THE OCEAN RIG CORCOVADO AND THE LEIV EIRIKSSON

DryShips Inc., a global provider of marine transportation services for drybulk cargoes and off-shore contract drilling oil services, announced today that its subsidiary Ocean Rig UDW Inc. has entered into firm contracts with Cairn Energy PLC for the “Leiv Eiriksson” and the “Ocean Rig Corcovado” for a period of approximately 6 months each. 

The total contract value including mobilization for the “Leiv Eiriksson” is approximately USD 95 million. The mobilization period will start in direct continuation from the agreed release date from Petrobras. 

The total contract value including mobilization and winterization of the “Ocean Rig Corcovado” is approximately USD 142 million.  

George Economou, Chairman and Chief Executive Officer of DryShips commented: 

“We are pleased to announce the signing of two new contracts with Cairn Energy for the OceanRig Corcovado and the Leiv Eiriksson. We were able to offer the customer a package solution due to the highly specialized nature of our semi-submersibles and also the state of the art drillships. Following the signing of these contracts we are only left with one open drillship, the Ocean Rig Mykonos, that delivers in the fourth quarter of 

2011. We are working to secure employment for the Mykonos and also to further increase the contract backlog. Demand for our units has improved significantly and we hope to announce further contracts in the near future.” 

Source: Press release

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150 ships to be built in Azerbaijan

President of the State Oil Company of Azerbaijan Rovnag Abdullayev noted that in 2010 the results in the sphere of construction were also successful.
Abdullayev added that the construction of the shipyard has been launched and the first ships will be commissioned in 2013.
[Read More]
Source: News.Az

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Gas leak sends 1,300 shipyard workers home

About 1,300 Northrop Grumman Shipbuilding employees were sent home Tuesday after crews found a propylene gas leak at the shipyard, company representatives said.
Crews saw the leak while upgrading the facilities and taking some corrective actions following a fire at the yard on Dec. 16, spokesman Bill Glenn said. The leak was discovered just before noon on the dock, near LPD 24, and amphibious transport ship named Arlington.
[Read More]
Source: gulflive

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Uljanik is Croatia´s star shipyard

The Croatian Prime Minister Jadranka Kosor has visited Uljanik shipyard in Pula (Istria) on the first day of the New Year, giving her support to one of the rare Croatian shipyards that are operating at profit. "Uljanik is the first shipyard in Croatia which the European Commission judged as not having problems. This opens a new page in the life of shipyards," said Kosor.
[Read More]
Source: Balkans

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Statoil Gets PSA Constant to Carry Out Drilling Ops with West Alpha Rig

Statoil Petroleum AS (Statoil) has received consent to carry out drilling and completion on the Alve field and well intervention on the Urd field with the mobile drilling facility West Alpha.
[Read more]
Source: Offshore Energy Today

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First step to salvaging Big Blue: remove oil

Guam - A unified command has been established with the U.S. Coast Guard, the Guam Environmental Protection Agency and the Guam Shipyard to manage the recovery of a partially sunken dry dock. Concerns are focused on the safety of responders and mitigate the pollution threat as tens of thousands of gallons of wastewater, oil and diesel was believed to have been aboard "Big Blue".
[Read More]
Source: Kuam News

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Shell Oil Faces Another Setback in Beaufort, Chukchi Seas

Shell Oil is facing another setback in its plans to drill exploratory wells off shore in the Beaufort and Chukchi Seas.  Some Alaska Native and conservation groups have succeeded in challenging the oil company’s clean air permits that would have allowed the drilling to go forward this summer. Shell external affairs director Curtis Smith said without the permits the company can’t proceed with its drilling plans in 2011.
[Read more]
Source: Alaska Public Radio Network

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Norwegian TTS lands NOK130m marine equipment orders

Norwegian ship-equipment maker TTS Group ASA (OSL: TTS) said on Tuesday it has won supply contracts totalling NOK130m from shipyards in Japan, South Korea and Romania.
TTS has agreed with shipbuilders Hyundai Heavy Industries (SEO: 009540) and Hyundai Mipo Dockyard (SEO: 010620) to supply hydraulic-driven winch systems for NOK50m. Delivery will take place within 2011-2013.
[Read More]
Source: Trading Markets

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Hardy Oil and Gas Announces Drilling Update

Hardy Oil and Gas plc, the oil and gas exploration and production company focused in India, today provides an update on the drilling of the KG-D9-B3 well, the second exploratory well on the Company's D9 (KG-DWN-2001/1) exploration licence.
The well was drilled to a total depth of 3,829 m MDRT by the Transocean drillship 'Discoverer India' in a water depth of 2,948 m at a location some 47 km away from the nearest well. The well encountered two Tertiary aged reservoir quality sand packages of 70 and 40 m gross thickness respectively, in which gas shows ranging from 6 to 9 percent were recorded. Testing was carried out with the MDT tool which suggests water gradient in the sand packages. The well has been plugged and abandoned.
The D9 exploration licence is located in the Krishna Godavari Basin on the East Coast of India and covers an area of approximately 11,605 km2. Hardy holds a 10 percent participating interest in the licence which is operated by Reliance Industries Limited.
Source: Press release

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Norway: Barents duster finds reservoir rock

Eni Norge AS, operator of Production License 489 in the Barents Sea off Norway, will plug the 7120/12-5 wildcat as a dry hole even though it encountered rocks of reservoir quality.
The well, in 187 m of water 50 km west of Goliat field and 115 km northwest of Hammerfest, was drilled to search for hydrocarbons in Jurassic and Triassic reservoir rocks of the Sto, Snadd, and Kobbe formations.
It encountered rocks of medium reservoir quality in the Sto and Snadd formations, but the Kobbe formation was poorer than expected. The well, first on the license, was classified as dry. Comprehensive data acquisition and sampling have been carried out, said the Norwegian Petroleum Directorate.
The well went to a true vertical depth of 3,605 m below sea level. Drilling stopped 60 m into the Kobbe formation.
The Polar Pioneer rig will move to PL 488 in the Barents where Statoil Petroleum AS will drill the 7119/12-4 wildcat.
Source: Press release

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Su Shulin and Antonio Brufau discuss future cooperation between Repsol and Sinopec

Repsol Chairman Antonio Brufau and Sinopec Chairman Su Shulin today in Madrid presided over the first joint meeting at the top corporate level between both companies following the agreements reached in Brazil.
At the meeting, both chairmen agreed to create working groups to analyse new business opportunities worldwide.
Both Brufau and Shulin expressed their desire that the Repsol-Sinopec alliance goes beyond the agreement in Brazil.
Quotes by Antonio Brufau and Su Shulin
Antonio Brufau: “There are significant synergies between Repsol and Sinopec, and the relationship between both companies is ideal to continue reinforcing our alliance worldwide in new business areas.”
Su Shulin: “The successful co-operation between Sinopec and Repsol reflects the shared desire of both companies to start a long-term and extensive partnership. We are committed to making every effort to consolidate and develop this relationship with Repsol in the future.”
Source: Press release 

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U.S. to ease requirements on some deepwater projects

The Obama administration on Monday eased new environmental barriers to some oil and gas deepwater projects, but companies will still have to meet stringent regulations before drilling resumes.
[Read more]
Source: Reuters

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W&T Offshore Announces 2011 Capital Budget

W&T Offshore, Inc. announced today that its Board of Directors has approved the Company's 2011 Capital Budget of $310 million, excluding the pending acquisition of the Gulf of Mexico producing shelf property under letter of intent with Shell Offshore Inc. and other potential acquisitions. The Budget contains capital to drill 14 wells, including 10 exploration and four development wells.  Of those 14 wells, five are on the conventional shelf, one is in the deepwater, two target the deep shelf of the Gulf of Mexico, and six wells are located onshore.  We anticipate fully funding our Budget with internally generated cash flow.
Tracy W. Krohn, Chairman and Chief Executive Officer, stated, "Our capital budget for 2011 offers a balance of onshore, offshore, high potential exploration and low-risk exploitation/development activity, with an emphasis on oil projects. While this budget does not include acquisitions, including the pending acquisition of a property from Shell, we have adequate liquidity to enhance our 2011 program with asset purchases and joint ventures.  Our intent in 2011 is to continue to purse acquisitions as we did in 2010 and before.  As we enter 2011 we are actively evaluating several opportunities and expect to complement our drilling and exploitation projects with attractive acquisitions."
Source: Press release

Posted on 1/05/2011 / 0 comments / Read More

BP's former head of drilling picks up £1m golden hello at Petrofac

BP's head of exploration and production at the time of the Gulf of Mexico oil disaster has secured himself a job as a senior director in another oil company – complete with £1m "golden hello".
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Source: The Guardian

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Desire Petroleum appoints new finance director as search for oil continues

Oil exploration firm Desire Petroleum has appointed a new finance director as it continues to search for oil off the Falklands Islands.
Desire (DES) has revealed that Eddie Wisniewski, currently a non-executive director, has been appointed to the role.
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Source: Birmingham Post.net

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Kosmos Energy Names John R. Kemp III Chairman, Brian F. Maxted President and CEO

Kosmos Energy announced that John R. Kemp III has been named Chairman, and Brian F. Maxted has been promoted to President and Chief Executive Officer and made a member of the company’s Board of Directors.
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Source: Offshore Energy Today

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Tap Oil Announces Zola-1 Well Drilling Update

Tap Oil Limited provides the following update on the Zola-1 exploration well, offshore Carnarvon Basin, Western Australia.
Location / Proposed Depth
The Zola-1 well is located in permit WA-290-P, immediately south of the giant Gorgon gas field in the Carnarvon Basin, Western Australia. The well is being drilled in 285 metres of water and the primary Mungaroo Formation target will be intersected at approximately 4,300 metres below sea level.  Further secondary targets will see the well drilled to a target depth of 5,000 metres.
Progress
During the period from 06:00 hours WST on 29 December 2010 to 06:00 hours WST on 05 January 2011, Zola-1 was at a depth of 3524 metres. The 340mm (133/8”) intermediate casing was successfully pressure tested, prior to evacuating and securing the rig for an approaching cyclone. The cyclone was ultimately downgraded to a tropical depression and the rig has now been re-manned. This morning the operations were continuing focus on making the well ready for drilling out the intermediate casing shoe.
Forward Plan
Drill ahead in 311mm (121/4”) hole to the second intermediate casing point at circa 3,976 metres, where 244mm (9 5/8”) casing will be run and cemented in the hole.
Zola-1 is now expected reach the first target depth in approximately 15 days and reach a final total depth in approximately 25 day, on a trouble free basis.  Upon completion of evaluation the well will be plugged and abandoned in the normal course of offshore operations.
Background
The Zola prospect is a very large Triassic tilted fault block on trend with the giant Gorgon gas field.  One of the largest undrilled structural features in the Carnarvon Basin, Zola is covered by high quality newly reprocessed 3D seismic data and is considered a moderate risk prospect.  Zola is estimated by Tap to contain mean recoverable gas volumes of 1.0 trillion cubic feet with upside potential for 2.0 trillion cubic feet.  The well will test the gas potential of several top and intra Mungaroo Formation sands – the primary reservoir at Gorgon.  In addition it is possible that some Jurassic reservoirs may be developed flanking the main Triassic structure.
Previous drilling in WA-290-P focused on the shallower Jurassic and Cretaceous interval, resulting in the Antiope gas discovery in 2000 and the minor Lauda oil discovery in 2005.
Located close to existing and developing gas infrastructure, Zola would have multiple potential development options should it be a discovery.  Any development at Zola could also encompass the overlying Antiope gas discovery (estimated at ~120 Bcf).
Source: Press release

Posted on 1/05/2011 / 0 comments / Read More