Archives for January 2018

Prime time live-streamed Mexican acreage bids up for grabs

29/01/2018 Posted by Dale

Mexico, currently a global hotspot for exploration, will tomorrow open bids for awarding its deepwater oil and gas exploration acreage as it enters the Fourth Tender of Round 2. Tenders will be made for license contracts in 29 offshore contractual areas in the oil provinces of Perdido, Mexican Cordilleras and the Salina Basin. The Comisión Nacional de Hidrocarburos (CNH) has released a list of the nine individual companies that qualified for bidding; BHP Billiton, CNOOC, ExxonMobil, Noble Energy, Pemex, Petronas, Shell, Statoil, and Total. Seventeen consortia also taking part and in total the bidders are from 16 different countries. The…

Cairn sees the start line for SNE development

29/01/2018 Posted by Dale

Cairn Energy has flagged development approval for the SNE field offshore Senegal - which counts Woodside, Far and Petrosen as JV partners - by the end of 2018. This follows the third phase of a completed offshore drilling program to further evaluate the SNE field using the Stena Drill Max drillship and an operational update from the independent UK-based independent aiming to expedite developments at SNE. Cairn, as operator, said as part of its three-year evaluation work plan submitted to the Senegalese government, the company and its partners intend to have a government-approved exploitation plan in place by the end…

PO Valley advances Saffron Energy expansion with binding deals and £14m capital raise

29/01/2018 Posted by Dale

Shareholders in Australian gas producer, Po Valley Energy have moved a step closer to benefiting from a three-way deal to become part of a larger European energy play under formal contract signings announced recently. Perth-based Po Valley said the signed binding Share Sale and Purchase Agreement with AIM-listed Saffron Energy meant Saffron would acquire onshore and offshore oil and gas production, development and exploration assets in northern Italy held by Po Valley Operations, a 100%-owned subsidiary of Po Valley Energy. The Transaction is subject to shareholder approval and is part of a broader three-way commercial deal intended to create a…

Astronaut Reilly set for lift-off as US Geological Survey Director

29/01/2018 Posted by Dale

Former astronaut, geologist and current technical adviser to the United States’ Air Force National Security Space Institute, James Reilly, is set to become director of the US Geological Survey. This was revealed by the Trump administration, with the White House announcing on Friday that it would nominate Reilly for the role. Reilly spent 13 years at NASA during which time he participated in three spaceflight missions in which over 856 hours of spacewalks were recorded, the White House said. Prior to his career at NASA, Reilly worked as a chief geologist at Enserch Exploration, where he studied earth structures in…

Shearwater awarded seismic survey off Myanmar

23/01/2018 Posted by Alison McLeod

Marine geophysical services company Shearwater has been awarded a 10,000 square kilometre marine seismic acquisition services contract by Total and Eni for their 2018 exploration program located approximately 300 kilometres offshore Myanmar. Shearwater will deploy the vessel “Polar Empress” for the survey which is expected to take about six months, commencing in January 2018. Shearwater's CEO, Irene Waage Basili commented, “We are pleased to be awarded this significant contract with two oil majors known for their high HSE & quality standards and requirements for leading operational performance. Shearwater has undertaken a significant effort since its inception to pre-qualify for work with major oil companies.…

Schlumberger’s WesternGeco quits marine and land seismic acquisition business

23/01/2018 Posted by Dale

WesternGeco is exiting the marine and land seismic acquisition business, Schlumberger has announced. The company said WesternGeco had not delivered a return on expectations going forward. Schlumberger Chairman and CEO Paul Kibsgaard said: ”With the significant changes seen in customer priorities and buying habits in recent years, we have also continued to evaluate the present and future return prospects for all of our product lines, as we look to maximize all aspects of the Company’s long-term financial performance.” “Based on this in-depth analysis, the only product line that does not meet our return expectations going forward, even factoring in an…

CGG supports 2018 Cameroon Licensing Round

23/01/2018 Posted by Dale

CGG announced that it has an agreement with Société Nationale des Hydrocarbures (SNH), the National Oil and Gas Company of Cameroon, to promote enhanced multi-client E&P data packages and interpretative products, in support of Cameroon’s 2018 Onshore & Offshore Licensing Round opened and conducted by SNH for eight free blocks on offer, located in sedimentary basins offshore and onshore Cameroon. The Licensing Round opened on 15th January 2018 and will close on 29th June 2018. Roadshows will be held in London on 28th February to 2nd March 2018 and in Houston on 7th to 9th March 2018, with the participation…

Significant Italian gas discovery confirmed for Po Valley

23/01/2018 Posted by Dale

Strong gas flows on test have confirmed a significant commercial discovery for Australia’s Po Valley Energy Limited at its new Selva gas field in northern Italy. The company announced the strong gas flows had resulted from successful flow testing of the recently drilled Podere Maiar 1dir exploration well on the Selva gas field within the Podere Gallina Exploration licence in northern Italy (PVE 63% Operator; United Oil & Gas Plc 20%; Prospex Oil & Gas Plc 17%). That drill program intersected two identified gas reservoirs, C1 and C2, in the Medium-Upper Pliocene sands of the Porto Garibaldi Formation. The thickest…

Australian LNG hits record export highs in 2017

23/01/2018 Posted by Dale

Exports of liquefied natural gas (LNG) from Australia hit a record high of 56.8 million tons in 2017, a 26.3 percent spike from 44.9Mt in the corresponding previous year. The increase in LNG cargoes, combined with recovering oil prices, boosted Australia’s 2017 LNG export revenue by 44.1% to $20.51 billion, according to the December LNG report from energy consultancy, EnergyQuest. EnergyQuest CEO, Dr Graeme Bethune, said 2017 was a watershed year with growth demand from China driving historic highs as total Australian LNG exports to China increased by 40.5% from 12.4Mt to 17.5Mt over the period. “China is now Australia’s…

Polarcus goes on a seismic safari in South America

16/01/2018 Posted by Dale

Dubai-based marine geophysical player Polarcus has received a commission for the acquisition of a 3D marine seismic project in South America. Dubai-headquartered Polarcus said that the project would begin in the first quarter of 2018 and was scheduled for approximately two months. The company was coy on details, declining to reveal any financial details, the name of the vessel to be deployed or the name of the commissioning company. The latest deal comes after Polarcus recently extended a collaboration agreement with Norwegian geophysical player TGS for an additional year. The two companies had signed the initial multi-client collaboration and vessel…