Archives for February 2020

February 2020

Searcher Completes Offshore Peru OpenSeis 2D & 3D Seismic Datasets

11/02/2020 Posted by Dale

Searcher is pleased to announce the completion of its Offshore Peru OpenSeis 2D and 3D Seismic Dataset as part of its Offshore Peru Multi-Client Campaign.

The Offshore Peru OpenSeis Seismic Dataset consists of both 2D and 3D vintage seismic data which has been rectified in a post-stack reprocessing method. The data package comprises of 44,389 km of 2D and 15,526 km2 of 3D seismic data along the coast of Peru.

Offshore Peru offers high impact, moderate-risk exploration in shallow water, with high prospectivity in multiple, unexplored basins, supported by Perupetro that is welcoming foreign investment.

ConocoPhillips acquires operatorship of 3D Oil Tasmania permit

04/02/2020 Posted by Dale

3D Oil Ltd, has executed a farmout agreement with ConocoPhillips Australia whereby the latter will acquire a 75% operated interest in the T/49P exploration permit in the Otway Basin offshore Tasmania for $5 million cash.

Prior to the deal 3D Oil held a 100% interest in the T/49P exploration permit, which covers 4,960km of the Otway Basin and is located adjacent to the producing Thylacine and Geographe gas fields.

The most recent agreement was finalised with ConocoPhillips on Dec 18.

“The beginning of this relationship represents an important step towards 3D Oil’s overarching strategy, to provide much needed...

PO Valley says ‘Mama Mia’ to first gas production in Italy

04/02/2020 Posted by Dale

Australia’s Po Valley Energy has welcomed the Italian Ministry of Environment giving the Selva gas field development in Northern Italy a green light that has brought the project to the cusp of production.

At the same time the company revealed that final environmental approval for the Teodorico offshore gas project was expected in the March quarter following primary environmental approval in 2019.

Po Valley CEO, Michael Masterman commented:

Coronavirus ‘trumps Middle East’s impact on oil prices’

04/02/2020 Posted by Dale

The UAE’s first confirmed case of the Wuhan coronavirus -- the first confirmed case in the Middle East – has had a greater impact on oil prices than Libyan oil shutdown or Iran-USA tensions.

That’s according to data analytics company GlobalData, who said of the recent outbreak and its influence on markets.

“The Gulf region, and Dubai in particular, is a major travel and business hub between Asia and Europe. Its links with China have been an important part of the region’s development in recent years.

Shearwater secures back-to-back work with 3D survey for Reliance in India

04/02/2020 Posted by Dale

Shearwater has been awarded a 3D broadband marine seismic acquisition contract by Reliance Industries in the Bay of Bengal, India. The project is scheduled to commence in Q2 2020.

The survey covers 1,500 sq. km of block KG-UDWHP-2018/1 in the Krishna-Godavari basin and will be executed by the Polar Duchess using a Dual source design, Shearwater has announced.

“We are pleased to add Reliance as a new customer with this award for the coming season in India” said Irene Waage Basili, the CEO of Shearwater GeoServices. “This is the third contract award we have won in India in recent weeks.