Archives for September 2020

September 2020

APPEA salutes Anthony Lynham

15/09/2020 Posted by Dale

Australia’s oil and gas industry has paid tribute to Dr Anthony Lynham following his decision to retire from politics at the upcoming Queensland election.

APPEA Chief Executive Andrew McConville applauded Dr Lynham for his outstanding leadership, distinguished parliamentary career and commitment to growing the resources sector.

“The industry applauds Dr Lynham’s achievements in helping to grow the oil and gas sector to create jobs and investment and for always being available to engage with the industry,” Mr McConville said.

“Dr Lynham has been a driving force in opening up regional Queensland for natural gas exploration to supply...

Woodside buys Cairn Energy’s stake in Sangomar

08/09/2020 Posted by Dale

Woodside has entered into a binding sale and purchase agreement to acquire Cairn’s entire participating interest in the Rufisque Offshore, Sangomar Offshore and Sangomar Deep Offshore (RSSD) joint venture.

Australia's largest independent energy company announced that while the sale was subject to regular approval from the Senegal government and Cairn shareholders, the company had exercised its pre-emptive rights and completion was targeted for the fourth quarter of this year.

Thereafter, Woodside’s equity interest is set to increase to approximately 68.33% in the Sangomar exploitation area and to 75% for the remaining RSSD evaluation area. Woodside will remain the operator.

On 17 August Woodside blocked the sale of Cairn’s stake in RSSD to Russian energy company Lukoil.

Equinor signs on for DUG McCloud expertise

04/09/2020 Posted by Dale

High-performance computing experts DUG Technology and Norwegian energy giant Equinor have signed a multi-year deal covering seismic processing and imaging technology.

Under the deal, Equinor will replace existing third-party technology with an integrated solution using DUG McCloud, an innovative platform that allows clients to mix and match DUG's high-performance computing as a service (HPCaaS), seismic processing and imaging (P&I) services, and the DUG Insight geoscience software.

DUG Managing Director Matthew Lamont said the team at Equinor thoroughly evaluated every aspect of the DUG McCloud platform.

“We demonstrated that the ease of use, effectiveness and productivity of DUG Insight within the McCloud environment have the potential to provide short and long-term benefits, not to mention saving considerable money along the way,” Dr Lamont said.

Shearwater GeoServices announces 3D seismic acquisition agreement with ION

04/09/2020 Posted by Dale

Shearwater GeoServices has announced a new 3D seismic acquisition award for ION Geophysical’s UK Mid North Sea High (“MNSH”) program.

The Amazon Warrior will spend approximately one and a half months acquiring the initial phase of the MNSH 3D survey in Q3 2020 under an agreement that provides Shearwater a commercial interest and revenue sharing mechanism.

This survey is part of a larger program proposed by ION to be acquired 2020-2021. The agreement also establishes a framework for the use of Shearwater’s vessels for ION 3D multiclient projects with conditional links to potential upcoming projects.

“ION is pleased to collaborate with Shearwater on the MNSH 3D multi-client program,” stated Chris Usher, ION’s President and Chief Executive Officer. “Sh

Sercel delivers first WiNG to Turkey

04/09/2020 Posted by Dale

Sercel announced that it has completed its first delivery of WiNG, its next-generation wireless land nodal acquisition system. Turkish Petroleum International Company (TPIC), a long-standing Sercel client, has selected a WiNG system for upcoming seismic acquisition projects in difficult-to-access mountainous areas of Turkey.

WiNG meets TPIC’s requirements for optimal operational efficiency and delivery of the highest-quality seismic data to the processing centre. This is achieved through the combined benefits of WiNG’s System-Certified Data concept and the proven high performance of Sercel’s QuietSeis®, the industry’s only third-generation MEMS sensor.

WiNG delivers System-Certified Data thanks to its Data Completion Manager (DCM), a unique central software platform that significantly improves and automates the assignment of data collected in the field.

Seabird revenue soars from Ocean Bottom Node activity

01/09/2020 Posted by Dale

Norwegian seismic company Seabird has posted third-quarter results revealing a 196% increase in revenues year-over-year to $16 million, up from $5.4 million a year ago.

In the third quarter of 2019, however, Seabird’s losses dipped to $5 million, compared to a loss of $4,6 million in the corresponding period a year earlier.

The company had five vessels in operation during the quarter, representing 68% fleet utilisation, contrasting with three vessels on projects (55% utilisation) in the second quarter of 2018.

Seabird said day rates had increased 30% year-on-year and it expected rising demand in OBN seismic in the fourth quarter of this year.

CGG adds second Azimuth to Northern Viking Graben Survey

01/09/2020 Posted by Dale

CGG has announced the commencement of a new multi-client 3D survey in the Northern North Sea. The survey will provide a second azimuth over CGG’s existing Northern Viking Graben (NVG) multi-client 3D survey and extend into open acreage on offer in the UK 32nd License Round.

The new survey will acquire approximately 2,000 sq km of additional data in an E-W direction. This new data will be processed together with the existing N-S data, using CGG’s latest velocity modelling and imaging technology, to produce a dual-azimuth volume.

The added azimuth, together with CGG’s advanced processing, will specifically address and improve the imaging of multi-directional fault patterns prevalent in the region.

Brazil dominates global deployment of upcoming FPSOs

01/09/2020 Posted by Dale

A total of 18 planned and announced Floating Production Storage and Offloading (FPSO) projects are expected to be deployed offshore Brazil during the outlook period 2020–2025, the highest among the countries globally, according to GlobalData.

The company’s report: ‘Global FPSO Industry Outlook, 2020−2025 – Petrobras Drives Global Upcoming FPSO Deployments’ reveals that Brazil also leads the crude production capacity globally through upcoming FPSOs with more than 2,000 thousand barrels per day (mbd) during the outlook period.

Among the 18 upcoming FPSO’s to be deployed in Brazil by 2025, eight are planned with identified development plans while nine are early-stage announced FPSOs that are undergoing conceptual studies and may be approved for development.

Shearwater receives Mauritania 3D exploration award from Total

01/09/2020 Posted by Dale

Shearwater GeoServices has announced an award for a large towed streamer 3D acquisition and Fast Track processing project by Total.

“This award confirms that our strong client focus and leadership of the consolidation in the marine geophysical industry, has positioned us well to navigate through these challenging times,” said Irene Waage Basili, the CEO of Shearwater GeoServices.

The exploration survey covers 6,000 sq. km in the C15 and C31 Blocks using an ultra-wide tow Flexisource configuration, the largest triple source spread to date, together with Fast Track processing enabled by Shearwater’s proprietary Reveal software.

The two-and-a-half-month survey is scheduled to commence in Q3 2020, adding to other recent activity in North West Africa for Shearwater, and will be carried out by the SW Empress (formerly “Polar Empress”).