The Oil and Gas Authority (OGA) has launched the 31st Offshore Licensing Round, offering blocks in frontier areas of the UK Continental Shelf (UKCS), supported by government-funded data to stimulate interest in these under-explored basins and assist companies in their activities. A total of 1766 blocks (370,000 km2) of open acreage is now available across the West of Scotland, the East Shetland Platform, the Mid North Sea High, South West Britain and parts of the English Channel, covered by over 80,000 km of high-quality, publicly-available seismic data generated through the 2015 and 2016 Government seismic programmes.
Company Updates
Cliff Head reveals a potential 29-million barrel bounty
Perth-based Triangle Energy has announced that a recently completed static model has unveiled a prospective resource estimate of up to 29 million barrels of oil at its Cliff Head field in the Perth Basin. This represents an 80% increase over previous estimates of 15.7MMbbl in a discovery located 10km offshore in depths of 15-20 metres. The ASX-listed junior explorer said the “near field” prospects are located in close proximity to Cliff Head’s discovered, producing reservoirs where future potential development was well positioned to take advantage of existing pipelines and infrastructure.
USA flags 78 million acres for offshore exploration
The US Bureau of Ocean Energy Management (BOEM) has put approximately 78 million acres offshore Texas, Louisiana, Mississippi, Alabama and Florida up for offer for oil and gas exploration and development. BOEM said acreage offer was in support of President Donald Trump's America-First Offshore Energy Strategy and the region-wide lease sale, scheduled for Aug. 15, 2018, includes all available unleased areas in federal waters of the Gulf of Mexico. “Responsibly developing our offshore energy resources is a major pillar of this Administration’s energy strategy,” said Deputy Secretary of the Interior, David Bernhardt.
Polarcus divests Capreolus multi-client asset
Polarcus has sold its Capreolus 3D survey offshore Australia. Polarcus said the 22,130sq km Capreolus 3D survey was sold by a company subsidiary in return for a cash consideration of US$6.5 million. Polarcus said the transaction would result in a non-cash gain of approximately $4.9 million and is subject to the execution of ancillary agreements with a target closing date on or before July 31, 2018. Last month Polarcus was awarded an XArray 3D marine seismic acquisition project in northwest Europe. The company said the start of the two-month project was imminent.
Seabird set for seismic work in Norway and Asia Pacific
SeaBird Exploration has announced a partnership deal with MultiClient Geophysical to conduct a 6000km multi-client 2D Deep Imaging Campaign on the Norwegian Continental Shelf. The company said the acquiring vessel will tow a single 12,000-meter streamer with a powerful source to image the oceanic and continental crust, for new conceptual geological understanding and improved interpretation of large-scale tectonics. “This leads to an enhanced understanding of the regional geology and may reveal new play models. Harrier Explorer will be used for the project, which is estimated to have a duration of approximately two months,” SeaBird said.
Cooper’s Sole-3 gas well exceeds requirements ahead of production
Cooper Energy has announced that Sole-3, the first of two production wells for the Sole Gas Project located offshore Victoria, is being shut-in for future connection after successful performance of clean-up and flow back operations. Cooper, operator with a 100% interest in the Sole-3 well, located in VIC/L32, said the clean-up and flow back test was conducted on the near-horizontal 97 meter completed section of the Top Latrobe Group sandstone reservoir over a 26-hour period. Analysis of the test data has confirmed that well performance and reservoir deliverability are consistent with pre-drill expectations, Cooper said on Friday.
Bass Oil negotiates extension terms for acquisition of Indonesian oil field
Bass Oil Limited says it has negotiated an extension of its settlement terms with Cooper Energy for the acquisition of its 55% interest in the Tangai-Sukananti KSO in South Sumatra. Under the agreed new payback terms, the timetable for a third payment of $500,000, due 30 September this year, has been deferred until 31 March next year. The fourth and final payment of $770,000, due to be paid by Bass to Cooper Energy by 31 December this year, has now been deferred until 30 June 2019.
Australian Gas Infrastructure Group awarded $170 million N.T. natural gas pipeline contract
Australian Gas Infrastructure Group (AGIG) has been awarded the contract to build a new $170 million Northern Territory gas pipeline for Newmont Mining Corporation. The contract is for AGIG to build, own and operate the new 440-kilometre pipeline which will transport natural gas to Newmont’s Tanami mine sites, about 540km north-west of Alice Springs, in the Northern Territory. The pipeline – to be called the Tanami Gas Pipeline – will connect to the existing Amadeus Gas Pipeline, about 180km north-west of Alice Springs, and link up with supply of gas to Newmont’s Tanami facilities.
Still ‘plenty of discoveries to be made’ on the Norwegian shelf
The Norwegian Petroleum Directorate (NPD) says new and larger discoveries will have to be made for Norway to maintain production of oil and gas after the mid-2020s. This was revealed in the Norwegian regulator’s 2018 Resource Report for Exploration, published on 21 June. The report concludes that there is much remaining oil and gas on the Norwegian shelf, providing significant opportunities in both mature and less explored areas. Increased knowledge, more and improved data, new work methods and new technology will create new exploration possibilities and can yield more profitable discoveries.
Wheatstone Train 2 whistles into motion
Production has started from Train 2 at the Wheatstone Project’s onshore facility near Onslow in Western Australia. Woodside announced that production from the Chevron-operated LNG plant, fed by offshore gas from the lago, Julimar and Brunello fields, had commenced and was running smoothly Woodside CEO Peter Coleman said the safe start-up had demonstrated the success of the project as part of Woodside’s growth strategy and the company’s legacy of safely delivering domestic gas and LNG to Western Australia and the world for over 30-years.