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.
Company Updates
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.
Cooper suspends Sole flow back due to foul weather
Cooper Energy has taken a decision to suspend operations at its Sole well offshore Victoria in the Gippsland Basin due to adverse weather conditions. The E&P company said it had battened down the hatches after the Bureau of Meteorology had red flagged encroaching conditions that were “outside operating limits for the forthcoming weekend.” “In such weather conditions safe operations of the Sole flow back cannot be assured and therefore preparations for the flow back have been suspended until the weather forecast improves.
CGG Completes Mozambique Multi-Client Survey in Zambezi Delta
CGG has completed acquisition of 15,400 km2 of 3D marine seismic data in the outer Zambezi Delta Basin, west of the Beira High. The survey area covers blocks Z5-C and Z5-D and surrounding non-held acreage. This is the first survey to be conducted following the agreement CGG signed with Mozambique’s Instituto Nacional de Petroleo (INP) in 2017 for the acquisition of a new multi-client program. CGG said the fast-track PreSTM data set will be available in Q4 2018 in anticipation of a licence round during 2019 and final PreSDM deliverables will be made available in Q4 2019.
Equinor toasts its ‘first’ oil discovery at the Utsira High
Norwegian multinational energy company Equinor, formerly Statoil, and partners Lundin and Spirit Energy have struck oil in the PL 167 licence at the Utsira High in the North Sea with a discovery estimated to contain 15-35 million barrels of recoverable oil equivalents. The wildcat well 16/1-29S is located in the central part of the North Sea and was drilled by the Deepsea Bergen drilling rig, which is now scheduled for appraisal drilling duties at another nearby well operated by Equinor, 15/3-10 in production licence 025.
Polarcus awarded seismic survey projects in Australia and Europe
Melbana Energy has awarded Polarcus the contract to undertake a 3D seismic survey over the Beehive Prospect, which is one of the largest undrilled hydrocarbon structures in Australia. The Beehive 3D Seismic Survey is being operated by Australian energy company Santos pursuant to an operations services agreement and is fully funded by French major Total and Santos. Melbana Energy said the Beehive 3D survey is expected to be commenced in July and completed before the end of August 2018. “The survey is a typical 3D survey using methods and procedures similar to others conducted in Australian waters,” the company said.
CGG Adds Two New Surveys to Anadarko Basin Coverage
CGG has completed acquisition of its Chickasha 3D survey in Grady and Caddo Counties, Oklahoma. CGG has also purchased the rights to the Ft. Reno 3D survey in Canadian County, adding to its continuously growing data library. CGG said the addition of these two surveys, along with the company's Yukon survey, "will provide extensive coverage of the Scoop and Stack play in the Anadarko Basin and will provide our clients with greater insight into the geology of the area.
Searcher Completes 3D Reprocessing Project in PNG
Searcher Seismic has announced the expansion of its modern, high-quality and exploration focused seismic, magnetic and geochemical focused production offerings offshore Papua New Guinea with the completion of the Laurabada UltracubeTM 3D reprocessing project. The Laurabada UltracubeTM project entailed the reprocessing of two open-file 3D datasets with a modern broadband de-ghosting and pre-stack depth migration sequence over what is highly sought-after acreage. The UltracubeTM is split into two cubes: The Eastern cube is near-shore, shallow water whilst the Western cube is deep-water in the Gulf of Papua.