Company Updates

Frogtech unravelling mysteries of Guyana Suriname Basin

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Frogtech believes that its multi-client Guyana Suriname study will help clear up a number of ambiguities associated with a Basin that has proven to be a focal point for the world’s major E&P players. The Canberra-based company said that in 2012 the United States Geological Society had estimated that the Guyana Suriname basin contains 26,000 MMBO of technically recoverable oil. “This makes for the third-most prospective basin in the South American and Caribbean region, the eighth...

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Norway attracts record bids for APA round

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Norway’s Ministry of Petroleum has announced a record application from 39 companies – six more than last year - for new acreage in mature areas on the Norwegian continental shelf as part of the awards in pre-defined areas (APA 2017). The APA 2017 round included blocks in the North Sea, the Norwegian Sea, and the Barents Sea, was announced in May and the application deadline expired on September 1. The Norwegian Ministry of Petroleum and Energy said applications received was more...

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Senex secures Surat Basin lease

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The Palaszczuk Government in Queensland has announced that it is “moving rapidly to boost gas supplies for industry” with confirmation that a Queensland company is the preferred tenderer for a Petroleum Lease on land in the Surat Basin released to supply the domestic market. Minister for Natural Resources and Mines Dr Anthony Lynham said he was very pleased to see emerging gas producer Senex secure the rights to supply such a critical resource for our market. “The Palaszczuk...

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NPD names new exploration director

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The Norwegian Petroleum Directorate (NDP) has appointed Torgeir Stordal as their new exploration director, a position he stepped into on September 1. Stordal, 55, studied applied geophysics and has a Master of Science from the University of Bergen. He has worked for Shell since 1989 where his roles included geophysicist and geologist within exploration and field development. In more recent years, he has held several management positions within exploration. During the period...

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CGG STARTS ESPIRITO SANTOS IV SURVEY OFF BRAZIL

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CGG has announced the start of work on Espirito Santo IV, a large BroadSeis™ 3D multi-client survey in the deep and ultra-deep waters of the Espirito Santo Basin offshore Brazil. The Oceanic Champion is acquiring the survey which is expected to take seven months and will cover 10,300 sq km and be processed at CGG’s Rio de Janeiro Subsurface Imaging center. ‘The high-end broadband sequence will include the latest 3D deghosting, Full-Waveform Inversion (FWI) velocity modeling and...

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Giant Ichthys Venturer FPSO is moored

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The INPEX-operated Ichthys LNG Project’s floating production, storage and offloading facility (FPSO) has been safely moored in the Ichthys Field, 220 kilometres off the north coast of Western Australia. INPEX announced that the 336-metre long FPSO, named Ichthys Venturer, longer than three soccer fields and designed for 40 years of operations without being dry docked, had reached Australia in mid-August and was moored on August 24. “The safe and efficient mooring of the Ichthys...

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AGL to sell gas assets to China

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AGL Energy Limited is selling its North Queensland gas assets to a consortium comprising Chinese gas distribution company Shandong Order Gas Co and Australia energy investment company, Orient Energy. The assets comprise AGL’s 50% interest in each of the Moranbah Gas Project Joint Venture and the North Queensland Energy Joint Venture and AGL’s participation rights in the ATP1103 exploration licence located in the Bowen Basin. The Chinese investor backed Orient Energy is believed to...

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Woodside brings Persephone online

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Woodside has brought its Persephone project online six months ahead of schedule. This was announced by BP, one of six partners with a 16.67% interest in the project along with BHP, Chevron, Shell, Mitsubishi-Mitsui and Woodside. BP said production from five of seven major upstream projects targeted for production in 2017 were now online, with Juniper, offshore Trinidad, and the Woodside-operated Persephone the latest to begin production. This followed the start-ups of the first phase...

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Magseis goes back to black in second quarter

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Norwegian ocean bottom Seismic services provider Magseis returned to profitability in the second quarter of 2017 as revenues rose to $19.4 million from work done in Saudi Arabia and Norway. The company said its survey for Saudi Aramco with the Artemis Athene vessel in the Red Sea, as well as OBN work for ConocoPhillips in the Eldfisk field, off Norway, had booted revenue substantially compared to prior year’s 2Q revenue of $7.7 million. Magseis posted a profit of $3.3 million for the...

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Woodside to shut down Enfield oil field

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Woodside has begun the process of ceasing production from the Enfield oil field in production license WA-28-L off Western Australia and remove the Nganhurra FPSO from the area. The Perth-headquartered oil and gas company has submitted an environmental plan with NOPSEMA to cease production and decommission, dismantle and remove facilities from the oil field, located approximately 52km north-west of Exmouth. Developed using subsea wells, manifolds and flowline systems tied back to the...

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