H2Oil & Gas, an Aquarion Group company, has completed a contract to design and supply equipment for a produced water treatment plant in Malaysia. The high pressure (117 bar) system reduces the oil in water content from 3000ppm down to <20ppm with an optimized process design that uses the existing gas in the system, eliminating the use of additional fuel gas used on standard Compact Flotation Units. This design, together with a carefully developed layout, produced a low weight compact skid for use on an offshore module that was at a critical weight limit.
Industry
CGG GeoConsulting and Petroleum Corporation of Jamaica Announce First Reported Discovery of Live Oil Onshore Jamaica
CGG GeoConsulting and the Petroleum Corporation of Jamaica (PCJ) have announced the discovery of two independent live oil seeps from different parts of the island of Jamaica. This significant find marks the first documented occurrence of ‘live’, or flowing, oil from onshore Jamaica and will be of particular interest to oil explorationists focused on Central America and the Caribbean. The oil seeps were found during fieldwork for a recently completed multi-client Robertson Study (Red Book) of the petroleum potential of on- and offshore Jamaica entitled ‘Petroleum Geological Evaluation of Jamaica’ made jointly by CGG GeoConsulting and PCJ.
Investment of $97bn on top ten offshore oil projects to add over 1.6 million barrels per day by 2025, says GlobalData
Over $151.5bn in capital expenditure will be spent over the lifetime of the top ten offshore oil projects to produce 14.3 billion barrels of crude, according to GlobalData, a leading data and analytics company. These ten projects, selected from 236 upcoming offshore projects globally, will contribute incremental capacity of 1,613,319 barrels of oil per day to global supply by 2025. Johan Sverdrup in shallow water Norway is the largest with anticipated peak production at 600,512 barrels of oil per day in 2024 at an estimated cost of $25.4bn.
Top three Saudi oil fields to drive 59% of country’s oil production by 2021
Analysis of Saudi Arabia’s crude oil production shows that over $79.6bn in capital expenditure (capex) would be spent by Saudi Arabia Oil Co on oil projects over the next four years, to ensure that country’s production remains around 11.2 million barrel per day (mmbd) in 2021. The company will have 17 fields producing in 2021, of which 13 are conventional oil fields and four are gas fields producing condensate, according to GlobalData, a leading data and analytics company. Saudi Arabia is expected to spend $79.
Po Valley upgrades maiden 2P reserves to 36.5 bcf for Teodorico.
Po Valley Energy has upgraded its oil and gas reserves and resources for its 100% owned subsidiary Po Valley Operations, with maiden 2P reserves of 36.5 bcf of gas now declared at the company’s offshore Adriatic development Teodorico gas field. Teodorico has the largest gas in place of all of Po Valley’s gas fields and is at an advanced stage of assessment and is ready for development. The company received a preliminary award of the Teodorico Production Concession last year and is advanced in securing environmental approval which is the critical step before the full grant of the production concession.
New CGG GeoSoftware Technology ‘Drives Greater E&P Efficiency’
CGG GeoSoftware has announced new releases across its entire geoscience portfolio. Its complementary HampsonRussell, Jason, PowerLog, InsightEarth, VelPro, and EarthModel FT solutions are the industry’s preferred set of tools and support for multi-disciplinary teamwork at every stage from exploration and development to life-of-field production management. In a media release CGG said recent developments “bring exciting new capabilities within each individual solution while offering increasingly integrated workflows from geology and geophysics to reservoir engineering.
AWU’s gas campaign – ‘a bad idea reheated and served up again’
The Australian Petroleum Production and Exploration Association has torpedoed the ‘Shipping Away Our Competitive Advantage’ report released by the Australian Workers’ Union, saying the release “confirms that the AWU’s campaign to control gas exports is disconnected from economic reality”. “The AWU report’s central claims do not withstand scrutiny,” said APPEA Chief Executive Dr Malcolm Roberts. “The report ignores the latest independent data, such as the Gas Price Trends report to the Council of Australian Governments (COAG) and the December 2017 report from the Australian Competition and Consumer Commission (ACCC).
CGG and Ardiseis complete highest-density seismic survey ever acquired
CGG, its technology partner, and Ardiseis, subsidiary of the Arabian Geophysical and Surveying Company (ARGAS), the Middle East’s seismic acquisition specialist, have announced the successful completion of the world’s highest-density broadband seismic survey ever acquired onshore or offshore. The ultra-high density of the data recorded on the West-Kalabsha survey on behalf of Apache Corporation (Apache) heralds a step-change in the quality of seismic that can be economically acquired in Egypt’s Western Desert and a quantum leap in imaging for the Middle East and North Africa region, CGG said in a media release.
CNOOC plans 132 exploration wells and will splash out up to $12.7B in 2018
China National Offshore Oil Corporation (CNOOC) has announced that it will drill up to 132 exploration wells in 2018 and that it will also bring five projects into production.
The giant Chinese oil and gas major said it will acquired about 19000km² of 3-D seismic data as it also strives to bring the Hess-operated Stampede oil field in the United States, the Weizhou 6-13 oil field, Penglai 19-3 oil field 1/3/8/9 comprehensive adjustment project, Dongfang 13-2 gas fields and Wenchang 9-2/9-3/10-3 gas fields offshore China into production.
Bloomberg said the $12,7 billion that CNOOC planned to spend in 2018 represented the company’s highest capex in four years.
‘AWU missing the point with calls to curb gas exports’
The Australian Workers’ Union should be calling for the immediate removal of state government-imposed bans on natural gas development instead of demanding heavy-handed restrictions on gas exports. APPEA Chief Executive Dr Malcolm Roberts said the gas reservation policies being pushed by the AWU would discourage investment in new domestic gas supply, drive up energy costs for businesses and families and, ultimately, cost union members their jobs. Dr Roberts said the AWU was relying on economic modelling that is dated and ignores evidence that gas prices are falling.