Searcher Commences Malvinas Exploration Campaign

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Searcher Seismic has announced its entry into Argentina with four new multi-client projects. Searcher said the first phase comprises an offshore basin analysis report providing a regional framework to understand the offshore basins of Argentina, assisting industry’s exploration efforts. The report has a single stratigraphic scheme with several new play concepts, ranging from Permian to Miocene and is available now, the company added. Phase one includes a 2D seismic reprocessing project (the Malvinas Basin 2D Reprocessing Project) comprising approximately 15,000 km of existing data over the West Malvinas Basin failed rift basin and is now underway. The next phase of…

Norwest finds oil in Xanadu

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Norwest Energy was delighted to report that it had struck oil at its Xanadu-1 well in the Perth Basin, albeit sounding a note of caution that wireline logs still have to be run to deliver a better understanding of the discovery. Norwest, operator of the TP/15 permit in which Xanadu-1 was drilled in shallow waters, 40km south of Dongara, said the conventional oil exploration well had “made excellent progress” since it was spudded on September 4 and evaluation of the prospect is ongoing. Having reached a total depth of 2035m, Norwest confirmed that Xanadu-1 has intersected hydrocarbon bearing reservoirs demonstrated…

Frogtech announces study for Iran blocks bid

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Frogtech Geoscience has announced the release of a trademark ‘Seebase’ study of Northern Iran and the Greater Caspian leading up to the 2017 Iran Bid rounds. The Canberra-based company said the study and GIS “provides comprehensive coverage of the National Iranian Oil Company’s exploration blocks, representing an essential foundation data set for play based exploration enabling companies to bid with confidence. “The study is the first cross-border detailed interpretation of basement architecture covering the geopolitically and geologically complex Northern Iran and Greater Caspian regions, revealing among others, Permo-Triassic rifts in Central Caspian (Scythian-Turan platform),” Frogtech said. “This study echos the…

APPEA lauds gas industry supply efforts

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Australian gas producers are responding to concerns about east coast gas supply with a raft of new contracts announced. APPEA Chief Executive Dr Malcolm Roberts said recent deals showed gas producers are delivering more supply. “The industry acknowledges that the east coast gas market is tight and further supply is needed. Recent announcements have confirmed that approximately another 64 petajoules of gas will be delivered into the market – equivalent to 10 per cent of total demand,” Dr Roberts said. “Since March, a dozen new gas contracts or new projects have been signed or announced [see attachment] to boost supply…

Lebanon extends deadline for offshore licensing bids

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The Lebanese government has extended a deadline by four weeks to October 12 for the submission of bids in the country’s first offshore oil and gas licensing round. Lebanon’s Minister of Energy and Water, Cesar Abi Khalil, made the announcement via the state run National News Agency last week, extending the applications submission deadline which had originally been set for September 15. This followed a recommendation by the Lebanese Petroleum Administration (LPA), which regulates the petroleum sector in Lebanon. The first offshore licensing round in Lebanon had stalled since 2013 due to political issues, but in January this year the…

PESA Distinguished Membership and Meritorious Service Awards – Call for Nominations

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Nominations are called for the PESA Distinguished Membership and Meritorious Service Awards, which recognise outstanding long term commitment to the Society and upstream industry and provision of exceptional service to PESA (at State or Federal level) respectively. Candidates are to be nominated by State Branch Committees to the Federal PESA Executive for approval; both awards will be awarded to successful recipients at a ceremony at the PESA AGM, to be held at the 2018 APPEA Conference.  Closing date for receipt of nominations is 31st October 2017. For further information, conditions of eligibility and nomination forms, click the following link: https://www.pesa.com.au/pesa-membership-awards/

Statoil enters two blocks offshore South Africa

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Statoil has acquired participating interests in two additional offshore frontier blocks, including one operatorship, off South Africa. The ‘Norwegian oil major’ entered its first license in South Africa in 2015, acquiring a 35% interest in the ExxonMobil-operated Tugela South Exploration Right. Last week Statoil said it had completed a transaction with ExxonMobil, acquiring a 35% interest in Exploration Right 12/3/252 Transkei-Algoa. ExxonMobil, as operator, retains a 40% interest and Impact Africa holds 25%. The license covers approximately 45,000 square kilometers in water depths up to 3,000 meters. Statoil said it had also completed a transaction with OK Energy Ltd, acquiring…

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 largest in the world,” Frogtech said in a media release. However, while exploration activity and data acquisition had ramped-up in recent years, results to…

ATO clock is ticking on exploration incentives

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The Australian Tax Office has reminded the exploration sector that it has only 18 more days left to notify intentions of participating in the last year of the Exploration Development Incentive and to lodge the EDI participation form (see ATO website) by September 30. The final year of the Exploration Development Incentive brings to a close the three-year scheme in which the ATO endeavoured to encourage shareholder investment in small exploration companies undertaking greenfield mineral exploration in Australia. It has been capped at a total of $100 million over the three year period. Under the EDI, companies can distribute exploration…

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 than 50 per cent higher than in last year’s APA-round, and approximately 20 per cent higher than the previous…

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