Statoil strikes oil and gas with wildcat

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Norway’s Statoil has struck oil and gas at a wildcat well in the Norwegian sector of the North Sea. This comes after the Norwegian oil and gas E&P, as operator of Gimle Unit and production licence 193, had completed drilling the 34/10-55 S well. The Norwegian Petroleum Directorate said Statoil had encountered a total oil and gas column of about 170 meters, of which 60 meters are in sandstone with good to very good reservoir properties in the Statfjord group and 10 meters in sandstone with moderate to good properties in the Lunde formation. The well was drilled by the…

OGA unveils UK offshore frontier licence awards

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The Oil and Gas Authority (OGA) has offered for award 25 licences for 111 blocks or part blocks to 17 companies in the 29th Offshore Licensing Round to enable further exploration and production across frontier areas of the UK Continental Shelf (UKCS). The 29th Licensing Round was the first licensing round in two decades to focus solely on frontier, under-explored areas of the Rockall Basin, Mid-North Sea High, and part of the East Shetland Platform. It attracted applications from 24 companies for 113 blocks when it closed in October 2016. OGA said all areas generated interest, with highlights including: three…

Eni savours sweet taste of crude in Mexico

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Italian oil company Eni announced it had “successfully drilled” the Amoca-2 well in the shallow waters of Campeche Bay, offshore Mexico, confirming the presence of oil in multiple reservoirs. Amoca-2, located in the Contractual Area 1, 200km west of Ciudad del Carmen in 25 meters of water, is the first well drilled by an international oil major in Mexico since the 2013 Energy Reform. The well reached a total depth of approximately 3,500 meters and encountered approximately 110 meters of net oil pay from several “good quality Pliocene reservoir sandstones, of which 65 meters were discovered in a deeper, previously…

CGG and Eidesvik create new fleet ownership company

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CGG has announced the creation of a new company with longstanding partner Eidesvik and its Nordic lenders that will establish a new ownership set-up for its operated fleet. In a statement CGG said the new company would take possession of the five vessels currently owned by CGG which were cold-stacked, Geo Coral, Geo Caribbean, Geo Celtic, CGG Alize and Oceanic Challenger, as well as the two vessels co-owned by CGG and Eidesvik, Oceanic Vega and Oceanic Sirius. The new company will be jointly and equally owned by CGG and Eidvisk and will carry all outstanding debts related to the vessels.…

PTTEP Contracts Jack-up Rig

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Offshore drilling contractor Noble Corporation has been awarded a contract by PTTEP for redeployment of the rig Tom Prosser in Australia for a single new production well at Montara. The 2014-built jack up rig, which had been warm stacked in the United Arab Emirates since last October on expiry of its drilling contract with Quadrant Energy, will be deployed for two months from early September to late October 2017 at a day rate of US$130,000. It will be involved in work for PTTEP in the Bonaparte Basin in which the Montara oil project is located as well as the undeveloped…

SA ups the PACE to hit the gas

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Against the gloomy background of a looming gas famine and associated energy crisis in Australia, South Australia announced the recipients of the first round of PACE Gas Grants with five exploration and development projects to share in $24 million in State Government funding. Energy Minister Tom Koutsantonis said the grants would generate up to $174 million in new investment by oil and gas companies in local production projects. In a statement Mr Koutsantonis said gas extracted through the grant scheme will be offered to South Australian electricity generators first, increasing the affordability of supply and putting downward pressure on power…

Senex accelerates Cooper Basin gas with PACE funding

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Senex Energy said it will accelerate delivery of gas from its Vanessa field in the Cooper Basin with the approval of $5.82 million in funding through the South Australian Government’s PACE Gas Grant Program. Senex Managing Director and CEO Ian Davies said that the funding would contribute to the cost of infrastructure to connect the Vanessa gas field with South Australian customers. South Australia’s Plan for Accelerating Exploration (PACE) Gas Grant Program was launched in late 2016 to help secure new and significant gas supplies for the state. “This gas project will deliver new gas primarily from the Senex-operated Vanessa…

CGG completes processing of Carabao regional multi-client study.

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CGG announced on March 15 that the final geoscience data for its Carabao multi-client study, acquired offshore the Philippines was ready for delivery. The study integrates over 8,500 km of new broadband prestack time-migrated 2D BroadSeis™ data and complementary marine gravity and magnetic data acquired with the seismic. CGG said the BroadSeis data were acquired from May to August 2016 and processed in CGG’s Singapore imaging center, using the latest broadband imaging technology. The survey connects diverse sedimentary basins across the Philippines from West Palawan (the only currently-producing basin in the country), across the Sulu Sea, to the Philippines Mobile…

Geoscientist employment recovery stalls

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The improvement in employment prospects for Australia’s geoscientists evident during 2016 came to an end in the final quarter of 2016. This was revealed in a report released by an AIG Australian Geoscientist Employment Survey from data collected during February 2017 which elicited 485 responses with an estimated one in 10-15 geoscientists contributing to the survey. At 31st December 2016, the unemployment rate amongst Australian geoscientists was 14.4% and the under-employment rate was 19.5%, up slightly from 13.9% and 18.8% respectively at the end of September 2016. More than half of Australia’s self-employed geoscientists were unable to secure more than…

Australian Duncan Eley takes CEO reins at Polarcus

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Marine seismic player Polarcus has appointed Monash University graduate Duncan Eley as Chief Executive Officer, replacing Rod Starr who resigned following a two-year period of restructuring, refinancing and reorganisation. This was announced by the Dubai-headquartered company on March 17, with Peter Rigg, Chairman of the Board for Polarcus, commenting: “Rod has made a significant and transforming contribution to the company. He has created an executive team exceptionally well-qualified to continue the company’s development. “Duncan has been responsible for many areas of strength within the company and is a natural successor. The Board is grateful to Rod for his contribution and…

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