Fugro starts surveying Hail and Ghasha fields in UAE
Netherlands-based company Fugro started conducting geophysical and geotechnical surveys for Artelia, as a part of Abu Dhabi National Oil Company’s (ADNOC) Hail and Ghasha gas development.
Situated off the Arabian Gulf, the Hail and Ghasha gas development forms an important part to ensure sustainable and economic gas supply to the UAE.
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Survey contracts were awarded to Fugro through a competitive bidding process.
Fugro has already mobilised specialised equipment to the Ghasha field such as self-elevating platforms for geotechnical work and crew accommodation.
Alcatel Submarine Networks wins Johan Sverdrup PRM contract
Alcatel Submarine Networks secured a contract from Statoil for permanent reservoir monitoring (PRM) services at the Johan Sverdrup field in the Norwegian Continental Shelf.
The seismic technology will serve as an important contributor in optimising recovery from the field.
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By GlobalDataJohan Sverdrup project director Kjetel Digre said: “Johan Sverdrup will make up a significant part of Norwegian oil production going forward and has a lifespan of over 50 years, so it is important that we work systematically to maximise value and ensure as high a recovery factor as possible from the field.
“PRM plays an important role in this, and will be a key tool in realising the 70% recovery ambition on Johan Sverdrup.”
Study finds shale gas is one of the least sustainable ways to produce electricity
Research conducted by the University of Manchester found that shale gas is one of the least sustainable options for producing electricity, once socio-economic factors are taken into account.
The results, published today in the Science of the Total Environment journal, found that for shale to become a sustainable energy source large improvements would be needed, including a 329-fold reduction in environmental impacts and a 16-fold increase in employment.
Additionally, the environmental and social sustainability of shale gas would need to improve by up to a 100 times for it to compete with domestic natural gas and imported LNG.
It is the first major study to also consider the economic and social sustainability of shale gas in the UK, rather than just the environmental impact. Assuming each of these criteria are equally important, shale gas ranked between fourth and eighth when compared to coal, nuclear, natural gas, liquefied natural gas (LNG), solar photovoltaics (PV), wind, hydro and biomass.
ADNOC awards FEED contracts for three fields offshore Oman
Abu Dhabi National Oil Company (ADNOC) has awarded two front-end engineering design (FEED) contracts for its planned offshore ultra-sour gas mega-project to Bechtel (UK) and TechnipFMC (UAE).
The gas project consists of Hail and Ghasha, and Dalma fields, located in the north-west offshore area of Abu Dhabi.
Bechtel (UK) secured the contract for Hail and Ghasha fields, while TechnipFMC (UAE) received for the Dalma field.
The offshore ultra-sour gas mega-project could meet 20% of the country’s gas requirement by the second half of the next ten years.
UAE Minister of State and ADNOC Group CEO Dr Sultan Ahmed Al Jaber said: “The growth in energy demand in Abu Dhabi, and the wider UAE, has prompted ADNOC to further harness its gas resources, as part of its 2030 smart growth strategy.”
Chevron discovers oil in US Gulf of Mexico deepwater
Chevron Corporation has discovered oil at Ballymore prospect in the US Gulf of Mexico.
This prospect is located in the Mississippi Canyon area of the US Gulf of Mexico, three miles from the Chevron’s Blind Faith platform.
Located at water depths of 6,536ft, the initial well at the prospect was dug at a total measured depth of 29,194ft and found more than 670ft net oil pay with high reservoir and fluid characteristics.
The company is currently drilling a sidetrack well to analyse the discovery in order to commence further development options.
Energean awards drilling contract to Stena for Karish field, offshore Israel
An Energean Oil & Gas subsidiary awarded a contract to Stena Drilling for the development drilling of the Karish field, offshore Israel.
Under the contract, Stena Drilling will deploy the Stena Forth drillship to drill three development wells in the first quarter of next year.
The contract is conditional upon Energean’s final investment decision (FID) regarding the Karish and Tanin gas fields.
In a statement, Energean Israel said: “Energean considers this to be a significant step in the development of Karish and part of a development plan, which targets supplying gas to the growing Israeli gas market.”
Noble Energy to sell 7.5% stake in Tamar field for $800m
US-based Noble Energy signed an $800m definitive agreement to sell Tamar Petroleum a 7.5% working interest in the Tamar field, offshore Israel.
Under the deal, Noble will receive around $560m in cash and 38.5 million shares of Tamar Petroleum. The proposed sale comes after the company previously divested 3.5% of the Tamar field in mid-2016.
The total value of both transactions stands at around $1.25bn, with nearly $1bn of this in the form of cash.
Husky Energy gains regulatory clearance to restart SeaRose operations
Husky Energy is set to resume operations at its SeaRose project off the coast of eastern Canada after receiving clearance from regulators.
Canada-Newfoundland and Labrador Offshore Petroleum Board (C-NLOPB) has revoked the notice issued to Husky Energy company earlier this month to suspend operations for the SeaRose floating production, storage and offloading (FPSO) vessel and associated facilities.
The notice was issued after it was adjudged that Husky Energy had failed to meet regulations relating to its ice management plan by not disconnecting the vessel and sailing away when an iceberg entered its quarter-mile exclusion zone in March 2017.
Blackstone and Blue Water Energy to invest $1bn in Mime Petroleum
Private equity firms Blackstone Energy Partners and Blue Water Energy (BWE) reached an agreement to invest up to $1bn in Mime Petroleum, a newly formed development and production company.
Founded last year by BWE, Mime Petroleum is mainly focused on strengthening position in existing fields and licences on the Norwegian Continental Shelf (NCS).
The company’s working model will include the acquisition of assets on the NCS, in addition to pursuing production optimisation, developments, and near-field exploration opportunities.
Total to gain interest in Gulf of Mexico’s Anchor discovery
Total signed a deal to buy Samson Offshore Anchor from Samson for an undisclosed amount.
Samson Offshore Anchor has a 12.5% interest in four blocks covering the Anchor field, which is a significant discovery in the Gulf of Mexico (GoM), US.
The agreement also covers a 12.5% stake in the nearby exploration block Green Canyon 761, in which Total currently holds a 25% stake.
ExxonMobil to acquire offshore exploration acreage in Ghana
ExxonMobil signed an agreement with the Government of Ghana to acquire exploration and production rights for the Deepwater Cape Three Points block.
The petroleum agreement is subject to parliamentary ratification.
Located 92km off the coast of Ghana, the Deepwater Cape Three Points block spans an area of nearly 366,000 acres in water depths ranging between 1,550m and 2,850m.
Norway grants 75 offshore exploration licences
Aker BP, Statoil, Shell, Total are among several companies that recently secured some of the 75 offshore exploration licences in Norway.
Of the 75 licenses granted, 45 are in the North Sea, 22 in the Norwegian Sea and eight in the Barents Sea.
This is the highest number of licenses ever granted by Norway under the annual predefined areas (APA) licensing round.
Launched in 2003, the APA licensing round is intended to boost exploration and development of discoveries near those existing fields with infrastructure facilities.
BP to assume additional $1.7bn charge for Deepwater Horizon disaster
BP is set to assume a further $1.7bn post-tax impairment charge on expenses for the Deepwater Horizon oil spill, which will take the total cost of the disaster borne by the company to more than $65bn.
The charge will be included in the company’s fourth-quarter report.
This spill continues to affect the company even after eight years.
The settlement claims so far cost the company around seven times more than its original estimation.
Nearly 400,000 cases were filed by businesses against the company. Of these, several hundreds of claims are yet to be closed, thereby increasing the chances of expenses growing further than anticipated.
The court has reviewed more than 99% of the cases, some of which, according to the company, are false.
