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US sanctions appear to have prompted a change in ownership. It is unclear how the new arrangement will impact Venezuela’s diminishing ability to export crude oil. The US re-imposing sanctions on Iran has prompted Total to consider dropping its stake in a project designed to bolster output from the world’s largest gas field. With Iran re-entering the global oil market, this article looks at the state of Iran's oil industry, the condition of its fields, its use of technology, and its present and future production potential. Russian oil production has remained on a growth path despite the plunge in oil prices because producers have built their business on producing oil for less than USD 30/bbl.
Africa (Sub-Sahara) Marathon Oil has produced first gas from its Alba B3 compression platform offshore Equatorial Guinea. The startup enables the company to convert approximately 130 million BOE of proved undeveloped reserves, which more than doubles its remaining proved developed reserve base in the country. Marathon holds an operating interest of about 65% in the field, with Noble Energy holding the remaining stake. Aminex said that gas production from the Kiliwani North-1 well in Tanzania has reached 30 MMcf/D (about 5,000 BOE/D). The project's commissioning process is expected to conclude with a well test to determine the optimal production rate, which previous test data suggest will be approximately 30 MMcf/D, the company said. The operator of the Kiliwani North Development License, Aminex holds a 54.575% interest in the well.
Africa (Sub-Sahara) Tullow Oil announced in mid-August that first oil has flowed from the Tweneboa, Enyenra, and Ntomme (TEN) fields offshore Ghana, which was on time and on budget for the project's development plan approved by the government in May 2013. The company expects oil output to ramp up gradually through the rest of the year toward a production facility capacity of 80,000 B/D. Tullow is the operator of the TEN fields with a 47.18% stake. Its joint-venture partners are Anadarko (17%), Kosmos Energy (17%), Ghana National Petroleum Corporation (15%), and PetroSA (3.82%). Asia Pacific Rosneft has made a discovery at the PLDD well in the Wild Orchid gas condensate field in Block 06.1 of the Nam Con Son Basin offshore Vietnam. The discovery is being evaluated for the volume of reserves and commercial attractiveness, and there is a potential synergy with the nearby Rosneft-operated Lan Tay production platform, the company said.
Africa (Sub-Sahara) ExxonMobil will drill its first exploratory well offshore Liberia this month, the company announced on 18 October. Liberia has no oil production at present. Solo Oil plans to spud the Ntorya-2 appraisal well in Tanzania next month. The drilling pad is a mile southwest of the 2012 Ntorya-1 discovery well, which was tested at rates of 20.1 MMcf/D of gas and 139 B/D of condensate. An independent report estimated the discovery to hold 153 Bcf of gas in place, of which 70 Bcf is considered a gross best-estimate contingent resource. A gross best estimate of more than 1 Tcf of gas in place has been made for the Ntorya prospect as a whole, in which the company has a 25% interest. Asia Pacific BP has decided to abandon drilling plans in the Great Australian Bight offshore southern Australia, an area in which prospective drilling has long been contested by environmentalists.
Africa (Sub-Sahara) Shell has initiated a two-well drilling program in blocks 1 and 4 of the Mafia Deep basin offshore Tanzania. Drilling is taking place in water depths of up to 7,545 ft, with the company and its joint-venture partners Pavilion Energy and Ophir Energy investing almost USD 80 million in the program. The two wells will meet the remaining requirements in the exploration licenses issued by the Tanzanian Ministry of Energy and Minerals. Asia Pacific Petronas has begun gas production from the world's first floating liquefied natural gas (FLNG) facility, the PFLNG SATU, at the Kanowit field offshore Malaysia's Sarawak state. The first-gas milestone marked the onset of commissioning and startup for the FLNG facility, preceding commercial production and initial cargo shipment. The facility is fitted with an external turret for operating in water depths of 229 ft to 656 ft. It will extract gas through a flexible subsea pipeline for the liquefaction, production, storage, and offloading of LNG at the field.
The complete paper demonstrates the benefits of honoring data measurements from a multitude of potential sources to help engineers do a better job of including more diagnostics into routine operations to provide additional insight and result in improved models and completion designs. This paper updates a previous case study and presents the results of actual implementation of an optimized steam-injection plan based on the model framework. By measuring which tests best predicted the fractures observed at the Hydraulic Fracturing Test Site, Laredo Petroleum developed a method it hopes will improve fracture modeling in other places. In the complete paper, a new, fully coupled implicit tool was used to model an onshore Omani asset with multiple reservoirs, each featuring different fluids and multiple networks. The complete paper aims at a better understanding of the effect of channel content in complex fluvial channel systems on well-test-derivative responses.
Landmark deal called most significant since 1979 peace treaty. The second round will offer 19 offshore blocks clustered in five zones to continue natural gas development in the eastern Mediterranean’s Levant Basin. This paper describes the successful delivery of one ultrahigh-rate gas well (more than 250 MMscf/D) completed in a significant gas field offshore Israel with 7-in.
Genel Energy said that one of its wells drilled to appraise the northern end of the Taq Taq oil field in the Kurdistan region of Iraq encountered oil-bearing reservoirs. The main objective of the well, which had been drilled since February, was to reduce uncertainty about the free water level in the field's north flank. Further development of the Cretaceous reservoir had been deferred pending the test program results. The company said the well, which was drilled to a measured depth of 10,171 ft, encountered good quality Cretaceous Shiranish and Kometan reservoirs but that it was too early to estimate the impact of the results on reserves, production, or future investment. The field now produces a gross 15,100 B/D of oil.