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Potential suitors to acquire Chevron’s stake in the LNG project include co-owner and operator Woodside. This contract is for the development of the Lambert Deep and Phase 3 offshore Northwest Australia. The company announced both contract awards simultaneously. The new contract awards could be worth up to $800 million. The Australian company upped its forecast of initial oil production out of the field from 50,000 B/D to somewhere between 75,000 and 100,000 B/D.
The deal follows BP’s divestment of its global petrochemicals business in late June. McDermott’s restructuring comes 5 months after it filed for Chapter 11 protection. The company was struggling with debt since its 2018 acquisition of CB&I. Designed to be a “living” map, it focuses on the largest fixed infrastructure for crude oil and refined products such as trunk pipelines, refineries, and storage facilities. Five key steps for shaping renewable energy projects are discussed.
Global natural gas consumption is projected to grow from 112 Tcf to 163 Tcf in the next 20 years representing an increase rate of nearly 2% annually; this implies not only enormous investment, but also new challenges and search for geoscientists and petroleum professionals with expertise in this new fields. Shales are the most abundant sedimentary rocks in sedimentary basins of the earth; but, small portion of them would achieve commercial productivity. This course will train the attendees on the evaluation methods and techniques that can be utilized to delineate productive shales from barren shales. One of the major challenges of gas shale reservoirs is to apply conventional log data to acquire reservoir rock properties. Organic matter richness, thermal maturity status, porosity, permeability, frees gas saturation, adsorbed gas volume and rock mechanical characteristics are among those critical parameters that have to be estimated for gas shale field assessment.
Both platforms offshore assets were shut in following a leak in ExxonMobil's 100,000 B/D pipeline system. Qatar Petroleum will delay its North Field LNG expansion in Qatar with startup in 2025. Its Golden Pass project in Texas remains on track. The Rovuma LNG project in Mozambique was expected to reach FID later this year, with startup in 2025. The startup of the deepwater field marks the beginning of production from the massive Stabroek Block, which contains an estimated 6 billion BOE.
Africa (Sub-Sahara) Oil and gas was discovered at the Nene' Marine exploration prospect located in the Marine XII Block offshore Congo. The prospect is estimated to hold 600 million bbl of oil and 700 Bcf of gas. The well was drilled to a total depth of 3031 m and encountered a pre-saline clastic sequence of Lower Cretaceous age. Eni (65%) is the operator in partnership with New Age (25%) and Societé Nationale des Pétroles du Congo (10%). Gas was discovered at the Mkizi-1 well in Block 1 off Tanzania. The well encountered gas pay in three reservoir intervals within a Tertiary aged stacked channel complex. Total net pay was 108 ft. Ophir (40%) is the operator in partnership with BG Group (60%).
Africa (Sub-Sahara) An 816-mile 2D seismic acquisition program was completed on the Ampasindava block, located in the Majunga deepwater basin offshore northwest Madagascar. The data will provide improved subsurface imaging of the large Sifaka prospect and will potentially mature additional prospects in the Ampasindava block to drill-ready status. Sterling Energy (UK) holds a 30% interest in the Ampasindava production sharing contract, which is operated by ExxonMobil Exploration and Production (Northern Madagascar) (70%). Asia Pacific The Jolly-1 well, located in the Otway basin onshore in South Australia, was spudded in petroleum exploration license (PEL) 495. The primary objective of the well, whose planned total depth is 4000 m, is to assess the unconventional oil and gas potential of shales within the Casterton formation. Beach Energy (70%) operates PEL 495, with partner Cooper Energy (30%).
Africa (Sub-Sahara) Eni finished a production test on its Minsala Marine 1 NFW well, located in Marine XII block, 35 km offshore The Republic of the Congo. During the test, the well delivered natural flow in excess of 5,000 B/D of 41 API crude and 14 MMcf/D of natural gas from a 37-m opened section of the discovery's 420-m column. Eni (65%) is operator, with state-owned partner SNPC (25%), and New Age (African Global Energy) Limited (10%). Asia Pacific CNOOC started natural gas production from the Panyu 34-1/35-1/35-2 project at the Pearl River Mouth basin in the South China Sea. Main production facilities for the three gas fields include one comprehensive platform, two sets of underwater production systems, and 13 producing wells. Two wells are producing a total of 21 MMcf/D of gas. The project is expected to reach peak production of 150 MMcf/D.
Africa (Sub-Sahara) Aminex Petroleum Egypt (APE), a subsidiary of UK-based Aminex, discovered oil at its South Malak-2 (SM2) well on the West Esh el Mellaha-2 concession in Egypt. Tests showed flow rates of approximately 430 B/D of 40 API gravity crude oil. Based on the findings at SM2, a full field development program will be presented to the Egyptian authorities and the joint venture partners before commercial development. APE is the operator of the license with partner Groundstar Resources. Foxtrot International discovered oil and gas at its Marlin North-1 well in Block CI-27, offshore Cote d'Ivoire. A 22-m perforated section of a gas-bearing column in a Turonian interval flowed at a stabilized rate of 25 MMcf/D of gas and 150 B/D of condensate through a 46/64-in.
Africa (Sub-Sahara) Bowleven has started drilling operations at the Moambe exploration well on the Bomono permit in Cameroon. Moambe is the second well in a two-well program, approximately 2 km east of the first well, Zingana. It targets a previously undrilled Paleocene Tertiary three-way dip fault block containing multiple sands and will be drilled to an estimated 1620 m in measured depth. Both wells will be logged. Bowleven is the operator and holds 100% interest. Asia Pacific Murphy Oil discovered gas at its Permai exploration well in deepwater Block H in the South China Sea offshore Malaysia.
Africa (Sub-Sahara) Eni, through its affiliate Nigerian Agip Oil Co. (NAOC), discovered natural gas and condensate in the Obiafu and Obrikom fields, in OML61, onshore Niger Delta. The Obiafu-41 Deep well reached 4374 m TD and encountered more than 130 m of high-quality, hydrocarbon-bearing sands. The find amounts to approximately 1 tcf of gas and 60 million bbl of associated condensate. The BP-operated Yakaar-2 appraisal well off Senegal encountered 30 m of net gas pay and proved the southern extension of the Yakkar field. BP has a 60% stake in the Cayar Offshore Profond block and the Yakaar-Teranga gas project. Asia Pacific Beijing Haohua Energy Resource discovered natural gas at the Ketan-1 well in Xinjiang's Aksu area, part of the oil-and-gas-rich Tarim basin. The well yielded daily natural gas output of 60,000 cu m in test production, according to China National Petroleum Corp. Cooper Energy discovered gas at the Annie prospect in the VIC/P44 permit in the Otway basin approximately 9 km offshore Victoria.