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In efforts to preserve cash and repair busted balance sheets in reaction to depressed prices, companies are continuing to withdraw capital and curtail investments worldwide. Oil and gas companies are selling off assets with recoverable reserves of more than 5 billion bbl of liquids and 7.5 billion BOED of natural gas, Rystad Energy estimates. While some divestments were announced before the COVID-19 crash, more were added in its aftermath. The research and consultancy group examined divestment opportunities announced since the fourth quarter of 2019 that exclude unconventional and US onshore assets. An estimated 104,000 square miles of exploration acreage, including potential exploration license sales, are also up for grabs by majors, E&Ps, industrial companies, and integrated companies.
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. The find is Murphy's eighth consecutive success in the area around the Rotan floating liquefied natural gas project, which is planned to begin its first production in 2018.
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.
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) 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.
Wood is Shell’s exclusive partner for Shell’s Smart Choke technology, which suppresses riser-induced slugging. A small core team with the ability to make decisions was responsible for getting a subsea tie-back project up to sanction within a short-time frame. Sandvik said it received the first large-scale stainless steel umbilical tube order for Mero. The tubes will be encapsulated by Prysmian Group. A VLCC converted to FPSO, Liza Destiny has a production capacity of 120,000 B/D of oil.
Water is the wetting phase. Figure 1.5 – Primary drainage, imbibition, and secondary drainage for an oil/water system in which the oil and water wet the solid surface equally. Figure 1.6 – Primary drainage and imbibition for unconsolidated dolomite powder (the lines merely connect the data). These authors wrote capillary pressure as the negative of Eq. 4 because oil was the wetting phase for most of the tests. The legend gives contact angles measured through the water phase (in degrees). Leverett and coworkers, based on the evaluation of gas/water capillary pressure data for drainage and imbibition in unconsolidated sands, proposed the following definition: ....................(15.6) The function j(Sw), defined in Eq. 15.6, is known to many as the "Leverett j-function." The j-function is obtained from experimental data by plotting against Sw. The combination is often considered an estimate of the mean hydraulic radius of pore throats.
Relative permeability and capillary pressure defines relative permeabilities as dimensionless functions of saturation with values generally ranging between 0 and 1. Relative permeability is important for estimating the flow of reservoir fluids. The semilog scale of Figure 1 is convenient for reading the relative permeabilities less than 0.05. Although the curves are labeled "gas" and "oil" in these figures, the phase identity of a curve can be deduced without the labels. For example, the relative permeability that increases in the direction of increasing oil saturation must be the oil relative permeability. The endpoints of the relative permeabilities in Figs. 1 and 2 are defined by the critical gas saturation Sgc and the residual oil saturation Sor.