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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.
Africa (Sub-Sahara) Oranto Petroleum has signed two production-sharing agreements (PSAs) with Uganda for oil and gas exploration around Lake Albert, the Nigerian company said. The deal covers the Ngassa Shallow and Ngassa Deep plays in blocks near the southern part of Lake Albert, according to the Uganda Ministry of Energy and Mineral Development. The pacts closely followed the signing of a PSA by Australia's Armour Energy that covers the Kanywataba block, a 133-square-mile area that was relinquished by three international companies in 2012 after failed exploration attempts. The agreements with Oranto and Armour involve acreage that was offered in Uganda's first competitive exploration licensing round last year. Uganda discovered oil in 2006 in the Albertine rift basin along the Democratic Republic of Congo border.
Dominion Energy said that the first vessel carrying liquefied natural gas (LNG) from the newly built Cove Point LNG export terminal at Lusby, Maryland, left the facility on 2 March, another sign of the growing global importance of United States shale-resource production. The Shell LNG tanker Gemmata departed for an unknown destination with a full cargo, according to an energy data provider whose cameras observed the loading process from a distance. Located in Chesapeake Bay, Cove Point was built as an LNG import terminal. Dominion has invested approximately $4 billion to add export facilities, which were still being commissioned when the Gemmata departed. Cove Point is the second big LNG export terminal in the contiguous 48 US states, following the startup of exports from Cheniere Energy's Sabine Pass terminal in Louisiana in 2016.
ConocoPhillips agreed to sell its 30% interest in the Greater Sunrise Fields to the government of Timor-Leste for $360 million. The transaction is expected to close in the first quarter of 2019. The sale gives the government interest in the Woodside-operated Greater Sunrise liquefied natural gas (LNG) project that stalled because of the maritime border dispute between Timor-Leste and Australia. The fields were discovered in 1974 and hold gross contingent resources of 5.13 Tcf of gas and 225.9 million bbl of condensate, according to Woodside. Partners in the Sunrise LNG project will include the operator Woodside (33.44%), the Timor-Leste government (30%), Shell (26.56%), and Osaka Gas (10%).
Africa (Sub-Sahara) Equatorial Guinea's Ministry of Mines and Hydrocarbons has notified Ophir Energy that it will not gain an extension for the offshore Block R license. Targeted production was approximately 330 MMcf/D, with a plateau of 30 years. Located approximately 140 km west of Bioko Island, the Fortuna project was to see development of six commercial discoveries in a phased manner. In November 2016, the British oil and gas company created a joint operating company with OneLNG to develop the floating LNG project at the Fortuna gas discovery. Asia Pacific Thailand's Department of Mineral Fuels (DMF) has awarded state oil company PTTEP production-sharing contracts for both the offshore G1/61 (Erawan) and G2/61 (Bongkot) projects.
Asia Pacific Santos discovered gas with the Corvus-2 well in the Carnarvon Basin, offshore Western Australia. The well, located in permit WA-45-R, in which Santos has a 100% interest, reached a total depth of 3998 m. It intersected a gross interval of 638 m, one of the largest columns discovered across the North West Shelf. Wireline logging to date has confirmed 245 m of net hydrocarbon pay across the target reservoirs. Total SA and partners ExxonMobil and Oil Search have signed a gas agreement with the government of Papua New Guinea that defines the fiscal framework for the Papua LNG project in the country's Eastern Highlands. The plan involves construction of three 2.7-mtpa LNG trains on the existing PNG-LNG plant site at Caution Bay just west of Port Moresby. Total has 31.1% interest, ExxonMobil has 28.3% interest, and Oil Search has 17.7%.
The acquisition and divesture deal includes large-interest positions in nine offshore exploration blocks, several of which Shell may become the operator of. The Orca-1 and Marsouin-1 wells have derisked up to 50 Tcf of gas initially in place from the Cenomanian and Albian plays in the BirAllah area, more than sufficient to support a world-scale LNG project, partner Kosmos Energy said. BP Appraisal Well Proves “World-Scale Gas Resource" Offshore Senegal The Yakaar-2 appraisal well encountered 30 m of net gas pay in a similar high-quality Cenomanian reservoir as the Yakaar-1 discovery well drilled in 2017.
Saudi energy minister warns speculators not to bet against the OPEC+ alliance. The $20.7-billion agreement is the single-largest energy infrastructure investment in the region. The most recent hydrocarbon production boom is under way in the Middle East, and this time, the race is spilling into offshore waters. The companies will focus on research and development to reduce CO2 emissions and promote the circular economy. ADNOC’s drilling subsidiary has increased its rig fleet to 95 and plans to add “dozens” more by 2025.
A luxurious escape in the western most part of the Arab world, Morocco has seen a surge in interest from international oil companies in the past few years, who want to tap into the country’s immense hydrocarbon potential. Several giant LNG developments earlier this decade suffered from runaway costs and delivery slippage. Can the industry deliver projects on time and on budget in this new investment cycle? During a panel discussion at the recent Davos 2019, World Econominc Forum's Annual Meeting, Hess CEO John Hess summarized the importance of US shale production.