Statoil Farms-In Blocks Offshore Indonesia

- Statoil Farms-In Blocks Offshore Indonesia

Tuesday, May 24, 2011
Statoil

Statoil has farmed in to three offshore exploration licenses in Indonesia, significantly expanding the presence in the country.

Statoil will acquire a 40% equity interest in a North Makassar Strait Production Sharing Contract (PSC) and a similar interest in two additional offshore PSCs (West Papua IV and Halmahera-Kofiau).

The three production sharing contracts (PSC) will be operated by Niko Resources Ltd.

Given exploration success, Statoil has the option to become the operator in the development and production phases.

"This is an early access opportunity that adds significant additional acreage to our portfolio," said Pål Haremo, senior vice president for Exploration.

"Our focus is to support Statoil's exploration strategy, by adding materiality to our existing portfolio in Indonesia and increasing Statoil's acreage position in general," he added.

The agreement signed includes one exploration well commitment for the North Makassar Strait PSC.

The agreement is effective from 1 January 2011, and is subject to governmental approval in Indonesia.

Statoil is already an operator in the Karama offshore PSC in Indonesia and partner in the neighboring Kuma PSC in the Makassar Straits.

Exploration drilling is planned for both these licenses in 2011.

Oil & Gas Post

Promote Your Page Too

Chevron Spins Bit in GOM

- Chevron Spins Bit in GOM

Tuesday, May 24, 2011
Maersk Oil

Maersk Oil is participating in a new deepwater well in the U.S. Gulf of Mexico after operator Chevron received a drilling permit from the Bureau of Ocean Energy Management, Regulation and Enforcement (BOEMRE).

The permit marks the restart of the drilling campaigns Maersk Oil has been a part of in the U.S. Gulf of Mexico after deepwater activities were suspended last year as a consequence of the Deepwater Horizon accident.

"We are very pleased that this permit has been issued as it will allow us to move forward with appraisal activities on the exciting Buckskin prospect," said Bruce Laws, President at Maersk Oil in the U.S.

"The U.S. Gulf of Mexico remains a world class region for exploration and production and we look forward to continuing our work there with our partners."

The Buckskin appraisal well is located in the Keathley Canyon in Block 785, offshore Louisiana, at water depth of 6,540 feet. It is being drilled 8 kilometers from the discovery well that encountered oil in 2008 with drillship Discoverer Deep Seas.

Drilling began on May 16, 2011 and the planned total depth is 29,400 feet. Drilling will last some 136 days.

Chevron is operator of Buckskin, holding a 55% interest with Maersk Oil (20%), Repsol (12.5%) and Samson (12.5%) as co-owners.

Oil & Gas Post

Promote Your Page Too

Sterling Reaches TD at Sangaw North Well

- Sterling Reaches TD at Sangaw North Well

Tuesday, May 24, 2011
Sterling Energy plc

Sterling provided the following update for the Sterling operated Sangaw North block in Kurdistan (53.33% working interest).

The Sangaw North-1 well has been drilled to a total depth of 4,190 meters, within the Triassic Kurra Chine formation. Wireline logs have been run across the open hole section and are currently being interpreted.

The joint-venture partnership has elected, based on gas shows while drilling, to conduct a flow test across the open hole section. The flow test, including preparatory operations, is expected to take approximately three weeks to complete. Further flow testing may be undertaken depending on the results of the first flow test and interpretation of the drilling and petrophysical data acquired in the well.

Angus MacAskill, Sterling's Chief Executive said, "We are pleased to have reached the planned well depth in this very challenging drilling environment and look forward to the outcome from the ongoing program of data acquisition."

Oil & Gas Post

Promote Your Page Too

First Gas Flows at Ascent's Slovenia Well

- First Gas Flows at Ascent's Slovenia Well

Tuesday, May 24, 2011
Ascent Resources plc

Ascent has flowed gas from an open-hole test of the Karpatian reservoir of the Pg-11A well and now continues drilling to the planned total depth of 3,500m. The Pg-11A well is positioned to become the first re-development well in the Petišovci Project in Slovenia where the Company has a 75% interest.

Following the re-commencement of operations on the Pg-11A in April 2011, the well was re-drilled to a depth of c. 3,000m where a 7" liner and tie-back string was successfully set and cemented immediately above the Karpatian reservoir. The top part of the sandstone reservoir was cored and the well deepened to expose approximately 50m of reservoir. An open hole test on this section produced and flared good quality hydrocarbon gas at a constrained rate of c. 2,500m3 per day (c. 90 Mscfd). On-site gas analysis indicated a better than expected carbon dioxide concentration of less than 1%. Gas samples and the core will now be analyzed and integrated with the extensive geological and engineering data already obtained from the well. While the preliminary results from the Karpatian reservoir are positive, the delineation of the full extent of the reservoir is the primary purpose for the extra 450m drilling to the planned total depth of 3,500m. Although the Karpatian may produce at commercial rates unstimulated, hydraulic fracturing maybe required or economically justified to optimize production rates.

With the high pressures and temperatures experienced in this well, drilling conditions were challenging and have led to some delays in the previous hole section.

Ascent's Managing Director, Jeremy Eng commented, "Operations are progressing steadily at our Petišovci Project in Slovenia and we are pleased that the first test on the Karpatian proved the presence of producible gas. The lower than expected carbon dioxide levels in the gas, if confirmed by laboratory analysis, will be advantageous as CO2 processing equipment may not be required in the early stages of the redevelopment."

Oil & Gas Post

Promote Your Page Too