Viking Moorings Inks 2-Year Agreement with Deep Sea Anchors

- Viking Moorings Inks 2-Year Agreement with Deep Sea Anchors

Wednesday, September 07, 2011
Viking Moorings

Viking Moorings has signed a two-year agreement with Norwegian company, Deep Sea Anchors (DSA) to supply its industry leading deep water 'torpedo' anchors to mooring installations worldwide. The announcement was made at Offshore Europe in Aberdeen where Viking Moorings is exhibiting in the Deep Water Zone.

The agreement, which will cover all regions of the world outside Norway, will allow Viking Moorings to provide an even greater breadth of integrated anchoring solutions to its clients with, once a suitable project is identified, an exclusive agreement with DSA put in place to supply it anchors.

The Deep Penetrating Anchor (DPA), also known as the 'torpedo' anchor, is a dynamically installed anchor which is released freely from a predetermined height over the seabed using gravity as the installation force. The anchor penetrates well below the mudline and sets into stiff clay sediments providing a secure and cost effective anchoring solution irrespective of water depths and allowing for both taut leg and catenary mooring installations.

Other benefits include simplified installation, precise positioning and the elimination of the need for hydraulic and electrical lines which are often used for traditional anchor installations.

"Viking is all about providing greater innovation, greater choice and the optimal mooring solution for our customers," said Viking Moorings Chief Executive – Mooring Solutions, Wolfgang Wandl.

"Having considered a number of our recent mooring installations to be ideal for torpedo anchoring, the formal teaming up with DSA, one of the few providers of such anchors, was an obvious fit. There's no better forum to showcase these new capabilities than the Deep Water Zone and Offshore Europe this year and we look forward to a mutually collaborative arrangement with DSA."

"Deep Sea Anchors is very pleased to have signed this agreement with Viking Moorings," said Ivar Erdal, CEO of Deep Sea Anchors. "Working with Viking Moorings is a perfect match for us, combining our unique anchoring solutions for soft seabed and deep waters with Viking Moorings' comprehensive mooring services and dedicated team of experts.

He continued, "Viking Moorings' knowledge and presence in many countries and regions where our DPA's can be applied with success and to the great benefit of clients was a major reason for entering into this agreement. Being a small and focused company, market entrance remains a challenge - a challenge which can be made easier through this agreement."

Using gravity, the DPA™ anchor starts its descent under cable control before accelerating at up to 100 kilometers per hour for the final 75 meter drop, shooting the anchor deep into the seabed sediments to attain sufficient holding capacity. The anchor penetrates typically 25-35m into stiff clay sediments thus allowing for taut leg as well as catenary mooring. The anchors are not affected by waves and can be deployed at depths of between 500 and 3000 meters. Deep Sea Anchors is based in Trondheim, Norway.

Viking Moorings provides total mooring solutions to operators and drilling contractors, consisting of initial mooring design and analysis, rig move procedures, risk assessments and safety approvals, equipment rental, installation and support, chain inspection, spooling services and logistics services, marine sales, repair and maintenance.

Through a comprehensive evaluation of seabed conditions, Viking Moorings decides upon the optimal anchoring solution for each client whether it be a DPA or more traditional anchoring solution. Other anchors that Viking Moorings supplies to its customers includes the Vryhof Stevpris MK6 and MK 5 anchors, the Vryhof Stevshark anchor, the Stevin anchor, the Bruce Twin Shank and Dennla MK4 anchors and a number of others.

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Solstad Offshore Inks Contract with Ocean Installer for CSV

- Solstad Offshore Inks Contract with Ocean Installer for CSV

Wednesday, August 31, 2011
Solstad Offshore ASA

Solstad Offshore ASA (SOFF) has signed a contract with Ocean Installer AS (OI.II) for hire of SOFF's offshore construction vessel (CSV) Normand Clipper.

The duration of the contract is firm for 5 years with further 5 x 1 year option. Commencement is expected to be during second quarter of 2012.

The contract value is confidential between the parties, but gives SOFF an acceptable return on its investment. SOFF and OI.II intend to investigate and develop opportunities for further co-operation with regards to future assets.

Normand Clipper is a CSV built in 2001 and extensively upgraded in 2005. The vessel is very well suited for subsea construction work in both deep and more shallow waters. The vessel has a 250 t subsea crane, a deck area of approximately 1700 m2 and accommodation to approximately 100 people.

Ocean Installer is a newly established subsea construction company based in Stavanger, Norway. O.II is 100% owned by HitecVision.

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Odfjell Inks Management Deal for Semisub

- Odfjell Inks Management Deal for Semisub

Monday, August 29, 2011
Odfjell Drilling AS

Odfjell Drilling has signed a management agreement for the semisubmersible drilling rig Island Innovator owned by Marine Accurate Well ASA – Maracc (OTC MARA). The rig will be ready for operations in Norway 4Q 2012.

Odfjell Drilling CEO Simen Lieungh stated, "We are very pleased to announce this management agreement with Marine Accurate Well
ASA for the Island Innovator. The expansion of the Odfjell Drilling management portfolio is a part of the company growth strategy, and we will actively tender the rig both in Norway and Internationally. The Island Innovator is a drilling and intervention rig perfect for
operations at the NCS among others. We are looking forward to a prosperous and successful collaboration with Marine Accurate Well ASA."

Odfjell Drilling will be responsible for management including crew, quality systems and technical operation. The co-operation will start immediately and Odfjell Drilling will commence mobilization of personnel and crew into the project and the operation.

The rig is currently under completion at Cosco in China. The rig will be ready for operations in Norway 4Q 2012.

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Bridge Inks Farm-In Deal with TAQA Offshore UK

- Bridge Inks Farm-In Deal with TAQA Offshore UK

Thursday, August 25, 2011
Bridge Energy ASA

Bridge announced that, along with its current license partners, it has signed a farm-in agreement with TAQA Bratani Limited ("TAQA") relating to UKCS License P201 Block 211/22a North West Area (Bridge 10%) whereby TAQA has agreed to carry the cost of an exploration well to earn an interest in the license.

Under the terms of the agreement and subject to the approval of the UK Department of Energy and Climate Change ("DECC"), TAQA will assume operatorship and drill an exploration well on a prospect known as Contender in the southern area of the block from the TAQA-operated Cormorant North Platform. The well will target the Jurassic Brent sequence of sandstones at a projected drilling depth of 16,900 feet, less than two kilometers east of the Cormorant North Field. The well is expected to spud during the first half of 2012 and will be completely funded by TAQA.

If successful, TAQA will earn 60% interest in the southern area of the block (the "Contender sub-area") and 35% interest in the northern part (the "Kerloch sub-area"). Bridge's remaining interests will be 4% in the Contender sub-area and 6.5% in the Kerloch sub-area.

Tom Reynolds, Bridge's Deputy Chief Executive, said, "We are delighted to have TAQA as a partner in the Kerloch and Contender license area and encouraged that a further exploration well will be drilled within the Bridge portfolio in 1H 2012; in addition to the existing four wells on our 2012 drilling program. TAQA has been successful in the area with the Cormorant North Field and is well placed to further explore the Contender prospect.

"Subject to exploration success; the testing of the well and delivery of production could be conducted at minimal cost and within a short time-frame."

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Welltec Inks Major Contract with Petrobras

- Welltec Inks Major Contract with Petrobras

Thursday, July 14, 2011
Welltec

Welltec has signed a major contract in Brazil with Petrobras; contract value will be in excess of $15MM for a duration of up to 4 years. Welltec has been selected as the primary service provider for electric line tractor conveyance as well as for a wide portfolio of mechanical intervention services including milling, cleaning, plug setting and sliding sleeve manipulation. These services will allow Petrobras increased flexibility in planning and executing their land as well as their offshore and subsea activity with a higher degree of safety and certainty through the application of Welltec's unique, high precision, robotic technologies.

According to Jorgen Hallundbaek, Chief Executive Officer, Welltec, "We worked diligently with Petrobras to finalize this agreement and both parties are excited about beginning the work. Petrobras have often recognized our capabilities as the premier tractor conveyance company but have also come to realize the value our mechanical intervention services enabled on electric line can provide them. Using Welltec can dramatically reduce the footprint, the number of lifting operations and the rig up time at the well location versus conventional heavier intervention methods. This contract provides Welltec with a great platform to further its expansion in an important, rapidly expanding, deep water market."

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FMC Technologies Inks Agreement with Statoil

- FMC Technologies Inks Agreement with Statoi

Tuesday, July 05, 2011
FMC Technologies Inc.

FMC Technologies has signed an agreement with Statoil for the manufacture and supply of subsea workover adapters. The award has a value of approximately $43 million in revenue to FMC Technologies.

FMC's scope of supply includes eight workover adapters for horizontal subsea production trees, five adapters for drill pipe landing strings as well as topside controls. The equipment will be manufactured at FMC's facility in Kongsberg, Norway. Deliveries will commence in the second quarter of 2012.

"This equipment will support workover operations at four fast-track fields in the North Sea," said Tore Halvorsen, FMC's Senior Vice President of Global Subsea Production Systems. "It provides added flexibility and brings standardization to Statoil's workover system portfolio."

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TTS Inks Jackup Agreement with Jurong Shipyard

- TTS Inks Jackup Agreement with Jurong Shipyard

Tuesday, June 21, 2011
TTS Group ASA

TTS has signed a Letter of Intent with Jurong Shipyard Pte Ltd in Singapore, for delivery of a high performance drilling equipment packages for a new CJ70 jackup to be built for North Atlantic Drilling Ltd.

The new jack up, named West Linus, is specifically built to operate on the Norwegian Continental shelf and has been contracted to ConocoPhillips for five years. The new rig is an advanced, ultra large, harsh environment, high performance drilling unit matching the specifications of the largest jack ups in the world.

The new drilling equipment package has a value of approximately NOK 350 million plus various optional equipment yet to be decided on. The drilling equipment is scheduled for delivery during 3Q and 4Q 2012. TTS Energy has also granted Jurong Shipyard two options valid until September 30th, 2011 for identical drilling equipment packages.

TTS Energy has previously supplied a similar drilling equipment package to West Elara, which is a CJ70 jackup rig currently being finalized at Jurong Shipyard for North Atlantic Drilling where Seadrill holds a majority share. West Elara has been contracted to Statoil under a five year contract on the Norwegian Continental Shelf.

"We are very pleased to again have been chosen to deliver a high specification rig package to Jurong Shipyard and North Atlantic Drilling," said Johannes Neteland, President & CEO of TTS Group. "This new contract confirms our strong position in the high end drilling equipment market," he added.

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Shoaibi Group Inks Agreement with Emerson

- Shoaibi Group Inks Agreement with Emerson

Thursday, June 16, 2011
Shoaibi Group

Shoaibi Group has signed an exclusive distribution agreement with Emerson Process Management, a wholly-owned Emerson
company, to offer a complete line of multi-phase flow meters and products for reservoir management and production optimization in the Kingdom of Saudi Arabia.

The agreement complements the Shoaibi Group's existing rights for distributing Roxar's reservoir management software in the Kingdom. An Emerson Process Management-owned company, Roxar's complete line of products includes instrumentation for topside, subsea and downhole monitoring, high temperature reservoir monitoring, multiphase metering, sand erosion sensors and oil in water monitoring and corrosion detection.

Khalid Al Shoaibi, Group Director commented, "We are pleased to have been appointed by Emerson as the exclusive distributors of Roxar's full range of products in the Kingdom of Saudi Arabia. Combined with our existing portfolio of reservoir management software, this will no doubt position us as the ultimate solutions provider for reservoir management and production optimization in the region."

John Currie, Vice President Roxar from Emerson Middle East & Africa said, "With rising production costs and growing demand, the global oil and gas industry is faced with the challenge of not only producing cost-effectively but also prolonging reservoir productivity and ensuring revenue growth. Emerson's Roxar products not only assist in production optimization, and improved decision making, but also help operators to maximize reservoir performance. Considering Shoaibi Group's strong market knowledge and presence in Saudi Arabia, and in depth knowledge of the oil and gas industry, we are confident of the success of this partnership and the business growth it will bring."

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WATER STANDARD Inks Global Frame Agreement with Shell

- WATER STANDARD Inks Global Frame Agreement with Shell

Wednesday, June 15, 2011
WATER STANDARD

WATER STANDARD has signed a global frame agreement with Shell for engineering services related to the development of water based enhanced oil recovery methods and produced water treatment.

"We are extremely pleased to be working with Shell in support of Shell's ground breaking global enhanced oil recovery programs" said Amanda Brock, CEO of WATER STANDARD. "WATER STANDARD has been working with Shell to develop sustainable long term water treatment solutions. We look forward to our continued collaboration."

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GE O&G Inks Frame Agreement with Shell Brasil for Offshore Projects

- GE O&G Inks Frame Agreement with Shell Brasil for Offshore Projects

Tuesday, June 14, 2011
GE O&G

GE O&G has signed a three-year frame agreement valued at approximately $30 million to supply 26 subsea wellhead systems and associated services to Shell Brasil Ltda. for exploration and production projects offshore Brazil. The agreement means GE Oil & Gas will supply all Shell Brasil's requirements for subsea drilling systems for all offshore exploratory and development wells to be drilled by Shell Brasil at least until the end of 2013.

Under the agreement, GE will supply 13 MS-700 Slimbore and 13 MS-700 deepwater high capacity (DWHC) systems. The GE MS-700 is the only subsea wellhead system on the market with metal-to-metal sealing, and has demonstrated high reliability for projects offshore Brazil.

Suheyl Ozyigit, Wells Delivery Manager for Shell Brasil said, "Based on our previous experiences, we are confident that the new agreement with GE will help us to reach our ongoing exploration and production goals. The agreement also meets our delivery requirements, provides competitive pricing and includes substantial local content."

Fernando Martins, Vice President—Latin America, Drilling & Production, GE Oil & Gas, said, "We're very pleased to again have been selected to help Shell Brasil achieve its deepwater production goals. The new frame agreement builds upon our successful relationship with Shell Brasil and further supports our growing role as a technology supplier for projects offshore Brazil, one of the world's most active oil and gas development regions."

GE's MS-700 technology offers high flexibility in terms of casing programs and is designed to help Shell Brasil reach exploratory and development targets in ultra-deep water reservoirs efficiently, saving operational rig time and costs. Most of the new projects will be located in the Santos and Campos basins offshore Brazil.

Under the new frame agreement, Shell Brasil will be able to leverage the operational lessons learned and benefits coming from earlier applications of the same MS-700 Slimbore technology. GE had a similar contract with Shell Brasil from 2007-2010 for the supply of wellhead systems for the BC-10 phase 1 development.

Much of the equipment will be manufactured at GE's facility in Jandira, São Paulo State, Brazil. Shipments are expected to start by September 2011.

The latest agreement with Shell Brasil underlines GE's position as a leading supplier of subsea drilling systems for offshore operators in Brazil. Since 2007, when GE acquired VetcoGray, the GE drilling & production business has provided more than 300 subsea wellhead systems to 11 different operators for projects offshore Brazil.

Underscoring its commitment to Brazil, GE has announced that it plans to invest $500 million to expand its operations in the country, including the establishment of a multi-disciplinary Research and Development Center in Rio de Janeiro. Among the focus areas for the new center will be advanced technologies for the oil and gas sector. In addition, GE's recent acquisition of Wellstream, a leading producer of flexible pipe equipment, significantly expands GE's capabilities to serve the Brazilian offshore market.

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EMS Inks Crane Contract with Hoang Long

- EMS Inks Crane Contract with Hoang Long

Friday, May 27, 2011
EMS Energy Ltd.

EMS announced that its subsidiary, Engineering & Marine Services (Pte) Ltd, has signed an agreement with Hoang Long Joint Operating
Company for a repeat order to manufacture and supply one additional unit of offshore pedestal crane valued at approximately US $2MM.

The second crane is expected to be delivered by March 2012 for use at the Block 16-1, Te Giac Trang Field Development Project in Vietnam. The first crane was delivered on November 10, 2010.

Mr. Ting Teck Jin, Executive Chairman and CEO of EMS Energy Limited commenting on the second order, said, "This repeat order is both a testimony of our strong capabilities in design and fabrication, as well as the customer’s acceptance of the high quality standards of our products. This crane is designed and built in strict accordance to API 2C certification standards for offshore pedestal cranes."

"In addition to manufacturing and supplying offshore cranes, we also provide a whole range of engineered solutions, products, and services that we market to our customers. Leveraging on our ability to design, manufacture and install such engineering solutions and products, as well as provide aftermarket services, EMS Energy is well positioned to serve customers globally," added Mr. Ting.

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Gold Oil Inks LOI for Seismic Survey Offshore Peru

- Gold Oil Inks LOI for Seismic Survey Offshore Peru

Thursday, May 26, 2011
Gold Oil plc

Gold Oil has signed a Letter of Intent with BGP Geoexplorer PTE Ltd with regard to the acquisition of a marine 3D seismic survey over Block Z34 offshore Peru. The survey is for a total of 500 sq km over the southern part of the license area. As previously announced, the Peruvian Ministry of Energy and Mines has recently approved the environmental permit (PMA) covering Block Z34 for shooting a maximum of 808 sq km of 3D seismic offshore. This initial survey comprises the first phase of 3D seismic over the license and a further (approx. 1,100 sq km) will be required to evaluate the northern area of this large and prospective block.

The vessel, the BGP Pioneer, is currently alongside Las Palmas de Gran Canaria and will mobilize shortly to the operations area. Steaming time to Peru will be approximately 20 days and it is expected, therefore, that the vessel will commence operations, after local clearances, around early July 2011. Total acquisition time is expected to be approximately 30 days from commencement of operations.

Richard Mew, Chief Executive commented, "I am very pleased that we have been able to make such quick progress following our recent placing and gaining environmental permits, in getting a high quality seismic contractor to begin our 3D survey. We expect to finalize the contract terms and to start operations early July. The pace of activity on this key asset has accelerated rapidly in recent months and we fully intend to move as quickly as we can to explore in detail this highly prospective block."

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CGGVeritas Inks Agreement with Elnusa

- CGGVeritas Inks Agreement with Elnusa

CGGVeritas has signed an agreement with Elnusa to create a marine joint venture company. The newly established company, PT Elnusa-CGGVeritas Seismic, is 51% owned by Elnusa and 49% owned by CGGVeritas and will deliver 2D and 3D marine seismic acquisition services to oil and gas company clients mainly operating in Indonesia and the Region.

PT Elnusa-CGGVeritas Seismic will operate the first Indonesian-owned and flagged seismic vessel, the Elnusa Finder. The Elnusa Finder was purpose-built in Singapore and is equipped with four Sercel solid streamers. She is scheduled to conduct her first commercial survey in Indonesia starting in May, 2011, near Madura Island in East Java, on behalf of Husky Oil.

Jean-Georges Malcor, CEO of CGGVeritas, said, "The Indonesian and regional oil and gas E&P industry has significant potential for growth. Our new joint venture will enable our long-term partner, Elnusa, to expand its capability in marine seismic services by building on local expertise and offering the benefits of the latest CGGVeritas seismic technology to regionally established clients."

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BG Group Inks PSC for Blocks Offshore Keny

- BG Group Inks PSC for Blocks Offshore Keny

Tuesday, May 17, 2011
BG Group plc

BG Group has signed Production Sharing Contracts with the Government of Kenya for two offshore exploration blocks - L10A and L10B.

BG Group will be operator on both blocks and will hold a 40% equity interest in block L10A and a 45% interest in block L10B. The initial work program consists of a commitment to acquire seismic data during an initial exploration period of two years.

Blocks L10A and L10B together cover an area of more than 10,400 square kilometers in the southern portion of the Lamu Basin, offshore Kenya, located in water depths ranging from around 200 meters to in excess of 1 900 meters.

BG Group Executive Vice President and Managing Director, Africa Middle East & Asia, Sami Iskander, said, "BG Group looks forward to working with our partners and the Kenyan Government to play an active role in the exploration for oil and gas offshore Kenya."

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Delta Marine Technologies Inks Agency Agreement with Ampelmann

- Delta Marine Technologies Inks Agency Agreement with Ampelmann

Monday, May 16, 2011
Delta Marine Technologies Inc.

Delta Marine Technologies and its affiliates announced the signing of an Agency Agreement with Ampelmann Operations BV of The Netherlands as sole agent throughout much of the Western Hemisphere excluding Brazil for the rental and hire of the Ampelmann Offshore Access System.

This system is designed to address the requirement for personnel transfer in the offshore environment where active compensation of wave-induced vessel motions of marine vessels brings safety and efficiency to new levels of performance unmatched by the more conventional conveyances currently employed in the offshore energy industries of Oil and Gas, Wind and Wave Power.

Future applications for the Ampelmann system include but are not limited to the following:

• Floatel accommodation support
• Offshore hook-up and commissioning
• Platform decommissioning
• Platform jacket installations
• Brownfield re-development
• Production operations for unmanned facilities
• Ship-to-Ship personnel transfer
• Wind Energy installation projects
• Wave Energy installation projects

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Ithaca Inks Earn-In Agreement on Hurricane Discovery

Ithaca Inks Earn-In Agreement on Hurricane Discovery

Tuesday, April 26, 2011

Ithaca Energy Inc.

Ithaca has signed an Earn In agreement with Challenger Minerals (North Sea) Limited ("CMI") on the Hurricane discovery ("Hurricane") in Block 29/10b, within the Ithaca operated Greater Stella Development Area.

Hurricane was discovered in 1995 by well 29/10-4Z which tested the western lobe of a mapped structure and encountered light oil (41 degrees API) in a 62 foot section of reservoir sands; no drill stem test was undertaken at that time. The Hurricane appraisal well is being designed to confirm hydrocarbons in the eastern lobe of the structure characterized by high porosity (up to 30%) channelized Paleocene Rogaland sandstones. On successful appraisal of Hurricane by the initial well, the intention is to drill a sidetrack 'keeper' well up structure in anticipation of future development and tie back to the Stella hub.

Under the terms of the Earn In agreement, CMI is committed to pay a share of costs of the initial well in Block 29/10b. In consideration for this commitment CMI is provided with an option, exercisable no later than 90 days following abandonment or suspension of the initial appraisal and any sidetrack well, to take an interest in Block 29/10b. Under the Earn In arrangements, CMI will pay 40% of gross Hurricane initial appraisal well costs in exchange for a 31% equity interest in Block 29/10b, thereby carrying a part of Ithaca's share of all costs of drilling an initial appraisal well. In addition, upon successful appraisal, CMI will pay 40% of gross costs of a drill stem well test of any sidetrack. All additional costs, including those for planned sidetrack drilling, shall be apportioned such that CMI shall pay its 31% pro rata share.

The transaction is subject to agreeing 'turnkey' terms with Applied Drilling Technology International ("ADTI") (a subsidiary of Transocean Inc.) for the provision of a suitable drilling unit and well management services. Upon agreement of 'turnkey' terms and provision of a suitable rig, Ithaca anticipates that the appraisal well will be commenced in Q4 2011.

Ithaca currently holds 100% equity interest in the Hurricane discovery and Block 29/10b.

Petrobas Inks MOU with Chinese Oil Cos

Petrobas Inks MOU with Chinese Oil Cos

Friday, April 15, 2011
Petrobras

Petrobras has signed a Memorandum of Understanding (MOU) with the Chinese company Sinochem Corporation and a General Technological Cooperation Agreement (GTCA) with Sinopec.

The MOU signed with Sinochem includes a strategic cooperation between the parties in oil and gas exploration and production in Brazil and abroad; technological cooperation for the development of projects aimed at increasing oil recovery; export of oil and other products.

The objective of the GTCA signed with Sinopec is the exchange of experiences and knowledge in technological areas with a focus on Geophysics, Geology, Reservoir Engineering and Assessment aimed at increasing oil recovery of the reservoirs of both Companies.

The agreements are designed to enhance cooperation between the activities of the companies, both in Brazil and abroad, in areas of common interest and are aimed at developing a strategic cooperation in activities of the oil and gas industry.

Aminex Inks Development License for Kiliwani North Gas Field

Aminex Inks Development License for Kiliwani North Gas Field

Tuesday, April 12, 2011
Aminex plc

Aminex announced that The Minister for Energy & Minerals of Tanzania, the Hon. William Ngeleja, has signed a Development License with the Company's Tanzanian subsidiary, Ndovu Resources Ltd., ('Ndovu') for the Kiliwani North Gas Field in Tanzania. This is a major step in bringing the Kiliwani North Field on to production.

The Development License represents an area carved out of the Nyuni East Songo-Songo Production Sharing Agreement ('Nyuni PSA') which includes the mapped area of the Kiliwani North gas field. The Kiliwani North-1 well flowed gas at a rate of 40 million cubic feet per day (equivalent to 6,700 barrels of oil per day) under full production test conditions. Ndovu manages the Nyuni PSA and the Kiliwani North gas field as operating partner for a four-company consortium.

East Africa has become the subject of high industry interest recently, following successful drilling by large companies operating in deep water, both in Tanzania and in neighboring northern Mozambique. The Kiliwani North Development License is the first new Development License granted in Tanzania as a consequence of exploration drilling carried out in recent times and is a significant milestone in the commercialization of Tanzanian gas.

Kiliwani North has been independently estimated to contain 45 billion cubic feet ('BCF') gas in place on a Pmean Contingent Resources basis, equivalent to 7.5 million barrels of oil. Gas from Kiliwani North will be available to assist in countering current energy shortages in Tanzania.

Another prospect which lies within the development area, known as Fanjove North, but which has yet to be drilled, has been independently estimated to contain in excess of 200 BCF gas in place, equivalent to approximately 30 million barrels of oil, on a Pmean Prospective Resources basis and, subject to the outcome of a planned transition zone seismic survey, may be drilled in due course.

The Kiliwani North wellhead is situated on the southern tip of Songo-Songo island off the coast of Tanzania and is less than 3 kilometers from the nearest access point to the process facilities (being upgraded) at the input end of the Songas common-user pipeline which delivers gas from the neighboring Songo-Songo field to the city of Dar es Salaam. Ndovu has already negotiated a memorandum of understanding for the future sale of gas to industrial users in the Dar es Salaam area and expects to be able to deliver first gas within 12 months.

Partners in the Development License are:

* Ndovu (Aminex) 65%
* RAK Gas Commission 25%
* Key Petroleum 5%
* Bounty Oil 5%

Aminex chairman Brian Hall commented, "We are very pleased to have been granted this Development license, which represents a major landmark in our Tanzanian operations. The Development License will also benefit Tanzania, paving the way for a further energy source in a market with high and urgent demand.

Kiliwani North is well situated, close to a major pipeline, and the Development License will now enable us to negotiate agreements to access processing and transportation facilities. The existing pipeline has limited capacity but we may expect development of new pipeline infrastructure as a consequence of recent deep water gas discoveries.

The new Development License is a significant step for Aminex in commercializing its Tanzanian operations. Within two months we expect to start new exploration drilling at nearby Nyuni Island, targeting a large gas prospect within the Nyuni PSA. Negotiations are being satisfactorily concluded with the Tanzanian authorities for a new, enlarged Nyuni PSA which will replace the existing Nyuni PSA upon its expiry this year. This will be the first-ever renewal of an expired PSA in Tanzania. In the event that the Nyuni-2 well has not been concluded by the expiry of the current PSA, the Tanzanian authorities have indicated that they will provide an extension to the existing PSA to enable the Nyuni-2 well to be completed.

Shareholders will be kept informed on material events at Nyuni."

Africa Oil Inks Agreement for Lion Shares

Africa Oil Inks Agreement for Lion Shares

Monday, April 04, 2011
Africa Oil Corp.

Africa Oil has signed a definitive agreement with Lion to acquire all of the issued and outstanding shares of Lion.

Pursuant to the agreement with Lion, Africa Oil will acquire, by way of a plan of arrangement, all of the issued and outstanding shares of Lion in consideration for 0.20 Africa Oil shares for each common share of Lion. Any options or warrants to purchase common shares of Lion that are outstanding on completion of the acquisition will be replaced or amended to entitle the holder to acquire common shares of Africa Oil, with the number of shares to be acquired and the exercise price each adjusted to reflect the ratio of 0.20 shares of Africa Oil for each 1.0 share of Lion.

Lion is a joint venture partner of Africa Oil in Kenya and Puntland (Somalia).
Keith Hill, Africa Oil's President and Chief Executive Officer, commented, "The acquisition of Lion consolidates our interests in the East African rift basins in Kenya and Puntland (Somalia). The cash portion of the deal will further strengthen our balance sheet to allow us to fully fund the upcoming aggressive exploration drilling campaign."

BP Inks 4 CBM Production Sharing Contracts in Indonesia

BP Inks 4 CBM Production Sharing Contracts in Indonesia

Friday, April 01, 2011

BP plc

BP has signed four new coalbed methane (CBM) production sharing contracts (PSCs) in the Barito basin of South Kalimantan, Indonesia.

BP and co-owner Pertamina were jointly awarded the Tanjung IV CBM PSC through a direct award from the Government of Indonesia. BP will hold a 44 percent participating interest in the PSC with Pertamina holding the remaining 56 percent.

BP and co-owner PT Sugico Graha (Sugico) were jointly awarded the Kapuas I, II and III CBM PSCs through a direct offer from the Government of Indonesia. BP will hold a 45 percent participating interest in the PSCs with Sugico holding the remaining 55 percent.

Bob Dudley, BP group chief executive, said, "Today's agreements follow on from BP's recent agreements to access new resources in Indonesia, China, India and Australia. BP has significant experience and expertise in the development of unconventional gas, including coalbed methane, and we look forward to working with our partners to apply this to the potential of Indonesia's coal resources."

Together, the four PSCs cover an area of approximately 4,800 square kilometers.
"BP is very pleased to be extending our working relationship with Pertamina in the development of Indonesian CBM resources, and also to cooperate with Sugico in creating a material CBM position in a highly prospective basin. These four PSCs complement BP's existing CBM position in Indonesia, allowing us to leverage our 30-plus years of CBM experience to deepen our portfolio in Kalimantan," said William Lin, BP's President of Asia Pacific Exploration & Production.

These awards mark BP's first CBM access in Indonesia outside its joint venture with ENI, VICO, which in late 2009 was awarded the Sanga Sanga CBM PSC near the Bontang LNG plant in East Kalimantan.