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Showing posts with label offshore oil. Show all posts
Showing posts with label offshore oil. Show all posts

Monday, March 28, 2011

Editorial: Oil NIMBY-ism

Editorial: Oil NIMBY-ism

Monday, March 28, 2011
The Washington Post
When was the last time an American president stood before an audience in a foreign country and announced that he looked forward to importing more of its oil? Answer: Just over a week ago, when President Obama joined political and business leaders in Brasilia in hailing the fact that their newly discovered offshore petroleum reserves might be twice as large as those in the United States. Americans "want to help with technology and support to develop these oil reserves safely, and when you're ready to start selling, we want to be one of your best customers," Mr. Obama said.

Brazil is probably a more stable, secure supplier than, say, Libya. Still, the president's words were ironic. Brazil already produces vast quantities of a fuel - ethanol - that the U.S. government, under a policy long supported by presidents and farm-state members of Congress from both parties, has promoted as a green alternative to gasoline. But the United States, protecting its own heavily subsidized ethanol industry by means of a 2.5 percent tariff and a 54-cent-per-gallon duty, prevents Americans from importing all but trivial amounts of the stuff from Brazil. Therefore, we need more oil - much of it imported. In Brasilia, Mr. Obama spoke of strengthening U.S.-Brazilian technical cooperation on ethanol but did not propose allowing U.S. protectionist measures to lapse after their scheduled expiration on Dec. 31.

As for offshore drilling, Mr. Obama's enthusiasm for punching holes in the ocean floor off Brazil is hard to reconcile with his decision, announced Dec. 1, to keep the waters off the East and West coasts and the eastern Gulf of Mexico off-limits to exploration indefinitely. His policy was a reversal of an earlier decision he had made to open some of those areas. We can understand that reversal, after the massive oil spill in the western Gulf last year. And, demonstrating a measure of flexibility even after the disaster, the administration has announced five deep-water drilling permits in the western Gulf since the spill.

The vast majority of U.S. shores, however, have remained off-limits for decades. This, too, is a policy made by two parties, with Republicans opposing drilling when it suited them; President George W. Bush prevented drilling off the Florida Gulf Coast in part to boost his brother Jeb's 2002 run for a second term as governor. But it is tough to reconcile with U.S. eagerness to "help" Brazil pump oil off its coasts and ship it here. U.S. companies, enticed by government loan guarantees, are already lined up to sell Brazil drilling equipment and services. Forget the implications for U.S. dependency on foreign sources. What does this posture say about American regard for the natural environment outside U.S. territory?

Privileged residents of scenic landscapes in America have long cried "NIMBY" - "Not In My Back Yard" - to stave off unwanted but necessary projects, from railway tracks to wind farms to power lines. Now NIMBY-ism, it seems, has become U.S. policy on offshore oil production. But the Nigerias, Angolas and Brazils of the world do not have that luxury. This makes no sense, economically or environmentally, and, sooner or later, a more balanced view must prevail. 

Kosmos Hits Paydirt Offshore Ghana

Kosmos Hits Paydirt Offshore Ghana

Monday, March 28, 2011
Anadarko Petroleum Corp.
by  SubseaIQ

Anadarko announced a deepwater discovery at the Teak-2 prospect, located in the West Cape Three Points Block offshore Ghana. The Teak-2 exploration well encountered approximately 90 net feet of high-quality oil, condensate and natural gas pay in stacked
Campanian- and Turonian-age reservoirs.

"The Teak-2 discovery is another confirmation of our geologic model that adds to the substantial resource potential of the area and
extends the success of our multi-well exploration program on the West Cape Three Points Block," said Bob Daniels, Anadarko Sr. Vice
President, Worldwide Exploration. "We are very pleased with the results encountered in this discovery, which will be further evaluated with future appraisal activity. We continue to work with our partners and the Republic of Ghana to advance our exploration and appraisal programs, as well as the increasing number of development opportunities in both the West Cape Three Points Block and adjacent Deepwater Tano License."

The Teak-2 well was drilled using the Atwood Hunter rig to a total depth of 11,185 feet in water depths of approximately 2,900 feet. The well is approximately 5,900 feet southwest and fault separated from Teak-1, and approximately two miles northeast of the Mahogany-2 well. After preserving the well at Teak-2 for future use, the partnership plans to mobilize the rig to drill the Banda prospect, also located in the West Cape Three Points Block.

Anadarko owns a 30.875-percent working interest in the West Cape Three Points Block, which is operated by Kosmos Energy (30.875-percent working interest). Other co-owners in the block include Tullow Oil plc (22.896-percent working interest), the E.O. Group (3.5-percent working interest), Sabre Oil & Gas Holdings Ltd (1.854-percent working interest) and the Ghana National Petroleum Corporation (10-percent carried interest).

EnCore Sidetrack Delivers Additional Pay

EnCore Sidetrack Delivers Additional Pay

Monday, March 28, 2011
EnCore Oil plc

Statoil Wraps Up Ops Offshore Egypt

Statoil Wraps Up Ops Offshore Egypt

Monday, March 28, 2011
Statoil
by  SubseaIQ

The Kiwi well in the Egypt's El Dabaa License (Block 9) was completed this week and the Discoverer Americas drillship will soon head back to the US Gulf of Mexico.

The exploration well targeted the Kiwi prospect in the El Dabaa license, located in the Mediterranean west of the Nile Delta, with a water depth of around 2,700 meters at the drill site.

Extensive logging has been performed in the well, and preliminary results show that the well is dry.

The offshore operations were completed safely and the results of the well will now be further evaluated and integrated into the understanding of the area before any new decisions about the acreage are made.

Statoil is the operator and holds 80% equity in the license. Sonatrach International Petroleum E&P, a wholly owned subsidiary of the Algerian state oil and gas company, holds the remaining 20%.

Cooper Spuds Parsons Well

Cooper Spuds Parsons Well

Monday, March 28, 2011
Cooper Energy
 
Cooper announced that the Parsons-4 development well in PPL224 spudded at 10:30 pm on Friday, March 25, 2011. The current operation is cementing the 9⅝” casing at 640 meters.

Parsons-4 is the second appraisal/development well on the Parsons Oil Field in the current drilling program and follows the recently successful Parsons-3 well. Parsons-4 is targeting the Namur oil reservoir to the south of the Parsons-1 discovery well. The well will be drilled to a total depth of 1,412 meters and is expected to take 9 days to drill and complete.