Statoil Exercises Options in Surface Management Contract

- Statoil Exercises Options in Surface Management Contract

Wednesday, June 08, 2011
AGR Group ASA

Statoil has exercised options in the current framework agreement with AGR Field Operations for surface management services. The extension has an estimated total value of NOK 40 million over a period of 12 months. This contract has an estimated value of 300 million including remaining options.

AGR Field Operations will provide Surface Management services including AGR's proprietary SOLV™ concept to all Statoil on - offshore installations in Norway and on the Norwegian Continental shelf, a total of 44 installations.

Åge Landro, Executive Vice President of AGR Field Operations commented, "This extension will allow us to continue the current relationship between AGR Field Operations and Statoil all across their operations in the North Sea region. We see the extension as a confirmation from Statoil that our products and services are valuable in the effective management of their assets."

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Exillion Discovers Oil in West Siberia

Exillion Discovers Oil in West Siberia

Tuesday, 22 March 2011 16:38 Rigzone.com

 

Moscow. Exillon announced that well EWS I - 38, located in West Siberia, successfully found oil on the eastern part of the East EWS I field, and legacy exploration well EWS I - 1 on the southern part of the EWS I field has been successfully re-completed.

 

EWS I - 38

 

EWS I - 38 well which was spudded on 2 March 2011 was drilled in 17 days on an eastern part of the East EWS I field on a turn-key contract for a total consideration of 0.8 million.

The well encountered the Jurassic P reservoir at 1,858m which is 2m higher than previously thought. Results of wire line logging combined with oil shows and sample analysis whilst drilling, have confirmed the presence of at least 9m of net oil pay within the Jurassic. Testing of the well will be completed mid-April.

The well was drilled directionally 1.1km to the north-east from the existing well pad. On completion of testing the well will be connected up to existing production facilities. The well is a result of the continued application of 3D seismic combined with a thorough understanding of reservoir geology.

EWS I - 1

Exploration well EWS I -1 is located on the southern part of the EWS I field. The well was originally drilled in 1971, and was subsequently suspended due to the absence of production infrastructure.

In March 2011, after re-interpreting the well logs, the Group saw that wire line logging indicates the presence of 7.2 m of net oil pay within the Jurassic P reservoir, which represents more than a three fold increase from the previous estimate. The Group perforated additional intervals and the well flowed water-free oil naturally to the surface with a flow rate of 530 bbl/day on a restricted 8 mm choke.

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