OIL WORLD WEEKLY
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世界
The Fourth Edition of September , 2012
《 周油世界 》 OIL WORLD WEEKLY Editorial committee
CONTENTS Patronage CPEIA CANSI CPS
Hosts Business Media China AG
P1
Comprehensive News
managing editor
-- Eni makes Pakistan gas find -- Sembcorp Marine acquires SLP -- ExxonMobil increases Bakken acreage -- Nexen Shareholders Approve CNOOC Deal
Gibson
associate editor Tracy
reporter Collins
Sherry
Windy
Ryan
P2
Offshore Oil
International Editor
-- Scottish Development International -- OPTIMUS LTD. -- OMNI INTERNATIONAL -- SAFEHOUSE HABITATS (Scotland) Ltd -- PETROFOCUS LIMITED -- NAUTRONIX
Gina
-- NU-LINKS CORPORATE SOLUTIONS -- Norway probes Ula leak
Advertising Director
-- Chevron boasts Gorgon find -- Petrobras, GE sign $1B pact -- DNV launches new offshore power generation concept -- Balltec completes USAN FPSO project -- Ithaca partially clears blockage on Athena well -- Chinook production begins -- Technip lands Ichthys commissioning
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OIL WORLD WEEKLY
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Comprehensive News
Eni makes Pakistan gas find Eni has made a significant gas discovery onshore Pakistan, in the Badhra Area B exploration concession, located in the Khirtar Fold Belt region, 350 kilometers north of Karachi. The Badhra B North-1 exploratory well, which led to the discovery, was drilled at a total depth of 2,450 meters and encountered over 54 meters of net gas pay in two thick Cretaceous sandstones of the Mughal Kot Formation. During the production test, the well flowed high quality gas from the two reservoirs, respectively at 25 and 35 million standard cubic feet per day (mmscfd). The size of the discovery is currently estimated at between 300 and 400 billion cubic feet of gas in place and its delineation will require further appraisal wells. The discovery is located 20 kilometers east of the Bhit gas processing facility, operated by Eni, which currently handles the gas production from the Bhit and Badhra fields. The drilling of Badhra North B-1 is part of Eni's new strategy in Pakistan which aims to refocus exploration activities in the neighboring areas to productive fields and confirms the presence of significant exploration potential that can be exploited through the application of new geological models. Eni has started discussion with the Pakistani regulator and the joint venture in order to speed up the production of the discovery through a long-term production test that will allow for the commercialization of gas, and help to reduce the national gas deficit. The short time-to-market for the development of the field is part of Eni's strategy to focus on the rapid development of conventional and synergistic assets. Eni, through its subsidiary Eni Pakistan Limited, is operator of the block with a 40% stake in the development phase, together with partners Premier Oil Plc. (6%), Kufpec Pakistan limited (34%) and Oil & Gas Development Company Limited (20%). Eni has been present in Pakistan since 2000 and is the largest producer in the country, with an average equity production at approximately 54,800 barrels of oil equivalent per day in 2011
Sembcorp Marine acquires SLP Sembcorp Marine through its wholly-owned subsidiary SMOE Pte Ltd (SMOE) has acquired from Smulders Group the entire share capital in its wholly-owned subsidiary of SLP Engineering Limited (SLP). SLP, based in Lowestoft Suffolk, United Kingdom (UK), will be renamed Sembmarine SLP Limited (Sembmarine SLP) and will be held through newly incorporated company Sembmarine North Sea Limited (Sembmarine North Sea). Sembmarine North Sea will be 70% owned by SMOE and 30% owned by eight members of the SLP Management team led by its Managing Director, Mr Paul Thomson. The acquisition would be on a willing buyer, willing seller basis and will be funded through SMOE’s internal funds. SMOE will acquire all the shares in SLP from Zefier, a subsidiary of Smulders Group. Under the Sales & Purchase Agreement signed on 14 September 2012, SMOE will pay about £2.5 million for both shares and settlement of the intercompany loans of SLP. The deal will be completed only upon certain conditions being met. The NTA of SLP is about £0.7 million. Mr Ho Nee Sin, Managing Director of SMOE said “Following the acquisition, Sembcorp Marine will now have a footprint in the UK, providing synergistic support and reaching out to its North Sea clientele. Sembmarine SLP offers the opportunity for future growth in new business areas within the renewable energy sector as well as in the fabrication of minimum facilities platforms (MFP) for marginal oil and gas fields in the North Sea and Asia Pacific waters.” Mr Paul Thomson, Managing Director of Sembmarine SLP said “We are delighted to be part of the Sembcorp Marine Group, a leading offshore engineering group with diverse capabilities in rig building, ship construction, ship conversion, ship repair and offshore engineering & construction. With SMOE’s extensive experience in building major offshore structures, it will greatly enhance our objective of becoming the leading UK supplier of EPC services to the offshore energy market.” The above acquisition is not expected to have material impact on the consolidated net tangible assets and earnings per share of Sembcorp Marine for the financial year ending 31 December 2012.
《周油世界》
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OIL WORLD WEEKLY
Comprehensive News
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世界
ExxonMobil increases Bakken acreage Exxon Mobil announced an agreement that will significantly increase its production acreage in the prolific Bakken oil shale region in the U.S. states of North Dakota and Montana. ExxonMobil and its subsidiary, XTO Energy, signed an exchange agreement with Denbury Onshore, LLC, a subsidiary of Denbury Resources Inc., to acquire 100 percent of Denbury’s Bakken shale assets, which consist of approximately 196,000 net acres in North Dakota and Montana, with expected production in the second half of 2012 of more than 15,000 oil equivalent barrels per day. The agreement increases ExxonMobil’s holdings in the Bakken region by about 50 percent to nearly 600,000 acres, giving the company a significant presence in one of the major U.S. growth areas for onshore oil production. “This agreement provides a strategic addition to ExxonMobil’s North American unconventional resource base,” said Andrew P. Swiger, senior vice president of Exxon Mobil Corporation. “ExxonMobil’s financial and technical strength will support continued development of America’s natural resources, which strengthens U.S. energy security while creating jobs and new government revenues for vital services.” In exchange for its Bakken shale assets, Denbury will receive $1.6 billion in cash and acquire ExxonMobil’s interests in the Hartzog Draw field in Wyoming and Webster field in Texas, which currently produce about 3,600 net oil equivalent barrels per day of natural gas and liquids. The Bakken shale acreage will be operated by ExxonMobil subsidiary XTO Energy, which is a leading U.S. oil and natural gas producer and has expertise in developing tight gas, shale gas, coal bed methane and unconventional oil resources. XTO has operations in all major U.S. producing regions.
Nexen Shareholders Approve CNOOC Deal TORONTO - Nexen Inc. shareholders, as expected, overwhelmingly voted in favor of CNOOC Ltd.'s proposed $15.1 billion takeover of the Calgary-based energy company. At a shareholder meeting in Calgary Thursday, Nexen said 99% of votes cast by common shareholders supported the deal. The meeting was webcast. However, the closely scrutinized transaction still needs approvals from Canada's industry ministry as well as from U.S. and European regulators. It represents the biggest test yet of the developed world's willingness to accept Chinese capital for control of strategic resources. State-controlled CNOOC is China's largest offshore oil company by production. By acquiring Nexen it would gain ownership of oil and gas reserves in western Canada, the U.K. North Sea, the Gulf of Mexico and offshore Nigeria. "Today's shareholder vote is one step in the transaction's approval process," Kevin Reinhart, Nexen's interim president and chief executive, told shareholders following the vote. "It's now in the (regulators') hand to assess the tansaction," he said.
《周油世界》
Editorial committee
OIL WORLD WEEKLY
Offshore Oil
Scottish Oil&Gas Companies Highlight
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Scottish Development International Company Profile
SDI offers help and advice to companies looking for the ideal investment location for their business and provides a range of services for businesses thinking about entering the overseas market.SDI are contributing to the Scottish Economy in the following ways. • Encouraging new investment. • Increased support for Scottish and overseas business. • Projecting a strong image for Scottish business abroad. • New programmes to help business grow internationally. • New financial support for companies attending international events. • Our Extended Events Programme.
www.sdi.co.uk
OPTIMUS LTD. Company Profile
Optimus is a Scottish independent engineering consultancy and project delivery company serving the upstream and downstream energy business that has built up an exemplary track record of project success in the North Sea and beyond. The company’s departments cover a range of disciplines including: Process, Safety, Structural, Mechanical, Risk and Decision Analysis, E&I and Project Management. Drawing on decades of industry experience, the Optimus team can provide specialist advice on late life field extension, focussing on maximising value and controlling costs as the field enters the late life and decommissioning stages. With offices in Scotland, Thailand, Australia and Bulgaria, Optimus’s staff are adept at navigating the differing regulations and requirements specific to each country. www.optimusprojects.com
OMNI INTERNATIONAL Company Profile
Omni International is a professionally managed HR consultancy providing global placement services to the Oil & Gas (Up-stream & Down-stream) sector to meet their manpower requirements from senior to junior level. Our Head Office in Bangkok,Thailand is supported by our liaison offices in India (Delhi & Mumbai), UAE, UK & Australia. We have a proven track record of successful placements of manpower across a wide range of profiles. Our extensive network in the Hydrocarbons sector globally facilitates partnership initiatives between all Omni stakeholders. We are very proud of our strong relationship with SDI and our CEO holds the honorable position in the market of being a Global Scot. www.omni-interconsult.com
SAFEHOUSE HABITATS (Scotland) Ltd
Company Profile
Headquartered in Dundee, Scotland we manage our staff and operations, ongoing all over the world, throughout the year. Safehouse habitats have been used and applied to both simple and complex hot work tasks. The Safehouse Habitat is a recognised engineering control that manages and reduces the risks associated with hot work and sources of ignition in a hazardous area. Many clients use the Safehouse habitat as an engineering control for risk mitigation in risk assessment. SafeHouse Habitat’s Mission Statement is simple; “To make hot work safer, effi cient and effective” After 10 years experience of providing habitat solutions all over the world, SafeHouse provide a service which is trusted and relied upon in a number of different industries and sectors.
www.safehousehabitats.com
《周油世界》 Editorial committee
OIL WORLD WEEKLY
Offshore Oil
Scottish Oil&Gas Companies Highlight
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PETROFOCUS LIMITED
Company Profile
Established in 1998, Petrofocus provides software solutions to the drilling and well completion sectors of the oil industry. Most UK operators and an increasing number of overseas clients use our core software program, Completions Manager. Completions Manager allows engineering teams to design and maintain engineering quality well diagrams in a controlled and standardized manner. Using comprehensive symbol libraries and automated drawing features, engineers can create and amend drawings and data quickly and easily without compromising on quality. Petrofocus offers a data management service, converting clients’ existing schematics into Completions Manager format. This combination of software and services achieves a rapid and highly visible improvement in well information integrity, efficiency and safety. www.petrofocus.co.uk
NAUTRONIX Company Profile
Nautronix is uniquely positioned to fulfil its role as ‘Global Leaders in Through Water Communication and Positioning Technology for the Offshore Industry’Nautronix services the needs of the oil and gas customers for Acoustic Positioning and Communication, whether by sale or rental. In Aberdeen we manufacture the application technology to implent the revolutionary “Underwater GPS” system that is NASNet®. NASNet® offers the subsea industry, wide area, high accuracy positioning through the full life of a field. Like all of our NAS (Nautronix Acoustic Subsea) products it is built on the ADS² – Acoustic Digital Spread Spectrum technology platform. Our main products are split into three core areas: • NASNet® - an ‘underwater GPS’ system providing the ideal subsea positioning andnavigational solution • Wireless Controls - acoustic control and monitoring products including thosespecifically designed for BOP systems. • Vessel Systems – vessel positioning, diver communication and pig trackingequipment
www.safehousehabitats.com
NU-LINKS CORPORATE SOLUTIONS
Company Profile
Nu Linx advises CEO’s and Managing Directors of privately-owned businesses and divisional leaders of publicly listed companies. To overpower the competition nu-linx can help accelerate the delivery of your strategy to increase your market share and convert that growth into cash. Nu Linx won’t advise you on M&A or on property purchases. They focus on your creative needs and collaborate with other businesses and experts, at home and abroad, and leverage upon the use of emerging technologies. We will help you define your best alternative to negotiated agreements. Retain us as non-executive advisors for at least a year or appoint us on a project basis. Our pricing model includes a success fee and referrals. Jonathan Brown has thirty years’ experience in new ventures and running an industrial business with operations worldwide. He holds an MBA from the University of Edinburgh Business School and is based in Shanghai. http://ae.linkedin.com/in/linxall
《周油世界》
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OIL WORLD WEEKLY
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Offshore Oil
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Norway probes Ula leak The Norwegian Petroleum Safety Authority (PSA) has launched an investigation the ‘substantial' leak of hydrocarbons from the BP-operated Ula field, the agency announced on 18 September 2012. BP announced it has also launched its own internal investigation. Production has been shut at the southern North Sea field since the incident occurred on 12 September 2012. BP spokesman Jan Erik Geirmo said it was too early to determine when production could resume at Ula. 'Production will not be resumed until the causes of the incident have been clarified and the conditions rectified,' Geirmo said in an email statement to OilOnline. The PSA said that no employees were injured when a leak occurred in the separator module on Ula's production platform. The facility was shut down and all personnel were evacuated to the drilling platform. It has not be estimated how many hydrocarbons may have leaked from the production platform, but the PSA said it chose to get involved due to the ‘the substantial potential involved.' BP operates Ula with 80% interest. DONG holds the remaining 20%.
Chevron boasts Gorgon find Chevron’s Satyr-2 exploration well has encountered natural gas in the Carnarvon Basin, offshore Australia, the supermajor announced on 19 September 2012. The discovery, Chevron’s 15th in Australia since 2009, boasts 128 ft (39 m) of net gas pay. The Satyr-2 well, which sits 75 miles (120 km) northwest of Barrow Island off Australia’s Western coastline, was drilled to a total depth of 12,454 ft (3,796 m) at a water depth of 3,570 ft (1,088 m). ‘The continued exploration success in the Carnarvon Basin could help underpin expansion opportunities at our LNG projects in Australia and support our drive to become a leading supplier of liquefied natural gas to world markets and domestic gas to Western Australia,’ said Melody Meyer, president of Chevron Asia Pacific Exploration and Production Company. Chevron operates the WA-374-P license, which includes the Satyr-2 discovery, with 50% interest. Its partners include Shell (25%) and ExxonMobil (25%).
《周油世界》
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OIL WORLD WEEKLY
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Offshore Oil
世界
Petrobras, GE sign $1B pact Petrobras has awarded GE a $1.1 billion subsea equipment supply contract, the US-based company announced at the 2012 Rio Oil & Gas conference on 18 September 2012. The contract is the largest to date between Petrobras and GE. It calls for GE to supply Petrobras with approximately 380 subsea wellhead systems and installation tools. GE said that about 75% of the parts that will comprise the equipment will be made locally in Brazil. “In recent years our investments and efforts have been focused on preparing our company to support market growth and to be ready for contracts of this size, developing the entire supply chain,’ said João Geraldo Ferreira, president and CEO of GE Oil & Gas for Latin America. ‘We want to grow with the country.’ The subsea equipment will be manufactured at GE’s Jandira facility in São Paulo state, where the company has invested $30 million in an effort to expand production capacity.
DNV launches Wintershall new offshorehits power concept dry generation hole In remote and ultra-deep waters, power generation for large field developments is demanding. By centralizing and sharing the power generation between several production units, the new DNV concept can reduce both emissions and costs. Depending on how it is implemented, the cost saving may also be complemented by enhanced production capacity. The power generation arrangement may reduce CO2 emissions with approximately 40%. The concept, Offshore Power system for a new era (OPera), provides several potential benefits for the connected units. The need for topisde processing power generation at each and every unit is eliminated, and available deck space can be increased. Significant increases in revenue could potentially be achieved with the installation of additional processing capabilities, resulting in more oil production from the same size installation. With its centralized location, OPera allows improvements in operational logistics, by consolidating the location of power generation personnel, maintenance and spare parts. The power hub has a gas fired combined cycle power plant that increases power generation efficiency by more than 15%, compared with conventional gas turbines alone. By consolidating power generation, the power hub also allows equipment to run at more optimal load. This is a major benefit, as it further reduces fuel consumption and overall emissions. The power hub is fueled by associated gas or parts of the export gas produced. The OPera power hub can be designed in different variants, and can also serve as a logistical hub, a centralized CO2 removal unit, or part of offshore LNG production. The OPera concept is highly flexible in size and configuration, making it relevant for different types of fields. The power plant consists of modular gas and steam units of 50 and 100 MW capacities, allowing the combined capacity to be tailored. Depending on water-depth, different platform and hull-designs can support the power plant. The power hub can connect with different numbers and types of installations. DNV invests 6-7 % of its revenue in research and innovation every year. While the majority is spent on long term research and development, the CEO directly finances a portfolio of extraordinary innovation projects. These projects are addressing immediate customer and industry needs, and serve as invitations to further collaboration with customers on their specific needs. The OPera project is only one of many such extraordinary innovations DNV contribute to the global oil and gas and maritime industries.
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Offshore Oil
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Balltec completes USAN FPSO project Balltec Ltd has successfully completed the supply and installation of 41 MoorLOK™ subsea mooring connectors (SMCs) for the Total USAN FPSO and System 0 projects. The MoorLOKs™ are moored in 3000ft of water off the South East Nigerian coast. Balltec, who were contracted by Saipem, started the installation of the SMCs in four distinct areas of the USAN project, the FPSO, SPM Buoy, Offloading Lines (OOL) and Back up Lines (BUL) in the first quarter of 2011. This is the single biggest MoorLOK™ project to date and the highest Minimum Breaking Load (MBL) Balltec has worked to since being established in 2004. The mooring of the FPSO vessel, using 16 off 18,033kN MoorLOK™ connectors started in the first quarter of 2011 and was completed in time for System 0 to be moored in the second quarter. The System 0 contract included the supply of 8 off 10,000kN MoorLOKs™ for the assembly tendons and 4 off 12,000kN MoorLOKs for the top tethers. 4 off 6,000kN MoorLOKs were supplied for back-up lines and the SPM buoy required 9 off 8,000kN MoorLOK connectors. Extensive testing was carried out on the project, following the requirements from Total, the USAN project operators. Russell Benson, Managing Director, Balltec Ltd said: “Balltec is proud to have played a significant part in the development of the USAN field. The selection of the MoorLOK™connector for the USAN project has afforded Balltec the opportunity to take the pre-installation testing of the product to a whole new level. With the help of both TOTAL and Saipem we have categorically proven that our connectors are built for the most extreme cases and I truly believe that we have reaffirmed the Balltec MoorLOK™ as the most advanced and cost effective subsea mooring connector on the market.”
Ithaca partially clears blockage on Athena well Ithaca Energy Inc. announces an Athena field operational and production update. The planned hydraulic intervention to eliminate the production tubing blockage in the P1 well, using a Remotely Operated Vehicle Support Vessel, has been performed. This intervention, involving the pumping of fluids into the P1 well flowline (at the wellhead), has resulted in a minor incremental increase in the previously observed flow rates achieved from the well, with gross production from the well now being approximately 700 to 800 barrels of oil per day (bopd) (160 - 180 bopd net to Ithaca). The production data that has so far been obtained from the field indicates that the anticipated sweep of oil within the reservoir is likely to result in the reserves attributed to P1 being fully produced by the well in its current production condition, supported by recovery from the other wells on the field. The P1 well is the original appraisal well that was drilled on the field in 2006 (completed as a development well in 2011) and represents the least significant producer in terms of forecast ultimate oil recovery from the field. Based on the results of the P1 hydraulic interventions and an assessment of reservoir performance, the Athena co- venturers have decided that the value of producing the P1 well in its current condition outweighs the benefit of performing a workover on the well using a drilling rig. The well will therefore now be produced in its current condition. Future attempts to further clear the blockage by applying hydraulic pressure, using the facilities on the FPSO, may be undertaken when operations allow. The field continues to produce dry oil and the field facilities are performing well. Ithaca third quarter production figures will be announced as usual in early October and a further update on Athena performance will be included at that time. The co-venturers in the Athena field are: Ithaca, operator (22.5%), Dyas UK Limited (47.5%), EWE Energie AG (20%) and Zeus Petroleum Limited (10%).
Chinook production begins Production has begun on the ultra-deepwater Chinook oilfield, Petrobras announced on 13 September 2012. Petrobras' Chinook No. 4 production well was completed in the Lower Tertiary reservoirs, drilled to a depth of 8,000 m. It is connected to the BW Pioneer via subsea equipment and lines. Shuttle tankers will take oil to shore and pipelines will transport gas. The BW Pioneer is the first FPSO to produce in the GOM. It can process up to 80,000 barrels of oil and up to 500,000 cm3 of gas per day, Petrobras said. The BW Pioneer is moored at a depth of 2,500 m, approximately 250 km off the Louisiana coast. Petrobras holds 66.7% interest in Chinook field. Its partner Total Exploration Production USA holds the remaining 33.3%.
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OIL WORLD WEEKLY
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Offshore Oil
Technip lands Ichthys commissioning INPEX has tapped Technip to provide offshore commissioning services for its Ichthys LNG project in a deal worth approximately $274 million (€210 million), the Paris-based company announced on 18 September 2012. Technip will handle preparation and execution for the commissioning of the development’s FPSO unit and central processing facility. The contract will be managed by the company’s Perth office; Work will be completed following delivery of first gas in 4Q 2016. This is the third contract Technip has won regarding the Ichthys LNG development. In April, Technip won a supply contract for a flexible pipeline; in June, the company won a deal for engineering and procurement services on two topsides facilities for the FPSO unit. Itchtys field, located 200km offshore, will send gas to a new 8.4 million ton-capacity onshore LNG facility in Darwin via an 889km subsea pipeline. Peak production is expected to produce 1.6 million tons per annum of liquefied petroleum gas and approximately 100,000 b/d of condensate. Inpex operates Ichthys with 66.1% interest. Its partners include Total (30%), Tokyo Gas (1.6%), Osaka Gas (1.2%), Chubu Electric (0.7%) and Toho Gas (0.4%)
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