JAKARTA, June 27 (Reuters) - Indonesia's state energy company Pertamina will sign a deal to purchase a stake in an oil and gas block in Iran within a week, an official at Indonesia's energy ministry said on Monday.
Iran's oil and gas infrastructure has stagnated after years of international sanctions that were lifted in January and is now in need of investment.
A deal would be Indonesia's first investment in Iran's upstream oil sector. Last month Pertamina inked a deal to purchase 600,000 tonnes of liquefied petroleum gas from state-owned marketer National Iranian Oil Co.
The announcement comes as Iran is about to launch a new investment contract for companies seeking to bankroll upstream projects in its oil and gas sector.
Foreign investors will be invited to bid for the new contracts in July, Iran's Deputy Oil minister Rokneddin Javadi said in May.
Some 135 companies including BP, Total, Italy's Eni and Spain's Repsol attended a conference in Tehran in November to hear about the Iran Petroleum Contract (IPC).
The IPC would end a buy-back system that dates back more than 20 years that bans foreign companies from booking reserves or taking equity stakes in Iranian companies.
The Tanzanian Petroleum Development Corporation has approved a plan to extend the license term for The Mtwara License of the Ruvuma Production Sharing Agreement in Tanzania by one year.
Following the decision, TDPC is processing the extension for immediate Ministerial approval. The license was previously due to expire in late December this year.
In addition to the license extension, Aminex completed discussions with the TPDC with regards to transferring the outstanding drilling obligations in the northern Lindi License, also covered by the Ruvuma PSA, into the southern Mtwara License. Mtwara includes the approved appraisal area for the Ntorya gas condensate discovery.
TPDC is supporting the transfer of the Lindi drilling obligations to Mtwara and is seeking Ministerial consent. Once consent is received, Aminex and Solo Oil intend to drill the Ntorya-2 appraisal well which will satisfy the appraisal drilling obligation of the asset.
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India-based drilling contractor Aban Offshore has received a letter of award from India’s Oil and Natural Gas Corporation (ONGC) for its 40-year old drillship.
Aban said on Friday that the company received the letter for the deployment of the drillship Aban Abraham for a firm period of two years. According to Aban Offshore, the expected revenues from the contract will be an estimated $87 million. The deployment of the Aban Abraham is expected to start during the fourth quarter of 2016.
The Aban Abraham was originally designed by Gusto Engineering as one of its “Pelican” class triangular jack-up rigs. IHC Holland’s offshore division built it in 1976 and it was converted to a drillship in 2009.
The vessel has a drilling depth of 25,000 ft with a variable load capacity of 8.948 Mlbs.
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UK-based offshore drilling contractor Awilco Drilling has confirmed that the semi-sub WilPhoenix has moored at Apache’s drilling location in the UK North Sea.
The drilling contractor reported on Monday that its 1982-built drilling rig WilPhoenix resumed operations at Apache’s drilling location on the Storr field on Sunday, June 26.
To remind, the rig completed the yard stay in Hartlepool in April. However, at the time, Apache did not agree that the rig was ready to drill nor that Awilco Drilling was entitled to a standby rate.
Awilco said earlier in June that the rig was ready to leave the yard in Hartlepool in order to continue working for Apache with 22 months left under its three-year contract.
WilPhoenix is one of Awilco Drilling’s two enhanced pacesetter semi-submersibles and is equipped for drilling in water depths up to 1,200 ft. Awilco’s other semi-sub, WilHunter, is hot stacked in Invergordon since July 2015.
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Alan Snider, a veteran of more than 26 years in designing and managing complex horizontal directional drilling (HDD) and Direct Pipe® (DP) projects for pipeline crossings, has been named President and Chief Operating Officer at Laney Directional Drilling (Laney).
Laney is a global leader in integrated engineering, HDD and DP construction services. Founded in 1989, Laney has been a trenchless technology pioneer, as has Snider in his career.
At Laney, Snider is responsible for the overall management of the company, including leadership of the HDD; DP; engineering; sales and marketing; and estimating teams. Since joining Laney in 2011, he had served as Vice President of Engineering and Project Management.
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Royal Dutch Shell (RDSa.L) has said it will work alongside the British government and European organisations, even though the oil giant was in favour of Britain voting to remain as part of the European Union.
Although this result has come as a shock to many, for Shell it appears to be business as usual. As the company has said it will continue supplying energy to customers in Europe and the United Kingdom.
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Lloyd’s Register与The Well Academy签署了一份全球框架协议，这标志着双方合作关系的进一步加强。通过签订这份协议，两公司会在世界各地的培训中心展开合作，为钻探和油井服务行业提供低成本、高效益的培训方案。
双方公司于2015年10月首次开展合作，随后于2016年2月推出首个联合Well Control Enhanced Renewal培训项目。尽管市场形式严峻，两公司仍坚持共同投资井控管理和修井技术，同时向全球客户推销培训项目。
此次签订的全球框架协议将使Lloyd’s Register和The Well Academy为欧洲、中东、美国和亚洲的新老客户提供更加便利的服务。目前，荷兰、阿布扎比、卡塔尔和休斯顿的培训中心已经建成，伊朗、新加坡等地的培训中心正在规划中，这些培训中心将把减少客户旅行成本作为特定目标。
来自/World Oil 6月24日消息 编译/赵美园 石油圈原创www.oilsns.com
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Lloyd’s Register and The Well Academy have strengthened their collaboration through the signing of a global frame agreement. This agreement provides a mechanism for the two companies to continue working together to deliver to the drilling and well services industry cost-effective training solutions across a global network of training centers.
In October 2015 both companies first announced their working collaboration, which was subsequently followed up in February 2016 with delivery of the first combined Well Control Enhanced Renewal training course. In spite of challenging market conditions both companies continue to invest together in the development of enhanced well control and well intervention learning solutions while also jointly marketing existing training programs to a combined global client base.
Execution of this global frame agreement enables the training services of both Lloyd’s Register and The Well Academy to be readily available to new and existing clients in Europe, the Middle East, the U.S. and Asia. Training centers have been established in The Netherlands, Abu Dhabi, Qatar and Houston with others including Iran and Singapore planned with the specific aim of reducing client travel expenditure.
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Parsley Energy has formed a dedicated corporate development department and appointed Mike Hinson as V.P. of corporate development, effective July 1. Hinson previously served as the company's V.P. of land. In this new position, Hinson will lead Parsley’s acquisition and divestiture activities.
“Parsley's corporate development activities have added significant value for our shareholders, and forming a dedicated group to oversee these activities demonstrates our commitment to sourcing and executing strategic transactions that we believe will benefit the company in the long run,” Bryan Sheffield, the company's chairman, president, and CEO, said.
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HOUSTON -- MYCELX Technologies, a clean water technology company providing patented solutions for commercial industrial markets worldwide, has entered into an exclusive marketing and distribution agreement with Cameron, a Schlumberger company.
The agreement provides Schlumberger exclusive rights to distribute MYCELX products in the upstream market.
In particular, both companies will work to expedite the industry adoption of MYCELX's new RE-GEN product line as the water treatment method of choice in the upstream oil and gas market. MYCELX will retain its current business in the downstream market for all its products and services.
"We believe the RE-GEN product is a paradigm shift for upstream producers in that it allows them to meet their produced water treatment needs and provides meaningful cost savings," Connie Mixon, MYCELX's CEO, said.
MOL Group has made a new gas discovery in its operated TAL Block in Pakistan, marking the company’s 13th find in the country.
The Tolanj West-1 well is located in the Tolanj field within the TAL block. The exploratory well reached a total depth of 16,210 feet and flowed gas at a rate of 2,300 barrels of oil equivalent per day.
“This is a complex field and the new discovery will allow to monetize and develop Tolanj in an even more efficient way,” said Berislav Gašo, MOL Group’s E&P chief operational officer.
BERLIN (Bloomberg) -- Chancellor Angela Merkel’s coalition is set to ban shale gas fracing in Germany, passing legislation in parliament on Friday that is set to end years of discussion over whether the nation should follow the U.S. in launching a boom in drilling.
Merkel’s coalition of Christian Democrats and the Social Democrats will use their majority to amend natural gas extraction rules, in effect banning the unconventional method of tapping oil and gas deposits not reachable with traditional methods, according to a draft bill obtained by Bloomberg News. Conventional fracing that doesn’t involve extraction from shale may be continued to be practiced under strict rules, the draft shows.
The lawmakers moved quickly after a report that companies such as Exxon Mobil Corp. and Wintershall AG, which sought licenses for exploration, were preparing to move ahead. As long ago as 2014, Merkel’s coalition prepared an mining amendment that would allow shale fracing below 3,000 m under certain geological conditions. The government wanted the companies to hold off on projects until after the amendment was passed.
“We have a new situation where industry said that without any legal rules, we’ll simply start making requests,” said Volker Kauder, parliamentary chief for Merkel’s Christian Democratic-led bloc, in comments to reporters this week in Berlin. “Therefore we had to act.”
Lawmakers from Merkel’s caucus debated the shape of fracing rules as the technology took off in the U.S., providing a dramatic expansion in fossil-fuel production. The government is coming down on the side of environmental groups concerned with the impact of fracing and seeking to rein in pollution. Industry groups such as the BDI lobby backed fracking, noting in a 2014 report that cheaper cheap in the U.S. could pose a competitive threat to Germany.
Yet hydraulic fracing -- pumping water, chemicals and sand to get oil and gas trapped deep beneath rock layers -- is deeply unpopular in Germany. Opposition to easing drilling rules has prompted criticism from mineral water makers to beer brewers and citizen groups worrying about earth tremors caused byfracturing bedrock.
Industry is looking for ways to curb electricity prices, which are higher than in the U.S. Germany draws just 5% of its annual natural gas usage from its own sources, mainly from conventional drilling in Lower Saxony.
Germany’s moratorium on fracing and regulatory uncertainty has lost the country 1 billion euros ($1.13 billion) of investment in the gas industry, Martin Bachmann, a board member Wintershall, the oil and gas unit of BASF SE, said in September.
In a comment as recent as April, Dow Chemical Co. CEO Andrew Liveris said the German government should work harder to explain how natural gas can be safely extracted from shale rock to provide cheap energy and jobs.
The draft amendment on which lawmakers will vote Friday in Berlin will:Ban uncoventional fracing nationwide, excepting 4 test probes for scientific purposes. Lawmakers to review the ban in 2021. Give Germany’s 16 state govts a veto right in whether to allow conventional fracing on their territory. Conventional drilling not permitted in zones supplying water for consumption.
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World Economic Order Shaken- Oil Prices Dive After UK Votes To Leave EU. Oil prices are plummeting Friday morning after the UK on Thursday voted to leave the European Union, prompting fears of weaker economic growth and, consequently, weaker demand. [Oilpro]
How Will The Expansion Of The Panama Canal Impact Oil Flows? The EIA's daily briefing on Thursday explores the implications of the expansion of the Panama Canal,set to begin on June 26, on crude oil and petroleum product flows. [Oilpro]
Crews Stop Southern California Oil Spill From Flowing Into The Ocean. Crews in Ventura County, California, have stopped up to 700 barrels of oil from flowing into the Pacific Ocean after a leak was detected at Prince Barranca valley, officials quoted by the Los Angeles Times said. [Oilpro]
Coming Oil Supply Shortage: Ramping Up The DUCs. Coming on the heels of the last few articles about DUCs (drilled uncompleted wells) another discussion that isbeginning to occur between analysts and companies is the shortage of equipment and manpower. [Oilpro, DrillingInfo]
Iran, Kurdistan Regional Govt Reportedly Close To O&G Deal. Iran and the Kurdistan Regional Government (KRG) are reportedly considering a cooperation agreement that would allow for Kurdish oil to be shipped to Iran, Upstream Online reported. [Oilpro]
CNSOPB Permits Shell To Resume Drilling. The Canada-Nova Scotia Offshore Petroleum Board (CNSOPB) has permitted Shell Canada to resume drilling with restrictions at its Cheshire L-97 exploration well. [Oilpro]
World Bank: Uganda Could Get Rich On Oil. Uganda could dramatically overhaul its economy with the right management policies in place by the time oil starts flowing in 2018, the World Bank said. [UPI]
Noble Energy Wins FEED For Leviathan Field. Leviathan project partners have awarded Noble Energy, the operator, a Front End Engineering Design (FEED) contract for the Leviathan project production platform. The contract is valued at $120 million. [Oilpro]
POSH Wins Support Contract For Shell's Prelude. PACC Offshore Services Holdings (POSH) has won a contract from Technip Oceania to deploy its semi-submersible accommodation vessel POSH Arcadia to support Shell's floating LNG facility Prelude.[Splash 247, Oilpro]
Ithaca To Tie Stella Into Norpipe System. Ithaca Energy Inc. reports that the on-going Greater Stella Area (GSA) development program in the UK central North Sea is in the final stages of commissioning. [Oilpro]
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BUENOS AIRES (Bloomberg) -- The cost to drill wells at Argentina’s Vaca Muerta, site of the world’s second-biggest shale reserves, has dropped 20% this year, putting Chevron Corp. and its partners closer to meeting spending goals.
Drilling costs at Loma Campana field in Vaca Muerta have declined to $11.2 million per well from $14 million in the last three months of 2015, Ali Moshiri, president for Latin America and Africa, said in an interview with Bloomberg News in Buenos Aires on Thursday. That’s putting the joint venture with YPF SA closer to its goal of drilling wells at less than $10 million, he said.
“There are a lot of companies watching Chevron and YPF in Argentina,” Moshiri said. “The performance of those wells are coming very close, very competitive to the United States.”
Oil companies including Exxon Mobil Corp. are rushing to tap Argentina’s shale reserves, the largest after the U.S., as low oil prices put pressure on producers in the U.S. Output in the U.S. has dropped this year as prices plunged, while producers in Argentina have maintained production levels because of government subsidies to stimulate extraction.
Joint Venture
Chevron signed an agreement with state-owned YPF in 2013 to invest $1.6 billion in a pilot program to drill at Vaca Muerta in the Neuqen province. The joint venture, worth about $16 billion, has drilled about 400 wells, Moshiri said.
The government of former President Kristina Fernandez de Kirchner raised the price of oil produced domestically to $75/bbl from $45, gave drillers tax exemptions and capped royalties at 15% since 2012, creating a boom in the oil industry domestically as it struggled globally because of falling prices.
“We are a long-term business; we don’t try to do anything for just a few years,” Moshiri said. “A few years ago no one knew about Chevron in Argentina. Now we are the largest investor in the oil industry.”
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Offshore vessel provider Viking Supply Ships (VSS) has finalized the in-principle agreement with the banks regarding the company’s revised long-term financial platform.
However, the company said, the agreement remains subject to final credit committee approval. The company also said it will continue its negotiations with its investors and remaining financial creditors with an aim to reach a final agreement with them as well.
In accordance with the principle agreements with the banks, the company will not fully pay interest, amortizations or other commitments to neither its financial creditors nor under the Odin Viking bareboat charter contract, other than where an agreement for a long-term financial platform has been reached.
As a consequence of this, the company has received a notice of default from Nordic Trustee (on behalf of the bondholders). The company has for some time been engaged in a dialogue with a few core bondholders and their advisor.VSS stated that, if an acceptable solution is not reached with all relevant financial creditors, Viking Supply Ships will consider all structural and strategic alternatives.
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来自/Subsea World News 6月24日消息 编译/张弘引石油圈原创www.oilsns.com
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Oslo-listed seismic contractor SeaBird has inked an agreement to supply one 2D vessel for an upcoming survey in North West Europe during this coming summer season.
The agreement follows a 2D multi-client survey in North West Europe during Q2 2016 scheduled for approximately two to three weeks, which the company announced in February this year.
According to SeaBird, this deal covers a project scheduled for early Q3 2016 that should run for about 2 months.
The company did not disclose the financial term of the agreement.
BOGOTA, June 23 (Reuters) - Colombia's state oil company Ecopetrol offered 20 oil and gas blocks for auction on Thursday, part of a company plan to cut back amid low global crude prices.
One-hundred and thirty-eight companies from 21 countries, some of which already operate in the Andean country, attended the auction launch, Ecopetrol said in a statement.
"The fields are close to logistical facilities, which adds extra attraction for small and medium sized gas and oil companies," the company said.
The blocks will be sold in an electronic auction on Sept. 30.
Ecopetrol has been selling assets in a bid to fund its investment plan, which is down by $1.8 billion this year.
Subsea 7 has entered into an agreement to substitute a pipelay support vessel (PLSV) working on a day-rate contract for Petrobras, offshore Brazil.
Namely, the companies agreed to substitute the owned PLSV Seven Mar for the chartered PLSV Normand Seven in the existing Normand Seven contract.
To remind, Seven Mar was on a contract with Petrobras until March 31, 2016. The contract was due to expire at the end of 2016, however, the vessel’s operating licence had expired which resulted in the early termination of the contract.
The substitution will be made in late June, and according to the Oslo-listed Subsea 7, there are no other significant changes to the contractual terms and conditions.
As a consequence of this substitution, Subsea 7 said it will return Normand Seven to its owner at the end of its fixed-term charter agreement.
RIO DE JANEIRO, June 23 (Reuters) - Brazil's state-led oil company Petrobras said on Thursday its pension fund has 22.6
billion reais ($6.8 billion) in unfunded liabilities, a new financial burden for what is already one of world's most
indebted firms.
The shortfall at the country's second-largest pension fund is the latest setback to Petrobras' efforts to preserve cash
needed to pay nearly $130 billion in debt. It also comes at a time when Petrobras revenue has plunged due to falling oil
prices and investor confidence has been shattered by a massive corruption scandal.
The company, formally known as Petroleo Brasileiro SA , said that under Brazilian law the amount it and the fund's
beneficiaries must immediately plan to cover is 16.1 billion reais ($4.8 billion).
The law makes Petrobras responsible for half of the adjusted shortfall and beneficiaries must cover the rest through higher
retirement contributions, it said.
The fund, Petros, has more than 75,000 beneficiaries.
Petrobras said contributions needed to cover the shortfall can be spread out for up to 18 years starting in 2017.
Seeking to reduce debt, the company has cut its investment program, once the world's biggest, by more than half,
threatening future revenue by limiting development of some of the world's largest oil discoveries. Attempts to raise cash
and pay debt by selling about $14 billion of assets have also faltered due to the corruption scandal.
The Petros liabilities, based on an audit, are as of Dec. 31, 2015.
石油圈