CAMAC: Data Acquisition Completed at Kenya Blocks

CAMAC Energy Inc. announced that Sander Geophysics Limited has completed shooting airborne gravity and magnetic geophysical surveys on the Company's Kenya onshore Lamu Basin Blocks L1B and L16. The data acquisition covers essentially the entire 4,683 square miles (12,129 square kilometers) in Block L1B and the entire 1,395 square miles (3,613 square kilometers) in Block L16 and satisfies the gravity and magnetic survey requirements for each Block under the relevant Production Sharing Agreements.

The Company expects to receive initial results of the shoot in the third quarter of 2013. Results will be used to optimize the placement of 2-D seismic lines by identifying faults, basement structures and intra-sedimentary volcanic layers and/or intrusions.

"I am pleased that we completed the acquisition of the airborne gravity and magnetic geophysical surveys in Kenya safely, on time, and under budget," said Senior Vice President of Exploration and Production Segun Omidele. "Our geophysical team will now work with SGL to interpret the data and delineate optimal areas for 2-D seismic acquisition."

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Seismic Ops Underway at Petromanas' Albania Blocks

Petromanas Energy Inc. announced late Monday that its 2013 seismic program on Blocks 2 and 3 in Albania is underway.

Petromanas said its contractor, Geotec SpA of Italy, has initiated survey work and the drilling of shot holes. Recording commenced April 15.

Under the terms of the company's farm-out agreement with Royal Dutch Shell plc, Petromanas will be carried on the first $20 million spent on the seismic program, including the test line which was shot in 2012 and which is currently being processed. Any costs in excess of that amount will be shared equally by both parties.

Petromanas also announced that it has cased the Shpirag-2 well in Albania to the top of the main objective carbonate reservoir at a depth of 16,942 feet (5,164 meters). The company set casing from the previous casing depth of approximately 15,584 feet (4,750 meters) to put the lower zone of unstable flysch shale behind pipe. The well is currently drilling ahead in the upper carbonate zone at a depth of approximately 17,060 feet (5,200 meters).

"Successfully casing to this point means we can turn our attention to the carbonate target zone, without having to worry about instability higher in the hole," Petromanas CEO Glenn McNamara said.

"We and our partner remain committed to drilling the target carbonate zone to a sufficient depth so we can run logs and gather sufficient information to assess the potential of this prospect."

Petromanas estimates the total costs to drill the well to date are approximately $60 million, or $17 million net to the firm. The firm's management estimates the total costs to drill the well to the target depth of 19,029 feet (5,800 meters) at approximately $67 million gross. The logistics planning and sourcing for the Shpirag-2 completion/testing program is in the final stages and will be mobilized once the well reaches total depth.

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Seismic Ops Underway at Petromanas' Albania Blocks

Petromanas Energy Inc. announced late Monday that its 2013 seismic program on Blocks 2 and 3 in Albania is underway.

Petromanas said its contractor, Geotec SpA of Italy, has initiated survey work and the drilling of shot holes. Recording commenced April 15.

Under the terms of the company's farm-out agreement with Royal Dutch Shell plc, Petromanas will be carried on the first $20 million spent on the seismic program, including the test line which was shot in 2012 and which is currently being processed. Any costs in excess of that amount will be shared equally by both parties.

Petromanas also announced that it has cased the Shpirag-2 well in Albania to the top of the main objective carbonate reservoir at a depth of 16,942 feet (5,164 meters). The company set casing from the previous casing depth of approximately 15,584 feet (4,750 meters) to put the lower zone of unstable flysch shale behind pipe. The well is currently drilling ahead in the upper carbonate zone at a depth of approximately 17,060 feet (5,200 meters).

"Successfully casing to this point means we can turn our attention to the carbonate target zone, without having to worry about instability higher in the hole," Petromanas CEO Glenn McNamara said.

"We and our partner remain committed to drilling the target carbonate zone to a sufficient depth so we can run logs and gather sufficient information to assess the potential of this prospect."

Petromanas estimates the total costs to drill the well to date are approximately $60 million, or $17 million net to the firm. The firm's management estimates the total costs to drill the well to the target depth of 19,029 feet (5,800 meters) at approximately $67 million gross. The logistics planning and sourcing for the Shpirag-2 completion/testing program is in the final stages and will be mobilized once the well reaches total depth.

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Dana Gas, Eni Receive Blocks in Mediterranean

Dana Gas received a 100 percent working interest in the North El Arish Block 6 concession area in the Nile Delta. This concession is situated in the eastern part of the Mediterranean Sea that lies in water depths that range in or around 3,281 feet spanning about 736,374 acres.

The concession area has an eight-year exploration period that includes three phases, an initial four-year exploration period and two additional two-year extension periods, the company said in a released statement. A 20-year development lease period will be granted based on an approved commercial discovery.

Dana expects to posses the concession in late 2013 following regulatory approval.

“We are pleased with the outcome of this bid round and look forward to the exploration and development of this very prospective new concession," said Rashid Al-Jarwan, executive director and acting chief executive officer of Dana Gas in a statement. "The award of this concession demonstrates Dana Gas' confidence in Egypt over the long term and the company's desire to optimize its coast investments and maximize the value of its portfolio of opportunities."

The company currently produces gas and associated liquids from 10 fields in the Nile Delta. In 2012, the company produced around 32,200 barrels of oil equivalents per day with hopes of increasing this amount in 2013 as compression facilities were added and new fields were brought online.

Dana also pre-qualified as a non-operator in Lebanon's first offshore licensing round which will open for bids in May. There are 10 deep water exploration blocks that are up for bids and lie in water depths ranging from 4,921 to 8,202 feet.

Furthermore, Eni announced it received a deepwater exploration block, Block 9, which is also situated in the eastern Mediterranean of Egypt.

Through its fully owned affiliate, IEOC, Eni will wholly own and operate the block, which spans 930,352 acres. The block lies in water depths ranging from 4,593 to 5,906 feet.

With more than 10 years of journalism experience, Robin Dupre specializes in the offshore sector of the oil and gas industry. Email Robin at rdupre@rigzone.com.

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Petroceltic Awarded Two Egyptian Blocks

Junior explorer Petroceltic International announced Friday that it has been awarded two blocks in Egypt as part of a joint venture with Edison International.

The blocks, North Thekah and South Idku, were awarded in the Egyptian Natural Gas Holding Company 2012 International Bid Round.

North Thekah (Block 7) is located offshore the Nile Delta and potentially contains an extension of the Levantine Basin exploration play that has already yielded some giant discoveries. Petroceltic has a 50-percent, non-operated interest in the concession.

South Idku (Block 1) is located in Petroceltic’s core Egyptian operating area, onshore the Nile Delta. In this concession the company has a 75-percent operated interest.

Petroceltic expects the new licenses to be formally awarded in late 2013, following ratification and finalization of the production sharing contracts.

Petroceltic Chief Executive Brian O’Cathain commented in a statement:

"We are delighted to have been awarded both blocks which, together with last year's El Qa'a Plain award, onshore the Gulf of Suez, significantly enhance our Egyptian exploration portfolio. North Thekah is in an area of the Mediterranean which has seen several world class discoveries in recent years and South Idku will complement our existing onshore Nile Delta operations.

"Furthermore, the award of these blocks is consistent with our strategy of organic growth and opportunistic resource capture in territories where we have existing operations, knowledge and experience."

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Petroceltic Awarded Two Egyptian Blocks

Junior explorer Petroceltic International announced Friday that it has been awarded two blocks in Egypt as part of a joint venture with Edison International.

The blocks, North Thekah and South Idku, were awarded in the Egyptian Natural Gas Holding Company 2012 International Bid Round.

North Thekah (Block 7) is located offshore the Nile Delta and potentially contains an extension of the Levantine Basin exploration play that has already yielded some giant discoveries. Petroceltic has a 50-percent, non-operated interest in the concession.

South Idku (Block 1) is located in Petroceltic’s core Egyptian operating area, onshore the Nile Delta. In this concession the company has a 75-percent operated interest.

Petroceltic expects the new licenses to be formally awarded in late 2013, following ratification and finalization of the production sharing contracts.

Petroceltic Chief Executive Brian O’Cathain commented in a statement:

"We are delighted to have been awarded both blocks which, together with last year's El Qa'a Plain award, onshore the Gulf of Suez, significantly enhance our Egyptian exploration portfolio. North Thekah is in an area of the Mediterranean which has seen several world class discoveries in recent years and South Idku will complement our existing onshore Nile Delta operations.

"Furthermore, the award of these blocks is consistent with our strategy of organic growth and opportunistic resource capture in territories where we have existing operations, knowledge and experience."

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Apache Confirms 14 Blocks from Gulf of Mexico Lease Sale

Apache Corporation announced that its subsidiaries were the apparent high bidders on nine shallow water blocks and five deepwater blocks in the recent Gulf of Mexico (GOM) lease sale held by the U.S. Department of the Interior's Bureau of Ocean Energy Management. Lease Sale 227, held March 20 in New Orleans, received 407 bids from 52 companies on 320 tracts, with the high bids totaling more than $1.2 billion.

On the continental shelf, Apache was the sole bidder on all nine blocks where it submitted bids. The company partnered on seven blocks in the Main Pass area, forming a new joint venture with Apache as the operator and holding a 75-percent working interest. The JV is currently shooting seismic over a 633,000-acre area using new wide azimuth technology to collect data and images under and around salt dome structures.

The company holds a 100-percent working interest in its two other shelf leases acquired in the sale. Apache is currently the largest leaseholder on the Gulf of Mexico's continental shelf with interests in more than 500 blocks.

In the deepwater, Apache was high bidder on five of nine bids, with a 50-percent working interest in each lease. Leases were acquired in the DeSoto Canyon, Green Canyon and Mississippi Canyon lease areas, growing the company's prospect inventory with properties near existing industry discoveries. With the exception of one block, all bids were competitive with other GOM operators.

Overall, the company's net exposure for its winning bids was $2.2 million for the shelf and $24.6 million for deepwater blocks.

"With new acreage, new investments and new ideas, we expect that the Gulf of Mexico will continue to generate strong cash flows and excellent returns," said Jon Jeppesen, executive vice president.

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Indonesia Awards 14 New Oil, Gas Blocks

JAKARTA - The Indonesian government Thursday awarded 14 new oil and gas blocks to investors as the former member of the Organization of Petroleum Exporting Countries struggles to boost crude oil production.

Edi Hermantoro, director general of oil and gas at the Ministry of Energy and Mineral Resources, told reporters the 14 blocks were part of the 16 the government offered to investors last year. Two of them failed to attract interest from investors.

Among the 14 blocks, Mr. Hermantoro said the government awarded:

the West Natuna Block to Premier Oil West Tuna Ltd., a unit of Premier Oil PLC,the West and North East Bangkanai blocks to Salamander Energy PLC,the West Sebuku Block to a consortium led by Inpex Corp. and Mubadala Petroleum Holdings (South East Asia) Ltd., andthe Merangin III Block to Cooper Energy Ltd.

He said the investors will spend $84.30 million in total on exploration activities during the first three years.

Copyright (c) 2012 Dow Jones & Company, Inc.

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ENI Awarded Five GOM Exploration Blocks

Italy's ENI reported Friday that it has been awarded five offshore exploration blocks in the Gulf of Mexico. ENI was the highest bidder for five offshore exploration blocks within the Central Gulf of Mexico Lease Sale 227 that took place in New Orleans.

The blocks are located in the Mississippi Canyon and Desoto Canyon, in water depths of 1,400 feet to 8,000 feet. ENI said they consolidate the firm's acreage position in two key areas in the Gulf of Mexico, where the company currently holds a total of 174 exploration leases.

ENI holds lease interests in 281 blocks in the Gulf of Mexico and is one of the leading producers in the area. The firm's total daily net production in the US is currently around 88,000 barrels of oil equivalent.

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ENI Awarded Five GOM Exploration Blocks

Italy's ENI reported Friday that it has been awarded five offshore exploration blocks in the Gulf of Mexico. ENI was the highest bidder for five offshore exploration blocks within the Central Gulf of Mexico Lease Sale 227 that took place in New Orleans.

The blocks are located in the Mississippi Canyon and Desoto Canyon, in water depths of 1,400 feet to 8,000 feet. ENI said they consolidate the firm's acreage position in two key areas in the Gulf of Mexico, where the company currently holds a total of 174 exploration leases.

ENI holds lease interests in 281 blocks in the Gulf of Mexico and is one of the leading producers in the area. The firm's total daily net production in the US is currently around 88,000 barrels of oil equivalent.

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Yemen Invites Bids for 15 Oil, Gas Exploration Blocks

Yemen has invited international firms to bid for 15 offshore and onshore oil and gas exploration blocks, the country's oil ministry said Wednesday.

Firms that want to participate have until April 20 to submit their letters of intent, the ministry said in a statement.

The ministry added that it was offering 10 offshore blocks and five onshore blocks.

Earlier this month, Yemen accepted bids from nine oil companies to operate five onshore and offshore blocks, which it recently put on offer. Those selected included Hunt Oil Co., Circle Oil, Pakistan Oil Fields and Guney Yildizi Petroleum.

Copyright (c) 2012 Dow Jones & Company, Inc.

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Uganda to Auction 13 Oil Blocks in 2013

KAMPALA, Uganda - The Ugandan government is planning to auction at least 13 oil blocks in the Albertine Rift Basin this year as soon as the government lifts a ban on the licensing of new acreage, Uganda's junior energy and minerals minister said Wednesday.

Peter Lokeris said the planned auction will allow international oil companies to bid for exploration acreage in the basin, where existing companies have discovered deposits of as much as 3.5 billion barrels of crude oil.

The government has demarcated a total of 17 oil blocks in the region, Mr. Lokeris said. Four of the blocks were licensed before Uganda imposed a licensing ban on new acreage in 2007. The remaining blocks will be auctioned as soon as President Yoweri Museveni enacts a new law lifting the licensing ban.

"Competitive rounds for new acreage will be guided by the new petroleum...some of the acreage previously licensed to oil companies has been returned to government through relinquishment requirements and the expiry of licenses" Mr. Lokeris told Dow Jones Newswires on the sidelines of an oil conference in Kampala, the Ugandan capital.

The licensing round will be Uganda's first since it imposed the ban in 2007, which was put in place following the confirmation of commercial oil reserves. Oil exploration companies have since made a flurry of discoveries in the country, increasing the size of Uganda's oil reserves from around 300 million barrels in 2006 to 3.5 billion barrels to date.

Mr. Lokeris said oil exploration companies operating in the Lake Albertine Rift Graben have had a success rate of around 87%, finding oil in 76 oil wells out of the 87 wells drilled so far.

"Preparations for development of some of these discoveries is ongoing before production can commence...This is an exciting time for the country" he said.

Companies with licenses in the country so far include U.K.-based Tullow Oil PLC, France-based Total SA and China's Cnooc Ltd. The three companies are planning to invest around $10-12 billion to develop oil fields in four blocks as Uganda continues plans to join the ranks of African oil producers.

Companies such as Italy's Eni SpA, Russia's Lukoil Holdings, and India's Essar Oil Ltd. have expressed interest in acquiring oil licenses in the country. 

Copyright (c) 2012 Dow Jones & Company, Inc.

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