Sonde Resources, Viking Energy Enter Agreement for Farm-Out Extension

Sonde Resources Corp. announced it has entered into an agreement with Viking Energy North Africa Limited to extend the deadline for meeting the conditions precedent under the Farm-Out Agreement that includes obtaining the consent of Joint Oil to the transfer of a 66.67 percent interest in the Joint Oil Block pursuant to the previously announced farm-out agreement to June 7. To date, the Company and Viking have held a series of discussions and exchanged correspondence with Joint Oil regarding the proposed farm-out and the conditions upon which Joint Oil would be prepared to provide its approval.

As previously disclosed, some of the conditions imposed by Joint Oil are acceptable to the Company and Viking, while others are not. The Company does not believe that the outstanding conditions are supportable under the terms and conditions of the Exploration Production Sharing Agreement and the parties are continuing to seek an acceptable resolution of these issues. While the Company believes that the farm-out should be approved on its merits, no assurance can be given that Joint Oil will approve it or that the farm-out will close. Additionally, there can be no assurance that Viking will agree to a further extension of time if the approval of Joint Oil is not forthcoming prior to June 7.

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Jubilant Spuds Second Kharsang Extension Well

India-focused Jubilant Energy reported Monday that it has spud the second well of its Phase III Extension development drilling campaign on the oil-producing Kharsang field in the Upper Assam Basin, onshore northeast India.

The KPL-3E-4 well, located in the northwestern area of the field, is being drilled as an infill development well with the H-00 reservoir as the primary objective and the G-00 reservoir as the secondary target. The well is to be deviated by approximately 1,170 feet towards the southeast from the existing plinth of well KSG No. 27 and will be drilled to a target depth of approximately 3,550 feet measured depth.

The well is expected to take up to three weeks to drill.

The first development well of the current campaign on the Kharsang field, KSG No. 65, was spud Feb. 18 and was successfully drilled to a target depth of 3,755 feet. Nine potentially hydrocarbon-bearing sands were encountered in the well, with total net pay being 144 feet. Eight of these sands appear to be oil-bearing.

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Statoil Gives Go-Ahead to Smorbukk South Extension Project

Statoil reported Wednesday that, along with its partners, it has decided to go ahead with the Smørbukk South Extension project on the Åsgard development, offshore Norway.

The extension holds estimated recoverable reserves of 16.5 million barrels of oil equivalent and will be developed with a new subsea template that will be connected to existing infrastructure in the area.

Recovered gas will be re-injected into the reservoir in order to maintain pressure as oil is drained out of it. The field will be connected to the Åsgard A FPSO installation.

Astrid Helga Jørgenvåg, Statoil's asset owner for Åsgard, commented in a company statement:

"We've matured a profitable project out of a discovery from 1985. Experience from Åsgard operations, existing infrastructure and a bit of patience have contributed to an investment decision for this project.

"In addition we will consider the use of a new well technology that will increase the recovery from this type of reservoir. Smørbukk South Extension is a strategically important project that emphasizes our ambitions to increase recovery from mature areas."

The extension project will use standard equipment, and Statoil has already made investments to minimize the time from project sanction to production start-up, the firm said.

Statoil will now award several contracts for the development, it added.

Drilling operations are planned to begin in early 2015, with production start-up planned for September 2015. Total investments for the project are estimated to be around $595 million.

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Statoil Gives Go-Ahead to Smorbukk South Extension Project

Statoil reported Wednesday that, along with its partners, it has decided to go ahead with the Smørbukk South Extension project on the Åsgard development, offshore Norway.

The extension holds estimated recoverable reserves of 16.5 million barrels of oil equivalent and will be developed with a new subsea template that will be connected to existing infrastructure in the area.

Recovered gas will be re-injected into the reservoir in order to maintain pressure as oil is drained out of it. The field will be connected to the Åsgard A FPSO installation.

Astrid Helga Jørgenvåg, Statoil's asset owner for Åsgard, commented in a company statement:

"We've matured a profitable project out of a discovery from 1985. Experience from Åsgard operations, existing infrastructure and a bit of patience have contributed to an investment decision for this project.

"In addition we will consider the use of a new well technology that will increase the recovery from this type of reservoir. Smørbukk South Extension is a strategically important project that emphasizes our ambitions to increase recovery from mature areas."

The extension project will use standard equipment, and Statoil has already made investments to minimize the time from project sanction to production start-up, the firm said.

Statoil will now award several contracts for the development, it added.

Drilling operations are planned to begin in early 2015, with production start-up planned for September 2015. Total investments for the project are estimated to be around $595 million.

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Statoil Gives Go-Ahead to Smorbukk South Extension Project

Statoil reported Wednesday that, along with its partners, it has decided to go ahead with the Smørbukk South Extension project on the Åsgard development, offshore Norway.

The extension holds estimated recoverable reserves of 16.5 million barrels of oil equivalent and will be developed with a new subsea template that will be connected to existing infrastructure in the area.

Recovered gas will be re-injected into the reservoir in order to maintain pressure as oil is drained out of it. The field will be connected to the Åsgard A FPSO installation.

Astrid Helga Jørgenvåg, Statoil's asset owner for Åsgard, commented in a company statement:

"We've matured a profitable project out of a discovery from 1985. Experience from Åsgard operations, existing infrastructure and a bit of patience have contributed to an investment decision for this project.

"In addition we will consider the use of a new well technology that will increase the recovery from this type of reservoir. Smørbukk South Extension is a strategically important project that emphasizes our ambitions to increase recovery from mature areas."

The extension project will use standard equipment, and Statoil has already made investments to minimize the time from project sanction to production start-up, the firm said.

Statoil will now award several contracts for the development, it added.

Drilling operations are planned to begin in early 2015, with production start-up planned for September 2015. Total investments for the project are estimated to be around $595 million.

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Statoil Confirms Extension to Johan Sverdrup Field

Norway's Statoil reported Tuesday that it has confirmed that the Johan Sverdrup field extends into production license 502 after completing appraisal well 16/15-3.

The well was drilled into production license 502, which neighbors PL265 and PL501 where the Johan Sverdrup discovery resides. Statoil said that well 16/15-3 proved a 44-foot oil column in a high-quality Jurassic reservoir and confirmed communication with the rest of the Johan Sverdrup field, which means additional upside to the field's resources.

Øivind Reinertsen, Statoil's senior vice president for Johan Sverdrup field development, commented in a company statement:

"Results of well 16/5-3 will be integrated in the on-going development work for the Johan Sverdrup field. The PL502 volumes will be included in the total resource estimate for Johan Sverdrup which Statoil as pre-unit operator will communicate by the end of 2013."

Meanwhile, Statoil believes that the results of the well indicate there may be further upside potential in the area. The company's vice president for exploration in Norway, Gro Haatvedt, said that new subsurface data indicates further upside potential west of the current outline of the Johan Sverdrup field.

"Later this year Statoil will drill an exploration well in the Cliffhanger prospect in PL265. This will be an important step to clarify and capture the full potential in the Johan Sverdrup area," added Haatvedt.

Statoil is the operator of PL502, with a stake of 44.4 percent. Petoro and Det norske oljeselskap hold interests of 33.3 percent and 22.2 percent respectively.

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Statoil Confirms Extension to Johan Sverdrup Field

Norway's Statoil reported Tuesday that it has confirmed that the Johan Sverdrup field extends into production license 502 after completing appraisal well 16/15-3.

The well was drilled into production license 502, which neighbors PL265 and PL501 where the Johan Sverdrup discovery resides. Statoil said that well 16/15-3 proved a 44-foot oil column in a high-quality Jurassic reservoir and confirmed communication with the rest of the Johan Sverdrup field, which means additional upside to the field's resources.

Øivind Reinertsen, Statoil's senior vice president for Johan Sverdrup field development, commented in a company statement:

"Results of well 16/5-3 will be integrated in the on-going development work for the Johan Sverdrup field. The PL502 volumes will be included in the total resource estimate for Johan Sverdrup which Statoil as pre-unit operator will communicate by the end of 2013."

Meanwhile, Statoil believes that the results of the well indicate there may be further upside potential in the area. The company's vice president for exploration in Norway, Gro Haatvedt, said that new subsurface data indicates further upside potential west of the current outline of the Johan Sverdrup field.

"Later this year Statoil will drill an exploration well in the Cliffhanger prospect in PL265. This will be an important step to clarify and capture the full potential in the Johan Sverdrup area," added Haatvedt.

Statoil is the operator of PL502, with a stake of 44.4 percent. Petoro and Det norske oljeselskap hold interests of 33.3 percent and 22.2 percent respectively.

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Apache Awards Contract Extension to Flexlife

Subsea services firm Flexlife announced Wednesday that it is hopeful that it will take on more staff next year after being awarded an extension to a contract with Apache North Sea worth approximately $8 million a year.

A team of 30 Flexlife subsea staff based in Aberdeen and Newcastle, UK, are dedicated to the Apache North Sea work at present and this could rise over the next year.

Flexlife – which specializes in subsea integrity and project management – was originally awarded a three-year deal, worth $21 million. The new contract is a one-year extension to project manage work that has a capital expenditure value of more than $208 million. The contract also covers the ongoing integrity management of all the subsea infrastructure and pipeline at the Forties and Beryl fields.

Flexlife CEO Ciaran O'Donnell said in a company statement:

"Building on what has already been a successful three years ensuring subsea integrity and project management for Apache, Flexlife is delighted to have secured an additional one year contract extension. The company has worked closely with Apache to ensure we meet their ambitious objectives for the successful development of their subsea assets."

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Apache Awards Contract Extension to Flexlife

Subsea services firm Flexlife announced Wednesday that it is hopeful that it will take on more staff next year after being awarded an extension to a contract with Apache North Sea worth approximately $8 million a year.

A team of 30 Flexlife subsea staff based in Aberdeen and Newcastle, UK, are dedicated to the Apache North Sea work at present and this could rise over the next year.

Flexlife – which specializes in subsea integrity and project management – was originally awarded a three-year deal, worth $21 million. The new contract is a one-year extension to project manage work that has a capital expenditure value of more than $208 million. The contract also covers the ongoing integrity management of all the subsea infrastructure and pipeline at the Forties and Beryl fields.

Flexlife CEO Ciaran O'Donnell said in a company statement:

"Building on what has already been a successful three years ensuring subsea integrity and project management for Apache, Flexlife is delighted to have secured an additional one year contract extension. The company has worked closely with Apache to ensure we meet their ambitious objectives for the successful development of their subsea assets."

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EnQuest Approves Extension of Alma/Galia Project

North Sea-focused EnQuest announced Monday that it has approved an increase in the scope and specification for its Alma/Galia project, with the objective of extending field life as well as operating costs and enabling a potential second-phase development. The firm said the changes are expected to extend the life of its FPSO (floating production storage and offloading) vessel at the field by up to 15 years.

With the extended field life, gross 2P reserves there have been increased from 29 million barrels of oil equivalent to 34 million barrels of oil equivalent, according to estimates from Gaffney Cline. The improvements at the field are expected to increase the gross capital expenditure for the project by approximately $200 million.

The firm added that it has also approved the sanctioning of the next phase of the Thistle field's late life extension project. This was a result of the project qualifying for the Brown Field Allowances program, which was announced by the UK government in late 2012.

Meanwhile, EnQuest reported production for 2012 of 22,802 barrels of oil equivalent per day (boepd), which was in line with its guidance of between 20,000 and 24,000 boepd. The firm said the figure reflected good year-end production performances from all of EnQuest's fields.

EnQuest Chief Executive Amjad Bseisu commented in a statement:

"It is good to be able to report average production of 22,802 boepd for 2012, above the middle of the range of our guidance, which is a testament to the success of our drilling program and good reservoir management.

"First oil for the Alma/Galia project is still anticipated for Q4 2013. The first phase of the project is now expected to generate significantly greater returns than those foreseen at the time of sanction. The further increase to 34 million barrels of oil equivalent in gross 2P reserves for Alma/Galia represents a more attractive first phase development and, with the newly sanctioned improvements, more potential reserves with a second phase."

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EnQuest Approves Extension of Alma/Galia Project

North Sea-focused EnQuest announced Monday that it has approved an increase in the scope and specification for its Alma/Galia project, with the objective of extending field life as well as operating costs and enabling a potential second-phase development. The firm said the changes are expected to extend the life of its FPSO (floating production storage and offloading) vessel at the field by up to 15 years.

With the extended field life, gross 2P reserves there have been increased from 29 million barrels of oil equivalent to 34 million barrels of oil equivalent, according to estimates from Gaffney Cline. The improvements at the field are expected to increase the gross capital expenditure for the project by approximately $200 million.

The firm added that it has also approved the sanctioning of the next phase of the Thistle field's late life extension project. This was a result of the project qualifying for the Brown Field Allowances program, which was announced by the UK government in late 2012.

Meanwhile, EnQuest reported production for 2012 of 22,802 barrels of oil equivalent per day (boepd), which was in line with its guidance of between 20,000 and 24,000 boepd. The firm said the figure reflected good year-end production performances from all of EnQuest's fields.

EnQuest Chief Executive Amjad Bseisu commented in a statement:

"It is good to be able to report average production of 22,802 boepd for 2012, above the middle of the range of our guidance, which is a testament to the success of our drilling program and good reservoir management.

"First oil for the Alma/Galia project is still anticipated for Q4 2013. The first phase of the project is now expected to generate significantly greater returns than those foreseen at the time of sanction. The further increase to 34 million barrels of oil equivalent in gross 2P reserves for Alma/Galia represents a more attractive first phase development and, with the newly sanctioned improvements, more potential reserves with a second phase."

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AusGroup Snags Extension Work with Apache Energy

Singapore-listed AusGroup disclosed late Wednesday that through its subsidiary AGC Industries, it has been awarded an extension of its existing contract with Apache Energy for ongoing works on Varanus Island and associated offshore facilities.

Valued around $16 million, scope of works involves mechanical services, sheet metal fabrication, scaffolding and rigging and instrumentation and electrical services.

AGC will also provide minor capital works services including the fabrication and installation of pipe and structural work, roofing and wall cladding, painting and protective coatings, piping and, electrical upgrades.

AGC's involvement on site will extend to shutdown works.

Commenting on AusGroup's expected performance moving into the rest of 2013, OSK Research's analyst Lee Yue Jer said: "We continue to expect a good order win momentum."

Located off the northwest coast of Western Australia's Pilbara region, the Varanus Island Processing Hub consists of oil terminal facilities, gas processing trains, low temperature separation and stabilization as well as gas compression, water treatment and reinjection.

Quintella has reported on the upstream and downstream oil and petrochemicals markets from 2004. Email Quintella at quintella.koh@rigzone.com.

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AusGroup Snags Extension Work with Apache Energy

Singapore-listed AusGroup disclosed late Wednesday that through its subsidiary AGC Industries, it has been awarded an extension of its existing contract with Apache Energy for ongoing works on Varanus Island and associated offshore facilities.

Valued around $16 million, scope of works involves mechanical services, sheet metal fabrication, scaffolding and rigging and instrumentation and electrical services.

AGC will also provide minor capital works services including the fabrication and installation of pipe and structural work, roofing and wall cladding, painting and protective coatings, piping and, electrical upgrades.

AGC's involvement on site will extend to shutdown works.

Commenting on AusGroup's expected performance moving into the rest of 2013, OSK Research's analyst Lee Yue Jer said: "We continue to expect a good order win momentum."

Located off the northwest coast of Western Australia's Pilbara region, the Varanus Island Processing Hub consists of oil terminal facilities, gas processing trains, low temperature separation and stabilization as well as gas compression, water treatment and reinjection.

Quintella has reported on the upstream and downstream oil and petrochemicals markets from 2004. Email Quintella at quintella.koh@rigzone.com.

Generated by readers, the comments included herein do not reflect the views and opinions of Rigzone. All comments are subject to editorial review. Off-topic, inappropriate or insulting comments will be removed.

View the original article here

AusGroup Snags Extension Work with Apache Energy

Singapore-listed AusGroup disclosed late Wednesday that through its subsidiary AGC Industries, it has been awarded an extension of its existing contract with Apache Energy for ongoing works on Varanus Island and associated offshore facilities.

Valued around $16 million, scope of works involves mechanical services, sheet metal fabrication, scaffolding and rigging and instrumentation and electrical services.

AGC will also provide minor capital works services including the fabrication and installation of pipe and structural work, roofing and wall cladding, painting and protective coatings, piping and, electrical upgrades.

AGC's involvement on site will extend to shutdown works.

Commenting on AusGroup's expected performance moving into the rest of 2013, OSK Research's analyst Lee Yue Jer said: "We continue to expect a good order win momentum."

Located off the northwest coast of Western Australia's Pilbara region, the Varanus Island Processing Hub consists of oil terminal facilities, gas processing trains, low temperature separation and stabilization as well as gas compression, water treatment and reinjection.

Quintella has reported on the upstream and downstream oil and petrochemicals markets from 2004. Email Quintella at quintella.koh@rigzone.com.

Generated by readers, the comments included herein do not reflect the views and opinions of Rigzone. All comments are subject to editorial review. Off-topic, inappropriate or insulting comments will be removed.

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Vanoil Receives Extension on Kenya PSC

Vanoil Energy reported Friday that the Kenyan Ministry of Energy has extended the deadlines within which Vanoil must satisfy the work program obligations defined in its Production Sharing Contract (PSC).

Previously, Vanoil was obligated to finish drilling its first well by April 30, 2013. Now, under the terms of the latest extension, Vanoil must only commence drilling its first well before July 31, 2013 and, with sufficient technical justification, Vanoil may place its first two wells anywhere within the boundaries of Block 3A and 3B to satisfy the work program obligations within the Initial Exploration Period of its PSC.

Aaron D'Este, the company's president and CEO, stated; "We were very pleased to secure this key extension. Vanoil is the first company to complete 3D seismic onshore in Kenya and our exploration program is among the most robust ever completed in country. The time extension granted to Vanoil allows us to fully realise value from our 3D data and to drill our first two wells in rapid succession. The ability to place both wells anywhere within the boundaries of 3A and 3B also gives Vanoil the flexibility to target its most exciting prospects. We view 2013 as a transformational year for the Company and we now have the time and operational flexibility to extract maximum value from our assets."

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Vanoil Receives Extension on Kenya PSC

Vanoil Energy reported Friday that the Kenyan Ministry of Energy has extended the deadlines within which Vanoil must satisfy the work program obligations defined in its Production Sharing Contract (PSC).

Previously, Vanoil was obligated to finish drilling its first well by April 30, 2013. Now, under the terms of the latest extension, Vanoil must only commence drilling its first well before July 31, 2013 and, with sufficient technical justification, Vanoil may place its first two wells anywhere within the boundaries of Block 3A and 3B to satisfy the work program obligations within the Initial Exploration Period of its PSC.

Aaron D'Este, the company's president and CEO, stated; "We were very pleased to secure this key extension. Vanoil is the first company to complete 3D seismic onshore in Kenya and our exploration program is among the most robust ever completed in country. The time extension granted to Vanoil allows us to fully realise value from our 3D data and to drill our first two wells in rapid succession. The ability to place both wells anywhere within the boundaries of 3A and 3B also gives Vanoil the flexibility to target its most exciting prospects. We view 2013 as a transformational year for the Company and we now have the time and operational flexibility to extract maximum value from our assets."

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Oilex Receives Conditional PSC Extension Offshore Timor Leste

Oilex said Friday that it has been advised by the Autoridade Nacional do Petróleo of Timor Leste that the current contract expiry date for the Joint Petroleum Development Area (JPDA) 06-103 Production Sharing Contract (PSC) has been extended by one year to Jan.15, 2014.

The extension, sought by Oilex, the operator of the block with a 10 percent stake, comes with a requirement to secure a suitable rig by June 15, 2013.

"Engineering reviews and negotiations continue in an effort to identify and secure a suitable rig from several possible candidates," Oilex said in its disclosure on Friday.

The partners of the block have been preparing to drill the Bazartete prospect since the middle of last year as the third commitment well under the PSC terms, but they have been unable to spud a well due to a lack of rig availability.

Besides Oilex, other oil operators in the Southeast Asian region are also experiencing difficulties in securing rigs for their drilling programs. Gas2Grid's Director Patrick Sam Yue told Rigzone on Thursday that he has received several requests from regional oil operators seeking to loan the company's rigs, Rig-1 and Rig-2, for drilling their programs this year.

Oilex disclosed in a statement last year that the Bazartete prospect is selected due to its resource potential. The prospect, said Oilex, has an unrisked mean prospective oil resource of approximately 70 million barrels, with a 23 percent success within JPDA 06-130.

The Bazartete prospect is located in the Northern Bonaparte Basin and is near to producing oilfields, Laminaria/Corallina and Kitan as well as the Kuda Tasi oil discovery.

The partners in the PSC, apart from Oilex, are: Videocon JPDA 06-103 (20 percent), GSPC (20 percent), Bharat PetroResources (20 percent), Japan Energy E&P (15 percent) and Pan Pacific Petroleum (15 percent).

JPDA 06-103 is sited within the northern Bonaparte Basin, offshore northwest Australia, within the JPDA where Timor Leste is the designated authority.

Quintella has reported on the upstream and downstream oil and petrochemicals markets from 2004. Email Quintella at quintella.koh@rigzone.com.

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Oilex Receives Conditional PSC Extension Offshore Timor Leste

Oilex said Friday that it has been advised by the Autoridade Nacional do Petróleo of Timor Leste that the current contract expiry date for the Joint Petroleum Development Area (JPDA) 06-103 Production Sharing Contract (PSC) has been extended by one year to Jan.15, 2014.

The extension, sought by Oilex, the operator of the block with a 10 percent stake, comes with a requirement to secure a suitable rig by June 15, 2013.

"Engineering reviews and negotiations continue in an effort to identify and secure a suitable rig from several possible candidates," Oilex said in its disclosure on Friday.

The partners of the block have been preparing to drill the Bazartete prospect since the middle of last year as the third commitment well under the PSC terms, but they have been unable to spud a well due to a lack of rig availability.

Besides Oilex, other oil operators in the Southeast Asian region are also experiencing difficulties in securing rigs for their drilling programs. Gas2Grid's Director Patrick Sam Yue told Rigzone on Thursday that he has received several requests from regional oil operators seeking to loan the company's rigs, Rig-1 and Rig-2, for drilling their programs this year.

Oilex disclosed in a statement last year that the Bazartete prospect is selected due to its resource potential. The prospect, said Oilex, has an unrisked mean prospective oil resource of approximately 70 million barrels, with a 23 percent success within JPDA 06-130.

The Bazartete prospect is located in the Northern Bonaparte Basin and is near to producing oilfields, Laminaria/Corallina and Kitan as well as the Kuda Tasi oil discovery.

The partners in the PSC, apart from Oilex, are: Videocon JPDA 06-103 (20 percent), GSPC (20 percent), Bharat PetroResources (20 percent), Japan Energy E&P (15 percent) and Pan Pacific Petroleum (15 percent).

JPDA 06-103 is sited within the northern Bonaparte Basin, offshore northwest Australia, within the JPDA where Timor Leste is the designated authority.

Quintella has reported on the upstream and downstream oil and petrochemicals markets from 2004. Email Quintella at quintella.koh@rigzone.com.

Generated by readers, the comments included herein do not reflect the views and opinions of Rigzone. All comments are subject to editorial review. Off-topic, inappropriate or insulting comments will be removed.

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