Total Boosts Security Spend after Algeria Attack

DUBAI - French oil and gas major Total SA has increased its security spending in the Middle East following a deadly attack in January on an Algerian natural-gas plant that rekindled fears of raids on energy facilities across the region, a senior executive said Wednesday. 

Asked if the company has raised its security measures and spending in the Middle East, Arnaud Breuillac, Total's president for Middle East exploration and production, told Dow Jones Newswires that the company had done so and he said "but it is not only about the money it's about the people, the risk, and the work." 

The firm is "taking extra care (now)," he said, but declined to say how much it was investing on its security plans. 

Last month, Total said it is planning to drill two exploration wells in Libya in May, in a move that shows that recent security concerns haven't stopped international companies from moving forward with their North African oil-development plans. 

The attack on an Algerian gas plant is forcing global oil giants to rethink protection of oil fields in the Middle East and Africa, a new reality that could potentially boost the cost of crude production. Major oil companies have long been a target of kidnappings and low-level sabotage, but the unprecedented scale of the Algeria attack will likely result in new levels of protection. 

It took Algerian forces several days to retake the In Amenas plant, which is jointly operated by Statoil, BP PLC and Algerian energy company Sonatrach. Forty people were killed.

Copyright (c) 2013 Dow Jones & Company, Inc.

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OMV to Boost Exploration, Appraisal Spend in 2013

Austria's OMV said Thursday that it will see a significant increase in its exploration and appraisal expenditure during 2013 compared to 2012.

Reporting its fourth quarter results for 2012, the firm said its plans include high-impact wells this year at Bonna, Wisting and Apollo in the Barents Sea, as well as at Matuku, offshore New Zealand.

OMV said it was expecting a final investment decision in 2013 for the North Sea's Rosebank project, offshore the Shetland Islands, in which it has a 20-percent stake. Meanwhile, in Romania it expects further exploration to take place on the Neptun block after an ongoing 3D seismic survey there is completed.

In Libya, the firm expects production to remain at current levels after volumes recovered in 2012. Production in Libya was badly disrupted in 2011 by the revolution in the country.

OMV warned that the security situation remains volatile in Yemen, where it has recovered production following the repair of an export pipeline.

In the Kurdistan region of Iraq, OMV said that extended well test facilities for its Bina Bawi development are under construction and production testing for sale into the local market is expected to start during the first half of this year.

For 2013 OMV expects production will be broadly similar to that achieved in 2012. Total hydrocarbon production for the fourth quarter of 2012 came in at 301,000 barrels of oil equivalent per day (4Q 2011: 289,000 boepd).

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Total to Spend 80% of $28B Budget on Upstream in 2013

Total reported Wednesday that it will spend more than 80 percent of its organic investment budget for 2013 of $28 billion on its upstream activities.

The French major said it expected to achieve production growth targets of 3 percent per year, on average, through to 2015 and that it would potentially achieve 3 million barrels of oil equivalent per day (boepd) by 2017. In 2012, the company produced an average of 2.3 million boepd compared with 2.35 million boepd in 2011.

Total said its production growth should be fueled by 2012 start ups as well as anticipated 2013 start ups, including Anguille in Gabon, Angola LNG, Kashagan in Kazakhstan and the extension of OML 58 in Nigeria.

Meanwhile, the firm said that it is continuing to work in cooperation with the UK authorities towards "a safe and progressive" restart of the Elgin-Franklin field during the first quarter of 2013. Total confirmed that it suffered a three percent decline in its total production due to the Elgin gas leak incident in the North Sea as well as flooding affecting its Nigeria operations.

A former engineer, Jon is an award-winning editor who has covered the technology, engineering and energy sectors since the mid-1990s. Email Jon at jmainwaring@rigzone.com.

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Total to Spend 80% of $28B Budget on Upstream in 2013

Total reported Wednesday that it will spend more than 80 percent of its organic investment budget for 2013 of $28 billion on its upstream activities.

The French major said it expected to achieve production growth targets of 3 percent per year, on average, through to 2015 and that it would potentially achieve 3 million barrels of oil equivalent per day (boepd) by 2017. In 2012, the company produced an average of 2.3 million boepd compared with 2.35 million boepd in 2011.

Total said its production growth should be fueled by 2012 start ups as well as anticipated 2013 start ups, including Anguille in Gabon, Angola LNG, Kashagan in Kazakhstan and the extension of OML 58 in Nigeria.

Meanwhile, the firm said that it is continuing to work in cooperation with the UK authorities towards "a safe and progressive" restart of the Elgin-Franklin field during the first quarter of 2013. Total confirmed that it suffered a three percent decline in its total production due to the Elgin gas leak incident in the North Sea as well as flooding affecting its Nigeria operations.

A former engineer, Jon is an award-winning editor who has covered the technology, engineering and energy sectors since the mid-1990s. Email Jon at jmainwaring@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

Total to Spend 80% of $28B Budget on Upstream in 2013

Total reported Wednesday that it will spend more than 80 percent of its organic investment budget for 2013 of $28 billion on its upstream activities.

The French major said it expected to achieve production growth targets of 3 percent per year, on average, through to 2015 and that it would potentially achieve 3 million barrels of oil equivalent per day (boepd) by 2017. In 2012, the company produced an average of 2.3 million boepd compared with 2.35 million boepd in 2011.

Total said its production growth should be fueled by 2012 start ups as well as anticipated 2013 start ups, including Anguille in Gabon, Angola LNG, Kashagan in Kazakhstan and the extension of OML 58 in Nigeria.

Meanwhile, the firm said that it is continuing to work in cooperation with the UK authorities towards "a safe and progressive" restart of the Elgin-Franklin field during the first quarter of 2013. Total confirmed that it suffered a three percent decline in its total production due to the Elgin gas leak incident in the North Sea as well as flooding affecting its Nigeria operations.

A former engineer, Jon is an award-winning editor who has covered the technology, engineering and energy sectors since the mid-1990s. Email Jon at jmainwaring@rigzone.com.

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Marubeni to Spend $1B for Gulfstar One Stake

Marubeni confirmed Wednesday that it will buy a 49 percent stake in Gulfstar One, the latter – a company launched by William Partners – is currently constructing a floating platform at the offshore Tubular Bells field held by Hess Corporation and Chevron.

The $1 billion deal could pave a way for Marubeni to participate in North America's expanding shale gas segment.

"Infrastructure projects related to oil and gas production, processing, transportation and distribution have been one of the focused business areas for Marubeni, as represented by its recent investments in gas processing, transportation and distribution projects in Australia," the company said in a statement.

"Marubeni aims to grow this business segment through participation in this project and development of their relationship with Williams," the company added.

The Gulfstar spar platform, designed to process 60,000 barrels of oil per day and 200 million standard cubic feet of gas per day, will be installed in Block 768 of the Gulf of Mexico's Mississippi Canyon area in 4,300 feet of water.

Marubeni and Williams also inked an agreement to cooperate on petrochemical downstream projects, and oil and gas infrastructure developments utilizing gas produced in North America including shale plays.

The Tubular Bells prospect on the Mississippi Canyon Block 725, roughly 135 miles (217 kilometers) southeast of New Orleans, was discovered by the Deepwater Horizon semisub Oct. 29, 2003. The discovery well, drilled to a depth of 31,131 feet (9,489 meters) in approximately 4,300 feet (1,311 meters) of water, found 190 feet (58 meters) of net oil pay. Following the Tubular Bells discovery, a successful appraisal well was drilled in 2006 and encountered hydrocarbons 5 miles (8 kilometers) from the initial well.

BP hired Ocean Confidence (UDW semisub) to drill two sidetrack wells to further delineate the field. A sidetrack well was completed in 1Q 2007, followed by a further appraisal well spudded in October of that same year.

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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Marubeni to Spend $1B for Gulfstar One Stake

Marubeni confirmed Wednesday that it will buy a 49 percent stake in Gulfstar One, the latter – a company launched by William Partners – is currently constructing a floating platform at the offshore Tubular Bells field held by Hess Corporation and Chevron.

The $1 billion deal could pave a way for Marubeni to participate in North America's expanding shale gas segment.

"Infrastructure projects related to oil and gas production, processing, transportation and distribution have been one of the focused business areas for Marubeni, as represented by its recent investments in gas processing, transportation and distribution projects in Australia," the company said in a statement.

"Marubeni aims to grow this business segment through participation in this project and development of their relationship with Williams," the company added.

The Gulfstar spar platform, designed to process 60,000 barrels of oil per day and 200 million standard cubic feet of gas per day, will be installed in Block 768 of the Gulf of Mexico's Mississippi Canyon area in 4,300 feet of water.

Marubeni and Williams also inked an agreement to cooperate on petrochemical downstream projects, and oil and gas infrastructure developments utilizing gas produced in North America including shale plays.

The Tubular Bells prospect on the Mississippi Canyon Block 725, roughly 135 miles (217 kilometers) southeast of New Orleans, was discovered by the Deepwater Horizon semisub Oct. 29, 2003. The discovery well, drilled to a depth of 31,131 feet (9,489 meters) in approximately 4,300 feet (1,311 meters) of water, found 190 feet (58 meters) of net oil pay. Following the Tubular Bells discovery, a successful appraisal well was drilled in 2006 and encountered hydrocarbons 5 miles (8 kilometers) from the initial well.

BP hired Ocean Confidence (UDW semisub) to drill two sidetrack wells to further delineate the field. A sidetrack well was completed in 1Q 2007, followed by a further appraisal well spudded in October of that same year.

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.
For More Information on the Offshore Rig Fleet:
RigLogix can provide the information that you need about the offshore rig fleet, whether you need utilization and industry trends or detailed reports on future rig contracts. Subscribing to RigLogix will allow you to access dozens of prebuilt reports and build your own custom reports using hundreds of available data columns. For more information about a RigLogix subscription, visit http://www.riglogix.com/.

View the original article here