Showing posts with label Three. Show all posts
Showing posts with label Three. Show all posts

Sunday, July 7, 2013

Repsol Discovers Oil in Three Alaskan Wells

Repsol Discovers Oil in Three Alaskan Wells

Spain's Repsol reported Tuesday that it has made three oil discoveries in Alaska as it completes its winter drilling campaign in the North Slope region.

Three wells drilled found crude oil at different depths, the firm said. The Qugruk 1 and Qugruk 6 wells produced two hydrocarbons shows that subsequently generated encouraging results during production tests. In the Qugruk 3 well, hydrocarbons were identified at several levels.  The Q-1, Q-3 and Q-6 wells reached depths of 8,180 feet, 10,545 feet and 8,650 feet respectively.

Repsol said the results are encouraging for the future development of the resources discovered. The firm added that the North Slope of Alaska is an "especially promising area for Repsol" as it has shown itself to be oil rich.

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Thursday, July 4, 2013

Repsol Discovers Oil in Three Alaskan Wells

Repsol Discovers Oil in Three Alaskan Wells

Spain's Repsol reported Tuesday that it has made three oil discoveries in Alaska as it completes its winter drilling campaign in the North Slope region.

Three wells drilled found crude oil at different depths, the firm said. The Qugruk 1 and Qugruk 6 wells produced two hydrocarbons shows that subsequently generated encouraging results during production tests. In the Qugruk 3 well, hydrocarbons were identified at several levels.  The Q-1, Q-3 and Q-6 wells reached depths of 8,180 feet, 10,545 feet and 8,650 feet respectively.

Repsol said the results are encouraging for the future development of the resources discovered. The firm added that the North Slope of Alaska is an "especially promising area for Repsol" as it has shown itself to be oil rich.

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Wednesday, May 1, 2013

Brazil's OGX Declares Three Offshore Oil Fields Commercial

Brazil's OGX Declares Three Offshore Oil Fields Commercial

RIO DE JANEIRO - Brazilian independent oil producer OGX Petroleo e Gas Participacoes SA, part of billionaire businessman Eike Batista's industrial empire, said late Wednesday that it had declared three offshore oil fields commercially viable for development.

The commercial declarations mean that OGX will move forward with development of the fields, which could add a much-needed boost to the company's crude-oil production after disappointing results at the Tubarao Azul field. Investors have punished OGX's shares recently amid concerns that the company will be unable to generate sufficient returns.

OGX said two fields in the previously named Pipeline accumulation will be renamed Tubarao Tigre and Tubarao Gato, while the Fuji-Illimani discover will be renamed Tubarao Areia. Evaluation plans were also submitted to local regulators to further explore the Tulum, Viedma and Vesuvio discoveries in the Campos Basin and the Curitiba Belem and Natal discoveries in the Santos Basin.

The submissions were required after exploration periods for OGX's concessions expired on Tuesday.

While commercial declarations are generally seen as positive developments for oil companies in Brazil, OGX's decision to report "in place" oil volumes for the three fields of between 521 million barrels of oil equivalent, or BOE, and 1.34 billion BOE is raising questions.

In-place oil volumes aren't the same as recoverable volumes, or the amount of oil that a company can be expected to recover from a reservoir, noted Credit Suisse in a research report. "We ask ourselves why announce 'in situ' ['in place'] when industry practice is to announce recoverable volumes, something which OGX itself did for its other two fields," Credit Suisse said.

OGX didn't provide the market with the "certainty" about the company that it needs, Credit Suisse said. A month-on-month decline in crude oil output in February caused market analysts to issue a series of downgrades on the company's shares this week, many of them equivalent to a sell rating with price targets at about $1.

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

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Friday, April 12, 2013

Keppel O&M's Order Book Swells $300M with Three New Contracts

Keppel FELS, a wholly-owned subsidiary of Keppel Offshore & Marine (Keppel O&M), has won three contracts worth a combined $300 million from repeat customers, the company disclosed in statement late Wednesday.

The contracts are for the construction of a KFELS B Class jackup from Star Drilling, the upgrading of the semisubmersible Ensco 5006 for Ensco and the upgrading of the semisubmersible Ocean Patriot for Diamond Offshore.

For the contract with Star Drilling, the jackup will be built to Keppel's proprietary design and customized to meet the owner's operational needs in water depths of up to 350 feet for deployment in offshore India. The rig will have a drilling depth capability of 30,000 feet. Delivery of the rig is scheduled for 4Q 2014.

For the contract with Ensco, Keppel FELS' major workscope includes upgrading of the living quarters, and other contract-specific upgrades for operating in Australia on the Inpex's Ichthys project. The vessel is expected to arrive at the yard in 1Q 2014 with redelivery in 2Q 2014, after which it will be chartered to Inpex for work in Australia.

For the contract with Diamond Offshore on the Ocean Patriot, Keppel FELS will undertake the fabrication and installation of four 24-foot diameter stability columns and new lower hull inboard pontoon sponsons as well as upgrade the living quarters. Work on Ocean Patriot is expected to start in June this year, with redelivery at the end of the year. When completed, the semisubmersible will be chartered to Shell for work at the Fram field in the UK North Sea.

"We are glad to be able to continue from 2012 into2013 by adding more contracts to our orderbook. Even as we add to our new orders, we continue to deliver our projects safely, on time and on budget. Just over the last two months, we delivered four newbuild rigs by up to a month ahead of schedule," Keppel O&M's Managing Director, Wong Kok Seng, said in a statement.

Analysts predicted in January that Keppel O&M will this year realize around $4.4 billion in contract wins, the bulk of its revenue coming from delivering jackups, its traditional area of strength.

Earlier this week, Keppel O&M revealed that it was handed two contracts from repeat customers MODEC and Toyo Offshore Production Systems and SBM Offshore. The two contracts in total are worth $161 million.

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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Wednesday, March 6, 2013

Urals Plans Three Wells in Russia in 2013

Russia-focused Urals Energy announced Thursday that it plans to drill up to three new wells during 2013 at its Arcticneft and Petrosakh operations, after the firm resolved legacy issues to do with loans owed to Petraco Oil Company.

Urals said that the only sum that remains outstanding to Petraco relates to interest owed and total approximately $3 million. It added that the interest payment is expected to be made before the end of this year.

Urals has released the security pledge that Petraco has held over the company's Petrosakh asset and it said it is in discussions about Petraco releasing its security pledge over Arcticneft.

Urals reported that current production at Petrosakh is 1,440 barrels of oil per day (bopd). The company is currently developing a drilling program for Petrosakh and plans to drill up to two new wells there in 2013. Petrosakh is estimated to have 2P reserves standing at 16 million barrels.

The firm also said that production at its Arcticneft asset is now stable and stands at 712 bopd. In 2013, Urals plans to drill one well at Arcticneft – which is estimated to have 2P reserves of 43.6 million barrels.

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Friday, March 1, 2013

Urals Plans Three Wells in Russia in 2013

Russia-focused Urals Energy announced Thursday that it plans to drill up to three new wells during 2013 at its Arcticneft and Petrosakh operations, after the firm resolved legacy issues to do with loans owed to Petraco Oil Company.

Urals said that the only sum that remains outstanding to Petraco relates to interest owed and total approximately $3 million. It added that the interest payment is expected to be made before the end of this year.

Urals has released the security pledge that Petraco has held over the company's Petrosakh asset and it said it is in discussions about Petraco releasing its security pledge over Arcticneft.

Urals reported that current production at Petrosakh is 1,440 barrels of oil per day (bopd). The company is currently developing a drilling program for Petrosakh and plans to drill up to two new wells there in 2013. Petrosakh is estimated to have 2P reserves standing at 16 million barrels.

The firm also said that production at its Arcticneft asset is now stable and stands at 712 bopd. In 2013, Urals plans to drill one well at Arcticneft – which is estimated to have 2P reserves of 43.6 million barrels.

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Wednesday, February 6, 2013

BP Confirms Identities of Three Employees Killed in Algeria

BP "with great sadness" on Monday confirmed the identities of three of its employees who lost their lives following the terrorist attack on the In Amenas joint venture gas facility in Algeria on Jan. 16.

"We are in frequent, close contact with the families of these employees and, with their consent, are able to confirm our colleagues’ identities," BP commented.

Those employees are:

Sebastian (Seb) John, 26

Seb John, from Nottingham, joined BP in September 2012, as a Civil & Structural Engineer. Seb was a member of the BP’s graduate development programme, and had recently joined the In Amenas joint venture team. He was on his first trip to Algeria.

"Without doubt, Seb was going to succeed” said Andy McEwan, a colleague from BP’s North Africa region. “He was definitely one of a kind when it came to work, as a character and as a person. There are no words that can describe how much Sebastian will be missed by us."

Seb was married to Nicola, with a young son.

Carlos Estrada, 44

Carlos Estrada, originally from Colombia, was living in London, and had worked for BP since 1995. Carlos was a vice-president with BP’s Upstream Global Projects Organisation and was visiting the In Amenas site to provide expertise on BP’s interests in projects in Algeria.

BP North Africa President, and friend of Carlos, Felipe Posada said: "Everyone loved Carlos, he was full of energy, passionate about what he did, incredibly smart and liked by everyone he met. He was a huge talent for the future. He was also a great personal friend of mine and of many others. I will greatly miss him as I know will very many people in BP."

Carlos was married to Claudia, with two young daughters.

Gordon Rowan, 58

Gordon Rowan, from Oregon in the U.S., was a Well Operations & Engineering Manager and had worked for BP and formerly ARCO since 1986. Having spent time at Algeria’s Rhourde El Baguel field, he had returned to the country to work at In Amenas after a period in China.

Mark Cobb, Gordon’s colleague, who was also involved in the incident, said of him: "He was respected by all of his colleagues for his openness, personal integrity and commitment to the safety of his people. He was a leader that people wanted to follow, leadership which he fostered though his commitment to the development of his staff. He lived the BP values and was a great reflection of BP within In Amenas."

Gordon had two sons, Dan and Richard.

A fourth employee is also feared to have lost his life in the attack. BP said it was unable at this time to comment on his identity.

Bob Dudley, BP Group Chief Executive, said: "This is confirmation of devastating news and our hearts go out to the families, friends, colleagues and loved ones of these men. We cannot imagine the grief of those closest to them but we know they are very much in the thoughts of so many people in BP. We will continue to do everything we can to assist and support them at this time. They were our colleagues and friends and we will remember them and honour their memory."

BP requests that people show consideration for the families of our colleagues and continue to respect their privacy.

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Saturday, January 26, 2013

Eni Wins Three Licenses Offshore Cyprus

Italy's Eni announced Thursday that it has been awarded three offshore exploration blocks in the Republic of Cyprus. The firm said it has now signed exploration and production contracts with Cyprus’s Ministry of Commerce, Industry and Tourism for Blocks 2, 3 and 9, which are located in the Cypriot deep offshore portion of the Levantine Basin.

Eni was awarded the three blocks, which cover an area of around 4,800 square miles, after leading a consortium of it and Korean company Kogas. Eni is operator, with an 80-percent share in the licenses, while Kogas holds the remaining 20 percent.

Eni said that the awards, which mark its entry into Cyprus, are of significant importance for the consolidation of its position in the Mediterranean region – which it regards as a strategic area in its exploration and production portfolio.

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Tuesday, December 11, 2012

Event Three

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When? Sat, Mar. 17, 2012 2:41 p.m. - 4:41 p.m. US/Central Where?

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