Monday, 15 December 2014

Gazprom and Lukoil address associated gas processing at Sosnogorsk gas processing plant - 15/12/2014

Gazprom and Lukoil address associated gas processing at Sosnogorsk gas processing plant

The Gazprom headquarters hosted today a working meeting between Alexey Miller, Chairman of the Company's Management Committee and Vagit Alekperov, President of LUKOIL.

The parties paid special attention to joint activities for arranging the processing of associated petroleum gas (APG) from the northern group of LUKOIL-Komi fields at the Sosnogorsk gas processing plant (GPP) of Gazprom. The process flow diagram for transmission, receiving and treatment of APG was noted to have been approved by now. Pre-construction and pre-development of essential gas transmission facilities are in progress.
Gazprom and Lukoil address associated gas processing at Sosnogorsk gas processing plant
Sosnogorsk gas processing plant

Gazprom and Serbia point out strategic nature of relationship - 15/12/2014


Gazprom and Serbia point out strategic nature of relationship


The Gazprom headquarters hosted today a working meeting between Alexey Miller, Chairman of the Company'sManagement Committee and Slavenko Terzic, Ambassador Extraordinary and Plenipotentiary of the Republic of Serbia to the Russian Federation.
The parties noted the strategic nature of their partnership in the energy sector and named, in particular, the cooperation in the gas supplyunderground gas storage, oil refining and electric power generating sectors.
Special focus was placed on ensuring reliable gas supplies to Serbia this winter. It was noted that productive interaction within the domestic UGS sector was a prerequisite for having a comfortable heating season in Serbia. Before this winter period, Gazprom fully loaded the Banatski Dvor UGS facility with the maximum working gas capacity of 450 million cubic meters. The gas storage guarantees reliable gas supplies from Russia not only to Serbia, but also to Hungary and Bosnia & Herzegovina.
Gazprom and Serbia point out strategic nature of relationship

Friday, 12 December 2014

Gazprom’s Unified System for Managing Labor and Industrial Safety passes international certification - 12/12/2014

Gazprom’s Unified System for Managing Labor and Industrial Safety passes international certification

The Gazprom Management Committee took notice of the information about the compliance of its Unified System for Managing Labor and Industrial Safety with the OHSAS 18001:2007 international standard.

The Unified System secures comprehensive activities aimed at establishing safe and healthy working conditions for the Company’s employees.

The conformance to OHSAS 18001:2007 means that Gazprom’s system managing labor and industrial safety at production, transmission and processing facilities fully complies with the international standards.

Drillsearch Energy Limited (ASX:DLS) (“Drillsearch”) provides the following business update - 12/12/2014

Drillsearch Energy Limited (ASX:DLS) (“Drillsearch”) provides the following business update

Wet Gas Business

Drillsearch is pleased to announce the second wet gas discovery made by its PEL 513 joint
venture with Santos Limited (Drillsearch 40%, Santos 60% and Operator).

The Yarowinnie South-1 well was drilled to a total depth of 3,142 metres as an exploration
well, southwest of the Varanus South-1 discovery announced last month. Drillsearch’s
preliminary interpretation of wireline logs has confirmed an aggregate best estimate of almost 15 metres of net gas pay over several intervals in the Patchawarra Formation totalling a gross Patchawarra interval of 410 metres. The well has been cased and suspended as a future producer.

Year-to-date, Drillsearch has drilled 20 exploration, appraisal and development wells1 as part of its FY2015 work program, with Yarowinnie South-1 the 15th successful well in the
campaign and the fifth new oil or wet gas discovery for the year.

In addition, the company notes the announcement made by Senex Energy Limited on 11
December 2014 regarding the successful production test of the Vanessa-1 wet gas discovery in PEL 182 (Senex 57% and Operator, Drillsearch 43%).

During the test, gas flowed to surface at an average rate of 5.0 million standard cubic feet
per day (mmscf/d) from the Epsilon and Toolachee formations on a 65% choke (42/64ths
inch). Condensate was also produced at a rate of 15 barrels per mmscf/d.

The joint venture plans to bring the well online and then consider further appraisal and
development opportunities.

Unconventional Business

In ATP 940 (Drillsearch 40% and Operator, QGC 60%), Drillsearch announces that eight of
nine stages of the hydraulic stimulation of Anakin-1 have been successfully completed. The
ATP 940 joint venture will now begin production testing, commencing with Charal-1 in late
December, with Anakin-1 to follow.

The fourth well of the current program, Amidala-1, was spudded on 20 November 2014 and
had reached 2,407 metres as of 11 December 2014. The well is expected to reach total
depth in late January 2015.

The company also advises that the ATP 940 joint venture has recently received confirmation
of the two-year extension of the permit from the Queensland Department of Natural
Resources and Mines, to November 2017 from November 2015. This extension provides
 1 Excludes the three Unconventional wells drilled in FY2015: Anakin-1, Padme-1 and Amidala-1.additional time to enable the joint venture to continue with its measured approach to the work program.

Market Conditions

Oil prices in the financial year to-date have experienced material decline, with considerable
ongoing volatility. While this decline has been partly offset by the relative weakening of the
Australian dollar against the US dollar, the decline in oil prices naturally impacts on
Drillsearch’s revenue.

Drillsearch remains in a strong financial position at current prices, with cash of approximately $170 million, high margin oil production3 and a $50 million working capital facility which remains undrawn.

Despite the company’s strong financial position, during the December quarter Drillsearch
took steps to mitigate the impact on the company of further oil price decline, which we have
recently seen, in the form of put options at US$70/bbl. These put options, combined with
hedging in place under Drillsearch’s undrawn working capital facility, result in the company setting a realised floor price of US$70/bbl (approximately 850,000 barrels) and US$90/bbl (approximately 450,000 barrels) for the financial year.

Drillsearch Managing Director Brad Lingo said: “The company’s strong cash position and
robust margins provide Drillsearch with a platform to continue investing in growth,
notwithstanding the volatile conditions. However, Drillsearch will scrutinise all capital
expenditure, both in company-operated assets and in conjunction with its joint venture
partners in non-company-operated assets, to ensure that its investment is prudent and
scaled to the rate of success.” 

Thursday, 11 December 2014

PETROBRAS ADOPTS REFLEX MARINE’S FROG-6 FOR SAFER PERSONNEL TRANSFER - 11/12/2014

PETROBRAS ADOPTS REFLEX MARINE’S FROG-6 FOR SAFER PERSONNEL TRANSFER 


Reflex Marine, a global leader in safe marine transfer solutions to the offshore, marine and renewables industries, has supplied two six-person FROGs to Brazil’s national operator Petrobras.

The sale follows Reflex Marine’s certification by Brazil’s Directoria de Portos e Costas (DPC) and will place Petrobras as leading the way in improving the safety of offshore operations in the region. 

The FROGs will come into service in North-East Brazil in early 2015. Petrobras personnel will be fully trained using the six person FROG-6 devices by Reflex Marine’s Brazilian partner Sparrows BSM in Macaé. Local operational support will also be provided, including the supply of spare parts as well as well as inspection and maintenance. 

Carol Richards, Reflex Marine’s sales manager for Brazil, said: “We believe that this sale is a significant step for Brazil’s offshore oil and gas industry. Petrobras will use the same system for the safe crane transfer of personnel as other operators working in deep and ultra-deep waters worldwide. Reflex Marine and our Brazilian partners SparrowsBSM are committed to supporting Petrobras in adoption of the safest personnel transfer device on the market.“

The FROG-6 has been developed to provide extensive protection from all the major risks of personnel transfer. Tests witnessed by the DPC confirmed that the product met all legal and safety requirements. The tests included:

Immersion to demonstrate that when a fully loaded unit is in water passengers heads will remain above the surface; secondly, that the unit will not lose its floating capability for a period of at least five minutes; and thirdly, if a unit is completely inverted, it will self-right.

A load test was conducted to demonstrate that no permanent deformations would occur as a result of the overloading.

A vertical impact test consisted of impacting a fully loaded unit into the ground at a speed of four ms-1 in order to demonstrate that no harm will be imparted to its occupants and that the unit will not undergo deformations that will prevent it being hoisted for five minutes after the impact. 

A side impact test consisted of impacting a fully loaded unit at a speed of two ms-1 into an object in order to demonstrate that no harm was imparted to its occupants and that the unit did not undergo deformations that prevented it being hoisted for five minutes after the impact.

An audit of the Quality Management System (QMS) was carried out according to the standard ISO 9001:2008.

Reflex Marine’s immaculate safety record is maintained with more than 800 units performing more than one million crew transfers annually in 54 countries. 

Statoil extending rig suspensions - 11/12/2014

Statoil extending rig suspensions

Due to overcapacity in the rig portfolio the suspension periods for COSL Pioneer, Scarabeo 5 and Songa Trym have been extended.
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The suspensions are also a result of the failed attempts to mature alternative tasks for the rigs.
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Statoil procurement head Jon Arnt Jacobsen.
“When the rig contracts were signed it was challenging to ensure sufficient rig capacity. Today the activity is facing lower margins, a generally high cost level and subsequent lower profitability. It is therefore more demanding to mature profitable drilling targets,” says Statoil procurement head Jon Arnt Jacobsen.
COSL PioneerScarabeo 5 and Songa Trym were initially suspended until the end of the year from 8 October, 5 October and 20 November, respectively. COSL Pioneer will be suspended for an additional seven and a half months. The suspension periods for Scarabeo 5 andSonga Trym will be extended by one and a half months and one month, respectively. The extension period for Songa Trym may be reduced, or avoided, if acceleration of activities is achieved.

“I would like to emphasise that the suspensions are not related to the rig deliveries. We are very pleased with the work they have done for us. These measures are necessary due to the overcapacity of rigs compared to the assignments we are prioritising. This situation is unfortunate, and we are doing what we can to minimise the extent of the suspensions,” Jacobsen says.

Gazprom and UniCredit sign agreement worth EUR 390 million - 11/12/2014


Gazprom and UniCredit sign agreement worth EUR 390 million

Andrey Kruglov and Gianfranco Bisagni, Head of Corporate and Investment Banking – Central & Eastern Europe at UniCredit Bank sign bilateral credit agreement worth EUR 390 million
Andrey Kruglov and Gianfranco Bisagni, Head of Corporate and Investment Banking
Central & Eastern Europe, UniCredit Bank
Gazprom and UniCredit Bank signed a bilateral credit agreement worth a total of EUR 390 million in Vienna yesterday.

The agreement is of great historical significance both for promoting the mutually beneficial relations between the two companies and for wider cooperation of Gazprom with financial communities of Italy and the entire Europe.




Gazprom's delegation was led by Andrey Kruglov, Head of the Department for Finance and Economics.

Minor gas discovery northeast of the Aasta Hansteen field in the Norwegian Sea – 6707/10-3 S - 11/12/2014

Minor gas discovery northeast of the Aasta Hansteen field in the Norwegian Sea – 6707/10-3 S

Centrica Resources Norge AS, operator of production licence 528 B, is about to complete drilling of wildcat well 6707/10-3 S. The well was drilled about 20 kilometres northeast of the Aasta Hansteen field in the Norwegian Sea.

The primary and secondary exploration targets for the well were proving petroleum in Upper Cretaceous reservoir rocks, the Kvitnos and Lysing formations, respectively. Well 6707/10-3 S encountered a total gas column of about 12 metres in the Kvitnos formation with good reservoir properties. The entire reservoir zone, including the water zone, has a gross thickness of about 200 metres.

Reservoir rocks were encountered in the secondary exploration target with a total of 25 metres thickness in the Lysing formation, which was tight and aquiferous. Preliminary calculations of the size of the discovery are between two and eight billion standard cubic metres (Sm3) of recoverable gas. The licensees will assess well results with regard to profitability.

The well was not formation tested, but extensive data acquisition and sampling were carried out. This is the first exploration well in production licence 528 B. The licence was awarded in the 21st licensing round, as an addition to production licence 528. 

Well 6707/10-3 S was drilled to a vertical depth of 4264 metres below the sea surface, and was terminated in the Lange formation in the Lower Cretaceous. Water depth is 1421 metres. The well will now be permanently plugged and abandoned. Well 6707/10-3 S was drilled by the West Navigator drill ship.

MagneGas Invited to United Nations Ebola Crisis Response Meeting - 11/12/2014

MagneGas Invited to United Nations Ebola Crisis Response Meeting

MagneGas Corporation ("MagneGas" or the "Company") (NASDAQ: MNGA), a technology company that counts among its inventions a patented process that converts liquid waste into a hydrogen-based fuel, announced today that it has been invited to participate at the United Nations Ebola Crisis Response high-level meetings being held on Thursday, December 11, 2014 at the United Nations headquarters in New York City.

The meetings are being held by the United Nations Global Compact, the United Nations Mission for Ebola Emergency Response ("UNMEER"), and the Ebola Private Sector Mobilization Group.  This assembly consists of a coalition of over 35 companies with major assets and operations in West Africa mobilizing business resources to support front-line Ebola humanitarian relief efforts while also advocating for a more concerted global response to the Ebola outbreak and recovery. 

The Company will be discussing the potential use of the MagneGas technology to treat medical waste and sewage related to the Ebola outbreak in West Africa.  MagneGas believes, based on past successful sterilization of highly contaminated liquid waste, that the high temperature of the Plasma Arc system will fully sterilize bio-contaminated human waste.  In addition, due to the extremely high flame temperature of the MagneGas® fuel, the Company believes that the use of its fuel for co-incineration with existing systems, will increase heat output and reduce emissions further sterilizing waste as an alternative treatment option. In addition, the Company also has available a trailer mounted Plasma Arc system that can be deployed quickly and operated on a local diesel generator. 

"The Company has been working for many years, both in Europe and the United States, testing the use of the MagneGas technology to sterilize waste with extremely high levels of bio-contaminants.  It has been demonstrated that the exposure of bio-contaminants to our 12,000F degree electric arc renders the waste fully sterilized without the need for any chemical additives or use of other methods.  We believe that this process will have a similar effect on Ebola contaminated medical waste. We are honored and humbled by the opportunity to participate in these extremely important meetings that will shape the future success of the Ebola outbreak containment.  Anything that we can do to help reduce the outbreak by limiting contaminant proliferation would be extremely important to the MagneGas family," stated MagneGas CEO Ermanno Santilli.

Statoil adds permits to New Zealand portfolio - 11/12/2014

Statoil adds permits to New Zealand portfolio 

Statoil has been awarded four new exploration permits offshore New Zealand, building on its existing position. This deepens and diversifies Statoil’s long-term portfolio.

Erling Vaagnes
Erling Vågnes, Statoil’s senior vice president for exploration in the Eastern hemisphere.
The permits are awarded by the New Zealand government through the 2014 Block Offer. Statoil participates in three blocks in the East Coast and Pegasus basins as a partner, and takes on operatorship for one new permit next to existing acreage in the Reinga basin.
“The East Coast acreage adds another high-impact opportunity to our long-term portfolio, while the expansion in the Reinga basin secures access to potential upsides from our existing position. This is in line with our exploration strategy of early access at scale and deepening existing positions,” says Erling Vågnes, Statoil’s senior vice president for exploration in the Eastern hemisphere.
  • Blocks 57083, 57085 and 57087 are awarded with Chevron as operator, both companies holding a 50% working interest. The permits are located in the East Coast and Pegasus basins, southeast off New Zealand’s North Island. The permits cover more than 25,000 square kilometres and sit in water depths between 800 and 3,000 metres. The initial phase of the project will consist of data collection.
  • Block 57057 is awarded to Statoil with a 100% working interest. It is located in the Reinga basin offshore Northland, adjacent to Statoil’s existing exploration acreage. The permit covers sits approximately 100 kilometres offshore and covers an area of 1,670 square kilometres in water depths of around 1,500 metres. Statoil has committed to acquire 200 line kilometres of 2D seismic data within the permit.
Statoil entered New Zealand through the 2013 Block Offer, with the award of petroleum exploration permit 55781 in the Reinga basin.

Berlin hosts 31st Meeting of EBC Presiding Committee - 11/12/2014

Berlin hosts 31st Meeting of EBC Presiding Committee

Berlin hosted today the 31st Meeting of the European Business Congress (EBC) Presiding Committee moderated by Alexey Miller, Chairman of the Gazprom Management Committee, President of the EBC.
Berlin hosts 31st Meeting of EBC Presiding Committee

The Presiding Committee Members heard the reports made by the Working Committees Chairpersons. It was pointed out that 15 projects were successfully completed with the support of the Congress, including energy efficiency, NGV and environmental projects.

At present, work is underway within six programs aimed, inter alia, at the LNG market development, education advancement and nature protection.

The Meeting participants also addressed the amendments to the Presiding Committee structure. In addition, the Meeting adopted the Congress budget for 2015 and approved the key topic of the 18th Annual General Meeting of the EBC: “European Energy Sector: Future Structure and Position in the Global Market”. The 18th EBC Annual General Meeting will take place on May 28–29, 2015 in Belgrade.

Gazprom and Comita address cooperation prospects - 11/12/2014



Gazprom and Comita address cooperation prospects

Gazprom and Comita address cooperation prospectsBerlin hosted today a working meeting between Alexey Miller, Chairman of the Gazprom Management Committee and Aljosa Ivancic, Vice President of Slovenian Comita.

The parties addressed the main areas and prospects for further cooperation between the companies. In particular, they paid attention to operating the process communications equipment of Comita at Gazprom's industrial facilities.
In addition, the meeting touched upon the possibility for Comita to render comprehensive engineering services within Gazprom's infrastructure projects, including the Power of Siberia gas pipeline construction.

Gazprom and Siemens look at crucial issues of cooperation - 11/12/2014



Gazprom and Siemens look at crucial issues of cooperation

Berlin hosted today a working meeting between Alexey Miller, Chairman of the Gazprom Management Committee and Joe Kaesar, President and Chief Executive Officer of Siemens.

Gazprom and Siemens look at crucial issues of cooperation
The parties addressed the key issues of the joint activities pointing to the long history of the partnership between the companies. In more than 20 years the parties have delivered a number of joint projects on deploying cutting-edge process solutions at Gazprom's facilities.

The companies cooperate efficiently in gas production and transmission, automation of process control systems, general-purpose and basic power generation facilities.

The focus of the meeting also fell on such relevant issues as maintenance and repair of Siemens-made equipment at Gazprom's facilities.

Gazprom and E.ON address bilateral cooperation - 11/12/2014

Gazprom and E.ON address bilateral cooperation

Berlin hosted today a working meeting between Alexey Miller, Chairman of the Gazprom Management Committee and Johannes Teyssen, Chairman and Chief Executive Officer of E.ON.
The meeting addressed the current issues of the cooperation in the gas industry, such as gas supply as well as joint production and transmission. Special attention was paid to operation of the Nord Stream gas transmission system. It was pointed out that in excess of 30 billion cubic meters of gas had been supplied via the gas pipeline starting this year showing a 50 per cent surplus versus the respective period of 2013, when the gas export via Nord Stream had been around 20 billion cubic meters.
The meeting participants stressed the significant role of the gas pipeline in diversifying the routes of energy supply to European consumers as well as in enhancing their security through mitigating transit risks.
Gazprom and E.ON address bilateral cooperation
Enlarged photo (JPG, 7 MB)

Friday, 5 December 2014

Cameron Awarded Multi-Year Contract For Hebron Development - 05/12/2014

Cameron Awarded Multi-Year Contract For Hebron Development


Cameron (NYSE: CAM) announced today that it has been awarded a multi-year contract by ExxonMobil Canada Properties for wellhead equipment and production trees for the Hebron project, a 52-well development located offshore Newfoundland.


Cameron will supply large-bore, high-pressure equipment including wellheads, production trees and risers. The contract also includes installation and commissioning services.
Cameron Chairman and Chief Executive Officer Jack Moore said, "Cameron's global experience and leadership working in hostile environments, including the Arctic, makes us an ideal partner to support the Hebron project over the full life of the field."

In conjunction with the contract, Cameron also will build a new state-of-the-art service center in St. John's, Newfoundland that will provide 24/7 support for its customers' operations.  

Cameron is a leading provider of flow equipment products, systems and services to worldwide oil, gas and process industries.

This document includes forward-looking statements regarding future orders of the Company made in reliance upon the safe harbor provisions of the Private Securities Litigation Reform Act of 1995.  The Company's actual results may differ materially from those described in forward-looking statements.  Such statements are based on current expectations of the Company's performance and are subject to a variety of factors, some of which are not under the control of the Company, which can affect the Company's results of operations, liquidity or financial condition.  Such factors may include the size and timing of orders; the Company's ability to successfully execute orders it has been awarded; the possibility of cancellations of orders.  In particular, current and projected oil and gas prices historically have generally directly affected customers' spending levels and their related purchases of the Company's products and services. 


Because the information herein is based solely on data currently available, it is subject to change as a result of changes in conditions over which the Company has no control or influence, and should not therefore be viewed as assurance regarding the Company's future performance.  Additionally, the Company is not obligated to make public indication of such changes unless required under applicable disclosure rules and regulations.

Tangiers Petroleum: From Morocco to Alaska for its next high-impact project - 05/12/2014

Tangiers Petroleum: From Morocco to Alaska for its next high-impact project

It may be time Tangiers Petroleum (LON:TPET) changed its name. For its next
major project it is swapping the warm waters off Morocco for the frozen wastes
of America's most northerly state.

An update this morning reveals it has made a successful bid for almost 87,000
net acres in the Alaska North Slope area-wide sale.

It will be partnered on Project Icewine with Burgundy Xploration, which was the
bid agent for the property, and will be carried on the first US$2mln spent on the
property.

A 20% deposit totalling US$520,000 has been paid to the Department of
Natural Resources Alaska, with the balance of around US$3mln, including first
year rental costs, due in the second quarter of next year.

Next year's budget is put at US$2.1mln, which comprises the purchase,
reprocessing and re-interpretation of existing 2D seismic as well as planning
activities and overheads. The target is a liquid-rich shale play.

Having an 87.5% interest in the property gives Tangiers significant wiggle room
to bring in a partner later in the exploration process.

The change of focus follows the failure of the high-impact TAO well, offshore
Morocco, to find oil or gas.

Managing director Dave Wall said: "Project Icewine is the first step towards
rebuilding the company.

"Icewine ticks three of our key boxes for a start-up project: funding flexibility,
ground floor entry and huge upside potential.

"In addition, the project is located in a prolific oil producing region, with good infrastructure and significant nearby activity by major industry players.

"The board is looking forward to working with our US partners in order to unlock the substantial value we believe
resides within the project." 

Drilling permit for well 26/10-1 in production licence 674 BS - 05/12/2014

Drilling permit for well 26/10-1 in production licence 674 BS

The Norwegian Petroleum Directorate has granted Lundin Norway AS a drilling permit for well 26/10-1, cf. Section 8 of the Resource Management Regulations.
Well 26/10-1 will be drilled from the Island Innovator drilling facility at position 59°00’01.86’’ north and 03°04’14.69’’ east in the central part of the North Sea.
The drilling programme for well 26/10-1 relates to drilling of a wildcat well in production licence 674 BS. Lundin is the operator with an ownership interest of 35 per cent. The other licensees are Petrolia Norway AS with 35 per cent and E.ON E&P Norway AS with 30 per cent.
The area in this licence consists of the southwestern part of block 26/10 and northwestern part of block 17/1. The well will be drilled about 32.8 kilometres northeast of the 16/2-6 discovery well on the Johan Sverdrup field and about 112 kilometres from Stavanger.
Production licence 674 BS was carved out of PL 674, which was awarded on 8 February 2013 (APA 2012). This is the first well to be drilled within the licence area.
The permit is contingent upon the operator securing all other permits and consents required by other authorities prior to commencing drilling activities.

First oil from Gulf of Mexico Jack/St. Malo project - 05/12/2014

First oil from Gulf of Mexico Jack/St. Malo project 

Oil and natural gas production started today from the partner-operated Jack/St. Malo project in the US Gulf of Mexico. Statoil’s expected production from the combined fields is 23,000 barrels of oil equivalent per day at peak production.

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The Jack/St. Malo platform in the US Gulf of Mexico.
The Jack/St. Malo project in the US Gulf of Mexico is the first of five major Statoil US offshore fields that will begin production over the next few years.
The addition of production from Jack/St. Malo is an important building block of Statoil’s plan to have more than a four-fold increase in offshore production – to over 100,000 barrels of oil equivalent per day – from the US Gulf of Mexico by 2020. This would make Statoil one of the largest producers in the Gulf of Mexico.
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Jason Nye, Statoil US offshore senior vice president.
“We are very pleased to see production begin of these high-value barrels at Jack/St. Malo,” said Statoil US offshore senior vice president Jason Nye. “This large, complex project was delivered on time and on budget—which is world-class execution.”
The Jack and St. Malo fields are located within 25 miles (40 km) of each other in approximately 7,000 feet (2,100 m) of water in the Walker Ridge area, approximately 280 miles (450 km) south of New Orleans, Louisiana.
The fields were co-developed with subsea completions flowing back to a single host, semi-submersible floating production unit located between the fields, with a production capacity of 170,000 barrels of oil and 42.5 million cubic feet of natural gas per day, and with the capability for future expansion.
Crude oil will be transported 137 miles to the Green Canyon 19 Platform via the Jack/St. Malo Oil Export Pipeline, and then onto refineries along the Gulf Coast. The pipeline is the first large-diameter, ultra-deepwater pipeline in the Walker Ridge area.
Total production from the two fields is expected to eventually ramp up to 94,000 barrels of oil equivalent per day.  Statoil’s expected production from the combined fields is about 23,000 barrels of oil/day at peak production. 
What’s important to acknowledge is this field is Statoil’s entry into the emerging Paleogene Wilcox trend,” Nye adds. “This trend is characterised by large in-place volumes and lower recovery rates, and industry knowledge about production in this trend is in its very early days. However, we believe that we can add significant production volume in the years ahead through the application of technology and increased oil recovery expertise.”
The Paleogene trend is emerging as an area of increasing importance and value in the Gulf of Mexico, but it will require better equipment and technology to optimise recovery than the industry currently has available to address massive reservoir pressure in the ultra-deep waters.
The Jack and St. Malo fields were discovered in 2004 and 2003, respectively, and are estimated to contain combined total recoverable resources in excess of 500 million oil equivalent barrels.
The project was sanctioned in 2010 and has delivered a number of noteworthy accomplishments. These include:
  • Utilising the industry’s largest seafloor boost system
  • The largest capacity high-pressure deepwater subsea pumps
  • The largest semi-submersible host by displacement in the Gulf of Mexico 
Statoil technical experts were seconded to the Jack/St. Malo project team and contributed ideas and expertise from Statoil’s experience using subsea pumps on the Norwegian continental shelf.
Statoil has a working interest of 25% in the Jack field, with co-owners Chevron (50%) and Maersk Oil (25%).  Statoil also holds a 21.5% working interest in the St. Malo field, with co-owners Chevron (51%), Petrobras (25%), ExxonMobil (1.25%) and Eni (1.25%). It also holds a 27.9% ownership interest in the host facility, with co-owners Chevron (40.6%), Petrobras (15%), ExxonMobil (10.75%), Maersk (5%), and Eni (0.75%).
Along with Jack/St. Malo, Statoil has a very attractive deepwater development portfolio in the Gulf of Mexico with ownership in many of the largest fields coming on line over the next several years:  Big Foot (27% ownership), Julia (50% ownership), Stampede (25% ownership), and Vito (30% ownership)
When the Exxon Mobil-operated Julia project begins production in 2016, its production will be a tie-in to the Jack/St. Malo platform. Statoil’s oil production will be transported via the Jack/St. Malo Oil Export Pipeline.  ​​​

Dejour Moves Drill Rig to Woodrush - 05/12/2014

Dejour Moves Drill Rig to Woodrush
Company Targets Halfway Oil and Gething Gas Pools 

Dejour Energy Inc. (NYSE MKT: DEJ / TSX: DEJ) (“Dejour” or the “Company”), an independent oil and natural gas exploration and production company operating in North America's Piceance Basin and Peace River Arch regions, updates current development progress underway at the Woodrush/Hunter Project (“Woodrush”) in NE B.C.

The Company has contracted Ensign Drilling Partnership to drill two wells at its Woodrush production complex. Rig arrival is scheduled for Friday December 5th with completion and tie in to existing infrastructure prior to year end. These wells will target both the Halfway oil and Gething gas pools known to be productive at Woodrush at depths between 3500’- 4000’ with the dual objectives of expanding both current field production and Company YE 2014 reserve values. A third well is projected for H1-2015.
As operator of the Woodrush/ Hunter Project, Dejour will own a 99% working interest in the two new wells. The Project currently encompasses 23,000 gross (17,000 net) acres with 3 oil wells and 6 natural gas wells operating at Woodrush and 2 additional gas wells operating in the adjacent Hunter project in Northern B.C.

"We anticipate that the expansion of the Woodrush Project, to include the Gething gas pool known to blanket the underlying Halfway, could become an important revenue driver beginning with this test. With our expanded acreage position there is room for multiple wells into this prolific hydrocarbon zone. Beyond this current initiative, Dejour is actively engaged in building a larger Ft. St. John production unit that both leverages its infrastructure and efficiently utilizes the excess pipeline capacity now in place," states Robert L. Hodgkinson, Chairman & CEO. 

Sergey Prozorov elected as Member of Gazprom Management Committee - 05/12/2014

Sergey Prozorov elected as Member of Gazprom Management Committee

The Gazprom Board of Directors held a meeting in absentia.
The Board elected Sergey Prozorov as a Member of the Gazprom Management Committee for a five-year term.
Simultaneously, the Board of Directors terminated the authority of Yaroslav Golkoas a Management Committee Member.

Gazprom and CNPC hold meeting of Joint Coordinating Committee - 05/12/2014

Gazprom and CNPC hold meeting of Joint Coordinating Committee

Shanghai hosted today another meeting of the Joint Coordinating Committee (JCC) between Gazprom and China National Petroleum Corporation (CNPC).
The meeting was chaired by the JCC Co-Chairmen – Vitaly Markelov, Deputy Chairman of the Gazprom Management Committee and Wang Dongjin, Vice President of CNPC.
The parties noted the fast progress with the cooperation between the two companies in 2014 in the context of signing the Purchase and Sale Agreement by Gazprom and CNPC, stipulating natural gas supplies from Russia to China via the eastern route as well as the Framework Agreement on arranging gas supplies from Russia to China via the western route.
The meeting considered a wide spectrum of issues of the cooperation in the gas sector, in particular, the status of the project for gas supply from Russia to China via the eastern route, highlighting the necessity to promote the cooperation in underground gas storagein China with a view to secure reliable gas supplies.
The parties appreciated the experience gained in the sci-tech cooperation and resolved to continue the all-out interaction within the next triennial program.
The meeting participants agreed to consistently expand the cooperation and noticed the considerable potential of such areas as gas-based power generation, natural gas as a vehicle fuel, utilization of space communications at gas facilities, procurement of equipment and services for joint projects.
Gazprom's delegation visited CNPC process facilities in Shanghai, including the local Dispatch and Control Center.
“The tenth meeting of the JCC demonstrated the commitment of both companies to the comprehensive development of the partnership and mutual aspiration to its sustainable enhancement. Today specific tasks were given to arrange the relevant activities in all sectors,” said Vitaly Markelov summing up the meeting.

Gazprom working out General Gas Supply Scheme of Kyrgyzstan - 05/12/2014

Gazprom working out General Gas Supply Scheme of Kyrgyzstan

The Gazprom headquarters hosted today a working meeting between Alexey Miller, Chairman of the Company's Management Committee and Djoomart Otorbaev, Prime Minister of the Kyrgyz Republic.
Alexey Miller and Djoomart Otorbaev
Alexey Miller and Djoomart Otorbaev
It was pointed out that over a short period of time since Gazprom Kyrgyzstan had joined Gazprom Group, significant progress was achieved in the cooperation between the parties. In particular, Gazprom started supplying natural gas to the Republic as well as carried out a whole range of maintenance & repair activities to prepare the local gas networks. It secures uninterrupted gas supply to consumers, inter alia, during the peak loads.
The meeting considered the potential of the cooperation in a wide spectrum of business areas. It was stressed that already in 2015 within the investment program approved by Gazprom on acquiring KyrgyzgazProm the Company planned to heavily invest into the Kyrgyz gas industry. Among other things, it will create more enabling conditions for setting tariffs for consumers.
Djoomart Otorbaev at working meeting with Alexey Miller
Djoomart Otorbaev
The parties also discussed the stepwise exploration program for the Kugart and Eastern Mailu-Suu IV blocks. They also addressed the outlooks for Gazprom's participation in advancing the petroleum product market and the power generation industry of the Kyrgyz Republic.
Another item on the agenda was the development of gas transmission and distribution infrastructure of Kyrgyzstan. It was pointed out that the relevant facilities in the Republic were well rundown. In this regard, Gazprom is working out the General Gas Supply and Gasification Scheme of Kyrgyzstan until 2030. The document envisages large-scale reconstruction and upgrade of gas transmission, underground gas storage and distribution facilities. The meeting participants placed a special emphasis on Gazprom's contribution to establishing the autonomous gasification of Kyrgyzstan's southern regions as well as preparing the pre-investment research for the North – South gas trunkline.
It was noted that the integration of Gazprom Kyrgyzstan into Gazprom Group would increase the efficiency of the company's business activities as well as enhance the social security of its employees.

Thursday, 4 December 2014

Drillsearch - November Drilling Report - 05/12/2014

Drillsearch - November Drilling Report

• Six successful wells delivered during November including two wet gas
discoveries
• Oil Business:
- Four new development wells cased and suspended in PEL 91
• Wet Gas Business:
- Varanus South-1 discovery in PEL 513 in the Western Cooper Wet Gas
project area, the first by the new joint venture with Santos
- Maupertuis-1 cased and suspended on a sole risk basis by Drillsearch as
a discovery in PEL 106
- Vanessa-1 production test begins in PEL 182
• Unconventional Business:
- Fourth well in the ATP 940 drilling campaign spudded at Amidala-1
- Hydraulic stimulation campaign restarts at Anakin-1

Oil Business

Western Flank Oil Fairway - PELs 91 and 182 The Bauer development drilling campaign in
PEL 91 (Drillsearch 60% and Beach 40% and Operator) continued with a further four wells cased and suspended during November, following the drilling of Bauer-14 in October. Bauer-15 was drilled in the northerly section of the field and was cased and suspended as a future producer.

Bauer-16, -17, -18, and -19 are deviated wells from a single pad location in the central
part of the Bauer field. Given the close proximity of these wells a pad drilling approach was implemented eliminating the need for rig re-mobilisation. A ‘sideways walk’ of the rig achieves savings in terms of footprint, drilling time and costs.

By 1 December, Bauer-16, -17 and -19 had all been cased and suspended as future
producers, while the last well to be completed, Bauer-18, is due to reach total depth in the coming days. All of these development wells will be connected into the Bauer production facility in due course.

Following Bauer-18, the next development well to be drilled will be Hanson-2 which is expected to spud in mid-January 2015.

MagneGas to Hold 2nd Annual In-Depth Demonstration Day - 04/12/2014

MagneGas to Hold 2nd Annual In-Depth Demonstration Day

TAMPA, Fla., Dec. 4, 2014 /PRNewswire/ -- MagneGas Corporation ("MagneGas" or the "Company") (NASDAQ: MNGA), a technology company that counts among its inventions a patented process that converts liquid waste into a hydrogen-based fuel, announced today that the Company is holding its 2nd Annual Demonstration Day on Thursday February 26th in Tampa.
2014 has been a year of significant change and improvement for MagneGas:
  • Launched MagneGas 2 from a renewable waste liquid;
  • Created the new generation of Venturi recycling units;
  • Built and shipped 100KW MagneGas unit to Central Asia;
  • Received confirmation from EPA that manure processed through MagneGas system achieves "Class A" sludge disposal levels;
  • Signed Joint Venture agreements for pursuing Co-Combustion of MagneGas to reduce hydrocarbon emissions for Coal energy facilities;
  • Signed agreements with partners in Agriculture and Medical Waste disposal to pursue those markets for use of MagneGas systems;
  • Obtained independent verification of MagneGas 2 cutting 38% faster than acetylene;
  • Demonstrated MagneGas 2 with favorable potential customer feedback at FabTech;
  • Launched numerous provision patents or final patents to protect designs, applications and gas;
  • Purchased ESSI gas distributor with $2 million estimated 2015 revenue.
"We are proud to invite customers and investors to our 2nd annual open book event where we will tour our new headquarters and new ESSI gas distribution company," commented Ermanno Santilli, CEO of MagneGas. "In addition, we are looking forward to updating attendees on progress we have made in many areas of strategic, technical and commercial focus."
The MagneGas Demonstration Day Starts at 9:30 am on Thursday February 26th and finishes with a lunch at our Corporate Headquarters.
Please confirm your attendance via RSVP by calling (727) 934-3448or email us at Ericalegend@magnegas.com.

Wednesday, 3 December 2014

New gas pipeline towards Turkey - Gazprom - 03/12/2014

New gas pipeline towards Turkey

Yesterday Alexey Miller, Chairman of the Gazprom Management Committee and Mehmet Konuk, Chairman of the Board of Directors of Botas Petroleum Pipeline Corporation signed in Ankara a Memorandum of Understanding on constructing an offshore gas pipeline across the Black Sea towards Turkey.
Gazprom and Botas sign Memorandum of Understanding on constructing offshore gas pipeline across Black Sea towards Turkey
Alexey Miller and Mehmet Konuk
The Memorandum was signed in the presence of Vladimir Putin, President of the Russian Federation and Recep Erdogan, President of the Republic of Turkey. The new gas pipeline will have a capacity of 63 billion cubic meters, with 14 billion cubic meters slated for Turkish consumers (identical amount is being delivered via the Balkan Corridor) and nearly 50 billion cubic meters conveyed to the border between Turkey and Greece, where a delivery point will be arranged.
The Russkaya compressor station being under construction in the Krasnodar Territory will serve as the pipeline starting point.