Bahamas Petroleum Act Moves a Step Closer
Bahamas Petroleum Co. (BPC) says it has completed studies ahead of a first planned drilling campaign offshore the Bahamas.
In December, a new Petroleum Act and associated regulations concerning oil exploration was submitted to the Bahamian parliament’s House of Assembly. A second reading is due during the coming weeks, followed by a consultation phase and third reading and subsequent passage via the senate into law.
BPC says it remains committed to starting drilling activities for its first exploration well as soon as possible. In anticipation of the new Petroleum Act becoming law, the company is discussing with the government what constitutes a safe and responsible planning period for a well and the subsequent commencement of operations.
Angola Bets on Deepwater Assets
Angola, the second largest oil producer in Africa, is heavily dependent on the oil sector, making it vulnerable to oil price fluctuations. Additionally, with offshore drilling costs Angola being very high, Douglas Westwood forecasts a resultant drop in deepwater completions in Angola in 2016.
Despite this set-back, Angola’s deep and ultra-deepwater projects are key to driving offshore production during a period of reduced spending and retrenchment, according to the analysts.
“We do not expect to see projects that are past the final investment decision being canceled, and many projects have been under construction for a number of years and will start up in the coming three years.
Drilling Starts at Gemini Offshore Norway
The semisubmersible Island Innovator has spudded a well on the Gemini prospect in the central Norwegian North Sea for operator Lundin Norway.
Well 16/1-24 in PL338C, 10 km (6.2 mi) southwest of the Edvard Grieg field, will test the reservoir properties and hydrocarbon potential of lower Paleocene sandstones of the Ty formation.
Lundin assesses prospective resources at 93 MMboe.
Drilling could last 40 days, with a planned TD of 2,192 m (7,191 ft) below mean sea level.
Meantime, Statoil has permission from the Norwegian Petroleum Directorate to drill an exploration well 6 km (3.7 mi) northwest of the Aasta Hansteen field in the Norwegian Sea.
The semisubmersible Transocean Spitsbergen will drill well 6706/12-2 in production license 218. This will be the fifth well on the concession since it was awarded in February 1996.
Indonesia Sanctions Lengo Gas Project
Indonesia’s government has approved KrisEnergy’s development plan for the Lengo gas field in the Bulu production sharing contract (PSC) offshore East Java.
The operator can now pursue formal negotiations for gas sales agreements with potential buyers.
Bulu extends over 697 sq km (269 sq mi) in three separate areas – Bulu A, Bulu B, and Bulu C – in the East Java basin in water depths of 50-60 m (164-197 ft). Lengo, in the Bulu A area, will be produced via four development wells and an unmanned wellhead platform, with a 20-in., 65-km (40-mi) subsea pipeline transporting the gas directly to shore.
Kupe Offshore New Zealand Output Up
Early testing results from the Kupe gas and oil field 30 km (18.6 mi) south of the Taranaki coast look promising, according to partner New Zealand Oil & Gas (NZOG).
Kupe operator Origin Energy conducted tests in December and January to compile information for an updated field development plan. It commissioned measurements of fluid contacts and additional perforations below existing perforations in two wells in order to enhance production and reservoir recovery.
The operation was logistically complex but came through on time and under budget, NZOG says.