Page 13 - Euroil Week 34 2019

EurOil PROJECTS & COMPANIES EurOil
MOL-led consortium strikes oil in Pakistan
PAKISTAN
MOL has been working at the site for two decades.
A consortium led by MOL struck oil in the TAL block in Pakistan near the Afghan border at the Makori-Deep-2 well, local media reported on August 26. e news was made public by Paki- stan Oil elds Limited (POL), which has a 25% interest. ere are three other companies in the consortium.
According to the preliminary tests, the well could produce 1,844 barrels of oil and 18.2mn cubic feet of gas daily. Commercial production from the well could begin in December.
e TAL block accounts for 20% of Pakistan’s oil production amounting to 17,000bpd. The eld has a 55% success ratio of discovery com- pared to 33% in other areas in Pakistan.
MOL has been an operator in the TAL-block since 1999, with an 8.42% share of the produc- tion. e rst successful drilling took place in 2002, followed by eight more.
MOL’s Pakistani subsidiary has stakes in four blocks in the country. Analysts say that the TAL
block is one of the most successful investments of the oil company’s upstream division.
Since 1999, some 35mn barrels of oil equiv- alent (boe) of reserves has been added to the MOL portfolio through successful exploration drillings within three di erent blocks. In the TAL block exploration activity is ongoing with a high quality 3D seismic survey, in an e ort to mature various leads.
MOL has operations in over 30 countries and employs 26,000 people worldwide. e compa- ny’s proven reserves are 326mn boe, which it plans to raise to 500mn, chairman-CEO Zsolt Hernadi said at the April AGM. e company’s focus will remain on countries where it has estab- lished its presence, including Russia, Pakistan, the North Sea and Oman.
MOL is on track to reach or beat its full- year guidance for clean Ebidta of $2.3bn and its guidance for investments is unchanged at $1.9bn-2.1bn. ™
Equinor gets permit for Norwegian shelf well
e Norwegian Petroleum Directorate (NPD) has granted Equinor Energy AS a drilling permit for well 32/4-2, cf. Section 15 of the Resource Management Regulations.
Well 32/4-2 will be drilled from the West Hercules drilling facility in position 60°30’37.36”N and 4°9’18.03”E.
e drilling programme for the well relates to the drilling of wildcat well 32/4-2 in production licence 921. Equinor Energy AS
is the operator with an ownership interest of 50%. e other licensees are Petoro AS (20%), DNO Norge AS (15%) and Lundin Norge AS (15%).
e area in this licence consists of part of block 32/4 and part of block 32/7. e well will be drilled about 28 km southeast of the Troll eld.
Production licence 921 was awarded on 2 March 2018 in APA 2017 on the Norwegian shelf. is is the rst well to be drilled in the licence.
e permit is contingent on the operator securing all other permits and consents required by other authorities prior to commencing the drilling activity.
NPD, August 22 2019
NEWS IN BRIEF
PGNiG gets approval for Shrek well
Poland’s PGNiG has secured the nal permit required to drill a well at the Shrek prospect on production licence 838 in the Norwegian Sea.
e company got the clearance from Noray’s Petroleum Safety Authority (PSA) to go ahead, having already gained a permit from the Norwegian Petroleum Directorate (NPD) earlier this month.
e Shrek oil prospect lies about 9 km north of the Aker BP-operated Skarv eld
in 359 metres of water. PGNiG’s wildcat will target Jurassic sandstones in the Viking, Fangst and Baat groups. It should take 49 days to complete in the event of the discovery. It will be drilled by Od ell Drilling’s semi- submersible rig Deepsea Nordkapp.
PGNiG operates the licence with a 40% stake, with partners Aker BP and Lime Petroleum each having 30%.
August 26 2019
UK opposition calls for fracking ban
Opposition politicians in the UK have called on the government to impose a ban on the use of hydraulic fracturing, following a series
of record tremors detected at Cuadrilla Resources’ site in northern England.
Labour MPs Rebecca Long Bailey MP and Danielle Rowley both signed a letter to the UK’s Department for Business, Energy and Industrial Strategy (Beis) demanding that the ban be put into force.
Over the last weekend a 2.9 magnitude seismic event was recorded at Caudrilla’s Preston New Road site, where hydraulic fracturing has been underway since last October.
“ is is larger than the 2.3 magnitude earthquake recorded in 2011, a er which fracking operations were suspended in the UK for seven years,” the letter published on social media said. “A government report from 2015 concluded that fracking increases air pollution, with substantially higher impacts at the local level where activities are clustered. Fracking also generates large amounts of wastewater, which poses contamination
risks to local ecosystems from spills and mismanagement.”
August 27 2019
PGNiG resells US LNG cargo
Poland’s PGNiG is preparing to ship an LNG cargo from the US to Ukraine, the company said on August 29.
e batch is set to arrive at an LNG import terminal in Swinoujscie in early November,
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