Page 9 - EurOil Week 30

EurOil
NEWS IN BRIEF
EurOil
UPSTREAM
Equinor: Small oil discovery at the Utsira High
Equinor and partners Lundin and Spirit Energy have made a small oil discovery in production licence 167 at the Utsira High in the North Sea.
e Lille Prinsen Outer Wedge well is located about 1 km west of Lille Prinsen Main, an oil discovery made in the summer of 2018. Lille Prinsen Outer Wedge is located 200 km west of Stavanger and 5 kilometres north-east of the Ivar Aasen eld.
e discovery in the main reservoir is cur- rently estimated to contain between 5mn and 25mn barrels of oil in-place. It has not yet been concluded if the discovered oil is commercial.
Evaluation of other segments in Lille Prinsen, and former discoveries in shallower formations, will determine the need for further appraisal of Lille Prinsen.
A small-size oil discovery was recently made in the Kla well in PL 502 about 1 km west of the Johan Sverdrup oil eld in the central part of the North Sea.
e discovery was made in fractured base- ment rock, and it is currently not possible to determine whether the oil is recoverable. Pend- ing new information and interpretation of acquired data the preliminary classi cation is that the Kla well is dry..
Equinor, July 26 2019
Soliton Resources
announces UK Central North
Sea farm-out
Soliton Resources Limited, a privately held oil and gas exploration company, has announced the farm-out of UK Central North Sea Licence P2390 (Blocks 23/26e and 30/1d) to Equinor UK Ltd. Licence P2390 contains the Isolde prospect, a shallow, low risk and potentially sizeable explo- ration target that has historically been over- looked, partially as a result of seismic imaging limitations on legacy 3-D data.
Equinor will acquire an 85% working inter- est in Licence P2390 and assume operatorship to undertake an initial work programme to improve the quality of existing 3-D seismic data. Subsequently, Equinor can elect to drill an explo- ration well on the Isolde prospect. Equinor will refund licence costs incurred to date by Soliton, pay a consideration to re ect inter alia the option to elect to drill and will carry all future costs associated with Soliton’s retained 15% inter- est, including exploration drilling if elected. In the event of exploration success, the carry will
continue through all further activities, including appraisal drilling, until Equinor con rms the presence of a feasible investment project, ready to progress into detailed development evalua- tion and planning. Regulatory approvals for the transaction have already been received.
Soliton Resources’ founder and managing director Graham Goffey commented: “I am delighted to announce that Equinor are joining Soliton to progress the exploration of the Isolde prospect. e high level of industry interest in what proved to be a particularly competitive farm-out process is a clear indication of the mer- its of the Isolde prospect and I am very pleased that Soliton is to be joined by an operator of Equinor’s scale, capability and ambition.
Soliton’s application for the Isolde prospect in the UK’s 30th licensing round was facilitated by the Oil and Gas Authority’s exible “Innovate” licence structure and its data access initiatives, which have lowered the barriers to entry for newly established companies such as Soliton. Continued North Sea exploration can help lessen the UK’s dependence on imported oil and gas through the energy transition and I am happy that Soliton can be part of this process.”
Soliton was advised by Holt Energy Advisors Limited.
Soliton, July 26 2019
Neptune Energy agrees to
acquire interests in German
oil and gas fields
Neptune Energy today announced it has agreed to acquire interests in certain oil and gas elds in Emsland and the Grafscha Bentheim region in Germany from Wintershall.
e agreement will increase Neptune’s exist- ing interest in the Bramberge, Meppen and Annaveen oilfields, located in the Emsland region, and in various gas elds in the Grafscha Bentheim region, adding approximately 6,001 barrels of oil equivalent (boe) of daily net pro- duction to Neptune’s production in Germany – an increase of around 5%.
Neptune is already a joint venture partner in the assets and operates the Bramberge oil eld and the Grafscha Bentheim gas elds.
Andreas Scheck, Managing Director of Nep- tune Energy in Germany, said: “Increasing our interest in these elds is strategically important for Neptune, enhancing our production and demonstrating our commitment to grow our footprint in key producing regions in Germany. We have been an operator or partner in these elds for many years and are well positioned to leverage our experience in this region. I rmly believe in the potential of oil and gas production in Emsland and in the Grafscha Bentheim over
the coming decades – a very traditional E&P region in Germany, and one with a strong, pos- itive future.”
e transaction is subject to regulatory and partner approvals, with completion expected in the third quarter of 2019.
This announcement builds on Neptune’s commitment to developing additional projects in north-west Germany. Together with its part- ner, the company plans to drill a new gas well, Adorf Z15, in the second half of this year. e well pad in the municipality of Hoogstede has already been constructed.
Neptune Energy, July 29 2019
MIDSTREAM
First cargo of US LNG under
long-term agreement
between PGNiG and
Cheniere arrives in Poland
e rst cargo of lique ed natural gas under the long-term contract between PGNiG and US LNG provider Cheniere Energy arrived today at the President Lech Kaczynski LNG Terminal in Swinoujscie. e long-term contract, which was signed in November of 2018, will total approx- imately 39 bcm of natural gas over the 24-year period of the agreement.
e o cial reception ceremony of the rst delivery at the LNG terminal in Swinoujscie included representatives of the government of the Republic of Poland, local authorities, as well as executives from PGNiG and Cheniere Energy.
“Two years ago, in this place, together with our partners from Cheniere we greeted the rst ever delivery of American LNG to Poland and to this part of Europe. e cargo, purchased as part of a spot transaction, came from Cheniere. Today we are also meeting with our American partners and with today’s delivery we are launch- ing the rst long-term contract for the purchase of LNG from the USA,” said Piotr Wozniak, President of PGNiG Management Board. “Our portfolio of contracts with US suppliers covers over 9 billion cubic metres of natural gas a er regasi cation annually – that is more than we import from Russia. Such a volume strengthens Poland’s energy security, but also gives us the opportunity to actively participate in LNG trad- ing on the global market,” he added.
Oak Spirit – the LNG carrier that arrived at the terminal in Swinoujscie – provided about 165,000 cubic metres of LNG, which a er regasi- cation equals about 95mn cubic metres of natu- ral gas. It was the 65th delivery of LNG to Poland since the launch of the LNG terminal.
Week 30 01•August•2019
w w w . N E W S B A S E . c o m
P9