Page 15 - EurOil Week 15 2021

EurOil NEWS IN BRIEF EurOil

“Artificial intelligence can help us extension option for offshore drilling acquisition of marine data.
make better decisions about expected gas contractor Odfjell Drilling’s Deepsea The goal of the commercial
and oil volumes in the early stages of the Atlantic drilling rig, with work set to begin partnership agreement between the two
value chain,” says Hugo Dijkgraaf, Chief after the completion of the current scope companies is to share knowledge and
Technology Officer at Wintershall Dea. estimated to be in Q3 2021. resources to unlock new efficiencies for
“Digital transformation at Wintershall Bassoe Offshore estimated the duration acquiring marine data using multibeam
Dea is about enhancing competitiveness of the latest one-well contract to be 45 echosounders, subsea gliders and ocean
and reducing risk. The roll-out of the days, at a dayrate of around $280,000. monitoring instruments.
Exploration Advisory Tool does exactly Opened in March 2021 as a sister
that, by enabling better and faster decision company to Nicola Engineering, a survey
making. Importantly, it will free up our Lundin warns of $162mn hit company operating since the seventies,
experienced team to spend more time on Nicola Offshore will bring technical
the tasks where they add most value.” to Q1 earnings expertise on the more specialist aspects of
Wintershall Dea says its geoscientists marine data acquisition such as object and
worked side-by-side with IBM researchers Lundin Energy will publish its financial unexploded ordinance (UXO) search to the
and data scientists in an IBM Garage that report for the first quarter 2021 on April partnership.
used design thinking to drive innovation. 29 2021. For the first quarter 2021, Lundin Cyprus Subsea Consulting and Services
Stefan Mueck, CTO Cognitive Energy will expense pre-tax exploration (C.S.C.S.) will contribute its expertise in
Transformation, IBM says: “The IBM costs of approximately $81mn and subsea glider surveys and oceanographic
Garage approach was a key success recognise a net foreign exchange loss of sensors for marine monitoring, as well as
factor for this innovation project. It is a approximately $81mn. its experience in automating aspects of
transformation accelerator that brought It is the company’s policy to capitalise marine environmental surveying.
together an empowered, agile and multi- costs associated with its exploration Daniel Esser, managing director at
disciplinary team. And it kept the focus on activities and if it is determined that Nicola Offshore, said: “The partnership
end users’ needs while building a solution a commercial discovery has not been helps to extend the reach of both
based on leading edge AI technology.” achieved, the associated exploration costs companies, opening more opportunities to
According to Wintershall Dea, the tool are charged to the income statement. For support clients in Northern and Southern
was successfully piloted in 2020 and will the first quarter of 2021, Lundin Energy Europe.
now be rolled out across Wintershall Dea’s will incur a pre-tax charge to the income “While the commercial potential is
global exploration teams during 2021. statement of $81mn relating to exploration exciting, we’re also keen to extend our
costs. These exploration costs will be offset service platform with glider capabilities
by a tax credit of approximately $63mn. and expertise, and be part of developing
Equinor cleared to drill two The exploration costs are mainly related to new methodologies and processes together
the Bask exploration well in PL533B and
with C.S.C.S. that will enable us to expedite
wildcats relinquished licences. and secure the precision of the data we
acquire on behalf of clients”.
Lundin Energy will recognise a net
Norway’s Equinor has received approvals foreign exchange loss of approximately Daniel Hayes, Cyprus Subsea’s
to drill two offshore wells in the production $81mn for the first quarter of 2021. The managing director, said: “Nicola Offshore
licence 090 in the North Sea, offshore Norway. Norwegian Krone was stable against the has demonstrated a unique focus on
The Norwegian Petroleum Directorate US dollar and the Euro weakened against delivering high quality marine data for
(NPD), which has granted the regulatory the US dollar by approximately 4% during demanding ad-hoc campaigns, which we
approvals for the drilling operations, said the first quarter of 2021. The foreign feel strongly complements our existing
the Monday that Equinor would drill wells exchange loss is largely non-cash and services and technology portfolio”.
35/11-25 S and 35/11-25 A, using the mainly relates to the revaluation of loan
Deepsea Atlantic semi-submersible drilling balances at the prevailing exchange rates at
rig. the balance sheet date.
“The drilling program for wells 35/11-
25 S and 35/11-25 A relates to the drilling LUNDIN ENERGY (SWEDEN)
of wildcat wells in production licence 090,”
the NPD said. Nicola Offshore and Cyprus
Equinor is the operator of the license
in which the wells will be drilled, with Subsea sign partnership
an ownership interest of 45%. The other
partners are licensees are Vår Energi AS deal
(25%), Neptune Energy Norge AS (15%)
and Idemitsu Petroleum Norge AS (15%). Offshore hydrographic survey specialist
The wells will be drilled about 10 km west Nicola Offshore has joined forces with
of the Fram field. ocean monitoring expert Cyprus Subsea
Equinor last month exercised an Consulting and Services to boost the

Week 15 15•April•2021 www. NEWSBASE .com P15