Page 15 - Euroil Week 01 2020

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NEWS IN BRIEF
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Oilex strikes deals for East Irish Sea licences
Oil and gas explorer Oilex said on January
6 it had entered into a binding term sheet with Burgate Exploration and Production to acquire a 100% participating interest in the Doyle-Peel license (P2447) in the East Irish Sea (EIS), offshore UK.
It has also entered into an exclusivity agreement with Burgate, Comtrack (UK), and Simwell Resources (collectively BCS) for the potential acquisition of a 100% participating interest in the Castletown license (P2076).
The EIS licences provide an attractive entry into a proven gas fairway in the center of the East Irish Sea Basin. They are in shallow water near existing infrastructure reducing the complexity, risk, and cost of development. The EIS is a prolific basin which has produced around 8 trillion cubic feet of gas to date with considerable existing gas production, gathering, processing, and transportation infrastructure. The depth
to the target reservoirs is less than 2,000 meters thus providing modest drilling costs.
December 25 2019
Solveig Gas completes Duva field purchase
Norway’s Pandion Energy has completed the sale of its 10% non-operated interests in PL 636, comprising the Duva oil and gas field, and PL 686B.
Pandion said on January 6 that it had completed its previously announced transaction with Solveig Gas Norway.
The company announced in November that it would be divesting its 20% share in the Duva field through two transactions, one with PGNiG Upstream Norway
and one with Solveig Gas Norway,
each acquiring a 10% share in the two production licences.
Pandion’s sale of its interests in the licenses to PGNiG is expected to be completed in early 2020. The Polish oil
and gas company already entered the Duva field through the acquisition of a 20% stake in the Duva field from Wellesley in late October.
The Neptune Energy-operated Duva
oil and gas field is located in the northern North Sea and was discovered in the autumn of 2016. The Plan for Development and Operation (PDO) was approved
earlier this year, less than three years after discovery.
With recoverable reserves of 88mn barrels of oil equivalent, the field is slated to produce around 30,000 barrels of oil equivalent per day at its peak.
The Duva field will be developed as
a subsea tie-back to the nearby Gjoa platform, with first production expected in late 2020 or early 2021. Neptune started its first subsea installation and construction campaign on the Duva field in late July.
Neptune holds a 30% interest in the field, Idemitsu Petroleum Norge holds another 30%, PGNiG has 20%, while Solveig Gas has 10%. Following the closing of the transaction between Pandion and PGNiG, the Polish company will raise its stake to 30%.
December 31 2019
Aker BP cleared North Sea well
Norway’sAker BP has received consent from the Petroleum Safety Authority (PSA),for drilling in the North Sea using the Deepsea Nordkapp rig.
The well, named 25/2-22 S, is located in production licence 442 in the North Sea, where Aker BP is the operator. The only partner in the licence is Lotos Exploration and Production Norge with a 9.74% interest.
The PSA said on January 3 that the well would be drilled to appraise discovery 25/2-21 (Liatarnet), which was proven in July 2019. The consent also applies to a sidetrack well designated 25/2-22 A.
Announcing its consent for the well, the offshore safety body said that the drilling was planned to start in mid-January 2020 and would last 36 days in a water depth of 112 meters.
The Deepsea Nordkapp is a semi- submersible drilling rig of the Moss Maritime CS 60E type, owned and operated by
Odfjell Drilling. The rig was issued with Acknowledgement of Compliance by the PSA in April 2019.
Aker BP exercised its first one-year option for the Deepsea Nordkapp in mid-December 2019. The two companies originally entered the drilling contract in April 2018.
The first one-year option will begin after the expiry of the two-year firm period in May 2021. The approximate contract value for the firm scope is $128mn, excluding any integrated services.
January 6 2020
Petrofac gets $50mn North Sea deal
Oilfield services provider Petrofac has been selected by Petrogas NEO UK – a jointly owned company created by Petrogas E&P UK and NEO Energy, a portfolio company of private equity fund HitecVision – to establish its new North Sea operation following its recently announced asset acquisition.
In July last year, Total agreed to sell $635mn of UK North Sea assets to Petrogas NEO UK. These assets, located in the Eastern North Sea, were formerly owned by Maersk Oil.
Under the deal, Total sold its stakes in Dumbarton, Balloch, Lochranca, Drumtochty, Flyndre, Affleck, and Cawdor fields, all of which it operated. Total also divested its ownership in CNOOC-operated fields Golden Eagle, Scott, and Telford.
Petrofac said on January 8 that the two- year deal was valued in the region of $50mn and under it the company would integrate the services of its Operations, Projects and Well Engineering service lines.
As well as assisting in the transition of operations on the Quad 15 & Flyndre area assets, Petrofac will also provide ongoing operational, maintenance, engineering
and construction support; and deliver well engineering and project management support services for Petrogas NEO UK’s activities.
Commenting on the award, Nick
Shorten, Managing Director for Petrofac’s Engineering and Production Services (EPS) business in the Western Hemisphere, said: “This agreement represents a significant
new strategic partnership for Petrofac in our core UK market. Our ability to seamlessly integrate services across the asset lifecycle, will ensure Petrogas NEO UK’s requirements are efficiently supported as it seeks to safely and responsibly extend field life.”
January 8 2020
Wintershall Dea suffers dry well off Norway
Germany’s Wintershall Dea is concluding the drilling of a wildcat well near the Aasta Hansteen field in the Norwegian Sea. The well is dry.
The 6604/6-1 well, Gullstjerne, is located in production licence 894 where Wintershall Dea is the operator. It has
been drilled about 105 km southwest of the Aasta Hansteen field in the Norwegian Sea and 362 km west of Sandnessjoen.
The objective of the well was to prove
Week 01 09•January•2020
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