Page 16 - Euroil Week 01 2020

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NEWS IN BRIEF
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petroleum in Upper Cretaceous reservoir rocks (the Springar Formation).
The well 6604/6-1 encountered a total of about 185 metres of sandstone rocks
in the Springar Formation, with reservoir rocks in three zones totaling about 120 metres. The reservoir rocks are mainly of poor to moderate reservoir quality. The sandstones contain traces of gas. The well is classified as dry. Data has been collected and samples have been taken.
This is the second exploration well in production license 894. The well 6604/6-
1 was drilled to a vertical depth of 3606 metres below sea level and was terminated in the lower part of the Springar Formation in the Upper Cretaceous.
The water depth at the site is 1127 metres. The well will now be permanently plugged and abandoned.
The well 6604/6-1 was drilled by the Scarabeo 8 drilling rig, which will now drill an appraisal well 6604/5-2 S in production licence 894 in the Norwegian Sea, where Wintershall Dea Norge is also the operator.
January 8 2020
Neptune gets permit for Grind well
The Norwegian Petroleum Directorate (NPD) has granted Neptune Energy a drilling permit for a well in the Norwegian Sea.
The well 6507/8-10, known as Grind, will be drilled from the West Phoenix semi-submersible drilling rig after completing the drilling of wildcat well 15/3-12 S for Equinor in production license 025.
The drilling program for the well relates
to the drilling of a wildcat well in production licence 889. Neptune Energy is the operator with a 60% ownership interest. Other licensees are Equinor and Wellesley Petroleum, with 20% each.
The area in this license consists of a part of block 6507/8. The well will be drilled about 7 km east of the Heidrun field in the Norwegian Sea and 216 kilometers west of Bronnoysund.
The licence was awarded on February 10, 2017, in APA 2016 and this is the first well to be drilled in the license.
The PSA has already given its consent for the use of the West Phoenix rig for the drilling of the Grind well. According to the PSA’s consent, the drilling is scheduled to begin in mid-January 2020 and it is estimated to last for 67 days.
January 8 2020
Shearwater wraps up
seismic fleet expansion
through CGG deal
Marine geophysical services provider Shearwater GeoServices has completed a transaction with CGG including the takeover of five seismic vessels and the five-year capacity agreement for marine seismic acquisition services.
Shearwater initially signed a binding term- sheet with CGG for a strategic partnership for marine seismic acquisition services and the creation of a new streamer technology company back in June 2019.
Shearwater said on January 8 that the transaction included five streamer vessels and two legacy vessels previously owned by CGG and Eidesvik Offshore.
The deal also included five complete streamer sets previously owned by CGG and a long-
term capacity agreement granting Shearwater
a guaranteed cash flow and activity level for a period of five years.
The company added that preparations for the joint creation of a new streamer technology company were underway with expected completion in the first half of 2020.
The capacity agreement includes a minimum commitment of two vessel-years annually over the agreed five-year period which yields an attractive cash flow and activity level for Shearwater and ensures CGG access to strategic capacity for its future multiclient projects through Shearwater’s global fleet of 3D vessels.
Irene Waage Basili, CEO of Shearwater, said: “We aim to be the preferred long- term industrial partner to our customers worldwide. This transaction signals
the start of a strategic partnership with CGG both on acquisition and streamer technologies.
“For Shearwater, the guaranteed cash flow and activity level from the capacity agreement give vastly improved visibility and debt management capabilities in a market historically known for its spot nature.”
Shearwater also stated that this transaction was a pure asset transfer and the company had at closing assumed the net liabilities associated with the vessels taken over. Following the transaction, Shearwater has a fleet of 23 vessels, including three OBS MPVs and two dedicated source vessels.
January 9 2020
Equinor to extend the life of Statfjord field towards 2040
Norwegian oil and gas company Equinor and its partners in the Statfjord area have approved plans to extend production from the field towards 2040.
The new business plan will ensure even higher use of resources, extract more value from the field, and allow plans for decommissioning Statfjord A in 2022 to be deferred, Equinor said on January 9.
Based on extensive mapping of the underground, the remaining potential of the Statfjord area is still considerable.
Equinor and its partners have therefore resolved a new business plan for the Statfjord main field and satellite fields. Var Energi, Spirit Energy, Petoro, Idemitsu Petroleum, and Wintershall Dea are partners in the Statfjord area, and Equinor is the operator.
Statfjord A was scheduled for decommissioning in 2022, however, the field life will now be extended to 2027. The lives of Statfjord B and C will be extended beyond 2035.
According to Equinor, through 40 years of production, Statfjord has generated NOK1.6 trillion gross income to the owners and the Norwegian society.
Around 100 new wells will be drilled towards 2030. The wells will help reach an ambition
of maintaining the current production level from Statfjord beyond 2025. This will require considerable investments and upgrading of the three platforms.
While new wells and extended production will increase revenue, Equinor will continue to improve operations to keep costs at a low level.
January 9 2020
PGNiG replaces, board, CEO
Polish gas company has replaced three vice presidents on its supervisory board and its CEO, it reported on January 9.
Piotr Wozniak, CEO since 2016, has been replaced by Jerzy Kwiecinski, Poland’s former government finance minister. PGNiG also dismissed its vice presidents for finance Michal Pietrzyk, for trade Maciej Wozniak and for development Lukasz Kroplewski. They will be superceded by Przemyslaw Waclawski, Jaroslaw Wrobel and Arkadiusz Sekscinski respectively.
The new presidents have three-year contracts. PGNiG’s vice president for operations, Robert Perkowski, will retain his position for another three years.
January 9 2020
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Week 01 09•January•2020