Page 17 - AfrOil Week 46 2022

AfrOil NEWS IN BRIEF AfrOil

business new africa bna/IntelliNews

Italian court rejects

Nigerian request for

compensation from
Eni and Shell

An Italian court has rejected a $1.1bn compensa-
tion claim made by Nigeria against Eni and Shell
over a $1.3bn oilfield deal.
The claim surrounds a deal made with Eni
and Shell in 2011, in which the two companies
acquired the OPL 245 offshore oilfield. The
agreement settled a long-standing dispute over
the oil bloc, which was previously owned in part
by former Petroleum Minister Dan Etete.
Nigeria has accused Eni and Shell of knowing
that around $1.1bn of the $1.3bn deal would be
used to bribe politicians, officials and middle-
men. In particular, Nigeria named Etete as one
of the officials who received some of these funds.
In July, a court in Italy denied Nigeria’s claims
of corruption and ruled that a crime had not
been committed. The prosecution had sought
long prison sentences for Eni and Shell exec- to produce nearly 12.4mn cubic metres of natu- geological perspective. The resulting full-stack
utives. Four months later, Nigeria’s attempt to ral gas, the company explained. PSTM data can be used for regional interpreta-
have $1.1bn returned in fines has now lso been The KSR-20 production store is still undergo- tion, giving a greater understanding of plays and
rejected by an arbitration court in Milan. ing technical studies and tie-in processes. SDX migration pathways across open acreage. Pre-
In a statement to Reuters, Shell noted that it said it will provide an estimate of the output gas stack PSTM products allow a thorough AVO
was pleased that the civil proceedings had been volumes later. analysis.
dismissed. “This follows the Milan criminal tri- In the statement, the company announced The Nigeria MegaSurveyPlus covers an area
bunal’s finding that there was no case to answer that it currently has identified over 70 prospec- of around 11,230 sq km over two main structural
for Shell or its former employees when they tive drilling areas. provinces directly linked to the gravity-driven
were fully acquitted in 2021, a decision that was SDX currently has a 75% interest in the movement of the Akata Shale Formation. The
upheld in July 2022, when criminal proceedings drilling operations while Morocco’s state utility eastern part of the dataset is in the transitional
ended,” Shell said. ONHYM holds the remaining 25% interest. The detachment fold zone and contains subtle fault-
bna/IntelliNews, November 14 2022 company’s four exploration and drilling per- ing along with low wavelength folding of Eocene
mits include Sebou Central, Gharb Occidental, to Quaternary stratigraphy. The west of the sur-
Moulay Bouchta Ouest and Lalla Mimouna Sud vey, situated in the outer fold and thrust belt, is
PROJECTS & COMPANIES exploration permits. SDX also has operations in dominated by closely spaced thrust faults.
Egypt. The Niger Delta Basin, formed during the
SDX Energy opens two bna/IntelliNews, November 15 2022 Late Cretaceous, contains up to 12 km of Late
Cretaceous to Quaternary-aged clastics depos-
gas production areas PGS releases new Nigeria ited in an upward-coarsening regressive deltaic
sequence. The main source rocks are Akata For-
in northern Morocco 3D reprocessing products mation marine shales and Lower Agbada For-
mation paralic shales.
London-listed SDX Energy announced the PGS’ first Nigeria MegaSurveyPlus provides Proven reservoirs in the basin lie in uncon-
opening of two gas production areas in northern 11,230 square km of 3D data and allows a thor- solidated sandstones of the Agbada Formation
Morocco, according to a statement on Monday, ough AVO analysis of structural provinces deposited as stacked turbidite channel-and-fan
November 15. directly linked to the Akata Shale Formation. complexes (Tuttle et al., 1999). The most signifi-
The launch of the two production sites fol- The MegaSurveyPlus concept revitalizes PGS’ cant accumulations are trapped in roll-over anti-
lowed successful drilling operations in the Nigeria MultiClient data library by reprocessing clines in the hanging walls of growth faults, but
SAK-1 and KSR-20 wells in the region, the com- 3D data from field tapes. Modern techniques hydrocarbons may also be found in fault closures
pany said in a stock filing, noting that it will fur- such as optimized denoising algorithms and a and subtle stratigraphic traps.
ther drill more wells under its four exploration complete deghosting sequence have improved “Reprocessing has enhanced imaging of
permits in Morocco by next year. The company data bandwidth and signal-to-noise ratio. A mul- targets with improved illumination of complex
announced earlier it has identified over 70 pro- tiple attenuation process has enhanced image structures associated with the diapiric move-
spective drilling areas. integrity by eliminating complex multiples. ment of the Akata Shale Formation,” says Avril
The already functioning SAK-1 well was con- The scale of the MegaSurveyPlus 3D pro- Burrell.
nected to SDX infrastructure, and it is estimated ject gives an expanded and consistent regional PGS, November 16 2022

Week 46 17•November•2022 www. NEWSBASE .com P17