Page 12 - EurOil Week 25

EurOil
NEWS IN BRIEF
EurOil
Romanian gov considers
sale of 8% stake in OMV
Petrom
Romania’s ruling coalition parties PSD and ALDE are meeting this week to disucss the sale of a 8% interest in OMV Petrom to the company’s employees.
e sale is mandated under a 2003 decree on OMV Petrom’s privatisation. Romania’s High Court recently ruled that the sale must go ahead.
Petrom was sold in 2004 to Austrian company OMV for 1.5bn euros ($1.7bn), although the state retains a 20.6% stake. e
sale of 8% to the company’s employees has been delayed because of a lack of clarity on which employees should have the right the buy the shares. At the time of its privatisation, Petrom had 60,000 employees but its sta has since been reduced to 12,500.
June 26 2019
OMV, Equinor pen deals to explore offshore Norway
Austria’s OMV and Norway’s Equinor have entered into preliminary agreements for the joint development of two discoveries on the Norwegian Continental Shelf.
Under the accords, Equinor will continue operating the Wisting discovery during
the development stage, and then OMV will assume the role of operator once production starts. e pair will also co-operate to nd
a best means of developing the Hades/Iris discovery.
June 26 2019
Russia’s Vysotsk LNG
terminal exports new batch
to Lithuania
Russia’s Vysotsk LNG terminal on the Baltic Sea coast delivered another batch of LNG to the Klaipeda receiving terminal in Lithuania on June 21. e Vysotsk facility’s owner, Russian gas producer Novatek, sold the volume to Jonava-based fertiliser producer Achema.
“ e Cora Favia bunker vessel started its unloading into the FSRU Independence this morning. It brought 10,000 cubic metres of LNG,” Orinta Barkauskaite, a spokesperson for the Klaipeda terminal’s operator, was
quoted as saying by the Baltic News Service. e Klaipeda terminal is used by Achema,
Lietuvos Energijos Tiekimas (LET), a subsidiary of the state-owned energy group Lietuvos Energija, and raw materials supply group Imlitex, to import gas.
June 26 2019
NPD issues Capricorn Norge
with drill permit offshore
Norway
e Norwegian Petroleum Directorate (NPD) has granted Capricorn Norge AS a drilling permit for well 6608/11-9.
Well 6608/11-9 will be drilled from the Transocean Arctic drilling facility in position 66 2`54.07 N and 08 22`34.16 E.
e drilling programme for well 6608/11-9 relates to drilling a wildcat well in production licence 842. Capricorn Norge AS is the operator with an ownership interest of 40 per cent and the licensees are Skagen44 AS with 30 per cent and Pandion Energy AS with 30 per cent. e area in this licence consists of parts of blocks 6608/10, 6608/11 and 6608/12. e well will be drilled about 13 kilometres northeast of the Norne eld.
Production licence 842 was awarded on 5 February 2016 in APA2015. is is the rst exploration well to be drilled in the licence.
e permit is contingent on the operator securing all other permits and consents required by other authorities prior to commencing the drilling activity.
June 26 2019
Bulgaria aims for TurkStream finish in 2020
e President of the Bulgarian National Assembly, Tsveta Karayancheva, said on June 26 that construction of the Bulgarian section of the TurkStream pipeline would be completed by the end of 2020.
“In accordance with European directives, we are beginning construction of a branch
of the TurkStream,” Karayancheva said a er
a meeting with Russian State Duma Speaker Vyacheslav Volodin. “We are not evading the obligations that we have made to our citizens. In connection with this, we have made changes to our country’s energy strategy. Before the end of 2020 with full compliance with European directives, the construction of a branch, the so-called Balkan Stream, which would ensure gas supplies to other European
countries, will be completed.” Karayancheva noted that Bulgaria was
forced to abandon work on TurkStream’s predecessor, South Stream, a er the project was found to be in violation of the EU’s ird Energy Package. Bulgaria halted work on South Stream in 2014.
June 26 2019
Dry well reported north of North Sea’s Gina Krog field
Aker BP ASA, operator of production licence 777, has completed the drilling of wildcat
well 15/6-16 S. e well was drilled about 10 kilometres north of the Gina Krog eld and 220 kilometres west of Stavanger in the central part of the North Sea.
e primary exploration target for
well 15/6-16 S was to prove petroleum in reservoir rocks from the Middle Jurassic Age (the Hugin and Sleipner formation). e secondary exploration target was to prove petroleum in reservoir rocks from the Late Triassic Age (the Skagerrak formation).
Well 15/6-16 S encountered the Hugin formation with a thickness of about 10 metres, of which sandstone layers totalling 5 metres with poor reservoir quality. e Sleipner formation of 95 metres has sandstone layers totalling 25 metres with reservoir properties of moderate to poor quality. e Skagerrak formation came in with a thickness of 80 metres, with sandstone layers totalling 25 metres with poor to moderate reservoir quality.
e well is dry.
Data acquisition and sampling have been carried out.
is is the rst exploration well in production licence 777. e licence was awarded in APA 2015.
e well was drilled to respective vertical and measured depths below the sea surface of 4162 and 4173 metres, and was terminated in the Skagerrak Formation from the Late Triassic Age.
Water depth at the site is 116 metres. e well will now be permanently plugged and abandoned.
Well 15/6-16 S was drilled by the Deepsea Stavanger drilling facility, which will now proceed to production licence 442 in the central part of the North Sea to drill wildcat well 25/2-20, where Aker BP is the operator.
June 27 2019
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Week 25 27•June•2019