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Vol. 224 No. 5 |
Perenco has signed an agreement with BP to acquire, subject to regulatory and other approvals, interests in 14 gas fields in the southern North Sea. The fields include Indefatigable, East Leman, Davy, Trent, Tyne, Pickerill and Waveney, plus associated pipelines and onshore processing facilities. Perenco will propose to become operator for these assets, subject to government and license partner approvals. Total proved net gas reserves for these fields are about 274 Bcf of gas. The net share of production is about 150 MMcfgd. The firm’s objective in the UK is to build a portfolio of operated producing assets focused on the southern North Sea Gas basin. Perenco hopes to use its experience in operating mature fields to prolong field life, initially through its cost structure, followed by further investment, where appropriate.
Kerr-McGee Corp. affiliates completed the sale of their interests in Kazakhstan to Shell companies, in a $165-million transaction. The Kazakhstan assets include a 50% interest in the Arman producing field, 100% interest in the Mertvyi Kultuk exploratory area, and a 1.75% working interest in the Caspian Pipeline Consortium. As part of its strategic divestiture plan, Kerr-McGee has now divested more than $950 million in non-core, high-cost assets.
Pebercan’s cumulative production at Block 7, its main property in the Republic of Cuba, has topped 10 million boe. In 2002, production reached 5. 2 million bbl of oil from 12 wells. Another well is due onstream shortly.
Expro International Group PLC and Baker Hughes Inc, formed a new, 50/50 joint venture company, QuantX Wellbore Instrumentation, to develop and market the permanent monitoring technologies of both companies. QuantX will create value-added, innovative wellbore instrumentation solutions from a comprehensive range of permanent monitoring technologies focused on reservoir evaluation, optimization and production enhancement solutions. It provides independent, permanent monitoring and offers a full suite of wellbore instrumentation.
Knowledge Systems, a provider of advanced subsurface hazard analysis software and services, agreed with Shell to supply geopressure analysis software for inclusion in the Shell Software Suite. Shell licensed the software for use in geopressure analysis before, during and after drilling. The software provides accurate geopressure analysis, including real-time analysis while drilling.
Weatherford International Ltd. has exercised its option to assume control of e2Tech Limited from Shell Technology Ventures Ltd. Weatherford was granted a global license for certain expandable tubular technology developed by Shell. By exercising the option, Weatherford now has access to a new range of expandable tubular technology for well completions and construction, and related intellectual property rights acquired by e2Tech.
Teton Petroleum Co.’s annual net production increased 396% last year, to 471,233 bbl from 94,879 bbl in 2001. The firm’s Russian output rate rose at year-end by 180%, to 1,750 bopd from 625 bopd a year earlier. Revenue grew 326% to $6.92 million.
The state of Qatar, Qatar Petroleum and ExxonMobil Middle East Gas Marketing Ltd. launched Phase One of Al Khaleej Gas (AKG-1). Al Khaleej Gas will produce natural gas from Qatar’s North field, recover associated condensate and NGLs, and market 1.75 Bcfgd. AKG will be developed in phases to meet its gas sales commitments. AKG-1 will supply about 750 MMcfgd to the Oryx GTL plant (QP/Sasol joint venture), Ras Laffan Power Plant and other industrial customers. First gas is slated for fourth-quarter 2005. Total investment for AKG-1 is more than $1.1 billion.
The Energy Services Division of Ondeo Nalco has completed the construction and commissioning phases of a new Sour Gas Lab at its facilities in Sugar Land, Texas. It was established to produce chemistries for corrosion inhibition in sour environments. Researchers will utilize the lab to establish new best practices for corrosion inhibitor performance in sour systems, and subject new inhibitors to a demanding series of tests to ensure performance reliability.
Sonoran Energy, Inc., has entered into an agreement to acquire a 15% working interest in a southern Californian oil field, producing over 1,400 bpd. Sonoran also is acquiring working interests in three natural gas producing properties in California’s Sacramento basin from Archer Exploration Inc.
Precision Drilling Corp. has completed its previously announced sale of Energy Industries Inc. to Toromont Industries Ltd. for $60 million in cash.
DNV opened a new office with a staff of 10 in Luanda, Angola, to support offshore oil and gas developments, and to help grow a local subcontractor industry. DNV already has a number of contracts with companies such as BP, Schlumberger, Pride and state-owned Sonangol.
Miramar, Florida-based Maritime Telecommunications Network, a provider of satellite-based communications, signed a cooperative agreement with Xantic, to offer a complete range of Inmarsat services to offshore operating companies.
Known as OPS (North Sea) Ltd since it was founded in 1988, the Aberdeen-based company has changed its name to OPS Group Ltd. The firm recruits, trains and finds employment for upstream professionals.
Chesapeake Technology, Inc., formed an alliance with its newest sales partner, Harvey-Lynch, Inc. of Stafford, Texas. Harvey-Lynch, a licensed reseller of all Chesapeake products including sidescan and sub-bottom acquisition, as well as a sidescan and sub-bottom processing package. This agreement is an important step for Chesapeake’s continued business expansion in the Gulf of Mexico and beyond.
MarkWest Energy Partners, L.P. closed its merger with Pinnacle Natural Gas Co. for about $38 million. Most of the gas-related assets are in Texas.
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