Exploration

Drilling in block 6507/8 is scheduled to begin in mid-January 2020, and is estimated to last for 67 days.

Vessel utilisation for 4Q19 was 80% compared with 32% for 4Q18. For the full year 2019, the vessel utilisation was 59%, whereas the utilisation for the full year 2018 was 33%.

The Vali-1 ST1 gas exploration well operated by Vintage Energy is being drilled through the Patchawarra Formation in Australia at a measured depth of 3059 m.

While net pay was lower than pre-drill forecasts, the company has said that the 27 degree API oil supports the significant potential of the Cretaceous play on both the Kanuku and adjacent Orinduik licences.

The work is expected to commence in early January 2020 and will continue through most of 1Q20.

CGG has agreed to transfer its 40% shareholding in Seabed Geosolutions to Fugro before the end of 1Q20.

Under the terms of the agreement, Apache and Total will each hold a 50% working interest in Block 58, which comprises approximately 1.4 million acres in water depths ranging from less than 100 m to more than 2100 m.

The acquisition includes acreage in the 1.2 million North Marakia Offshore block, which is located approximately five miles offshore Egypt’s northern coast in the Herodotus basin.

The Dumre Block covers an area of 587 km2 and is located approximately 40 km south of the capital Tirana, in a “proven” hydrocarbon area with good oil prospectivity.

The study will cover an area of approximately 80 000 km2 of the offshore Niger Delta and will incorporate around 150 cores from the seabed.

The data, acquired from a a US based E&P company, is available for licensing immediately.

The survey covers 1600 km2 of 3D and 800 km of 2D data in a deepwater area of the Bay of Bengal.

The National Offshore Petroleum Safety and Environmental Management Authority has accepted Equinor’s environment plan for exploratory petroleum drilling in the Great Australian Bight.

The project will cover approximately 1000 km2 of ocean bottom and towed streamer seismic on Repsol’s operated block offshore Peninsular Malaysia.

The company expects to complete and test the Cascadura-1ST1 well, located in the Ortoire exploration block, in 1Q20.