Exploration

From 1 May, foreign firms registered in China with net assets of 300 million yuan (US$43 million) will be allowed to take part in oil and gas exploration and production.

Mexico's President Andres Manuel Lopez Obrador made the announcement at a press conference this week.

The survey commences at the end of 1Q20 and is expected to be completed in 2Q20.

The FPSO will allow for the integration of potential future development phases, including gas export to shore and future subsea tie-backs.

CGG has closed its strategic partnership transaction for marine seismic acquisition services with Shearwater GeoServices Holding AS (Shearwater).

The one-month survey will cover parts of block A5 offshore Gambia in the rapidly emerging and prolific Mauritania, Senegal, Gambia, Guinea-Bissau, Conakry (MSGBC) Basin.

These petrophysical interpretations, derived from well log and core analysis relationships in approximately 1400 wells within key unconventional basins, will be added to the current TGS data library.

Wintershall Dea Norge AS, operator of production licence 894, is in the process of concluding the drilling of wildcat well 6604/6-1 in the Norwegian Sea, according to the Norwegian Petroleum Directorate.

The discovery was made at the Maka Central-1 well drilled offshore Suriname on Block 58.

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.