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Greetings from StratoChem Services!
Within the industry it appears that spring marks a season of conferences, a number of which we at StratoChem Services are particularly looking forward to. The first on our list will occur this coming month, at the beginning of April, and it is the 15th International Conference on Petroleum, Mineral Resources, and Development held by the Egyptian Petroleum Research Institute (EPRI). Not only will StratoChem have a booth at the exhibition but we will also be participating in a poster session with our paper entitled "Chemostratigraphy of the Gebel el Maghara (Sinai, Egypt) using portable, handheld X-ray Fluorescence (XRF) Analysis." As many of you know, we have been quite keen on experimenting with the possible applications of the XRF. This paper will discuss one of those applications - chemostratigraphy. We are very excited to present our findings, discuss the implications, and hear feedback from our peers. We look forward to seeing you there!
For further information about our services please direct inquiries to: [email protected]
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Egypt: MENA Hydrocarbons Announces Operations Start at Lagia Oil Field and Creation of JV Company
(www.energy-pedia.com - March 25 2012)
Egypt: MENA Hydrocarbons announces operations start at Lagia oil field and creation of JV company.
Last year was a trying period for Egypt's leading petroleum agency in charge of exploration and development of petroleum resources, Egyptian General Petroleum Corporation (EGPC).
Operations on the Lagia oil field development commenced March 16, 2012. Using Petro services Drilling Overseas (PSDO) 750 HP rig Shams 1, the six well program consists of working over two existing wells, the drilling of two development wells and drilling a further two appraisal wells.
Well Lagia 6, drilled in 2000, has now been successfully re-entered and re-perforated.
The existing Lagia 6 and 7 wells are expected to be completed with a subsurface pump whereafter two development wells and two appraisal wells are planned to be drilled to the top of the Thebes formation at around 1500 ft. The development wells will be completed with thermal casing in order to facilitate steam injection as part of a cyclic steam soak pilot project and fitted with a sucker rod pump. A contract for the rental of a 24 MM BTU steam plant is currently being finalised. The plant is expected to arrive by mid 2012. Installation of production facilities for the pilot phase is being finalised to be operational after completion of the workovers. The produced oil will be transported by road tanker to the production facilities of the General Petroleum Company (GPC) at Ras Gharib.
Lagia Oil Field
MENA is the sole participant in the joint venture company with EGPC, which operates the Lagia Development Lease covering a 32 sq km block of land located on the Sinai Peninsula, directly adjacent to the Gulf of Suez. Within the lease, four wells have been drilled between the years 1949 to 2000 that have identified the Lagia oil field. Three producing oil fields, Sudr, Matarma and Asl, are located as close as 26 km to the north of the Lagia oil field.
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| Tunisia: CYGAM Energy Announces Drilling of the BJA-2 Exploration Well in the Sud Remada Permit
(www.energypedia.com - March 25, 2012)
CYGAM Energy has advised that the Chinook Energy-operated BJA-2 well will be drilled to a total vertical depth of approx. 1,580 metres MD to evaluate the hydrocarbon potential of a new large structure, named Bir Jaouacha, located approx. 17 km north-west of the producing TT structure in the Bir Ben Tartar production concession within the Sud Remada permit.
The main targets of the BJA-2 well are the Bir Ben Tartar and Lower Jeffara Formations of lower Ordovician age, which are the same reservoirs that produce oil in the TT structure. An extensive coring program of approximately 60 to 80 m in length is planned in the Lower Jeffara and Bir Ben Tartar reservoir formations.
The TT structure, located within the Bir Ben Tartar production concession in the Sud Remada Permit, is currently producing an average of 2,000 bopd from 7 wells (from TT-2 to TT-8). One additional appraisal well (TT-9), drilled in early 2012 as the initial well of a planned 11 well development program, is currently being completed.
CYGAM will participate for its 14% direct working interest in the BIA-2 exploration well which is being drilled by Chinook Energy Inc.
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Lukoil, Iraq To Sign $998M West Quran Deal With SamSung
(www.rigzone.com - March 20th 2012)
Russia's OAO Lukoil Holding and Iraq will officially sign a $998 million deal Thursday with South Korea's Samsung Group to develop the supergiant West Qurna phase 2, oil field in southern Iraq, the Iraqi oil ministry said in a statement Tuesday.
Lukoil and Iraq awarded the deal to Samsung in January to build a central processing facility, or CPF. Work on the facility is expected to take 31 months to complete, officials had said.The CPF will enable the consortium to produce 400,000 barrels of oil a day from West Qurna-2 by 2014 as part of the first-stage development of the field, officials said.
Lukoil and Norway's Statoil ASA were awarded a 20-year service contract for West Qurna Phase 2 in Iraq's second licensing round held in December 2009. The companies promised to get the southern field pumping at a rate of 1.8 million barrels a day for payment of $1.15 a barrel.
Statoil however is selling its 18.75% stake in the project to Lukoil. But it is still awaiting formal letter approving the sale from the Iraqi oil ministry, people familiar with the situation said. If the sale executed, Lukoil's stake in the venture would become 75%, while the remaining stake is owned by the Iraqi state company.
First oil production from the field is expected at the end of 2013, the officials said. First output of about 150,000 barrels a day will flow in 2013 and then rise rapidly as more wells are tied in, they added.
Iraq and Lukoil have recently awarded a deal to France's Entrepose Contracting SA to build storage tanks at the supergiant West Qurna phase 2 oil field in southern Iraq, and another to Turkey's Enka Insaat ve Sanayi A.S. to build a 126 megawatt power plant in the field.
Last August, Lukoil awarded a contract to Baker Hughes Inc. to drill 23 new wells in the field. West-Qurna-2 is a green field that has yet to produce any oil.
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Dana Gas Encumbered by Payment Delays
(www.egyptoil-gas.com - March 14, 2012)
UAE-based Dana Gas is struggling to cope with the payment delays owed from Egypt and Kurdistan. The company's outstanding debt of $1billion Sukuk (Islamic bonds) has significantly strained the company's ability to progress its expansion plans in Egypt.
Moreover, investors are growing anxious as to the company's liquidity problems and the risk of defaulting on the outstanding debt once the bond reaches maturity next October.
A company's spokesman stated, "With reference to its Convertible Sukuk which are not due until 31 October 2012, the Company has been proactive in taking the initiative to mandate advisors including an international financial advisor and will update the market with its plans in good time and due course."
"Dana Gas maintains strong positive relationships with its host Governments, and is progressing constructive discussions with the Egyptian Government covering the delayed payments due from government owned entities owing to the unrest in that country over the past year. In 2011, a total of US$177 million in cash attributable to its share of receivables was collected from Egypt and Kurdistan," the statement added.
On January 8th, Investment Bank Exotix stated, "We have little confidence in Dana's ability to repay the US$920 million sukuk." Therefore, Dana Gas may have to resort to restructuring its bonds if this fiscal quandary is not resolved before the end of next October.
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Namibia: Chariot Oil & Gas Announces Placing Of Ordinary Shares and Corporate Update
(www.energy-pedia.com - March 20, 2012)
Chariot Oil & Gas, the independent Africa focused oil and gas exploration company, has announced that it has conditionally placed 18,110,400 New Ordinary Shares at a price of 170 pence per share to raise gross proceeds of �30.8 million (approx. US$48.7 million).
Highlights:
Placing to raise �30.8 million (approximately US$48.7 million):
- Net proceeds provide immediate boost to the Company's already strong working capital position
- Enables a new, long term supportive investor to take a meaningful stake in the Company
- Allows for the drilling through to the base of a deeper identified target in the Tapir South exploration well
- Increases options for follow up activity and insulates against rising industry costs
Farm out discussions remain on-going across all blocks of interest
The Maersk Deliverer rig has been mobilised and is en route to Namibia; It departed the port of Takoradi (Ghana) for the Tapir South location on 16 March 2012 with an anticipated spud date of early April as previously announced
Cash in hand at year end, prior to today's placing, was US$129.0 million, cash post placing is approximately US$175 million
Paul Welch, CEO of Chariot, commented:
'We have taken advantage of an opportunity to introduce a major, long-term investor to the register. With cash in hand at the year end of US$129 million and cost obligations carried on the Kabeljou-1 exploration well, Chariot is fully funded for its immediate work programme. Proceeds from this Placing, therefore, will be used to give us greater headroom for contingencies, allow us to drill an additional deeper target and enable us to fund additional follow up activities. The Board believes this is a prudent move given increasing costs in the oil industry and the current financial markets.'
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Apache Gets Green Light on Faghur Basin Development Leases
(www.Petroleumafrica.com - March 27, 2012)
Apache Corp. has received approval for seven new development leases in the FaghurBasin. The green light for development leases has allowed the company to add an additional 5,200 bpd of new production in Egypt's Western Desert.
The US independent has drilled eight development wells in the Faghur Basin this year, including the West Kalabsha A-6, a westward extension of the West Kalabsha-A structure that tested 2,750 bpd from a series of stacked AEB reservoirs. Apache is currently drilling three wells in the Faghur Basin and 14 more wells are planned during 2012.
The Neilos-2 was Apache's latest Faghur Basin well. The Neilos-2 well flow tested at a rate of 6,301 bpd and 4.2 Mmcf/d of gas per day. The well, one-half mile (0.8 km) north from the Neilos-1X discovery, was drilled to appraise the north flank of the Neilos Field and logged 33 ft of net pay in the Jurassic Safa reservoir.
Two other recent discoveries in the Faghur Basin made by Apache include the West Kalabsha South-1X, which tested at a rate of 2,244 bpd and 4.3 Mmcf/d of gas from the Cretaceous Alem el Bueib (AEB) and Safa reservoirs. The well confirmed a significant extension of the Siwa-D discovery into the West Kalabsha Concession. The second was the WKAL-N-1X which intersected 26 ft of net pay in the AEB-6 and 38 ft of net pay in the Safa and test-flowed 4,978 bpd and 4.7 Mmcf/f of gas.
In focus areas northeast of the Faghur Basin, Apache has drilled seven wells, including four discoveries. Drilling is underway at six locations and 13 more wells are planned during 2012.
Apache continues to acquire and evaluate 3D seismic surveys to enhance its drilling inventory across its nearly 10 million acres in the WesternDesert. In the Faghur Basin the company recently completed two surveys, including a 1,040 sq km survey to identify additional exploration opportunities to the west in the basin, across the Sallum Concession, and a 1,698 sq km survey covering the eastern part of the basin underlying the Khalda Offset, South Umbarka, and Shushan concessions.
The company is currently acquiring new 3D seismic surveys in its concessions in the Western Desert to replace and improve upon existing data. A 1,027 sq km survey at West Kanayes and a 1,065 sq km at West Ghazalat that will enable Apache's technical teams to high-grade prospects in relatively underexplored areas.
Apache's current gross operated production in Egypt totals approximately 203,000 bpd and 880 Mmcf/d of gas in Egypt, up 3% from 2011. Under the terms of the production sharing agreements, Apache's net is about half of the gross production.
"Apache is pushing Jurassic, Cretaceous and Paleozoic plays farther south and westward in the Faghur Basin," said Tom Voytovich, Egypt Region VP. "This significant expansion in development acreage in the Faghur Basin is the result of Apache's strong regional knowledge that enables our geoscientists to identify multi-pay targets as they develop new play concepts. This work has led to the discovery of five new Faghur fields over the last six months."
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Iraq Mulls Lifting Bidding Ban On ExxonMobil
(www.rigzone.com - March 22, 2012)
The Iraqi oil ministry is still considering whether to allow Exxon Mobil Corp. to bid in a new Iraqi energy licensing auction, lifting a ban that was imposed on the U.S. giant because of the deal it struck with the country's semi-autonomous Kurdistan region, Iraqi oil minister said Thursday.
"We are going to discuss this matter in the ministry and, God willing, we will take a decision," Abdul Kareem Luaiby told reporters in Baghdad without elaborating.Iraq's Deputy Prime Minister for Energy Hussein al-Shahristani announced last month that Exxon would be banned from taking part in the country's oil-and-gas licensing auction scheduled in May this year.
Shahristani has previously said Exxon would have to choose between its deal to explore six areas in Kurdistan and its central-government contract to develop the 370,000 barrels a day West Qurna Phase 1, Iraq's second largest oil field with proven reserves of more than 9 billion barrels.
Luaiby confirmed an earlier statement that Exxon had sent a written letter to Baghdad on March 5 that it was suspending its operations in the Kurdistan region. But Kurdish officials have denied that Exxon has frozen its work in Kurdistan.
Exxon has so far made no public comments whether it has suspended its work in Kurdistan or not.
Exxon is producing around 370,000 barrels a day of oil from the West Qurna field under a service contract with the Baghdad government. Many other large oil companies including BP PLC, Royal Dutch Shell PLC, Eni SpA and Lukoil Holdings have similar contracts.
The Kurdistan Regional Government has signed nearly 50 oil-and-gas deals with international oil companies, mostly second-tier or wildcat explorers. The KRG hoped Exxon's presence would lead to other oil majors beginning operations in the region.
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Iran Sanctions Affect African Importers
(wwww.Petroleumafrica.com - March 23, 2012)
The sanctions issued against Iran to try and force it to abandon its nuclear ambitions are having far reaching affects. Not only is the tension between the Middle Eastern country and Western nations affecting the price of oil in those countries, it is also putting a burden on some countries that cannot afford it such as Namibia and South Africa.
Namibiahas to import all its refined fuel from South Africa. Making the situation worse for Namibia is that South Africa just recently suspended nearly all its oil imports from Iran and plans to abide by a US request to reduce its Iranian supplies.
"(To my knowledge), no Iranian oil is flowing into our country," deputy foreign minister Ebrahim Ebrahim told a news conference. "If there is any, it is very little." While the country is on a list of countries allowed to buy Iranian oil South Africa could still be subject to sanctions from the US if it did not pare down its oil purchases.
How does this affect Namibia? While the country will still be supplied with fuel, prices could rise considerably for consumers. Namibian Ministry of Mines and Energy Deputy Director for Petroleum and Gas Immanuel Nghishoongele said: "Iran is under UN sanctions and they are a major supplier of oil to the international market. This means that the price of crude oil on the international markets will be affected and Namibia too will feel the pinch."
UN sanctions against Iran which prohibit any member of the world body from buying Iranian oil has pushed up the price of crude significantly. In turn, Iran has threatened to cut its fuel supplies to some Western countries whose firms operate in South Africa and supply Namibia with fuel.
Prior to the crisis between Iran and the West, Namibia and Iran has signed a number of agreements to cooperate in various sectors of Namibia's economy, including the mining sector. Namibia is one of Africa's uranium producers.
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 Our expanded MPLC up and running. |
. New from StratoChem!
StratoChem Services will soon be acquiring a new GCMS (Gas Chromatography Mass Spectrometry) machine fitted with a Gerstel thermal extraction unit. This unit will allow us to thermally extract hydrocarbons, inject them into the GCMS, then obtain results for both all in one run. Thermal extraction was a capability we previously did not have, so we are delighted to be able to offer this as a new service to our clients, the needs of whom we were responding to in acquiring this new machinery.
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Upcoming Events
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There are no abstract deadlines occurring in April 2012.
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The following conferences occur in April 2012:
- OILGASMINE Trade and Finance, Conference and Exhibition: Brazzaville, Congo - starting 2 April 2012
- Executive Oil Conference: Muscat,Oman - starting 2 April 2012
- Cyber Defence Summit - Internet Security and the Oil and Gas Summit 2012: Muscat, Oman - starting 2 April 2012
- San Antonio Oil & Gas Career Fair: San Antonio, TX, US - starting 3 April 2012
- Corrosion Management Summit in Oil and Gas: Abu Dhabi, UAE - starting 10 April 2012
- Houston Oil & Gas Career Fair: Westside, Houston -starting 12 April 2012
- 18th Latin Oil Week: Rio de Janerio, Brazil - starting 16 April 2012
- 18th Latin Oil Week: Lagos,Nigeria - starting 18 April 2012
- Global Corrosion Management in Oil and Gas 2012 Praxis Interactive Technology Workshop: Abu Dhabi,UAE - starting 23 April 2012
- 5th Annual Sub-Saharan Africa Oil & Gas Conference, 2012: Texas, USA - starting 26 April 2012
For more complete conference information, go to the bottom of our home page at:
www.StratoChemServices.com. |
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StratoChem employees enjoying each other's company in our preparation lab.
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Iraqi Well Sings for Talisman
(www.rigzone.com - March 26, 2012)
Talisman Energy Inc. has confirmed the presence of light oil at the Kurdamir-2 well in the Kurdistan Region of northern Iraq.
"This is an exciting development in our understanding of this play," said Richard Herbert, Executive Vice-President of International Exploration. "We have tested only a portion of an upper zone, but we have clear indications that there is oil here, in addition to natural gas and gas condensate. We are now drilling into the deeper objectives and will conduct more extensive testing, including stimulation, over the summer."
The well flowed at unstimulated rates of 7.3 mmcf/d of natural gas and 950 bbls/d of oil and condensate, with no indications of water and no observed decline. This open hole drillstem test was conducted only over the upper 180 feet (55 meters) of the Oligocene reservoir. A total of 459 feet (140 meters) of gross reservoir (289 net feet or 88 meters net) was identified through wireline logging.
The Kurdamir-2 well is a re-drill of the Kurdamir-1 gas/condensate discovery well, 1.2 miles (2 kilometers) away, that was drilled in 2009 but not completed.
Talisman is operator of the Kurdamir Block, with a 40% working interest. Joint venture participants include WesternZagros, with a 40% working interest, and the Kurdistan Regional Government (KRG), with a 20% carried interest.
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Sudan To Attract Saudi Investments In Oil And Gas Sectors
(www.egyptoil-gas.com - March 19, 2012)
A top official at the consulate general of Sudan in Jeddah said yesterday that a number of Saudi businessmen are intending to invest more than $1 billion in the Sudanese oil and gas. He expected that Sudan would start exporting oil in the next 3 years.
The Sudanese government is interested in introducing advanced technologies to develop the oil sector. However, there is a need for attracting Saudi investments and their experiences to support this sector.
"The Saudi investments focus on exploring oil and developing the petroleum services. We are currently working to explore the minerals in the North of Sudan," Abdul Aziz Mohammed Abu Taleb, an economic adviser at the Sudanese consulate, told Arab News.
"There is strong cooperation between the Kingdom and Sudan to explore the minerals in Sudan and increase the size of investments in Sudanese oil. We held a number of ministerial rounds between the two countries, especially between the Ministry of Petroleum and Mineral Resources and the Energy Ministry of Sudan to enhance the cooperation in this sector," he said.
"The separation of South Sudan has no impact on the relations between both countries. Sudan is currently exporting animal products, 2.5 million cattle heads and agricultural commodities to the Kingdom," added Abu Taleb.
"The trade exchange between Sudan and Saudi Arabia is more than $2 billion. We will focus more on the agriculture sector, which plays a big role to enhance the bilateral trade. The Sudanese government offers facilities to Saudi businessmen for investing in the agriculture sector as agricultural lands are leased for 99 years," said Abu Taleb.
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