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Greetings from StratoChem Services!
A blessed Eid to you! The end of Ramadan saw our annual company iftar (breaking of the fast), with a delicious meal prepared by StratoChem staff and much friendship and laughter. Moving into September, we have exciting developments on the horizon. First off, marketing team members Adam Brauner and D.C. Mungo, joined by research and interpretation adviser Henry Halpern, will be attending the American Association of Petroleum Geologists (AAPG) conference in Singapore. Plus, keep an eye open for our new website, which should start construction in the next few weeks!
For further information about our services please direct inquiries to: info@stratochemlabs.com
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Joint StratoChem/Spectrum Levantine Basin Study Ready!
It's no secret that offshore Lebanon is an upcoming oil and gas exploration hotspot. StratoChem and Spectrum Geophysics have compiled together years' worth of geochemical and seismic data from studies conducted in the region into a brand new report guaranteed to shed vital light on the country's hydrocarbon prospects. Don't get shut out of this exciting new exploration frontier. For more information, contact StratoChem Services or Spectrum representative Debbie Sewell at debbie.sewell@spectrumusa.com !  An oil-prone outcropping profiled in our study. Want to know where? Contact us!
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| Egypt: Minister of Petroleum Discussed Business Plans with the Heads of Foreign Companies Over the Coming Period
(www.egyptoil-gas.com - August 14th, 2012)
Eng. Osama Kamal, Minister of Petroleum and Mineral Resources held a meeting with several heads of foreign companies operating in Egypt, British Petroleum (BP) and the German RWE, Malaysia's Petronas and British Gas and Gaz de France.
The meeting discussed the current status of the companies work plans in the areas of exploration, production and well development along with the vision to develop and increase their investments to accelerate the implementation of development projects in the discovered gas fields, especially in the deep waters of the Mediterranean Sea.
The minister stressed that the strong relationships that connect the Egyptian Petroleum Sector to the foreign companies is a like launching pad to expand activities and create an economic partnership to achieve the common interests of both sides.
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| BP Expects to Start Libya Oil Exploration Drilling Next Year
( www.egyptoil-gas.com - August 26th, 2012)
BP PLC expects to start next year deep-sea drilling work off the coast of Libya, as the U.K. oil giant resumes it $2 billion exploration program halted by the rebel overthrow of Col. Moammar Gadhafi's regime last year.
The major oil company, which in May lifted a freeze on its activities in the North African country, will shortly begin the preliminary work needed before it can start drilling exploration wells, a BP spokesman said. Drilling itself will likely start some time before the end of 2013, he said.
London-listed BP is deciding on contractors to do underwater geological surveying, a tender invitation posted on the Libyan National Oil Company website showed. The deadline for tender submissions was Aug. 14.
As part of a deal agreed in 2007, BP will explore the frontier Sirt basin, which the company has described as being equivalent in size to more than ten of its deep-water blocks in Angola.
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| Egyptian Oil Flows from EPT in Excess of 2,500 BPD
(http://www.egyptoil-gas.com - August 5th, 2012)
Extended production tests of the successful exploration wells in Abu Sennan, Egypt, commenced last week. The tests will continue for 6 months and to date have yielded a combined flow rate of up to 2,524 barrels of oil per day, with associated gas.
Beach Energy Limited advises that the extended production tests (EPT), on its four successful wells in the Abu Sennan concession (Beach 22%) in Egypt's Western Desert, have commenced.
The four wells, Al Ahmadi-1, GPZZ-4, Al Jahraa-1 and El Salmiya-1 flowed oil, gas and condensate during drill stem tests from various intervals, including the Abu Roash C, E, and G members and the Bahariya Formation. The combined maximum production rate achieved to date from the EPT was 2,524 barrels of oil per day, with associated gas.
Read More...
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Kurdistan "Restarts Oil Exports"
( www.egyptoil-gas.com - August 9, 2012)
Oil-rich Kurdistan has restarted crude exports as a "goodwill gesture" to the central government in the south, according to a report.
The autonomous region in the north of Iraq has started to pump around 100,000 barrels of oil per day following a shut-in over a dispute with the Baghdad regime, Reuters reported on Tuesday.
"As we promised, today at around 12:00 we restarted pumping oil at around 100,000 barrels per day as a goodwill gesture towards the central government in Baghdad," Reuters quoted an unidentified senior Kurdistan Regional Government official as saying.
Read More...
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Heritage to Sell Miran Stake to Fund Nigeria
( www.petroleumafrica.com - August 23, 2012)
Heritage Oil is selling a portion of its natural gas block in Kurdistan, and borrowing money from Genel Energy Plc to raise $450 million to aid in funding its purchase of OML 30 in Nigeria.
The company said it will sell a 26% stake in Miran Block in Kurdistan to Genel and will take a $294 million loan from the company. The sale of the 26% stake will net Heritage $156 million and will increase Genel's holding in the Miran Block to 51%.
The company had originally planned to fund the OML 30 purchase through a rights issue.
"There is no need to proceed with the rights (issue) and any capital raising is dropped," Heritage's CFO Paul Atherton told Reuters.
Read More...
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DSME Scores Angola Job
South Korea's Daewoo Shipbuilding & Marine Engineering (DSME) and Angola-based PAENAL will be constructing five fixed offshore oil production and processing platforms for Chevron. Word of the $1.9 billion contract had been making the rounds, although the source of the contract had been kept quiet.
"These are oil production and processing platforms with no drilling capabilities," a DSME spokesperson told Rigzone. Among the five platforms, at least one of the platforms will be used in the Mafumeria Sul project.
Read more. . .
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Genel Joins Sidi Moussa Party
(www.petroleumafrica.com - May 24, 2012)
 Longreach Oil & Gas and its partners on the Sidi Moussa Offshore area in Morocco, Serica and San Leon Energy, have farmed-out a substantial stake in the permit to Genel Energy. Under the transaction, Genel will acquire a 60% equity interest in Sidi Moussa, pro rata from each of Longreach, Serica and San Leon according to their respective equity interests. In return, Genel will pay $1.3 million in recognition of past costs, and will pay for the drilling of the commitment well required under the terms of the first extension period of the Sidi Moussa permits (including the full costs relating to the state's, or ONHYM's, carried interest), up to a cap of $50 million. As a result of the farm-out, Longreach will hold an ongoing interest of 1.5% in the Sidi Moussa permits with Serica and San Leon holding 5% and 8.5% respectively. The joint venture partners have already informed the Moroccan authorities of their intention to proceed into the first extension period.
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Seismic Bulks Up Afren's East African Resource Portfolio
Afren plc has been busy adding up potential resources in East Africa through its seismic programs in the region. In its Half Yearly Results announcement the company said its prospective resources were upgraded following the maturation of its portfolio via seismic programs in Kenya, the Seychelles, Ethiopia, and Tanzania and its airborne gravity and magnetic surveys in Madagascar. Afren's mean net prospective resources have been upgraded for the East African portfolio from 2,113 mmboe to 5,838 mmboe. In addition the company has identified new plays offshore Kenya and Tanzania. On Kenya's Block 10A the company satisfied all of its seismic work commitments with the acquisition of 750 km of 2D seismic over the block in 2011, Tullow Oil (operator) is expected to spud a well on the Paipai prospect prior to the end of September. Acquisition of the planned 1,800 km of 2D seismic on Kenya's Block 1 is well underway and Afren is making good progress towards completion during Q4. Post period end, the company has increased its equity in the license to 80% under the terms of the original farm-in agreement. Read More... |
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 StratoChem employees enjoy the annual company iftar dinner in celebration of the end of Ramadan. |
. News from StratoChem!
StratoChem Services looks forward to attending the American Association of Petroleum Geologists' 2012 International Conference and Exhibition in Singapore. Entitled "Asia Pacific Resources: Fueling the Future," the ICE is a four-day event running from September 16th-19th, featuring a number of talks, classes, presentations and company exhibits and focusing on unconventional petroleum systems in the region. If you're in town, be sure to visit StratoChem representatives D.C. Mungo, Adam Brauner, and Henry Halpern at booth 1018!
To compliment our rising profile in the oil and gas industry, we're also changing our look a bit here at StratoChem. In the coming months, expect to see a brand-new, professionally-designed StratoChem website accompanied by all-new promotional materials. Even experience as extensive as ours can still look young, right?
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A tourist map of Egypt from the mid-1800's.
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Upcoming Events
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There are no abstract deadlines occurring in June 2012.
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The following conferences occur in June 2012:
For more complete conference information, go to the bottom of our home page at:
www.StratoChemServices.com. |
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Afternoon in the Black and White Desert.
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Hoisting the sail of a felucca. |
The Sphinx, as seen in 1875. |
| South Sudan to Restart Oil Wells in September, Full Output in a Year
(http://www.egyptoil-gas.com - August 9th, 2012)
South Sudan hopes to resume oil production in September after reaching an interim agreement with Sudan on oil export fees, but it may take a year to return to full capacity, its top negotiator said on Tuesday.
The two countries agreed on Friday on how much South Sudan should pay to export its oil through northern pipelines, ending a dispute that led to the shutdown in January of South Sudan's output of 350,000 barrels per day.
The deal marked a step towards ending hostilities between the African nations, which came close to a war in April when border fighting escalated in the worst violence since South Sudan became independent a year ago.
Sudan still wants to reach an agreement on border security, however, before allowing its landlocked neighbor to export oil through its territory. Both nations need to mark their 1,800 km (1,200 miles) border, a tricky issue since much of it is disputed.
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