From interest in acreage on the Norwegian continental shelf to seismic surveys, below is a compilation of the latest headlines in the E&P space.
25 Companies Apply in Norway’s APA 2023
Twenty-five companies submitted applications for licenses in Norway’s Awards in Predefined Areas (APA) 2023, the Ministry of Petroleum and Energy announced on Aug. 29.
The Norwegian Petroleum Directorate said many of the companies active on the Norwegian shelf submitted applications for APA 2023, and that after evaluating the applications, the companies that will be offered shares will be announced early in 2024.
The ministry said the APA area is expanding as geological knowledge in areas on the Norwegian shelf increases. For this year's licensing round, the predefined area was expanded in both the North and Barents Seas.
The deadline for application was Aug. 23.
Contracts and company news
Multi-client 3D Survey Offshore Malaysia Pre-Funded
TGS and PGS announced, on behalf of joint venture consortium partner SLB, announced on Aug. 30 that pre-funding has been secured to expand the multi-client 3D coverage in the Sarawak Basin offshore Malaysia.
The survey is the third phase of a multi-year contract awarded by PETRONAS in August 2020 to acquire and process up to 105,000 sq km of multi-client 3D seismic data over a five-year period in the Sarawak Basin. The first phase of the Sarawak multi-client 3D project encompassed 8,400 sq km, followed by an additional 6,800 sq km during Phase 2.
The Ramform Sovereign vessel is expected to mobilize in late August, covering approximately 5,300 sq km for Phase 3, with acquisition completion anticipated in late November 2023.
Indonesian Seismic Coverage Expanding
TGS announced Aug. 29 a regional seismic imaging project that builds on existing Indonesian seismic coverage.
The Kutei 2D-cubed survey in the Kutei Basin will extend north from the East Java Sea 2D-cubed project area that concluded in late 2022. The Kutei project will build on this coverage, using 2D-cubed technology to integrate existing seismic data into a single, conformable exploration package. It will add a further 115,400 sq km of 2D-cubed data, resulting in a single, expansive, homogenous dataset encompassing more than 380,000 sq km offshore Indonesia.
The 2D-cubed technology from TGS generates a 3D seismic volume from a set of 2D lines. It uses an advanced algorithm to maximize the potential of existing 2D multi-vintage and 3D data.
CGG Launches New OBN Product
CGG announced Aug. 30 at the IMAGE conference in Houston that Sercel has added the GPR700 node to its portfolio. The node enables shallow water ocean bottom node (OBN) seismic surveys on continental shelves to 700 m.
Based on Sercel’s QuietSeis broadband digital sensor technology, the full OBN portfolio includes the GPR300, the GPR700, the GPR3000 and the MicrOBS.
Nauticus to Pilot Leak Detection Tech for Equinor
During the pilot project, Nauticus will demonstrate its detection technologies using autonomous robots for Equinor.
Geospace Wins Geophone Contract
Geospace Technologies Corp. announced on Aug. 30 it had won a $5.7 million contract from an international seismic contractor to deliver specialized geophones designed for vibration monitoring in rugged environments.
The geophones will be produced in the company’s manufacturing facilities with deliveries expected to begin in January 2024. The specialized geophones will be used in the customer’s proprietary system for an advanced marine sensing application.
Trendsetter’s Trident Extended in Brazil
Trendsetter Engineering Inc. announced on Aug. 30 that it won a two‐year contract extension with a major operator in Brazil for the use of the 6-in. 15,000 Trident Intervention System to facilitate well interventions as well as plug and abandonment operations. Trendsetter Engineering first mobilized the modular 15K intervention system in 2020 to Brazil, completing six well interventions in its first two campaigns.
Trendsetter has established a local Brazilian entity to support this agreement and future projects.
2023-08-19 - Canada’s TC Energy is seen to have sold equity in the premium asset to offset $60 billion in debt, leading to a slide in stock prices.
2023-07-27 - TC Energy said that after a two-year strategic review, the $36 billion company would best serve stockholders by spinning off its liquids pipelines business into a standalone publicly traded company.
2023-08-12 - Earthstone Energy CEO Robert Anderson talks about teaming up with non-op Northern Oil & Gas to buy Permian Basin operator Novo Oil & Gas—a deal he expects to close next week.
2023-09-05 - Enbridge said it would buy multiple companies from Dominion Energy that will forge the company in North America’s largest gas utility, ultimately delivering more than 9 Bcf/d of gas to approximately 7 million customers.
2023-08-16 - Ring Energy closed on an acquisition of approximately 3,600 net acres in Ector County, Texas from Founders Oil & Gas IV LLC.