Judy Maksoud
Houston
Pohokura bigger than originally estimated
Fletcher Challenge Energy officially confirmed that its Pohokura gas-condensate field offshore New Zealand contains more hydrocarbons than initially estimated. According to FCE, mean reserves were revised upward, based on core and seismic data obtained from the Pohokura-1 and Pokohura-2 wells drilled in PEP 38459 just offshore north Taranaki last year.
On a gross basis, the mean reserves of the Pohokura field are estimated at 964 Bcf gas and 53 million bbl condensate, a total of 212 million BOE. This makes Pohokura New Zealand's second largest gas-condensate field, behind Maui, which has not yet been fully appraised. The remaining reserves estimate for Maui at July 1, 2000 was 1,330 Bcf of gas.
Seismic data collected over New Zealand Oil & Gas Ltd.'s Tui prospect in the west Maui offshore Taranaki permit show indications of hydrocarbon reserves. A new prospect situated over the Tui discovery is still being evaluated. Further analysis will take place once some logging samples can be evaluated. That should happen in the second half of the year if a semisubmersible drilling rig becomes available in the next month or so to drill a test well. A transitional zone 3D seismic survey was planned to begin in March. The objective of the survey is to address the possible nearshore and onshore extension of the field.
GEL farms in on Taranaki
GEL Exploration Inc. has farmed in to New Zealand's north Taranaki license PEP 38463, subject to ministerial approval. The company will become joint operator with Pacific Tiger Energy (NZ) Ltd. in a drilling program in the Awakino South and Mangatoa prospects. The work program includes drilling two wells and acquiring 3D seismic data over the next year, beginning in the second quarter. The hope is that there is considerably more oil and gas in the Taranaki Basin than originally believed. GEL plans to invest about $10 million in the work program, which will earn the company a 75% working interest in the permit. Pacific Tiger will retain a 25% interest.
New permits in Taranaki
Two new permits have been granted in the Taranaki Basin offshore New Zealand. Both permits are close to the coast, north and south of Cape Egmont. Permit PEP 38472, the larger of the two, was granted to New Zealand Oil & Gas Ltd. subsidiary Stewart Petroleum Company Ltd. The permit covers a region between the Maui and Kupe fields. To date, no wells have been drilled on the block, which is geologically deeper than the Maui high to the west. Stewart has identified several potential traps to target.
The second new permit was awarded to Fletcher Challenge Energy's new permit-holding subsidiary, Energy Exploration NZ. Permit PEP 38474 is in an area west of New Plymouth that covers an area of 1,174 sq km and touches the coast southwest of New Plymouth.
Australia awards Timor Sea permit
Australia's Minister for Industry, Science, and Resources and the Northern Territory Minister for Resource Development jointly announced the successful bid for a new offshore exploration permit in the Timor Sea, west of the Northern Territory. The winning bidder is a consortium that includes Daytona Energy Corporation (36%), Eagle Bay Resources N.L. (30%), and Westranch Holdings Pty. Ltd. (34%).
The permit area covers part of the Territory of the Ashmore and Cartier Islands Adjacent Area in the Vulcan sub-basin of the Bonaparte Basin in the Timor Sea. The permit area covers 1,085 sq km in water depths from 60 meters to 100 meters and is adjacent to new discoveries and production facilities. The consortium plans to spend $20.3 million on exploration, which includes drilling two exploration wells, as well as purchasing and reprocessing seismic data over the next six years. Australia is promoting E&P in hope of increasing domestic production and decreasing its dependence on imports.
Petronas makes headway on Angsi
Malaysia's national oil company, Petronas, announced completion of the first phase of Angsi field development in the South China Sea. This phase of the project includes the design, fabrication, and installation of a drilling and riser platform, modifications to the Guntong D platform, and modification to the Jerneh onshore slug-catcher in Kertih, Terengganu. Gas from Guntong D began flowing in February. Phase II, which is already underway, includes design, fabrication, and installation of two more platforms (one to produce crude oil and natural gas and the other a drilling platform). First gas from Angsi is expected in the first quarter 2002.
First oil for Amerada Hess
Amerada Hess Malyasia Ltd. discovered oil and gas with its second exploration well, Cendor-1, on Block PM304 off Peninsular Malaysia. The well was spudded in 63 meters of water and encountered hydrocarbons at multiple levels. The well tested at a maximum rate of 2,840 b/d of 420-gravity crude from a single zone. Further appraisal will be necessary to determine if the area holds commercial levels of hydrocarbons. Amerada operators Block PM304 (65.5%) along with Petronas Carigali Sdn. Bhd.(30%), and Petroleum Investment.
Statoil wants out of Nam Con Son
In early March, Statoil announced its desire to sell its operations in Vietnam. Less than eight months after investing in the Nam Con Son project, Statoil is considering giving up its investment. The Nam Con Son project includes contracts with Vietnamese authorities to develop the Lan Tay and Lan Do gas and condensate fields and to build a gas pipeline to land and a gas receiving station.
Statoil said several companies have expressed interest in taking over the group's position there. The Lan Tay field is scheduled to begin production at the end of this year.
Petrovietnam makes award for CPP-3
Petrovietnam Trading Co. awarded Keppel FELS Ltd. and Technics Offshore Engineering Pte. Ltd. a $46 million contract to design, engineer, and purchase construction materials for a central processing platform (CPP-3) for the Bach Ho field off Vietnam.
Keppel FELS has also been selected to provide technical supervision and expertise to the platform's end user, Vietsovpetro. The company will build and install all of the necessary equipment on CPP-3 and will assist in onshore and offshore commissioning activities.
Keppel FELS said CPP-3's capacity will be 15,000 tons/day for stock tank oil, 19,000 tons/day for liquids, and 12,000 tons/day for produced water. Petrovietnam Trading Co. and Vietsovpetro are both subsidiaries of state-owned oil and gas company Petrovietnam.
Chevron changes Thailand focus from gas to oil
Chevron Corp. has refocused its exploration and production in the Gulf of Thailand with an eye toward recovering more crude oil than natural gas. This move is based on Thailand's diminished demand for gas. Chevron will recover oil from Block B8/32 and concession tracts that it plans to obtain in the Thai Gulf. The company is trying to increase oil production from its Thai Gulf fields to more than 70,000 b/d by 2004.
Chevron is already the largest oil producer in Thailand. Production from the Tantawan and Benchamas offshore fields is now 34,000 b/d of light, waxy crude. The company hopes to reach its projected production levels by increasing the output of operating fields and by developing new fields, such as North Jarmjuree, Kung, and Maliwan. Chevron is targeting oil fields over gas fields for development.
