Eaglewood bags first pipeline, facilities licenses in Papua New Guinea' s Western Province

Eaglewood Energy has been offered a Strategic Processing Facility License (APPFL 3) and Strategic Pipeline License (APL 9) in the Western Province of Papua New Guinea. Final grant of the licenses is subject to a number of condition precedents, the most significant of which is the establishment of a Project Agreement between Eaglewood and Papua New Guinea.

The licenses will grant Eaglewood the right to construct and operate a strategic gas condensate processing facility close to the Ubuntu Discovery Petroleum Retention License (PRL 28 - Eaglewood, Talisman Energy, Mitsubishi, MFI) and Elevala, Tingu and Ketu discoveries (PRL 21 - Horizon Oil, Talisman Energy, Mitsubishi, Kina Petroleum), and a strategic pipeline to deliver the condensate from these fields to a location on the Fly River, from where it will be shipped to market.

Eaglewood has a participation agreement in place with Trafigura, whereby the two companies are working together with a view to jointly financing and owning the pipeline and processing facility. Other investors, including Papua New Guinea, landowner companies, local participating upstream companies, infrastructure funds, etc., will also have an opportunity to participate in the ownership of this infrastructure.

Providing useful resources, articles and writings on crude oil, other petroleum products, energy and gas. By O'Niel Petroserve Nigeria Ltd, online.

API celebrates 65th birthday of fracing

With birthday cards and a social media campaign, API celebrated the 65th birthday of the technology that has spurred an energy revolution in America - hydraulic fracturing or fracing.

“Americans have long been energy pioneers, from the 1800’s when the first wells were drilled to today,” said API Director of Upstream and Industry Operations Erik Milito. “As part of that history, on March 17, 1949, we developed the technology to safely unlock shale and other tight formations, and now the U.S. is the world’s largest producer of oil and natural gas.”

The birthday cards featured a black and white photo of one of the world’s first commercially fractured wells located in Duncan, Oklahoma.

“Thanks to fracing, we can produce more energy, with a smaller environmental footprint—changing America’s energy trajectory from scarcity to abundance,” said Milito. “This is a birthday worth celebrating.”

In 2012, unconventional resource development utilizing hydraulic fracturing increased disposable income by an average of $1,200 per household, supported 2.1 million American jobs, and contributed $284 billion to the U.S. GDP, according to a study by IHS. By 2025, IHS reports that unconventional drilling will support 3.9 million jobs, including 515,000 positions in manufacturing.

Providing useful resources, articles and writings on crude oil, other petroleum products, energy and gas. By O'Niel Petroserve Nigeria Ltd, online.

CGG, TAQA strengthen cooperation across the Middle East

CGG and Industrialization & Energy Services Company (TAQA) have signed a Framework Agreement which strengthens and extends their historical and long-term partnership in the Middle East. The new agreement provides a simplified, more focused structure to better address the growing industry demand for high-end seismic solutions throughout the region.

CGG and TAQA are currently shareholders of two Joint Ventures in the Middle East: ARGAS, a Saudi company established in 1966, covering geophysical activities in the Kingdom of Saudi Arabia (KSA), of which TAQA owns 51% and CGG owns 49%; ARDISEIS, a company established in 2006 in Dubai, covering land & shallow water data acquisition activities in the rest of the Middle East, of which CGG owns 51% and TAQA 49%. Through the Framework Agreement, ARGAS will become the sole shareholder of ARDISEIS, with ARGAS and ARDISEIS pooling all their resources to create a more efficient and powerful combined ARGAS Group. The new ARGAS group will have a stronger capital base, will cover a larger business scope, and will be 51% owned by TAQA and 49% owned by CGG.

Under the terms of the Framework Agreement, CGG and TAQA also extend their partnership to Seabed Geosolutions (SBGS), the Joint Venture addressing the seabed data acquisition market, which is owned 60% by FUGRO and 40% by CGG. In the same way as CGG will support the new ARGAS Group on all technological, industrial and commercial matters relating to land data acquisition, SBGS will provide similar support on all such matters relating to seabed data acquisition.

In addition, the Framework Agreement formalizes a strategic supplier agreement between SERCEL, CGG’s seismic equipment division, and the new ARGAS Group, aimed at mutually reinforcing the competitiveness of SERCEL and ARGAS and their respective positions in Middle East markets, which are set to see major growth notably driven by the mega-crews trend.

Jean-Georges Malcor, CEO, CGG said: “The Middle East will be at the heart of a technology revolution with ultra-high-channel-count crews and broadband technologies delivering previously unseen image definition to help our clients delineate and better utilize reservoirs in an optimum and sustainable manner. CGG and SERCEL technologies, from Equipment to Data Acquisition and Subsurface Imaging, are at the forefront of this revolution and we envision the new ARGAS Group, backed by its two shareholders, playing a leading role in this new paradigm.”

Mahmoud Abdulbaqi, Chairman, ARGAS, said: “The combination of ARGAS and ARDISEIS will provide the new ARGAS Group with a leadership position on the high-end land and seabed data acquisition markets across the Middle East. With its strong and experienced team, ARGAS will be able to fully benefit from the operational expertise of CGG and Seabed Geosolutions, as well as TAQA’s financial support and SERCEL’s latest technological innovations, to offer our customers in the region the best geophysical solutions.”

Providing useful resources, articles and writings on crude oil, other petroleum products, energy and gas. By O'Niel Petroserve Nigeria Ltd, online.