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could be a world class discovery
The Deepsea Bollsta looks to be on location to drill the LESEDI-1 for Shell. The Deepsea Mira is currently in Walvis Bay loading up before heading out to start flow testing for Total energies.
Additional comments from upstream article, Hot copper jibbybagger: Upstream was told earlier this month that Venus-1A, which began drilling in early March, was in the reservoir and results to date are promising, according to two people with knowledge of the drilling operation. “They are in the reservoir,” said one source, while the second person said “the well has come in on target” — a comment that implies the geology and the reservoir have met pre-drill expectations.
Vantage Drilling’s Tungsten Explorer will not carry out a flow test on Venus-1A, with this operation instead left to Odfjell’s drillship Deepsea Mira, which is due to arrive in Walvis Bay on Monday, according to marine intelligence provider VesselsValue. Before carrying out a flow test on Venus-1A, however, the Deepsea Mira will carry out production tests on the Venus-1X discovery well. Once the Tungsten Explorer wraps up Venus-1A, it will head west to spud and possibly test the Nara-1 probe, targeting what could be a huge extension of Venus.
One person familiar with the drilling campaign in Namibia, told Upstream that if the western extension of Venus meets expectations, then a development could involve multiple floating production, storage and offloading vessels. “If (Nara) is as big as it appears to be, then it could require up to six or seven FPSO’s,” each with a capacity of at least 180,000 barrels per day.
Maggy Shino, Namibia’s Petroleum Commissioner, has suggested that the recoverable reserves discovered in Venus to date stand at about 2 billion barrels. However, one informed source said this figure “probably” applies to the “main” part of Venus in Block 2913B, and not its potential extension into Block 2912."
The latest from Total energies...
Positive signs in Namibia: TotalEnergies chief executive Patrick Pouyanne.Photo: REUTERS/SCANPIX
‘On target’: TotalEnergies’ critical well on major Namibia discovery hits reservoir
Sources tell Upstream that initial results from Venus appraisal well met expectations, boosting probability supermajor has huge field on its hands
22 May 2023 11:51 GMT UPDATED 22 May 2023 11:57 GMT
By Iain Esau in London
TotalEnergies has hit reservoir with a critical appraisal well on its huge, alluring Venus oil discovery offshore Namibia, with Upstream told the probe has met expectations.
Venus — and Shell’s earlier Graff discovery — generated huge excitement when it was found last year in Block 2913B of the Orange basin, with market speculation emerging at the time that it could hold 12 billion barrels of oil and many trillions of cubic feet of gas.
Curiosity of V10 from Hot copper board: ENERGY NEWS BULLETIN, 17 May 2023
Woodside hopeful of Namibian play following recent discoveries
WOODSIDE Energy Group chief Meg O’Neill told Energy News at the APPEA Conference 2023 in Adelaide that recent oil discoveries offshore Namibia could be just the beginning of a wave of investment in the region.
The oil and gas giant signed an option agreement with ASX-listed minnow Pancontinental Oil & Gas recently, giving it the right to acquire a majority 56% interest in offshore block PEL 87 offshore Namibia.
The permit is located north of the 2022 Venus discovery - which was declared the largest ever deep-water oil find in Sub-Saharan Africa by analysts.
Speaking to Energy News on Tuesday, O'Neill said the company was hopeful of a seismic campaign being undertaken across the block and said offshore Namibia was highly prospective for the company.
Woodside recently expanded the campaign to 7200sq.km. The campaign is underway and should be finished next month.
"When we think about our exploration business we want to make sure that it does a few things, first off that it strategically meets where we want the business to go," she said.
"The real imperative for exploration is we've got to be exploring for things that we can commercialise rapidly."
When the move was first announced it left industry watchers scratching their heads given Woodside's recent insistence frontier exploration and elephant hunting is off the table.
Late last year O'Neil maintained exploration would be targeted and close to existing operations that could offer tie-back options, such as within its Gulf of Mexico portfolio.
"Where we explore needs to be with a clear pathway to commercialisation...the oil industry has a track record of technical success and the commercialisation side takes tremendous time," she said then.
The Orange Basin has been home to some stunning oil discoveries in recent years but all are at the very earliest stages of development.
Woodside is paying for the full cost of the seismic survey estimated US$35 million in exchange for the option to join Pancon in the future. If it exercises its option it will carry the junior's drill costs.
On the broader potential of the basin, O'Neill noted that recent discoveries including Venus may just be the start for the African nation.
"Namibia is a country that, in the offshore, has been underexplored, but there were a couple of quite significant discoveries in the last few years," she told Energy News.
"We think the prospectivity is broader than that, and that's why we entered that agreement with Pancontinental."
yeah, well the MM's want the yanks to pay Aussie $. 0.01 aus is 0.00668US. Oh well just glad to see things are moving in the right direction. Good day
Thanks Ebenezer3 for posting these updates.
Woodside increases seismic to 7200 sq km: https://www2.asx.com.au/markets/company/pcl. Scroll down to announcements for company update.
Like a train’: Oil flows at super-charged rate from Shell’s ground-breaking Namibia probe
Sources said news bodes well for commerciality, but challenges remain
12 May 2023 10:26 GMT UPDATED 12 May 2023 11:18 GMT
By Iain Esau in London
Southern Africa’s exploration circles are abuzz with talk of Shell achieving super-charged oil flow rates from production tests it has been running on its ground-breaking Graff-1x discovery well offshore Namibia.
Namibia is probably the world’s top exploration hot spot, as two discoveries by Shell — Graff and Jonker — and TotalEnergies’ Venus find pave the way for a surge of industry interest in the long-neglected Orange basin and set the scene for what could be at least three major projects.
Galp looking to drill Pel-83 which is just south of Pel-87 in the 4th quarter 2 well drill with an option to flow test: SFL Bags $50M Contract for Hercules Offshore Drilling Rig
Friday, May 5, 2023
Credit: Hans Hausmann/MarineTraffic.com
SFL Corporation Ltd. has signed a $50 million contract with a subsidiary of Portugal's Galp Energia for the deployment of harsh environment semi-submersible rig Hercules in Namibia.
The contract is for two wells plus optional well testing and is expected to start in the fourth quarter of 2023. Without any options, the duration is approximately 115 days, including mobilization to Namibia.
The Hercules is currently undergoing its special survey in Norway before its mobilization to Canada for a contract with ExxonMobil, before starting transit to Namibia.
Ole B. Hjertaker, CEO of SFL Management AS, said: "We are pleased to announce this follow-on contract for the Hercules, which will keep the rig continuously employed until the end of the first quarter of 2024. The new contract illustrates the attractiveness and versatility of the Hercules as a harsh environment oil exploration and development rig for the international market. With increasing demand and few available drilling rigs with Hercules’ capabilities, we see additional upside in day rates and contract term from 2024 onwards”.
Kjetil Gjersdal, Chief Executive Officer of Odfjell Drilling, a company responsible for management and marketing of the rig:"“Since taking on management and marketing for the Hercules, we have worked tirelessly on facilitating the vessel being ready for operations in Canada while
also working to secure work after this. Agreeing this contract with Galp Energia, the third contract for work in Namibia we have agreed within the last year, is very exciting for our company and we look forward to working with SFL and Galp Energia to meet expectations safely and efficiently.”"
PriceSensitive
Pancontinental Energy (ASX:PCL) more than halfway done with major 3D seismic survey, offshore Namibia
ASX News, Energy
ASX:PCL MCAP $75.54M
Bianca Gimondo
Markets Reporter
bianca.gimondo@themarketherald.com.au
18 April 2023 11:20 (AEST)
The Ramform Titan. Source: Pancontinental Energy
Pancontinental Energy (PCL) has gathered more than 50 per cent of the data from a major 6872-square-kilometre seismic survey in offshore Namibia
The company is conducting the survey using Petroleum Geoservices’ Ramford Titan survey vessel for “extremely high-efficiency data acquisition”
PCL says it expects to complete the survey by early June 2023, with early fast-track results to be available before the end of August
PCL Director Barry Rushworth says the company believes the results will confirm that its Saturn Turbidite Complex is one of the largest prospective deep-water turbidite complexes in Africa
Shares in PCL are up 10 per cent and trading at 1.1 cents at 11:00 am AEST
Pancontinental Energy (PCL) has gathered more than 50 per cent of the data from a major 6872-square-kilometre seismic survey in offshore Namibia.
The company is conducting the survey using Petroleum Geoservices’ Ramford Titan survey vessel for “extremely high-efficiency data acquisition”.
The Ramform Titan vessel is also gathering extensive magnetic and gravity data that can be used to better define the basin architecture.
PCL said it expected to complete the survey by early June 2023, with early fast-track results to be available before the end of August.
The work is being completed across PCL’s PEL 87 exploration licence, which is home to the Saturn Turbidite Complex.
PCL Director Barry Rushworth said the company believed the results would confirm that its Saturn Turbidite Complex was one of the largest prospective deep-water turbidite complexes in Africa.
“The prospectivity of the basin has been reaffirmed by TotalEnergies’ and Shell’s ongoing oil discoveries,” Mr Rushworth said.
“We are situated on-trend and at the same geological level as these discoveries, with Saturn likely to host multiple internal and independent traps and stacked reservoir opportunities.
“We are well advanced with the high-impact 3D survey over our Saturn Turbidite Complex and anticipate that the resulting data will confirm our belief of its significant oil potential.
“We believe Saturn to be one of the largest prospective deep-water turbidite
complexes around the African continent.”
PEL 87 was awarded to a joint venture led by PCL in early 2018 for up to three terms over eight years and can be converted to a Production Licence under pre-agreed terms.
Shares in PCL were up 10 per cent and trading at 1.1 cents at 11:00 am AEST.
Seismic 50% complete with the remainder to be completed by June, first results by August. https://www2.asx.com.au/markets/company/pcl
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