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$1 billion for 85 million more barrels. HMMmmm!!
US $1 Bn second phase for West Franklin
Posted 30.11.2010 11:33:40 av John Bradbury
Total has kicked off a second phase development of the high pressure and high temperature West Franklin field in the UK sector of the North Sea which will target another 85 million barrels of reserves.
Total indicated today it is planning to spend in the region of US 1 Bn on this new second phase which follows on from appraisal drilling two years ago which the operator says more than doubled the field's reserves.
Three new wells and a new platform are planned as part of the second phase project which is due to come onstream in 2013. Britain's Department of Energy and Climate Change has just approved the project, which should see production of 40,000 boe/d by the end of 2013.
“West Franklin Phase 2 is another significant development for Total and reinforces our presence in the North Sea,” declared Patrice de Viviès, senior vice president for Total E&P in northern Europe.
“It will contribute to maintaining our production level on the UK Continental Shelf and to expanding the life-span of the Elgin/Franklin hub,” he added.
Total operates Elgin Franklin through Elgin Franklin Oil & Gas and other field partners are BG Group, Chevron, GdF Suez, Eni UK, Esso, E.On Ruhrgas, Dyas, and Summit Petroleum.
http://offshore.no/international/
I remember saying i disagree with your post, i do not remember or believe we entered into a bet. So,if there is no announcement by 1-1-11 you can "rub my noise in it", but it better not smell bad. LOL!
snayeman.....I have had very little direct contact on this MB with MZ. I do not recall making that wager. He needs to refresh my memory by posting proof. Until then assume i never said buyout by year end.
snayeman....First you and others need to define who "they" is/are. Hint it is not management. Management plans have been the results of that familiar " unintended consequences" of the govt. alphabet gang. What do you think was the plan for the company back in 2001 when SEO bot control?
MT.... You have not been hearing from me for only a few months. You are clueless and hopeless. I'm done with your "pure genus". How you have so many people fooled, i'll never understand.
MT....You are really not thinking outside the box. Management and the the plan are not one and the same.
MT....You have completely lost it. YES there has been a plan in effect since 2001. Count on it. Or not. Whatever, makes no difference to me.
sidewinder.. and others.... The raid was a serious attempt by enemies to wreck ERHC's rights. IT resulted in a changed management plan and govt. oversight, but not in change in the ultimate plan for the company. My opinion.
MT.... It would be as you say 'cut and dry", if the wells were dry, but they were not.
Some of you have not even begin to understand the dynamics in this situation. They are far different than the ordinary BB E and P company. Because of the failure to understand many will be surprised at the outcome. Hint the raid changed everything, but the plan has not been changed since 2001. All MY opinion.
texsun...Agree.
But that raises the question, when will
~~~~~~~~~~~~~~~~Somebody know somethin?~~~~~~~~~~~~~
Soon.
or
~~~~~~~~~~~~~~~~Anybody know anythin?~~~~~~~~~~~~~~~~
Yes.
LOL!
Well, we have people here everyday making up crap and tossing it out as opinions. But i get deleted for telling the truth. Now ain't
that special. LOL!!!
amen
China's natural gas demand to exceed supply by over one-third in 2011
15:25, November 22, 2010
China's demand for natural gas will exceed its supply by 35 percent in 2011, Yin Jianping, a professor at the School of Business Administration under the China University of Petroleum, said at the first China Energy Forum jointly held recently by the Chinese Academy of Engineering and the National Energy Administration.
Yin said that China's demand for natural gas will maintain rapid growth in the coming decade, and its annual consumption will exceed 150 billion cubic meters by 2015 and 200 billion cubic meters by 2018. The country's demand for natural gas has outstripped its supply since 2008. It is estimated that China's energy supply-demand gap will increase from 38 billion cubic meters in 2015 to 110 billion cubic meters in 2021, and the natural gas supply-demand gap will grow accordingly based on forecasts of the gas supply and demand.
Huang Hui, an expert from the Research and Development Center of the CNOOC Gas and Power Group, said that lack of supply is the root cause of the huge gap, but given the enormous natural gas resources, China still has great potential for the exploration and development of natural gas.
Huang said that according to the third national oil and gas assessment, China has 53 trillion cubic meters of natural gas reserves, with the estimated recoverable reserves amounting to 14 trillion cubic meters. Furthermore, China is also very rich in unconventional natural gas, including nearly 27.4 trillion cubic meters of coal-bed gas, and the natural gas hydrates in the South China Sea alone are equivalent to 700 billion tons of oil.
However, China lacks key technologies that can help turn its large resources into large output, so the three domestic oil giants should strengthen efforts to develop related technologies and introduce liquefied natural gas to ease the natural gas supply pressure in the eastern coastal areas.
By People's Daily Online
Total Takes Slice Offshore Malaysia
Total S.A.
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Friday, November 19, 2010
change text size
Total announces that it has signed an agreement with the national oil company Petronas to acquire a 85% interest in the Block SK317B, offshore Malaysia. Under the terms of the agreement, Total will operate the Block alongside its partner Petronas Carigali holding the remaining 15% interest.
The Block SK317B is located around 100 kilometers offshore Sarawak, in water depths ranging from 200 to 1,000 meters. It covers an area of more than 700 square kilometers. The work commitments during the exploration period encompass seismic data acquisition and deep offshore exploration drilling, an area in which Total enjoys a recognized expertise.
"This acquisition reflects Total’s strategy to expand its exploration acreages in new areas or on new themes while developing its partnerships with national oil companies such as Petronas," stated Jean-Marie Guillermou, Senior Vice President Asia-Pacific at Total Exploration & Production.
Total E&P Malaysia
Total is already present in Malaysia with a 70% interest together with Petronas Carigali (30%) in a Production Sharing Agreement signed in 2008 which covers the Block PM303 and PM324, located offshore Peninsular Malaysia. Total operates these two blocks where a seismic campaign was shot in 2009 and where a high-pressure/high temperature exploration drilling campaign will start in 2011.
vinnybotz....Agree!!! Nice photo! Is that you?
Old story but interesting reference to Total.
"Umar said French firm Total for some reasons he could not explain, decided not to bid. Total was one of the companies known to have, before the bid process commenced, been striving to gain advantages for the bloc offer."
http://news.biafranigeriaworld.com/archive/2003/nov/04/054.html
me too...Amen.
35 sands in 5 wells unaccounted for by ERHE and operators. Same sands found found to be very productive in akpo and others just a few miles away. Please read.
Modern seismic data and improved models of sand distribution indicate that in places prospective acreage can extend up to 300 km from the present-day coastline of Nigeria. Extensive regional 2D and 3D multi-client seismic data shot by a number of seismic contractors provide a high quality regional dataset that has enabled unprecedented insight into the tectono-stratigraphic evolution of the Niger Delta and especially the deep-water province. The total sedimentary prism, an area of some 140,000 km2, has a maximum stratigraphic thickness of about 12 km.
The principal trapping scenarios for each domain are conceptualised on the schematic section. The shale diapirism zone, on the present-day upper slope, has proven prospectivity (Bonga, Aparo and Usan fields). Basin ward, the zone of relatively minor structuration, is highly prospective (the Agbami and Akpo fields are just two examples) and extends into the northern blocks of the JDZ. The frontal toe-thrust zone has much potential as evidenced by DHI and flat spots, and the zone of frontal deformation on the present-day lower slope and continental rise is as yet untested.
http://n-stpjda.com/geo.asp
To All.... According to ERHC's website the 5 wells in the JDZ targeted A total of 50 different individual sands ,and biogenic gas was found in 15 different sands. That means a full 70% of the sands are unaccounted for,and some here prefer to believe they found NOTHING in these sands. I think one has to be brain dead to believe this. My opinion is wake up and think. These are the same sands where the oil ministers of both countries were told by the operators that gas and oil was found.
30....We sure have a lot more UPSET than we have GREED on this MB. LOL!!!!
Well, we all know that oil companies never lie, now don't we????
Check out that 5Th one. Don't believe they ever said it did not have oil in their PR's.
30..... Now don't go trying to cause me to get the "bighead" by talking like that. LOL!!!! Beside it will only upset the the kids playing here on a beautiful Sunday afternoon.
pepsi....I suspect he is part of the Mark, Ruby,Art, gang. I know who their source was and i strongly believe he was and is wrong about the drilling results.
jcanada....Take my word for it. There is oil.
snayeman....Do not know the agenda. But it is time. My opinion.
Spec....I Agree. My Opinion.
deadeye....Disagree again. 5 wells have given them enough information about what is there to set a very fair value for ERHE. I will agree that value could be much more 5 years and a hundred well later. But the present worth based on present known { to the operators} results will be substantial. My very Considered opinion.
mid....I disagree. This company will be sold based on the value of the reserves. Period. There is a huge disconnect between the value and the price because of a few posters and others spreading the "gas only and not much of that" crap. There are clues all over the place that this is false, but no one will believe it until the report is released. My very considered opinion.
snayeman.....Should hear something soon. BOD meeting due within the next several days. Mid may get his letter answered. Ha Ha!!!!
You did. 'pure genius"
jcanada....There is oil.... several clues for those who look. My opinion.
Tullow has 83% sucess rate in GOG. Why are they so much better than SNP? Some would have us believe we have 5 dusters? LOL!!~
Owo confirmed as major find
Published 10.11.2010 09:59:08 by John Bradbury
Tullow Oil confirmed today that the Owo 1 well drilled offshore Ghana is regarded as a major new oil discovery.
In an interim statement today – required under a European Union Transparency Directive – Tullow said the Owo 1 sidetrack well “..confirmed Owo as a major new light oil filed offshore Africa...potentially the largest in Africa since Jubilee.”
Success at Owo contributed to an 83% success rate for Tullow from 24 wells.
Meanwhile the Jubilee phase 1 development is on track to come onstream next month, Tullow indicated, and the field is expected to deliver 50,000 b/d of oil, ramping up to 120,000 b/d within three months.
http://www.offshore247.com/news/art.aspx?Id=17843
Total agrees to sell to Perenco its exploration and production interest in Cameroon
November 10, 2010: Total announces having finalized an agreement in principle with Perenco, an independent exploration and production French company, to sell its 75.8% equity in its upstream affiliate Total E&P Cameroun, a Cameroonian company which other shareholders include the national oil company – SNH (Société Nationale des Hydrocarbures – 20%) and Paris Orléans – Groupe Rotchshild (4.2%). This agreement is subject to the Cameroonian Authorities’ approval.
Today, production from the mature fields operated by Total in Cameroun reaches 40,000 barrels per day (b/d), which represents an equity production of 8,000 b/d, or 0.3% of the Group’s total production
“Perenco, the company with which Total has finalized this agreement is already present in Cameroun as an operator and a SNH long time partner. It has demonstrated its competencies in optimizing mature fields, has developed new reserves off the coast of Kribi and is currently working on a project to enhance gas value. With this experience, Perenco is set to successfully pursue the exemplary cooperation developed by Total with SNH over decades. Synergies between Perenco’s exploration and production operations and Total E&P Cameroun activities will allow Perenco to optimize its industrial tool while ensuring its activities are pursued over the long term. Perenco’s offer is respectful of commitments taken by Total towards its employees and the authorities”, said Jacques Marraud des Grottes, Senior Vice President Africa, Exploration & Production. “Being also present in refining and distribution, Total intends to remain an actor of the Cameroonian oil industry and will maintain its refining activities as well as its distribution network of oil products in the country”.
Total is active in refining through its 19.7% interest in Sonara, the national refining company, and in oil crude storage with a 18% interest in the “Société Camerounaise de Dépôts Pétroliers”*. Furthermore, Total’s affiliate Total Cameroun SA is the leading distributor of oil products with 160 service stations, representing 45% of the market. The selling of Total’s interest in Total E&P Cameroun does not concern these downstream activities.
Total Exploration & Production in Africa
In 2009, Total’s equity production in Africa averaged close to 749,000 barrels of oil equivalent per day, accounting for 33% of the Group’s total production.
Deepwater developments are one of Total’s main growth areas in Africa. After Akpo, development of the Group’s second deep offshore project in Nigeria, the Usan field on the OML 138 permit, began in early 2008, with production scheduled to start up in 2012. In Angola, the Pazflor project, third deep offshore development hub on Block 17 after Girassol and Dalia, pursues its development for a production start-up in 2011; the CLOV project, a fourth development hub on that same block, has been launched in 2010.
Africa is one of Total’s main production growth focuses. Most of its exploration and production operations, mainly located in Gulf of Guinea countries an in North Africa, have increased in recent years with Total’s entry in exploration permits in new countries, such as Mauritania, Madagascar, Egypt and Côte d’Ivoire.
*Cameroonian Company of Crude Oil Storage
http://www.total.com/en/about-total/news/news-940500.html&idActu=2478
farviewhill...there is oil and you are on the path that will be traveled. My opinion.
Strass...Give it up...Most do not agree with you and HP. If you can't say something good, don't say anything. You went way past an opinion with this post. My opinion.
king.....Yes. Thanks. The question is when will the "further analysis" show OIL also?
Me Too!
If you are not in now, your money making off this one may be over. The amj post about Oki East being a new discovery is big news.My opinion.