By: ruby1100
25 Nov 2004, 08:12 PM EST
Msg. 77239 of 102200
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UPSTREAM - Nigeria seismic targets in sight
Backlog means raft of survey tenders in the works despite higher prices
00:02 GMT
A build-up in seismic activity is expected in Nigeria from currently sluggish levels, despite such work having climbed by 20% this year, according to contractors.
Upcoming surveys awaiting tender include a batch for Total in OPL-221, Ocean Energy (OPL-242), ChevronTexaco (OPL-247) and oil parastatal subsidiary Nigeria Petroleum Development Corporation (OML-119). In addition Total expects to contract proprietary seismic for the Egina prospect on OPL-246, and possibly also over the Preowei prospect.
Seismic returns in Africa are under pressure from activity in the Asia-Pacific region where the market currently sustains higher dayrates. The shorter working season in Asia compares to West Africa's potential to deploy boats all year round.
In the Joint Development Zone managed between Nigeria and neighbouring Sao Tome, five of the blocks have no seismic at all and this will likely be remedied next year.
With swathes of non-exclusive deep-water 3D under its belt already, Petroleum Geo-Services (PGS) is looking ahead to Sao Tome's decision to license its Exclusive Economic Zone.
The company has no immediate plans for acquisition but is keen to extend its existing 3000 square-kilometre survey and anticipates the bulk of tenders to be for proprietary work. PGS needs pre-funding for the project and awaits the interest of participants.
PGS has completed its multi-client survey for exploration blocks 315 and 314 off the Benin Embayment and expects processing for OPL-314 to be complete within a month.
PGS' seismic vessel Ramform Challenger aims to finish off its 3D seismic survey for Vanco Energy off Madagascar this week.
Back in Nigeria there is a general dearth of vessels available for work.
A Ramform vessel has been earmarked for ExxonMobil's high-density 279 square-kilometre sweep of OPL-209 and the company expects to land ChevronTexaco's 'transition zone' work covering OMLs 86 and 88, including the Okan field complex and several other outlying structures. The Transition Zone job is slated for mobilisation next month and should provide some nine months' work costing $50 million.
barry.morgan@upstreamonline.com
AI
