Business news for the week of 5 April 2012 News section front Past news briefs Seismic crew survey reports

Uruguay Round II: BP, BG, Total and Tullow Oil awarded offshore blocks

30 March 2012—ANCAP received 19 offers for offshore oil exploration and production in eight of the 15 offered blocks, by nine of the 11 oil companies qualified for the bidding process. There was competition between three or more companies in five of the blocks offered. More than 50% of the area from the bidding process will undergo exploration by four new companies (the British companies BP and BG, the French company Total and the Irish company Tullow Oil) that adds to the work already being done by Petrobras, YPF, and GALP in the Uruguayan offshore.

Blocks from the three Uruguayan offshore basins were awarded: the basins named Oriental del Plata, Punta del Este, and Pelotas. The last received particular interest from the oil companies.

After the assessment of the winning bids and the approval of the Uruguayan government ANCAP will sign the contracts with the winning companies.

 

Satellite mission promises renaissance in gravity data for petroleum exploration

4 April 2012—GETECH, a UK-based petroleum and minerals consultancy, has begun an industry-funded research study to enhance the resolution of satellite-derived gravity data used in the search for hydrocarbon-bearing structures under the world's oceans and seas.

The nine month R&D study will determine how, and to what degree, the advanced ocean measurements from the three-cycle polar geodetic mission (2011-13) of the CryoSat-2 satellite (with data provided by the European Space Agency, ESA) can improve the accuracy, resolution, and reliability of satellite derived gravity. Such gravity data are being used routinely by the oil industry for exploration of the world's continental margins.

The success of the R&D study will pave the way for a global study by GETECH, commencing in early 2013, to map all the world's continental margins out to 500 km from the shore lines. This global study will include data from the NASA Jason-1 oceanographic satellite, subject to it going into geodetic mission mode in 2013.

One year of data from CryoSat-2 will provide ~50% additional data on top of that available from previous satellite missions.  The near-polar orbit will generate tracks with different orientations that will infill existing data coverage. CryoSat-2 is acquiring data with a new SAR (synthetic aperture radar) system, which promises improved accuracy over some key areas of the world. 

The R&D study will refine the methodologies and algorithms used previously on the GeoSat and ERS-1 data to handle the two altimeter data types being collected by CryoSat-2. Four test areas have been agreed in the Caspian Sea, Barents Sea, north Brazil margin and north Colombia/Venezuela margin to check on the resolution of the data by comparison with high-quality terrestrial shipborne data.

 

Further agreement signed to acquire additional 
long-offset 2D data

4 April 2012—Dolphin Geophysicalsigned an agreement to acquire an additional 2D multiclient survey over recently designated deep-water blocks soon to be offered to industry for licensing.

These new long-offset 2D data will form part of the ongoing NWAAM project commenced last year. Data will be processed in the UK by Dolphin's Partner in the project,TGS, which will also integrate these new lines with the regional interpretation work already in progress. Following the completion of this, road-show seminars scheduled in London and Houston later this summer where representatives from each the government will be present to promote available acreage as well as hold private discussions with interested companies. 

Acquisition of these new AGC lines is already underway and scheduled for completion by mid-April. These additional data of about 1800 km will make the total for the NWAAM project to date around 17,000 km from northern Senegal to southern Guinea Conakry. 

 

Dolphin Geophysical christens M/V Polar Duchess

4 April 2012—Dolphin Geophysical AS christened the M/V Polar Duchess at Vågen, Bergen on 30 March 2012. Many attended the special occasion, which launched the sistership to their flagship vessel.

M/V Polar Duchessis a purpose built high-end 3D vessel, capable of towing 14 streamers at 100-m separation.

Polar Duchessis already contracted to TGS and will commence a survey in the Barents Sea imminently.