Business news for the week of 27 June 2011

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Spectrum agrees to US $23m 2D seismic acquisition deal with Seabird

21 June 2011—Spectrum has secured a significant 2D seismic acquisition capacity with Seabird for expansion of their multiclient library, together with a relet agreement for Spectrum's vessel, the GGS Atlantic.

As part of the continued growth of Spectrum's multiclient library, the company has now committed to the acquisition of 2D seismic data worth US 23 million over the next three years. This commitment is part of a signed frame agreement with SeaBird Exploration to draw on their worldwide seismic fleet. Acquisition costs to Spectrum will be fixed at competitive market rates.

This agreement will ensure the working partnership perpetuated by Spectrum and Seabird since Spectrum's Big Wave in the Eastern Gulf of Mexico that utilized Seabird's vessel the R/v Munin to acquire infill data for this flagship product.

Under the agreement the bareboat charter of Spectrum's own seismic acquisition vessel, the GGS Atlantic will be assigned to Seabird until August 2012 on the same terms currently enjoyed by Spectrum.


Spectrum completes new Adriatic multiclient project

21 June 2011—Spectrum has completed the reprocessing of approximately 9,000 km of regional 2D seismic data from the Italian sector of the Adriatic Sea on a multiclient basis.  The original surveys were acquired by the Italian government as part of a study to highlight the hydrocarbon potential of the Adriatic Sea. 

The majority of production in the region is from Pliocene age gas fields, many of which have multi-TCF reserves.  However, the deeper potential of the Adriatic has yet to be fully explored and this reprocessed data library, which shows many undrilled structures, should lead to a greater understanding of the hydrocarbon potential within the Adriatic Sea.

The reprocessing was carried out in Spectrum's processing center. The data are now available and have already triggered significant industry interest through the direct hydrocarbon indicators highlighted.


TGS signs agreement with Dolphin for joint 2D multiclient survey in Northwest Africa

23 June 2011—TGS has signed an agreement with Dolphin Geophysical to jointly acquire, process, and market multiclient 2D seismic data along northwest Africa.  The survey will total 25,000 km of long-offset seismic data in the offshore areas of multiple countries.  This program was based on the partnership's extensive geologic knowledge of the area.  Approximately 10,000 km of seismic data has been acquired to date using the M/V Artemis Atlantic and the remaining acquisition will continue into the second half of 2011. The data will improve the understanding of highly prospective areas along the northwest African Passive Margin and add to TGS' existing and continuous multiclient 2D seismic library along the African margin. Data processing will be performed by TGS and certain data will be available to clients beginning in late 2011, with the full program completed in 2012.


Pressure Study gives Nigeria improved deepwater capability

23 June 2011—The Niger Delta Pressure Study Phase One ‘Deep and Ultra Deep Water' is the first large-scale pressure study in Africa.  The Department of Petroleum Resources (DPR) announced the completion of the study, created by Ikon GeoPressure and Sonar Ltd.  It is sponsored by deepwater operators, Shell Nigeria Exploration and Production Company (SNEPCo), Total E&P Nigeria, Chevron Nigeria, Addax Petroleum Development Nigeria, Petroleo Brasileiro Nigeria (Petrobras) and Nigerian Agip Exploration, as a resource for the future of the Nigerian oil and gas industry.

The ‘Deep and Ultra Deep' phase provided DPR/NDR the opportunity to create a new database of 304 wells.  It comprises 94% of the exploration and appraisal wells in the area and was sourced from all deepwater operators. 

The analysis and compilation of these well data was carried out in Sonar's local office, over a period of nine months, by a team of five geologists from Sonar and Ikon GeoPressure. The result is a set of digital maps and reports, which will improve offshore drilling safety and enhance exploration opportunities for identifying additional hydrocarbon reserves in Nigeria.  Similar benefits are expected from the next phase of the project which will investigate the continental slope and onshore. 

The Niger Delta Pressure Study, Phase One ‘Deep and Ultra Deep' report and maps have been delivered to the DPR and sponsors.  The study is now available for purchase by other deepwater operators and their partners. 


New CFO, COO and senior management for Spectrum

23 June 2011—As part of the company's ongoing strategic growth plan Spectrum has announced strengthening of the executive management team with the appointment of a new chief financial officer (CFO) and the creation of a chief operating officer (COO) position.

Henning Olset has been appointed as the new CFO of Spectrum ASA with effect from 1 May 2011. Based in Oslo, Olset possesses more than 10 years of executive financial management experience. In his previous assignment Henning joined Staples in 2006 with the acquisition of Andvord Tybring-Gjedde ASA, where he was CFO. He was instrumental in the process of restructuring the company and in his period as head of finance, the Nordic business became one of the most profitable parts of the Staples organization.

Jan Schoolmeesters has been appointed COO of Spectrum. He possesses substantial experience in the seismic industry with both a technical, operational and commercial background. His latest position was with PGS as president of Asia Pacific. Schoolmeesters will be based in Oslo and will start in his new position as soon as possible.

The current CFO, Rhys Edwards will from the same date take the position as group commercial director. Edwards will be based in Woking, UK. In this new role he will be responsible for ensuring a consistent and commercial strategy for the group, supporting the Divisional EVP's on commercial matters and undertaking additional strategic projects.

Besides these additions to the executive line-up, Spectrum has also expanded its UK Multiclient team with the recruitment of Jim Martin and Alan Tidey. Both joined the company from senior positions at CGGVeritas. They take on the roles of vice president of business development and sales manager respectively.


EMGS awarded survey by Statoil

27 June 2011—Electromagnetic Geoservices ASA has signed a contract with Statoil to acquire high-resolution, full-azimuth 3D electromagnetic data for continued research purposes in the Barents Sea. The survey will be performed by the vessel Atlantic Guardian using densely sampled receiver grids, thereby providing high-resolution data.

Following the survey in the Barents Sea, which is expected to take approximately 12 days, the vessel will complete its campaign of back-to-back surveys with a work program in the North Sea before heading to the Americas.


CGGVeritas announces charter agreement with BOURBON

28 June 28 2011CGGVeritas announced that it has signed a five-year charter agreement with BOURBON for six new support vessels to assist its seismic operations. The new vessels will be delivered starting at the end of 2012.

The chartered vessels will support CGGVeritas seismic vessels during their survey operations around the world, by providing them with the requisite ancillary services including refueling, crew change, food and equipment delivery, storage, assistance, and support during in-sea maintenance operations. In addition, their unique hybrid propulsion will offer exceptional operational flexibility and low energy consumption.


Schlumberger Foundation receives US $50 million donation for flagship faculty for the future program

28 June 28 2011The Schlumberger Foundation announced today that it has received a US $50 million grant from Schlumberger Limited and its subsidiaries to support the Faculty for the Future program. This flagship program, now in its sixth year, supports talented women scientists from the developing world by helping them pursue advanced graduate studies in scientific disciplines at leading universities worldwide.

In 2011, the Schlumberger Foundation awarded Faculty for the Future fellowships to 53 women from 31 countries to continue PhD or postdoctoral studies in 18 disciplines including civil and environmental science, computer engineering, chemistry, physics, mathematics, and hydrology. In addition, 45 existing grants were extended for a further period. Successful applicants are selected for their leadership qualities and scientific ability with the program attracting a total of 631 applications in 2011, including 48 requests for fellowship extension.

After completion of their studies, Faculty for the Future fellows return to their home countries to contribute to economic, social and technological advancement through strengthening the faculties of their home institutions and serving as powerful role models for other young women.

Since its launch in 2004, 194 women from 54 countries have received Faculty for the Future fellowships for advanced graduate study at top universities around the world, and have become members of the active community of fellows. The new donation significantly reinforces the Foundation's ability to fulfill the growth potential of the program.


The International Association of Oil & Gas Producers (OGP) issues new guidelines for conducting offshore drilling hazard site surveys

29 June 28 2011The new Guidelines for the conduct of offshore drilling hazard site surveys describe good practice for conducting geophysical and hydrographic site surveys of proposed offshore drilling locations.  The document also covers the use of exploration 3D seismic data to enhance, or to replace, acquisition of a site survey.

The Guidelines explain the requirements that different types of offshore drilling units have on a site survey. The new report also emphasises the differing site survey requirements of shelf and deep-water environments.

The new Guidelines summarise the objectives of site surveys, the site survey process, and provide suggestions on all the phases of a site survey.  These include initial desk studies and planning, data requirements and geohazard analysis and reporting.

Associated technical notes, to be published separately later this year as OGP Report № 373-18-2, will provide supporting technical information and background theory on the various phases of a site survey project and on the vessels and equipment used to acquire site survey data.

The new Guidelines result from an extensive review and update of previously published work by UKOOA (now Oil & Gas UK). This review has been undertaken by a workgroup comprising representatives of OGP's Geomatics Committee, as well as representatives from the marine survey industry and has resulted in a new, completely revised document.

The Guidelines are applicable for the conduct of offshore drilling hazard site surveys.  While the document does not set out to directly address planning and delivery of other types of survey projects, the techniques described may also be applied to other types of seabed surveys, such as pipeline or cable route surveys, etc.

Copies of the Guidelines can be downloaded free from the ‘Publications' section of www.ogp.org.uk as OGP Report № 373-18-1.


OGP & IMCA issue new guidelines for GNSS positioning in the oil & gas industry

28 June 28 2011After an extensive review and update, the International Association of Oil & Gas Producers (OGP) and the International Marine Contractors Association (IMCA) have issued revised guidance for the use of GPS.OGP's Geomatics Committee and IMCA's Offshore Survey Division Management Committee were responsible for the work, based on a 1994 document produced by the UK Offshore Operators Association (now Oil & Gas UK).  Representatives from the marine survey industry were also involved.

The new Guidelines for GNSS Positioning in the Oil and Gas Industry reflect the pervasive nature of the technology and the fact that GNSS is no longer specifically for the offshore industry. Though titled for use in GNSS surveying and positioning-related activities for the oil and gas industry, it could also be applicable to similar operations in the service of renewable energy, telecommunications and engineering projects both offshore and onshore.

The new Guidelines consist of seven sections.  These include: an introduction summarizing the global navigation satellite systems available and the observables; the relative and absolute positioning systems and techniques available; and updated coverage of the augmentation services that can be had from a variety of providers.  Practical guidance is provided in sections dealing with installation and operation issues, geodetic considerations and atmospheric and other environmental influences.

Importantly, the new Guidelines retain recommended measures for assessing the quality of GNSS position fixes. The section on quality assessment and statistical testing includes examples and provides a comprehensive overview of the recommended statistical testing and quality measures based on the so-called Delft method.

Associated sections cover the recommended competence of operators and users as well as the various common data formats used for the exchange of positioning data. Copies of Guidelines for GNSS Positioning in the Oil and Gas Industry can be downloaded free from www.ogp.org.uk or www.imca-int.com. Others, including training providers, libraries or other groups or individuals wishing to purchase printed copies can do so through the IMCA website.