Business News for the week of 8 August 2012

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Seismic crew survey reports

EMGS wins 3D EM contract in Asia

8 August 2012—Electromagnetic Geoservices ASA (EMGS) signed a contract worth approximately US $7 million with a major international oil company to provide 3D EM acquisition and processing services in the Asia Pacific region. Data acquisition will be performed from the vessel EM Leader and is expected to commence in early September.

 

University of Arizona Engineering gets US $23M in software from Schlumberger

7 August 2012—The University of Arizona College of Engineering has received a software license valued at $23 million from Schlumberger.

Schlumberger granted the multiyear license to the UA College of Engineering's department of mining and geological engineering. Schlumberger's software is used widely throughout the oil and gas exploration and production industries, but its application in the mining industry is less common.

 

Dolphin—joint cooperation 3D multiclient seismic survey to be acquired in the Mediterranean

17 August 2012—Dolphin announced a new 3D multiclient survey in cooperation with Spectrum to be acquired by the high capacity seismic vessel, M/V Polar Duke. The survey is located offshore Lebanon and will have a minimum size of 1500 km². The acquisition is scheduled to finish within September, and the data are planned to be available to clients before year-end 2012.

 

EMGS awarded major 3D EM contract in Asia

17 August 2012—Electromagnetic Geoservices ASA (EMGS) has received a letter of award for a contract worth approximately US $20 million from a major international oil company to acquire 3D electromagnetic data offshore Brunei. Data acquisition will be performed from the vessel EM Leader with start-up in late 2012.

 

Ingrain awarded major contract to characterize Colombian repository core

14 August 2012—Houston-based digital rock physics lab Ingrain has been awarded a contract by the Colombian government's National Hydrocarbons Agency (ANH) to digitize and characterize the high volume of core they have in storage.

Ingrain will characterize thousands of meters of whole corecurrently being stored at ANH's National Core Repository (Litoteca Nacional de Colombia). This project will also create a digital database that will make the data readily accessible and preserve important information of the core for future use.  

ANH is the Colombian government's institution responsible for the promotion and development of the country's hydrocarbon resources through an integrated management approach that harmonizes the interests of the society, country, and the companies of the sector.

 

USC-headquartered consortium to research energy production seismic hazards

27 July 2012—The USC Energy Institute (USCEI) announced the establishment of a new cooperative research effort, the Induced Seismicity Consortium(ISC). The consortium, sponsored by oil and gas producers and service companies with the involvement of regulatory agencies, national laboratories, and environmental groups, will be taking the lead in studying and answering questions about seismic risks involved in new energy production techniques.

 

TGS commences expansion of multiclient 2D database in northeast Greenland

16 August 2012—TGS has commenced expansion of a 2D multiclient survey covering 3000 km in northeast Greenland in partnership with Fugro. The survey, NEG12, will enable customers to prepare for the announced Greenland Licensing Round in 2012/2013. With this year's data acquisition, TGS will be able to offer approximately 7500 km of multiclient 2D data, a large volume of reprocessed multiclient 2D data, and full coverage of aeromagnetic/gravity data over and adjacent to the basins that are included in the announced licensing round.

The seismic data are being acquired by the M/V Akademik Shatskiy supported by the icebreaker M/V Viking Balder. A helicopter is being utilized for ice density monitoring. The survey is scheduled to finish during late 2012. Data processing will be performed by TGS and data will be available to clients before the 15 December application deadline of the first licensing round in these waters.

 

TGS announces a fourth 3D multiclient seismic survey offshore northwest Australia

20 August 2012—TGS announces a 3D multiclient seismic survey, Honeycombs, which covers 2500 km² over the Exmouth Plateau in the Northern Carnarvon Basin, offshore northwest Australia. This survey is located over acreage with 50% relinquishment due in February 2013 and is adjacent to the previously announced NW Australia survey (Mary Rose) in October 2011. Upon completion of this survey, the TGS portfolio of 3D multiclient coverage in this highly prospective area offshore Australia will exceed 17,000 km².

The seismic data will be acquired by the M/V Ramform Sterling and are expected to begin in September 2012 with completion in late 2012.

 

Construction begins on newest ocean research ship

16 August 2012—Senior officials from the Woods Hole Oceanographic Institution (WHOI) joined the U.S. Office of Naval Research (ONR) at a ceremony 17 August to mark the beginning of construction on the high-tech, ocean research ship AGOR 27, which will be operated by WHOI.

During the traditional ceremony held at Dakota Creek Industries shipyard in Anacortes, Washington, the first pieces of steel comprising the keels for two new research ships funded by ONR—AGOR 27 and AGOR 28, which will be operated by Scripps Institution of Oceanography—were authenticated with the keel certifiers' initials.

WHOI currently operates two ocean-going research vessels, a coastal vessel, and several small craft. In addition, WHOI operates the National Deep Submergence Facility (NDSF) that currently includes the human occupied submersible Alvin, the remotely operated vehicle Jason, and the autonomous underwater vehicle Sentry. Experience gained from the operation of these assets has given the Institution unique expertise in operating and maintaining seagoing research facilities. 

 

Lebanon multiclient 3D survey announced by Spectrum

16 August 2012—Spectrum will acquire a new multiclient 3D seismic survey in the Levantine Basin offshore Lebanon. Under contract to the Ministry of Energy and Water (MEW) of Lebanon, Spectrum is acquiring the MC3D survey in the southwest Exclusive Economic Zone offshore Lebanon. The survey is carried out in cooperation with Dolphin Geophysical using their Polar Duke vessel, which will acquire at least 1500 km² of data using 12 streamers and dual source. This is the first phase of a project that will incorporate up to 3000 km² when completed. The study area is ranked as "high prospectivity" as defined by Beicip Franlab following their study conducted on behalf of the MEW.

 

Rio Grande enters into letter of intent with Snowcap Energy and Segwun Energy to fund West African oil and gas initiative

16 August 2012—Rio Grande entered into a binding letter of intent with Snowcap Energy Inc. of Calgary, Alberta and Segwun Energy Inc. of Toronto, Ontario under which the Rio Grande has agreed to advance certain funds to Snowcap in exchange for an option to acquire a 100% interest, directly or indirectly, in certain resource projects that Snowcap and Segwun  (together the JV Partners) are in the process of acquiring in West Africa. The JV Partners have potential acquisition projects in Equatorial Guinea, including the possible acquisition of a working interest in certain offshore oil and gas blocks for exploration, and are also investigating other acquisition targets in West Africa.