[fogri] Re: Repsol-YPF & HD3D Technology
- From: <rovicky@xxxxxxxxx>
- To: fogri@xxxxxxxxxxxxx
- Date: Thu, 24 Jan 2002 17:46:53 +0800
Repsol-YPF sells some Indonesian assets to China
18 Jan. 2002
Madrid, Jan 18, 2002 (EFE via COMTEX) -- The Spanish-Argentine oil
giant Repsol-YPF is to sell its shares in five Indonesian drilling
fields to the Chinese national oil company, CNOOC, for $582 million, in
a bid to further reduce its debt load, the company announced on Friday.
The five blocs - South East Sumatra, offshore North West Java, Poleng,
offshore West Madura and Blora -- produce 70,300 barrels daily of
petroleum and other liquids, which account for 80 percent of the
output, while the other 20 percent is natural gas.
However, Repsol-YPF has no intention of pulling out of Indonesia, one
of the 30 countries where it currently carries out operations, and
where it has been present since 1986. Combined output from these 30
countries is over one million barrels daily.
The company recently made a major discovery at their Sungei Kenanwang
wells which, when fully exploited, are estimated to produce a daily
output of 2.5 million cubic meters of gas and 3,000 barrels of
condensates.
Copyright (c) 2002. Agencia EFE S.A.
PGS Awarded $58 Million in New Onshore and Transition Zone Contracts
17 Jan. 2002
HOUSTON & OSLO, Norway, Jan 17, 2002 (BUSINESS WIRE) -- Petroleum Geo-
Services ASA (NYSE:PGO)(OSE:PGS) announced today that its onshore
division has secured new seismic acquisition contracts in the United
States, Ecuador, India and Bangladesh valued at $58 million, boosting
the Company's backlog of 2002 onshore work to more than $110 million.
In the United States, PGS has been selected to acquire two separate 3D
surveys in the Hugoton Field in Kansas. PGS will employ its High
Density 3D (HD3D(TM)) technology, featuring 55 ft. X 55 ft. bins, and
very high trace density 3D coverage that exceeds 440,000 traces per
square mile. Two crews, each equipped with 7,000 channels of Sercel 408
recording equipment, will record these surveys. These crews will begin
in January and work through the winter to complete the surveys prior to
the start of the winter wheat season.
Richard Degner, president of PGS' Onshore division, stated, "Our
premium HD3D(TM) technology played a major role in PGS being selected
to perform these contracts over very aggressive competition."
Additionally, PGS will shoot a 102 square mile, multi-client 3D survey
in the prolific Anadarko Basin in Dewey County, Okla. The survey will
be recorded with a deep hole high energy dynamite source to image
productive Red Fork formation channel sands in an area where
conventional vibroseis recording has been ineffective.
On the Alaskan arctic North Slope, PGS is re-deploying two highly
sophisticated "soft footprint" seismic crews to acquire both
proprietary 3D and multi-client 2D seismic data. Degner commented, "Our
Alaskan 3D project will utilize more than 7,000 channels of Sercel 408
equipment, purpose built to withstand the 40 degree below zero
temperatures experienced during the harsh arctic winters. This crew is
by far the largest channel count crew operating on the North Slope and
will continue acquiring the highest trace density 3D ever recorded in
the Alaskan Arctic."
Degner went on to say, "This job will employ several other PGS Onshore
innovations, including specialized QuadraTrak prime movers and
vibrators, all equipped with specialized articulating rubber tracked
systems for maximum efficiency and minimum environmental impact. PGS
tested this new, purpose built equipment last season, and it proved to
provide unparalleled efficiency in challenging heavy snow and foothills
terrain. PGS will continue to test and develop automated cable handling
systems to improve efficiency and limit crew exposure to the harsh
environment."
PGS' 2D multi-client crew in Alaska will acquire a data set targeting
the Foothills gas play and extending the proven Southern Turbidity oil
play. The Foothills portion of the program will be shot in rough
terrain, over a lightly explored gas prone region high on the flanks of
Alaska's Brooks Range. This exploration 2D project will provide high-
resolution data with 144 fold and 27 1/2 foot CDP spacing to image the
steeply anticlines structures. The Pre-Stack Time Migrated (PSTM) data
will be available in time for Alaska's 2002 Spring and Fall lease
sales.
Internationally, PetroEcuador has awarded PGS the 325 square kilometer
Libertador 3D project in Ecuador's Oriente Basin. PGS' technical
offering was selected by PetroEcuador as the best for the project to
revitalize one of the Ecuador's most important producing fields. Their
choice was based on both the high technology Sercel 408 gear and the
experienced personnel to execute the work plan without impacting the
surrounding dense rain forest and nearby indigenous populations. All
equipment will be transported in by helicopter as part of a PGS
designed work plan to further reduce environmental impact. The plan
also includes measures to ensure that cultural and other tribal
routines are undisturbed.
In India, PGS has secured a contract from ONGC for 330 square
kilometers of 3D transition zone seismic on the coast of the Andhra
Pradesh. The area surveyed will extend from the beach out to
approximately 30 meters of water depth along India's central eastern
coastline. PGS will employ dual sensor equipped Sercel 408 gear with
PGS' proprietary modifications for shallow marine application. PGS will
utilize a specially designed, composite hulled catamaran shallow draft
gun boat to work in water depths less than one meter near shore.
In Bangladesh, PGS has been awarded a contract to acquire a 457 square
kilometer HD3D(TM) seismic survey in the Dhaka area. Degner commented,
"We particularly value the extensive experience of our country manager,
Terry Visser, and all key members of the field crew with respect to
land operating conditions in Bangladesh. This is of extreme value on a
job with a tight deadline in such a densely populated area."
Diz Mackewn, president of PGS Geophysical, stated, "It is important to
emphasize that almost all of PGS On shore's recent job completions and
awards for 2002 have been based upon our premium HD3D(TM) technology,
including almost 100% of the United States work during the past six
months." Mackewn went on to comment, "We continue to see client's
choosing HD3D for their 3D surveys despite the recent downturn in North
American drilling activity due to lower oil and gas prices. The tighter
spatial sampling and higher trace density leads directly to improved
data quality."
Degner added, "PGS recently completed two large 3D surveys in south
central Wyoming, recording over 600 square miles of 3D data with trace
densities exceeding 800,000 traces per square mile. This is eight to 12
times denser than previous surveys in the area. Due to the
complexities, time delays, costs of permitting and the added quality of
the tighter spatial sampling and higher trace density product, we
strongly believe that HD3D(TM) will be our industry's future."
Petroleum Geo-Services is a technologically focused oilfield service
company principally involved in two businesses: Geophysical Operations
and Production Operations. PGS acquires, processes and markets 3D, time-
lapse and multi-component seismic data. These data are used by oil and
gas companies in the exploration for new reserves, the development of
existing reservoirs, and the management of producing oil and gas
fields. PGS' advanced geophysical technologies allow oil and gas
companies to better characterize and monitor their reservoirs in order
to enhance production and ultimate recovery of hydrocarbons. In its
Production Operations business, PGS owns four floating production,
storage and offloading systems ("FPSOs") and operates numerous offshore
production facilities for oil and gas companies. FPSOs permit oil and
gas companies to produce from offshore fields more quickly and cost
effectively. PGS operates on a worldwide basis with headquarters in
Oslo, Norway and Houston, Texas.
The information included herein contains certain forward-looking
statements within the meaning of Section 27A of the Securities Act of
1933 and Section 21E of the Securities Exchange Act of 1934. These
statements are based on certain assumptions and analyses made by the
Company in light of its experience and its perception of historical and
future trends, on general economic and business conditions and on
numerous other factors, including expected future developments, many of
which are beyond the control of the Company. Such forward-looking
statements are also subject to certain risks and uncertainties as
disclosed by the Company in its filings with the Securities and
Exchange Commission. As a result of these factors, the Company's actual
results may differ materially from those indicated in or implied by
such forward-looking statements.
CONTACT: Petroleum Geo-Services, Houston J. Chris Boswell, 281/589-7935
or Dag W. Reynolds, +47 67 52 66 00 or Diz Mackewn, +44 1932 260 001
----
Gabung Milist Fogri, email ke fogri-request@xxxxxxxxxxxxx dengan subject
subscribe
Keluar Milist Fogri, email ke fogri-request@xxxxxxxxxxxxx dengan subject
unsubscribe
homepage : http://www.fogri.f2s.com
Archieve : //www.freelists.org/archives/fogri/
-----
Other related posts:
