Iran: IOOC Step Up Efforts To Boost Offshore Oil Production By 85,000 Bpd
The Iranian Offshore Oil Company (IOOC) is currently implementing US$2.6 billion worth of projects expected to boost Iran’s offshore oil production by 85,000 barrels per day (bpd), Oilprice.com reported Monday.
According to the portal, the Iranian state-held offshore oil firm has awarded various projects to Iranian service contractors, Alireza Salman-Zadeh.
The contracts include work on drilling, completion, and repair of 40 wells, as well as the construction and installation of wellhead equipment and five offshore platforms.
Work is being done to boost oil production at the Siri field in the Persian Gulf under a contract with an Iranian company.
Considering that Iran’s oil, shipping, and financial industries are under strict U.S. sanctions, Iran’s efforts to keep or increase its offshore oil production can be done only in contracts with domestic firms right now, because foreign firms fled Iran after the U.S. slapped back sanctions in May 2018.
Western majors such as Total were the first to quit Iran after the sanctions, but earlier this year even China National Petroleum Corporation (CNPC) withdrew from the development of Phase 11 of the giant South Pars natural gas field, in a major blow to Iran’s oil and gas industry.
The U.S. sanctions on Iran’s oil industry and exports have significantly cut Iranian oil exports over the past year, as the United States ended in May 2019 all waivers for all of Iran’s oil buyers and is going after anyone dealing with Iranian oil.
Iran continues to export oil, especially to China, but it has drastically increased the secrecy of how it ships that oil abroad and says that it is using every means possible to export its crude.
Meanwhile, crude oil production in Iran—once OPEC’s third-largest producer before the U.S. sanctions kicked in—dropped by another 45,000 bpd to average just 2.102 million bpd in November, according to OPEC’s latest data. To compare, Iran’s crude oil production averaged 3.813 million bpd in 2017.
Canada: Worker Injured Aboard Suncor Energy’s Terra Nova FPSO
An offshore worker was injured in an incident aboard Suncor Energy’s Terra Nova floating production storage and offloading (FPSO) vessel offshore Canada on Sunday, December 29, 2019, offshoreenergytoday.com has reported.
The Canada-Newfoundland and Labrador Offshore Petroleum Board (C-NLOPB) said on Monday that a worker on the Terra Nova FPSO was injured after falling from a ladder while conducting gas testing.
According to the C-NLOPB, the offshore medic and emergency response team were called to the scene. The injured worker has since been transferred to St. John’s by medevac and is currently in the hospital under medical care.
It is worth noting that an order to suspend production related operations on the Terra Nova FPSO had been previously issued by the C-NLOPB on December 19, 2019, in response to another issue.
Namely, the regulator’s chief safety officer (CSO) determined at the time that Suncor was not compliant with regulatory requirements to maintain and comprehensively inspect equipment critical in the safe operation of the installation, to ensure repairs are carried out in a timely manner, and to ensure that mitigation measures are effective in minimizing hazards.
Specifically, the CSO has found that those requirements have not been met with respect to the availability of redundant fire water pump systems onboard the installation.
C-NLOPB also added on Monday that this worker injury occurred during safety-focused operations and was not included in the scope of suspended activity.
The C-NLOPB is reviewing this incident, along with others that have recently taken place on facilities operated by Suncor Energy in the Canada-Newfoundland and Labrador Offshore Area.
Production-related operations remain suspended on the Terra Nova FPSO and will not resume until Suncor Energy has received approval from the C-NLOPB.
Discovered in 1984, the Terra Nova oil field was the second to be developed on the Grand Banks offshore Newfoundland. Production from the field began in 2002, using the Terra Nova FPSO.
In May 2019, Suncor and the Terra Nova joint venture owners sanctioned plans to proceed with a project that will extend the life of the FPSO vessel to approximately 2031.
The asset life extension project is expected to allow the facility to capture approximately 80 million additional barrels of oil for the Terra Nova partnership.
The asset life extension project will take place in 2020.
Ghana: GRIDCo Temporarily Restore Power Supply To VALCO
Ghana’s power transmission company, GRIDCo, has announced plans to restore power supply to the Volta Aluminum Company Limited (VALCO) temporarily following assurances by the latter that it will start paying its US$30 million debt by January 15, 2020.
Officials of VALCO gave the assurance after discussions between them and GRIDCo Monday afternoon.
The power transmission company, on Monday morning, cut power supply to VALCO due to the company’s inability to settle over US$30 million outstanding debt to the power transmitter.
The decision was made by the Management of GRIDCo after several attempts to get VALCO to honour its payment obligations failed.
“The decision to disconnect VALCO is part of ongoing debt collection measures to mobilise the needed funds to support its operations,” a statement by the company said.
The company said its operations were significantly impaired due to huge unpaid debts owed by its bulk customers, currently amounting to over GH¢1.2 billion.
Staff of the company hit the streets of Accra, capital of the West African nation, to protest the failure of ECG, NEDco and VALCO’s inability to pay their huge indebtedness which the workers said had crippled operations of the company.
“We play a critical role in Ghana’s power sector and we need every resource available to us to continue delivering on our mandate to our key stakeholders and clients. VALCO’s debts continue to mount and will create major problems for our operations if nothing is done about it,” CEO of GRIDCo, Ing. Jonathan Amoako-Baah said in the statement.
According to him, “We have been engaging the management of VALCO since the first half of this year to agree on a payment plan but nothing has come out of it. We have been left with no option as our continued state of affairs is unsustainable.
“We take the opportunity to entreat other customers indebted to GRIDCo to take steps to settle their debts,” he concluded.
Ghana: NPA Donates To Dzorwulu Special School, Autism Center And Tamale Orphanage
Ghana’s downstream petroleum regulator, National Petroleum Authority (NPA), on Monday, donated food items, non-food items and an undisclosed amount of money to three institutions in Accra and Tamale.
The donation was part of the Authority’s Corporate Social Responsibility (CSR) and after careful and thorough assessments of requests from several institutions, the Authority decided to settle on the three because they are in dire need of support.
At the Tamale Children’s home, for example, the Authority donated food items and money to the home. Joseph Awan, Chairman of the Staff Welfare, led the team.
He said the donation was part of the Authority’s commitment to supporting institutions that are impacting society in the right way.
“I am here on behalf of the Chief Executive, the board and the entire staff of the NPA and we are confident the items will go a long way to help address some of the challenges facing the home,” he said during the donation ceremony.
In Accra, both the Autism Awareness Care and Training and the Dzorwulu Special School were given undisclosed amount of money to help cater for some of their desperate needs.
The autism center, further, received food items including rice, cooking oil and detergents.
The Dzorwulu School received students’ beds, mattresses, plastic chairs and ceiling fans, which are some of their pressing needs.
At the two institutions, the Chief Inspector from NPA, Esther Anku praised the school authorities for their devotion towards the children with ‘special needs’.
They acknowledged the challenge involved but assured them of the Authority’s support towards their work.
“You are doing a very wonderful job and we share in the mission of the center and we have a number of items to donate to the school.”
Mrs. Anku said giving remains an importance part of the Authority’s work culture and as regulator of a sensitive sector like petroleum, they are minded by their CSRs towards those in dire need of assistance.
“Our Chief Executive is committed to this project and our support for the school will continue to come in,” she said at the Dzorwulu Special School.
Madam Serwa Quainoo, who is the administrator of the Autism Center, said autism is more of a communication issue and, therefore, advised the public to be on the look out for potential signs in their children.
She was hopeful that with the right care and support for autistic children, they would be able to live independent lives.
Source:www.energynewsafrica.com
In Accra, both the Autism Awareness Care and Training and the Dzorwulu Special School were given undisclosed amount of money to help cater for some of their desperate needs.
The autism center, further, received food items including rice, cooking oil and detergents.
The Dzorwulu School received students’ beds, mattresses, plastic chairs and ceiling fans, which are some of their pressing needs.
At the two institutions, the Chief Inspector from NPA, Esther Anku praised the school authorities for their devotion towards the children with ‘special needs’.
They acknowledged the challenge involved but assured them of the Authority’s support towards their work.
“You are doing a very wonderful job and we share in the mission of the center and we have a number of items to donate to the school.”
Mrs. Anku said giving remains an importance part of the Authority’s work culture and as regulator of a sensitive sector like petroleum, they are minded by their CSRs towards those in dire need of assistance.
“Our Chief Executive is committed to this project and our support for the school will continue to come in,” she said at the Dzorwulu Special School.
Madam Serwa Quainoo, who is the administrator of the Autism Center, said autism is more of a communication issue and, therefore, advised the public to be on the look out for potential signs in their children.
She was hopeful that with the right care and support for autistic children, they would be able to live independent lives.
Source:www.energynewsafrica.com
Breaking News:GRIDCo Cuts Power Supply To VALCO Over US$30 Million Debt
Ghana’s power transmission company, GRIDCo, has cut power supply to the Volta Aluminum Company Limited (VALCO) due to the company’s inability to settle over US$30 million outstanding debt to the power transmitter.
The decision was made by the Management of GRIDCo after several attempts to get VALCO to honour its payment obligations failed.
“The decision to disconnect VALCO is part of ongoing debt collection measures to mobilise the needed funds to support its operations,” a statement by the company said.
GRIDCo’s operations have been significantly impaired due to huge unpaid debts owed by its bulk customers, currently amounting to over GH¢1.2 billion.
At its Annual General Meeting (AGM) in November 2019, the company announced that its network expansion efforts had been hampered due to the current financial situation.
Staff of the company hit the streets of Accra, capital of the West African nation, to protest the failure of ECG, NEDco and VALCO’s inability to pay their huge indebtedness which the workers said had crippled operations of the company.
“We play a critical role in Ghana’s power sector and we need every resource available to us to continue delivering on our mandate to our key stakeholders and clients. VALCO’s debts continue to mount and will create major problems for our operations if nothing is done about it,” CEO of GRIDCo, Ing. Jonathan Amoako-Baah said in the statement.
According to him, “We have been engaging the management of VALCO since the first half of this year to agree on a payment plan but nothing has come out of it. We have been left with no option as our continued state of affairs is unsustainable.
“We take the opportunity to entreat other customers indebted to GRIDCo to take steps to settle their debts,” he concluded.
A source at VALCO has confirmed to energynewsafrica.com that their lights have been cut for about an hour now
Source: energynewsafrica.com
Ghana: No More Fuel Contamination Under My Watch-BOST MD
The Managing Director of Bulk Oil Storage and Transportation (BOST) Company Limited in the Republic of Ghana, Edwin A. Provencal has stated that the issue of fuel contamination will not happen under his watch.
According to him, he has taken steps to ensure that the issue of fuel contamination becomes an issue of the past.
Edwin Provencal was appointed as the Managing Director of the West African nation’s strategic oil reserves company following the resignation of George Mensah Okley.
He is the third Managing Director of BOST within three years under the current Akufo-Addo administration.
BOST has received bad publicity in the past few years due to selfish interest groups, with one of the issues being contaminated fuel that occurred in December 2016.
Speaking during a media engagement in Accra, Friday, Mr Provencal pledged his commitment to turning around BOST and make it a profit-making entity.
He was hopeful that the company would start making profit by next year.
He said one of the things he had done was to engage with management of BOST’s depots which had been outsourced to a third party and letting them know that all costs arising out of their omission or commission will be borne solely by them.
“No more contamination…if it occurs, our depot managers will be made to bear the cost,” he stated.
He admitted that, although things might have been done wrongly in the past, BOST, under him, would be cost efficient entity.
“I’m very nationalistic and with the work I did at Vodafone and the rest, I’m confident that we will work to turn BOST around,” he assured.
He said as part of measures to cut down expenditure, where possible, foreign training for BOST technical staff will be procured locally from TOR as they have the capabilities to supply same.
“Other West African nations come for training at TOR so why not us,” he said.
Mr Provencal revealed that since he assumed office, all the parcel of fuel they have handled has made some gains.
Source:www.energynewsafrica.com
Syria Plans To Sue U.S. Gov’t For ‘Stealing’ Its Oil
Syria’s government is considering suing the United States in an international court over what a senior advisor to Syrian President Bashar al-Assad referred to as the ‘stealing’ of Syria’s oil.
“Syria is looking into the possibility of filing an international lawsuit against the United States, due to the fact that they steal Syrian oil,” Bouthaina Shaaban, Syrian Presidential Adviser, told Beirut-based Al-Mayadeen TV in an interview, carried by Iran’s Fars news agency.
After a surprise announcement of pulling the U.S. troops out of Syria in October, U.S. President Donald Trump said that the United States would protect Syrian oil fields from ISIS.
President Trump claimed that the U.S had taken control of the oil in the Middle East, tweeting that “The U.S. has secured the Oil, & the ISIS Fighters are double secured by Kurds & Turkey.”
The President did not elaborate on what he meant by “securing the oil,” but speculations about the President’s statement assume he was referring to the U.S. special forces that have been—and will continue to be—in control of oil and gas fields in Deir Ezzor, Syria’s oil region.
President Trump has vowed to protect Syrian oil fields from ISIS, and the United States may leave 500 troops in northeastern Syria and send in battle tanks and other equipment with the purpose to help the Kurds in the area to protect oil fields that used to be controlled by Islamic State during its so-called caliphate in parts of Iraq and Syria.
In a separate interview, with NBC news, Assad’s advisor Shaaban said that the United States had no right to Syria’s oil, warning of “popular opposition and operations against the American occupiers of our oil.”
The Kurdish SDF forces control most of Syria’s oil. Before the war, Syria was producing 387,000 barrels of oil per day, of which 140,000 bpd were exported.
Ghana: Exclusive Photos From Ghana Energy Sector Annual Ball
Energynewsafrica.com brings you exclusive pictures from the 2019 Ghana Energy Sector Annual Ball (GESAB).
GESAB is a memorable end of year gala dinner that brings players in the energy sector in the Republic of Ghana under one roof to, among other things, foster and strengthen interpersonal relationships, build loyalty, and celebrate work done by all stakeholders within the year.
The maiden edition was organized last year in partnership with the Ghana Oil and Gas Service Providers Association (GOGSPA) and Blackpool Entertainment Limited at the Accra Marriott Hotel.
In 2018, dignitaries including Hon. Joseph Cudjoe, Deputy Minister for Energy in charge of Finance and Infrastructure, representatives of Petroleum Commission and representatives of local oil service companies graced the event.
Unlike 2018, event which hosted stakeholders in only the petroleum sector, this year’s event was opened to players in the Power Generation, Transmission and Distribution as well as Petroleum Upstream, Midstream and Downstream subsectors.
Source: www.energynewsafrica.com
Source: www.energynewsafrica.com
Aramco Welcomes New Agreement Between Saudi Arabia And Kuwait For Resumption Of Oil Production
Saudi Arabia’s national oil company, Saudi Aramco, has welcomed the new agreement signed between the Kingdom of Saudi Arabia and the State of Kuwait regarding the Saudi-Kuwaiti Partitioned Zone, which paves the way for the resumption of oil production at two fields.
Saudi Aramco President and CEO Amin H. Nasser commented: “Today is a remarkable day within the framework of economic and oil cooperation and integration between both the Kingdom of Saudi Arabia and the State of Kuwait. With the signing of this new accord, both parties have reached consensus that now is the right time to resume production in this zone. Both sides will work to ensure production resumption at the earliest opportunity.”
The historic agreement was signed in Kuwait City by HRH Prince Abdulaziz Bin Salman, Saudi Minister of Energy and HE Khaled al-Fadhel, Kuwaiti Oil Minister and Minister of Electricity and Water.
Halliburton Appoints Robb Voyles As Chief Legal Officer
Oil and gas services provider, Halliburton Company, has announce the appointment of Robb Voyles as executive vice president, secretary and chief legal officer effective January 1, 2020.
“We congratulate Robb on his well-earned appointment to chief legal officer,” Jeff Miller, chairman, president and chief executive officer of Halliburton said in a press release posted on the company’s website.
“He has built an outstanding legal team who provides sound legal guidance for our entire organization, and we are very fortunate to have him leading our corporate legal strategy.”
Van Beckwith, currently chair of the Litigation Department at Baker Botts LLP and member of its Executive Committee, will join Halliburton in January and assume the role of senior vice president and general counsel, reporting to Voyles.
Beckwith has almost 30 years of experience trying large and complex cases and arbitrations across the U.S.
During his tenure, he maintained a robust, nationwide trial practice for many of Baker Botts’ key clients while also serving in a wide range of leadership roles.
South Africa: New Oil And Gas Law Proposes 20% Carried Interest
South Africa has published a long-anticipated draft of oil and gas legislation that will give the state a 20% carried interest in exploration and production rights, with the aim of increasing development of the industry.
The policy also calls for at least a 10% participating interest by black partners and the establishment of a Petroleum Agency, according to a draft published Tuesday by the Department of Mineral Resources and Energy in the Government Gazette.
The bill separates rules for the petroleum resources sector from laws that apply to mining exploration. Companies including Royal Dutch Shell Plc have slowed activity in recent years, citing legislative uncertainty.
Finalizing the oil law has also become more urgent since Total SA announced the first significant deep-water discovery off the coast of South Africa in February.
South Africa will have a right to a 20% carried interest that “shall not be recoverable at exploration and appraisal stage,” according to the draft.
“The holder of a production right shall recover development and production costs from the proceeds generated from production operations as prescribed.”
Interested parties have until Feb. 21 to submit comment on the draft bill.
Guyana: ExxonMobil, Partners Discover More Oil In Starbroek Block Offshore
ExxonMobil and its partners have made an oil discovery offshore Guyana at the Mako-1 well southeast of the Liza field, marking the 15th discovery on the Stabroek Block.
The discovery adds to the previously announced estimated recoverable resource of more than 6 billion oil-equivalent barrels on the Stabroek Block.
Mako-1 encountered approximately 164 feet of a high-quality oil-bearing sandstone reservoir. Mako-1, drilled in 5,315 feet of water, is located approximately six miles southeast of the Liza field, which began producing oil in December 2019.
“New discoveries in this world-class basin have the potential to support additional developments,” Mike Cousins, senior vice president of exploration and new ventures at ExxonMobil said. “Our proprietary full-wave seismic inversion technology continues to help us better define our discovered resource and move rapidly to the development phase.”
The Liza Phase 1 development achieved first oil on Dec. 20, 2019 and will produce up to 120,000 boepd utilizing the Liza Destiny FPSO.
The Liza Unity FPSO, which will be employed for the second phase of Liza development and will have a production capacity of 220,000 boepd, is under construction and expected to start production by mid-2022.
Pending government approvals and project sanctioning of a third development, production from the Payara field north of the Liza discoveries could start as early as 2023, reaching an estimated 220,000 boepd.
Drilling activities in Guyana continue with four drillships to further explore and appraise new resources as well as develop the resources within approved projects.
The Stabroek Block is 6.6 million acres.
ExxonMobil affiliate Esso Exploration and Production Guyana Limited is operator and holds 45% interest in the Stabroek Block. Hess Guyana Exploration Ltd. holds 30% interest and CNOOC Petroleum Guyana Limited, a wholly-owned subsidiary of CNOOC Limited, holds 25% interest.
Egypt: Russian Oil Company Enters Two Blocks Offshore
Russian state-controlled oil company Zarubezhneft has entered into a production sharing agreement for two offshore blocks in Egypt.
On December 24, 2019, in Cairo, Zarubezhneft JSC, the Ministry of Oil and Mineral Resources of Egypt, the Egyptian state holding oil company GANOPE, and Pacific Oil Limited, signed a production sharing agreement for the South East Ras El Ush and East Gebel El Zeit blocks.
The blocks are located in the Gulf of Suez at a distance of 10 km from each other.
Estimated geological resources at both blocks amount to more than 200 million barrels, the Russian company said.
In the South East Ras El Ush blocks, Zarubezhneft plans to drill a prospecting well with the construction of a pilot, main and sidetracks, as well as to re-process and comprehensively re-interpret previously conducted 2D and 3D seismic surveys.
Also, to work on the block, the company is considering the possibility of attracting its own production capacities.
In the East Gebel El Zeit block, Zarubezhneft plans to implement work in the exploration and production areas, including the drilling of an exploration well in 2020.
Ghana: ECG, GRIDCo & NEDco Assure Of Reliable Power Supply During Festivities
Power utility companies in the Republic of Ghana have assured consumers in the West African nation of reliable power supply during the Christmas and the New Year festivities.
The three utility companies gave the assurance in a statement signed by the CEO of GRIDCo, Ing. Jonathan Amoako-Baah, Managing Director of ECG, Kwame Agyeman-Budu and CEO of NEDco Osmani A. Ayuba.
“As companies responsible for the transmission and distribution of power in Ghana, we recognise our critical importance to the sustenance of the country’s socio-economic development. We have, therefore, put in place a comprehensive business continuity plan and programme to ensure our engineers are on call to attend to emergencies when they occur across the country,” the statement said.
“We take our mandate to our key stakeholders seriously and resolve to execute it to the best of our ability. We wish our customers and the general public a Merry Christmas and a Prosperous New Year,” it added.