Petrobras Makes Presalt Oil Find In Marlim Sul Field

Petrobras said the company has made its first commercial oil discovery in the Marlim Sul Field’s presalt area in the Campos Basin.

Located about 115 km (71 miles) offshore Brazil’s Rio de Janiero state, the Poraquê Alto well was drilled to a final depth of 4,568 m (14,987 ft) with a water depth of 1,107 m (3,632 ft), Petrobras said in a news release.

“The discovery was confirmed by profile data, gas detector, formation testing by cable and fluid samples,” the release said. “Analysis of current data indicates carbonate reservoirs of good porosity and permeability features at 4,420 m [14,501 ft] depth and 45 m [148 ft] thick with oil presence.”

ION Adds To 2-D Data Library With Acquisition Offshore Panama

ION Geophysical Corp. has undertaken a new 2-D multiclient acquisition program offshore Panama, marking the area’s first seismic survey acquired in about 30 years, the company said in a news release.

The PanamaSPAN, which is supported by industry funding, aims to evaluate the hydrocarbon potential in unexplored areas offshore Panama as the country’s inaugural license round approaches.

“Hydrocarbon exploration in Panama has identified various sedimentary basins, proving the existence of geological structures that may contain oil and gas, although there hasn’t been a commercially exploitable discovery,” Panama’s Energy Secretary Víctor Urrutia said in the release. “Today, through the use of new and more sophisticated techniques, it is possible to identify prospective areas that previously were not considered economically viable such as deepwater deposits and/or those that are geologically more difficult to locate.”

ION said initial deliverables will be available in fourth-quarter 2017 with complete interpretation of the data available by mid-2018.

Philippines Says China Agrees On No New Expansion In South China Sea

China has assured the Philippines it will not occupy new features or territory in the South China Sea, under a new “status quo” brokered by Manila as both sides try to strengthen their relations, the Philippine defense minister said.

Philippine Foreign Secretary Alan Peter Cayetano also said the Philippines was working on a “commercial deal” with China to explore and exploit oil and gas resources in disputed areas of the South China Sea with an aim to begin drilling within a year.

The defense minister, Delfin Lorenzana, told a congressional hearing the Philippines and China had reached a “modus vivendi” or a way to get along, in the South China Sea that prohibits new occupation of islands.

“The Chinese will not occupy new features in the South China Sea nor they are going to build structures in Scarborough Shoal,” Lorenzana told lawmakers, referring to a prime fishing ground close to the Philippines that China blockaded from 2012 to 2016.

China claims almost the entire South China Sea, a waterway through which about $3 trillion worth of sea-borne trade passes every year. Brunei, Malaysia, the Philippines, Taiwan and Vietnam also have conflicting claims in the area.

Erin Energy Spuds Oyo-9 Well Offshore Nigeria

Erin Energy Corp. said it has begun drilling the Oyo-9 well offshore Nigeria using the Pacific Bora sixth-generation drilling rig.

The company plans to spend about 62 days to drill and complete the well, which will be tied to the FPSO unit for production that is expected to begin in fourth-quarter 2017.

Erin said it expects to add 6,000 bbl/d to 7,000 bbl/d to the Oyo Field’s current production.

Tullow Launches Oil, Gas Exploration In Zambia

Tullow Oil has started exploring for oil and gas in Zambia, Africa’s No.2 copper producer, as the country pushes to diversify its economy and reduce its reliance on the industrial metal.

Copper mining earns Zambia more than 70% of its foreign exchange but the southern African state has been trying to move into other commodities to insulate itself from price shocks.

Zambia does not produce oil, but the government said soil samples sent to European laboratories have shown good traces of crude.

Tullow Executive Vice President Ian Cloke said in a speech during the launch in northern Zambia that exploration would take between two and 10 years, development three to 10 years and production in 20 to 50 years.

“We are exploring over a large area that includes Northern and Luapula provinces,” Cloke said, referring to regions in the north of Zambia. “With Tullow’s exploration credentials, I can confidently say that if there is any oil to be found in this area of Zambia, Tullow will find it.”

—Reuters & Staff Reports

Offshore