From a seismic remapping of the Lower Congo Basin to BP’s new agreement with Iraq to redevelop the Kirkuk Field, below is a compilation of the latest headlines in the E&P space.
Activity
Kolibri Starts 2025 Drilling Program with Wells in Tishomingo Field
Kolibri Global Energy’s drilling rig is scheduled to start work on four wells in the Tishomingo Field in Oklahoma this month, with completion scheduled for May and first production expected in June.
The Lovina 9-16-1H, 9-16-2H, 9-16-3H and 9-16-4H wells are all planned 1.5-mile lateral wells located on the same pad. Kolibri has 100% interest in all four wells.
The rig will then move to the Forguson Field, where the location for the Forguson 17-20-3H well is under construction. Kolibri will have a 46% working interest in this 1.5-mile lateral well.
Vår Energi Discovers Oil in Zagato Prospect
Vår Energi has discovered oil in the Zagato prospect, directly north of the Goliat Field.
Wildcat well 7122/8-3 S is the 11th in Production License 229 in the Barents Sea. It was awarded in 1997 in a round of awards called the Barents Sea Project -97. The well was drilled by the COSL Prospector rig.
Preliminary estimates place the size of the discovery at 15 MMboe to 43 MMboe.
The licensees will assess the discovery together with other discoveries and prospects in the vicinity, possibly tying back to the Goliat Field.
Contracts and company news
BP, Iraq reach final agreement for redevelopment in Kirkuk
BP reached agreement on all contractual terms with the government of Iraq to invest in several giant oil fields in Kirkuk.
The deal provides for the rehabilitation and redevelopment of the fields, spanning oil, gas, power and water with potential for investment in exploration. The agreement is subject to final governmental ratification.
The two parties signed a memorandum of understanding in July and then agreed on most commercial terms in January.
TGS Completes Reprocessing of Lower Congo Basin Dataset
Energy data and intelligence provider TGS has completed the reprocessing of the Block 16 GeoStreamer MC3D seismic dataset in Angola’s Lower Congo Basin, in partnership with Angola’s National Agency for Petroleum, Gas and Biofuels (ANPG).
The project covered 1,420 sq miles, using modern depth processing workflows to deliver enhanced imaging beyond the original data.
The most recent exploration well in Block 16 was drilled in 2013.
The survey also provides partial coverage of the Tchihumba Field, a marginal field development opportunity being marketed by ANPG.
Kongsberg Maritime to Design New Offshore Vessel
Kongsberg Maritime will supply the design and integrated equipment package for a new walk-to-work offshore service vessel (OSV), to be built by ST Engineering Marine in Singapore for a leading oil and gas company.
The 97-m vessel will accommodate 106 people and feature a motion-compensated gangway to enable safe transfer of personnel between to and from offshore installations. It is designed for oil and gas operations and will have a greater endurance of up to nine weeks away from shore, compared to a CSOV (commissioning service operation vessel) industry standard of four weeks.
Danos, AXion Form Strategic Partnership
Danos and AXion Logistics have formed a strategic partnership and will establish a joint venture (JV) to deliver comprehensive supply chain management and logistics to the energy industry. Danos has a long history of upstream and midstream supply chain management. AXion brings expertise in downstream logistics and transportation.
The companies’ JV will expand their scope of services. The partnership will enhance efficiency, reduce costs and introduce innovative logistics solutions tailored to the evolving needs of energy businesses.
EnerMech to Perform Work for SBM Guyana Subsidiary
EnerMech has been selected to carry out pre-commissioning work on the One Guyana FPSO for Guyana Deepwater Operations, SBM Offshore’s subsidiary in Guyana. The FPSO is set to arrive in Guyanese waters this year.
The firm delivered pre-commissioning campaigns for all three FPSOs producing in the Stabroek Block: the Liza Destiny, Liza Unity and Prosperity. More recently, EnerMech secured the Gas-to-Energy Pipeline Pre-Commissioning Project, which included the Destiny and Unity FPSOs.
One Guyana, commissioned by SBM Offshore for Exxon Mobil Guyana, is designed to produce approximately 250,000 bbl/d, with an associated gas treatment capacity of approximately 450 MMcf/d and water injection capacity of approximately 300,000 bbl/d. It will be spread-moored in a water depth of around 1,800 ms and will have the capacity to store around 2 MMbbl of crude oil.
Recommended Reading
Michael Hillebrand Appointed Chairman of IPAA
2025-01-28 - Oil and gas executive Michael Hillebrand has been appointed chairman of the Independent Petroleum Association of America’s board of directors for a two-year term.
Utica Oil’s Infinity IPO Values its Play at $48,000 per Boe/d
2025-01-30 - Private-equity-backed Infinity Natural Resources’ IPO pricing on Jan. 30 gives a first look into market valuation for Ohio’s new tight-oil Utica play. Public trading is to begin the morning of Jan. 31.
Utica’s Infinity Natural Resources Seeks $1.2B Valuation with IPO
2025-01-21 - Appalachian Basin oil and gas producer Infinity Natural Resources plans to sell 13.25 million shares at a public purchase price between $18 and $21 per share—the latest in a flurry of energy-focused IPOs.
Trump Nominates E&P Advocate Sgamma to Head Bureau of Land Management
2025-02-12 - If confirmed by the Senate, Kathleen Sgamma, president of the Western Energy Alliance, would oversee management of approximately 245 million acres of surface lands.
The New Minerals Frontier Expands Beyond Oil, Gas
2025-04-09 - How to navigate the minerals sector in the era of competition, alternative investments and the AI-powered boom.
Comments
Add new comment
This conversation is moderated according to Hart Energy community rules. Please read the rules before joining the discussion. If you’re experiencing any technical problems, please contact our customer care team.