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ROGTEC Magazine - Russian Oil & Gas Technologies - News, Reviews & Articles

Western Well Tool Inc. has officially changed its name to WWT International Inc

Friday, September 30th, 2011

Western Well Tool Inc. has officially changed its name to WWT International Inc., Clive Mitchell, director of sales and operations, announced today.

“The name ‘Western Well Tool, Inc.’ has served us well for many years,” Mitchell stated. “We’ve worked hard to make our name synonymous with outstanding products and responsive service. However, we’ve updated our name to reflect our expanding role as an oil and gas specialty products and services company. Aside from increasing our global representation and offices, our ownership and the way we do business remain unchanged.”

Headquartered in Houston, WWT International has been providing solutions to the oil and gas industry for more than 20 years. The company provides Non-Rotating Drillpipe Protector Services (NRPS) to reduce drilling torque and drag; minimize casing and riser wear; decrease friction-induced buckling; improve ROP and control; minimize drill string and surface equipment stress; and extend drilling operations during adverse ocean conditions. WWT also offers Coiled Tubing Tractor Services (CTTS) to overcome CT reach limitations. WWT CT Tractors are ideal for well intervention, drilling and milling applications, and to facilitate a variety of completion and maintenance tasks.

No-cost well analyses and applications review reports are offered for potential Tractor and Protector customer applications. Full-service on- and offsite technical support is available worldwide 24/7. To learn more about WWT International or for a complete list of WWT’s global offices and representatives, please visit our website: www.wwtinternational.com.



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PetroKamchatka Plc Reports Financial Results for the Year Ended May 31, 2011

Friday, September 30th, 2011

PetroKamchatka Plc a Jersey company, reports its audited financial results for its year ended May 31, 2011. PetroKamchatka has filed its Consolidated Financial Statements for the year ended May 31, 2011 and its Management’s Discussion and Analysis (“MD&A”) on www.sedar.com and on its website at www.petrokamchatka.com.

Selected financial information as at May 31, 2011 and May 31, 2010 and for the years ended May 31, 2011 and 2010 are set out below and should be read in conjunction with PetroKamchatka’s May 31, 2011 Consolidated Financial Statements and MD&A.

SELECTED FINANCIAL INFORMATION
The audited consolidated financial information for PetroKamchatka includes the Corporation, its subsidiaries and its proportionate share of the accounts of its joint interest entities.

PetroKamchatka reported a net loss for the year ended May 31, 2011 of $22.5 million ($0.05 per share) compared to a net loss of $38.5 million ($0.09 per share) for the year ended May 31, 2010.

The loss for the year ended May 31, 2011, included a write down of approximately $17.1 million of its full cost pool of capitalized petroleum and natural gas exploration licenses in Russia. The write down includes approximately $17 million in the carrying value of the Corporation’s interest in the Icha license and approximately $75,000 in the carrying value of the Corporation’s interest in the Ichinskaya and Vorovskaya licenses. All three licenses are located in Kamchatka, Russia. PetroKamchatka incurred ‘equipment operating costs and other’ in the current year of approximately $2.4 million relating to its interest in two drilling rigs. These costs include de-mobilization, transportation, storage and repairs to its Russian mobile drilling rig; storage, legal and appraisal fees relating to its interest in the HighKelly rig. Other costs contributing to the current year loss included general and administration expenses of $2.4 million, stock-based compensation expense of $0.4 million and depreciation on its Russian mobile drilling rig and equipment of $0.3 million.

Cash flow used in operating activities was approximately $3.7 million, mostly to fund equipment operating costs and general and administration expenses. Capital expenditures for the year were approximately $0.8 million, which were primarily related to transportation and preparatory costs for the drilling of a well on the Icha exploration license that was not drilled.

Working capital at May 31, 2011 was approximately $2.0 million, including cash of $4.0 million. The Corporation has no long-term debt.

The loss for the year ended May 31, 2010, included a write down of property and equipment of approximately $32 million, including a $29.5 million partial write down of its full cost pool of capitalized petroleum and natural gas costs in Russia, and a $2.0 million write down in the carrying value of the Corporation’s 46.25percent net interest in a drilling rig.

The Corporation also incurred a one-time expense of approximately $1.2 million relating to its reorganization in the 2010 fiscal year and its listing on the TSX Venture Exchange. Other costs contributing to the current year loss included general and administration costs of $4.5 million, stock-based compensation expense of $0.7 million and depreciation on its Russian drilling rig and equipment of $0.7 million. These amounts were partially offset by a $0.4 million recovery of prior year’s expenses.



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SOCAR – New well commissioned at Oil Rocks field

Thursday, September 29th, 2011

The well #1846, drilled from the platform #1887, at the Oil Rocks field has been commissioned recently. It was drilled by Bayil Limany Offshore Exploration Drilling Office of the Complex Drilling Works Trust. The daily production of the well drilled in the Girmaki Suite showed 12 tons of oil from 2453-2450 meter intervals. It will be commissioned by Oil Rocks OGPD.

Source



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Polarcus achieves significant transit savings via the Northern Sea Route

Thursday, September 29th, 2011

Polarcus Limited is pleased to announce that the Company’s ultra-modern 12-streamer 3D seismic vessel, POLARCUS ALIMA, has achieved a significant first in the seismic industry, having successfully transited to Asia-Pacific via the Northern Sea Route (NSR). Her passage commenced on 15 September from Hammerfest in Norway after completion of seismic operations in the Barents Sea, taking her on a 3,000 nautical mile route along the northern coast of Russia to Cape Dezhnev in the Bering Straits.

The voyage was completed in just nine days. After passing the Bering Straits on 24 September POLARCUS ALIMA is presently continuing her onward passage to New Zealand to commence operations expected to run for up to 7 months in total. The voyage was made possible in part due to the vessel’s Arctic-ready capabilities, a unique feature of the Polarcus fleet in the seismic industry. Under the Russian Federation’s 1990 Regulations for Navigation on the Seaways of the Northern Sea Route, vessels making the passage are required to hold an ICE-1A or higher ice class.

The expected time savings in transit between Norway and New Zealand compared to the traditional route through the Panama Canal amounts to some eight days. The savings versus the Suez Canal, a necessity for some larger seismic vessels, amounts to thirteen days. The passage via the NSR therefore presents significant time-related benefits for Polarcus and its clients.

This is the first known passage of a 3D seismic vessel along the Northern Sea Route. Preparations for the voyage were carried out in close cooperation with Tschudi Arctic Transit AS through its Russian – Norwegian JV company Arctic Bulk AG, Atomflot, and the Northern Sea Route Administration in Moscow.

Commenting on the successful transit Rolf Rønningen, CEO Polarcus, said: “The successful navigation of Polarcus Alima along the Northern Sea Route has been achieved through the dedication and hard work of our in-house operations personnel, the Northern Sea Route Administration, and our crew onboard the seismic vessel. The result of this outstanding teamwork has been to achieve significant savings in fuel, emissions, and most significantly time during a milestone transit that effectively provides Polarcus a viable new sea bridge between two important operational markets.”



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Max Petroleum Receives its Production Test Results for ASK-1

Thursday, September 29th, 2011

Max Petroleum Plc, an oil and gas exploration and production company focused on Kazakhstan, is pleased to announce that it has begun testing the ASK-1 exploration well in the Asanketken Field, successfully producing 35 degree API oil at a stable rate of 672 barrels of oil per day (“bopd”) from perforations in a Jurassic reservoir from depths of 1,281 to 1,287 metres during a 12 hour period. The well has been connected to temporary production facilities and will be placed on long-term test production. With the addition of ASK-1, the Company’s current daily production is 3,671 bopd. This daily rate is variable due to several high rate wells being subject to occasional shut-in during long-term testing.

James Jeffs, Executive Co-Chairman, commented:

“We are very encouraged by the test results from ASK-1 and expect similar results from up to three additional wells to be drilled in this Jurassic fault block, including the ASK-2 well that is currently drilling. We are also pleased to have met our production target for the quarter.”



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Shtokman Development AG has taken part in the International Conference “Arctic Shelf Development: Step by Step”

Thursday, September 29th, 2011

On September 29, 2011 in Murmansk the IV International Conference “Arctic Shelf Development: Step by Step” has been held. This Conference is organized by the Association of the Oil and Gas Suppliers “Murmanshelf” and Russian Gas Society under the auspices of the Government of the Murmansk Region and Murmansk Regional Duma.

Aleksandr Selin, Director of SDAG Murmansk Branch, has made a report at the Conference.

Aleksandr Selin has informed Conference participants on SDAG Tender Policy, on the standards and requirements set up for the Russian partners involved in the Shtokman Project. “Maximum involvement of Russian Content in the Shtokman Project is one of the key SDAG priorities. Shtokman is supposed to be an example for all future projects to be implemented in the Arctic Shelf, – commented Aleksandr Selin. – Taking into account the magnitude and complexity of the Shtokman Project, SDAG intends to attract Russian contractors and suppliers complying with the HSE highest international standards. SDAG continues to search the reliable and professional Russian partners, using the potential of Murmanskshelf Association as well. SDAG highly estimates the activity of this Association and plans to further develop effective cooperation”.

Shtokman.ru



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Tethys Petroleum Limited: Doris AKD06 Well Initial Results

Monday, September 26th, 2011

Tethys Petroleum Limited today gave an update on the initial results of the AKD06 Doris appraisal well in Kazakhstan.

Drilling data and wireline logs indicate oil in both the Cretaceous sandstone and Jurassic limestone reservoirs. The Cretaceous sandstone has been encountered above prognosis and at a higher elevation than in the AKD01 Doris discovery well and is of good quality with similar net pay thickness to AKD01, which flowed over 5,400 barrels of oil per day from this unit. The Jurassic limestone has also been encountered above prognosis and slightly higher than in the AKD01 well and has similar character to the recently drilled AKD05 well which flowed over 1,500 barrels of oil per day from this zone. Further analysis of these initial data is currently underway.

Production liner has now been run and cemented and this will be followed by the gathering of additional geophysical data to tie this well into the new 3D seismic dataset. The well will then be tied into the test production facility and two production tests are planned on the reservoir units. Testing will commence as soon as is practical, expected to be within the next month.

Tethys is focused on oil and gas exploration and production activities in Central Asia with activities currently in the Republics of Tajikistan, Kazakhstan and Uzbekistan. This highly prolific oil and gas area is rapidly developing and Tethys believes that significant potential exists in both exploration and in discovered deposits.

Source www.tethyspetroleum.com



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Max Petroleum Starts Drilling at Zhana Makat

Thursday, September 22nd, 2011

Max Petroleum Plc, an oil and gas exploration and production company focused on Kazakhstan, is pleased to announce that it has commenced drilling the ZMA-A23 development well at the Zhana Makat Field in Block E. The total depth of the well will be approximately 900 metres targeting Jurassic reservoirs.



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Petroneft Resources Discovers New Oil Field in North Varyakhskaya

Wednesday, September 21st, 2011

PetroNeft Resources plc, the owner and operator of Licences 61 and 67, Tomsk Oblast, Russian Federation, is pleased to announce the discovery of another new oil field in Licence 61 at North Varyakhskaya.

Highlights:
• Seventh oil field discovered in Licence 61
• North Varyakhskaya No. 1 well makes oil discovery in main Upper Jurassic target
• 2.2 metres of net oil pay confirmed in J1-1 interval
• Open hole inflow test of 36 bfpd (unstimulated)
• Good quality oil – 36 degree API
• 2.5 metres of potential additional net pay in J1-2 interval requiring further testing
• Development drilling at Lineynoye continues to push field boundary significantly further north
• Several wells have encountered materially thicker pay beyond the originally expected northern field boundary and have pushed the observed field oil-water contact at least 5 metres deeper
• 211 well encounters second thickest net pay interval to date
• One additional well is now planned to be drilled to the northeast of the last two wells
• Exploration commenced at Licence 67 with first well now coring the uppermost objective with oil shows in the core.

North Varyakhskaya No. 1
The North Varyakhskaya No. 1 well at the North Varyakhskaya prospect located 6 km to the east of the Lineynoye Central Processing Facility was spudded on 17 August 2011. The well, which was drilled on the crest of the structure, has encountered approximately 2.2 metres of net oil pay in the J1-1 reservoir interval in a gross sand package of over 5 metres. There is also an additional 2.5 metres of potential oil pay in the J1-2 reservoir interval that will require more detailed logging and testing to confirm. A short open hole test of the J1-1 interval produced an inflow of 36 bfpd consisting of oil and mud filtrate. The oil is of good quality, 36 degree API, which is consistent with other oil fields in the Licence area. This preliminary test indicates that the reservoir will need fracture stimulation for economic development, as is usual in the area.

The field is located along the Lineynoye to Arbuzovskoye pipeline which is planned for construction in the first quarter of 2012, which will reduce development cost. Casing is currently being run in the well which will eventually be utilised as a producer. The field will also qualify for the maximum MET tax relief based on the new MET tax reduction law for small fields that becomes effective on January 1, 2012.

Updated well locations at Lineynoye oil field Pad 2

Licence 61 Development programme
Two further successful development wells have been drilled from Pad 2 at the Lineynoye oil field. Well 209 encountered 9.6 metres of net pay. This well was the most northerly well drilled to date at approximately 500 metres further north than the 207 well that was drilled in early August 2011. Both wells were drilled at locations that had originally been interpreted to be outside the boundaries of the oil field and initially projected to have zero net pay. Given the successful results from the 207 and 209 wells we then added another location, well 211, to the northeast of well 207, again outside the original field boundaries. The 211 well encountered 17.9 metres of net pay, the second thickest net pay interval to date in the drilling programme. We are studying the possibility of adding one well (No. 212) to this year’s programme at Pad 2 to enable us to drill the reservoir to the northeast of these two latest wells. In the meantime, we are currently drilling the 210 well which is located nearer the centre of the Pad 2 area.

The Pad 2 drilling results indicate that the field wide oil water contact (owc) is at least 5 metres deeper on the structure than previously interpreted. The owc is about 12 metres lower than the interpreted structural spill point on the northern end of the field providing good evidence that the Lineynoye field extends much further north than previously estimated and possibly connecting the structures of the Emtorskaya high to Lineynoye.

Licence 67 Exploration programme
Exploration at Licence 67 commenced on 28 August 2011 when the high impact Cheremshanskaya No. 3 well was spudded. The well is targeting objectives at the Upper, Middle and Lower Jurassic horizons following up on previously drilled wells where modern log analysis indicates potential “missed pay”. The well is currently coring in the uppermost target horizon and hydrocarbon shows have been encountered. The well will take up to two months to complete drilling and testing of the three target objectives. Further updates will be provided as operations progress.

Dennis Francis, Chief Executive Officer of PetroNeft Resources plc commented:
“We are very pleased to announce a new discovery at North Varyakhskaya. The field, while small in comparison to Sibkrayevskaya, is important because it can be easily tied into already planned infrastructure at minimal cost and will also qualify for a reduced Mineral Extraction Tax. The two well exploration programme now underway at Licence 67 is based on re-interpreted data from old wells, similar to our recent significant Sibkrayevskaya discovery. We look forward to updating shareholders on the results of these wells as activities progress.”

Source www.petroneftresources.com



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Schlumberger Releases Petrel Play-to-Prospect Risk Assessment

Tuesday, September 20th, 2011

New Petrel Capabilities Delivered to Help De-risk Exploration Prospects

Schlumberger today announced the release of the Play-to-Prospect Risk plug-in for the Petrel* E&P software platform. This technology offers an integrated petroleum-system-based assessment to consistently evaluate key risk elements from play to prospect.

“Statistics show that, on average, two of three frontier exploration wells today are unsuccessful, indicating that we as an industry still fail to properly manage exploration risk,” said Tony Bowman, president, Schlumberger Information Solutions (SIS). “While seismic technology advances have enabled better evaluation of trap and reservoir risks, almost three-quarters of dry exploration wells are due to an inadequate understanding of charge and seal risk. With the new Play-to-Prospect Risk plug-in, oil and gas companies have a standardized process that integrates petroleum-system-based assessment to better understand charge and seal risk.”

The Play-to-Prospect Risk plug-in takes geological elements—trap, reservoir, charge and seal—and converts them into chance maps through a suite of transform methods. Scenarios are compared to determine play limits and identify areas for high grading to support rapid ranking of opportunities. The process seamlessly migrates from play-scale to prospect-level assessment, all within Petrel. This enables refinement of geological scenarios combined with chance of success—to deliver probabilistic hydrocarbon volumes.

Consistent workflows for play-to-prospect risk assessment across teams provide a standard method for evaluating study areas with a clear audit trail. The plug-in calculates the mean economic case for potential field development and the probabilistic economic resource case—based on the minimum economic reserve parameter for the geographic area. This enables effective portfolio management based on a clear understanding of risk and chance of success.

Petrel capabilities extended with WesternGeco technology
Complementing the exploration capabilities of the Play-to-Prospect Risk plug-in, the new Prestack Seismic Interpretation plug-in brings powerful WesternGeco technology to the Petrel platform to further refine understanding of petroleum system elements including charge, risk and trap definition. Geoscientists can analyze prestack gathers to better understand processing effects on post-stack data; evaluate response differences in offset traces to evaluate fluid effects; make on-the-fly offset stacks to create clearer partial stacks of interpretation targets; as well as interpreting and auto-tracking directly on pre-stack data for better horizon definition.

For more information, visit www.slb.com/petrel.



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