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Eni has announced a new oil discovery at the Meleiha Concession in the Western Desert of Egypt.
The discovery was achieved through the Arcadia 9 well, drilled on the Arcadia South structure, which is located 1.5 km south of the main Arcadia field already in production. The well encountered 85 ft of oil column in the Cretaceous sandstones of the Alam El Bueib 3G formation. The well has been drilled close to existing production facilities and is already tied-in to production, with a stabilised rate of 5500 bpd.
Following the discovery, two development wells, Arcadia 10 and Arcadia 11, have been drilled back to back. The first one encountered 25 ft of oil column and the second one 80 ft, within the Alam El Bueib 3G formation. The three wells share the same oil-water contact in the discovered reservoir. Arcadia 11 also encountered 20 ft of oil pay in the overlying Alam El Bueib 3D formation.
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Earlier this month CPC Corp. held a ceremony to celebrate the first cargo of Chadian crude oil arriving in Taiwan at the Dalin Refinery, operated by CPC’s Refining Business Division.
CPC has been exploring for oil in Africa for decades. In 2006, it signed a contract with Chad’s Ministry of Petroleum and Energy under the name of OPIC Africa. In 2011, it discovered a large amount of crude oil at the first well. In 2017, it was granted the development and production license for the Oryx Concession. It conducted trial production in February 2020. In October 2020, the first cargo of oil produced from Oryx Concession a tanker carrying about 950 000 bbl of crude oil departed from the Kribi terminal in Cameroon and arrived in Taiwan at the end of November.
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SBM Offshore has reported a contractual lease extension for FPSO
Espirito Santo in Brazil and expects a potential increase in the lease duration for FPSOs in Guyana.
SBM Offshore will present an updated pro-forma backlog, taking into account the most recent developments, along with its Full Year 2020 Earnings.
SBM Offshore signed an agreement with its client Shell for a five years’ extension for the lease and operate contracts of the FPSO
Espirito Santo located in Brazil. The end of the contractual lease and operate period was extended from December 2023 to December 2028. SBM Offshore is the majority owner of the lease and operating companies related to FPSO
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Bahamas Petroleum Co. has announced that drilling of the Perseverance #1 well has commenced. The well was spud on 20 December 2020 and is anticipated to take 45 - 60 days to complete,
Perseverance #1 is targeting P50 prospective oil resources of 0.77 billion bbl, with an upside of 1.44 billion bbl.
Simon Potter, CEO, commented: We are very pleased to announce that the drilling of Perseverance #1 has commenced - the well has been spud. This is a momentous milestone for both BPC and The Bahamas and represents the culmination of more than ten years work by a team who have remained steadfast in their belief in this project throughout - that it is finally taking place is a testament to the application, skill and professionalism of many people over those years. The well will be drilled to the highest environmental and safety standards over the next 45 - 60 days. Our Shareholders have been extremely patient, but we are now within a couple of months of understanding the sca