Sumitomo Corporation subsidiary SEEL agrees farm-in for 50% share of Carbon Catalysts 20% interest in the CS017 and CS018 licences, subject to regulatory approval.
The problem is that the rate at which Bowleven is using cash will see it run out “most likely before summer 2024”.
The company completed the well in the summer. The HYSM-01 well is now producing 3,000 bpd of oil.
The Perenco SHARP development in the Southern North Sea has been running 18 months behind schedule, a project partner has reported.
Perenco confirmed on Thursday that it had secured two further carbon storage licences, building on the permit it announced earlier this week.
Oil and gas firm Perenco has been hit with a trio of safety improvement notices over the state of one of its Southern North Sea platforms.
Perenco announced it has secured a licence as part of the UK’s carbon storage round, enabling its Poseidon carbon capture and storage project to proceed.
Perenco has announced key milestones in its SHARP project, designed to add 10 more years of life to Southern North Sea gas developments.
“Thanks to our proven know-how and the use of innovative solutions, Perenco has once again demonstrated its ability to transform previously untapped deposits into sources of vital energy production.”
Eni reports production from 18 blocks, of which it operates 12 – with 10 offshore and two onshore. In the upstream, its focus is around the deep waters off Pointe Noire and, onshore, in Koilou.
Perenco has started up four new wells in Congo Brazzaville, on the Boatou permit.
Oilfield services firm Archer (OSLO: ARCH) has won a contract worth an estimated $50m with Perenco for work on its UK North Sea platforms.
Perenco has been warned by the UK’s safety regulator after multiple leaks on one of its Indefatigable platforms this year.
Perenco bought a 100% stake in the Pargo, Carapeba and Vermelho fields from Petrobras. After adjustments, Perenco paid $398 million for the assets offshore Rio de Janeiro state. It also took over the decommissioning liability.
Petrodec has successfully removed topsides from the A2D platform at the Amethyst field in the southern North Sea ahead of dismantling in the Netherlands.
Signing the MoU in early April, Gabon said Perenco was investing around $40 million in infrastructure. Gabon Power will put in around $84mn.
Appraisal drilling in the DE8 licence is also under way. Tullow said this could begin producing oil via Tchatamba infrastructure before the end of 2023. There are also more ILX opportunities on the DE8 licence.
Oil from the Poole Harbour pipeline leak has washed up on the shores of Brownsea Island - a wildlife haven and protected site of special scientific interest.
The MP for South Dorset said a Perenco oil spill in the area is "potentially catastrophic" but added he had received assurances that it is "not as serious as first thought".
Oil from the UK's largest onshore oil field has leaked into the water in Dorset, leading to a major incident being declared.
North Sea newcomer Hartshead Resources (ASX: HHR) has named a former Perenco and Ineos boss as its new chief operating officer (COO).
“We are pleased to be investing to help meet Gabon’s future energy demands, supporting the country in reducing its emissions, and delivering a project that will also create hundreds of direct and indirect employment opportunities.”
The French company operates 11 fields on- and offshore Congo, producing 25,000 bpd in 2021.
Offshore driller Valaris has announced a string of new contracts and extensions worth around $275 million, including four notable North Sea awards.
Perenco has reported drilling success at its PNGF Sud licence, in Congo Brazzaville, potentially opening a new play.