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Upstream article about Venus appraisal well delayed....
Tied up: Vantage Drilling's Tungsten Explorer drillship is still busy in the East MediterraneanPhoto: VANTAGE DRILLING Namibia: TotalEnergies delays critical appraisal campaign on huge Venus discovery Two-well operation on ultra-deepwater find pushed back to tail end of this year 30 September 2022 11:08 GMT UPDATED 30 September 2022 14:54 GMT By Iain Esau in London TotalEnergies has been forced to delay by two months a critical appraisal drilling campaign on its huge Venus light oil discovery offshore Namibia because the rig it aims to use is tied up working for another major in Europe. Drilling operations in about 3000 metres of water in Block 2913B were due to start this month, but the two well-campaign is now only expected to begin in November or December, said an executive familiar with the supermajors plans. The official added that the operator may want to secure an alternative drilling unit, but the recent steep rise in day rates could negate that option. Namibia: Venus partner to raise $60 million for appraisal campaign Read more TotalEnergies had lined up the Tungsten Explorer drillship for the Namibian programme once Eni had wrapped up an exploration well in the East Mediterranean. However, after making a second gas discovery in Block 6 offshore Cyprus with its Cronos exploration probe, the Italian major exercised an option to keep the drillship to drill an appraisal well on the find. Keith Hill, chief executive of Africa Oil, which has exposure to Venus through its investment in Block 2913B partner Impact Oil & Gas, said earlier this month that TotalEnergies is scouting the market for an alternative rig. Total are looking for a replacement rig, but rig rates have gone up quite a bit. We may be better to stick with the one weve got. Its going to cost us a lot of money if we try to change things, I believe. World beater: TotalEnergies Venus discovery in Namibia may be biggest ever deep-water find Read more Assuming the operator sticks with the Tungsten Explorer, Hill said: Wed been hoping to spud this month, but I think were looking at late November, early December at the earliest. Venus has the potential to be an enormous discovery, with informed sources earlier this year suggesting it may hold some 12 billion barrels of oil and 20 trillion cubic feet of gas. Officially, the probe hit 84 metres of good quality net pay, but well watchers told Upstream that at as much as 250 metres of net pay may have been intercepted. Despite the excitement surrounding Venus, explorers are urging caution about its size and commerciality until the results of flow tests on both the appraisal well, which will be drilled first, and discovery well are known. Venus: TotalEnergies unveils timeline for Namibia appraisal campaign on 'very special' discovery Read more I know theres a lot of excitement around this discovery, but its only one well, TotalEnergies chief executive Patrick Pouyanne cautioned analysts this week in New York. Id like to see the appraisal (results) come in before I speak about it, but it appears to be a very large discovery, a giant one, even, he said. Hill agreed: People ask me how big Venus is. The answer is somewhere between zero and 15 billion barrels, but you dont know until you drill a couple more wells. He said: The reservoirs look good on logs but you want to see how they flow. You need some reasonable flow rates at that water depth to make the thing economic. Birch proving the doubters wrong on Namibia Read more TotalEnergies is really pushing the envelope with the appraisal well because its location is thought to be some 20 kilometres from the Venus-1X probe, giving an indication just how big the field could be. TotalEnergies has a 40% stake in Venus and is partnered by QatarEnergy on 30%, Impact Oil & Gas on 20% with state-owned Namcor holding 10%. Stay a step ahead with the Upstream News app Read high quality news and insight on the oil and gas business and its energy transition on-the-go. The News app offers you more control over your Upstream reading experience than any other platform. Read more No regrets: Tullow boss explains reasons behind Orange basin exit in Namibia At least three FPSOs on cards as Namibia urges fast-track development of Venus and Graff Namibia basks in glow from Venus What's next for Orange basin after Venus and Graff? Upstream is part of NHST Media group. To read more about NHST Media Group, click here ADVERTISE TERMS ABOUT US CONTACT US FAQ PRIVACY POLICY COOKIE SETTINGS
Upstream article about Venus appraisal well delayed....
Tied up: Vantage Drilling's Tungsten Explorer drillship is still busy in the East MediterraneanPhoto: VANTAGE DRILLING Namibia: TotalEnergies delays critical appraisal campaign on huge Venus discovery Two-well operation on ultra-deepwater find pushed back to tail end of this year 30 September 2022 11:08 GMT UPDATED 30 September 2022 14:54 GMT By Iain Esau in London TotalEnergies has been forced to delay by two months a critical appraisal drilling campaign on its huge Venus light oil discovery offshore Namibia because the rig it aims to use is tied up working for another major in Europe. Drilling operations in about 3000 metres of water in Block 2913B were due to start this month, but the two well-campaign is now only expected to begin in November or December, said an executive familiar with the supermajors plans. The official added that the operator may want to secure an alternative drilling unit, but the recent steep rise in day rates could negate that option. Namibia: Venus partner to raise $60 million for appraisal campaign Read more TotalEnergies had lined up the Tungsten Explorer drillship for the Namibian programme once Eni had wrapped up an exploration well in the East Mediterranean. However, after making a second gas discovery in Block 6 offshore Cyprus with its Cronos exploration probe, the Italian major exercised an option to keep the drillship to drill an appraisal well on the find. Keith Hill, chief executive of Africa Oil, which has exposure to Venus through its investment in Block 2913B partner Impact Oil & Gas, said earlier this month that TotalEnergies is scouting the market for an alternative rig. Total are looking for a replacement rig, but rig rates have gone up quite a bit. We may be better to stick with the one weve got. Its going to cost us a lot of money if we try to change things, I believe. World beater: TotalEnergies Venus discovery in Namibia may be biggest ever deep-water find Read more Assuming the operator sticks with the Tungsten Explorer, Hill said: Wed been hoping to spud this month, but I think were looking at late November, early December at the earliest. Venus has the potential to be an enormous discovery, with informed sources earlier this year suggesting it may hold some 12 billion barrels of oil and 20 trillion cubic feet of gas. Officially, the probe hit 84 metres of good quality net pay, but well watchers told Upstream that at as much as 250 metres of net pay may have been intercepted. Despite the excitement surrounding Venus, explorers are urging caution about its size and commerciality until the results of flow tests on both the appraisal well, which will be drilled first, and discovery well are known. Venus: TotalEnergies unveils timeline for Namibia appraisal campaign on 'very special' discovery Read more I know theres a lot of excitement around this discovery, but its only one well, TotalEnergies chief executive Patrick Pouyanne cautioned analysts this week in New York. Id like to see the appraisal (results) come in before I speak about it, but it appears to be a very large discovery, a giant one, even, he said. Hill agreed: People ask me how big Venus is. The answer is somewhere between zero and 15 billion barrels, but you dont know until you drill a couple more wells. He said: The reservoirs look good on logs but you want to see how they flow. You need some reasonable flow rates at that water depth to make the thing economic. Birch proving the doubters wrong on Namibia Read more TotalEnergies is really pushing the envelope with the appraisal well because its location is thought to be some 20 kilometres from the Venus-1X probe, giving an indication just how big the field could be. TotalEnergies has a 40% stake in Venus and is partnered by QatarEnergy on 30%, Impact Oil & Gas on 20% with state-owned Namcor holding 10%. Stay a step ahead with the Upstream News app Read high quality news and insight on the oil and gas business and its energy transition on-the-go. The News app offers you more control over your Upstream reading experience than any other platform. Read more No regrets: Tullow boss explains reasons behind Orange basin exit in Namibia At least three FPSOs on cards as Namibia urges fast-track development of Venus and Graff Namibia basks in glow from Venus What's next for Orange basin after Venus and Graff? Upstream is part of NHST Media group. To read more about NHST Media Group, click here ADVERTISE TERMS ABOUT US CONTACT US FAQ PRIVACY POLICY COOKIE SETTINGS
