Exxon reports fire, oil spill at Nigeria terminal

Exxon Mobil Corp. said thunderstorms caused a tank fire June 27 and an oil spill today, June 29, at the Mobil Producing Nigeria Qua Iboe Terminal it operates in Akwa Ibom state.

Offshore production and loading of oil continue, the Irving, Texas-based company said in an emailed statement. No fatalities or injuries were reported. The amount of oil lost to the fire and spill hasn’t been calculated, the company said.

Lightning ignited the tank and the fire was extinguished by noon local time June 27, according to the statement.

Lightning knocked out power to the terminal again today, resulting in a spill. Emergency response systems were activated to contain it, shoreline restoration has begun and relevant authorities and community leaders notified, according to the statement.

Providing useful resources, articles and writings on crude oil, other petroleum products, energy and gas. By Giftelyon Multi-Sevices Int'l Ltd and services, UK, online.

Polarcus to acquire 3D seismic offshore West Africa

Polarcus reported that the company has received a Letter of Intent for a 3D marine seismic acquisition project for an undisclosed client offshore West Africa.

The project, subject to the execution of a service contract, will commence in July 2014 and is expected to run for approximately three months.

Providing useful resources, articles and writings on crude oil, other petroleum products, energy and gas. By Giftelyon Multi-Sevices Int'l Ltd and services, UK, online.

MedcoEnergi buys oil and gas blocks in Tunisia

Medco Tunisia Petroleum, has entered into an agreement, effective 1 January 2014, to acquire 100% of the shares of Storm Ventures International from Storm Ventures International “Seller” for a base purchase price of $ 114.03 million, excluding an amount payable forworking capital (which is subject to a customary post-closing adjustment). The Seller is a subsidiary of Chinook Energy, which is listed on the Toronto Stock Exchange. SVI (together with its subsidiaries) is one of the leading active exploration and production companies in Tunisia, with a participating interest in eight working areas.

SVI’s interest in Tunisia comprises four exploration areas, two development areas and two production areas with concession periods of either 30 or 50 years. Out of these eight areas, five are located onshore and three are offshore. All of SVI’s blocks are located in prolific hydrocarbon areas. Five onshore blocks (Adam, Sud Remada,Bir Ben Tartar, Jenein and Borj El Khadra) are located in the Ghadames Basin, while the remaining three offshore blocks (Cosmos, Hammamet and Yasmin) are located in the Pelagian Basin off the northeast coast of Tunisia.
The completion of this acquisition is conditional upon, amongst other things, approval from the Government of Tunisia and the consent of certain existing partners in the blocks. Upon completion of the acquisition, MedcoEnergi anticipates adding 2P reserves and oil-and-gas production (net working interest before royalties, taxes and Government take) by 12.3 MMboe and 2,800 Boepd, respectively.

Production is envisaged to increase to approximately 16,000 Boepd from in fill well drilling of the existing producing block (Bir Ben Tartar) and the development of the Cosmos and Yasmin blocks (scheduled for completion in 2018) is expected to add a further 12.6 MMboe of 2P reserves.

Providing useful resources, articles and writings on crude oil, other petroleum products, energy and gas. By Giftelyon Multi-Sevices Int'l Ltd and services, UK, online.