off shore mag article

Apologies in advance if this is not anything new. Whilst I do hold I gave up following this a long time ago!!! I think this article was dated 4th May 09.

Big demand spurs hunt for big production in Asia/Pacific region
Gene Kliewer - Technology Editor, Subsea & Seismic
http://www.offshore-mag.com/Articles/Article_Display.cfm?Article_ID=361020

"The Asia/Pacific offshore business offers a host of scenarios for oil and gas operators. Deep water, remote operations, oil and natural gas discoveries, NOCs, IOCs, independents, language barriers, huge distances, and more all overlaid with a triangle of demand reaching from China to Australia to India. It is this demand which makes the Asia/Pacific region an element in operations equations around the world. China and India, in particular, are viewed as the “X” factors in the world’s energy future. The one consensus, however, is that demand for hydrocarbons by consumers will grow faster in the Asia/Pacific region than anywhere else in the world.

The other role that the region fills on the world stage is that of construction contractor for leading-edge deepwater FDPSO/FPSOs, drillships, and semisubmersible rigs to LNG and oil tankers and service and supply vessels.

With that in mind, this discussion centers on exploration and production. Domestic and international operators are active in every prospective area of the region and are meeting with some success. Following are some examples:

Australia
The Delegate of the Joint Authority of the Offshore Area of the External Territory of Ashmore and Cartier islands has offered Nexus Energy a production license designated AC/L9 in relation to the Crux liquids project in the Browse basin, offshore Western Australia.

The license would have an indefinite term and apply to the entire area previously defined by the AC/P23 exploration permit covering the Crux field and the Auriga and Caelum structures. The award of the production license is the final regulatory approval milestone to permit sanction of the Crux liquids project. Nexus is in talks with Single Buoy Moorings for the supply and operation of an FPSO for Crux.

Since completing drilling at its 100%-owned West Seahorse field in the Gippsland basin last year, 3D Oil has undertaken a comprehensive evaluation of the field’s subsurface. The revised evaluation provides an update and an increase to the reserves provided in August 2008.

“A combined 2P reserves and best estimate contingent resource (P50) of 8.7 MMbbl of recoverable oil is now interpreted to exist at West Seahorse,” says Noel Newell, MD of 3D Oil. “3D Oil is actively reviewing options to develop West Seahorse, including seeking an appropriate joint venture partner.”

West Seahorse contains three separate oil zones: the N1 (Top Latrobe), the N2.6, and the P1 (both intra-Latrobe) formations. Reservoirs are thick, stacked fluvial channel sandstones and expected to have high flow rates, supplemented by strong water drive, typical of Gippsland basin Latrobe Group reservoirs.

Both N1 and N2.6 currently produce commercial volumes of oil in Seahorse field, operated by the joint venture of Esso Australia Resources and BHP Billiton Gippsland 'basin..... '

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