Filed under: maps | Tags: Argentina, BHP Billiton, Borders and Southern Petroleum, cute wars, Falkland Islands, Malvinas, North Sea, oil production, Rockhopper, Sea Lion, UK oil production
From oilvoice.com: http://www.oilvoice.com/n/Falkland_Islands_The_New_North_Sea/614e4d43b.aspx
The prospect of the Falkland Islands developing into a major oil producing region has captured the imagination of geologists and investors alike for decades. For many, the area has significant potential as a new ‘North Sea’, bringing opportunities for oil and services companies for years to come. The exploration area surrounding the Falklands to which the UK has a territorial claim is some fifty percent larger than the UK’s portion of the North Sea. In fact, despite being thousands of miles apart there are many similarities between the two. Environmental conditions and water depth are comparable to those west of the Shetland Islands, whilst in terms of geology the basins of the Falkland Islands possess structures similar to those found in the North Sea. The exploration area itself is separated into the geologically distinct North Basin, where the Sea Lion discovery was made, and the South Basin where fellow explorers Falkland Oil & Gas and Borders and Southern Petroleum intend to embark on their own campaign from the end of 2011 having secured an additional rig.
Despite the recent success, there are still those who doubt the Falkland Islands will ever see large scale oil production.
Filed under: Uncategorized | Tags: Brent, energy demand, North Sea, oil consumption, oil demand, oil price predictions, peak oil, the breaking point, US oil demand
Via Stuart Staniford’s Early Warning:
However, it’s also worth noting that the price required to make consumption decline has increased over time. In 2006-2007, prices of around $70 were enough to make oil consumption flatten and then decline. However, in late 2009 and 2010, similar prices obtained while consumption continued to rise. It took the rise to over $100 in spring 2011 to get consumption to start to decline again.
Filed under: Uncategorized | Tags: Natural gas, natural gas leak, Nigeria, North Sea, Obite, Rivers state, Total Petroleum
Maybe if they only talk about one of them, the public will think it’s the only one…
The leak at its Obite natural gas site has forced the company to evacuate those nearby and led to daily monitoring of air and water surrounding the plant in Nigeria’s Rivers state. However, Total’s Nigerian subsidiary hasn’t made any public statement about the leak since it likely began following an incident March 20, though the company has given near-daily updates about a similar leak at a plant off the United Kingdom in the North Sea.
Filed under: Uncategorized | Tags: blowout, Elgin, Eric Casse, gas leak, North Sea, relief well, TOT, Total, Total SA
I don’t think he was supposed to say that…
PARIS (Dow Jones)–Drilling relief wells near the Elgin oil rig in the North Sea to stop a natural gas leak may take more than six months, French oil major Total SA (TOT), which owns the rig, said Friday.
“The time taken to drill wells in Elgin surpassed six months so it is right to expect a similar timeframe (for the relief wells operation),” Eric Casse, Total’s Drilling & Well Operations Manager for Europe, the Americas and Central Asia said in a video posted by Total on its website.
Filed under: Uncategorized | Tags: Elgin, Elgin gas leak, energy, Exclusion zone, Hans Deul, Natural gas, North Sea, Shearwater
Another monster from the deep.
A cloud of gas was reported to be surrounding the platform, which is located 150 miles (240km) off Aberdeen.
Workers from a second platform and drilling rig have been removed.
Shell has moved 120 non-essential staff from the Shearwater platform and Hans Deul drilling rig, about four miles from the Elgin, because of the drifting gas.
Filed under: Uncategorized | Tags: depletion, energy, England, North Sea, oil depletion, oil production, oil production declines, oil supply, peak oil, UK, UK oil production
For any modern nation, a 22% decline in oil production would be significant over the course of a decade. A 22% drop over a mere 12 months ought to be front-page news, yet this radical decline has passed relatively unnoticed.
Filed under: Uncategorized | Tags: Azerbaijan, Brazil, Canada, depletion, North Sea, Norway, OECD, Oh Heck, oil supply, OPEC, peak oil, Reguly, Saudi Arabia
Like this Eric Reguly character of the Globe and Mail:
Why hasn’t the high price triggered a production surge? The biggie, it seems, is that the non-OPEC countries are simply not up to the job. As Barclays points out, non-OPEC supply last year landed at a full one million barrels a day less than forecast by the International Energy Agency. The North Sea (whose production is shared by Britain and Norway) continued its terminal decline. Brazil and Azerbaijan were also the scenes of production disappointments.
Meanwhile, OPEC, dominated by Saudi Arabia, is sweating exceedingly hard. OPEC production volumes are at three-year highs, to the point that the cartel has only about 1.6 million barrels a day of spare capacity, and still prices are climbing.
Filed under: Uncategorized | Tags: Brent, Brent crude, energy, Greece, Iran, North Sea, oil price, oil production, peak oil, price of oil, Reuters, WTI
Crude oil output from the North Sea, home of the global Brent benchmark, is set to fall in March for a third month due to maintenance work and natural aging of oilfields there.
Supply will average 2.18 million barrels per day in March, down 1.4 percent from 2.12 million bpd the previous month, data compiled by Reuters showed on Tuesday.
This report was the product of at least four reporters and two editors.
Filed under: Uncategorized | Tags: energy, energy production, North Sea, Norway, oil exports, oil production
I guess they didn’t try to sell these discoveries as “game-changers” to their domestic population the way they do in the U.S.
Filed under: Uncategorized | Tags: Bob Beamon, Iran, Iranian Revolution, North Sea, oil supply, supply disruption
“If Hormuz was to be disrupted, we’re talking the biggest disruption the oil market has ever seen,” said Blanch.
“We’ve never seen anything like it, and that’s why we think it’s very unlikely,” he said.
The disruption associated with the Iranian Revolution in ’79 holds the current record. Even Bob Beamon’s record got taken out. (Didn’t it?)
After that disruption, the global supply problem was temporarily fixed in large part due to huge reservoirs that were discovered many years prior to the Iranian Revolution, in Alaska and the N. Sea, coming on line.
This time, we have cooked sand.