Seismic Survey
“Tis sale further confirms that RT System 2 is an ideal technology for passive monitoring projects,” said Roy Kligfield, Wireless Seismic ceo. “We continue to add capabilities to RT System 2 to broaden its range of applications and to take advantage of its unique abilities to deliver real-time seismic data without the limitations of cables.”
Field developments WHL Energy is pushing ahead with exploration of its La Bella gas and condensate field in the Otway Basin, offshore Victoria, Australia, with the signing of a contract to acquire a key 3D seismic survey in mid-November. AWE is funding 75 per cent of the cost of survey up to a cap of US$12 million (€8.8 million) to earn a 60 per cent stake in VIC/P67 while Tap Oil is paying 20 per cent of the survey cost up to US$2.95 million (€2.2 million) for the option to acquire a 10 per cent equity interest. Data from the 3D survey will assist with confirmation and definition of the La Bella gas and condensate resource and progress its development
planning and commercialisation. It will also further define several exploration targets in the La Bella area that will be considered for drilling in early 2015. La Bella is estimated to contain contingent
resources of 114 petajoules of gas and 1.4 million barrels of condensate. Te field’s commercialisation is expected to be quick given its proximity to gas pipeline and processing infrastructure and the growing Eastern Australian gas market. In the USA TGS is to launch a new 3D multi- client onshore survey, Rush Creek, covering 161.5 square miles in Roger Mills County, Oklahoma and Hemphill County, Texas, that will build on an existing 62 square miles 3D survey that it recently purchased. Once the volumes are merged, the Rush Creek survey will illuminate subsurface targets in the Granite Wash, Hogshooter, Cleveland Sands, Atoka and Tonkawa geological trends. Acquisition has just begun, using a high channel count vibroseis crew. Data processing will be performed by TGS and final data will be available to clients in the second quarter of 2014. ●
Large shale gas reserves in Europe promise growth for the pumps market
G
reater political acceptance of shale gas exploration and the growing need among
European countries to be self-sufficient in terms of energy is expected to result in the growth for the pumps market. Pump manufacturers, though, may not be
able to capitalise on this potential as concerns on the environmental impact of fracking are likely to curb shale gas exploration activities by oil and gas companies. New analysis from Frost & Sullivan, Strategic
Analysis of the Pumps Market in the European Shale Gas Industry, finds that the market earned revenues of $35.3 million in 2012 and expects this to reach $47.7 million in 2017. “Vast shale gas reserves across Europe and
the economic benefits of shale gas exploration will encourage exploration,” said Frost & Sullivan Industrial Automation and Process Control Research Analyst Niranjan Paul. “However, the potential growth of pump manufacturers targeting the region’s shale gas industry will vary according to the country.” While the United Kingdom, Ukraine and Poland
are at the forefront of shale gas production in order to meet energy requirements and reduce dependency on Russian gas imports, the industry
will be affected by uncertain policies of local governments in other countries. For instance, France and the Netherlands have
enforced a ban on shale gas exploration as hydraulic fracturing activities may cause earthquakes and the pollute drinking water. Moreover, although Germany and the
United Kingdom have issued permits, large-scale exploration is yet to begin since the feasibility of commercial shale gas production in Europe remains doubtful. For example, ExxonMobil withdrew from Poland
after the drilling of two gas wells failed to yield commercial opportunities. In Germany and Austria, oil and gas companies
are required to conduct environmental impact studies for every shale gas project, escalating costs and significantly reducing the commercial viability of shale gas exploration. Nevertheless, pump vendors will continue to
find growth pockets as oil and gas companies such as Royal Dutch Sell and ConocoPhillips continue exploration activities during the forecast period. Shell is likely to conduct seismic testing and
drill test wells in Ukraine, while Chevron is looking to stake capital in shale gas exploration in Poland and Romania.
“In fact, proponents of the shale gas industry in
Europe predict that increased exploration would be beneficial to countries affected by the slowdown, as it is expected to attract investments from major oil and gas companies, result in job creation, and provide significant tax revenue for governments,” added Paul. “To benefit form these opportunities and
ensure market expansion, pump manufacturers must develop high-pressure pumps that will be suitable for applications in the shale gas industry.” Meanwhile, the European Power Conversion
Market in Oil and Gas Industry earned revenues of $908.7 million in 2012 and estimates this to reach $1,151.9 million in 2017. The research covers electric drives and electric motors, with the latter cornering 78.9 per cent of the market share. However, electric drives have the higher
growth rates due to their high-tech, energy-saving functions and ability to decrease downtime costs through control and efficient rotating assets. They have also demonstrated an ability to reduce the costs of upstream, midstream and downstream activities. ●
For more information, visit
www.frost.com
www.engineerlive.com 81
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