Search

You may also like

36 Views
Burna Boy wins 2020 BET Best International Act award.
International News - Local news - News -

Burna Boy wins 2020 BET Best International Act award.

Burna Boy has just won the BET Award for Best International Act. The Nigerian superstar edged out other nominees including Innoss’B (DR Congo), Sho Madjozi (South Africa), Stormzy (United Kingdom), Dave (United Kingdom), Ninho (France) and S.Pri Noir (France) to claim the highly coveted award. […]

36 Views
Benzema backheel better than Guti's – Zidane
International News - News - Sport -

Benzema backheel better than Guti's – Zidane

Karim Benzema’s classy backheel assist in Real Madrid’s win prompted Zinedine Zidane to compare it to those of former playmaker Guti. Source link 0 0 vote Article Rating Related posts: England boss Southgate says Rice's social media post won't affect team standing Skriniar representatives tell […]

36 Views
Monalisa Chinda Coker shares rare photos of herself and her hubby
Celebrities - Comedy - Entertainment - Local news - Movies - Music - News -

Monalisa Chinda Coker shares rare photos of herself and her hubby

Monalisa Chinda Coker has shared photos of herself and her husband on social media. Monalisa and her hubby got married in 2016 and she has kept him out of the public eye. Taking to Instagram today June 28, she wrote;''As long as I am locked down […]

www.gistpad.com.ng

Melbana granted extra time for Beehive work obligations

Melbana granted extra time for Beehive work obligations


Australian offshore regulator has granted Melbana Energy the approval to suspend the deadline for completion of the current WA-488-P permit year work obligations by 12 months.

Melbana
Energy said on Friday that its application for a 12-month suspension of the
work program conditions in respect of Permit Year 3 was approved by the National
Offshore Petroleum Titles Administrator (NOPTA).

According to
the company, the suspension for the WA-488-P permit came with a corresponding
extension of the permit term.

As a result,
Permit Year 3 now ends on 21 December 2021 and the permit term will end on 21
December 2023.

This is not the first time Melbana received a suspension for this particular permit. Namely, NOPTA approved Melbana’s deadline suspension for completion of Permit Year 3 work obligations by 15 months back in September 2018.

Completion
of work obligations, which include drilling an exploration well on the permit, was
suspended until 21 December 2020.

As for the
permit, WA-488-P contains the giant Beehive prospect – a carbonate build-up
that has been independently assessed to have a prospective resource of 388
million barrels of oil equivalent (best estimate).

A 3D seismic survey has been completed over the prospect and considerable progress has been made on planning and permitting for an exploration well.

Melbana
stated that Beehive has the potential to open a new, possibly very large, play
type in Australian waters.

Suitors backed out

It is worth noting that Santos allowed its option to acquire an interest in Melbana’s Beehive permit lapse in March this year.

Santos and
Total each had an option to acquire a 40 per cent share in the Beehive permit.
However, Total last November decided not to proceed with the acquisition, which
gave Santos an option to acquire an 80 per cent interest in return for funding
100 per cent of the costs for an exploration well in the permit area.

Initially,
Santos had until early December 2019 to exercise the modified option, which was
exercised. However, the deal was conditional on Santos finding a partner to
take a share of Santos’ 80 per cent.

Since Santos
was not able to conclude a farm-out with a third party, its option to acquire the
80 per cent interest, in return for agreeing to fund the drilling of one
exploration well in the permit, expired. Therefore, Santos no longer had any
right to acquire an interest in the permit.

Melbana,
with its 100 per cent interest in the permit, is in discussions with potential
partners to join it in drilling a Beehive exploration well. So far, it has not
been able to find any.

At the time,
Melbana did reveal its intent to seek an extension to its obligation to drill
an exploration well by December of this year to align with expected rig
availability in 2021.

The post Melbana granted extra time for Beehive work obligations appeared first on Offshore Energy.



Source link

0 0 vote
Article Rating
Related topics Animals, Dogs, People
Previous post Next post

Your reaction to this post?

Subscribe
Notify of
guest
0 Comments
Inline Feedbacks
View all comments

You may also like

0 Views Views
See the complete list of winners at the 2020 BET Awards
People

See the complete list of winners at the 2020 BET Awards

The BET Awards, which honor Black excellence in entertainment and sports, held its first-ever virtual ceremony on Sunday night due to the ongoing Coronavirus pandemic. The event, hosted by former Real co-host Amanda Seales was also the 20th-anniversary of BET. It was aired simultaneously via ViacomCBS networks and, for […]

0 Views Views
Ned Nwoko shows off his wives and children (photo)
People

Ned Nwoko shows off his wives and children (photo)

Ned Nwoko showed off his family on Instagram. The photo features the politician, his Moroccan wife Laila Charani, his youngest wife Regina Daniels, and his young kids. "Family," he captioned the photo.  This comes days after he shared another photo of his family posing in a private jet.   The post […]

0 Views Views
Burna Boy wins 2020 BET Best International Act award.
People

Burna Boy wins 2020 BET Best International Act award.

Burna Boy has just won the BET Award for Best International Act. The Nigerian superstar edged out other nominees including Innoss’B (DR Congo), Sho Madjozi (South Africa), Stormzy (United Kingdom), Dave (United Kingdom), Ninho (France) and S.Pri Noir (France) to claim the highly coveted award. […]

0
Would love your thoughts, please comment.x
()
x