29-01-09 Global Industries has announced that it's wholly owned subsidiaries -- Global Pipelines Plus Nigeria and Global Offshore International -- have entered into a contract with a West African client to provide the transportation, installation and related services associated with the replacement and repair of a 24-inch pipeline offshore Nigeria. The contract is valued at approximately $ 100 mm and mobilisation is scheduled to begin this month. Global will be utilising its pipe-lay barge Cheyenne, assisted by a number of support vessels, to install the 24-inch replacement pipeline.
John Clerico, Global's chairman and chief executive officer, stated that, "We expect the award of this 2009 project to be the first step in our return to profitability in this region."

Meanwhile, Mart Resources has disclosed that drilling work is progressing at the Qua Ibo-3 well in the Niger Delta, which has now reached a total depth (TD) of 10,037 feet (7,367 feet vertical depth). The company said, "The D5 reservoir target was encountered at the anticipated depth of 9,816 feet (7,220 feet vertical depth). A suite of open-hole logs were run that have shown the D5 zone to be water-bearing at this location."
"A cement plug is being installed at the bottom of the casing and the well has been suspended. All other operations on the site will also be suspended pending an analysis and evaluation of the drilling results. Mart and its partner, Network Exploration & Production Nigeria Limited (the operator of the Qua Ibo field) intend to revise their interpretation of seismic data over the field based upon the results of the Qua Ibo-3 well."

The Qua Ibo field was discovered in 1960 by Shell-BP, who acquired 2D seismic over the field and drilled two wells. Both of these wells encountered oil in two zones, the D5 and C4 reservoirs, but the field was not put into production.
Depending on the results of the full analysis of the Qua Ibo 3 well, one possible option would be to drill a sidetrack to a different position within the D5 reservoir. Appraisal of the C4 reservoir has been planned for a subsequent well. Also, drilling of the UMU-5 well is ongoing and has achieved a depth of 7,374 feet.