From the Fenja Field going online to an offshore Alaska memorandum of understanding covering oil spills, below is a compilation of the latest headlines in the E&P space.
Activity headlines
Fenja subsea tieback online
The Neptune Energy-operated Fenja Field in the Norwegian Sea has begun production, the company announced April 28.
The field is expected to produce 35,000 boe/d via two oil producers, with pressure support from one water injector and one gas injector. The two subsea templates in 325 m water depth are tied back via a 36-km electrically trace-heated (ETH) pipe-in-pipe to the Equinor-operated Njord A platform.
Neptune said the Fenja tieback is the world’s longest ETH subsea production pipeline.
Total reserves are estimated between 50 MMboe and 75 MMboe, of which 75% is oil and 25% is gas.
Neptune operates the field with 30% interest on behalf of Vår Energi (45% interest), Sval Energi (17.5%) and DNO (7.5%).
Wassana Field restarts
Valeura Energy announced on April 28 that production had resumed at its Wassana Field in the Gulf of Thailand after being offline for three years. Production at the field is expected to continue ramping up. An infill drilling campaign is scheduled for the third quarter of 2023.
Palang Sophon Ltd. is farming out of License G10/48, which includes the Wassana Field. By taking over PSL’s 11% interest, Valeura becomes 100% operator of the license.
Contracts and company news
Petrobras refocuses its organization
Petrobras announced on April 26 it is shaking up its organizational structure, effective May 1.
The revision is intended to create an energy transition and sustainability executive office aimed at preparing Petrobras for the energy transition. It combines the current production development executive office and the Leopoldo A. Miguez de Mello Research and Development Center (Cenpes) to rename it as the Engineering, Technology and Innovation Executive Office.
Other aspects of the reorganization are intended to streamline the company’s corporate activities.
PGS releases new dataset
PGS has released a new Angola Central Basin Time screening dataset, offering the opportunity to evaluate open acreage for proven pre- and post-salt plays in readiness for the 2025 licensing round, the company announced on April 20.
The new time product comprises 26,300 sq km of full stack GeoStreamer 3D data located in the deepwater Kwanza Basin, extending over blocks 24, 25, 38, 39 and 40, which will be open for bidding in the 2025 licensing round. The volume has been processed to PSTM, and the volume images proven hydrocarbon accumulations in both pre- and post-salt reservoirs and reveals the subsurface at twelve drilled locations.
Pre-stack time migration.
Shearwater wins 4D survey
Shearwater GeoServices announced on April 26 it had received a 4D survey contract in Cote d'Ivoire.
Starting in May, in direct continuation of ongoing surveys in the region, the SW Empress will conduct the two-month project.
Shelf rigs win gigs
Shelf Drilling recently reported a pair of new contracts.
Under a two-well, 270-day contract with Equinor announced April 28, Shelf Drilling’s Barsk jackup rig will carry out operations at the Sleipner Vest Field located in the Norwegian Continental Shelf between May 2023 and July 2024. The contract value for the firm period, excluding certain integrated services, is $61 million. The contract includes options for two additional wells.
Shelf Drilling also received a short-term contract for the Adriatic I valued at $11 million for an unnamed client. On April 25, Shelf announced the 90-day contract is slated to begin in early May 2023.
New product keeps an eye on ESP performance
Halliburton launched a cloud-based, cross-platform web application that allows operators to design, build and analyze electric submersible pump (ESP) performance, the company said on April 26.
SpyGlass makes it possible for operators to access real-time analytic data and reports on ESP performance and health from their devices around the world.
Espoir Ivoirien FPSO extended
BW Offshore Ltd. announced on April 26 it had signed a short-term extension for the lease and operation of the FPSO Espoir Ivoirien. The extension through June 1 buys time for client discussions to potentially purchase the FPSO. The FPSO is operating on the Espoir Field offshore the Ivory Coast.
ABB providing electrical system for P-82 FPSO
ABB announced April 27 it will supply the electrical system automation for the topside and hullside for a Petrobras-operated ultra-deepwater field offshore Brazil.
Sembcorp Marine awarded ABB the contract to deliver the complete electrical system automation for the P-82 FPSO, destined for the Búzios Field.
Regulatory updates
Offshore Alaska oil spill response MoU updated
The Bureau of Safety and Environmental Enforcement (BSEE) announced April 27 it had signed an agreement with the Alaska Department of Environmental Conservation (ADEC) to update a nearly 30-year-old memorandum of understanding (MOU) regarding coordination of oil spill planning, preparedness and response offshore Alaska.
The new agreement updates and replaces the 1994 MOU.
The MOU calls for BSEE and ADEC to cooperate in carrying out their respective regulatory responsibilities and to identify opportunities for innovative and effective implementation of oil spill planning, preparedness and response monitoring. Each must exercise its own rule making responsibilities independently and in accordance with applicable laws and procedures, but the two may coordinate to the extent possible on rule making initiatives. In conducting drills, the parties will follow the objectives of the National Preparedness and Response Exercise Program.
“Using this approach will improve consistency in monitoring spill preparedness safeguards for offshore facilities where oil and oil production-related fluids are stored, processed or transported,” BSEE Preparedness Verification Branch Chief Bryan Rogers said in a press release.
Recommended Reading
Utica Oil E&P Infinity Natural Resources Latest to File for IPO
2024-10-05 - Utica Shale E&P Infinity Natural Resources has not yet set a price or disclosed the number of shares it intends to offer.
Post Oak Backs Third E&P: Tiburon Captures Liquids-rich Utica Deal
2024-10-15 - Since September, Post Oak Energy Capital has backed new portfolio companies in the Permian Basin and Haynesville Shale and made an equity commitment to Utica Shale E&P Tiburon Oil & Gas Partners.
Aethon, Murphy Refinance Debt as Fed Slashes Interest Rates
2024-09-20 - The E&Ps expect to issue new notes toward redeeming a combined $1.6 billion of existing debt, while the debt-pricing guide—the Fed funds rate—was cut on Sept. 18 from 5.5% to 5%.
ConocoPhillips Hits Permian, Eagle Ford Records as Marathon Closing Nears
2024-11-01 - ConocoPhillips anticipates closing its $17.1 billion acquisition of Marathon Oil before year-end, adding assets in the Eagle Ford, the Bakken and the Permian Basin.
Investor Returns Keep Aethon IPO-ready
2024-10-08 - Haynesville producer Aethon Energy is focused on investor returns, additional bolt-on acquisitions and mainly staying “IPO ready,” the company’s Senior Vice President of Finance said Oct. 3 at Hart Energy’s Energy Capital Conference (ECC) in Dallas.
Comments
Add new comment
This conversation is moderated according to Hart Energy community rules. Please read the rules before joining the discussion. If you’re experiencing any technical problems, please contact our customer care team.