Here’s a roundup of the latest E&P headlines, with a major project starting production in the Gulf of Mexico and the latest BLM proposal for oil and gas leases in North Dakota.
From Chevron’s Anchor project beginning production to SBM Offshore receiving a contract for Woodside’s Trion development, below is a compilation of the latest headlines in the E&P space.
Activity headlines
Chevron’s Anchor Project Begins Production in Gulf of Mexico
Chevron’s Anchor project is beginning production five years after taking FID in 2019. (Source: Chevron)
Chevron has started oil and natural gas production from the Anchor project in the deepwater Gulf of Mexico (GoM), the company said on Aug. 12.
Anchor production marks the successful delivery of high-pressure technology rated to safely operate at up to 20,000 psi, with reservoir depths reaching 34,000 ft below sea level, Chevon said in a press release. The $5.7 billion project reached final investment decision (FID) in 2019.
Total recoverable resources from the Anchor Field are estimated to be up to 440 MMboe. The Anchor semisubmersible floating production unit (FPU) has a gross design capacity of 75,000 bbl/d of oil and 28 MMcf/d of natural gas.
The Anchor development will consist of seven subsea wells tied into the Anchor FPU, located in the Green Canyon area, approximately 140 miles (225 km) off the coast of Louisiana, in water depths of approximately 5,000 ft (1,524 m).
The Anchor FPU is Chevron's sixth operated facility currently producing in the GoM. Chevron's operated and non-operated facilities in the Gulf are expected to produce a combined 300,000 net boe/d by 2026.
To reduce carbon emissions, the Anchor FPU was designed as an all-electric facility with electric motors and electronic controls. Additionally, the FPU utilizes waste heat and vapor recovery units as well as existing pipeline infrastructure to transport oil and natural gas directly to U.S. Gulf Coast markets.
Chevron, through its subsidiary Chevron U.S.A. Inc., is operator and holds a 62.86% working interest in the Anchor project. Co-owner TotalEnergies E&P USA Inc. holds a 37.14% working interest.
TGS Enhances 2D Seismic Project Offshore Indonesia
TGS has completed the reprocessing of a 2D seismic survey in Indonesia’s Sumatra basin, the company said on Aug. 6.
The 7,756 km, 2D reprocessing project covered the Pase sub-basin of the North Sumatra Basin. Recent discoveries such as Timpan-1, Layaran-1 and Tangkulo-1 all lie within the basin, providing important well calibration points, the press release said.
The combined 2D and 3D data will enhance the understanding of existing discoveries and shelfal wells along the southern and eastern margins of the basin.
Contracts and company news
Petrobras Awards Halliburton with P&A Contract Offshore Brazil
Petrobras has awarded Halliburton a multi-year contract for integrated well interventions and plug and abandonment (P&A) services offshore Brazil, according to an Aug. 8 press release.
Halliburton will provide a wide range of services to include fluids, completion equipment, wireline, slickline, flowback services and coiled tubing. The contract covers two-thirds of all interventions and (P&A) work for Petrobras in Brazil.
The multi-year contract is set to begin in second-quarter 2025.
ABS to Lead Safety Engineering Program at the Al Shaheen Field
Genesis North America commissioned ABS to support the RUYA Project, a production capacity improvement plan for the North Oil Co.-operated Al Shaheen field in Qatar, ABS said Aug. 8.
An ABS advanced analysis team will lead a safety engineering program to provide risk mitigation and asset integrity support. ABS will also perform studies such as dropped object analysis for subsea pipelines and cables.
Al Shaheen is one of the world’s largest carbonate fields and is the largest oil field offshore Qatar, approximately 70 km northeast of Ras Laffan. The RUYA project aims to boost production of the Al Shaheen field by approximately 100,000 bbl/d of oil.
SBM Offshore Awarded FSO Contract for Woodside’s Trion Development
A 3D model of the semisubmersible to be used on the Trion project. (Source: Woodside)
SBM Offshore signed a contract with Woodside, operator of the Trion deepwater oil field in the Gulf of Mexico, for the construction and leasing of a new floating storage and offloading (FSO) unit.
Under the contract, announced Aug. 8, SBM Offshore will construct and lease the FSO to Woodside for a period of 20 years. The newbuild FSO, based on a Suezmax-type hull, will be equipped with a disconnectable turret mooring (DTM) system designed by SBM Offshore. The FSO will be moored in water depth of about 2,500 m and will be able to store around 950,000 bbl of crude oil.
Woodside operates Trion with a 60% stake in the project. PEMEX holds the remaining 40%.
ConocoPhillips Awards Raptor Data P&A Verification and Validation Contract
ConocoPhillips has awarded Raptor Data Ltd. a contract for the manufacture and deployment of Raptor’s Pathfinder acoustic telemetry technology for wellbore plug verification, the companies said Aug. 7.
“This contract will enable Raptor to deploy systems to ConocoPhillips operations and demonstrate the operational value of this technology for right-first-time barrier installation with quantifiable assurance metrics,” said Paul McClure, Raptor CEO.
Pathfinder uses wellbore pressure, temperature, distributed temperature and broadband statistical acoustic analytics to ensure reliable and effective wellbore plug installations. The advanced verification and validation equipment will ensure that wellbore plugs are installed reliably and performing as designed.
Pantheon Secures Rig for Megrez-1 Well
Pantheon Resources has secured Nabors’ 105AC rig to drill the Megrez-1 exploration well, the company said on Aug. 12. The Megrez-1 well will target the topset sands in Alaska’s Ahpun East project area, which Pantheon estimates to contain 609 MMboe and 3.3 Tcf of natural gas.
The rig will be mobilized after completion of siteworks for the construction of a gravel pad, which is scheduled to begin in September. Drilling operations are expected to begin in the fourth quarter.
Pantheon also paid the remaining portion of the fees for 46 new oil and gas leases acquired in Alaska’s 2023W Areawide oil and gas lease sale in December 2023. Thirty of the leases are located in the Kodiak Field, with the remaining 16 covering the Ahpun East topset play. The State of Alaska will execute and issue the leases in the coming weeks.
Pantheon Resources is owner of 100% working interest in the Kodiak and Ahpun oil fields.
Fox Innovation & Technologies Acquires Cotter Holdings Group
Fox Innovation & Technologies, provider of advanced high-speed rotating equipment, announced its acquisition of rotating machinery services company Cotter Holdings Group on Aug. 5. Financial terms of the transaction were undisclosed.
This acquisition, encompassing Cotter Group’s portfolio—S.T. Cotter Turbine Services, Axis Mechanical Group and Axis Industrial Repair Services—will enhance Fox’s field operation capabilities and expand its footprint across the U.S. Fox will be leveraging the Cotter Group’s field experience executing critical service projects to provide a comprehensive and efficient full-service solution to clients.
Miros Supports Pipelay Operations CCS Project in Norway
The 109-km pipeline will be used for the Northern Lights CO2 transport and storage project. (Source: Miros)
Miros successfully deployed their cloud-enabled WaveSystem to support pipelay operations on project vessels for the Northern Lights CO2 CCS project, the company announced Aug. 7.
Miros provided accurate sea state measurements in real-time, ensuring efficient and safe pipelay operations for Northern Lights, Norway’s first license for CO2 storage on the Norwegian Continental Shelf.
Comprised of Miros’ Wavex and RangeFinder technology, the WaveSystem enables safe and highly reliable offshore operations by sharing sea state data through the Miros Cloud platform. Project vessels were able to confidently navigate the offshore environment and successfully complete 109-km pipeline.
Regulatory updates
BLM Proposes Closing Oil and Gas Leasing in North Dakota
On Aug. 8, the U.S. Bureau of Land Management (BLM)’s North Dakota Field Office proposed the closing of oil and gas leasing in any area of the state with low development potential as part of a resource management plan (RMP) for the state.
The proposed plan updates the 1988 North Dakota RMP to better balance energy and mineral development while supporting outdoor recreation, cultural resources and sustaining a healthy habitat for plant, wildlife and fish species across North Dakota. In the U.S., the Bakken play stretches primarily from North Dakota to Montana. Under the proposal, the BLM would also close state-designated drinking water source protection areas.
The plan, including a final environmental statement, was published in the Federal Register Aug. 9, triggering a 30-day comment period for protests to the plan and a 60-day consistency review by the governor’s office.
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