E&P Highlights: Feb. 26, 2024

From new contracts to technology updates, below is a compilation of the latest headlines in the E&P space. 

Contracts and company news

Investors Purchase Exxon’s Ursa Interest

Esperanza Capital Partners and Andros Capital Partners LLC are buying Exxon Mobil’s Ursa and Princess Field assets in the deepwater Gulf of Mexico (GoM), Andros announced Feb. 21.

The companies are also forming a strategic joint venture focused on acquiring and developing upstream and infrastructure assets in the deepwater GoM.

The acquisition of Exxon Mobil’s 15.96% interest in Ursa includes current production of about 8,500 boe/d net to Exxon Mobil’s interest as well as associated infrastructure. Shell operates Ursa. 

JERA Buys Scarborough Stake from Woodside

Woodside Energy announced Feb. 23 it is selling 15.1% non-operating interest in the Scarborough project to JERA for $1.4 billion.

The deal is expected to close in the second half of 2024. 

Woodside and JERA have also entered into a non-binding heads of agreement for the sale and purchase of six LNG cargoes on a delivered ex-ship basis per year for 10 years, starting in 2026. The Scarborough field is located offshore Western Australia, and gas from the field will be processed at the onshore Pluto LNG facility, where Woodside’s Pluto Train 2 is under construction.

Woodside Awards Trion Subsea Systems to Dril-Quip

Dril-Quip Inc. announced Feb. 22 it will supply the subsea wellhead systems for Woodside Energy’s operated Trion development offshore Mexico.

The Trion project, a greenfield deepwater development in the Mexican sector of the GoM, includes 24 wells across two phases. Dril-Quip is supplying BigBore IIe (BBIIe) Subsea Wellheads. The BBIIe system eliminates lockdown sleeves during drilling and production, which can save rig time and reduce costs. Dril-Quip's Villahermosa, Mexico, facility supports the Trion project.

Worley Wins Kearl Oil Sands Project

Imperial Oil Resources Ltd. awarded Worley a field construction contract related to the in-pit tailings infrastructure project at the Kearl oil sands facility in Alberta, Canada, Worley announced Feb. 19. 

Worley has executed field construction and module fabrication services on this project since 2021. This field construction contract, which is expected to take up to two years to complete, is for a subsequent phase of the project. 

Ambyint Upgrades ASM

Ambyint announced enhancement to its autonomous setpoint management (ASPM) functionality for both plunger and rod lift applications on Feb. 21. 

First introduced in 2017, ASPM is a suite of artificial intelligence (AI) models designed to assess and manage equipment operating parameters that determine whether a well is running optimally. Recent enhancements to ASPM software for rod lift wells include additional setpoint recommendations for both minimum and maximum SPM values, new gas interference classifications, increased flexibility to customize operational and safe operating limits and increased frequency of recommendations to respond to changing line pressure conditions.

Recent enhancements to ASPM software for plunger wells include improved recommendations that focus first on stabilizing plunger arrivals before moving into production optimization mode, enhanced integration of anomaly detection insights into the setpoint optimization workflow and increased frequency of recommendations to manage dynamic well conditions.

Equinor Extends AGR for Well Services

AGR, part of the ABL Group, said Feb. 21 it signed a contract extension with Equinor to provide blowout and well control studies on the Norwegian Continental Shelf (NCS).

Under the new two-year agreement, AGR will offer services such as blowout contingency planning, well control emergency response, casing magnetization service and general transient flow analyses.

Esso Taps Helix for Work Offshore Nigeria

Esso Exploration and Production Nigeria (Deepwater) Ltd. awarded Helix Energy Solutions Group Inc. a deepwater well intervention contract with the Q4000 for operations in the Erha and Usan Fields, Helix announced Feb. 26.

Helix expects to begin the project offshore Nigeria in September 2024 with work extending into 2025. The fields are in 700 m to 1,500 m water depth.

For the project, Helix will use the Q4000, a DP3 riser-based semi-submersible well intervention vessel, a 10k intervention riser system, remotely operated vehicles, project management and engineering services to cover fully integrated well intervention services from production enhancement to plugging and abandonment.

Equinor Signs Contract with Enhanced Drilling

Enhanced Drilling won a five-year frame contract from Equinor for operations on the NCS, the company announced on Feb. 21. 

The agreement, effective Feb. 1, covers using all enhanced drilling technologies, including CTS, RMR, MPC, EC-Drill and EC-Drill Dual MPD.

Goldilocks Pipeline Insulation Installed in GoM

ODYSEA announced Feb. 22 the successful offshore installation by Subsea7 of about 11 km of deepwater pipelines using ODYSEA's Goldilocks (GDLX) insulation technology.

The castable thermal insulation coating was applied to the flowline and riser pipes by ODYSEA for a global supermajor energy client in the GoM and installed in deepwater by Subsea7's Seven Oceans reel lay vessel.

The GDLX insulation technology, enabled by Exxon Mobil's Proxxima polyolefin thermoset resin systems, is applicable for line pipe, field joints and subsea structures.

TGS, Enertel Enter Strategic Partnership

TGS is partnering with Enertel to deliver access to TGS-licensed well data through Enertel’s QuantumCast software platform, TGS announced Feb. 21. The partnership will grant Enertel direct access to a customer’s entitled TGS well data, including the use of TGS’ application programming interfaces embedded directly within QuantumCast, facilitating enhanced operational efficiency and decision-making.

Ramform Hyperion Set for Mediterranean Project

An unnamed major energy company awarded PGS a 30-day 3D project in the Mediterranean, PGS announced Feb. 22. 

The Ramform Hyperion is scheduled to start the survey early March.

“After completing this project, the Ramform Hyperion will steam to the Norwegian continental shelf and commence well pre-funded MultiClient projects,” PGS President and CEO Rune Olav Pedersen said in a press release.

Honeywell Training Simulator Adds AR

Honeywell announced Feb. 21 it is adding augmented reality to its immersive field simulator (IFS) platform using a digital twin of a physical facility to provide on-demand training for the industrial workforce.

The new Immersive Equipment Views, an iPad-exclusive iOS application, mixes real-life environments with digital features and content for training outside a classroom Honeywell said. 

With Honeywell Immersive Equipment Views added to the IFS offering, trainees can practice troubleshooting and completing real-world tasks around a facility from an iPad. 

Tampnet Integrates with Microsoft

Offshore telecom operator Tampnet announced on Feb. 25 its integration with Microsoft. Tampnet will integrate Microsoft Azure private Multi-edge Compute to provide connectivity and digitalization solutions to the offshore community, enabling installations to automate and digitize operations with enhanced compute capabilities for AI and IoT data analysis.