Richard F.
Stubbe
Hart Energy
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From a joint venture providing geothermal drilling services to a bright outlook for exploration in Suriname, below is a compilation of the latest headlines in the E&P space.

Activity

ConocoPhillips Agrees to Sell Interest in GoM Fields to Shell

ConocoPhillips announced the sale of its interests in the Ursa and Europa fields in the Gulf of Mexico to Shell for $735 million, subject to customary closing adjustments. Subsidiaries Shell Offshore Inc. and Shell Pipeline Co. are the new owners.

Shell now has a 61.35% interest in its operated Ursa platform, pipeline and associated fields after acquiring Conoco’s 15.96% stake. Conoco’s share of the Europa prospect was 1%.

CNOOC Brings Luda 5-2 North Oilfield Project Online

CNOOC Ltd. announced that Luda 5-2 North Oilfield Phase II Development Project has commenced production. CNOOC is the owner-operator.

The project is in the central part of the Bohai Sea, with an average water depth of approximately 30 m. It is expected to achieve a peak production of approximately 6,700 boe/d in 2026. The oil property is heavy crude, making it the first oilfield to produce from super heavy oil reservoirs through thermal recovery in China.

Suriname Set for Exploration Boost After Guyana Discoveries

At least 10 wells will be drilled offshore Suriname by the end of 2026 as operators in neighboring Guyana extend their exploration, Rystad Energy analysts said.

Rystad forecasts capital investments in Suriname’s upstream sector to reach $9.5 billion between this year and 2027, driven largely by ongoing development of the TotalEnergies-operated GranMorgu project and planned exploration campaigns. Last year’s total was $514 million.

Shell, TotalEnergies and Chevron are leading exploration efforts in Suriname. Shell’s Araku Deep-1 well is set to spud or to begin drilling operations later this year.

FPSO Almirante Tamandaré Achieves First Oil Offshore Brazil

SBM Offshore announced that FPSO Almirante Tamandaré is formally on hire as of February 16 after achieving first oil and completing a production test.

The unit is installed at the Búzios unitized field in the Santos Basin, 180 km offshore Rio de Janeiro in Brazil. The Búzios unitized field is operated by Petrobras (88.99%) in partnership with CNODC (3.67%) and CNOOC (7.34%).

The vessel is the largest oil-producing unit in Brazil with a processing capacity of 225,000 bbl of oil and 12 MMcm/d of gas. It is the first unit in Brazil to receive a Sustainability-1 Notation2 certification. It is owned and operated by special purpose companies owned by affiliated companies of SBM Offshore (55%) and its partners (45%).

Amplus Energy Acquires Petrojarl I FPSO

Petrojarl
The FPSO Petrojarl I, built in 1986, has changed hands. (Source: Amplus Energy Services)

Amplus Energy Services Ltd. has entered into an agreement to acquire the Petrojarl I vessel from Altera Infrastructure. The vessel, which recently completed a successful deployment in Brazil, began operations in 1986.

Amplus said Petrojarl I is available for multiple applications with minimal modification.

Contracts and company news

Elemental Energies, Iceland Drilling Launch Geothermal JV

Elemental Energies and Iceland Drilling Co. have announced a joint venture (JV) providing integrated well engineering and project delivery solutions for the global geothermal market.

Elemental specializes in subsurface, well engineering and well management. Iceland Drilling is a geothermal drilling services contractor.

The JV will support increasing project demand by integrating well engineering, subsurface, drilling and project management. The JV will offer a full suite of integrated services from feasibility studies to project management.

“By combining our technical expertise in subsurface and well engineering with Iceland Drilling’s advanced geothermal drilling services, we are in a strong position to lead the charge in delivering scalable solutions to the global geothermal market,” said Mike Adams, CEO of Elemental Energies.

TotalEnergies Selects IFS as Platform for Managing Asset Portfolio

Software provider IFS said that TotalEnergies has selected IFS Cloud as the single platform for management and servicing of its global operated asset portfolio.

The IFS Cloud will be the maintenance platform for all of TotalEnergies’ assets for exploration, production, refining and chemicals.

Xodus Awarded Contract to Support Planned CCS Hub in Japan

Global energy consultancy Xodus has secured a landmark contract to support the development of an advanced carbon capture and storage (CCS) hub in Japan.

The company will design the pipeline and cable geotechnical surveys for the Offshore Western Kyushu CCS project.

Strohm, Unitech Plan to Develop New Subsea Connector System

Thermoplastic composite pipe manufacturer Strohm and subsea connections system provider Unitech Offshore signed a memorandum of understanding to develop and market an integrated system for transporting fluids and gases.

The two companies are creating a subsea, end-to-end jumper connection solution without flange, which reduces the risk of leaks and simplifies the installation process. Unitech’s connector will be integrated with Strohm’s TCP end-fitting, creating a flange-less interface.

Integrated fluids and gases transportation system
Strohm and Unitech have signed a memorandum of understanding to commercialize an integrated system for the transportation of fluids and gases. (Source: Strohm)

TWMA Joins Partnership for Exploration Project Offshore Egypt

Drilling waste management specialist TWMA announced a partnership with a multinational energy operator for its inaugural exploration project in Egypt.

The company will provide onshore waste management services from its Alexandria facility. The scope includes managing, transporting, treating and disposing of all waste streams, as well as tank cleaning and other cargo carrying units for supply vessels.

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