From a milestone at Atlanta Phase 1 to new contracts, below is a compilation of the latest headlines in the E&P space.
Activity headlines
Atlanta Phase 1 Milestone Reached
Enauta Participações SA said Feb. 5 that it had reached milestones on its Atlanta Phase 1 project offshore Brazil in January.
The early system is fully producing, with three wells in operation averaging more than 21,000 boe/d.
On Jan. 21, the first subsea multiphase pumping system (MPP), manufactured by OneSubsea, was loaded in Norway bound for Brazil. The MPP will be installed to support Atlanta’s oil and gas production and its on-scheduled delivery highlighted one of the key challenges to reach the FPSO Atlanta’s first oil schedule by August 2024.
Contracts and company news
Saipem Reports Castarone Incident
Saipem reported an early morning Jan. 30 incident on the Castorone pipelay vessel off the waters of Australia during normal pipelay operations.
Saipem said there were no injuries. Saipem said the vessel didn’t sustain major damage but reported localized damage to the trunkline. Saipem said the damage will be remediated.
In a follow-up release, Saipem said a buckle occurred while laying pipeline. An initial investigation indicated a software anomaly could be the cause.
Titania Jackup Wins Work offshore Mexico
Paratus Energy Services Ltd. announced Feb. 1 that SeaMex Holdings Ltd. and related subsidiaries won a one-year contract for the Titania jackup in Mexico from an unnamed customer.
The new contract will contribute approximately $55 million in backlog and is expected to begin in mid-February 2024.
TGS, SLB for GoM OBN Acquisition
TGS, in collaboration with SLB, announced on Feb. 5 the Engagement 5 Ocean Bottom Node (OBN) multi-client acquisition in the U.S. Gulf of Mexico.
The seventh program within the seismic joint venture involves the acquisition of 157 Outer Continental Shelf blocks covering 3,650 sq km through a long offset, sparse OBN survey that will start in the first quarter of 2024.
The expansion of data coverage in the eastern region of Green Canyon will adjoin with prior phases, establishing a continuous coverage area spanning over 23,000 sq km from the Mississippi Canyon area in the east to the Garden Banks area in the west.
The project is supported by industry funding.
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Repsol to Drop Marcellus Rig in June
2024-04-26 - Spain’s Repsol plans to drop its Marcellus Shale rig in June and reduce capex in the play due to the current U.S. gas price environment, CEO Josu Jon Imaz told analysts during a quarterly webcast.
US Drillers Cut Most Oil Rigs in a Week Since November
2024-04-26 - The number of oil rigs fell by five to 506 this week, while gas rigs fell by one to 105, their lowest since December 2021.
CNX, Appalachia Peers Defer Completions as NatGas Prices Languish
2024-04-25 - Henry Hub blues: CNX Resources and other Appalachia producers are slashing production and deferring well completions as natural gas spot prices hover near record lows.
Chevron’s Tengiz Oil Field Operations Start Up in Kazakhstan
2024-04-25 - The final phase of Chevron’s project will produce about 260,000 bbl/d.
CNOOC’s Suizhong 36-1/Luda 5-2 Starts Production Offshore China
2024-02-05 - CNOOC plans 118 development wells in the shallow water project in the Bohai Sea — the largest secondary development and adjustment project offshore China.