E&P Highlights: March 25, 2024

Activity headlines

VAALCO Plans Venus FEED

VAALCO Energy said March 25 it is moving forward with its FEED study for its Block P project offshore Equatorial Guinea.

The announcement follows the government of Equatorial Guinea’s approval of a joint operating agreement related to the already approved Venus-Block P plan of development.

VAALCO CEO George Maxwell said in a press release he expects assets in Block P to begin production in the next few years. The FEED study will lead to a final investment decision for the Venus development in Block P. 

Atlanta Field FPSO On Its Way 

The FPSO Atlanta is on its way to the Enauta Participações-operated Atlanta Field offshore Brazil, Enauta announced March 20. 

The FPSO has completed sea trials, and the journey to the field in the deepwater Santos Basin will last about a month and a half. On arrival, anchoring and submarine systems connection operations will begin.

First oil is targeted for August 2024.

Contracts and company news

ROCS Ordered for Equinor’s Irpa Project

Equinor awarded Optime Subsea a contract for two remotely-operated control systems (ROCS) for use at the operator’s Irpa Field development, Optime Subsea announced March 21.

Equinor previously ordered ROCS for use at its Rosebank Field, west of Shetland, U.K., the company said.

The ROCS eliminate the need for both the umbilical, which traditionally connects the surface to the seabed for controlling the tubing hanger in subsea well completions, and the topside hydraulic control unit. 

Optime Subsea will manufacture the two systems at its headquarters in Notodden, Norway, and deliver them to Equinor’s offshore base at Sandnessjøen in North Norway in 2025. 

Equinor will use one system for a well completion campaign at Irpa—formerly Asterix—that is planned for 2026, while the other will be a back-up system. Irpa, in 1,350 m water depth in the Norwegian Sea, is being developed as a subsea tieback to the Aasta Hansteen FPSO.

Wood Snags Shell Trinidad & Tobago Agreement

Wood’s joint venture company, Massy Wood, secured a five‑year framework agreement with Shell Trinidad and Tobago for engineering projects and asset support in the twin-island nation, Wood said March 19.

This agreement will support Shell’s onshore and offshore assets, providing services that include support for mature brownfield assets and new greenfield projects.

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Oceaneering Collaborating with GDi

Oceaneering International’s Integrity Management and Digital Solutions group is collaborating with Global Design Innovation Ltd. (GDi) to deliver innovative digital asset management solutions for the oil and gas industry, among others, Oceaneering announced March 20.

The agreement with Aberdeen-based GDi will allow Oceaneering to provide customers digital solutions, including a technology-focused approach to remote support, inspection and digital asset management services that can increase safety, data quality and cost efficiency.

As part of the collaboration, Oceaneering will use GDi’s vision software solution

for streamlining inspection processes. This technology allows remote assessment of external

conditions, eliminating the necessity for frequent on-site physical inspections and allowing Oceaneering to optimize personnel presence on-site, leading to cost savings and enhanced operational efficiency.

ChampionX Buying RMSpumptools

ChampionX Corp. plans to acquire RMSpumptools Ltd., a business unit of the energy division of U.K.-based James Fisher and Sons Plc, ChampionX announced March 22.

The unit designs and manufactures highly engineered mechanical and electrical solutions for complex artificial lift applications. ChampionX said the integration of RMSpumptools technology will enhance ChampionX's production and automation technologies portfolio and strengthen its presence in the Middle East, Latin America and global offshore developments.

The net purchase price is about $110 million at current exchange rates, inclusive of net working capital adjustments.