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From findings regarding a 2021 offshore fatality to new contracts, below is a compilation of the latest headlines in the E&P space.
Contracts and company news
Shearwater, Petrobras Team Up on Seismic Tech
Central to the endeavor is Shearwater’s marine vibrator, which the company promises significant gains in operational efficiency, seismic data quality and reduced sound emissions when compared to traditional methods. This commitment will include the industrialization of Shearwater’s marine vibratory source technology and associated services for Brazilian offshore basins.
Jersey Sells Some Interest in GBA Licenses
Once the farm-out is complete, Jersey will hold 20% interest in the GBA licenses. NEO is the operator of the Buchan project.
On Nov. 17, Jersey announced Buchan operator NEO acquired the Western Isles FPSO, operational since 2017 and planned for the Buchan field redevelopment project. That project calls for five subsea production wells and two water injection wells tied back to the FPSO. Jersey said work is progressing on the FEED studies required for field development plan approval and moving into the execution phase of activities. Approval of the Buchan FDP is scheduled for 2024, with first production forecast for late 2026.
MODEC Signs MOU for Drone Inspections
MODEC Inc. said Nov. 21 it signed a memorandum of understanding with Terra Drone Corp. for the technical development of inspection drones for FPSOs.
Regular maintenance and inspections are needed to ensure the integrity of FPSOs, but manual inspections at heights and in confined spaces pose significant occupational safety and health concerns.
Terra Drone's Terra UT Drone conducts inspections using ultrasonic testing capabilities for non-destructive testing. By developing drone technology that enhances safety, labor-saving and efficiency in inspection operations, MODEC and Terra Drone contribute to the sustainable operation of offshore structures.
Seatrium Delivers FLNG Vessel for BP Project
The vessel will be stationed in 30 m water depth along the Mauritania and Senegal maritime border and is expected to begin production in 2024.
Gimi FLNG was converted from a 1975-built Moss LNG carrier with a storage capacity of 125,000 cubic m. It is designed for 20 years of operations on-site without dry docking, and has a liquefaction capacity of 2.7 million tonnes per annum (mtpa).
Santos Taps McDermott for Campbell Decom Job
The Campbell platform is part of the Varanus Island Hub offshore infrastructure. McDermott will provide project management and engineering services for the removal and transportation of the platform topsides, substructure and associated items to an onshore facility, where it will be dismantled and disposed of.
Equinor Contracts Expro for NCS Well Tests
Expro will deliver services under the four-year contract using its local team in Stavanger, supported by its fluids center in Haugesund. The work scope includes well flow management and production optimization services to enhance Equinor’s assets across completion, intervention, production and abandonment operations. The work scope will also see the delivery of hydraulic intervention well services using Expro’s CoilHose Light Well Circulation System.
BW Completes FPSO Purchase
The FPSO, with 1.6 MMbbl of storage capacity, is producing about 10,000 bbl/d of oil from the Golfinho field offshore Brazil. It recently underwent repairs and upgrades and can produce over 100,000 bbl/d.
BW first announced the FPSO purchase in June 2022.
BP Picks Well-Safe for Decommissioning Agreement
Earlier this year, Well-Safe decommissioned wells in BP’s Kate Field in the North Sea.
Equinor Selects KCA for Jackup Electrification Work
Equinor awarded KCA Deutag a contract for work related to electrifying Equinor’s Askepott jackup in Norway, KCA announced Nov. 20.
KCA’s Kenera business unit will deliver the project, scheduled for completion in the fourth quarter of 2024. Askepott will receive power from high-voltage cabling via the Martin Linge A platform.
For the project, Kenera will convert the existing mud treatment room on Askepott to an electrical power room and install transformers, variable frequency drives and high-voltage switch boards certified to DNV classification requirements. Kenera will provide a turnkey solution from initial procurement, detailed engineering, installation and commissioning before handing the project to Equinor and KCA Deutag’s team in Norway for operations onboard the Askepott jackup.
CGG Sells ARGAS Stake to TAQA
The deal, expected to close this year, is part of CGG’s plan, launched in 2018, to become an “asset-light company,” CGG’s CEO Sophie Zurquiyah said in a press release.
BSEE Issues May 2021 Fatality Report, Safety Alert
The Bureau of Safety & Environmental Enforcement (BSEE) on Nov. 21 released its panel investigation report on a May 15, 2021 fatality of an Island Operating Co. employee contracted to work on Fieldwood Energy’s Eugene Island Block 158 No. 14 Platform in the Gulf of Mexico.
The BSEE panel determined that pressurized gas and liquid escaped, causing an explosion from introducing a gas supply without the use of a pressure regulator or pressure safety valve, which over-pressured the casing.
Further, the panel concluded that the operators did not fully complete multiple pre-job planning and hazard assessments exercises before starting the task.
BSEE’s subsequent safety alert to offshore operators included recommendations such as verifying pressure ratings and compatibility for all temporary equipment being used, along with using a pressure regulating device and a pressure safety valve to protect against overpressure to minimize the likelihood that a similar incident will occur in the future.
2024-02-20 - Oil prices fell on Feb. 20 with an uncertain outlook for global demand knocking value off crude futures contracts.
2023-12-12 - Total interstate gas sample receipts averaged 6.3 Bcf/d, as Permian Basin gas volumes met California demand.
2024-01-03 - After regularly setting production records in 2023, analysts expect E&Ps to slow production as prices drop and wait for new LNG export facilities to come online.
2024-01-17 - Venezuela’s state-owned PDVSA contributed income equivalent to US$6.2 billion to government coffers in 2023, Venezuela’s President Nicolás Maduro Moros said during his annual National Assembly address.
2024-01-18 - Daily oil and gas output is forecasted to decline from shale basins across the Lower 48 in February—except from the mighty Permian Basin, according to new Energy Information Administration figures.