Up to 10 FPSOs could be needed to develop the prolific oil and gas resource base on the Stabroek Block, according to partner Hess Corp.
The 90-day contract, valued at US$13.6 million, begins in second-quarter 2022, the company said in a news release.
The oil find continues the privately held E&P company’s drilling success at its Spruance discovery made by LLOG and its partners in the deepwater Gulf of Mexico in mid-2019.
Upstream activity will fuel the region as a leader on the road to recovery.
North Dakota’s oil production rose about 12% to 1.16 million barrels per day (MMbbl/d) in August as more wells and drilling rigs resumed production after a drop earlier this year, the state's regulator said on Oct. 16.
The project was delayed by one year to 2024 because of the coronavirus pandemic, according to a securities’ filing Oct. 16.
SBM Offshore lands contract for FPSO, while TechnipFMC secures work for the subsea system for the development.
Kinder Morgan's pipeline, Lockridge, is designed to remove natural gas from the Permian Basin where pipeline capacity has not kept up with the amount of gas associated with oil production.
Lundin Energy has raised its reserve estimate for Norway’s Edvard Grieg oil field by 50 million barrels of crude, an increase of 17%, and boosted output plans for the coming years, the Swedish company said on Sept 29.