A subsidiary of MODEC Inc. has successfully completed its contracted work-scope on a deepwater tension-leg platform (TLP) project for Hess Corp. as operator, the company said on Nov. 9.
The newly installed Stampede TLP is based on a conventional design supporting a gross topsides processing capacity of 80,000 barrels of oil per day and 100,000 barrels of water injection per day. The development calls for six subsea production wells and four water injection wells from two subsea drill centers tied back to the TLP.
The TLP is permanently installed on the Stampede deepwater oil and gas field in the Gulf of Mexico’s (GoM) Green Canyon Blocks 468, 511 and 512 which are about 185 km (115 miles) south of Fourchon, Louisiana. The field is located in approximately 1,067 m (3,500 ft) of water depth, with a reservoir depth of 9,144 m (30,000 ft).
MODEC successfully performed their work-scope which included engineering, procurement management, construction management and installation support of the hull and mooring systems of the TLP.
After performing the conceptual engineering, MODEC was awarded the pre-sanction contract from Hess in May 2013. Following the award, several milestones were achieved including the fabrication and installation of 12 foundation piles, the completion and transportation of the hull from South Korea to Ingleside, Texas, the integration of the topsides onto the hull and the fully integrated TLP being installed in the GoM site in May 2017.
MODEC was selected based upon its past TLP delivery success and client relationships including two previous TLPs for Hess-operated projects. The Hess-managed Stampede TLP was the sixth TLP project successfully executed by MODEC.
Recommended Reading
Keeping it Simple: Antero Stays on Profitable Course in 1Q
2024-04-26 - Bucking trend, Antero Resources posted a slight increase in natural gas production as other companies curtailed production.
NOV Announces $1B Repurchase Program, Ups Dividend
2024-04-26 - NOV expects to increase its quarterly cash dividend on its common stock by 50% to $0.075 per share from $0.05 per share.
Initiative Equity Partners Acquires Equity in Renewable Firm ArtIn Energy
2024-04-26 - Initiative Equity Partners is taking steps to accelerate deployment of renewable energy globally, including in North America.
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.
Ithaca Deal ‘Ticks All the Boxes,’ Eni’s CFO Says
2024-04-26 - Eni’s deal to acquire Ithaca Energy marks a “strategic move to significantly strengthen its presence” on the U.K. Continental Shelf and “ticks all of the boxes” for the Italian energy company.