Noble Energy and partners will build a pipeline linking Equatorial Guinea’s offshore gas fields to an onshore LNG plant to boost exports, the African nation’s government said April 1.
Under a deal with the government the 70-km (44-mile) pipe will have capacity for 950 million cubic feet of gas per day from fields operated by Noble and will be ready in first-quarter 2021.
Once liquefied at the export plant, which is run by Marathon Oil, the gas will be shipped to markets across the globe.
Sonagas GE, the state-run gas company, will increase its stake in the project to 30% from 25%.
The gas will come from a joint venture called the Alen Unit, located in two offshore blocks, and is expected to contribute between $1.5 billion and $2 billion to state revenues over the course of the project, the government statement said.
Equatorial Guinea hopes to create a gas export hub from its offshore fields after revenues were hit by a dip in oil prices and production since 2014.
The majority of the acquired interests are focused within Continental Resources’ SpringBoard III project area located in the southern SCOOP play in Oklahoma, PHX Mineral said in a release.
With the Eagle Ford Shale expansion, Wyatt Water Solutions also rebranded under Goodnight Midstream.
McDermott International Inc. on Nov. 5 appointed Chris Krummel as executive vice president and CFO, effective immediately.