Oil Equivalent News

Map by BHP

BHP Taps DORIS for Trion Work

kilometers and is located in the Perdido belt at a water depth of approximately 2,570 meters. BHP is the operator holding a 60% interest in the development and PEMEX is the non-operating partner with a 40% interest.The Australian company recently said that Trion held 222 million barrels of oil equivalent (boe) net 2C resources. The company expects additional exploration drilling in the Trion block in 2021, targeting the opportunity to tie back prospects to future Trion hub. "Whilst still in the early stages, we are targeting a project breakeven of below $50 per barrel of oil equivalent

Equinor’s Hywind Tampen project will use floating wind turbines to provide power to the Snorre and Gullfaks oil and gas production facilities.  (Image: Equinor)

Offshore Energy Outlook for 2020

innovative technologies and collaborative methods led by operator Equinor alongside partners Lundin, Total, Aker BP and Petoro.The largest development in Norway for three decades, the field is expected to produce for more than 50 years, tapping expected recoverable reserves of 2.7 billion barrels of oil equivalent. Once full field production is underway, Johan Sevrdrup will be able to produce up to 660,000 barrels of oil per day at peak. Simply put, that’s a lot of hydrocarbons. But, leveraging electricity power from shore, the field has record-low CO2 emissions below 1 kilogram per barrel &ndash

(Image: Schlumberger)

OneSubsea to Supply 20K SPS for Chevron's Anchor

;kickstart the next wave of investments in US Gulf of Mexico.”“Anchor is the first of three 20,000 psi projects that Wood Mackenzie expects to reach FID within the next 18 months,” he said.“We estimate that these three projects combined hold approximately 1 billion barrels of oil equivalent in reserves and will require over $10 billion of capital investments.&rdquo

(Image: Subsea 7)

Aker Solutions, Subsea 7 Win Ærfugl Subsea Scope

collaboration with InterPipe, to deliver leading insulation performance and enable cost-effective long-distance tiebacks.”The Ærfugl reservoir is mainly a gas reservoir that extends over 60 kilometers and is 2-3 kilometers wide. The project holds a total of around 300 million barrels of oil equivalent, and the field design includes capacity to accommodate future tiebacks in the area.Aker BP said total investment costs for the Ærfugl project are around NOK 8 billion ($880 million). The total ‘life of field’ project has a break-even-price of around $15 per barrel (converted

Image: Kosmos Energy

Orca-1 is Largest Gas Discovery of the Year

On 28 October 2019 oil giant BP announced a major gas discovery, Orca-1, exploration well in the BirAllah area off the coast of Mauritania.“The deepest and largest discovery so far this year, Rystad Energy estimates Orca-1 holds around 1.3 billion barrels of oil equivalent (boe) of recoverable resources,” says Palzor Shenga, a senior analyst on Rystad Energy’s upstream team.Offshore continues to dominate exploration in 2019, both in terms of the number of discoveries and the volume of resources unearthed. Boosted by the find, Mauritania now ties Guyana for the second most discovered

(Image: Shell)

TechnipFMC Tallies Shell PowerNap Award

and flowlines.Shell announced FID for the project earlier this month.PowerNap is a subsea tieback project to the Olympus production hub and is located in Mississippi Canyon, Block MC943. The project is expected to complete installation in late 2021 and produce up to 35,000 barrels per day of oil equivalent at peak rates

(Image: Neptune Energy)

TechnipFMC Bags Seagull iEPCI Award

to growing our operational footprint on the UKCS.”Neptune, which acquired its 35% interest in Seagull from Apache in 2018, is the operator of the project. Its joint venture partners are BP with 50% and JAPEX with 15%.The development is expected to initially produce around 50,000 barrels of oil equivalent (boe) per day (80% oil) across its 10-year design life. Proved plus probable gross reserves are estimated at 50 million boe

(Photo: Rolf Skjong / Wintershall Dea)

Subsea Templates Installed on Nova Field

.”Wintershall Dea holds a 45% share as Nova operator. Its partners in the project include Capricorn Norge AS (a fully owned subsidiary of Cairn Energy PLC) (20%), Spirit Energy Norge AS (20%) and Edison Norge AS (15%).The expected recoverable reserves from Nova are around 80 million barrels of oil equivalent (boe), of which the majority will be oil. The partnership is investing almost €1.1 billion ($1.2 billion) in the development of the Nova field, which is expected to come on stream in 2021.Alv Solheim, Managing Director in Norway, said, “The Nova field is a cornerstone of Wintershall

Pic: Inpex Corporation

Inpex Wins Exploration Acreage Offshore Norway

the North Sea began in the 1960s, resulting in the discovery of numerous large-scale oil and gas fields. Thereafter, exploration activities have expanded north to the Norwegian Sea and the Barents Sea.In recent years, oil and gas fields estimated to hold reserves of several hundred million barrels of oil equivalent have been discovered in succession in the Barents Sea, which is considered to be a promising area where further hydrocarbon discoveries are believed possible.The acquisition of these licenses is aligned to Inpex’s pursuit of the “sustainable growth of oil and natural gas E&P activities

Atlantis platform (Photo: BP)

TechnipFMC Scores Contract for BP's Atlantis Phase 3

of gas per day.The phase 3 development, which includes the construction of a new subsea production system from eight new wells that will be tied into the current platform, is scheduled to come onstream in 2020 and  is expected to boost production at the platform by an estimated 38,000 barrels of oil equivalent a day (boe/d) gross at its peak, BP said. It will also access the eastern area of the field where the advanced imaging and reservoir characterization identified additional oil in place

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