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Global and Regional Markets

Equinor strengthening subsea collaboration with Aker Solutions and TechnipFMC

Equinor is signing collaboration agreements with Aker Solutions and TechnipFMC for subsea equipment and services on the Norwegian continental shelf (NCS) and internationally. For several decades, the subsea segment has been central in developing Equinor and the NCS. The company is operating close to 600 subsea wells, which account for a considerable share of the company’s total production. Norwegian supplier industry is in the forefront of subsea technology, development and operation. “We are building on many years of good cooperation with two world-leading suppliers in the subsea segment,” Margareth Øvrum, Equinor’s Executive Vice President for Technology, Projects & Drilling, said. “Together with TechnipFMC and Aker Solutions we aim to further develop current solutions and keep up the pressure on continuous improvements ...

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Interior proposes region-wide oil and gas lease sale for Gulf of Mexico

In support of President Donald J. Trump’s America-First Offshore Energy Strategy, Deputy Secretary of the Interior David Bernhardt and Bureau of Ocean Energy Management (BOEM) Acting Director Walter Cruickshank today announced that BOEM proposes to offer 78 million acres for a region-wide lease sale scheduled for March 2019. The sale would include all available unleased areas in federal waters of the Gulf of Mexico. “The development of our offshore energy resources is a major pillar of this Administration’s energy strategy,” said Mr Bernhardt. “We all benefit from a strong offshore energy program, which provides thousands of well-paying jobs, as well as affordable and reliable energy Americans need to heat homes, fuel our cars, and power our economy.” Lease Sale 252, scheduled ...

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Cormorant-1 well update

Tullow Oil announced that the Cormorant-1 exploration well in the PEL-37 licence, offshore Namibia, encountered non-commercial hydrocarbons and the well is being plugged and abandoned. The well has been drilled to a total depth of 3,855 m and penetrated the objectives of the Cormorant prospect. Sandstones were encountered in the primary objective of the well, but these proved to be water bearing. Wet gas signatures, indicative of oil, were encountered in the overlying shale section. Important geological data has been gained from this well, and, in combination with high-quality 3D seismic data, will provide valuable insights into the prospectivity of the Group’s Namibian acreage in PEL-37 and PEL-30. The Cormorant-1 well was drilled safely and efficiently by the Ocean Rig Poseidon drillship in ...

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Maersk Drilling awarded deepwater contract offshore Ghana by Aker Energy

Maersk Drilling has signed a contract with Aker Energy for Maersk Viking, an ultra-deepwater drillship, to drill the Pecan-4A appraisal well offshore Ghana. The contract covers one firm well with an expected duration of 30-35 days, with options for additional wells. The contract is expected to commence in Q4 2018. The Maersk Viking is currently warm-stacked in the Gulf of Mexico and will imminently commence its voyage to Ghana. “Maersk Drilling is very pleased to support Aker Energy and its license partners, building upon our operational track record in Ghana, and our strong relationship with the Aker Group,” Morten Kelstrup, Chief Commercial and Innovation Officer of Maersk Drilling, said. “The contract for Maersk Viking marks our third rig operating in Ghana. We ...

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Pemex and Block 7 Consortium sign pre-unitization agreement

Pemex and Talos Energy, as operator of the Block 7 Consortium, are pleased to announce that Pemex and the international Block 7 Consortium (Talos Energy, Sierra Oil and Gas, and Premier Oil) have signed a pre-unitization agreement related to certain tracts within the Amoca-Yaxche-03 allocation (assigned to Pemex as part of Round 0) and the contiguous Block 7 production sharing contract (assigned to the consortium by the National Hydrocarbons Commission as part of the first tender of Round 1). Both areas are situated in the offshore portion of Mexico’s prolific Southeast Basin. This is the first pre-unitization agreement ever to be signed in Mexico. Under the country’s recently revamped legal and regulatory framework, this two-year agreement enables information sharing related ...

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Noble announces purchase of newbuild jackup and secures initial contract award

Noble announced the purchase of a new Gusto MSC CJ46 design jackup rig from the PaxOcean Group (PaxOcean) in connection with a concurrently awarded drilling contract. Noble paid $33.75 million of the $93.75 million purchase price in cash, with the remainder of the purchase price, or $60 million seller-financed at a 4.25% interest rate paid in cash and 1.25% paid in kind over the term of the financing. The company used existing cash balances for the initial payment and the secured seller-financed amount is to be repaid in four years.  The company also has an option for the purchase of a second newbuild CJ46 jackup from PaxOcean. The newbuild jackup, to be named the Noble Johnny Whitstine, was built at ...

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Transocean Norge to drill for Equinor

Equinor awarded Transocean a contract for drilling six wells on the Norwegian continental shelf (NCS) by use of the Transocean Norge mobile rig. Drilling start-up is scheduled for the summer of 2019. The rig has also been awarded a contract option for drilling four additional wells and is intended for subsequent continuing options. Transocean has previously signed a framework agreement with Equinor. Transocean Spitsbergen was the company’s first rig to be included as per the framework agreement terms, and Transocean Norge will be the second. The services covered by the contract include drilling services such as slop treatment and cuttings handling, and part of the mobilization fee. Transocean will operate the Transocean Norge and has a 33% interest in the joint ...

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West Hercules to drill more exploration wells

Seadrill Norway has been awarded a contract for drilling two exploration wells for Equinor in the Barents Sea by use of the West Hercules rig. Drilling is scheduled to start in the spring of 2019. The contract includes options for drilling nine additional wells. The rig is primarily assigned for exploration drilling. The contract is based on a master framework agreement established between Seadrill and Equinor. The rig owner is responsible for integrated drilling services, such as casing running, remote-operated vessel, slop treatment and cuttings handling. “We have already prepared a drilling program for West Hercules, scheduled to start this autumn,” Geir Tungesvik, Equinor’s Senior Vice President for Drilling & Well Services, said. “We are now looking forward to continuing our cooperation ...

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Smart partnerships, advanced planning enable marginal field projects for Vestigo Petroleum

As a marginal field operator, Vestigo Petroleum realized at the onset of the downturn that the company must think unconventionally if it is to succeed in an era of lower oil prices. The operator, a subsidiary of Petronas Carigali, has since adopted a strategy that incorporates smart partnerships and significant advanced planning in order to complete projects where well costs are 40-50% of the project CAPEX. In this video from the 2018 IADC/SPE Asia Pacific Drilling Technology Conference on 29 August in Bangkok, Thailand, DC Managing Editor Linda Hsieh speaks with Fauzi Abbas, Head of Well Engineering for Vestigo, about the company’s work scope and how common goals can be set across teams to achieve operational excellence.

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