February 2018
News & Resources

Companies in the News

Kreuz Subsea has secured a contract supporting Larsen & Toubro (L&T) and Oil & Natural Gas Corp. (ONGC) in India.
Emily Querubin / World Oil

Kreuz Subsea has secured a contract supporting Larsen & Toubro (L&T) and Oil & Natural Gas Corp. (ONGC) in India. The firm will mobilize five vessels to deliver subsea completion work, including the installation of riser clamps, risers, crossing works and tie-ins, plus subsea trenching and hydro-testing of pipelines. The work will be carried out as part of ONGC’s Pipeline Replacement Project and Daman field development projects, situated off of India’s western coast. The five vessels, including the DP2 purpose-built SURF vessel Kreuz Installer (pictured), reportedly will be utilized in the Mumbai High and Daman fields. Photo: Kreuz Subsea.

Through its University Software Grant Program, Halliburton has provided a multi-million-dollar software grant to the Colleges   of Science and Engineering at Sultan Qaboos University in Oman. The software provided includes geoscience, drilling and reservoir management programs. The Halliburton Landmark software will allow students to apply technical and theoretical principles learned in the classroom to real scenarios, better preparing them for a successful career in oil and gas.

TGS and Schlumberger have announced a new, 2D, multi-client project offshore Egypt, in the Red Sea. The seismic project will include acquisition of a 10,000-km, 2D, long-offset broadband multi-client seismic survey, which should conclude during first-quarter 2018. The project is part of an agreement with  South Valley Egyptian Petroleum Holding Co. to explore the region’s complex subsalt structures. TGS and Schlumberger hold exclusive multi-client rights in a 70,000-km2 area of the Egyptian Red Sea for a minimum period of 15 years.

C-Innovation (C-I) has formed a subsea projects group to provide fully integrated subsea solutions to a global customer base. As an affiliate of Edison Chouest Offshore (ECO), C-I has assembled the turnkey group of service providers, based on their ability to deliver enhanced savings and efficient project execution. The group of companies includes Chouest’s various port facilities, a logistics company, tank cleaning services, shipyards and dry docks, located throughout the U.S. Gulf Coast and Brazil. Additionally, C-I’s ROV services will continue to support subsea construction projects, as well as drilling, intervention, maintenance and heavy lift projects. Photo: C-Innovation.

ADES International Holding Ltd. has extended contracts for its Admarine II and Admarine IV jackups. Additionally, the lease for its Admarine VI jackup has been renewed. All three rigs are operating in the Gulf of Suez, in the northern part of the Red Sea. The Admarine II jackup barge contract was renewed by Gulf of Suez Petroleum Co. (GUPCO)—a JV between BP and the Egyptian General Petroleum Co. (EGPC)—for an additional three months. GUPCO’s contract for Admarine IV reportedly was extended for an additional six months, and the Admarine VI contract was renewed with EGPC for two years.

Magnolia Petroleum, along with partner Western Energy Development,  has announced plans to drill three additional increased-density wells on the same spacing unit as the Gilchrist 2016 1-36H well in Oklahoma’s Mississippi Lime formation. The decision follows positive IP rates provided by the operator, SandRidge Energy. With flowrates of 652 bopd and 770 boed, recovery of reserves is expected to increase with the additional wells.

President Energy has reported successful results from its first two workover wells at Puesto Flores field, situated in Argentina’s Rio Negro Province. Wells PFO-50 and PFO-9 reportedly were completed ahead of time and under budget. New, untested intervals totaling 11 m, net, were perforated in PFO-50. Results exceeded expectations, showing a 100% increase from the pre-shut-in output. The well reportedly has stabilized at 400 bopd. Production from the PFO-9 well has stabilized at 100 bopd, increasing the field’s total gross production level to about 1,500 bopd. However, work on two more workover wells has yet to be completed. 

Petrobras and Total have completed several transactions, worth a consideration of approximately $1.95 billion, following the formation of a strategic alliance in March 2017. First, Petrobras has transferred 35% of the rights, as well as operatorship, for Lapa field to Total. The field is in Block BM-S-9A, in the Santos basin pre-salt. Additionally, Petrobras has transferred 22.5% of the rights for the Iara area, which contains Sururu, Berbigão and Oeste de Atapu fields. Block BM-S-11A also is found in the Santos basin pre-salt.

TWMA has secured a three-year contract to provide drilling waste management services to Total on the UKCS. Under terms of the contract, TWMA will provide a custom-built drill cuttings management package, which employs the company’s proprietary TCC RotoMill thermal processing technology, along with its EfficientC skip and ship solution. Photo: TWMA.

SBM Offshore has awarded a turret mooring system (TMS) construction contract to Drydocks World for Statoil’s Johan Castberg FPSO. The FPSO will be moored permanently by the internal TMS at Johan Castberg field, offshore Norway. It will allow the vessel to maneuver around the anchor legs, while transferring fluids, power and communications signals between the vessel and the subsea equipment. Under terms of the contract, Drydocks World will manage bulk procurement and construction.

Stone Energy said that its Mt. Providence development well has encountered about 153 net ft of high-quality pay in one Miocene interval. The well—which is situated on Mississippi Canyon Block 28, in the deepwater Gulf of Mexico—is expected to have an initial production rate of about 3,000 to 5,000 boed. It reportedly will be tied back to the Pompano platform. The company, which holds a 100% working interest in the well, says completion operations are set to begin during second-quarter 2018. Photo: Stone Energy.

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Emily Querubin
World Oil
Emily Querubin Emily.Querubin@worldoil.com
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