SLB OneSubsea, a joint venture that includes SLB and Subsea7, have been awarded a “sizeable” contract for integrated engineering, procurement, construction and installation (EPCI) by OKEA.
The contract will see the partnership develop the Bestla Project (formerly known as Brasse) in the North Sea, offshore Norway, to accelerate the subsea tieback delivery to aging platforms for profitable and sustainable marginal field development.
The field is estimated to contain 24 MMboe, of which two-thirds is oil, and the remaining one-third is gas and natural gas liquids. First oil is targeted for fourth-quarter 2026.
The two-well project, with a 13-km tieback to the Brage Platform, is the latest to be signed under the frame agreement signed with OKEA in 2017 and furthers SLB OneSubsea and Subsea7’s partnership under its Subsea Integration Alliance.
Early engagement and collaborative field development planning, combined with North Sea compliant configurable equipment, will be critical for enabling profitable and sustainable marginal field development, according to a May 7 SLB press release. The companies will deliver the subsea production system, which will include two subsea trees, a two-slot template, an umbilical and a control system.
Subsea7 will install the subsea production system and design and install the flowline systems, spools and protection measures, including rock installation.
“We enjoy a long, productive relationship with OKEA, building upon the successful execution of the Hasselmus development, the first project under our Alliance frame agreement, which was delivered on time and on budget in October 2023,” said Mads Hjelmeland, CEO of SLB OneSubsea. “Reaching this point has been driven by outstanding collaboration across all partners. Our ongoing partnership has enabled us to work together to simplify the field layout and secure long lead items and vessel capacity, which will bring the new wells online quickly and efficiently.”
Bestla was discovered in 2016, but the Subsea Integration Alliance efforts represent the first commercially viable field development plan submitted for the Brasse development.
Recommended Reading
API Gulf Coast Head Touts Global Emissions Benefits of US LNG
2024-04-01 - The U.S. and Louisiana have the ability to change global emissions through the export of LNG, although new applications have been frozen by the Biden administration.
CERAWeek: LNG to Play Critical Role in Shell's Future, CEO Says
2024-03-19 - Sawan said LNG will continue to play a critical role adding that LNG currently makes up around 13% of gas sales but was expected to grow to around 20% in the coming 15 to 20 years.
CERAWeek: Tecpetrol CEO Touts Argentina Conventional, Unconventional Potential
2024-03-28 - Tecpetrol CEO Ricardo Markous touted Argentina’s conventional and unconventional potential saying the country’s oil production would nearly double by 2030 while LNG exports would likely evolve over three phases.
Exclusive: Renewables Won't Promise Affordable Security without NatGas
2024-03-25 - Greg Ebel, president and CEO of midstream company Enbridge, says renewables needs backing from natural gas to create a "nice foundation" for affordable and sustainable industrial growth, in this Hart Energy Exclusive interview.
Association: Monthly Texas Upstream Jobs Show Most Growth in Decade
2024-04-22 - Since the COVID-19 pandemic, the oil and gas industry has added 39,500 upstream jobs in Texas, with take home pay averaging $124,000 in 2023.