TechnipFMC Wins Contract For Ghana’s OCTP Project
TechnipFMC has been awarded a contract by Eni Ghana E&P Ltd., a subsidiary of Eni, GNPC and Vitol, for the onshore part of the Offshore Cape Three Points (OCTP) development of the Sankofa Field offshore Ghana.
Under this contract, TechnipFMC will perform the project management, engineering, supply, construction and commissioning for the onshore receiving facilities in Sanzule, which form part of the Gas to Power Plan.
The contract will be mainly executed by the teams of TechnipFMC in Ghana. The project is scheduled for completion by mid-2018.
OCTP, which includes the Sankofa and Gye Nyame fields, is believed to hold about 41 Bcm (1.4 Tcf) of non-associated gas and 50 MMbbl of oil.
Field development plans include production via subsea systems connected by flowlines and risers to an FPSO vessel. The gas will be transported to the onshore receiving facilities in Sanzule before being compressed and injected into the Western Corridor Gas Pipeline destined for industrial customers in Ghana, according to Eni. But the oil will be stored in the FPSO unit and be available for sale.
Brunei Shell Partners With Amec Foster Wheeler
Brunei Shell Petroleum Sdn Bhd has teamed up with Amec Foster Wheeler to rejuvenate Brunei’s oil and gas assets in the South China Sea.
Amec Foster Wheeler was awarded a five-year contract for work, which will cover the concept, FEED, detailed design, construction, completions and commissioning, marine management, fabrication management, procurement, and project management, the company said in a news release. It plans to use its “More 4 Less” lean engineering methodology to cut costs and time.
The contract has two one-year extension options.
Statoil Confirms Sverdrup Oil Field Cost Estimate
Statoil confirmed on March 21 its cost estimate for developing the Johan Sverdrup oil field, the largest North Sea discovery in decades.
The overall field development investment is now seen at US$16.2 billion-$18 billion (137 billion-152 billion Norwegian crowns), in line with a Feb. 7 forecast and down from a previous range of 140 billion to 170 billion seen in August.
At an earlier stage Statoil had said it could cost up to 220 billion crowns to develop the field, which is expected to have peak production of 660,000 bbl/d.
A formal investment decision will not be made until second-half 2018, Statoil said.
Statoil’s partners in the field are Lundin Petroleum, A.P. Moeller-Maersk and Aker BP.
—Staff & Reuters Reports
Recommended Reading
Enverus: 1Q Upstream Deals Hit $51B, but Consolidation is Slowing
2024-04-23 - Oil and gas dealmaking continued at a high clip in the first quarter, especially in the Permian Basin. But a thinning list of potential takeout targets, and an invigorated Federal Trade Commission, are chilling the red-hot M&A market.
Mighty Midland Still Beckons Dealmakers
2024-04-05 - The Midland Basin is the center of U.S. oil drilling activity. But only those with the biggest balance sheets can afford to buy in the basin's core, following a historic consolidation trend.
CEO Darren Woods: What’s Driving Permian M&A for Exxon, Other E&Ps
2024-03-18 - Since acquiring XTO for $36 billion in 2010, Exxon Mobil has gotten better at drilling unconventional shale plays. But it needed Pioneer’s high-quality acreage to keep running in the Permian Basin, CEO Darren Woods said at CERAWeek by S&P Global.
Novo II Reloads, Aims for Delaware Deals After $1.5B Exit Last Year
2024-04-24 - After Novo I sold its Delaware Basin position for $1.5 billion last year, Novo Oil & Gas II is reloading with EnCap backing and aiming for more Delaware deals.
Mesa III Reloads in Haynesville with Mineral, Royalty Acquisition
2024-04-03 - After Mesa II sold its Haynesville Shale portfolio to Franco-Nevada for $125 million late last year, Mesa Royalties III is jumping back into Louisiana and East Texas, as well as the Permian Basin.