A Barrel Fulll Archive

Mar 15, 2023 Houston, Texas, − Shell Offshore Inc., a subsidiary of Shell plc (Shell), announced the Final Investment Decision (FID) for Dover, a planned subsea tieback to the Shell-operated Appomattox production hub in the US Gulf of Mexico (GoM). Dover is expected to start production in late 2024-early 2025 and produce up to 21,000 barrels of oil equivalent per day (boe/d) at peak rates. “Shell is a pioneer in the Norphlet reservoir with Appomattox, and we are building on our leading position in the reservoir with Dover,” said Paul Goodfellow, Shell’s Executive Vice President for Deepwater. “Last year we took FID on Rydberg, another subsea tieback to Appomattox, and Dover gives us an opportunity to add to our base in this prolific basin.” The investment at Dover underscores Shell’s long-term commitment to the US Gulf of Mexico, where production has among the lowest greenhouse gas (GHG) intensity in the world for producing oil. Shell’s Powering Progress strategy to thrive through the

23 MAY 2019 Royal Dutch Shell plc, through its subsidiary Shell Offshore Inc (Shell) announces today that production has started at the Shell-operated Appomattox floating production system months ahead of schedule, opening a new frontier in the deep-water US Gulf of Mexico. Appomattox, which currently has an expected production of 175,000 barrels of oil equivalent per day (boe/d), is the first commercial discovery now brought into production in the deep-water Gulf of Mexico Norphlet formation. “That Appomattox was safely brought online ahead of schedule and far under budget is a testament to our ongoing commitment to drive down costs through efficiency improvements during execution,” said Andy Brown, Upstream Director, Royal Dutch Shell. “Appomattox creates a core long-term hub for Shell in the Norphlet through which we can tie back several already discovered fields as well as future discoveries.” Appomattox is a story of efficiency through innovation. By way of optimised development

02/07/2009 Borouge , a leading provider of innovative, value creating plastics solutions, has awarded a contract worth US$ 1.075 billion to The Linde Group, a world leading gases and engineering company, to build another 1.5 million tonnes per year (t/y) ethane cracker at its production site in Ruwais, Abu Dhabi, United Arab Emirates. "The awarding of this contract confirms Borouge's commitment to the Borouge 3 project, a major expansion of our production facility in Ruwais, which will increase the total capacity of the plant to 4.5 million tonnes of polyolefins annually by the end of 2013," says Abdulaziz Alhajri, CEO of Abu Dhabi Polymers Company (Borouge). "In addition to the ethane cracker, the expansion includes the construction of second generation Borstar® polypropylene and polyethylene units, a low density polyethylene unit and a Butene unit, as well as related off-site utilities and marine facilities." "Nowhere else in the world has a petrochemical

27/05/2010 Borouge , a joint-venture between the Abu Dhabi National Oil Company (ADNOC), one of the world's major oil companies, and Borealis, a leading provider of chemical and innovative plastics solutions, has awarded three major Engineering, Procurement and Construction (EPC) contracts valued at approximately US$ 2.6 billion for its Borouge 3 expansion project in Ruwais, Abu Dhabi, in the UAE. These significant investments will expand the production capacity of the plant to 4.5 million tonnes per year (t/y) by 2013, making it the largest integrated polyolefins site in the world. A contract worth US$ 1,255 billion for the construction of two Borstar® enhanced polyethylene and two Borstar® enhanced polypropylene units, as well as a contract worth US$ 400 million for the construction of a 350,000 t/y low density polyethylene (LDPE) unit, was awarded to the Joint Venture consortium Tecnimont of Italy and Samsung Engineering of South Korea, on a lump sum turnkey basis. The annual ca

13/06/2007 Borouge , a leading provider of innovative, value creating plastics solutions, today awarded a contract worth approximately US$300 million for the construction of a new olefins conversion unit (OCU) to Samsung Engineering for Borouge 2, the major expansion project at the company's production facilities in Ruwais, Abu Dhabi in the United Arab Emirates. The unit, which will convert ethylene into propylene to feed two new Borstar® technology polypropylene plants, will be the world's largest using ABB Lummus licensed technology. Total annual output from the OCU will be 752 kilotonnes of propylene plus 39 kilotonnes of butane-1 – totalling 791 kilotonnes. Work on the OCU will begin on June 25, 2007 and is scheduled to be completed by mid-2010. Harri Bucht, Chief Executive Officer of the Borouge production company, commented: "The signing of this contract, along with the other Borouge 2 packages, is testament to the momentum of the Borouge 2 project. This expansion is

05/02/2007 Borouge , a leading provider of innovative plastics solutions, and a consortium of the Engineering division of The Linde Group and CCC today formally signed a contract worth approximately USD 1.3 billion for the construction of a new Ethylene Cracker, which is considered the largest grass roots gas cracker in the world with a capacity of 1.5 million tonnes per annum. The signing ceremony took place in the presence of the Chancellor of the Federal Republic of Germany, Angela Merkel on her visit to Abu Dhabi, UAE, H.H. Sheikha Lubna Al Qasimi, UAE Minister of Economy and Michael Glos, German Federal Minister of Economics and Technology. The contract was signed by Harri Bucht CEO of Abu Dhabi Polymers (Borouge), Dr Aldo Belloni, Member of the Executive Board of Linde AG and Farid Asfour, Vice President, CCC, and marks the start of a new phase in an already successfully working relationship between Borouge, Linde and CCC. The cracker is the first step in Borouge 2, the major exp

12/04/2007 Borouge, a leading provider of innovative, value creating plastics solutions, today awarded contracts valued at approximately US$ 3 billion for Borouge 2 , the major expansion project at the company's production facilities in Ruwais, Abu Dhabi in the United Arab Emirates. The two contracts awarded today comprise: A contract worth approximately US$ 1.855 billion for the construction of three new Borstar® technology polyolefins units and associated material handling facilities, laboratory facilities and marine works to Tecnimont S.p.A. of Italy, awarded on a lump sum turnkey basis A contract for an estimated value of US$ 1.234 billion with Tecnicas Reunidas S.A. of Spain, awarded on a convertible lump sum basis to construct the offsite and utility facilities for the expanded plant The contract with Tecnimont S.p.A. Italy will see the development of two Borstar polypropylene plants with a combined annual capacity of 800,000 tonnes and a new Borstar Enhanced PE plant with an

23 November 2018 BP, on behalf of co-venturers Shell, Chevron and ConocoPhillips, today announced first oil production from the giant Clair Ridge project in the West of Shetland region offshore UK. Clair Ridge is the second phase of development of the Clair field , 75 kilometres west of Shetland. The field, which was discovered in 1977, has an estimated seven billion barrels of hydrocarbons. Two new, bridge-linked platforms and oil and gas export pipelines have been constructed as part of the Clair Ridge project. The new facilities, which required capital investment in excess of £4.5 billion, are designed for 40 years of production. The project has been designed to recover an estimated 640 million barrels of oil with production expected to ramp up to a peak at plateau level of 120,000 barrels of oil per day. Bernard Looney, BP Chief Executive Upstream, said: “The start-up of Clair Ridge is a culmination of decades of persistence. Clair was the first discovery we made in the West of

9 March 2021 Waldorf Production Limited (“Waldorf” or the “Company”) is pleased to announce that it has entered into a PUT and CALL Agreement with Cairn Energy plc for the acquisition of Cairn’s non-operated 29.5 per cent interest in Kraken and 20 per cent interest in the Greater Catcher Area licenses . The transaction has an economic effective date of 1 January 2020, with completion currently expected by late-2Q 2021. Elsewhere, Waldorf has, subject to contract and board approval, agreed to acquire a 20% interest in Block 22/1b and a 15% interest in Block 22/1a from Ithaca Oil and Gas Limited. The former license contains the exciting Fotla prospect, where an exploration well is expected to be drilled in 2Q 2021. Erik Brodahl, Chief Executive Officer of Waldorf Production said: “We are excited to acquire Cairn’s interests in the high-quality Catcher and Kraken producing fields. This is a transformational transaction for the company, with average production from the combined company gr

11 July 2022 Waldorf Production Limited (“Waldorf” or the “Company”) is pleased to announce that it has entered into a binding Sale and Purchase Agreement with a wholly owned subsidiary of Shorelight Partners (“Shorelight”) for the acquisition of Alpha Petroleum Resources Limited (“Alpha Petroleum”). Alpha Petroleum’s assets include a 100% working interest in the Cheviot field and an operated interest in three late life/redevelopment fields in the Southern Gas Basin. Cheviot is one of the largest undeveloped fields in the UK North Sea, with estimated contingent resources of 50 MMbbls oil and 120 bcf gas. There are no implications for the Nordic Bond issued by Waldorf Production UK PLC on 1 October 2021. Erik Brodahl, Chief Executive Officer of Waldorf Production said: “We are delighted to be partnering with the Alpha team and look forward to welcoming our new colleagues to Waldorf. Cheviot provides a valuable development opportunity to supplement our existing production portfolio and

September 2019  Subsea 7 S.A.  today announced the award of a sizeable(1) contract by Total E&P do Brasil(2) for the development of the Lapa North East field located approximately 300 kilometres off the coast of the State of São Paulo, at 2,150 metres water depth in the pre-salt Santos Basin. The work scope includes the transport, installation and pre-commissioning of 35 kilometres of flexible pipelines and 20 kilometres of umbilical, connecting 5 wells to the FPSO Cidade de Caraguatatuba. Project management and detailed engineering will commence immediately at Subsea 7’s office in Rio de Janeiro, Brazil. Offshore activities are due to commence in the fourth quarter 2019. Marcelo Xavier, Subsea 7’s Vice-President Brazil, said: “This contract builds on our track record of project execution offshore Brazil and reflects our commitment to work and learn together with our client to achieve successful solutions. We look forward to strengthening our relationship with Total in Brazil, thr

September 14, 2022 TechnipFMC (NYSE: FTI) has been awarded a significant(1) engineering, procurement, construction and installation (EPCI) contract by TotalEnergies for its Lapa North East field in the pre-salt Santos Basin offshore Brazil. TechnipFMC will reconfigure and install umbilicals and flexible pipe in a new configuration that will further secure the production of the field. Jonathan Landes, President, Subsea, at TechnipFMC, commented: “The Brazilian offshore market is becoming more diverse with regard to work scope and customer opportunity. On Lapa North East, we are working with a valued client with whom we have built a trusted relationship. By offering the flexibility of a phased campaign, we are helping TotalEnergies accelerate its schedule and begin production sooner.”

Feb. 6, 2019 TechnipFMC (NYSE: FTI) (PARIS: FTI) has been awarded by Petrobras, on behalf of the Libra Consortium, comprised of Petrobras, Shell, Total, CNOOC Limited, CNPC and Pré-Sal Petróleo (PPSA), a large(1) engineering, procurement, construction and installation (EPCI) contract for the Mero 1 pre-salt field , located in the Santos Basin, at 2,100 meters of water depth offshore Brazil. The contract covers engineering, procurement, construction of all rigid lines, as well as the installation and pre-commissioning of all the infield riser and flowline system for interconnecting 13 wells (6 production and 7 water alternate gas) to the FPSO(2). It also includes the installation of rigid pipelines (including corrosion resistant alloy and steel lazy wave risers), flexible risers and flowlines(3), steel tube umbilicals(3) and other required subsea equipment. Arnaud Piéton, President Subsea at TechnipFMC, commented: “We are extremely honored to have been selected to execute this EPCI proj

Aug. 20, 2020 TechnipFMC (NYSE: FTI) (PARIS: FTI) has been awarded a large(1) contract for Engineering, Procurement, Construction and Installation (EPCI) through a competitive contracting process, by Petrobras, the leader and operator of the Libra Consortium, which was formed by Petrobras, Shell Brasil, Total, CNPC, CNOOC Limited and Pré-sal Petróleo SA (PPSA), for the pre-salt Mero field , located in the Santos Basin (Brazil) at 2,100 meters deep. The contract covers engineering, procurement, construction, installation and pre-commissioning of the infield rigid riser and flowlines for production, including the water alternate gas wells. It also comprises the installation and pre-commissioning of service flexible lines and steel tube umbilicals, as well as towing and hook up of the FPSO(2). The Company will leverage synergies with the Mero 1 project Subsea EPCI, utilizing in-house rigid and flexible lay vessels and its significant local footprint in Brazil, including a spoolbase, logis

24 May 2021 Subsea 7 S.A. (Oslo Børs: SUBC, ADR: SUBCY) today announced the award of a very large(1) contract by Petrobras for the development of the Mero-3 field located approximately 200 kilometres off the coast of the state of Rio de Janeiro, Brazil, at 2,200 metres water depth in the pre-salt Santos basin. The contract scope includes engineering, fabrication, installation and pre-commissioning of 80 kilometres of rigid risers and flowlines for the steel lazy wave production system, 60 kilometres of flexible service lines, 50 kilometres of umbilicals and associated infrastructure, as well as installation of FPSO mooring lines and hook-up. Project management and engineering will commence immediately at Subsea 7’s offices in Rio de Janeiro and Paris. Fabrication of the pipelines will take place at Subsea 7’s spoolbase at Ubu in the state of Vitória and offshore operations are scheduled to be executed in 2023 and 2024, using Subsea 7’s fleet of reeled rigid pipelay vessels. Marcelo Xa

November 18, 2021 Aker Solutions has been awarded a substantial contract by Petrobras to provide a subsea production system and related services for the Mero 4 project offshore Brazil. This is the fourth consecutive production system for the Mero field development, one of the largest oil discoveries in Brazil's pre-salt area. The company will deliver a subsea production system consisting of up to 13 vertical subsea trees designed for Brazil's pre-salt, including subsea distribution units, subsea control modules and master control station for control systems and topside, and related tie-in equipment. Aker Solutions' subsea manufacturing facility in São José dos Pinhais, and its subsea services base in Rio das Ostras, will carry out the main part of the work. The work starts immediately, with installation scheduled to take place between 2023 and 2025. "We are pleased to be awarded another subsea production system contract by the Libra Consortium, which reinforces the l

03/04/2023 Petrobras informs that it has started the contracting process for the chartering of two platform vessels for the Sergipe Deepwater Project (SEAP) , in the Sergipe-Alagoas Basin, about 100 km off the coast. The FPSO (floating production, storage, and oil transfer system) type units will be strategic to expand the availability of national gas, besides opening a new production frontier in the Northeast region. Each platform (SEAP I and SEAP II) will have the capacity to process up to 120 thousand barrels of oil per day (bpd). The oil in the region is light, considered to be of good quality, between 38 and 41 degrees API - and, therefore, of higher commercial value. Together, the two units will have the potential to offer up to 18 million cubic meters of gas per day. "The Sergipe Águas Profundas project stands out for its expressive reserves, with potential to boost the supply of natural gas in the country and reduce our dependence on imports of this input", said Petro

25 January 2022  PRIO, Brazil's largest independent oil company, this week completed the process of disconnecting the FPSO Polvo from the Polvo-Tubarão Martelo Field, in the Campos Basin, where it had operated since 2007. The demobilization of the Polvo FPSO was made possible by the successful interconnection of the Polvo A platform with the Bravo FPSO , known as tieback, completed on July 14, 2021. With the project to connect the Polvo + TBMT fields, PRIO became the first independent company to create a private production cluster of mature fields in the Campos Basin region.  Dubbed Project Phoenix, the strategy was designed to revive two camps that were in the final stages of economic life, about to be abandoned, and that can now generate positive results for the whole society. "The success of the tieback between Polvo and TBMT demonstrates the great execution capacity and punctuality of the company's operational project teams, which are able to safely implement future p

02 May 2022 PRIO closed, on Thursday (28/4), the purchase of the Albacora Leste field , owned by Petrobras, in the Campos Basin. With an investment of up to US$ 2.2 billion, the venture will see the country's largest independent oil and gas company nearly double in size in both production and revenue and EBITDA. Currently, PRIO produces 34,000 barrels/day, and the acquisition adds another 27,000.  The company estimates an economically recoverable reserve of 1P (90% chance of being recovered) close to 280 million barrels for the Albacora Leste Field, being, net for PRIO, a reserve of more than 240 million barrels, with abandonment expected after 2050. Estimates consider a long-term price of $62 per barrel of oil. Both companies have been in exclusive talks since November last year. Under the terms of the agreement, PRIO will own 90% of the business – Repsol Sinopec Brasil ("RSB") will have the other 10% stake. PRIO will pay 15% of the value of Albacora Leste now and the re

03 February 2020 PRIO, the largest independent oil and gas company in the country, announces the purchase of the OSX-3 vessel for US$ 140 million (about R$ 600 million), together with the acquisition of 80% in the Tubarão Martelo Field – where the Oil and Gas Storage and Transfer Production (FPSO) unit is chartered. The two transactions will allow the integration between the Polvo fields, already operated by PRIO, and Tubarão Martelo, both in the Campos Basin (RJ). This is the first initiative of an independent company in the country for the optimization of mature fields, with the creation of a pole in the region – all the oil producing wells of the two fields will be interconnected to the new FPSO acquired (OSX-3).  "We have studied this acquisition a lot and are preparing to put into practice a pioneering strategy of revitalization of fields in production in Brazil. The two businesses will generate significant synergies, cost reduction, extension of the economic life of the two

04 March 2021 PRIO announced the acquisition of a further 28.6% in the Wahoo Field . With this portion, negotiated with Total, the Company's stake became 64.3% in the Field. Production at Wahoo, initially estimated at 10,000 barrels per day per well, could exceed 40,000, based on the results of the formation test conducted in an exploratory well. Wahoo, with oil discovery in 2008 and formation test conducted in 2010, has the potential to produce more than 140 million barrels (100% of the field).

19 November 2020 PRIO announced the acquisition of 35.7% of the Wahoo field and 60% of the Itaipu field, thus becoming, subject to the necessary approvals, the operator of both fields, marking the Company's entry into the pre-salt. The purchase was made from BP Energy do Brasil.  Wahoo Oil Field - A Barrel Full Wahoo, with the potential to produce more than 140 million barrels (100% of the field), with oil discovery in 2008, and formation testing conducted in 2010, fits perfectly into PRIO's value generation strategy. With the development of the field, the Company will form another production cluster, and will share the entire infrastructure with the Frade Field (including the FPSO), thus enabling the capture of several synergies resulting in another strong and sustainable reduction of lifting cost, always maintaining the highest standards of safety and efficiency.  Wahoo is located 30-35 km north of Frade, with a water depth of 1,400m, and has a carbonate reservoir in the pre-

February 5, 2021 Petróleo Brasileiro S.A. – Petrobras, following up on the release disclosed on November 28, 2019, informs that it has concluded today the sale of its 30% participation in the Frade field , located in the Campos Basin, north coast of the state of Rio de Janeiro, to PetroRio Jaguar Petróleo Ltda., a subsidiary of Petro Rio S.A. (PetroRio), which holds the remaining 70%. The transaction also included the sale of the entire stake held by Petrobras Frade Inversiones S.A. (PFISA), a subsidiary of Petrobras, in the company Frade BV to Petrorio Luxembourg, which now holds 100% of Frade BV.  After fulfilling the previous conditions, the operation was concluded with the payment of US$ 36 million to Petrobras today, an amount resulting from the payments foreseen in the contracts and with the applicable adjustments. This value adds to the amount of US$ 7.5 million paid to Petrobras at the sales contract signing.  The amount received today was adjusted due to the profit earned by P

October 3, 2019 INPEX CORPORATION (INPEX) announced today that it has sold all the interests held through INPEX Offshore North Campos Ltd. (INPEX Campos) to PetroRio, an independent Brazilian oil and natural gas company, thereby withdrawing from oil development and production activities (the Project) in the Frade field located approximately 370 kilometers northeast of Rio de Janeiro, Brazil.  INPEX was formerly involved in the Project through its subsidiary, INPEX Campos that INPEX established in partnership with Sojitz Corporation (Sojitz) and Japan Oil and Gas and Metals National Corporation (JOGMEC).  The Project, which INPEX joined in 1999, reached a final investment decision to develop the Frade field in 2006 and commenced production in 2009. Thereafter, the natural depletion of the Frade field combined with changes in the business environment due to factors such as the oil price downturn put a limitation on the Project’s ability to contribute financially to the INPEX Group. INPE

22 Nov 2022 Aibel has by Equinor been awarded a billion NOK contract for extensive modifications and preparation of the Aasta Hansteen platform for tie-in of the Irpa field (previously Asterix) . Aibel estimates the contract to be a large contract*, which at peak will employ over 200 people. Management and engineering will be carried out from Aibel’s office in Stavanger with the support of the offices in Oslo and Singapore. In addition, the project will exploit synergies with Aibel’s existing maintenance and modification contract for Aasta Hansteen, which is led by the Harstad office. Prefabrication and module assembly will take place at Aibel’s yards in Haugesund and Thailand. The EPCIC contract (Engineering, Procurement, Construction, Installation and Commissioning) was an option when Aibel last year was awarded the FEED contract (Front End Engineering and Design) to plan the modifications in detail. “The contract award is an acknowledgment to the organisation that has worked with th

8 JUNE 2022 Yinson Holdings Berhad (“Yinson” or the “Group”), together with its project partner Sumitomo Corporation (“Sumitomo”) officially named its newest asset, FPSO Anna Nery , during a grand naming ceremony held concurrently in Jiangsu, China and Kuala Lumpur, Malaysia. Live feeds from the two locations were shared virtually to a global audience via a dedicated event website.  FPSO Anna Nery is currently undergoing final conversion works and is going to set sail for Brazil in Q3, where it will be deployed at the Marlim Field located in the eastern part of the Campos Basin, about 150km offshore Rio de Janeiro. The asset will be stopping for a few days in Singapore and Mauritius for crew change and fresh supplies.  The naming ceremony was graced by Mdm Bah Kim Lian, Lady Sponsor of the FPSO. Also in attendance in Kuala Lumpur were Yinson Group Executive Chairman Mr Lim Han Weng, General Manager of Sumitomo’s Energy Department Mr Wataru Sato and Petrobras General Manager, Marcio Mat

30th May 2019 Ithaca Energy Limited (“Ithaca” or the “Company”) is pleased to announce that it is to acquire Chevron North Sea Limited (“CNSL”) for $2 billion. The transaction will add a further ten producing field interests to the existing Ithaca portfolio, four of which relate to assets operated by the Company, resulting in an approximately 150% increase in the proven and probable (“2P”) reserves of the Company and a 300% increase in forecast 2019 production. Pro-forma the transaction, Ithaca’s asset base is estimated to consist of 2P reserves of approximately 225 million barrels of oil equivalent1 (“MMboe”) plus a further 45 MMboe2 of proven and probable contingent (“2C”) resources associated primarily with additional near-field development and infill drilling opportunities. The enlarged portfolio, encompassing 18 producing field interests in total, is forecast to deliver pro-forma 2019 production of approximately 80,000 barrels of oil equivalent per day (60% liquids) at an operatin

06 December 2022 bp, Equinor and Ithaca Energy have signed a Memorandum of Understanding (MoU) to explore electrification options for their West of Shetland oil and gas interests. It follows formation of the West of Shetland Electrification (WoSE) group, acting on behalf of the joint venture partners of the Clair , Rosebank and Cambo fields. Graham Stuart MP, Minister of State for Energy and Climate Change, witnessed the signing of the MoU during a reception earlier today, 06 December 2022, attended by representatives of the three companies. Minister Stuart said: “I am delighted to host the signing of today’s agreement between bp, Equinor and Ithaca to explore the possibilities of electrifying oil and gas production in the UK. This signing is an important step for industry towards reducing their emissions, while protecting jobs and delivering on the commitments in the landmark North Sea Transition Deal.” Electrification solutions could include power from shore (potentially from onsho

May 7, 2021 Sevan SSP and its parent company, Sembcorp Marine, are continuing with the pre-FID engineering work for Siccar Point Energy’s Cambo FPSO in anticipation of development sanction on the project in late 2021. The group has been working with Siccar Point since 2019 to develop an innovative cylindrical FPSO for the Cambo field . This unique design-and-build project is based on Sevan’s proprietary geostationary circular hull, a proven design that has excellent sea-keeping and motion characteristics with enhanced stability and operational performance for safe operation in challenging conditions and harsh environments. The design allows for modularised fabrication and assembly and scalability, and eliminates the need for a costly mooring system, making it a cost-efficient alternative to traditional floating barge solutions. The favourable motions of the Sevan hull, in particular in mid- to deepwater harsh environments, makes it suitable for deployment on the rough seas of the Cambo