A Barrel Fulll Archive

01/02/2019 Total has started up production on December 29, 2018 from the Egina field , located in around 1,600 meters of water depths, 150 kilometers off the coast of Nigeria. At plateau, the Egina field will produce 200,000 barrels of oil per day, which represents about 10% of Nigeria’s production. The Floating Production Storage and Offloading (FPSO) unit used to develop the giant Egina field is the largest one Total has ever built. This project has also involved a record level of local contractors. Six of the eighteen modules on the FPSO were built and integrated locally, and 77% of hours spent on the project were worked locally. Startup has been achieved close to 10% below the initial budget, which represents more than 1 billion dollars of CAPEX savings, due in particular to excellent drilling performance where the drilling time per well has been reduced by 30%. “Total is proud to deliver a project of this size under the initial budget and to contribute to the development of Niger...

Jan. 14, 2020  Africa Oil Corp. ("AOI", "Africa Oil" or "the Company") is pleased to announce the closing of the acquisition (the "Acquisition") of a 50% ownership interest in Petrobras Oil and Gas B.V. ("POGBV"). BTG Pactual E&P B.V. will continue to own the remaining 50% of POGBV. The total cash payment by AOI to close the Acquisition, including the Nigerian Government's consent fee, amounts to $519.5 million. This includes a deferred payment of $24.8 million which is due by end of June 2020.  The primary assets of POGBV are an indirect 8% interest in Oil Mining Lease ("OML") 127 and an indirect 16% interest in OML 130. OML 127 is operated by affiliates of Chevron Corporation ("Chevron") and contains the producing Agbami Field . OML 130 is operated by affiliates of TOTAL S.A. ("TOTAL") and contains the producing Akpo and Egina Fields. Aggregate gross field production from these assets averaged ...

06 January 2022 Contract extension for Abo FPSO BW Offshore has signed an extension agreement for Abo FPSO with Nigerian Agip Exploration Ltd, a subsidiary of ENI S.p.A., until end Q4 2022.

2018.02.08 Samsung Engineering Co., Ltd announced today that it has received a letter of award (LOA) to build a Crude Flexibility Project (CFP) on behalf of ADNOC Refining in the United Arab Emirates. At a value of $ 3.1 billion, it is the ninth award in total Samsung Engineering received from ADNOC (Abu Dhabi National Oil Company), the national oil company of UAE and the parent company of ADNOC Refining. Samsung Engineering secured the contract in partnership with CB & I Nederland B.V. as joint venture partner. Samsung’s contract amount is $ 2.6 billion. This project will be built at the Ruwais Industrial Complex (the largest industrial complex in the UAE). It will construct a new Atmospheric Residue De-Sulfurization (ARDS) facility, with an annual capacity of 177,000 barrels per day. The estimated completion schedule will see project delivery end of 2022. Samsung Engineering has previously delivered six projects in the Ruwais complex, two of which are directly linked to CFP. The...

04 Apr 2018 Spirit Energy is partner in what could be a significant gas/condensate discovery in the Hades/Iris prospects in the Norwegian Sea. The exploration well 6506/11-10 licence PL 644 B targeted two formations. The well's primary and secondary exploration targets were to prove petroleum in the Lower Cretaceous (Lange formation) and Middle Jurassic (Garn formation), respectively. In the primary exploration target (Hades), the well encountered a gas/condensate column totalling about 35 metres in the Lange formation. 15 metres of this constitutes the reservoir, which consists of sandstone with moderate to good reservoir properties. The gas/water contact was not encountered. Preliminary estimates indicate that the size of the discovery in the Lange formation is between 19 and 113 mmboe. In the secondary exploration target (Iris), the well encountered a gas/condensate column totalling about 95 metres in the Garn formation. 85 metres of this constitutes the reservoir, which consis...

December 21, 2022 OMV (Norge) AS has on behalf of the PL644 partnership submitted the Plan for Development and Operation (PDO) for the Berling gas and condensate discovery to the Norwegian Ministry of Petroleum and Energy. The recommended development concept for the Berling field is a 4-slot subsea production template tied back via a 24-kilometer pipeline to the Equinor-operated Åsgard B platform. The rich gas will be processed on Åsgard B and transported via the Åsgard Transport System for further processing at Kårstø gas processing plant. The condensate will be transferred to Åsgard and co-mingled with other Åsgard production for storage and export by shuttle tankers to the market. The development cost is estimated at NOK 9.1 billion (2022-NOK). Total Norwegian content of the development cost excluding drilling is estimated at 71% and 60% for drilling. Norwegian content of operating cost is estimated at 80%. The employment effect in the development and operation phase is around 420...

02/18/2019 McDermott International, Inc. (NYSE: MDR) today announced two sizeable* contracts, one from Sarawak Shell Berhad (SSB) and one from Sapura Exploration and Production (SEP), to provide transportation and installation of offshore structures, pipelines and pre-commissioning work for the Pan Malaysia field development located off the shore of Sarawak, Malaysia. McDermott's scope of work for SSB includes the transportation and installation of jackets, topsides and pipelines for the Gorek gas field. The company's scope of work for SEP includes the transportation and installation of jackets, topsides and pipelines for the Larak and Bakong gas fields . McDermott will also fabricate risers and spools for SSB and SEP. "These two contracts give McDermott the opportunity to strengthen our long-standing relationship with Sarawak Shell Berhad and develop a new relationship with Sapura Exploration and Production," said Ian Prescott, McDermott's Senior Vice President f...