Seatrium Awarded Contract for a Deepwater New-build Floating Production Unit in the US Gulf of Mexico
Seatrium has signed a contract for the engineering, procurement, construction, and onshore commissioning (EPC) of BP’s Kaskida Floating Production Unit (FPU) in the US Gulf of Mexico.
Made of a single topside module supported by a four-column semi-submersible hull, Kaskida is a greenfield development located in the Keathley Canyon area of the GOM, 250 miles off the coast of New Orleans.
The topsides for Kaskida will be integrated and lifted to the hull using Seatrium’s Goliath twin cranes.
The Kaskida FPU has a capacity to produce 80,000 bbl of crude oil per day from six wells in the first phase of development.
Equinor Makes Discovery Near Troll Field
Equinor has made a discovery 17 km west of the Troll field in the North Sea.
The discovery, called Ringand, consists of both oil and gas and is currently estimated at between 2 MMBOE and 12 MMBOE barrels of oil equivalent.
This is the second discovery in a short time in the area.
"It's a small discovery, but in an interesting area that we plan to further explore with much existing infrastructure." Geir Sørtveit, Equinor's senior vice president for Exploration & Production West on the Norwegian continental shelf (NCS), told media in a press release.
The well was drilled by the Deepsea Atlantic drilling rig.
Chevron and Woodside Swap Australian Assets
Chevron Australia and Woodside Energy have agreed to an asset swap of their assets in Western Australia.
Under the proposed transaction, Chevron will transfer its 16.67% percent non-operated interest in the North West Shelf (NWS) Project, NWS Oil Project and its 20% non-operated interest in the Angel Carbon Capture and Storage (CCS) Project to Woodside.
In return Chevron will receive `Woodside’s 13% non-operated interest in the Wheatstone Project and 65% operatorship in the Julimar-Brunello Project.
“This transaction will enable us to consolidate our focus and resources on key assets we operate in Western Australia, in this case our Wheatstone Project,” said Mark Hatfield, Managing Director Chevron Australia.
In addition, Chevron will make a cash payment to Woodside of up to $400 million, contingent upon the execution and handover of the Julimar Phase 3 Project from Woodside.
Vår Energi Makes Discovery Near Goliat
Vår Energi has discovered oil in its Countach appraisal well in the Barents Sea.
The preliminary estimated gross recoverable resources in the well, which is located near the Goliat field, are between 4 MMBOE to 25MMBOE.
The appraisal well was drilled following the 2023 Countach discovery of 3 to 13 MMBOE. This discovery, which is located about 13 km northeast of the Goliat FPSO, coupled with the results from the well, increase the estimated gross recoverable resources for the discovery to between 10 to 55 MMBOE.
“Three more wells are expected to be drilled in 2025, the Zagato North, Zagato South, and Goliat North wells, targeting similar opportunities in the Goliat ridge between the Goliat field and the Countach discovery,” Rød said.
Estimated additional gross prospective recoverable resources at Zagato North, Zagato South and Goliat North are estimated to exceed 100 MMBOE. To assist further development of the Goliat area, Vår Energi is planning to acquire new 3D and 4D seismic during 2025.
Vår Energi operates the license with 65% of interest, while Equinor owns the remaining 35%.
CNOOC Begins Production at Panyu Oilfield Project
In early January, CNOOC announced that production at its Panyu 11-12/10-1/10-2 Oilfield Adjustment Joint Development Project begun.
The project is located in eastern South China Sea, in an average water depth of 100 m. 15 development wells are planned to be commissioned; the project is expected to achieve a peak production of approximately 13,600 BOED in 2025.
The main production facilities include a new wellhead platform and an unmanned wellhead platform. The unmanned wellhead platform comes with intelligent safety and oil processing systems and connects to the existing Panyu 10-2 platform through a trestle bridge, so that the oilfields can share facilities and equipment.
CNOOC Ltd. holds 100% interest in this project and is the operator.
Murphy Makes Discovery Offshore Vietnam
Subsidiary of Murphy Oil Corp., Murphy Cuu Long Tay Oil Co., has struck oil at the Hai Su Vang-1X exploration well in Block 15-2/17 in the Cuu Long Basin. The well, located 40 miles offshore Vietnam, has an estimated resource potential of 170 MMBOE to 430 MMBOE.
Hai Su Vang is one of multiple exploration prospects that Murphy has identified in the basin. Additional evaluation is ongoing and future appraisal drilling will be conducted.
Murphy Cuu Long Tay Oil operates the block with a 40% working interest. PetroVietnam Exploration Production holds 35% and SK Earthon holds the remaining 25%.
Petronas Reaches FID on Hidayah field
PC North Madura II Ltd., a subsidiary of Petronas, has made the final investment decision (FID) for the development of the Hidayah field, located in the North Madura II contract area, East Java, Indonesia.
The development plan includes the drilling of oil production wells, supported by an unmanned integrated wellhead and central processing platform. The plan also includes an FPSO equipped with living quarters and a central control room.
Petronas currently operates the Ketapang, North Madura II, and North Ketapang PSCs offshore East Java, as well as the Bobara PSC, offshore West Papua. The company is also a joint venture partner in five PSCs spanning onshore and offshore Sumatra, the Natuna Sea, East Java, as well as East Indonesia.
PC North Madura II Ltd. is the operator of the Hidayah field with 100% participating interest.
Talos Encounters Oil in US GOM
Talos Energy’s Katmai West #2 well successfully encountered commercial quantities of oil and natural gas.
First production from the well, located in the Ewing Bank area of the U.S Gulf of Mexico (GOM), is expected in the late second quarter 2025.
The successful appraisal from Katmai West #2 well, coupled with strong performance from Katmai West #1 well, have nearly doubled the proved estimated ultimate recovery of the entire Katmai West field to approximately 50 MMBOE gross, which further affirms the company's expected total resource potential of approximately 100 MMBOE gross.
The well will be connected to the existing subsea infrastructure that flows to the Tarantula facility, which has been expanded to increase capacity to 35 MBoe/d. Talos anticipates the Katmai wells will be rate-constrained under the upgraded capacity, allowing for extended flat-to-low decline production from the facility.
Talos, as operator, holds a 50% working interest, with entities managed by Ridgewood Energy Corp. holding the other 50% in Katmai West field. Talos is the 100% owner and operator of the Tarantula facility.
