Shell Increases Working Interest in the Ursa Platform
Shell has upped its stake in the Ursa platform in the US Gulf of Mexico from approximately 45 to 61%.
The acquisition completes a previously announced agreement with ConocoPhillips and is part of Shell’s strategy to invest in profitable and carbon-competitive oil and gas projects with a strong integrated value chain.
Shell is the operator of the Ursa tension-leg platform (TLP) with BP Exploration & Production Inc. holding approximately 23% interest and ECP GOM III LLC holding the remaining 16%.
The transaction also includes the following from ConocoPhillips:
- An 11.81% membership interest in the Shell-operated Ursa Oil Pipeline Co. LLC. The agreement has been adjusted following preferential rights election by partners, bringing Shell’s working interest in the Ursa pipeline from 45.39 to 57.20%.
- 1% working interest in the Europa prospect (also operated by Shell).
- 3.5% overriding royalty interest in Ursa.
Valeura Reaches FID on Wassana Field Redevelopment in Thailand
Valeura Energy announced the final investment decision (FID) on the redevelopment of the Wassana field, which is expected to substantially enhance shareholder value.
The field, located in License G10/48 offshore Gulf of Thailand, is 100% owned and operated by Valeura.
The redevelopment includes the construction of a new central processing platform with 24 production well slots, enabling more extensive drilling and extending the facility’s operational life. Currently, production in the field is carried out through a mobile offshore production unit, which is expected to reach the end of its operational life by the end of 2027. The redevelopment is expected to extend the field’s life until 2043.
The redevelopment is projected to yield first oil by the second quarter of 2027, with an expected peak production rate of 10,000 B/D, more than two times the current output.
Nippon Steel Engineering & Construction has been selected for the engineering, procurement, construction, and commissioning of the new facility.
APA Corp. and Partners Announce Successful Flow Test on Alaska’s North Slope
APA Corp. and partners Lagniappe Alaska and Santos Ltd. have conducted a successful flow test of the Sockeye-2 exploratory well.
The results of the test indicate significantly higher reservoir quality compared to similar topset discoveries to the west. Further appraisal drilling will determine the ultimate size of the discovery, but the flow test demonstrates the “exceptional productivity,” APA said in a press release.
“The results from the Sockeye-2 flow test are consistent with our expectations, demonstrating high-quality reservoir, confirming our geologic and geophysical models, and derisking additional prospectivity in the block. We will evaluate the data from the Sockeye-2 well to determine the next steps in our Alaska program,” added John J. Christmann, APA Corp. CEO.
Apache operates and holds a 50% working interest in the block; Lagniappe and Santos each hold 25% working interest.
BW Energy Makes Substantial Discovery Offshore Gabon
BW Energy has made a substantial oil discovery at its DBM-1 ST2 appraisal well in the Bourdon prospect.
Located in the Dussafu license offshore Gabon, 15 km west of FPSO BW Adolo and 7.5 km southeast of the MaBoMo production facility, initial estimates indicate about 56 million bbl oil in place, with approximately 25 million bbl considered recoverable.
“The appraisal well confirms the potential for establishing a new development cluster with a production facility following the MaBoMo blueprint. We expect at least four producing wells,” said Carl K. Arnet, CEO of BW Energy.
Petrobras Discovers High-Quality Oil in Santos Basin
Petrobras discovered high-quality oil at its exploratory well 3-BRSA-1396D-SPS in the Aram block of the Santos Basin.
The Aram consortium will begin laboratory analyses to characterize the conditions of the reservoirs and fluids found and evaluate the area’s full potential.
Two more wells will be drilled, and a drillstem test will be conducted as part of the appraisal plan. According to Brazil’s National Agency of Petroleum, Natural Gas, and Biofuels (ANP), the appraisal plan has a 2027 deadline, and additional data acquisition activities may be conducted.
Petrobras is the operator of the block and holds a working interest of 80% with CNPC holding the remaining 20%.
Perenco Discovers Additional Gas in Trinidad
Perenco, operator of the Teak, Samaan, and Poui (TSP) fields in Trinidad, has discovered more gas at its Onyx field following the successful drilling of the Onyx well and its sidetrack. The two legs encountered significant columns of natural gas in two separate geological compartments.
The Onyx field is an undeveloped gas discovery in the TSP license, located at a water depth of 180 ft between the Poui and Teak fields, off the southeast coast of Trinidad.
The next steps for the field involve Perenco evaluating the findings to guide future development considerations, which will be discussed collaboratively with the Ministry of Energy and Energy Industries and all relevant regulatory stakeholders.
Eni Announces Production Startup Offshore Indonesia
Eni has started gas production from the Merakes East field, in the Kutei basin, offshore Indonesia.
The Merakes East field located in the Eni-operated East Sepinggan block, in 1600 m of water, will contribute up to 100 MMscf/D of gas, or approximately 18,000 BOE/D, to Eni’s production.
The field is tied back through subsea connection to Eni’s Jangkrik floating production unit (FPU), located 50 km away. After initial processing onboard the FPU, the gas will be transported via pipe network to supply the domestic market and the Bontang liquefaction plant.
Kuwait’s KUFPEC Secures Approval To Develop Offshore Gas Block
The Kuwait Foreign Petroleum Exploration Co. (KUFPEC) has secured development approval for the Anambas working area in the Natuna Sea.
Final investment decision for the project is expected by the fourth quarter of 2025, with first gas production targeted for the end of 2027. Once operational, the block is projected to produce 55 MMscf/D of gas under a gross split production-sharing contract.
Development of the Anambas field includes drilling production wells from a wellhead platform, installing subsea pipelines, and connecting the field to existing facilities in West Natuna through established transportation infrastructure.
Once the field comes online, it is expected to supply gas for both domestic consumption and export markets. The ESDM Ministry and KUFPEC previously signed the gross split production-sharing contract for the Anambas block in June 2019, granting KUFPEC operational rights for 30 years, until 2049.
UAE Awards EOG Resources Onshore Exploration Concession for Unconventional Shale Block
Abu Dhabi’s Supreme Council for Financial and Economic Affairs has awarded EOG Resources with a new oil exploration concession for Unconventional Onshore Block 3 (UCO3).
The UCO3 concession area is 3,609 km2 in the Al Dhafra region of Abu Dhabi. EOG holds 100% equity and operatorship and, in coordination with ADNOC, will explore and appraise unconventional oil in the area.
Following a 3-year appraisal phase, EOG may enter into a production concession in which ADNOC has the option to participate. EOG currently expects to begin drilling in the second half of 2025.
ReconAfrica Signs MOU for Joint Exploration Project in Angola
Reconnaissance Energy Africa Ltd. has signed a memorandum of understanding (MOU) with Angola’s National Oil, Gas, and Biofuels Agency (ANPG) for a joint exploration project in the Etosha-Okavango basin, located onshore in southeastern Angola.
The project complements ReconAfrica’s activities in Namibia and highlights the potential of the Damara Fold Belt and Rift Basin by adding 5.2 million acres in Angola to the existing 6.3 million acres in Namibia within these highly prospective exploration plays.
Under the terms of the MOU, ReconAfrica will initiate and coordinate geological studies, conduct a regional oil and gas seep study, and plan for a 2D seismic program, as well as perform detailed geochemical analysis and sampling of any oil and gas seeps identified within the MOU area over a 24-month period.
Ownership interest in the MOU Area will be ReconAfrica with 80% working interest and Sonangol with 20% working interest. ReconAfrica will have exclusive rights during the MOU term.
