From a milestone at Atlanta Phase 1 to new contracts, below is a compilation of the latest headlines in the E&P space.
Activity headlines
Atlanta Phase 1 Milestone Reached
Enauta Participações SA said Feb. 5 that it had reached milestones on its Atlanta Phase 1 project offshore Brazil in January.
The early system is fully producing, with three wells in operation averaging more than 21,000 boe/d.
On Jan. 21, the first subsea multiphase pumping system (MPP), manufactured by OneSubsea, was loaded in Norway bound for Brazil. The MPP will be installed to support Atlanta’s oil and gas production and its on-scheduled delivery highlighted one of the key challenges to reach the FPSO Atlanta’s first oil schedule by August 2024.
Contracts and company news
Saipem Reports Castarone Incident
Saipem reported an early morning Jan. 30 incident on the Castorone pipelay vessel off the waters of Australia during normal pipelay operations.
Saipem said there were no injuries. Saipem said the vessel didn’t sustain major damage but reported localized damage to the trunkline. Saipem said the damage will be remediated.
In a follow-up release, Saipem said a buckle occurred while laying pipeline. An initial investigation indicated a software anomaly could be the cause.
Titania Jackup Wins Work offshore Mexico
Paratus Energy Services Ltd. announced Feb. 1 that SeaMex Holdings Ltd. and related subsidiaries won a one-year contract for the Titania jackup in Mexico from an unnamed customer.
The new contract will contribute approximately $55 million in backlog and is expected to begin in mid-February 2024.
TGS, SLB for GoM OBN Acquisition
TGS, in collaboration with SLB, announced on Feb. 5 the Engagement 5 Ocean Bottom Node (OBN) multi-client acquisition in the U.S. Gulf of Mexico.
The seventh program within the seismic joint venture involves the acquisition of 157 Outer Continental Shelf blocks covering 3,650 sq km through a long offset, sparse OBN survey that will start in the first quarter of 2024.
The expansion of data coverage in the eastern region of Green Canyon will adjoin with prior phases, establishing a continuous coverage area spanning over 23,000 sq km from the Mississippi Canyon area in the east to the Garden Banks area in the west.
The project is supported by industry funding.
Recommended Reading
Exxon’s Guyana Gas Project a “Win-Win,” Set for Hook-up by Year-end ‘24
2024-04-26 - Exxon Mobil Corp. CEO Darren Woods said the company’s gas-to-power project in Guyana as a “win-win proposition particularly for the people of Guyana” when completed and hooked-up by year-end 2024.
Segrist: The LNG Pause and a Big, Dumb Question
2024-04-25 - In trying to understand the White House’s decision to pause LNG export permits and wondering if it’s just a red herring, one big, dumb question must be asked.
Texas LNG Export Plant Signs Additional Offtake Deal With EQT
2024-04-23 - Glenfarne Group LLC's proposed Texas LNG export plant in Brownsville has signed an additional tolling agreement with EQT Corp. to provide natural gas liquefaction services of an additional 1.5 mtpa over 20 years.
US Refiners to Face Tighter Heavy Spreads this Summer TPH
2024-04-22 - Tudor, Pickering, Holt and Co. (TPH) expects fairly tight heavy crude discounts in the U.S. this summer and beyond owing to lower imports of Canadian, Mexican and Venezuelan crudes.
What's Affecting Oil Prices This Week? (April 22, 2024)
2024-04-22 - Stratas Advisors predict that despite geopolitical tensions, the oil supply will not be disrupted, even with the U.S. House of Representatives inserting sanctions on Iran’s oil exports.