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KBR announced that its joint venture with SOCAR, who is undertaking the engineering design phase of the Azeri Central East (ACE) platform, is now nearing completion. The ACE platform is the first of its kind to be designed through all phases, from concept to front-end engineering design and detailed design, to fully use KBR’s digital twin technology. The benefits of the digital twin continue to be used as the ACE platform moves into fabrication and commissioning, which is being undertaken in Azerbaijan. Digital twin technology creates a platform for all involved in the process to access all project information from anywhere in the world through all phases. The technology allows users to view procurement status and materials availability.
Africa (Sub-Sahara) Chevron has begun oil and gas production from the Lianzi Field, a subsea project in 3,000 ft of water that is expected to achieve production of 40,000 BOPD. Situated in a unitized zone between Congo and Angola, Lianzi is the first cross-border offshore oil development in Central Africa. A 27-mile electrically heated subsea production flowline is the industry's first at this depth. Chevron is the operator with a 31.25% The field partners include Total(26.75%), Eni discovered gas and condensate in the Nkala Marine prospect offshore Congo. The discovery could hold from 250 MMBOE to 350 million MMBOE in place, the company said.
Africa (Sub-Sahara) Marathon Oil has produced first gas from its Alba B3 compression platform offshore Equatorial Guinea. The startup enables the company to convert approximately 130 million BOE of proved undeveloped reserves, which more than doubles its remaining proved developed reserve base in the country. Marathon holds an operating interest of about 65% in the field, with Noble Energy holding the remaining stake. Aminex said that gas production from the Kiliwani North-1 well in Tanzania has reached 30 MMcf/D (about 5,000 BOE/D). The project's commissioning process is expected to conclude with a well test to determine the optimal production rate, which previous test data suggest will be approximately 30 MMcf/D, the company said. The operator of the Kiliwani North Development License, Aminex holds a 54.575% interest in the well. Asia Pacific Beach Energy produced first gas from the Udacha field in Production Retention License 26 of the Cooper Basin in South Australia.
Latin America-Caribbean Petrobras and CNPC have signed a memorandum of understanding in Beijing to begin negotiations on a strategic partnership, Petrobras has reported. The companies agreed in the document to jointly evaluate opportunities in Brazil and abroad in key areas of mutual interest. Petrobras, the Brazilian national oil company, said in a news release on its website that partnerships will represent an important strategy in its 2017–2021 business plan because of the potential benefits of risk sharing, increasing investment capacity, technological exchange, and strengthening corporate governance. YPF, Total, Wintershall, and BP have announced a USD 1.15-billion joint investment to increase shale gas production in Argentina. The provincial government in Neuquén, where the resource-rich Vaca Muerta Shale is located, has agreed to split the Aguada Pichana area into two parts and combine it with the Aguada de Castro area.
Africa (Sub-Sahara) Equatorial Guinea's Ministry of Mines and Hydrocarbons has notified Ophir Energy that it will not gain an extension for the offshore Block R license. Targeted production was approximately 330 MMcf/D, with a plateau of 30 years. Located approximately 140 km west of Bioko Island, the Fortuna project was to see development of six commercial discoveries in a phased manner. In November 2016, the British oil and gas company created a joint operating company with OneLNG to develop the floating LNG project at the Fortuna gas discovery. Asia Pacific Thailand's Department of Mineral Fuels (DMF) has awarded state oil company PTTEP production-sharing contracts for both the offshore G1/61 (Erawan) and G2/61 (Bongkot) projects.
Africa (Sub-Sahara) BP and Kosmos Energy discovered 30 m of net gas pay in good-quality Albian reservoir in the Greater Tortue development area, offshore Senegal. The Greater Tortue Ahmeyim-1 was drilled to a TD of 4884 m in 2500 m of water on the eastern anticline within the unit development area. Other partners are SMPHM and Petrosen. Invictus Energy said results of independent estimates strongly support the possible existence of 1.3 billion BOE at its Cahorra Bassa Basin project in the Muzarabani prospective area of Zimbabwe. Estimates are for total prospective resource of 9.25 Tcf of gas plus 294 million bbl of conventional gas and condensate. Eni confirmed 650 million bbl of oil in place with its Agogo-2 appraisal well in Block 5/06, offshore Angola. The well was drilled to total depth of 3949 m in 1700 m of water, where it encountered 58 m of 31 API oil.
Schlumberger is getting rid of its struggling OneStim business unit 2 years after an acquisition that doubled its size. It will get 37% of the shares of Liberty Oilfield Services, which said it will be the second-largest player in that sector. The new geothermal project development company will offer expertise in subsurface and drilling, project development, and risk mitigation. A lot about the blowout preventers used for offshore drilling has changed since Macondo in 2010, but the essentials remain. This evolution serves as a case study on why some oilfield technology is hard to change.
The service companies plan to co-market an emerging well control system that can integrate with established managed-pressure-drilling components to enhance well construction safety and efficiency. A former chief operating officer at Exterran Corp. will take the helm of the Houston-based oilfield services company in October. Weatherford announced that Mark A. McCollum, president, CEO, and a director, has left the company, effectively immediately. With US oil prices struggling to top $25, oil companies and service providers are making deeper cuts this month to cope. The biggest come from Halliburton which may have shed 5,000 total jobs since the start of the year.
An economic downturn and global pandemic are among many issues US midstream operators are dealing with in 2020, including exposure to upstream bankruptcies, limited M&A activity, and regulatory issues. What will 2020 look like for the oil and gas, energy, and petrochemical markets? Here are 10 observations from ADI Analytics that demonstrate just how global and complex the energy mix has become. After a planned acquisition of Goodnight fell through, private equity firm Tailwater Capital is boosting its total investment in the water midstream company to more than $500 million. Goodnight recently signed five long-term contracts with producers in the Delaware Basin and the Bakken.