World Projects

World Projects

CANADA - Core Bay du Nord Development, Equinor, $9.56 billion

The Canadian Government has granted approval to the Bay du Nord oil project. The field will be developed with an FPSO with a capacity of around 1 MMbbl of oil and equipped with a quick connect-disconnect mooring and riser system due to the iceberg-prone location.

CONGO BRAZZAVILLE - Marine XII FLNG, Eni, $500 million

A second FLNG is to be sanctioned off the coast of Congo Brazzaville. To be located on the Marine XII block which contains 10 tcf of gas. New Fortess Energy (NFE) has been contracted to supply its 1.4mtpa rig based modular ‘Fast LNG’ vessel, which uses a jackup to house the liquefaction technology. The aim is for the vessel to be on location in the third quarter of 2023.

ANGOLA - Ndungu Oil Field – FPSO, Eni, $1 billion

Following the drilling of the Ndungu 2 appraisal well, intensive data acquisition was performed to assess the full potential of the discovery. Preliminary data suggests reserves of up to 1 Bboe in place. Eni is now considering utilising an FPSO to develop the field.

NORWAY - Kveikje Oil & Gas Discovery, Equinor, $250 million

Equinor has discovered oil and gas at Kveijke in the Norwegian North Sea, within licence PL-293B. Preliminary estimates suggest recoverable resources are between 28-48 MMboe. The discovery is close vicinity other recent discoveries: Swisher (8km) and Toppand (10km), meaning Kveijke could be developed as part of an area cluster development. Another option is to tie back the discovery to the existing infrastructure located nearby.

GUYANA - Yellowtail Oil Field, ExxonMobil, $10 billion

ExxonMobil, following approval of the field development plan by Guyana’s government, has made a final investment decision to develop the field. SBM Offshore and McDermott have been awarded the EPC contract for the FPSO. SBM Offshore will be responsible for constructing, installing, leasing and finally operating the One Guyana FPSO, a Fast4Ward programme unit, for up to two years.

MOROCCO - Anchois Gas Field, Chariot Oil & Gas, $400 million

Chariot has announced the results of the Anchois-2 well which was completed in January 2022. The well encountered a net pay of approximately 150 metres of excellent quality dry gas. Further studies will be undertaken on the economics of the development of the discovery. The initial concept put forward involved two to three wells tied back with a 14-inch pipeline to an onshore central processing facility.

CYPRUS - Glaucus Gas Field, ExxonMobil, $250 million

ExxonMobil has completed the drilling of Glaucus-2 appraisal well and confirmed the presence of a gas reservoir with high-quality characteristics. ExxonMobil and partners will proceed with detailed analysis and evaluation to assess the commerciality of the discovery. Preliminary estimates have put the find at between 5 Tcf and 8 Tcf of potential gas resources.

NEW ZEALAND - South Taranaki Offshore Wind Farm, Copenhagen Infrastructure Partners, $7 billion

Copenhagen Infrastructure Partners (CIP) has set-up a new joint venture company with NZ Super Fund to explore the potential for an offshore wind farm development in the South Taranaki Bight. The companies are proposing to develop a 1,000MW project which could later expand to 2,000MW. The project is currently in the early stages of project feasibility evaluation.

SAUDI ARABIA - Rabigh Carbon Capture Plant, Gulf Cryo, $500 million

Development of carbon capture plant which is located at Rabigh Petrochemical cluster in Saudi Arabia. The Rabigh Petrochemical has a capacity of 600,000 metric tonnes per year. Gulf Cryo will build and operate the facility which is expected to become operational by Q2 2023.

OMAN - Green Energy Oman, Intercontinental Energy, $10 billion

Worley has been awarded the contract for the feasibility study of the Green Energy Oman (GEO) project. Worley will conduct the studies from its Muscat office with support from its Europe’s Centre of Excellence. At full capacity, the project will be powered by 25 GW of renewable energy to produce 1.8 million tonnes per annum of green hydrogen and 10 million tonnes of green ammonia.