World news
Issue 1 2021
Up to 120 million bbl discovered near Fram field Equinor and partners Vår Energi, Idemitsu Petroleum and Neptune Energy have made the biggest discovery so far this year on the Norwegian continental shelf (NCS). Preliminary estimates place the size of the discovery between 12 and 19 million m3 of recoverable oil equivalent, corresponding to 75 – 120 million bbl of recoverable oil equivalent. Exploration wells 31/2-22 S and 31/2-22 A in the Blasto prospect of production licences 090, 090 I and 090 E were drilled about 3 km southwest of the Fram field, 11 km northwest of the Troll field and 120 km northwest of Bergen. Exploration well 31/2-22 S struck a total oil column of around 30 m in the upper part of the Sognefjord formation and an oil column of around 50 m in the lower part of the Sognefjord formation. The oil-water contacts were proven at 1860 and 1960 m respectively. Exploration well 31/2-22 A struck high-quality sandstone in the Sognefjord formation, but the reservoir is filled with water and the well is classified as dry. Regarding the discovery to be commercially viable, the licensees will consider tying it to other discoveries and existing infrastructure in the area. The wells were not formation tested, but extensive data acquisition and sampling have been carried out. Well 31/2-22 S was drilled to a vertical depth of 2282 m below sea level and a measured depth of 2379 m below sea level. Well 31/2-22 A was drilled to a vertical depth of 2035 m below sea level and a measured depth of 2207 m below sea level. Water depth in the area is 349 m. The wells have been permanently plugged and abandoned.
Noble Corp. and Pacific Drilling to merge
Eni and SONATRACH sign agreements
Noble Corp. and Pacific Drilling Co. LLC have entered into a definitive merger agreement under which Noble will acquire Pacific Drilling in an all-stock transaction. The definitive merger agreement was unanimously approved by each company’s Board of Directors. The transaction has also been approved by a majority of Pacific Drilling’s equity holders, and no shareholder vote is required for Noble to close the transaction. As part of the transaction, Pacific Drilling’s equity holders will receive 16.6 million shares of Noble, or approximately 24.9% of the outstanding shares of Noble at closing. Noble expects to realise annual pre-tax cost synergies of at least US$30 million, and additionally, will move to dispose of the Pacific Bora and Pacific Mistral drillships expeditiously. The transaction is expected to be completed in April 2021. Pro forma for the acquisition, Noble will own and operate a high specification fleet of 24 rigs, with 11 drillships, 1 semisubmersible, and 12 jackups.
Eni and SONATRACH have signed various agreements covering exploration and production, research and development and decarbonisation. The first agreement aims to implement a programme for the relaunch of exploration and development activities in the Berkine Basin region and provides for the creation of a gas and crude oil development hub through a synergy with existing MLE-CAFC installations. This agreement is part of the process for the finalisation of a new hydrocarbon contract in the basin, under the aegis of the new Algerian oil law which came into force in December 2019. A Memorandum of Understanding was also signed for the development of a partnership in new technologies, with a focus on renewable energy, biofuels and hydrogen. The two companies have also agreed to collaborate in staff training programmes in the upstream industry and new technologies related to the energy transition.
In brief UK Aker BP UK, a newly established subsidiary of Aker BP in Norway, has entered into an agreement with Eni UK to take over a 50% interest in licence P2511 on the UK Continental Shelf. The key objective for the partnership between Eni UK and Aker BP UK is to explore the resource potential across the UK border in the greater Alvheim area.
Norway INEOS Energy is to sell its oil and gas business in Norway to PGNiG Upstream Norway AS for a consideration of US$615 million. The deal includes all INEOS Oil & Gas interests in production, licenses, fields, facilities and pipelines on the Norwegian continental shelf. INEOS E&P Norge AS produces around 33 000 boe/d from the Norwegian Sea, and has a 93% gas ratio from three non-operated fields: Ormen Lange (14%), Alve (15%) and Marulk (30%). The business also holds 22 offshore licenses, of which six are operated.
Mexico Doris has been selected by BHP Petroleum subsidiary BHP Billiton Petróleo Operaciones de Mexico, S. De R. L. De C.V. to continue into the next phase of engineering work at the Trion field: FEED for the subsea umbilicals risers and flowlines (SURF) scope of work. The Trion field encompasses an area of 1285 km2 and is located in the Mexican waters of the Gulf of Mexico, at a water depth of approximately 2500 m. BHP is the operator, holding a 60% interest in the development, with PEMEX Exploration and Production holding the remaining 40% interest.
Issue 1 2021 Oilfield Technology | 5
