There is scope for further finds in the Llanos Basin licence. Arrow acquired 3D seismic with some “very exciting” results. The company now plans to drill some low-risk exploration wells in 2024 with a second rig, just north of the Carrizales Norte field.
The $9 billion project would aim to produce these fields, through subsea wells, to an FPSO. The facility would be around 150 km off the Suriname coast, with the reserves in water depths ranging from 100 to 1,000 metres.
Alaska’s congressional delegation cast the moves as irresponsible, with Republican Senator Lisa Murkowski saying they represented “incoherent energy policy.”
Molecular said Argentina is “economically and politically volatile and unstable and has degraded materially” since it invested.
The FPU would follow the same model as the Vito and Whale facilities, with Seatrium involved in both.
“We are looking forward to leveraging Simon’s experience in respect of our ongoing arbitration regarding Ombrina Mare, and Paul’s expertise in securing FID for offshore energy projects.”
The company has signed up the Noble Discoverer to carry out the work. The Noble-owned rig will come from Suriname, where it will be under contract with Petronas between August and November.
Denbury’s Rocky Mountain assets are connected to Exxon’s Shute Creek gas facility near LaBarge, Wyoming, which has captured more carbon than any other asset in the US.
Drilling costs have been an issue at the Wei well. In June, CGX reported these had risen to $190-195mn. Before drilling, the companies had predicted $130-140mn.
Pemex discovered Trion in 2012. The Mexican company brought BHP Billiton in to the plan in 2016 in order to help develop the field. Now, the companies have drilled six wells on the field. Woodside bought BHP in 2022.
“We are planning to fast track the first exploration well on Buenos Ayres within the next 12-18 months, subject to acquiring environmental approvals.”
“The successful commissioning of the Enping 15-1 oilfield CCS demonstration project will strongly support the company’s efforts in increasing reserves and production and pursuing green and low-carbon development,” said CEO Zhou Xinhuai.
The deal valued PDC at $6.3 billion, or $72 per share. The company is currently trading at around $65, with the deal offering a 11% premium.
Perenco bought a 100% stake in the Pargo, Carapeba and Vermelho fields from Petrobras. After adjustments, Perenco paid $398 million for the assets offshore Rio de Janeiro state. It also took over the decommissioning liability.
SBM said it would operate the units via an Integrated Operation Model. This will involve seconding ExxonMobil Guyana employees to some onshore and offshore positions.
Six FPSOs could be producing on Stabroek by the end of 2027, with capacity of more than 1.2 million bpd. The number of FPSOs could rise to 10, aiming to produce the more than 11 billion barrels.
Speaking this morning at a media roundtable, Wintershall CEO Mario Mehren said the company was focused on two strategic priorities. “Diversification, through moderate growth for our E&P business. And decarbonisation, by building up our carbon management and hydrogen business.”
Where Vito has led, Shell’s Whale will follow. The company reached FID on Whale in 2021 and it is due to begin producing in 2024.
Operations had returned to normal in the third quarter in Gabon, Maurel said. The company began a well stimulation campaign in the fourth quarter of 2022, with the field now capable of producing more than 21,000 bpd.
Explorers are “taking a measured view and holding budgets and activity steady whilst trying to improve overall exploration efficiency”, Westwood said.
Transocean ordered the two drillships in February 2014, agreeing to pay $540 million for each of the vessels. Sembcorp said it would deliver the rigs in 2017 and 2018.
ExxonMobil has scored another two finds offshore Guyana its incredibly prolific Stabroek block.
APA Corp has discovered oil offshore Suriname on Block 53, while abandoning another well on Block 58.
ExxonMobil has made another two discoveries in the Stabroek block, bringing the total number of its finds offshore Guyana to more than 25.
Shell is buying a 51% stake in the North Platte development, in the US Gulf of Mexico, from Equinor, the Norwegian company has revealed.