Deepwater

Total to proceed with Ikike project offshore Nigeria

January 22, 2019 | Budget & Investment, Deepwater, Nigeria, Oilfield Services

London, UK |- French multinational oil and energy group Total will formally approve a decision to proceed with the Ikike project in the OML 99 licence offshore Nigeria. The company has earmarked the 60,000bpd Ikike project for a final investment decision (FID). Other projects earmarked for FID include the deepwater Preowei project, which will have a capacity of 70,000bpd and is expected to help Total increase its oil production. Total CEO Patrick Pouyanne was quoted by Reuters as saying: “There is a huge potential in …

Total Nigeria’s Egina FPSO to move to site by Q4 2018

August 08, 2018 | Deepwater, Nigeria, Offshore, Rigs & Vessels

Lagos, Nigeria | – The Nigerian National Petroleum Corporation, NNPC, Total Upstream Nigeria Limited, TUPNI and her partners have concluded plans to move the Egina Floating, Production, Storage and Offloading unit (FPSO) to site in December this year. The planned movement of the facility is based on the expected completion of integration, currently on-going at Ladol in Lagos. In a recent statement, Total indicated that the facility arrived Nigeria from South Korea in January this year according to Nigerian daily newspaper, Vanguard. It stated: “The …

NNPC, Shell, others to take FID on Bonga SW deepwater oilfield in 2019

August 08, 2018 | Budget & Investment, Company Operations, Deepwater, Nigeria

Lagos, Nigeria — The Shell Nigeria Exploration and Production Company (SNEPCo)  Tuesday said it hoped to conclude negotiations soon on a commercial framework for the expansion of the Bonga deepwater oil field, after which a final investment decision will be taken to start the project, billed to add around 1 billion barrels to Nigeria’s oil reserves. Shell previously said it expects to take the FID on the Bonga Southwest/Aparo field development project in 2018, but this seemed increasingly unlikely after legal disputes between Shell and …

Total strikes first oil from offshore Brazilian mega-field

November 28, 2017 | Deepwater, Rigs & Vessels, South America

London, UK | – French multinational oil giant, Total SA, have announce the first oil from the Libra mega-field, located 180 kilometres of Rio de Janeiro. The floating production, storage and offloading (FPSO) unit Pionerio de Libra is located in unltra-deep water and has a 50,000 barrel capacity. The start-up phase of production will focus on generating initial revenue and capturing technical data to streamline the development stage. The Libra development will continue to search for further investment  in the Libra 1 FSPO, which has …

Transocean to buy Norwegian rig firm Songa Offshore for $1.1 billion

August 15, 2017 | Deepwater, Mergers, Acquisitions & JVs, Rigs & Vessels

London, UK | – Transocean Ltd, one of the world’s biggest drilling rig operators, has agreed to a deal to buy Norwegian competitor Songa Offshore SE for 9.1 billion Norwegian crowns (US$1.1 billion), the two companies said Aug. 15. The deal, which would be mostly paid for in shares and convertible bonds, would strengthen Transocean’s position in offshore drilling as Songa is Norwegian oil major Statoil ASA’s largest drilling service provider. The offer values Songa shares at 47.50 Norwegian crowns each, a 39.7% premium over …

Nigeria, Shell lose $250million in deferred revenue to Bonga oil field closure

April 05, 2017 | Company Operations, Deepwater, Nigeria

Lagos, Nigeria | – The Nigerian government and Shell Nigeria Exploration and Production Company Limited (SNEPCo) a subsidiary of Royal Dutch Shell Plc have lost about $250 million since March 4, when the oil super major commenced the turnaround maintenance of the Bonga deepwater oilfield, where statutory activities are being executed to ensure continuous optimum operations at the field, reports local newspaper ThisDay. Investigations revealed that the 225,000 barrels per day capacity oilfield was producing about 150,000 barrels per day before it was shut down. …

Water injection delays slow ramp-up at TEN offshore Ghana

November 11, 2016 | Company Operations, Deepwater, Ghana

London, UK | – Current oil production from the Tullow Oil -operated TEN Development offshore Ghana is about 50,000 b/d. The first offtake of 650,000 bbl was completed last month. Commissioning of the oil production, gas compression, and water injection systems continues, with all systems set to be fully operational by year-end. However, production ramp-up has been slower than expected due to water injection commissioning taking longer than planned, limiting the volume of water injected to date. Tullow is addressing this situation and the system can now inject …