Exploration, field development and production are in full swing as E&Ps reported news on several projects across the world.
The latest headlines include another oil discovery in the North Sea, the start of full field development of the Ratawi oil field in Iraq, a contract award for commissioning services for the BP-operated Kaskida floating production unit (FPU) in the deepwater Gulf of America and peak production for the Vår Energi-operated Jotun FPSO.
Below is a compilation of some global E&P news.
Exploration
Egypt Signs Oil, Gas Exploration Deals Worth Over $121MM
(Reuters) Egypt signed three investment agreements worth more than $121 million for oil and gas exploration in the Western desert, Suez Gulf and north of Sinai, the Egyptian petroleum ministry said Sept. 14.
The deals were with Parenco Egypt, Dubai-based Dragon Oil and Apache, for approximately $46 million, $40.5 million and $35 million, respectively.
The first deal aims to re-award the North Sinai offshore area to Parenco Egypt with investments to drill three wells. Parenco Egypt is a subsidiary of Egypt Kuwait Holding Co.
The Dragon Oil deal is also for three wells while Apache’s agreement for the Western Dessert will include five new exploration areas, drilling 14 wells.
Okea, Partners Strike Oil in Norwegian North Sea
Okea and partners discovered oil near the Brage Field in the Norwegian sector of the North Sea, the Norwegian Offshore Directorate (NOD) said Sept. 11.
Developers are considering tying the discovery back to Brage. The well was drilled from Brage in production license (PL) 055 to a depth of 10,223 ft.
The preliminary estimated size of the discoveries was between 2 MMbbl and 7 MMbbl in the Cook Formation and between 14 MMbbl and 26 MMbbl in the Statfjord group in the Talisker area, the NOD said.
Wellbore 31/4-A-15 B encountered 25 m of oil in the Cook Formation, in sandstone layers totaling 52.4 m with moderate reservoir properties. In the Statfjord group, the wellbore encountered 63 m of oil in a total of 171 m of sandstone with moderate to good reservoir properties.
Okea’s partners in PL 055 are Lime Petroleum, DNO Norge, Petrolia NOCO and M Vest Energy.
Gate Energy on Sept. 15 said it was selected to provide commissioning services for the BP-operated Kaskida FPU in the deepwater Gulf of America.
The company will collaborate with Seatrium, the project’s engineering procurement and construction provider. Located in the Gulf’s Keathley Canyon area, the greenfield project unlocking the Paleogene is expected to have a nameplate production capacity of 80,000 bbl/d of oil from six wells during its first phase.
“Collaborating with Seatrium on the Kaskida project is a continuation of the strong working relationship we've built together on previous deepwater developments,” said Mark Myhre, president of commissioning at Gate Energy. “Following our successful delivery of commissioning on BP’s Argos platform, we’re proud to bring that same level of commitment and technical excellence to the Kaskida project.”
Gate said its work scope includes static and dynamic commissioning, systems completion management and interface coordination.
Kaskida will be BP’s sixth operated hub in the Gulf.
TotalEnergies Start Work on Final Two GGIP Projects in Iraq
TotalEnergies started full field development of the Ratawi oil field in Iraq, the company said Sept. 15, aiming to increase production to 210,000 bbl/d in 2028.
With a no routine flaring target, TotalEnergies said all 160 Mcf/d of associated gas produced will be fully processed as part of the 300 Mcf/d Gas Midstream Project (GMP). Construction for the gas midstream project began in early 2025.
TotalEnergies also announced the construction start for the Common Seawater Supply Project. Located in Um Qasr, the project will process and transport 5 MMbbl/d of seawater to oil fields in southern Iraq. The project is expected to alleviate water stress in the region by utilizing treated seawater instead of freshwater, freeing up 250,000 cu. m of freshwater per day for irrigation and local agriculture needs, the company said.
The Ratawi and Common Seawater Supply projects mark the last two contracts of the Gas Growth Integrated Project (GGIP) led by TotalEnergies with partners Basra Oil Co. and QatarEnergy.
TotalEnergies CEO Patrick Pouyanné also confirmed the first phase of the associated gas, oil and solar projects will start-up as soon as early 2026.
Woodside Wins Environmental Approval for North West Shelf Project Extension
Australian regulators have grant environmental approval for Woodside Energy’s North West Shelf project extension, the company said Sept. 12.
The approval paves the path for ongoing operations for the Karratha Gas Plant beyond 2030.
“This final approval provides certainty for the ongoing operation of the North West Shelf Project, so it can continue to provide reliable energy supplies as it has for more than 40 years,” said Woodside Executive Vice President and COO, Australia, Liz Westcott.
The project, located in northwestern Australia, includes a network of offshore oil and gas infrastructure and an onshore processing facility in Karratha, Western Australia. It has provided more than 6,000 petajoules of domestic gas.
The Australian government’s approval includes a requirement for additional air emissions monitoring and management to protect the Dampier Archipelago National Heritage Place, Woodside said.
The Vår Energi-operated Jotun FPSO reached peak production ahead of schedule. (Source: Vår Energi)
Norwegian Continental Shelf producer Vår Energi on Sept. 10 said the Jotun FPSO reached peak production ahead of schedule, producing more than 80,000 boe/d gross.
Jotun, which located in the North Sea’s Balder Field, was brought onstream in June. All 14 subsea production wells are producing.
“The rapid ramp-up to peak production at the Jotun FPSO, alongside strong performance across our portfolio, puts us on track to meet our production target of around 430 kboepd [430,000 boe/d] in the fourth quarter of this year,” said Vår Energi CEO Nick Walker. “With the new facilities in the Balder area designed to extend production beyond 2045 we are on track to create more value from the area.”
The company said Balder Phase V and VI are underway.
Vår Energi is operator (90%) of the Balder Field with partner Kistos Energy Norway AS (10%).
Business
Energean Secures $4B in New Israeli Gas Offtake, Conflicts Hurt Output
(Reuters) Eastern Mediterranean-focused gas producer Energean secured $4 billion worth of new Israeli gas offtake contracts in the first half of the year, the group said Sept. 11, bringing its contract pipeline to $20 billion over the next two decades.
However, the London-listed group cut its annual production forecast for the second time in nearly four months because of a temporary production suspension in Israel in June.
Energean, which aims to expand in its core locations, including Israel and Egypt and is seeking new business in West Africa, also reported an 11% drop in its core profit in six months to June 30, while after-tax profit jumped nearly 24%.
It now expects this year’s production at 145,000 boe/d to 155,000 boe/d, down from 160,000 boe/d to 175,000 boe/d seen in May, after Israel ordered it to stop production at its Karish offshore field during its conflict with Iran.
Energean reported first-half adjusted EBITDAX of $505 million and after-tax profit of $110 million.
In Egypt, the group estimates there is a further 3 Tcf of gas under its existing platforms, CEO Mathios Rigas told Reuters.
Offshore Israel, Energean was weighing drilling into yet untapped formations in deep Mesozoic rocks in Block 23, which could be a “new play opener for the whole East (Mediterranean),” Rigas said. Energean would seek a partner, though, for such a complex well, which probably must wait until stability returned to the region, he said.
Energean also expects up to 2 Bcm a year from its Katlan field off Israel, due to start production in 2027, to be carried on the planned Nitzana pipeline from Israel to Egypt after that is yet to be built, Rigas said.
Technology
Bureau Veritas Awards Approval in Principle to MODEC for FSIU Concept
Japan-based MODEC was awarded an approval in principle from Bureau Veritas Marine & Offshore, confirming its novel floating storage and injection unit concept can receive, temporarily store and inject CO2.
The LCO2 FSIU, developed in collaboration with Mitsui OSK Lines (MOL), serves as an offshore storage and injection hub capable of injecting up to 10 million tonnes per annum.
“While this FSIU is a new concept, each component on the unit is not necessarily new to MODEC,” said Arata Kamishohara, vice president of business and project development at MODEC. “MODEC has experience of CO2 injection (removed from pre-combustion produced gas) and dual (oil) offloading system. All the utility systems are similar to what we do on FPSOs every day.”
As explained by MODEC, the unit can receive the LCO2 transported in a low-pressure condition, store and inject it into subsea wells at high pressure for permanent sequestration.
Equipped with a diesel engine generator with an integrated carbon capture system, the unit will feature tandem loading at the aft and simultaneous side-by-side loading at the midship port side. This, MODEC said, enables flexible and efficient LCO2 transfer from LCO2 carriers, up to 90,000 cu. m capacity (tandem) and up to 50,000 cu. m (side-by-side).
“This project demonstrates how established offshore expertise can be applied to enable safe, reliable and scalable carbon storage solutions,” said Matthieu de Tugny, executive vice president of industrials and commodities at Bureau Veritas.
Hart Energy Staff and Reuters contributed to this report.
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