Baker Hughes opens facility in Guyana
The new multimodal supercentre has been built together with Baker Hughes’ existing completion warehouse and liquid mud and completion fluids plant, providing full support to customers in Guyana and Suriname.
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The new multimodal supercentre has been built together with Baker Hughes’ existing completion warehouse and liquid mud and completion fluids plant, providing full support to customers in Guyana and Suriname.
Production at the Liza Unity FPSO vessel is expected to reach its target of 220 000 barrels of oil later this year.
In 4Q21, the oil and gas industry saw an increase of 77% in overall contract value.
Petrofac has been awarded two new contracts with Cairn Oil & Gas, Vedanta Ltd.
Drilling is expected to commence within the next week after allowing for towing and set up.
Rami Khrais, Oil & Gas Analyst at GlobalData, has said that the project will be one of the largest oil developments seen in Africa over the last 20 years, expecting to recover over 1.5 billion barrels of oil.
The extended contract covers 2 drilling rigs, 13 workover units and 13 pulling units on Pan American’s Cerro Dragon field in the Golfo San Jorge basin in southern Argentina.
This increase in the EIA’s forecast of crude oil production is largely based on their interpretation of the January 2022 OPEC+ meeting, when participants reaffirmed their decision to continue to increase output by 0.4 million bpd each month until all of the production cuts are reversed.
BCCK, along with its sister company NG Resources, will design and build the facility.
Woodside has operated in Myanmar since 2013, conducting multiple exploration and drilling campaigns.
The 10-year contract comes with options to extend for a further two years and, with those options included, has a total value around US$550 million.
The increased production is due mainly to production start-up from the Gjøa P1 infill development in February and the Duva field tie-back in August.