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Turan Drilling & Engineering, a KCA Deutag and SOCAR AQS Company, has secured a contract extension, with a value of US$300 million, for the provision of offshore drilling operations and maintenance services in Azerbaijan.
Saipem, in consortium with National Petroleum Construction Company (NPCC), has signed today a letter of award with ADNOC for a new contract related to the Hail and Ghasha development project.
The company has also signed an agreement to sell to Suncor the entirety of the shares of TotalEnergies EP Canada Ltd., comprising its participation in the Fort Hills oil sands asset and associated midstream commitments.
The company has awarded a US$615 million (AED 2.26 billion) engineering, procurement and construction (EPC) contract to Petrofac Emirates for constructing carbon capture units, pipeline infrastructure and a network of wells for carbon dioxide injection at the Habshan gas processing plant.
Preliminary estimates indicate a total structure discovered volume of 5 trillion ft3 of gas in place with a content of condensate estimated up to 400 milion bbl.
The company forecasts that even in scenarios of 1.9 – 2.5°C warming, with rapid growth in renewable energy sources, the current set of existing gas fields will not meet global demand, requiring rapid growth in unconventional gas supply.
The company has announced that drilling has commenced on the Ofelia appraisal well in the Norwegian sector of the North Sea.
The company has reported that substantial drilling activity, averaging 53 000 wells per year through to 2030, will help elevate production of crude, condensate, natural gas and natural gas liquids (NGLs) to a high of 173 million boe/d by 2030, up 9% from 159 million boe/d in 2022.
As part of its scope, DeepOcean removed six subsea conductors and four vertical supports at varying water depths and removed the upper conductor guideframes with an estimated weight of 400 t.
This acquisition adds to HEYCO’s expanding European portfolio, following the purchase of a gas field in Northern Spain and the establishment of a Madrid office in 2022.
As consideration for the sale, Talos received US$74.85 million in cash at closing, with an additional US$49.90 million due upon first production, for an aggregate price of US$124.75 million.
The contract covers the manufacture and installation of subsea production systems, flexible and rigid pipe, and umbilicals, as well as connection to the host facility.