The French oil and gas company’s partners in Block 20/11 are Petronas Angola E&P and Sonangol Pesquisa & Produção with stakes of 40% and 20%, respectively. The remaining 40% interest is owned by TotalEnergies’ subsidiary TotalEnergies E&P Angola Block 20, which is the operator of the concession.

Located 100km off the coast, and in a water depth of 1,700m, the Kaminho project is said to be the first large deepwater development in the Kwanza basin.

The deepwater project involves the conversion of a very large crude carrier (VLCC) to a floating production storage and offloading (FPSO) unit, which will be linked to a subsea production network.

Angola Minister of Mineral Resources, Oil & Gas Diamantino de Azevedo said: “This partnership is for us of extreme importance, as it creates a joint operating entity between Sonangol and TotalEnergies in production phase.

“It is also relevant that the contracts signed today include national companies and contribute to local content with more than 10 million hours of work to be performed by local companies”.

According to TotalEnergies, the all-electric FPSO will reduce greenhouse gas emissions and eliminate routine flaring. Associated gas will be reinjected fully into the reservoirs, said the company.

The production at the Kaminho deepwater project is slated to commence in 2028, with an expected peak production of 70,000 barrels of oil per day (bopd).

The offshore oil project would involve more than 10 million man-hours in Angola. This will be primarily for offshore operations and construction at local yards.

TotalEnergies chairman and CEO Patrick Pouyanné said: “Building on our pioneering spirit and our long-term partnership with Angola, we are pleased to launch the Kaminho project along with our strategic partners, Sonangol and Petronas, and the strong support and confidence of the Angolan authorities.

“This project, which leverages innovation to fit with our investment criteria – breakeven under 30 $/b and carbon intensity of 16 kg CO₂e/boe – will become our seventh FPSO in the country and the first-ever development in the Kwanza basin.”

Separately, TotalEnergies has awarded three new contracts worth $3.7bn to Saipem pertaining to the Kaminho project.

Under the first contract, Saipem will deliver the engineering, procurement, construction, transportation, and commissioning of the Kaminho FPSO vessel.

The second contract covers the operation and maintenance (O&M) of the same FPSO vessel for a firm period of 12 years. It can also be extended by an additional eight years.

Saipem’s scope for the third contract encompasses the engineering, procurement, supply, construction, installation, pre-commissioning, and assistance for the commissioning and start-up of a subsea, umbilicals, risers, and flowlines (SURF) package.

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The British oil and gas exploration and production company plans the drilling of the offshore development in the first half of 2025. Following the drilling, the Belinda field will be tied back to the Triton floating production storage and offloading (FPSO).

Located in Block 21/30f around 6km southeast of the Triton FPSO, the offshore field was discovered in 1990 and appraised in 2016. It is being developed as a single well tieback to the Triton FPSO.

According to Serica Energy, the Belinda field holds estimated proven and probable reserves of nearly 5 million barrels of oil equivalent (mboe) which represents 80% oil.

Production from the field is slated to begin in Q1 2026 upon the completion of the tie-back work to the Triton FPSO.

The Belinda field is the fifth well in Serica Energy’s Triton area drilling campaign which started last month using the COSLInnovator drilling rig. The area consists of eight producing oil fields.

They are namely Evelyn, Clapham, Pict, Bittern, Guillemot West, Guillemot Northwest, Gannet E and Saxon. All of the producing wells are designed to improve production through the Triton FPSO.

Serica Energy chairman and Interim CEO David Latin said: “We are delighted to have received approval to develop Belinda. This will build on our strong track record of delivering growth and adding value through investment in our assets.

“We have further potential projects in our portfolio which we continue to assess, including the possible re-development of the Kyle field, which could, like Belinda, be another low emissions tie-back candidate to the Triton FPSO.

“We look to the UK government to implement tax and licensing arrangements that support investments like Belinda, thereby creating UK jobs, earnings and tax receipts instead of increasing reliance on energy imports.”

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GASCADE Gastransport GmbH is the owner and developer of the pipeline. The pipeline is the first marine section of the Baltic Connector Pipeline.

The OAL pipeline consists of four sections: the Lumbin land section, the sea section from Lumbin to Kilometre Point 26 (KP 26), the sea section from KP 26 to Mukran, and the land section in Mukran.

Each section requires independent approvals from the Bergamt Stralsund, the mining authority of Stralsund.

The Lumbin land section was approved by the Bergamt Stralsund in February 2023, the sea section from Lumbin to KP 26 in August 2023, the sea section from KP 26 to Mukran in October 2023, and the land section in Mukran received approval in August 2023.

The construction of the pipeline was completed in January 2024. The goal of enabling gas feed-in in the winter of 2023/2024 has been achieved.

The pipeline is expected to commence the transport of gas in February 2024.

Ostsee Anbindungsleitung Location Details

The Ostsee Anbindungsleitung Subsea Pipeline serves as an interconnection between the Liquefied Natural Gas (LNG) Terminal in the port of Mukran and the German Pipeline Network in Lubmin, Germany.

Ostsee Anbindungsleitung Subsea Pipeline Details

The 48-inch offshore Ostsee Anbindungsleitung Subsea Pipeline is a high-strength steel pipe with a diameter of 1.2m and a wall thickness of at least 26.8mm.

The pipeline is provided with a concrete casing of 90mm so that it is stable on the seabed and is buried with a covering of 0.50m*2.55m depending upon the local conditions.

The pipeline connects the LNG terminal located in the port of Mukran with the pipeline network of Germany located in Lumbin.

The LNG terminal in the port of Mukran is a planned project which will include two Floating Storage and Regasification Units (FSRUs).

The LNG terminal is being developed by Deutsche ReGas and is planned to be commissioned in the winter of 2024. GASCADE is the transmission system operator of the terminal and will connect the terminal to the gas transmission system of Germany.

The OAL subsea pipeline will strengthen the supply security of Germany by feeding the re-gasified LNG into the German Gas Grid.

The pipeline will also support the transport of green hydrogen in the medium term. In the long term, the pipeline can feed green hydrogen into the German Hydrogen Core Network through the entry point in Mukran.

The site at Lumbin will be an important point in the development of the German Hydrogen Network.

From Lumbin, the green hydrogen will be transported southwards around the Baltic Sea to the industrial consumption centres located in the eastern and southern Hesse and Baden-Württemberg.

Baden-Württemberg is a part of the Flow-Making Hydrogen Happen Project. The project is a part of the German Hydrogen Core Network.

The OAL pipeline, along with the EUGAL and OPAL long-distance pipelines, would provide substantial transport capacities from the Lumbin coast in the northeast to the main consumption centres in Germany and Central and South-Eastern Europe.

Key Construction Process Details

The process of laying the pipeline consists of three steps: construction of a pipe trench, welding and laying of the pipe string, and backfilling and restoration of the seabed.

For constructing the trench, the dredged material was transported on transport vessels called hopper barges to an underwater intermediate storage facility.

The individual pipes were welded together in a pipe string on a special vessel, a laying barge.

The pipe string was laid into the trench on the seabed in a controlled S-curve. This is known as the S-lay process.

The S-lay process is the method of laying large-diameter offshore pipelines over long distances at average water depths.

Through Above-Water-Tie-In (AWTI), a final laying step, all individual pipe strings are joined together. During the construction of the OAL pipeline, two AWTIs were conducted.

The pipeline was laid after the alignment of two pipe strings. This was followed by backfilling of the pipe trench with a sand-gravel mixture as the first layer and the original material from the trench as the second layer.

Contractors Involved

In February 2024, ABL successfully installed the OAL subsea pipeline. The installation was a part of the marine warranty survey contract awarded by GASCADE.

The scope of the survey also included transportation of the pipeline to the site.

The day-to-day management of the project was conducted by the ABL team in Hamburg, Germany.

The technical expertise was ensured by the consultants from ABL Germany, Norway, Holland, and France.

CMS Legal represented GASCADE in a proceeding before the Federal Administrative Court against the fast-track action brought by Deutsche Umwelthilfe and NABU.

Deutsche Umwelthilfe and NABU pleaded against the approval granted by the Stralsund Department of Mining for the construction and operation of the pipeline.

In January 2024, the Federal Court delivered its judgement to continue with the construction and operation of the pipeline.

Deutsche Umwelthilfe also brought a petition against the project in September 2023.

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Petronas has been awarded the Bobara working area, located offshore of West Papua, Eastern Indonesia, during the third round of Indonesia Petroleum Bid Round 2023.

Under the terms of the PSC, the new acreage will see three geological and geophysical studies in the first three years, including 2,000km² of 3D seismic data acquisition and processing.

Currently, Petronas is the operator for the Ketapang, North Madura II, and North Ketapang PSCs, located offshore East Java.

Also, the company is a joint venture partner in five PSCs, both onshore and offshore Sumatra, Natuna Sea, East Java, as well as East Indonesia.

Petronas upstream CEO and executive vice president Datuk Adif Zulkifli said: “The signing of the Bobara PSC marks a significant milestone in our steadfast commitment to sustainable energy exploration and development in the region.

“This reflects PETRONAS’ long-term dedication to supporting the Republic of Indonesia’s aspiration to achieve the 2030 production targets.

“Petronas appreciates the unwavering support and trust given by the Government of Indonesia to unlock the hydrocarbon potential in this exciting frontier area.”

In a separate development, Petronas’ subsidiary PC Ketapang II (PCK2L) has extended the PSC for the Ketapang Contract Area, located in the Java Sea, until 2048.

The PSC extension follows approval by the Government of Indonesia, through the Ministry of Energy and Mineral Resources on 21st December last year.

Under the extended PSC, PCK2L will continue to hold 77.6% interest, alongside Saka Ketapang Perdana and Petrogas Jatim Sampang Energi, and will be the operator of the contract area.

PCK2L president and country head Yuzaini Yusof said: “Not only will this 20-year PSC extension drive our continuous growth in Indonesia but solidifies our portfolio in East Java where we also operate two other Contract Areas.

“The support from the Government of Indonesia for this extension provides us with even greater confidence, enabling us to play a more effective role in supporting the country’s energy landscape.

“We are profoundly appreciative for this support, as we collaborate with the Government towards achieving Indonesia’s 2030 production targets.”

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The agreement aims to enhance value creation and promote more efficient resource management in the companies’ operations on the Haltenbanken.

For Equinor, the move will see the firm increasing its stakes in the Heidrun field and Noatun discovery while reducing its ownership in the Tyrihans field, the Castberg field, and the Carmen and Beta discoveries.

The companies believe that the agreement will facilitate enhanced value creation for the Heidrun and Kristin/Tyrihans areas.

Currently, Equinor holds a 13% equity interest in Heidrun, with Petoro having a stake of 57.8%. Petoro will swap out ownership interests of 21.4% in Heidrun and 7.5% in Noatun.

In return, Petoro will receive ownership interests of 22.5% in Tyrihans, 3.7% in Johan Castberg, 9.3% in the Carmen discovery, and 10% in the Beta discovery. For Tyrihans, Equinor’s ownership stands at 58.8%, while Petoro does not hold any stake.

Petoro CEO Kristin Kragseth said: “Our good dialogue with Equinor has allowed us to reach an agreement that will lead to greater harmonisation and equalisation of important ownership interests.

“We are very confident that this will contribute to a more comprehensive and value-driven development of these fields, in the best interests of all involved parties.”

The Heidrun and Tyrihans fields are among the largest producers in the Halten area. According to Equinor, Heidrun is recognised for its long remaining life on the Norwegian continental shelf.

Upon completion of the transaction, Equinor’s stake in Heidrun will rise to 34.4%, while Petoro’s interest will adjust to 36.4%.

For Tyrihans, Equinor’s ownership will be reduced to 36.3%, and Petoro will gain a 22.5% share. Additionally, Equinor’s ownership in the Johan Castberg field will be 46.3%.

Equinor exploration and production Norway executive vice president Kjetil Hove said: “We have a strategy to continue the development and the value creation on the Norwegian continental shelf and expect to maintain a high production with lower emissions towards 2035.

“Alignment of ownership around the larger production hubs are important enablers for long-term value creation.”

The asset swap agreement is contingent upon various regulatory approvals, including the Norwegian Parliament’s consent. The effective date of the agreement is set for 1 January 2025.

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The agreement between Odfjell Well Services Norway AS and COSL Drilling Europe AS underscores the confidence placed in Odfjell Technology’s expertise and capability within the industry. Under the terms of the contract, Odfjell Technology will provide comprehensive Tubular Running Services, ensuring the smooth and efficient operation of COSL Drilling Europe AS’s offshore drilling activities.

“We are pleased to announce this significant contract with COSL Drilling Europe AS,” said Elisabeth Haram, EVP of Well Services. “This contract further strengthens our long-standing relationship with COSL and demonstrates their trust in Odfjell Technology’s ability to deliver high-quality services. We look forward to leveraging our expertise and capabilities to support COSL Drilling Europe AS’s operations over the coming years.”

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LEP is guided by Dinesh Kumar Sarraf, former chairman and managing director of India’s premier E&P company, Oil and Natural Gas Corporation Ltd (ONGC). Under his visionary leadership, Mr. Sarraf has spearheaded numerous international ventures and managed assets valued at over $15 billion. His expertise and strategic insights are now steering LEP towards giant (500-million barrel) and super-giant (3-billion+ barrel) oil fields that were previously overlooked in Latin America. Mr. Sarraf is supported by a team of distinguished energy industry experts, who have actively been involved in global oil and gas exploration for decades.

“Our alliance with GEMXX provides us with the expert manpower necessary to elevate our project to global standards,” stated Mr. Sarraf. “We are setting the stage for groundbreaking developments in oil exploration.

Preliminary explorations in two target basins have been promising, revealing extensive sedimentary deposits conducive to successful oil and gas systems. Estimates suggest these basins may hold over 1 billion barrels each of recoverable oil, offering GEMXX and LEP an extraordinary chance to establish a footprint in the global oil and gas market.

“We are excited for this strategic partnership with Latin Energy Partners, which perfectly aligns with our long-term goals,” said Richard Clowater, CEO of GEMXX. “We are eager to combine our expertise to fully harness the potential of these promising basins.”

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The acquisition includes around 450 miles (724km) of pipelines that carry natural gas liquids (NGL) and hydrocarbons throughout the Texas and Louisiana Gulf Coast midstream corridors.

The Houston, Texas-based midstream company will retain and continue to operate its NGL and olefins storage business in Markham, Texas.

The transaction is expected to be completed mid-year 2024, subject to customary conditions including termination of the waiting periods under the Hart-Scott-Rodino Act.

ONEOK intends to connect the acquired pipelines to its Mont Belvieu, Texas NGL infrastructure and Houston refined products and crude oil infrastructure, to advance commercial synergies.

ONEOK president and CEO Pierce Norton II said: “This strategic acquisition provides the quickest pipeline connectivity to and within the critical supply and demand centres for our NGLs, refined products and crude oil assets in the Gulf Coast.

“We expect that this acquisition will accelerate the ability to capture commercial synergies related to our recent Magellan acquisition and future earnings growth.”

Easton is a portfolio company of Cresta Fund Management (Cresta), a Dallas-based private equity fund that manages over $1.6bn of capital.

The company owns salt dome storage infrastructure, located between major NGL and petrochemical markets in Mont Belvieu and Corpus Christi, Texas.

The infrastructure includes brine handling facilities and multiple salt dome wells with around 40 million barrels of NGL and olefins storage capacity.

Cresta managing partner Chris Rozzell said: “This transaction confirms the potential Cresta saw in these pipelines when we acquired them in 2018.

“We are enthusiastic about Easton’s sharpened focus on its storage business and are excited about its ability to provide services to a variety of different NGL customers.”

Easton CEO Jerry Cardillo said: “These pipelines are a critical piece of the U.S. Gulf Coast NGL and hydrocarbon value chain. This transaction recognizes value for our customers, shareholders, and our business partners. We will now pivot our focus to our remaining business, our NGL and olefins storage business.”

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According to ADNOC Drilling, UAE’s capital Abu Dhabi currently has an estimated 220 billion barrels of unconventional oil alongside 460 trillion cubic feet (TCF) of unconventional gas.

To fulfil the contract and explore future opportunities in unconventional resources, ADNOC Drilling has established a new company, Turnwell Industries.

The new subsidiary of ADNOC Drilling will be responsible for delivering 144 unconventional oil and gas wells. Turnwell Industries will mainly focus on unconventional drilling operations.

ADNOC Drilling has also signed a term sheet to form a partnership with Schlumberger Middle East, a subsidiary of SLB, and Patterson-UTI International. This partnership is contingent upon the signing of definitive agreements and obtaining necessary regulatory approvals.

Both Schlumberger Middle East and Patterson-UTI are expected to hold minority equity interests in Turnwell Industries.

In exchange for their equity interest, Patterson-UTI plans to provide drilling, completion, and other oilfield service expertise to Turnwell Industries, along with a limited cash contribution for working capital.

ADNOC Drilling CEO Abdulrahman Abdulla Al Seiari said: “Abu Dhabi’s unconventional energy resources are among the world’s largest. This award, for 144 wells is just the beginning.

“It represents a transformational opportunity for ADNOC Drilling as the UAE’s world class unconventional energy resources will require many thousands more wells and we are in a prime position to deliver them.”

The initial phase of unconventional resource development is expected to utilise up to nine land rigs, five of which are already part of ADNOC Drilling’s fleet as of 31 December 2023.

The contract is anticipated to begin contributing to ADNOC Drilling’s revenue in the second half of this year.

ADNOC Drilling will utilise innovations in artificial intelligence (AI) powered smart drilling design, completions engineering, and production solutions. This initiative is supported by Enersol, its recent joint venture with Alpha Dhabi.

Enersol will enhance its scalable technology ecosystem through investments in and acquisitions of AI-enabled solutions and innovative technologies.

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TechnipFMC will design, manufacture, and install the subsea production system, flexible pipe, and umbilicals for the Xena Infill well (XNA03) to support ongoing production from the Pluto LNG Project. The award follows an integrated front end engineering design (iFEED) study.

The project will use the Company’s Subsea 2.0 production system. Xena Phase 3 will be tied back to existing subsea infrastructure previously supplied by TechnipFMC.

Jonathan Landes, President, Subsea at TechnipFMC, commented: “We are proud to be delivering a fully integrated project from concept to execution. This project will help our long-term client meet their objectives, demonstrating the favorable impact iFEED, iEPCI, and Subsea 2.0 can have on project economics.”

The contract is the latest call-off on the framework agreement between Woodside Energy and TechnipFMC.

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