Neptune Begins Subsea Installation Work on Duva Field
Neptune Energy has begun the first subsea installation and construction campaign on the Duva field in the Norwegian North Sea, the company said on 30 July.
The integrated template structure (ITS) was the first large-scale piece of fabrication work to be completed for the Neptune-operated field, located in 1,181-ft water depth approximately 87 miles north of Bergen. Weather permitting, the company said it expects the installation campaign to last 5 days.
“By installing the ITS now, we are on track for undertaking drilling later this year, leaving us well-positioned to reach first oil in the fourth quarter of 2020,” Neptune Managing Director Odin Estensen said.
Norwegian authorities approved development plans for Duva and the nearby Gjøa P1 field in June. Both fields will be developed through subsea tiebacks to the nearby Gjøa platform. Neptune estimates total recoverable resources to be around 120 million BOE, and at its peak, it expects Duva to produce 30,000 BOE/D.
Duva will have three production wells, two oil production wells, and one gas producer, with the potential for an additional oil well. TechnipFMC will deliver the subsea tiebacks utilizing the Neptune Subsea Alliance Agreement, and Rosenberg Worley will provide the topside modifications.
Earlier this month, Polish state-owned oil company PGNiG acquired a 20% share in Duva from Wellesley Petroleum, a move that allowed Wellesley to redeploy development resources to its operated Grosbeak project. Neptune, Idemitsu Petroleum, and Pandion Energy are the other shareholders in the project.
ExxonMobil Eyes Sale of Malaysian Offshore Assets
A month after it got out of Norway, Bloomberg reports that the company is working with advisers on a potential Malaysian sale, which could raise as much as $3 billion. ExxonMobil plans to divest around $15 billion in nonstrategic assets by 2021.
Qatar Petroleum Takes Over Pair of Offshore Fields from Oxy
As Oxy looks to divest billions in assets and focus more on its prime US shale fields, it sheds itself of the ISND and ISSD fields off the eastern coast of Doha. In announcing the lease loss last year, Oxy said the fields need significant infrastructural investment.
Production Starts From Johan Sverdrup
Phase 1 of the North Sea megaproject—Norway’s largest offshore development since the 1980s—has come on stream. Johan Sverdrup is expected to produce 660,000 BOPD at its peak.
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