Rigzone takes a quick look at five offshore developments expected to make an impact in 2014.
Hydrocarbon usage on a global scale continues to increase at a steady rate. While developed countries need a steady supply of energy resources to maintain dominance, developing countries need new resources close to home to provide a cheap supply of oil and gas to fuel burgeoning economies. As a result, companies associated with the oil and gas industry are tasked with meeting these demands by ensuring a stable supply of resources. Efforts to bring new discoveries into production and to extend the commercial life of existing assets continue daily. Listed below are five active projects in the U.S. Gulf of Mexico and North Sea set to come online in 2014.
The Hess Corp.-operated Tubular Bells development is located in the Mississippi Canyon region of the U.S. Gulf of Mexico in 4,300 feet of water. Production and injection wells from two drill centers will be tied back to the first spar-based floating production system (FPS) built entirely in the United States. Startup of the $2.8-billion project is tentatively scheduled for late 2014. Production is expected to peak at roughly 45,000 boepd. Some of the companies involved in the work scope are AMEC plc, Williams Partners LP, InterMoor Inc. and Technip S.A.
Jack/ St. Malo
Chevron Corp. discovered the Jack and St. Malo fields in the Walker Ridge area of the U.S. Gulf of Mexico in 2004 and 2003 respectively. In 2010, the company made the decision to tie both fields back to a single semisubmersible floating production unit (FPU) moored in 7,000 feet of water. The FPU was designed with the capacity to process 170,000 bopd and 42 MMcf/d. With production scheduled to commence in late 2014, Chevron expects the $7.5-billion project to have a commercial life of 30 years with estimated recoverable oil-equivalent resources in excess of 500 million barrels. Companies participating in the project include Mustang Engineering L.P., Cameron International Corp., Technip, KBR Inc. and First Subsea, among others.
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