Page 10 - MEOG Week 33

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Drilling JV to work on Qatar’s North Field Expansion
Qatar
SEADRILL and Gulf Drilling International (GDI) have concluded a joint venture agreement that will carry out work on Qatar Petroleum (QP)’s North Field Expansion (NFE) project.
The 50:50 GulfDrill JV will initially man- age and operate ve jack-ups for QP, with the deals beginning at various points during 2020 and “initial terms concluding in 2023 and 2024 respectively”.
e contracts are valued at a total of around $656mn which includes mobilisation fees, but they include options that could increase this by $700mn,
e estimated $20bn expansion of the North Field has been the focus of external and internal attention on the Qatari energy sector since it was launched around two years ago.
The scheme is designed to raise upstream output by 1.4mn barrels of oil equivalent per day (boepd) to 6.2mn boepd and expand LNG pro- duction by 31mn tonnes per year (tpy) to 110mn tpy.
GulfDrill will initially charter West Telesto and West Castor from Seadrill, with the latter saying that bareboat charters had been secured “for three additional units from a third-party shipyard”.
Seadrill CEo Anton Dibowitz said that the new JV would o er the opportunity for the com- pany to strengthen its relationship with QP.
In July, state-owned QP awarded a front- end engineering and design (FEED) contract to uS-based services rm McDermott for NFE.
The FEED contract covers wellhead
platforms, pipelines and cables. In a press release, McDermott said that the scope of the work entails the design of four offshore trunklines with intra- eld pipelines, eight wellhead plat- forms and power and bre-optic (PFo) subsea cable rings. e contract is worth up to $50mn.
The scheme is designed to raise upstream output by 1.4mn barrels of oil equivalent per day (boepd) to 6.2mn boepd and expand LNG pro- duction by 31mn tonnes per year (tpy) to 110mn tpy.
e contracting process on the NFE is well underway, with a tender for the four new LNG trains issued in mid-April. on April 22, QP turned to the transportation process, issuing a tender for potentially in excess of 100 LNG tankers.
e main package, worth several billion dol- lars, covers four 7.8mn-tpy LNG ‘mega-trains’ at the site where 14 trains of varying sizes currently produce just over 77mn tpy.
Japan’s Chiyoda Corp. was selected for the FEED contract in March 2018 and in joint venture (JV) with TechnipFMC, is the strong favourite. Chiyoda and TechnipFMC installed the six previous mega-trains at the complex, completed last decade before the imposition of a 12-year development moratorium at the eld.
e contracting process on the NFE is well underway, with a tender for the four new LNG trains issued in mid-April to three EPC JVs: Chi- yoda and TechnipFMC; JGC Corp. and Hyun- dai Engineering & Construction; and Saipem, McDermott and CTCI Corp.™
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w w w . N E W S B A S E . c o m Week 33 20•August•2019