Page 17 - LatAmOil Week 12 2020

LatAmOil
NEWS IN BRIEF
LatAmOil
SERVICES
Lankhorst Offshore to
supply mooring lines
for Liza Unity FPSO
Leading deepwater mooring rope manufacturer Lankhorst Offshore has been awarded a contract by SBM Offshore to supply the mooring lines for the Liza Unity floating production storage and off-loading (FPSO) unit for ExxonMobil’s Liza oil field offshore Guyana, South America. This follows the successful deployment of Lankhorst mooring lines for the Liza Destiny FPSO moor- ing system also in the Liza field.
The Liza Unity FPSO will be spread moored at a water depth of 1,600 metres with 20 Cabral 512 deepwater mooring lines with a minimum breaking strength of 12,300 kN. Each mooring line measures 2,320 metres in length, totalling 46,400 metres. When deployed, the mooring line will comprise a chain top segment, polyes- ter rope middle segment and chain bottom seg- ment, connected to a suction pile anchor.
The ABS class approved Cabral 512 rope construction features a specially designed filter, preventing ingress of sand while the mooring lines are pre-laid on the seabed ahead of the Liza Unity FPSO arriving on station.
The Liza Unity is based on SBM Offshore’s Fast4Ward® FPSO design. For these two Liza FPSOs, Lankhorst Offshore has developed a “standardized” deepwater mooring model to reduce lead times.
In addition to reducing the number of ship- ping reels by loading longer mooring line lengths or multiple segments on each reel, Lankhorst has also introduced reusable shipping rope reels/cra- dles that can be returned to its manufacturing facilities. These enable a more sustainable supply of deepwater mooring lines.
The Liza Unity mooring lines will reuse the 16 shipping reels returned from the Liza Destiny mooring.
“We fully support SBM Offshore’s Fast4Ward FPSO design approach. By introducing a stand- ardised manufacturing model combined with reusable shipping reels, we too are playing our part in reducing the capital costs of deepwater mooring and increasing sustainability,” says Neil Schulz, sales director, Lankhorst Offshore.
Cabral 512 polyester ropes utilise a rope construction that is optimised for deepwater mooring applications. Manufactured from high efficiency sub-rope cores laid parallel within an outer braided jacket, each sub-rope is monitored during rope manufacture to ensure all sub-ropes have equal tension and length. The Cabral 512 ropes will be manufactured at Lankhorst Off- shore’s factory, dedicated to the production of
offshore mooring systems, in Viana do Castelo, Portugal.
Lankhorst Offshore, March 16 2020
INVESTMENT
Petrobras provides update on sale of its interest
in E&P assets in Espirito Santo Basin
Petrobras, following up on the release dated Jan- uary 15, 2020, has announced the beginning of the binding phase regarding the sale of its entire interest in two sets of offshore concessions, Golf- inho Cluster and Camarupim Cluster, located in deep waters in the Espirito Santo Basin in Espírito Santo state.
Qualified parties for this phase will receive a process letter with instructions on the divest- ment process, including guidelines for due dili- gence and submission of binding proposals.
Golfinho Cluster is located at a water depth between 1,300 metres and 2,200 metres, com- prising the fields of Golfinho, oil producer, and Canapu, non-associated gas producer, and the BM-ES-23 exploratory block. The average total production of the fields between 2018 and 2019 was 15,000 bpd of oil and 750,000 cubic metres per day of gas.
Camarupim Cluster is located in a water depth between 100 metres and 1,050 metres, comprising the unitised fields of Camarupim and Camarupim Norte, both producers of non-associated gas.
Petrobras has 100% stake in the Golfinho and Camarupim Cluster concessions, with the exception of the BM-ES-23 exploratory block, in which it holds a 65% majority stake, in part- nership with PTTEP (20%) and Inpex (15%). Petrobras is the operator in all concessions. (The process of acquisition by Petrobras of Ouro Pre- to’s stake in Camarupim Norte field was started in August 2018 and is expected to be concluded in the second quarter of 2020.)
Petrobras, March 22 2020
Petrobras to postpone sale of refineries
Petrobras, due to the prevention measures to the coronavirus, will postpone the receipt of binding offers in the processes of divestment in down- stream and its respective logistic assets, in order to ensure the effective performance of due dili- gence by potential buyers.
The processes include the refineries Abreu
e Lima (RNEST) in Pernambuco, Landulpho Alves (RLAM) in Bahia, Presidente Getúlio Vargas (REPAR) and the Shale Industrialisa- tion Unit (SIX) in Paraná, Alberto Pasqualini (REFAP) in Rio Grande do Sul, Gabriel Passos Refinery(REGAP)inMinasGerais,IsaacSabbá Refinery (REMAN) in Amazonas, Lubrificantes e Derivados de Petróleo do Nordeste (LUBNOR) in Ceará.
Petrobras reinforces its commitment to the project to sell the downstream assets and their respective logistic assets, as specified in its 2020- 2024 Strategic Plan.
Petrobras, March 20 2020
Falklands: Rockhopper,
partners committed to
Sea Lion farmout despite
oil price weakness
Rockhopper Exploration, the oil and gas explo- ration and production company with key inter- ests in the North Falkland Basin, has provided an update in response to current market uncer- tainty related to COVID-19 and commodity price weakness.
In January 2020, Rockhopper and Premier Oil announced that a detailed Heads of Terms had been signed with Navitas Petroleum to farm in for a 30% interest in the Sea Lion project. Good progress has been made during the first quarter of 2020 to convert the Heads of Terms into fully documented agreements. Despite the current oil price weakness, all parties remain committed to the finalisation of the Navitas farm out agreement with completion subject to agreed consents and approvals.
With the Company’s modest presence in Italy already having been substantially scaled back, the Company’s day to day operations remain unaffected by the spread of COVID-19 with necessary contingency measures in place.
Recent initiatives by the Company, includ- ing the sale of Rockhopper Egypt together with the legally binding Heads of Terms signed with Premier Oil, place the Company in a relatively stable financial position with cash at March 13, 2020, of approximately $23mn (unaudited), no debt and with limited exposure to future devel- opment costs (excluding licence fees, taxes, costs incurred prior to 1 January 2020 and project wind down costs) at Sea Lion. The Company continues to actively manage its corporate costs with G&A in 2019 of approximately $5.3mn (unaudited).
In addition, the Company confirms that it intends to announce its full-year 2019 results on or around April 7, 2020.
Rockhopper Exploration, March 19 2020
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