Esgian Week 40 Report: TotalEnergies Sanctions New Development

Esgian highlights news from TotalEnergies in its Week 40 Rig Analytics Market Roundup.

Report Summary

Drilling Activity and Discoveries

The Norwegian Ocean Industry Authority (Havtil) has given Aker BP consent to use the 492-ft jackup Noble Invincible for production drilling on the Tambar Øst (East) field offshore Norway.

TotalEnergies will resume exploration drilling in the Orange Basin offshore Namibia in the fourth quarter of 2024 with the Tamboti prospect, located in Block 2913B north of the company’s Venus discovery.

Aker BP has proven gas in appraisal well 6507/2-7 S in the Norwegian Sea, 230 kilometres west of Sandnessjøen.

Petrobras has informed that the gas potential in the Sirius-1 and Sirius-2 discoveries (formerly known as Uchuva-1 and Uchuva-2) is around 6 trillion cubic feet. This confirms the magnitude of the discoveries made in the Guajira Offshore Basin.

Valeura Energy has revised its work programme offshore Thailand to include more drilling than originally planned, with no addition to its capital budget.

Demand

Instead of the phased approach that EnergyPathways had originally intended for the Marram Project when it came to market last year, the company has moved directly to its more ambitious and higher-value Marram Energy Storage Hub (MESH Project). The company's main focus now is to move straight to the development of the upscaled MESH Project, rather than be limited by the fast-track standalone development of Marram.

Tower Resources has received a proposal for the financing of its planned NJOM-3 well offshore Cameroon via a farm-out of a minority position to another upstream company.

The UK’s North Sea Transition Authority (NSTA) has extended the Second Term of i3 Energy's P2358 Licence in the UK North Sea by 18 months, so that it will end on 31 March 2026.

TotalEnergies and its partner APA Corporation have announced the final investment decision (FID) for the GranMorgu development on Block 58, offshore Suriname. The project involves the development of the Krabdagu and Sapakara discoveries and includes a 220,000-barrel-per-day FPSO unit, designed to accommodate potential future tie-back developments. The GranMorgu FPSO will also incorporate technology aimed at reducing greenhouse gas emissions, with targeted scope 1 and 2 emissions intensity below 16 kg CO2e/boe. Around 32 wells, including production wells and water and gas injection wells, are expected to be drilled, utilizing a semisubmersible and a drillship starting in the latter half of 2026. First oil is expected by 2028, with an estimated total investment of around $10.5 billion. Additionally, the two companies have retained the option to continue exploring Block 58.

Japan Petroleum Exploration (JAPEX) plans to conduct exploratory drilling off Japan in 2026 to confirm the presence of natural gas in the offshore Hidaka area, off Hokkaido.

Mobilisation/Rig Moves

Foresight-owned 350-ft jackup Foresight Driller IX has arrived at a drilling site off the west coast of India, in preparation for its upcoming contract with ONGC.

COSL’s 4,921-ft semisub COSLProspector has left the yard in Norway and is en route to Vår Energi’s field in the Barents Sea.

Shelf Drilling 250-ft jackup High Island IX has returned to offshore operations in Saudi Arabia following a planned out-of-service period.

Seadrill's 12,000-ft drillship West Auriga has arrived at the port of Angra dos Reis, Brazil, after departing from the US GOM.

Malaysia's Velesto Energy said Thursday it had completed the mandatory 5-year Special Periodical Survey (SPS) for its 375-ft jackup rig, NAGA 6, at Labuan Shipyard, Labuan.

Petronas Carigali is relocating the 400-ft jackup PV Drilling VI this week from the Irama North-1 well site in PM304 offshore Malaysia to another location within the same block.

Other News

TGS, a seismic data acquisition and processing company, has cancelled its plans to carry out the Otway Basin 3D multi-client marine seismic survey in Australia amid environmental groups' opposition. The proposed survey was intended to take place in Commonwealth waters offshore Victoria and Tasmania, aiming to provide enhanced 3D subsurface imaging to improve the understanding of the area.

Brazilian company Prio has signed a sale and purchase agreement with SPEP Energy Hong Kong Limited and Sinochem International Oil (Hong Kong) Company Limited for the acquisition of the company Sinochem Petroleum Netherlands Coöperatief U.A., which indirectly holds a 40% stake in the Peregrino and Pitangola fields offshore Brazil.

The Norwegian Offshore Directorate (NOD) believes that innovations within hydraulic fracturing should lead to the development of more discoveries in tight reservoirs.

The Canada-Newfoundland and Labrador Offshore Petroleum Board (C-NLOPB) has issued a Call for Nominations of parcels in the Labrador South (Sector NL02-LS) and Jeanne d’Arc Regions offshore Canada.

Shell subsidiary BG International Limited has signed a Production Sharing Contract (PSC) for Block Modified U(c) with the government of Trinidad & Tobago.

Petrobras has expanded its operations into South African waters with Deep Western Orange Basin (DWOB) block stake acquisition.

Eni has announced the completion of the combination of substantially all of its upstream assets in the UK, excluding East Irish Sea assets and CCUS activities, with Ithaca Energy.

EnergyPathways has entered into a £5.1 million loan facility for its Marram Energy Storage Hub (MESH) infrastructure project, a large-scale clean energy storage facility.

Eni has secured the UK Government’s commitment and funding for the granting of an Economic License for the Liverpool Bay CO2 transport and storage (T&S) project.

Australian company Cooper Energy has announced its intention to change its name to Amplitude Energy Limited.