TechnipFMC Awarded Significant iEPCI™ Contract by Woodside Energy for Xena Phase 3 Development

TechnipFMC (NYSE: FTI) has been awarded a significant integrated Engineering, Procurement, Construction, and Installation (iEPCI™) contract by Woodside Energy (LON: WDS) in Australia.

TechnipFMC will design, manufacture, and install the subsea production system, flexible pipe, and umbilicals for the Xena Infill well (XNA03) to support ongoing production from the Pluto LNG Project. The award follows an integrated front end engineering design (iFEED™) study.

The project will use the Company’s Subsea 2.0 production system. Xena Phase 3 will be tied back to existing subsea infrastructure previously supplied by TechnipFMC.

Jonathan Landes, President, Subsea at TechnipFMC, commented: “We are proud to be delivering a fully integrated project from concept to execution. This project will help our long-term client meet their objectives, demonstrating the favorable impact iFEED™, iEPCI™, and Subsea 2.0® can have on project economics.”
The contract is the latest call-off on the framework agreement between Woodside Energy and TechnipFMC.

Easton Energy Enters Agreement to Sell its Gulf Coast Liquids Pipeline System

Easton Energy (Easton), a Houston-based midstream company, announced today that it has entered into an agreement to sell its Gulf Coast Liquids Pipeline System to ONEOK, Inc. (NYSE: OKE) for approximately $280 million, subject to customary price adjustments. Easton will retain, and continue operating, its natural gas liquids (NGL) and olefins storage business located in Markham, Texas.

The system included in the transaction is comprised of approximately 450 miles of NGL and hydrocarbon pipelines located throughout the Texas and Louisiana Gulf Coast midstream corridors for NGL and olefin service.

“These pipelines are a critical piece of the U.S. Gulf Coast NGL and hydrocarbon value chain,” said G.R. “Jerry” Cardillo, Easton’s Chief Executive Officer. “This transaction recognizes value for our customers, shareholders, and our business partners. We will now pivot our focus to our remaining business, our NGL and olefins storage business.”

Easton is a portfolio company of Cresta Fund Management (Cresta), a Dallas-based private equity fund that manages over $1.6 billion of capital.

“This transaction confirms the potential Cresta saw in these pipelines when we acquired them in 2018,” said Chris Rozzell, Cresta’s Managing Partner. “We are enthusiastic about Easton’s sharpened focus on its storage business and are excited about its ability to provide services to a variety of different NGL customers.”

Easton’s salt dome storage infrastructure is located between key NGL and petrochemical markets in Mont Belvieu and Corpus Christi, Texas. This infrastructure includes brine handling facilities and multiple salt dome wells with approximately 40 million barrels of NGL and olefins storage capacity.

Easton expects to close the transaction mid-year 2024. Closing is subject to customary conditions including termination or expiration of the waiting periods under the Hart-Scott-Rodino Antitrust Improvements Act.

Gray Oak Pipeline LLC Announces Binding Open Season

May 9, 2024

Gray Oak Pipeline, LLC, a joint venture among the pipeline system's owners, announced today a binding open season to solicit shipper interest for an expansion of the Gray Oak Pipeline of up to 120,000 barrels per day. The Gray Oak Pipeline is an 850-mile pipeline system extending from West Texas to destination points including Corpus Christi, Ingleside, and Sweeny/Freeport.

The open season will begin May 9 at 9 a.m. CST and end June 28 at 5 p.m. CST.

Shell to sell interest in Singapore Energy and Chemicals Park to CAPGC

Shell Singapore Pte Ltd, a subsidiary of Shell plc, has reached an agreement to sell its Energy and Chemicals Park in Singapore to CAPGC Pte. Ltd., a joint venture company between Chandra Asri Capital Pte. Ltd. and Glencore Asian Holdings Pte. Ltd. The transaction will transfer all of Shell’s interest in Shell Energy and Chemicals Park Singapore to CAPGC.


“This agreement marks a significant step in Shell’s ongoing efforts to high-grade our Chemicals and Products business, and is a testament to our commitment to deliver more value with less emissions, as outlined at our Capital Markets Day last year.” said Huibert Vigeveno, Shell’s Downstream, Renewable and Energy Solutions Director. “We are proud of our history at Bukom and Jurong Island and our contributions to the economic growth of Singapore in this sector in the past decades. Our commitment to Singapore remains steadfast and its importance as a regional hub for our marketing and trading business remains important. As Singapore continues to decarbonise, Shell looks forward to a continued partnership with the country, and with our customers in the region.”


Shell ran a competitive bid process to reach this milestone. Staff in Shell Energy and Chemicals Park Singapore will continue their employment with CAPGC under the new ownership, providing continuity for staff and contributing to ongoing operational reliability and safety.

Notes to editors

• The Shell Energy and Chemicals Park Singapore comprises its integrated refining and chemicals assets on Pulau Bukom and Jurong Island.
• The Pulau Bukom assets include a 237,000 barrels-per-day refinery and a 1.1 million tonnes-a-year ethylene cracker. It was Singapore’s first refinery in 1961.
• Shell Jurong Island occupies more than 60 hectares on Jurong Island, and manufactures petrochemicals including ethylene oxide, ethoxylates, styrene monomer and propylene oxide. It is Shell’s largest petrochemical production and export center in the Asia Pacific region.
• Shell is selling 100% of its interests in its Energy and Chemicals Park in Singapore, including the physical assets and commercial contracts.
• As announced on its Capital Markets Day in June 2023, Shell had initiated a strategic review of its Energy and Chemicals Park assets on Bukom and Jurong Island in Singapore. This review is in response to the ongoing high-grading of Shell Group’s Chemicals and Products portfolio, changing market conditions and enhanced capital discipline. Following the strategic review, divestment has been the priority focus.
• Following completion, all employees providing dedicated support to the Shell Energy and Chemicals Park Singapore will retain their employment with CAPGC.
• Shell and CAPGC have also signed crude supply and products offtake agreements that will come into effect following completion.
• Singapore’s position as a trading and marketing hub to serve Shell’s customers in the region remains important.
• Shell continues to support Singapore’s energy needs through Liquefied Natural Gas supply and trading. Shell is also investing in electric vehicle charging infrastructure in the country.
• In March 2024, the Singapore government announced their partnership with a consortium formed by Shell and ExxonMobil to study the feasibility of a cross-border carbon capture and storage project.
• CAPGC Pte. Ltd. (“CAPGC”) is a joint venture that is majority-owned and operated by Chandra Asri Group and minority-owned by Glencore through their respective subsidiary companies. Chandra Asri is Indonesia’s leading chemical and infrastructure solutions company, supplying products and services to various manufacturing industries in both domestic and international markets. Glencore is one of the world’s largest global diversified natural resource companies and a major producer and marketer of more than 60 commodities that advance everyday life.

First Oil Production on Eldfisk North Ahead of Plan

The licensees of the Eldfisk Field, operated by ConocoPhillips Skandinavia AS, announce successful first oil production on the Eldfisk North Project, located in the Greater Ekofisk Area in the North Sea. Oil and gas resources from the new project development are being produced some weeks ahead of plan.

The Eldfisk North Project is located in PL018, and the licensees are TotalEnergies EP Norge AS (39.896%), ConocoPhillips Skandinavia AS (35.112%), Vår Energi ASA (12.388%), Sval Energi AS (7.604%) and Petoro AS (5.000%).

In December 2022, the Norwegian authorities approved the Eldfisk North Plan for Development and Operation (PDO) with original production start scheduled in the second quarter of 2024. Cooperation and efficiency across companies have unlocked earlier first oil production.

“Sound and productive collaboration among our employees and the many contractors and business partners has contributed to strong safety results with zero personnel injuries, delivering yet another successful project ahead of schedule,” said Steinar Våge, ConocoPhillips’ President for Europe, Middle East and North Africa.

The Eldfisk North Project comprises three 6-well subsea templates located approximately seven kilometers from the Eldfisk Complex. The PDO included drilling of up to 14 wells, whereof nine are producers and the other five will inject water into the reservoir. The Eldfisk North Project will use available capacity at Eldfisk 2/7 S for processing and transportation, utilizing existing infrastructure in the Greater Ekofisk Area.

The total resource potential is in the range of 50-90 million barrels of oil equivalent while total capital expenditure is estimated at almost NOK 13 billion (USD 1.24 billion), capturing cost developments for extended drilling duration, inflation, and currency exchange rates. The project has created approximately 4,000-4,500 jobs, and more than 80% of the total contract value has been awarded to Norwegian businesses.

About Eldfisk

The Eldfisk Field was discovered in 1970 and original plan for development and operation was approved in 1975. A new plan for development and operation was approved for the Eldfisk II Redevelopment Project in 2011. The Eldfisk reservoir consists of fractured chalk containing mainly oil, similar to surrounding fields in the Greater Ekofisk Area.

Seatrium Secures FPSO Topsides Integration Contract with MODEC

Seatrium Limited (Seatrium or the Group) is pleased to announce that it has secured a Floating Production Storage and Offloading (FPSO) topsides integration contract from longstanding customer, Offshore Frontier Solutions Pte. Ltd., a MODEC Group company. 

The contract scope of work covers the installation and integration of topside modules onboard the FPSO Errea Wittu, and includes completion and commissioning support for MODEC. 

Mr Marlin Khiew, Executive Vice President, Oil & Gas (Americas) of Seatrium, said, "We are pleased to be working with our longstanding customer, MODEC, on yet another FPSO topsides integration project, solidifying our position as the industry leader in FPSO conversions. Through our strong partnership and unwavering dedication, including decades of collaboration with MODEC, we continue to deliver cutting-edge offshore solutions that redefine excellence. Leveraging our deep engineering expertise, international yard footprint, and strong track record, Seatrium provides innovative, reliable, quality, and value-added offshore and marine solutions for our esteemed customers." 

The FPSO Errea Wittu will be deployed in the Uaru Field, Stabroek Block, approximately 200 kilometers offshore Guyana. The FPSO Errea Wittu is expected to have a production capacity of 250,000 barrels of oil per day (bopd), water injection capacity of 350,000 barrels of water per day (bwpd), 540 million cubic feet per day (mmscfd) of gas production and a storage capacity of two million barrels of oil. 

Over the years, Seatrium has built a strong track record in the FPSO space, including delivering a significant number of FPSO projects for MODEC since its first FPSO conversion Whakaaropai in 1996. The Group is currently undertaking integration work for FPSO Bacalhau, which will be operating in the Bacalhau field, Santos Basin, offshore Brazil. Separately, BrasFELS, Seatrium’s yard in Angra dos Reis, Brazil, is also currently executing topside modules fabrication for FPSO Raia.

ADNOC Announces First Production from Belbazem Offshore Block

ADNOC announced today the start of crude oil production from its Belbazem offshore block, underscoring the company’s commitment to responsibly meet the world’s growing demand for energy.
The Belbazem offshore block is operated by Al Yasat Petroleum, a joint venture between ADNOC and China National Petroleum Corporation (CNPC). ADNOC’s innovative approach in developing the block includes leveraging operational synergies with adjacent fields, artificial intelligence (AI) and digitalization to enhance efficiency and safety while reducing emissions and cost.

Abdulmunim Saif Al Kindy, ADNOC Upstream Executive Director, said: “The start of crude oil production from the Belbazem offshore block is testament to the success of our strategic partnership with CNPC and the robust bilateral energy relationship between the UAE and China. ADNOC continues to maximize value from Abu Dhabi’s resources, while reducing our carbon footprint to ensure a secure, reliable, and responsible supply of energy to customers locally and internationally.”

Production capacity at the Belbazem offshore block is set to progressively ramp up to 45,000 barrels per day (bpd) of light crude and 27 million standard cubic feet per day (mmscfd) of associated gas, contributing to ADNOC’s target of reaching 5 million bpd by 2027 and enabling UAE gas self-sufficiency for the UAE.

Al Yasat is pioneering the implementation of AI modelling and analysis tools across its offshore concession area. The Belbazem block uses WellInsight, an AI tool developed by AIQ, to analyze reservoir data and manage operations for enhanced safety and performance. The block will also integrate advanced technologies already deployed at Al Yasat’s Bu Haseer offshore field, to optimize production and reservoir management.

The Belbazem block is leveraging operational synergies by utilizing the facilities of Satah Al Razboot (SARB), an offshore field operated by ADNOC Offshore, resulting in cost savings and reduced environmental impact. Located 120 kilometers northwest of Abu Dhabi city, the Belbazem Block consists of three offshore fields; Belbazem, Umm Al Salsal and Umm Al Dholou.