Equinor awards Peregrino well management deal to Schlumberger
- Business & Finance
Oil services company Schlumberger has won a contract from Equinor for total well delivery on the Peregrino C platform in the Campos basin offshore Brazil.
Schlumberger said in its full-year 2018 results announced on Friday that the deal with Equinor would see the company provide a full scope of well construction services, drilling management services, and advanced digital technology solutions, including the well construction planning solution for 22 wells.
Equinor and South Atlantic Holding B.V. also amended the Cameron EPC contract for the delivery of a Cameron drilling module for Peregrino C.
The drilling module will be installed on the C platform to support drilling of production and injection wells in reservoirs that are inaccessible from the current platforms A and B.
According to Schlumberger, work under the contract will provide efficiency improvements to the drilling module, streamlined consecutive workflows, and optimized human resources at the wellsite.
Even though the company did not state the value of the deal, Reuters broke the news regarding the contract on Thursday and stated that the deal was worth around $200 million.
Equinor is currently looking forward to 2020 when Phase II of the Peregrino project is set to go online. Phase II field development will add a third wellhead platform which contains an eight-legged jacket and a wellhead platform with a drilling unit tied-back to the existing FPSO.
According to the Norwegian oil giant, Peregrino Phase II is set to produce oil for 20 years.
As for Equinor’s presence in Brazil, it has been growing since 2001 and the company revealed plans in August 2018 to invest $15 billion in the country by 2030, on top of the already invested $10 billion.
Aside from Peregrino, the company’s assets in Brazil include a share in the giant Roncador field, the significant pre-salt discoveries of Carcará and Pão de Açúcar, as well as exploration acreage.
It is worth reminding that Equinor bought the stake in Roncador just last year, paying $2 billion to Petrobras for a 25% percent non-operated stake in the field.
An Equinor spokesperson told Offshore Energy Today that the company had no further comment apart from what was said in Schlumberger’s full-year results.