PNG: BAKER HUGHES SIGNS AGREEMENT WITH TWINZA OIL
Baker Hughes, a GE company announced one of the first agreements of its kind with Twinza Oil Limited to provide fullstream support on the Pasca A gas condensate field, which is located off Papua New Guinea in the Gulf of Papua.
The Twinza-BHGE fullstream agreement – an industry first – covers services and equipment during Phase I of the Pasca A field Development, including drilling services, wellheads and pressure control equipment for the fourth and final appraisal well. The appraisal well will be drilled in 3Q 2017, which will be suspended as a future development well, and the final investment decision (FID) to proceed to development is expected in 2018. Post FID, BHGE expects to provide an integrated gas processing solution from the wells through to point of export. The fullstream offering includes a wide range of capabilities in drilling services, subsea equipment, gas processing topsides, gas compression and turbomachinery as well as installation and commissioning services. As part of the fullstream package, BHGE was also able to bring its expertise to offer a financial solution to enable Twinza to complete appraisal drilling and proceed to FID.
The deal leverages the fullstream capabilities of the newly combined BHGE that provides customers with a “wing to wing” partner in complex projects – from reservoir evaluation to production and end use. The enhanced portfolio positions BHGE to create new sources of value by improving productivity and economics through integrated equipment and service offerings and meet customer needs through a fullstream lens.
The Pasca A gas condensate field is a carbonate pinnacle reef that was discovered some 47 years ago but has lain dormant for nearly three decades on the basis of a lack of a commercially viable development solution. (Source: Baker Hughes)