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Transocean has been awarded a letter of intent (LoI) for its Transocean Spitsbergen semi-submersible to drill another three wells offshore Norway. The driller’s chief operating officer, Keelan Adamson, told a first-quarter results conference, that the LoI is subject to partner approval, but, assuming it is finalised, will see the rig’s contract extended by around 150 days beyond its current estimated expiry in July next year. The potential extension with Equinor will also include a further six priced option wells for the Spitsbergen, with Adamson saying the company will provide full details once the extension is a fully binding contract. Adamson said that the Norwegian high-specification, semi-submersible market remains effectively sold out through this year and suggested that operators are starting to favour direct negotiations for their requirements rather than tenders. More broadly, CEO Jeremy Thigpen said Transocean remains “encouraged by the demand outlook and expects to see numerous long-term contracts awarded over the next several months”.
Okea has submitted to the Norwegian authorities a PDO for its Bestla development in PL740 in the North Sea just a few weeks after taking a final investment decision on the project along with its licence partners
(NSR 776/1). The ministry of energy, in a statement, confirmed that it had received the PDO application for the development of Bestla (formerly Brasse), in block 31/7, via a subsea tieback to the Okea-operated Brage platform about 13 km away in 31/4. The ministry, which pointed out that the Bestla submission is the first PDO application to have been received this year, said total investments in the new project are forecast to be around NKr6.3 billion ($569 million). The development is intended to exploit around 24 million barrels of oil equivalent, with production targeted to start in the first half of 2027. Production is expected to peak at 26,000 b/d of oil equivalent in the field’s first year of life. Bestla is set to be developed via two wells tied back to Brage where oil and gas will be processed before further transport through existing infrastructure.
Deltic Energy reckons that preparations are on track for the jack-up Valaris-123 to spud in July the Shell-operated Selene exploration well in block 48/8b in the UK Southern North Sea. UK-listed Deltic, in a 2023 earnings statement, said that mobilisation of the rig is expected to take place in late-June or early-July. Geophysical and geotechnical site surveys were completed in the second half of last year. Deltic said the Selene well has been “designed as a low-cost exploration well with very specific data collection objectives required to support future field development decisions in this mature Leman Sandstone play”. That means there will be no conventional surface flowtest and key reservoir information will be gathered from a combination of coring, logging and taking drill reservoir fluid samples collected during a planned mini-drillstem test, it added. After the Valaris-123 has finished operations in Selene, it will head on to drill the Shell-operated first appraisal well in the Pensacola gas discovery in block 41/5a which will be drilled back-to-back.
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