Drilling & Completion News
BP calls Brazil discovery its largest in 25 years
BP announced in July an oil and gas discovery in deepwater Brazil. Exploration well 1-BP-13-SPS was drilled at the Bumerangue block, located in the Santos Basin, 404 km from Rio de Janeiro, in a water depth of 2,372 m. The well was drilled to a total depth of 5,855 m.
The well intersected the reservoir about 500 m below the crest of the structure and penetrated an estimated 500-m gross hydrocarbon column in high-quality pre-salt carbonate reservoir with an areal extent greater than 300 sq km.
Results from the rig-site analysis indicate elevated levels of carbon dioxide. BP will begin laboratory analysis to further characterize the reservoir and fluids discovered, which will provide additional insight into the block’s potential. Further appraisal activities are planned to be undertaken.
“We are excited to announce this significant discovery at Bumerangue, BP’s largest in 25 years,” Gordon Birrell, EVP, Production & Operations, said.
BP holds 100% participation in the block with Petrobras as the production-sharing contract manager.
In separate news, BP has signed a memorandum of understanding with Libya’s National Oil Corp (NOC) to evaluate redevelopment opportunities in the Sarir and Messla oilfields in Libya’s Sirte basin. This includes evaluating the exploration potential of adjacent areas and understanding the wider unconventional oil and gas potential within the country.
The agreement provides a framework for BP to assess a range of technical data and to work with NOC to determine the feasibility of future development and exploration programs.
2 Valaris drillships win contracts from Anadarko
Valaris has been awarded a 940-day contract extension for the VALARIS DS-16 drillship, starting in June 2026, and a new 914-day contract for the VALARIS DS-18 drillship, starting in mid-Q4 2026. The contracts, from Occidental subsidiary Anadarko Petroleum, are for work in the US Gulf and will add approximately $760 million to Valaris’ backlog.
Equinor greenlights addition of new subsea infrastructure in Johan Sverdrup Phase 3
Equinor and its partners are investing NOK 13 billion in the third phase of Johan Sverdrup, with new subsea infrastructure expected to increase recovery by 40 million to 50 million barrels of oil equivalent. The development includes two new subsea templates, which will be tied into existing infrastructure via new pipelines. Production is expected to start in Q4 2027.
To ensure optimal resource utilization, the project leveraged AI to analyze field layouts and well paths. This has enabled faster decision making and resulted in an estimated cost savings of NOK 130 million.
TechnipFMC has already been awarded an NOK 5.3 billion contract for engineering, procurement, construction and installation for the subsea development. Additional contracts, including platform modifications and the drilling of eight wells, are planned to be awarded later in 2025.
The expected recovery rate from Johan Sverdrup is already at 66%, and the phase 3 project is expected to help Equinor move toward its ambition of achieving a 75% recovery rate. The average for the Norwegian Continental Shelf is 47%.
Shelf Drilling jackup set to drill offshore The Netherlands
Shelf Drilling has secured a contract for the Shelf Drilling Winner jackup with Tenaz Energy for operations in the Netherlands. The firm term of the contract is one year, with an option to convert the term to three years. Operations are expected to commence in October or November 2025, shortly after completion of the rig’s current contract in Denmark.
This award represents Shelf Drilling’s first contract in the Dutch energy sector, where offshore activity is scaling up following the government’s renewed focus on strengthening domestic gas production. Tenaz Energy became the second-largest operator of natural gas assets in the Dutch North Sea earlier this year through its acquisition of Nederlandse Aardolie Maatschappij, formerly a joint venture between Shell and ExxonMobil.
