* One of West Africa’s biggest oil finds, the Jubilee field, is expected to start production sometime this year. (1.2 billion barrels of oil)
– Jubilee will be developed in several phases due to the large amounts of oil discovered. Phase 1 will tie back 17 subsea fields – nine oil producers, five water injection wells and three gas injection wells – to the Kwame Nkrumah MV21 FPSO. The FPSO will be moored in 3,609 ft of water and will be capable of processing more than 120,000 b/d and 160 MMcf/d. Phase 1 development will produce in about 300 MMbbl.
* The Ebok oil field on Block OML 67 offshore Nigeria is expected to come onstream in early 2010.
– The approved development plan calls for installing an early production system on Ebok to produce 15,000 to 25,000 b/d from at least five horizontal production wells and one water injection well tied back to an FPSO. Once online, a second development phase to drill eight more wells would commence. The second phase is expected to increase the field’s production to 50,000 b/d by the end of 2010.
* In the Norwegian North Sea, the Gjoa field is expected to come online in Q3 2010. (estimated reserves of 82 MMbbl and 1.4 Tcf)
* The Babbage gas field, on Block 48/2 in the Southern North Sea, is expected to come online in Q2 2010 (390 Bcf of gas-in-place)
* The Mirage field is in Mississippi Canyon Block 941 in 3,800 ft of water and the Morgus field is in Mississippi Canyon Block 942 in 4,304 ft of water. Combined, the fields hold about 190 Bcf.
Gulf of Mexico
* The Cascade and Chinook fields are due onstream in Q1 2010. ( maximum production rate of 80,000 bop/d and 460,000 MMcf/d.)
* The Perdido Hub will begin producing in early 2010, and all wells are expected to come online by 2016. The SPAR is designed to produce 100,000 b/d and 200 MMcf/d.
* Pluto is a fast developing LNG project off Western Australia.
* Van Gogh is expected to produce about 20,000 b/d.
* the Pyrenees Project, which is expected to come online the first half of 2010
Saudi Aramco Oil Projects
Khalid Al-Falih, CEO of Saudi Aramco said that the Manifa and Khurais projects were vital to addressing the long-term call on oil, and that Aramco was aggressively ramping up exploration, improving recovery and building its reserves every year.
* Manifa project, at 900 000 barrels per day capacity (deferred completion by two years when oil price dropped)
At an estimated cost of US$9 billion, the Manifa oilfield has a new 2015 production date. The scope of the field includes 900,000 bpd of oil, 120 million scfd sour gas, 50,000 bpd condensate and 950,000 bpd of produced water.
* Zuluf is one of the country’s largest oilfields and is located near the Safaniyah and Marjan oilfields.
Saudi Aramco plans to spend $60 billion on the oil sector, while the remaining investement would be for the development of petrochemcial projects and foreign investments, said Khalid al-Falih.
Saudi is the only oil producer in the world with significant spare capacity that can be quickly deployed. The kingdom’s oil output capacity stood at 12.5 million barrels per day (bpd) Falih said.
The Gulf Arab state pumped 8.18 million bpd in January
* Khurais – 1.2 million barrels per day capacity