The remaining amount would be spent on […] The Sydney Morning Herald. BHP Billiton says that the Shenzi oil and gas field in the deepwater Gulf of Mexico has been approved for development. Salaries posted anonymously by BHP employees. Our network; Open Menu. This was followed by Shenzi-2 in 2003, which encountered a 381m (1,250ft) gross hydrocarbon column and 152m (500ft) of net oil pay in lower Miocene sandstones. The deal was initially signed in last month. MELBOURNE (dpa-AFX) - BHP (BHP.AX, BLT.L, BBL, BHP) and Encounter Resources has reached an option agreement covering the 4,500km2 Elliott Copper project in … The recent acquisition increased BHP’s net production from the field by approximately 11,000 barrels of oil equivalent a day. Shenzi is structured as a joint ownership: BHP (Operator, 44 per cent interest); Hess (28 per cent interest) and Repsol S.A. (28 per cent interest). BHP said that the acquisition is in line with its strategy of targeting counter-cyclical acquisitions in high-quality producing or near producing assets. Oceaneering International was contracted to supply umbilical distribution and connection equipment for the initial Shenzi field development, which comprised seven production wells. Shenzi will be BHP Billiton’s second standalone, operated deepwater facility in the GoM, following the Neptune development, which was sanctioned last year and will come onstream by the end of CY 2007. Modec International was awarded an engineering, procurement, and construction (EPC) for a tension leg platform (TLP) facility for the Shenzi field in July 2006. Hess entered into an agreement to sell its 28 per cent working interest in the Shenzi field in the deepwater Gulf of Mexico to BHP to fund a project in Guyana in early October 2020. BHP Billiton is the operator of the field, with a 44% stake, while Repsol and Hess each have 28% stakes. Structured as a joint ownership, … From January 2008 to January 2010, Sam worked as a development geoscientist on the BHP Billiton operated Shenzi Project. A free inside look at BHP salary trends based on 762 salaries wages for 430 jobs at BHP. The nominal production capacity of the field is 100,000 barrels of oil a day and 50 million cubic feet of gas a day. NEW YORK--(BUSINESS WIRE)--Hess Corporation (NYSE: HES) announced today that it has completed the previously announced sale of its 28% working interest in … The Shenzi field is located in the Green Canyon area of the US Gulf of Mexico, approximately 200km off the coast of Fourchon, Louisiana. Located in approximately 1,310m-deep waters, the offshore field spans across the Green Canyon blocks 609, 610, 653, and 654. The deal includes Genghis Khan, which is the western flank of the main Shenzi structure and has been developed independently, but has since been unitized with Shenzi into a single economic unit. Skip to sections navigation Skip to content Skip to footer. The Shenzi stake was sold for a total consideration of $505 million, subject to customary adjustments, with an effective date of 1 July 2020. The Shenzi oil and gas field, located in the US part of the Gulf of Mexico, has been in production since March 2009. Yahoo is part of Verizon Media. Shenzi is BHP Billiton’s flagship project in deepwater Gulf of Mexico. The Shenzi field was developed through a TLP located on Green Canyon block 653, and 16 production wells of which 14 wells were tied back to Shenzi platform with the remaining two connected to the Marco Polo platform. We and our partners will store and/or access information on your device through the use of cookies and similar technologies, to display personalised ads and content, for ad and content measurement, audience insights and product development. “We are purchasing the stake in Shenzi at an attractive price, it’s a tier one asset with optionality, and key to BHP’s Gulf of Mexico heartland. The gas is transported by a lateral pipeline to the existing Cleopatra pipeline. Find out more about how we use your information in our Privacy Policy and Cookie Policy. The Genghis Khan field was brought on-stream through a tieback to the Marco Polo tension leg platform (TLP) in 2007. It has a water depth of approximately 1,311m (4,300ft). Shenzi field produced 11,000boed in the first eight months of 2020. BHP Billiton, the operator of the field, is the buyer of the WI. BHP Billiton Petroleum has awarded Stress Subsea a contract for designing the water injection system for the Shenzi field development in Gulf of Mexico Green Canyon Blocks 609, 610, 653, and 654. BHP Group BHP recently announced the signing of an agreement with Hess Corporation to acquire the latter’s 28% interest in Shenzi oil and gas field located in the Gulf of Mexico for $505 million. Shenzi-1, which was drilled in 2002, encountered a gross hydrocarbon column of 142m (465ft) with a net pay of 42.5m (140ft). BHP holds a 22% stake in the Cleopatra pipeline. The deal brings BHP’s working interest in the field to 72%. The Shenzi tension leg platform (TLP) has 100,000bpd of oil processing and 50Mcfd of gas handling capacity. The Shenzi field was discovered on Green Canyon block 654 in 2002, while nearby Genghis Khan field on Green Canyon blocks 652 and 608 was discovered in 2005. It is operated by BHP which bought an additional 28% stake from Hess Corporation for approximately £384m ($505m) in November 2020 to increase its total working interest in the Shenzi filed to 72%. To enable Verizon Media and our partners to process your personal data select 'I agree', or select 'Manage settings' for more information and to manage your choices. Subscribe. BHP Group's (BHP) deal with Hess will bump up its ownership interest in Shenzi to 72% and add approximately 11,000 barrels of oil equivalent per day to production. Image courtesy of Repsol. Shenzi-3, drilled by GlobalSantaFe’s drillship CR Luigs in May 2004, encountered hydrocarbons in lower Miocene-aged reservoirs with approxima… If you continue using our website, we'll assume that you are happy to receive all cookies on this website. You can change your choices at any time by visiting Your Privacy Controls. The Shenzi deep-water oil and gas field located in the US part of the Gulf of Mexico has been in production since March 2009. US-based energy company Hess is selling its entire stake of 28% in the Shenzi field in the deepwater Gulf of Mexico to BHP Billiton for $505m. The scope of the contract included project management, design, engineering, procurement, construction, and pre-commissioning services for the TLP. The scope of the contract included the engineering, fabrication, and installation of a system of two infield flowlines and six flowlines welded to steel catenary risers, as well as connecting three drill centres to the production platform. Due to this change if you are seeing this message for the first time please make sure you reset your password using the Forgot your password Link. With a 44% stake, BHP Billiton is currently the operator of the field, located nearly 195km off the Louisiana coastline. BHP (NYSE: BHP) announced Friday that it has completed the transaction to acquire an additional 28% working interest in Shenzi from Hess Corporation for $505 million. The Sydney Morning Herald. On 13 February 2019, the BHP Board approved the development of the Atlantis Phase 3 project in the US Gulf of Mexico. The drilling of these water injection wells was completed in August 2013 and the additional oil recovery through water injection was expected to be approximately 80 million barrels. We use them to give you the best experience. BHP Group BHP recently announced the signing of an agreement with Hess Corporation to acquire the latter’s 28% interest in Shenzi oil and gas field located in the Gulf of Mexico for $505 million. The remaining 28% stake in the field continues to be held by Repsol. BHP Billiton signs off on Shenzi project. The crude oil produced in the field is transported through a 20in-diameter lateral pipeline to Ship Shoal 332 B. It is operated by BHP which bought an additional 28% stake from Hess Corporation for approximately £384m ($505m) in November 2020 to increase its total working interest in the Shenzi filed to 72%. The scope of the contract included three suction-pile-supported umbilical distribution system structures, 40 steel tube flying lead assemblies, junction plates, and assorted test equipment. Shenzi, a six-lease development, produced an average of 11,000 net boe/d (90% oil) in the first 8 months of 2020. Three more production wells were drilled between 2014 and 2015, while another water injection well was completed in the second quarter of 2016 to improve production in the southern part of the field. BHP bought an additional 28% stake in the field from Hess in November 2020. BHP (NYSE: BHP) reported Tuesday that it will acquire an additional 28-percent working interest in the Shenzi field in the deepwater Gulf of Mexico (GOM) from Hess Corp. (NYSE: HES). In January-August period of 2020, the Shenzi field produced an average of 11,000 net barrels of oil equivalent per day. As many as 20 production and water injection wells can be tied back to the TLP which is permanently moored in a water depth of approximately 1,310m. Around a half of the amount, $1.4 billion, will be spent on “high-return” infill drilling opportunities in the U.S. Gulf of Mexico and life extension projects at Bass Strait and North West Shelf in Australia. Get the latest energy news delivered to your inbox. Shenzi is a mature subsalt, Miocene field operated by BHP that has been producing since March 2009. Image courtesy of Repsol. Both the Shenzi and the Genghis Khan fields are part of the same geological structure. Subsea Lead - Shenzi Brownfield Projects BHP Houston, TX, US 6 months ago 104 applicants No longer accepting applications . We have recently upgraded our technology platform. 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