Baker Hughes, a GE Company Signs Agreement with Twinza to Provide Fullstream Support for Offshore Project in the Gulf of Papua
- Baker Hughes, a GE company (BHGE) to provide a groundbreaking fullstream offering to include drilling services for the appraisal and development phases of the project and an agreement to supply gas processing, compression, turbomachinery, controls subsea equipment and installation services
- The Pasca A gas-condensate field is located offshore
Papua New Guinea(PNG) and is the first offshore oil and gas development in PNG with a resource currently assessed at 93 million barrels of oil equivalent (mmboe)
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.
“Having a single point of contact and a complete offering for a complex
project was one of the key reasons why we partnered with BHGE,” said
Pasca is the first offshore oil and gas development in PNG that will produce natural gas liquids (NGLs) in the form of condensate (a light crude oil) and LPG, and will also produce natural gas. The project is expected to spur development of relevant offshore skills and services in PNG and will prove a significant boost to the PNG economy, providing government revenues, utilizing local services and providing local employment. Additionally, the LPG produced from Pasca will be available to reduce imports, and will offer a competitive alternative to imported diesel fuel for power generation.
Twinza holds 100% of the Pasca A License and has submitted a development plan for the field that will produce the resource across two phases. Phase I consists of the initial production of natural gas liquids (NGLs), including condensate and LPG, with reinjection of dry gas ahead of Phase II. During Phase II, dry gas will be exported.
About Baker Hughes, a GE company
Visit us at BHGE.com.
Caution Concerning Forward-Looking Statements:
This communication contains “forward-looking” statements as that term is
defined in Section 27A of the Securities Act of 1933, as amended, and
Section 21E of the Securities Exchange Act of 1934, as amended by the
Private Securities Litigation Reform Act of 1995, including statements
regarding the proposed arrangement between
Any forward-looking statements speak only as of the date of this communication. BHGE does not undertake any obligation to update any forward-looking statements, whether as a result of new information or development, future events or otherwise, except as required by law. Readers are cautioned not to place undue reliance on any of these forward-looking statements.
Source: Baker Hughes, a GE company