Baker Hughes signs fullstream support agreement with Twinza

Baker Hughes, a GE company (NYSE: BHGE), has signed an agreement with Twinza Oil Ltd. to provide fullstream support on the Pasca A gas condensate field, located off Papua New Guinea (PNG) in the Gulf of Papua.

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.

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.

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 NGLs, including condensate and LPG, with reinjection of dry gas ahead of Phase II. During Phase II, dry gas will be exported.

 

The China Oilfield Services Limited (COSL) Seeker jack-up rig (pictured) will perform drill operations for Twinza

 

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