Gulf of Mexico :: EMAS AMC Bags $300 Mln Subsea Gig from Noble Energy

Ezra Holdings Limited’s Subsea Services division, EMAS AMC, has finalised three contracts with Noble Energy valued collectively at over US$300 million.

The scope of work includes engineering, procurement, construction and installation of subsea tie-backs for the Big Bend, Dantzler and Gunflint field developments in the US Gulf of Mexico.

The project management, engineering and procurement are already well underway from EMAS AMC’s Houston office with fabrication of the 16 subsea structures, and stalking and spooling of over 160 miles (258 km) of line pipe, in progress at the recently upgraded EMAS Marine Spool Base facility in Ingleside, Texas.

Offshore execution is scheduled for 2015, utilizing five EMAS AMC offshore construction vessels including the new build, ultra-high tension, deepwater reel lay and heavy lift vessel, the Lewek Constellation.

“Following the successful completion of the Tamar project, I am particularly grateful for the continued trust and confidence that the Noble Energy team has shown in our people and our capabilities. It is a testament of our ability in delivering operational excellence and results,” said Mr Lionel Lee, Ezra’s Group CEO and Managing Director.

“With our flagship vessel Lewek Constellation, we are helming the future of the subsea industry, and with her in operation, we will continue to drive our growth as a premier global subsea tie-back contractor.”

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Gulf of Mexico: Noble Energy Hires EMAS for Gunflint Project

EMAS, the operating brand of Ezra Holdings received a Letter of Agreement (LOA) from Noble Energy for the Gunflint Project in the Gulf of Mexico (GoM).

Under the terms of the agreement EMAS’s Subsea Services division, EMAS AMC has been nominated to perform the offshore installation of pipelines, umbilicals and ancillary equipment for the Gunflint Project in the Mississippi Canyon area of the US GoM in water depths in excess of 2,000 metres. The pipelines will be installed with EMAS AMC’s flagship vessel the Lewek Constellation while the EMAS Marine Base in Ingleside, Texas will be used to perform the pipe stalking and fabrication of various subsea structures.

Project preparation activities have already started and offshore works are scheduled to be carried out during 2015.

“I would like to express my sincerest appreciation to Noble Energy for their vote of confidence by awarding this important project to us,” said Mr Lionel Lee, EMAS’s Group CEO and Managing Director. “The Gunflint project is another significant milestone for us as it is a testament to the growth and current capabilities of EMAS AMC. It affirms that our combined engineering and asset capabilities, including our flagship construction vessel Lewek Constellation, are being endorsed by the industry to execute challenging subsea projects anywhere in the world. It is also the second major contract awarded to us by Noble Energy, following our successful work for the Noble Tamar Project and I look forward to working with Noble again and deliver a mutually successful outcome on Gunflint.”

The Group has secured more than US$300 million subsea contracts since the beginning of 2014, with the subsea backlog standing at more than US$1.4 billion to date.

Press Release, April 11, 2014

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Noble Energy Hits Net Pay at Gunflint Well in U.S. Gulf of Mexico

Noble Energy, Inc. today announced that the second appraisal well at Gunflint well in the Gulf of Mexico, successfully encountered 109 feet of net pay within the primary reservoir targets.

Results of drilling, wireline logs and reservoir data have confirmed an estimated gross resource range(1) of 65 to 90 million barrels of oil equivalent in the primary structure, which was in line with Company expectations. The Mississippi Canyon 992 #1 well, located one mile west of the original discovery well, was drilled to a total depth of approximately 32,800 feet in a water depth of 6,100 feet. Commercial hydrocarbons were not encountered in the deeper exploration objective. Additional exploration potential remains in an adjacent three-way structure to the north, a candidate for future exploration following development of the confirmed resources.

Once operations are completed, the well will be suspended for future use. The net cost of drilling the lower exploration zone was approximately $15 million, which will be expensed in the second quarter of 2013.

Susan Cunningham, Noble Energy’s Senior Vice President Deepwater Gulf of Mexico, West Africa and Frontier Regions, commented, “Our appraisal program at Gunflint solidifies our plans for a subsea tieback development, with sanction planned for later this year. Along with our Big Bend discovery, we now have two major projects in the deepwater Gulf of Mexico targeting first production at the end of 2015. These developments represent significant value to our overall portfolio.”

Noble Energy plans to move the drilling rig to Troubadour, a low-risk amplitude prospect offsetting the Big Bend discovery, over the next several weeks. The well is expected to reach total depth late in the third quarter.

Noble Energy operates Gunflint with a 31.14 percent working interest. Other partners in the project are Ecopetrol America Inc. with 31.50 percent, Marathon Oil Company with 18.23 percent and Samson Offshore, LLC with 19.13 percent.

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