Oil & Gas

Equinor’s Oil Discovery at Monument Prospect in the US Gulf of Mexico

Norwegian oil firm Equinor and co-venturers Progress Resources USA Ltd and Repsol E&P USA Inc. have encountered oil in the Monument exploration well in the US Gulf of Mexico.

The Monument exploration well found approximately 200 feet (c. 60 metres) of net oil pay with good reservoir characteristics in Paleogene sandstone.

This provides an early indication of the productive reservoir interval at the well location. The well was drilled to a total depth of 33,348 feet (10,164 metres) using the Pacific Khamsin rig.

“We are pleased to have proved an accumulation of movable hydrocarbons in the Monument exploration well. However, determining the full potential of the discovery will require further appraisal drilling,” said Bjørn Inge Braathen, senior vice president of Exploration in North America.

Petronas Executive Vice President & Chief Executive Officer of Upstream, Adif Zulkifli, said: “This is the company’s first entry and discovery into oil and gas operations in the US Gulf of Mexico. We will continue to explore opportunities in the Americas region and strengthen the sustainability of our global portfolio.”

The Monument exploration well is located in the central US Gulf of Mexico. It is operated by Equinor (50%) with partners Petronas’ subsidiary Progress Resources USA Ltd (30%) and Repsol E&P USA Inc. (20%).

Monument is Equinor’s first operated exploration well in the US Gulf of Mexico since 2015.

Equinor has been present in the US Gulf of Mexico since 2004 with exploration prospects and interests in eight producing fields in the US Gulf of Mexico and two in development.

In addition to its offshore portfolio in the US Gulf of Mexico, Equinor has extensive US onshore operations in the Eagle Ford (Texas), the Bakken (North Dakota) and the Appalachian basin (Ohio and Pennsylvania).

The company has approximately 1,000 employees in the US with main offices in Houston (TX), Austin (TX) and Stamford (CT).

 

Pacific Khamsin rig

The ‘Pacific Khamsin’ is an upgraded Dual Load Path Samsung 12,000 design dynamically-positioned Dual Gradient capable drillship, able to operate in moderate environments and water depths up to 3,657 m (12,000 ft) using 18¾” BOP and 21” OD marine drilling riser, adapted for single and dual gradient drilling.

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