Baker Hughes has been awarded a contract by Saudi Aramco to provide integrated services for the Marjan oilfield.
The contractor will provide drilling and fluids engineering services for the oilfield.
Based in Saudi Arabia, Saudi Aramco is a petroleum and natural gas company, while Baker Hughes is a US-based subsidiary of GE and a provider of integrated oilfield products, services, and other solutions globally.
The licences are part of the Greater Warwick Area (GWA) located in the North Sea.
Development of the GWA will involve the drilling of three horizontal wells and front-end engineering and design studies for the full field development, which is aimed for sanction in 2021.
Spirit Energy will fund the drilling of the three wells and pay 75% of approximately $140.7m gross cost of a possible tie-back of the wells.
Hurricane will remain the field operator until the start of production, with operatorship will be transferred to Spirit Energy.
Based in the UK, Hurricane Energy is an oil and gas company, while Spirit Energy is an independent exploration and production company based in Norway.
The transaction will allow Hurricane Energy to expand its GWA resource base to achieve capital growth.
The contract will use Cognite’s data platform, which provides live data from the Ivar Aasen platform. Framo will use data for monitoring the equipment and forecast the performance of the pumps in the future, reducing the need for unnecessary maintenance activities.
Aker BP is an oil exploration and development firm, while Framo AS is engaged in the designing, manufacture, and supply of submerged pumping systems for the offshore industry and Cognite AS is a creator of data platform.
All companies involved in the transaction are based in Norway.