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April 14, 2020updated 25 Nov 2021 5:44am

Genesis Energy secures downstream transport services deal

Genesis energy has signed agreements with Fieldwood Energy, Ridgewood Katmai and ILX Prospect Katmai to provide downstream transportation services for all crude oil production from the Katmai field development.

By Himaja Ganta

Genesis Energy has signed agreements with Fieldwood Energy, Ridgewood Katmai and ILX Prospect Katmai to provide downstream transportation services for all crude oil production from the Katmai field development.

Ridgewood Katmai and ILX Prospect Katmai are two entities managed by Ridgewood Energy.

The Katmai field development is located in the US Gulf of Mexico’s Green Canyon, in blocks 39 and 40.

Genesis said it will provide the services through the existing Tarantula production platform, owned by Fieldwood.

Located in South Timbalier block 308, the Tarantula platform is capable of processing over 25,000 barrels per day (bpd) of oil from the Katmai field development.

Crude will be shipped from the Tarantula platform, through Genesis’ fully-owned Tarantula lateral, to its 64%-owned Poseidon system for delivery to shore.

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Genesis noted that first deliveries of oil are expected in the second quarter this year.

Genesis energy CEO Grant E. Sims said: “The dedication of the Katmai production is an exciting opportunity for us, and we look forward to working with Fieldwood, and the other interest owners, as they develop the Katmai fields.

“This project, which follows our December announcement of the dedication by Murphy Exploration & Production Company USA of its crude oil and gas production from its Khaleesi / Mormont and Samurai field developments, is yet another example that illustrates the strategic positioning of our offshore footprint and how our available capacity and multi-market delivery options will allow us to provide Fieldwood and other producers in the Gulf of Mexico with attractive transportation alternatives for many years ahead.”

In October 2018, Subsea Integration Alliance (SIA), a global partnership between OneSubsea and Subsea 7, secured a subsea production systems contract for the Katmai field development.

In July 2015, Genesis Energy signed an agreement to acquire the offshore Gulf of Mexico pipelines and services business of Enterprise Products Partners for around $1.5bn.

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