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It’s forming a joint venture with a hyperscaler and a power producer to build a large gas-fired plant in the Permian Basin, using its own gas. CEO Travis Stice explained the motivation simply: “We’re figuring out how to turn that gas into more value for shareholders.”
Each of the new contracts has a three-year term under which Wood will support TotalEnergies to advance the AssociatedGas Upstream Project (AGUP) , a key part of the GGIP project. The contracts will be delivered by Wood's teams in Basra and the United Arab Emirates, creating additional roles as the scopes progress.
The aim is to debottleneck and upgrade existing facilities to increase energy production capacity to 120,000 barrels of oil per day on completion of the first phase. Wood is already providing engineering design, detailed design, procurement support, and construction and commissioning assistance for the first phase of the AGUP.
The pipeline expansion will be completed in 2025 , ensuring ample capacity for long-term growth. This move supports the companys growing gas gathering and processing footprint. Total Permian gas processing volumes are projected to reach ~1.6 Scheduled for completion in early 2028 , with expansion potential beyond 400,000 bpd.
Warning This article and series is specifically targeted for anyone involved or interested in oil and gas reserves reporting guidelines, methods, issues, calculations and pitfalls. Thus, the requirements are like the downdip limit in order to estimate that the updip volume also contains oil, rather than an associatedgas cap. (Reg
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