The SPE Board of Directors meeting was recently held in Cairo. My intent is to share important information with our members after each meeting. As SPE, and the industry, emerge from the downturn, one of the Board’s most important topics of discussion was financial. I am pleased to report that SPE is once again looking healthy financially. The New SPE International App allows you access to SPE anytime, anywhere.
What Does the New Silk Road Mean For Oil and Gas? Executives from two of Asia’s largest national oil companies declared China’s Belt and Road Initiative project a driving force behind their shifting priorities to diversify the world’s energy mix. Total’s Laggan Tormore project claimed the International Petroleum Technology Conference (IPTC) Excellence in Project Integration Award at the 10th IPTC in Bangkok, Thailand. A sharp decline in oil prices is pushing oil and gas companies to innovate to increase efficiency and prepare to meet the world’s long-term energy needs, panelists said at the International Petroleum Technology Conference (IPTC) held in Kuala Lumpur, Malaysia, in December.
Achieving zero harm has been the talk of the industrial sector to reduce harm to as low as possible. The management of health, safety, security and environment (HSSE) should not be stagnant. It is time to rethink and reassess how the industry can prepare, mitigate and respond to stay ahead of emerging technical, regulatory and societal challenges. This session will engage leaders to discuss opportunities and challenges, share experiences and lessons learnt, and on how technology and digitalisation may affect the quality and productivity of the work sites - all of which are critical in shaping the future of HSSE in the region. The current presentation date and time shown is a TENTATIVE schedule.
The next big wave of decommissioning and abandonment projects is set to occur in the Asia-Pacific region, and APAC’s operators are now tasked with finding cost- and time-effective ways of unwinding their huge agglomeration of wells and facilities. Are Deepwater Projects Due for a Revival? The oil price downturn spawned a lull in deepwater enthusiasm, but better project execution and reduced project lead times have helped operators achieve lower costs and better returns. What does the landscape for deep water look like in the near term? Will operators get more involved?
The field marks the first development in Malaysia for the Abu Dhabi-based operator, with first gas expected in 2021. Petronas cancels plans for the development of the Pacific Northwest LNG project in British Columbia intended to take away natural gas from the Montney formation for shipping to Asian countries. Low LNG prices strike a blow to the feasibility of the project.
Africa (Sub-Sahara) Bowleven has started drilling operations at the Moambe exploration well on the Bomono permit in Cameroon. Moambe is the second well in a two-well program, approximately 2 km east of the first well, Zingana. It targets a previously undrilled Paleocene Tertiary three-way dip fault block containing multiple sands and will be drilled to an estimated 1620 m in measured depth. Both wells will be logged. Bowleven is the operator and holds 100% interest. Asia Pacific Murphy Oil discovered gas at its Permai exploration well in deepwater Block H in the South China Sea offshore Malaysia.
Africa (Sub-Sahara) Shell has initiated a two-well drilling program in blocks 1 and 4 of the Mafia Deep basin offshore Tanzania. Drilling is taking place in water depths of up to 7,545 ft, with the company and its joint-venture partners Pavilion Energy and Ophir Energy investing almost USD 80 million in the program. The two wells will meet the remaining requirements in the exploration licenses issued by the Tanzanian Ministry of Energy and Minerals. Asia Pacific Petronas has begun gas production from the world's first floating liquefied natural gas (FLNG) facility, the PFLNG SATU, at the Kanowit field offshore Malaysia's Sarawak state. The first-gas milestone marked the onset of commissioning and startup for the FLNG facility, preceding commercial production and initial cargo shipment. The facility is fitted with an external turret for operating in water depths of 229 ft to 656 ft. It will extract gas through a flexible subsea pipeline for the liquefaction, production, storage, and offloading of LNG at the field.
The SPE Symposium: Asia Pacific Health, Safety, Security, Environment and Social Responsibility is scheduled to take place from 23 - 24 Apr 2019 at the DoubleTree by Hilton, Kuala Lumpur, Malaysia. Exhibiting at the SPE Symposium: Asia Pacific Health, Safety, Security, Environment and Social Responsibility will provide your organisation with the opportunity to promote your products and services to key industry players.