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As the industry moves toward recovery and stability, OTC will attract global industry professionals, government officials, academic experts, and many other organizational representatives to discuss technology and broader industry issues and assess the future. FEI is a maker of high-powered microscopes whose growth plan in exploration and production includes building a service company. Saudi Aramco’s plan to create a global network of research centers is becoming a reality. It recently celebrated the opening of its Houston center that the company’s President and Chief Executive Officer Khalid Al-Falih described as “an upstream research center like no other.”
The joint oil field had been offline since 2015, due to an operational dispute. SPE awards recognize members who have contributed exceptional service and leadership to the society and the community, as well as those who made major professional contributions to their technical disciplines. The court said it was mindful of the disruption the shutdown will cause but said the seriousness of deficiencies from the US Army Corps of Engineers outweighs the negative effects of shutting down the pipeline. A lot about the blowout preventers used for offshore drilling has changed since Macondo in 2010 but essentials are unchanged. It serves as a case study on why some oilfield technology is hard to change.
Saudi Aramco studied such algorithms to produce images simulating the flow inside a pipe’s cross section, possibly reducing the need for separator-based multiphase flowmeters. A former technical manager with Petrobras discusses the development of the company’s flow assurance philosophies and strategies. Looped lines are used to reduce pressure drop and increase flow capacity, but information on the flow behavior or predictive methods are not available for these systems. Bypass pigging has advantages over conventional approaches. Its application to multi-phase flow with high wax content crude is discussed.
From its record high in 2014, purchases of subsea equipment and SURF fell around 50% until reaching a low in 2018. New data suggest that the subsea market will be a top-performing oilfield service segment. The shale revolution is leading the US into a unique position: a bigger exporter of crude and petroleum liquids than the Kingdom of Saudi Arabia. Subsea Production Systems—Will 2019 Be a Tipping Point? The past year ended with a surge of subsea tree awards as E&P operators locked in lower supply-chain cost.
Texas facilities get green light to export LNG. US export capacity is expected to almost double over the next 5 years. An EIA report shows natural gas exports reaching 4.6 Bcf/D in February, the 13th consecutive month in which the country's natural gas exports exceeded its imports. Exports are projected to reach 7.5 Bcf/D by 2020. The shale revolution is leading the US into a unique position: a bigger exporter of crude and petroleum liquids than the Kingdom of Saudi Arabia.
This is the second EPC contract Bechtel signed for Port Arthur LNG. Final investment decision is expected this year. The agreement comes 8 months after Saudi Aramco agreed to take a 25% ownership interest in the southeast Texas project. Phase 1 of the project is expected to produce 11 mtpa of LNG. The deal with project developer Sempra includes Saudi Aramco netting 5 mtpa of LNG offtake and a 25% equity stake in Phase 1 of the export terminal, which may reach FID later this year.
The LNG will come from the offshore Qatargas 4 project in the North Field, a joint venture between Qatar Petroleum and Shell. After 4-1/2 years out of service, the massive Wafra oil field in the Saudi-Kuwaiti Onshore Partitioned Neutral Zone, is set to resume production sometime soon and ensuring a smooth restart is no small order.
The E&P sector has maintained a strong focus on capital discipline during its recovery from the 2014 oil price downturn, as investors look for companies to generate free cash flow to help pay down debt. How will this focus affect sector growth in the near term? New analysis from Rystad Energy shows service companies are beginning to raise prices after seeing a significant drop following the oil price downturn. Pricing power is projected to keep rising in 2020 as the service industry sees more demand across the supply chain. Halliburton broke ground in Saudi Arabia for the first oilfield chemical manufacturing reaction plant in the Kingdom.
Saudi Aramco’s plan to create a global network of research centers is becoming a reality. It recently celebrated the opening of its Houston center that the company’s President and Chief Executive Officer Khalid Al-Falih described as “an upstream research center like no other.” A US oil company is using its in-house laboratory's digital imaging devices to analyze reservoir rocks in new plays to answer questions raised by complex tight oil formations that cannot be answered using routine core testing methods.