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The $20.7-billion agreement is the single-largest energy infrastructure investment in the region. The most recent hydrocarbon production boom is under way in the Middle East, and this time, the race is spilling into offshore waters. The companies will focus on research and development to reduce CO2 emissions and promote the circular economy. ADNOC’s drilling subsidiary has increased its rig fleet to 95 and plans to add “dozens” more by 2025. The upgrade project will increase the maturing field’s oil production to 485,000 B/D.
The $20.7-billion agreement is the single-largest energy infrastructure investment in the region. In 2 months, the US saw a 56% decline in rig count, reaching a 33-year low. There are numerous views of what the future energy landscape will look like in the next decade and beyond. When thinking about sources of primary energy, it is not a question of either/or, it is a question of what can reach scale fast enough to meet continued demand growth. Not everybody suffers when US oil producers slash production.
The $20.7-billion agreement is the single-largest energy infrastructure investment in the region. Hear first-hand from the first-ever Cheif Technology Officer at the Abu Dhabi National Oil Company, Alan Nelson, about the integrated operator's digital transformation strategy. The companies will focus on research and development to reduce CO2 emissions and promote the circular economy. ADNOC’s drilling subsidiary has increased its rig fleet to 95 and plans to add “dozens” more by 2025. The upgrade project will increase the maturing field’s oil production to 485,000 B/D.
World energy is at a “pivotal moment,” says BP CEO in annual statistical review, which reveals contrasts, challenges in energy consumption, production, and emissions. COVID-19 will fundamentally affect the world’s energy systems and the pace and direction of global transition. The WEC identified a three-stage, respond-rebuild-recreate model being adopted by energy companies in response to the pandemic. The first interdisciplinary oil and gas conference to be held in Saudi Arabia, the 12th International Petroleum Technology Conference, was the largest in its history in attendance. This features highlights of the panel and technical sessions, and an interview with Saudi Aramco CEO Amin Nasser.
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.
ADNOC and CNOOC will explore multiple new opportunities for collaboration across the upstream and downstream sectors in the UAE and China. The deal calls for CNOOC to get 1.5 mtpa of gas from the Anadarko-operated Mozambique LNG project over the next 13 years. The project is the first onshore LNG development for the coastal East African nation. The Hess-operated field, which drew first oil in January, is expected to produce 80,000 BOPD as production ramps up this year.
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 technologies born out of innovative ideas have been critical for advancing deepwater assets in the past, and venture-capital investment helps incubate risk-taking companies developing those technologies. With digitization becoming a greater focus in industry, what role will venture capital play? The new deal covers production deck manifolds and subsea pipelines for Zuluf and Berri, two large fields undergoing expansion projects.