The E&P company said that a reduction in its interests for projects off the coast of the West African nations should still happen by the end of this year. This includes the large Greater Tortue Ahmeyim LNG project, which is set to start up in 2022. With a $100-million investment and submittal of its offshore Pecan field development plan to Ghana authorities, Aker Energy continues its positioning for an IPO later this year. Driven by Mozambique’s Area 1 and Area 4 projects, Africa is poised to become the dominant LNG investment destination by the end of this year, with the continent seeing nearly one-third of total greenfield investment. The SPAs signed with Shell and Tokyo Gas take Anadarko’s long-term sales from the project to more than 7.5 mtpa, with additional deals expected in the near future.
If sanctioned and developed, the deepwater Pecan field would be Ghana’s fourth producing offshore field. First oil is expected 35 months after sanction, which could come as early as this year. The steel pipe manufacturer agrees to deliver outer pipes for pipe-in-pipe flowlines for a pair of recently-announced Aker BP projects in the Norwegian Sea. Oilfield Services: How Much Consolidation is Yet To Come? The recent upswing in M&As in the oilfield services sector may be a harbinger of more to come as operators push for capex and opex control.
Angola: Does Recent Change Mean Economic Development? Angola’s powerful oil and gas industry has enabled the country’s rapid growth, but an overreliance on those revenues has posed major challenges. Does a recent change of leadership mean a shift in the nation’s economic direction? Many new developments in African exploration and production hold tremendous potential to bring more energy and prosperity to the continent—and shine a light of affordable, abundant energy. A floating gas-extraction facility was constructed to extract gas-laden water, separate the CH4 and some of the CO2, and reinject the degassed water, thus increasing the safety of the lake and simultaneously providing CH4.
Phase 1 production from the deepwater US Gulf of Mexico field is expected to reach 30,000 BOPD. The field contains an estimated 5 billion bbl of oil in place. After suffering major setbacks, Chevron’s massive Big Foot project finally achieved first oil last November in the US Gulf of Mexico. With the setbacks in the rear-view mirror, project personnel spoke about the challenges. BP and partners have sanctioned the Azeri Central East project, the next stage of development of the giant Azeri-Chirag-Deepwater Gunashli oilfield complex in the Azerbaijan sector of the Caspian Sea.
In a $60 to $70 oil environment, the subsea market is poised to grow around 7% annually up to 2025. But a significant portion of this activity is at risk if the price of Brent crude falls to $50 per barrel. The subsea operations company said its most recent campaign is the first fully unmanned offshore pipeline inspection completed “over the horizon,” surveying up to 100 km from the shore. One of the largest industrial projects in the UK in recent years, Mariner marks Equinor’s first operated field on the UK Continental Shelf. It is expected to produce 70,000 BOPD at peak rates.
The entrepreneurial ecosystem and the oil and gas industry are not a perfect match, but the industry has made strides in recent years to attract the startups developing innovative technologies that could usher it into a new era. How are companies bridging the gap? The deal sees H2O Midstream increase its produced water gathering network to more than 435,000 B/D of disposal capacity and 190 total miles of pipeline. The Permian water midstream company will add more than 40,000 B/D of recycling capacity with the option to double that capacity over time. The transaction is planned to be structured as a spin-off of TechnipFMC’s onshore/offshore segment to create SpinCo and RemainCo. The separation is expected to be completed in the first half of 2020. Calgary-based Pembina Pipeline Corp. has entered into agreements to acquire Kinder Morgan Canada Ltd. and the US portion of the Cochin Pipeline system from Kinder Morgan for a total purchase price of approximately $4.35 billion.
Production from the Hibernia platform was shut down again on 17 August after its second oil spill in a month, while Husky Energy began to ramp up output from the White Rose field following the largest-ever spill off Canada’s easternmost province. Texas regulators rejected a rare challenge to gas flaring in the state after an oil company argued that a flaring ban would force it to shut in wells, damaging the reservoir and reducing future oil production. This paper highlights the results of a test campaign for a tool designed to predict the short-term trends of energy-efficiency indices and optimal management of a production plant. Researchers mapped 251 faults in the North Texas home of the Barnett Shale, the birthplace of the shale revolution, finding that wastewater injection there “significantly increases the likelihood for faults to slip.” This paper discusses studies conducted on two California offshore fields that may be abandoned in the near future.
With a $100-million investment and submittal of its offshore Pecan field development plan to Ghana authorities, Aker Energy continues its positioning for an IPO later this year. The construction of an LNG regasification terminal in Tema, Ghana, in addition to the first delivery of gas from the offshore Sankofa field in August, is decreasing the country’s reliance on liquid fuels and imports. About 80% of its power generation requirements will be met with gas.
The transaction is planned to be structured as a spin-off of TechnipFMC’s onshore/offshore segment to create SpinCo and RemainCo. The separation is expected to be completed in the first half of 2020. With a $100-million investment and submittal of its offshore Pecan field development plan to Ghana authorities, Aker Energy continues its positioning for an IPO later this year. Drones are becoming an important tool for energy companies looking to improve on-site safety and operational efficiencies, and the industry is looking for the best way to maximize their value. What are some the challenges in getting these programs off the ground?