This seminar will teach participants how to identify, evaluate, and quantify risk and uncertainty in everyday oil and gas economic situations. It reviews the development of pragmatic tools, methods, and understandings for professionals that are applicable to companies of all sizes. The seminar also briefly reviews statistics, the relationship between risk and return, and hedging and future markets. Strategic thinking and planning are key elements in an organisation’s journey to maximise value to shareholders, customers, and employees. Through this workshop, attendees will go through the different processes involved in strategic planning including the elements of organisational SWOT, business scenario and options development, elaboration of strategic options and communication to stakeholders.
The benchmark comes as operator Eni solidifies concession agreements and ramps up exploration and development in the North African country. Touted as the Mediterranean Sea’s largest-ever gas discovery, the “supergiant” Zohr field is expected to cover much of Egypt’s gas demand in the coming decades. Untapped offshore gas reservoirs could easily meet all of the country's domestic needs, while the rest could supply regional neighbors.
The benchmark comes as operator Eni solidifies concession agreements and ramps up exploration and development in the North African country. Touted as the Mediterranean Sea’s largest-ever gas discovery, the “supergiant” Zohr field is expected to cover much of Egypt’s gas demand in the coming decades.
The Apollonia tight-gas chalk play is located in the Abu Gharadig Basin in the Western Desert of Egypt. This has long been ignored as a gas play in the overburden, while the Jurassic and Cretaceous oil fields deeper in the basin have been explored and developed. Large areas of the North Sea contain Cretaceous sediments, which form a massive hard layer of chalk that historically has presented a major drilling risk and expense to operators in the area.
The Apollonia tight-gas chalk play is located in the Abu Gharadig Basin in the Western Desert of Egypt. Dubai Petroleum embarked on a new mission last year to drill and complete its first multistage, hydraulically fractured, and propped horizontal well from an offshore platform. This paper gives the recommended MSF horizontal-well spacing for several development scenarios in Saudi Arabian gas-reservoir environments. A tight gas carbonate reservoir with no oil rim in a supergiant onshore gas field in Abu Dhabi was targeted for stimulation during a field review to increase field production.
By racking up exploration agreements in the United Arab Emirates, Oman, and Bahrain, Eni took a big step forward in its pledge to tap into the Middle East’s vast swaths of highly prospective oil and gas acreage. The French major will become operator of the Ruwais Diyab concession, and ADNOC says additional companies are lining up to partner on the emirate’s other unconventional areas. Partnerships are proving key in developing and sustaining big offshore projects internationally, with Eni now teaming with ADNOC off Abu Dhabi and farming out another stake in the Zohr gas field off Egypt. The feasibility test conducted offshore Abu Dhabi demonstrated the successful and safe deployment, seismic-data acquisition, and retrieval capabilities of the AMV and 3D sensor array. As part of a project that involves the use of four artificial islands to drill and complete more than 300 extended-reach-drilling (ERD) wells in a giant offshore oil field, several completion designs have been piloted for brownfield development.
The Italian operator reported positive appraisal and exploration results from wells drilled some 10,000 km apart. UK operator Trident Energy is entering Brazil while Australian firm Karoon Energy is expanding its position in the country. Both will try to boost output from already-producing assets. Findings from Kayrros suggest the average Permian well is both less productive and more expensive than reflected in public data. Mexican President Andrés Manuel López Obrador is prioritizing investment in Pemex over foreign participation as a means to boost the country’s shrinking oil output.
Petrobras and Shell have brought online the Lula field’s seventh FPSO as the firms continue to ramp up production from the pre-salt Santos Basin. The national oil company’s aim to lift oil and gas production and reserves over the next few years will rely on growth from big international projects, including those in Nigeria, Guyana, and the US. Majors BP and Chevron have overcome development challenges and delays to launch their respective Clair Ridge and Big Foot projects. The unit is flowing oil and gas from the Lula Extremo Sul area, 290 km off Rio de Janeiro state in 2150 m of water. The $28-billion Shah Deniz Phase 2 project off Azerbaijan will supply gas to Europe through the Southern Gas Corridor pipeline system.
Researchers from the Federal Reserve Bank of Dallas quantified the economic impact of the US shale revolution for the first half of this decade. 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. Anchored by the Khaleesi-Mormont and Samurai fields, the King’s Quay FPS will receive and process up to 80,000 B/D of crude oil. Despite reports to the contrary, Permian well productivity remains healthy, with average new production per well in the basin matching all-time highs, Rystad says. 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.”
SPE is educating the next generation of aspiring engineers, scientists and managers about the oil and gas industry. This is an opportunity for school students in grades 9–12, studying Mathematics, Physics, Chemistry, Geography or interested in Petroleum Engineering are invited to join SPE members from all over the globe to discover the world of Petroleum Engineering. School teachers are invited to bring a group of 10–15 students. Students will be treated to a range of hands-on activities and presentations from renowned engineers. The oil price outlook coupled with the response of each oil and gas company to make ends meet has led to severe exploration budget cuts.