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Armada to install ROV launch and recovery system on its fleet of robotic ships. Although these look like ordinary tankers, they are unique and run on LNG and recovered oil vapors. A new video by IOGP mixes animations with personal stories to illustrate the benefits of using standardized specifications in the oil and gas industry. InterMoor’s Marine Project team in Aberdeen successfully recovered the Ocean Power Technologies PowerBuoy after a 7-month trial in harsh North Sea winter conditions. A VLCC converted to FPSO, Liza Destiny has a production capacity of 120,000 B/D of oil.
Nearly everything’s on the table as companies aim to shore up portfolios by curtailing investments and dumping low-priority assets. For the offshore sector, the collapse in oil demand and prices came just as the market was beginning to look up. Now many companies are focused on survival. This article discusses how various market segments, regions, and companies are faring in “the new reality.” For the upstream industry, where improvement in efficiency or production can drive significant financial results, there is no question that the size of the digital prize is huge.
Nearly everything’s on the table as companies aim to shore up portfolios by curtailing investments and dumping low-priority assets. The deal is part of BP’s plan to divest $10 billion in the North Sea so that it can focus on developing core growth areas and construct more cost-effective subsea tiebacks in the region. Development of the Tolmount East discovery will be fast-tracked, the operator said. Operator Talos Energy now believes Zama’s gross recoverable resource lies in the upper half of its pre-appraisal estimate of 400–800 million BOE. The consortium is working toward a 2020 final investment decision on the project.
Despite the global downturn, the long-term transition to net zero presents a major opportunity to create new multibillion industries based around the North Sea. Cross-sector collaboration and major state/private sector intervention, together with strong leadership, will be key. Nearly everything’s on the table as companies aim to shore up portfolios by curtailing investments and dumping low-priority assets. An independent study pegged the cost of the project at about $2.6 billion, 80% of which Norway’s government planned to fund. The ministry said there is uncertainty about Northern Lights’ benefits and that it could prove to be unprofitable.
This paper describes how new technology was implemented and deployed through a downhole acoustic network through a sequence of runs in complex North Sea wells under managed-pressure conditions. Drilling horizontal infill wells in the Pierce field in the UK central North Sea is challenging because of a narrow drilling window caused by depletion in a highly fractured reservoir.
The complete paper describes an operator’s experience in confirming glass fiber-reinforced epoxy (GRE) as an effective alternative to high-grade corrosion-resistant alloys (CRA) to extend tubing life in high-velocity gas wells. This paper presents novel approaches to carbon abatement using petroleum that have a strong chance to succeed in fulfilling technological and economic goals. The complete paper describes an advanced Rankine cycle process-based system that converts waste heat into usable electrical power to improve the efficiency of gas-compression stations on gas-production platforms and pipelines. Carbon dioxide (CO2) waterless fracturing uses liquid CO2 to replace water as the fracturing fluid in reservoir stimulation. The continuity and reliability of the blender are key factors determining performance of the operation. The complete paper discusses the use of cumulative production ratio curves normalized to a given reference volume in time for different unconventional plays in North America to investigate the median trend for each play and the median ultimate recovery per play. In the complete paper, the authors reduce nonuniqueness and ensure physically feasible results in multiwell deconvolution by incorporating constraints and knowledge to methodology already established in the literature. In the complete paper, the authors revisit fundamental concepts of reservoir simulation in unconventional reservoirs and summarize several examples that form part of an archive of lessons learned. In the complete paper, a novel hybrid approach is presented in which a physics-based nonlocal modeling framework is coupled with data-driven clustering techniques to provide a fast and accurate multiscale modeling of compartmentalized reservoirs. An opportunity now exists to further develop the way we solve problems by adopting agile work flows. Originating from software development in 2001, agile work flows will be a key part of driving the oil and gas industry to its next level of efficiency. What the industry needs at this stage is a willingness to work together, share best practices, conduct innovative research, and focus on disruptive technologies that lower cost of capture and make our operations more sustainable.
The move to combine forces comes amid the fastest contraction in drilling activity the US shale sector has ever seen while Gyrodata will retain its international business. The provider of subscription-based analytics services for the North American oil and gas sector continues its streak of purchasing data-focused firms. There is a new, big independent in the UK North Sea, Delek Group. Its UK North Sea arm, Ithaca, bought most of Chevron’s holdings in the sector in a $2 billion deal. Total just strengthened its presence in United States deepwater plays through an acquisition from Samson that gives the French company a 12.5% interest in blocks covering the Anchor discovery, one of the most significant recent finds in the Gulf of Mexico.
Two discoveries offshore Mexico add to April’s finding in the Norwegian Sea. The Esox-1 well encountered 58 m of high-quality oil-bearing Miocene reservoirs and will be tied back to Tubular Bells production facilities. The Orca-1 and Marsouin-1 wells have derisked up to 50 Tcf of gas initially in place from the Cenomanian and Albian plays in the BirAllah area, more than sufficient to support a world-scale LNG project, partner Kosmos Energy said. India’s ONGC reported an oil find in Colombia’s Llanos Basin as well as a gas and oil discovery in Brazil’s deepwater Sergipe Alagoas Basin. Development of the Tolmount East discovery will be fast-tracked, the operator said.
Neptune must pay Energean a break-up fee of $5 million for cancelling what was to be a $250 million deal. 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.