The outlook in the UK is a case study of the squeeze facing E&P in other basins where operators are trying to pay to sustain production with discoveries, while plugging and abandoning old wells, all paid for by the lean cash flow due to low oil prices. Subsea inspection/repair/maintenance services have traditionally relied on vessel-based, ROV, or diver operations. In the longer term, identifying significant incremental savings in these operations is not sustainable and an innovative approach deploying digital technologies is being investigated. The deal gives Equinor an additional 7.5% ownership stake in the Njord redevelopment project and associated tiebacks in the Norwegian Sea, and potentially raises Faroe’s value in the midst of a hostile takeover attempt by DNO. Startup comes 8 months after the initial discovery in March, marking the second successful tieback since 2017 to the Beryl Alpha platform in the UK North Sea.
The Turritella FPSO (Figure 1 above) is the deepest floating production system in the world and presented many challenges to successful execution of the surface host facilities. The long-term decommissioning of the historic Brent field has necessitated redevelopment of the younger Penguins field in the North Sea, where the UK hopes to see more revival projects in the coming years. Despite major advancements in deepwater projects in the Gulf of Mexico, FPSO usage has yet to increase. This paper describes the CLOV deepwater megaproject in Block 17 offshore Angola, which cost USD 8.4 billion to first oil. This paper describes the measures put in place so that the mooring system of the Gryphon Alpha FPSO could be replaced and reconnected on an efficient schedule.
It will provide re ... Harkand has secured a USD 5 million contract from Swiber Offshore Mexico to perform saturation divin ... Two Bumi Armada subsidiary companies secured USD 300 million worth of contracts from ElectroGas for ... Amec Foster Wheeler has been awarded a contract by BP worth more than USD 73 million. Tam International, which provides inflatable and swellable packers for the oil and gas industry, has ... Sanchez Energy closed a deal with a subsidiary of Sanchez Production Partners to sell wellbore and a ... Penn West Petroleum has entered into a USD 321 million agreement with Freehold Royalties to sell an ... Bonterra Energy has acquired Cardium formation-focused assets in the Pembina area of Alberta, Canada ... Petrobras has sold its assets in Argentina’s Austral basin to Compañia General de Combustibles for U ... Pemex signed an agreement worth USD 1 billion with private equity firmFirst Reserve to jointly inves ... Gulfport Energy entered into an agreement to acquire Paloma Partners III for USD 300 million. Apache sold its 13% stake in the Wheatstone LNG terminal in Western Australia and 50% interest in th ... Oil and gas safety company Secorp opened a new office in Hobbs, New Mexico. Bill Barrett Corp. has signed agreements with several undisclosed recipients for the sale of the maj ... Encana said it will sell its remaining 54% stake in PrairieSky Royalty via a USD-2.4-billion Cardinal Energy entered into an agreement with an unnamed seller to acquire assets whose total daily ... Petrobras has awarded a contract, worth USD 465 million over a period of 5 years, to Aker Oilfield S ... CGG received contracts for the 3D seismic acquisition of four surveys using its marine broadband tec ... IKM Subsea, a subsidiary of IKM Group, has been awarded a contract by Eni Indonesia to provide remot ... OneSubsea, Schlumberger, and Helix Energy Solutions signed a letter of intent to develop technologie ... Premier Hytemp has committed to opening a USD-20-million, 67,000-ft2 precision engineering facility ... Expro has constructed a new 20,000‑m2 facility in Macaé, Brazil.
Startup comes 8 months after the initial discovery in March, marking the second successful tieback since 2017 to the Beryl Alpha platform in the UK North Sea. The rising oil production and produced water volumes in the Permian are expanding the scope and scale of recycling. Apache is targeting 50% of its frac water to be made up from recycled produced water this year. Industry CIOs examine the challenges operators and service companies face in understanding cybersecurity threats.
This paper discusses the successful application of managed-pressure drilling (MPD) in the basin with reduction in risks and well costs. We must concentrate our paper selection on technology and operating methods that make HP/HT drilling operations faster, safer, and more cost-efficient. If above-threshold drilling costs shelve a project, the project will not fly. And without projects, HP/HT know-how and equipment quickly disappears. This paper discusses how managed-pressure-drilling (MPD) technology led to cost savings in two wells drilled in the Hai Thach gas field offshore southern Vietnam.
The startup of a second FPSO will add 115,000 BOPD to the deepwater project offshore Angola, bringing overall production capacity to 230,000 BOPD. Commissioning is complete and Bechtel has turned over care, custody, and control of Train 1 to Cheniere, It's the first liquefaction train placed into operation in a greenfield facility in the lower 48 states. Current production from the phase is 400 MMcf/D and expected to peak at 700 MMcf/D. A third phase also is slated to come on stream this year. McDermott will provide EPC, hookup, and commissioning of the Cassia C topsides, a jacket, and a bridge to link Cassia C with the existing Cassia B platform.
Ashtead Technology has acquired Louisiana-based subsea equipment rental and cutting services specialist, Aqua-Tech Solutions, as part of the company’s international growth plans in the US. High-fidelity 3D engineering simulations are valuable in making decisions, but they can be cost-prohibitive and require significant amounts of time to execute. The integration of deep-learning neural networks with computational fluid dynamics may help accelerate the simulation process. The chemical reactions creating buildups of scale that can clog a well can be replicated in a chemical lab, but researchers are finding many more variables on the surfaces of pipes that need to be considered. ExxonMobil signed a sales and purchase agreement with Zhejiang Provincial Energy Group for LNG supply.
With the purchase, the growing, privately-held Chrysaor Holdings will expand its UK North Sea production to 185,000 BOE/D. The state-run offshore company has found a gas and condensate field that holds an estimated 250 million BOE. The latest example of the offshore sector's march toward automated wellbore construction will take shape later this year in the North Sea. Just 2 months after issuing more than a hundred licenses, the Oil and Gas Authority begins the process again for a whole new set of blocks. The company announced it would “initiate the process” of marketing its UK Central North Sea fields as part of a portfolio review.
Ghawar vs. Permian Basin: Is There Even a Comparison? While some try to put the two enormous oil producers toe-to-toe, the best thing to do might be to understand why they are different. A challenging problem of automated history-matching work flows is ensuring that, after applying updates to previous models, the resulting history-matched models remain consistent geologically. Production growth in the Permian Basin requires drill rigs running at a high pace. That is challenging companies to push well productivity.