This article highlights interesting applications of machine learning in the oil and gas industry in drilling, formation evaluation, and reservoir engineering. Each project uses a data-driven model to solve a previously complex problem using machine learning to augment an existing solution. Considering most of the rigs deal with human-machine interface systems, the role of human factors is at the heart of any successful operation. Eye-tracking technology can be useful in real-time operation centers where ocular movement data can improve the professionals’ performance. As the petroleum engineering discipline embarks on its second century of existence, what changes will academia make to keep up with the times?
The green light comes 4 years after the privately-held firm filed its development and production plan. Liberty Island would consist of gravel, stretch 9 acres, and sit just a few miles offshore. The US supermajor continues to evolve its global strategy by pulling out of once-promising Russian partnerships and adding to its offshore Guyana oil drilling bounty. Statoil has submitted a long-awaited development plan for what will become Norway’s northernmost development. It is one of the most hostile environments in the world, with some of the most remote locations, the toughest logistics challenges, and the largest gaps in infrastructure on the planet.
Will Blockchain Become the New Operational Backbone in Energy? Energy companies are looking to distributed ledger technology—otherwise known as blockchain—to help navigate the complex transactional systems that make up their operations. What is blockchain, and what makes it valuable to our industry? Statoil’s integrated operations center on the Norwegian continental shelf is one of several initiatives operators and service companies have set in motion to improve condition monitoring and maximize production on their assets. The company’s 31 licenses highlight a record-high total awarded during the latest APA round, which is aimed at developing mature areas of the NCS.
Acquiring data from an abandoned subsea well has been done before, but never quite like this. When two engineers lost their jobs during the industry downturn, they used the misfortune as an opportunity to develop an innovative concept that aims to make it a lot easier to move subsea gas long distances. Statoil has submitted a long-awaited development plan for what will become Norway’s northernmost development. An underwater safety center will be constructed in Asia to simulate diving activities and subsea emergency procedures.
The technology will provide Equinor a continual feed of updated reservoir information from its Johan Castberg and Johan Sverdrup fields with the aim of improving well placement, production, injection, and—ultimately—recovery. Statoil has submitted a long-awaited development plan for what will become Norway’s northernmost development.
As the hunger for data grows, long stepouts become more common, and fiber communication becomes standard, the use of fiber in subsea oil and gas fields is set to increase. The paper provides a fast-track approach to perform screening assessment of multiple subsea concepts. Technologies are being developed that have the potential to support marine mining in all stages from prospection to decommissioning. When two engineers lost their jobs during the industry downturn, they used the misfortune as an opportunity to develop an innovative concept that aims to make it a lot easier to move subsea gas long distances. Currently, the state of the art for subsea well control is based on hydraulic technology.
The state-owned firm is looking within its home country, around Southeast Asia, and to the Americas—including shale—in an effort to maintain its forecast average yearly production of 1.7 million BOE/D over the next 5 years. The financial effects of the downturn are set to last at least a decade—which puts the industry almost at the halfway point. 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. A new report predicts that US output will rise to a new record high of 12.1 million B/D in 2020.
The financial effects of the downturn are set to last at least a decade—which puts the industry almost at the halfway point. This is according to a new report that says the FPSO market is the most “unscathed” of all the service segments. Oil companies generate an enormous amount of data but are reluctant to share it. But more sharing of information may be required in the future to keep up with a rapidly changing energy landscape. Technology transfer in the oil business is too often discussed from a lens of bringing in outside innovations.