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Is Optical Gas Imaging the New Solution for Methane Detection? Thermal imaging helps operators maintain regulatory compliance on methane-emissions requirements. Optical gas imaging technology may be an answer in allowing for faster, more efficient inspections, but there are hurdles to its adoption. How can its widespread use become a reality? Water Outside the Permian: How Are Other Basins Handling the Volumes?
The amount of oil and gas resources approved for development last year surpassed 20 billion BOE, the highest level seen since 2011. Telltale signs have emerged that we are entering a new offshore investment cycle. The project aims to contribute an estimated ultimate recovery of more than 175 MMboe from one of the company’s signature deepwater projects in the US Gulf of Mexico. Following a 42-day journey from Singapore, the Liza Destiny has arrived at the Stabroek Block offshore Guyana, where it is expected to produce up to 120,000 gross boe/D from the ExxonMobil-operated deepwater project upon startup. Phase 1 production from the deepwater US Gulf of Mexico field is expected to reach 30,000 BOPD.
The research will focus on potential policy changes that could help increase oil and gas production from deepwater infrastructure already in place in the Gulf of Mexico to reduce stranded assets. The A-frame is DNV certified. The deferments are the latest actions Shell has taken in response to record low crude prices. The project aims to contribute an estimated ultimate recovery of more than 175 MMboe from one of the company’s signature deepwater projects in the US Gulf of Mexico. The subsea tieback is expected to start up in 2021.
Unprecedented, perfect storm, a black swan event—all ways of describing the situation the oil and gas sector finds itself in right now. After 4-1/2 years out of service, the massive Wafra oil field in the Saudi-Kuwaiti Onshore Partitioned Neutral Zone, is set to resume production sometime soon and ensuring a smooth restart is no small order. The startup of the deepwater field marks the beginning of production from the massive Stabroek Block, which contains an estimated 6 billion BOE. ExxonMobil estimates that at least 5 FPSOs will be producing more than 750,000 BOPD from the Stabroek Block by 2025. The unmanned development is expected to add 80 million BOE of production to the aging Norwegian North Sea field.
The research will focus on potential policy changes that could help increase oil and gas production from deepwater infrastructure already in place in the Gulf of Mexico to reduce stranded assets. BSEE said details of the policy change will come later this year. Lease Sale 256 was originally set for August but was moved due to COVID-19’s impact on the oil and gas markets. Bids will be accepted by mail only due to the ongoing pandemic. Forecasts are lowered for levels of E&P, budgets, and project sanctioning.
Africa (Sub-Sahara) Eni started production from the Nené Marine field, which sits in the Marine XII block in 28 m of water, 17 km offshore the Republic of the Congo. The first phase of the field produces from the Djeno pre-salt formation, 2.5 km below the ocean floor at a rate of 7,500 BOEPD. Future development will take place in several stages and will involve the installation of more production platforms and the drilling of at least 30 wells. Eni (65%) is the operator with partners New Age (25%), and Société Nationale des Pétroles du Congo (10%). The well's primary target is the Bunian structure: a four-way, fault-bounded anticline, which was defined by a 3D seismic survey. It will be drilled to a total depth of 1682 m.
Shell and Chevron lead the pack in a slew of Q2 losses with $18.1 billion and $8.3 billion, respectively. ExxonMobil, ConocoPhillips, Royal Dutch Shell, Petrobras, and Repsol also posted losses. The Monument well represents the Norwegian operator’s first deepwater drilling project in US waters in 5 years. The Spanish oil and gas company says existing or foreseeable technologies will achieve at least 70% of its ambitious plan to shrink its carbon footprint. Spain’s Repsol will assume 100% interest in and operatorship of the joint venture as Equinor leaves the 9-year partnership.
About 16% of US offshore production in the Gulf of Mexico remains offline after Hurricane Laura caused mass evacuations more than a week ago. The complete paper provides insight on the commercial drivers that significantly changed floating-production-system (FPS) design philosophy after 2014, with a particular focus on the US Gulf of Mexico (GOM). In the region’s second bankruptcy of the month all of the operator’s assets will be sold to a private equity energy group, pending court approval. 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.
Murphy Oil to Buy Deepwater US Gulf Assets for up to $1.625 Billion The El Dorado, Arkansas-based Murphy has quickly found a home for some of the cash it will receive from the sale of its Malaysia business. The company has been rapidly expanding its US gulf footprint while simplifying its portfolio and targeting more oil. The pact, which builds on the firms’ current partnership on the Buckskin project, covers four Keathley Canyon blocks including the Leon and Moccasin discoveries. BP announced four discoveries in the Gulf of Mexico near existing platforms. It use advanced seismic imaging to identify resources in deepwater locations that can be developed cost effectively using platforms nearby.
Africa (Sub-Sahara) An initial drillstem test on the Mzia-2 well in Block 1 flowed at a maximum rate of 57 million ft3 of gas per day, increasing the estimated recoverable resources from the field to 4.5 trillion ft3. This is the first test carried out on a Cretaceous discovery in deepwater offshore Tanzania. BG (60%) is the operator in partnership with Ophir Energy (40%). Asia Pacific Production has begun from the Wei Zhou 6-12 oil field in the Beibu Gulf basin in the north part of the South China Sea. The project has 10 producing wells drilled at an average water depth of 29.2 m. CNOOC has a 51% operating interest in partnership with Roc Oil, Horizon Oil, and Oil Australia. Salamander Energy signed production-sharing contracts for the Northeast Bangkanai and West Bangkanai license areas, onshore central Kalimantan in Indonesia. Each area covers approximately 2,214 sq miles.