|Theme||Visible||Selectable||Appearance||Zoom Range (now: 0)|
Two of the biggest assets to suffer from the new valuation are in Australia. Shell’s QGC venture and its floating liquified natural gas facility, Prelude, have been reduced in value by up to $9 billion. 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.”
With their gee-whiz—albeit artificial—intelligence, robots may be the industry’s answer to jobs deemed dangerous, dirty, distant, or dull. 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. A new licensing round will open up 136 blocks in the Arctic Barents Sea.
With their gee-whiz—albeit artificial—intelligence, robots may be the industry’s answer to jobs deemed dangerous, dirty, distant, or dull. This paper describes an automated work flow that uses sensor data and machine-learning (ML) algorithms to predict and identify root causes of impending and unplanned shutdown events and provide actionable insights. 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.”
This page pulls together technology-focused articles from various departments within JPT. 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 complete paper highlights examples of nonmetallic materials selection and qualification for upstream water-injection and producer and hydrocarbon wells and presents suggestions for future progress. The complete paper presents the results of evaluation of laboratory and demonstration trials of HDPE liner to mitigate premature failures and prolong the run life of production tubing.
Potential suitors to acquire Chevron’s stake in the LNG project include co-owner and operator Woodside. This contract is for the development of the Lambert Deep and Phase 3 offshore Northwest Australia. The company announced both contract awards simultaneously. The new contract awards could be worth up to $800 million. The Australian company upped its forecast of initial oil production out of the field from 50,000 B/D to somewhere between 75,000 and 100,000 B/D.
The inspection projects to assess water ingress will be done via remotely operated vehicle. A recent test proved the feasibility of using LiDAR on remote-controlled drones to create 3D maps of the inside of tanks, increasing the safety and efficiency of inspections. Sleipner’s share in net-zero emissions savings will be more than 150,000 tonnes per year. Work has resumed on Energan’s Singapore FPSO; subsea installation for the Karish project continues as planned. The FPSO vessel will reduce capital expenditure and breakeven costs and increase commercially feasibility, leading to FID.
Armada to install ROV launch and recovery system on its fleet of robotic ships. Delivery of the umbilicals is expected in Q4 2021. The King’s Quay FPS achieved FID in Q2 2019, and is expected to process up to 80,000 B/D of crude oil with first production in 2022. WFS Technologies’ collaboration is its second in as many months supporting its Seatooth technologies. Petrofac’s well management contract comes nearly a month after IOG received approval for phase 1. The contract also follows an EPC contract awarded to Subsea 7 in May.
The Hydrogen Offshore Production project identifies an alternative to decommissioning by providing reuse options for offshore infrastructure. It aims to prove the feasibility of decentralized hydrogen generation, storage, and distribution solutions to provide a bulk hydrogen solution. If we must reduce emissions to make our industry “greener,” what are some of the options that we can apply? Most crude exports coming out of the North Sea since March have been destined for Asia, where floating storage levels remain high. The inspection projects to assess water ingress will be done via remotely operated vehicle.
Equinor has chosen four suppliers for inspection services on all offshore installations on the Norwegian Continental Shelf and onshore plants in Norway. The frame agreements, estimated at $383 million, are scheduled to be signed soon. The new deals, valued at approximately $2.9 billion over 3 years, cover services for liner hangers, downhole monitoring, and additional completions on the NCS. Called Eelume, the underwater drone will perform subsea inspection, maintenance, and repair work. A project of “firsts,” Equinor’s Aasta Hansteen spar platform began producing gas on 16 December, opening a new region for gas export to Europe and the UK.