|Theme||Visible||Selectable||Appearance||Zoom Range (now: 0)|
A new licensing round will open up 136 blocks in the Arctic Barents Sea. Because the greenfield can use existing infrastructure, the Norwegian operator says it will count as a low-carbon development. The first of three major unconventional developments in Saudi Arabia has been given the green light. The project will underpin the country's goal to become a top gas exporter by 2030. The Italian oil and gas company has found its second big well offshore Mexico and is setting its sights on several more in the near future.
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.”
A new licensing round will open up 136 blocks in the Arctic Barents Sea. Country had hoped to boost oil output and bring in much-needed revenues. Two discoveries offshore Mexico add to April’s finding in the Norwegian Sea. Oil companies large and small have pulled out the stops to stay on solid ground. 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.
Both platforms offshore assets were shut in following a leak in ExxonMobil's 100,000 B/D pipeline system. Qatar Petroleum will delay its North Field LNG expansion in Qatar with startup in 2025. Its Golden Pass project in Texas remains on track. The Rovuma LNG project in Mozambique was expected to reach FID later this year, with startup in 2025. The startup of the deepwater field marks the beginning of production from the massive Stabroek Block, which contains an estimated 6 billion BOE.
With their gee-whiz—albeit artificial—intelligence, robots may be the industry’s answer to jobs deemed dangerous, dirty, distant, or dull. 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. 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. The Open Group OSDU Forum aims to create a standard data platform on which members work collaboratively to enable secure, reliable, global access to all subsurface and well data.
The good news is 95% of the oil companies in Texas are expected to survive 2020, which means there is a lot of bad news to endure. Although oil prices were down on 8 June, the market is expected to see higher prices in response to the OPEC+ decision to continue production cuts. What Damage Is Wrought by the Rush to Shut In Wells? The Permian Basin is now influencing the upstream water market on the way down, while many questions swirl around the implications of unprecedented shut-ins. Autonomous Inflow Control Valve technology demonstrates significant benefits within first year.
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. World energy is at a “pivotal moment,” says BP CEO in annual statistical review, which reveals contrasts, challenges in energy consumption, production, and emissions. New report offers guidelines for pressure pumpers of the future. COVID-19 will fundamentally affect the world’s energy systems and the pace and direction of global transition.
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.
Guyana continues to strengthen its reputation as the world’s fastest growing offshore exploration hotspot. First oil from the 120,000-B/D Liza Destiny floating production, storage, and offloading vessel, which arrived on the block in late August, is targeted for December. Yellowtail-1 is the fifth discovery in the Turbot area, where ExxonMobil plans another Stabroek Block development hub. The Pluma-1 discovery could turn the southeast portion of Stabroek Block off Guyana "into a major new development area," the company says. Already poised to produce more than 500,000 B/D offshore Guyana, ExxonMobil added yet another discovery to its bounty in the emerging regional oil powerhouse, meaning a fourth development phase could be in order.