Asia Pacific Santos discovered gas with the Corvus-2 well in the Carnarvon Basin, offshore Western Australia. The well, located in permit WA-45-R, in which Santos has a 100% interest, reached a total depth of 3998 m. It intersected a gross interval of 638 m, one of the largest columns discovered across the North West Shelf. Wireline logging to date has confirmed 245 m of net hydrocarbon pay across the target reservoirs. Total SA and partners ExxonMobil and Oil Search have signed a gas agreement with the government of Papua New Guinea that defines the fiscal framework for the Papua LNG project in the country's Eastern Highlands. The plan involves construction of three 2.7-mtpa LNG trains on the existing PNG-LNG plant site at Caution Bay just west of Port Moresby. Total has 31.1% interest, ExxonMobil has 28.3% interest, and Oil Search has 17.7%.
Moving their directional drillers into their Houston real-time remote operations centers has improved drilling efficiency for two of the top shale producers. The major’s dominant showing in US Gulf of Mexico Lease Sale 252 propelled another rise in bids and dollars for the biannual regionwide auction. Funding for startups in the upstream industry does not always guarantee that oil and gas companies will want to test the new technology. A new venture and accelerator model hopes to change this through guaranteed pilots. The Pluma-1 discovery could turn the southeast portion of Stabroek Block off Guyana "into a major new development area," the company says.
The Italian operator reported positive appraisal and exploration results from wells drilled some 10,000 km apart. UK operator Trident Energy is entering Brazil while Australian firm Karoon Energy is expanding its position in the country. Both will try to boost output from already-producing assets. Findings from Kayrros suggest the average Permian well is both less productive and more expensive than reflected in public data. Mexican President Andrés Manuel López Obrador is prioritizing investment in Pemex over foreign participation as a means to boost the country’s shrinking oil output.
The firms are now partners on multiple blocks in the North Argentina Basin. Australia’s BHP Billiton and the recently acquired Anadarko Petroleum submitted the largest dollar totals of high bids in US Gulf of Mexico Lease Sale 253. Production from the Hibernia platform was shut down again on 17 August after its second oil spill in a month, while Husky Energy began to ramp up output from the White Rose field following the largest-ever spill off Canada’s easternmost province. The discovery marks London-based Tullow’s first operated contribution to a long list of discoveries since 2015 in the emerging petroleum province. Anchored by the Khaleesi-Mormont and Samurai fields, the King’s Quay FPS will receive and process up to 80,000 B/D of crude oil.
Are Deepwater Projects Due for a Revival? What does the landscape for deep water look like in the near term? Will operators get more involved? Subsea Production Systems—Will 2019 Be a Tipping Point? The past year ended with a surge of subsea tree awards as E&P operators locked in lower supply-chain cost.
Decommissioning and abandonment comes with its share of unexpected surprises, but many of those surprises could be avoided merely through better planning and care. These balls have the potential to alter how pipeline inspections are done, and a consortium of pipeline operators and industry experts in North Dakota is examining just how well this emerging technology can handle the small-diameter pipelines in the area. Scheduled for startup in 2022, the FPSO is expected to produce up to 220,000 BOPD on the development offshore Guyana. Liza is one of eight discoveries ExxonMobil has made in area. The Hess-operated field, which drew first oil in January, is expected to produce 80,000 BOPD as production ramps up this year.
Approximately $200 billion in projects worldwide are racing to be approved over the next 2 years. The race is not just to make FIDs on projects, but also to enter FEED work to lock in contractors before others do. Driven by Mozambique’s Area 1 and Area 4 projects, Africa is poised to become the dominant LNG investment destination by the end of this year, with the continent seeing nearly one-third of total greenfield investment. A final investment decision is expected later this year on the project, which will involve the construction of two trains with a combined annual capacity of more than 15 mtpa of LNG. ExxonMobil signed a sales and purchase agreement with Zhejiang Provincial Energy Group for LNG supply.
Upon completion, the FPSO will be the first permanently fiber rope-moored offshore facility in the Mediterranean, processing the reservoir fluids and export sales gas from the Karish and Tanin gas fields offshore Israel. At nearly 3,000 tonnes, the company said its lift of an FPSO module was one of the heaviest land-based crane lifts ever performed. ALE was contracted to lift six modules for Total’s FPSO module integration project in Nigeria. The Neptune-operated project is on track to start drilling later this year, with first oil scheduled for the end of 2020. The Norwegian North Sea field is expected to produce 30,000 BOE/D at its peak.
Latest News are articles brought to you online only and have not been published in an issue of JPT. The well will immediately be brought on production and is expected to flow at more than 100 MMscf/D of gas and 3,000 B/D of associated condensate, the company said. The $5.6-billion deal includes the Prudhoe Bay field and the Trans Alaska Pipeline and vaults Hilcorp to be the second-largest Alaska producer and reserves holder, behind only ConocoPhillips. The shale sector is studying the results of a 23-well experiment in the southeastern corner of New Mexico to learn what the wider implications might be. The shale sector is making moves to consolidate amid investor pressure to increase cash flow. This deal will form the second-largest producer in Colorado’s DJ Basin.
Premium acreage costs in the Permian have increased industry interest in acreage swaps, divestment, and M&A activity. Several oil and gas CEOs are ranked highly in CEOWorld's 2019 list of Best CEOs. Digital oil and gas applications are expanding by leaps and bounds, providing insights and improving decision making and execution. Here are the top areas which could significantly improve business bottom line. Petrobras’s supercomputer Fênix is among the world’s 500 biggest computers and ranks first in Latin America.