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Winning innovators focused on environment, safety, and operational efficiency. Through a combination of reducing operational emissions and offsetting projects, the shale-gas producer has set a new benchmark for its sector. Add Denbury Resources to the list of oil companies filing for bankruptcy protection with a plan that may make for a quick trip through the debt-reduction process. Although based on “intensity” and not “absolute” emissions, oil giants say it’s a step toward net-zero goals for 2050. An independent study pegged the cost of the project at about $2.6 billion, 80% of which Norway’s government planned to fund.
The Way Ahead interview team spoke with Armstrong on a number of topics, including his personal experiences, the history of Williams and the midstream oil and gas industry, as well as his advice to young professionals. The AI revolution in the market for consumer goods by companies like Amazon and Alibaba led to significant changes in the market dynamics. Similar impacts can be expected in the midstream industry as the AI revolution unfolds there. CCUS is an interdisciplinary research field and its broad scope means that CCUS offers numerous opportunities for science and engineering graduates, including petroleum engineers. What is pipeline integrity management and what are the crucial components of a well-rounded integrity management system?
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. CCUS is an interdisciplinary research field and its broad scope means that CCUS offers numerous opportunities for science and engineering graduates, including petroleum engineers. Providing access to more than 180,000 papers and presentations, OnePetro is a definitive resource for upstream oil and gas technical information.
The partnership opportunity is designed to spur the development of next-generation tools and technologies that will become widely adopted throughout the energy sector to reduce the risk that a cyber incident could disrupt the country’s energy system. ExxonMobil has committed $100 million over 10 years to work with the National Renewable Energy Laboratory and the National Energy Technology Laboratory to bring lower-emissions technology to commercial scale. The US Department of Energy has announced up to $20 million in federal funding for cooperative agreements that will help accelerate the deployment of carbon capture, utilization, and storage.
Senior oil and gas professionals see hydrogen as a significant part of the global energy mix by 2030. Gassnova has assigned Statoil to evaluate the development of carbon storage on the Norwegian continental shelf. This will be the first storage site in the world receiving carbon dioxide from several industrial sources.
The largest US clean energy incubator has selected the city as the site for its second location, expanding Houston’s role as energy capital of the world beyond oil and gas. As industry imposes work from home, health checks, and other severe measures, could digitalization provide relief? The partnership will fund research projects that aim to improve the understanding of the environmental impacts of decommissioning and provide guidance on best options from an environmental perspective. Chevron Technology Ventures has joined a consortium in a $16-million investment in a company that provides portable carbon-capture technology. Chevron has evacuated all of its American oil workers from Iraq following the recent US airstrike in Baghdad.
Total is stepping up its research into carbon capture, utilization, and storage technologies by signing a multiyear partnership with UK startup Cambridge Quantum Computing. This partnership aims to develop new quantum algorithms to improve materials for carbon capture. The French oil and gas major announced that it plans to achieve net-zero emissions by 2050 for its global business across production and including energy products used by its customers. As industry imposes work from home, health checks, and other severe measures, could digitalization provide relief? Equinor and partners Shell and Total have completed the drilling of a confirmation well south of the Troll field in the North Sea.
Three young entrepreneurs who were engineers in the oil and gas industry share how they started their business during a downturn, the challenges they faced, and how they succeeded them. CCUS is an interdisciplinary research field and its broad scope means that CCUS offers numerous opportunities for science and engineering graduates, including petroleum engineers. Underbalanced coiled tubing drilling has continually advanced since the first trials in the 1990s but remains a relatively niche drilling technology.
The common energy transition story that we’ve been told is that eventually renewable energy sources will replace oil and gas completely. CCUS allows us to turn this problem into an opportunity. What will competitiveness look like in our industry in 10 or 20 years from now? What novel pathways might we envision to restore the natural environment, while creating shareholder value and enhance our license to operate? How can you serve as a potent catalyst for positive change?