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The joint oil field had been offline since 2015, due to an operational dispute. 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. With their gee-whiz—albeit artificial—intelligence, robots may be the industry’s answer to jobs deemed dangerous, dirty, distant, or dull. Nearly everything’s on the table as companies aim to shore up portfolios by curtailing investments and dumping low-priority assets.
The Offshore Technology Conference was cancelled for the first time ever due to the COVID-19 pandemic. But the flow of ideas continues. As proof, this curated summary of technical papers highlights unique concepts that might someday reduce the offshore sector’s heavy cost burdens. The complete paper discusses a method of stimulating deep, high-temperature offshore wells by combining an efficient single-phase retarded acid (SPRA) system and an engineered, degradable, large-sized particulate and fiber-laden diverter (LPFD). Schlumberger plans to restructure by focusing on basins and divisions in line with customers’ E&P workflows.
A new idea from Equinor calls for autonomous submarines to transport CO2 from the surface to the seabed. The Norwegian operator says the shuttles could also carry oil and water for injecitons. The Offshore Technology Conference was cancelled for the first time ever due to the COVID-19 pandemic. But the flow of ideas continues. As proof, this curated summary of technical papers highlights unique concepts that might someday reduce the offshore sector’s heavy cost burdens.
The Monument well represents the Norwegian operator’s first deepwater drilling project in US waters in 5 years. Amid continued health and travel concerns, the OTC Board of Directors felt this decision was the most feasible and responsible. For the upstream industry, where improvement in efficiency or production can drive significant financial results, there is no question that the size of the digital prize is huge. As the fallout deepens from the coronavirus pandemic and the global collapse in oil and gas prices, oil- and gas-producing regions around the world are feeling the pain. Oil and gas operators played it safe in the latest offshore auction by placing about half the high bids typically made.
Transocean reported a long list of reasons why the deepwater drilling business is coming back strong. Making money is still not one of them. 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. Wells in deepwater reservoirs show significant rate decline with time as the result of various causes. A diagnostic tool for quantification of factors influencing well-productivity decline is presented in this paper.