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SPE, through its Energy4me programme, will present a free one-day energy education workshop for science teachers (grades 8–12). A variety of free instructional materials will be available to take back to the classroom. Educators will receive comprehensive, objective information about the scientific concepts of energy and its importance while discovering the world of oil and natural gas exploration and production. Energy4me is an energy educational public outreach programme that highlights how energy works in our everyday lives and promote information about career opportunities in petroleum engineering and the upstream professions. SPE’s Energy4me programme values the role teachers and energy professionals play in educating young people about the importance of energy.
OTC panelists were excited at the potential of deepwater exploration offshore Mexico and believe that opportunities there could eventually drive a big new wave of activity. One of the oldest deepwater platforms in the Gulf of Mexico has become a profit-leader for the oil major during this downturn and is now a model for the company’s other floating assets. The new economic environment known as “lower for longer” has had no small effect on offshore safety, said a panel of experts at the 2017 Offshore Technology Conference. Panelists at the Offshore Technology Conference largely doubted that the oil and gas industry is making full use of digital technology for fundamental transformation. Companies are rethinking offshore developments and in a very tough market are finding innovative ways of bringing some projects forward.
The round included a near-$1 billion signature bonus on a Campos Basin block awarded to a Total-led consortium. 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. This paper presents a retrospective of the most-significant technologies developed and deployed in the Campos Basin for more than 80 production systems in more than 30 oil- and gas-field developments.
Noble’s first row of wells in its massive Mustang project is helping increase the operator’s DJ Basin output, and similar results are soon expected in the Delaware Basin. Proved oil and gas reserves in the US have spiked to levels not seen before, the EIA reports, and one of the main drivers is the Permian’s Wolfcamp-Bone Spring Shale.
The FPSO vessel will reduce capital expenditure and breakeven costs and increase commercially feasibility, leading to FID. With a $100-million investment and submittal of its offshore Pecan field development plan to Ghana authorities, Aker Energy continues its positioning for an IPO later this year. The construction of an LNG regasification terminal in Tema, Ghana, in addition to the first delivery of gas from the offshore Sankofa field in August, is decreasing the country’s reliance on liquid fuels and imports. About 80% of its power generation requirements will be met with gas.
The FPSO vessel will reduce capital expenditure and breakeven costs and increase commercially feasibility, leading to FID. With a $100-million investment and submittal of its offshore Pecan field development plan to Ghana authorities, Aker Energy continues its positioning for an IPO later this year.
The aerospace giant is launching a new business unit to cash in on the autonomous aviation market. It will act as a systems integrator for all Honeywell products and services that could be used in this industry. The A-frame is DNV certified. Fugro and SEA-KIT’s partnership will develop unmanned vessels, while HII and Kongsberg will market naval and maritime products. Ground sensors on assets over a broad area have limited returns on investment if the asset life cycle is less than 10 years, and obsolescence of the technology if it exceeds 10 years.
The committee is responsible for programs dealing with oil and gas reserves and resources matters, including reserves and resources definitions, terms, recommended practices, and standards. The committee disseminates reserves and resources information to other organizations, agencies, and companies involved in reserves matters, including cooperation with other committees and organizations in development and delivery of relevant training courses. The Oil and Gas Reserve Committee (OGRC) typically includes twelve to sixteen SPE members (or more when deemed necessary for special projects or special skill sets) who are degreed engineers and geoscientists with 10-plus years of experience in reserves and resources estimation. Traditionally, members serve three-year terms. In addition to the Society of Petroleum Engineers, other organizations may provide OGRC observers.
The Petroleum Resources Management System (PRMS) is a system developed for consistent and reliable definition, classification, and estimation of hydrocarbon resources. The Oil and Gas Reserves Committee has completed the revision of the Petroleum Resources Management System (PRMS) and the SPE Board approved it in June 2018. The updated PRMS is a consensus of input collected from consulting and financial firms, government agencies, and E&P companies. The process included a 90-day public comment period, and required input and approval by six sponsoring societies: the World Petroleum Council, the American Association of Petroleum Geologists, the Society of Petroleum Evaluation Engineers, the Society of Exploration Geophysicists, the European Association of Geoscientists and Engineers, and the Society of Petrophysicists and Well Log Analysts. The 2018 PRMS update maintains the foundation principles contained in the PRMS 2007 and addresses many of the points in need of clarification that have been collected over the years.