The prolonged downturn lingers as oil and gas companies prepare for what could be another round of capex cuts. But the global oversupply is falling and depleted assets are not being replaced, a speaker at Hart Energy’s Gulf of Mexico Offshore Executive Conference said.
A new cybersecurity issue surrounds data parameterization.
Changing times call for innovative technology and collaboration to lower costs and make deepwater developments more economical.
Abu Dhabi will look increasingly to the offshore as it bids to ramp up oil output to 3.5 MMbbl/d over the next five years from 2.7 MMbbl/d currently.
Dire market conditions may have caused some to consider halting investment offshore, especially given a strong shale presence onshore. But Noble Energy sees opportunity.