As the oil and gas industry works through tough times, focus on safety and compliance is fueling growth.
Exploration work is also moving along at a steady pace, with appraisal drilling and seismic shoots ongoing.
Round One makes available 169 blocks with more than 18 Bboe in prospective resources and proven and probable reserves.
Oil price threatens to demote the importance of a region already challenged by high costs, environmental concerns and technological obstacles.
Artificial lift and subsea processing are among the technologies to watch.
A process called forward-osmosis is applied to clean water used in hydraulic fracturing.
Researchers estimate that for every gallon of water used to frac for natural gas, Texas saved 33 gallons of water by using that gas for electricity generation.
The order is for electro-hydraulic, steel tube umbilicals totaling approximately 14.3 km (8.9 miles) in length, umbilical termination assemblies, hydraulic and chemical distribution units, electrical distribution units, flying leads, and junction plates, the release said.
During the time of this agreement, more than 75% of Chevron's equity LNG from Gorgon will be committed to customers in Asia.
Aker Solutions will provide EPMA services for five years at the Statoil-operated Johan Sverdrup development in the Norwegian North Sea.
Statoil is awarding a contract to Kværner Verdal for delivery of the riser platform jacket for the Johan Sverdrup Field.
Keppel Singmarine Pte. Ltd. has secured a contract from New Orient Marine Pte. Ltd. for an ice-class multipurpose vessel worth about $212 million.
Success calls for technology investment despite industrywide cutbacks and high costs, according to panelists.
Companies embrace prescriptive analytics to improve production.
Data-driven models can shed light on factors that influence operations.
The push to exploit big data and apply analytics comes as operators work to increase production.
Problematic areas have included perforation issues, loss of fracture length, and sometimes wellbore connectivity.
The drillship, which can accommodate a 20,000-psi BOP system, has been designed in full compliance with the ABS Guide for the Classification of Drilling Systems.
The company began discussions earlier this year with some contractors to lower rig rates and other services, CFO Mario Beauregard said in a telephone interview.
Following successful first oil in November 2014 and completion of the 72-hour continuous production test in early December 2014, PRN goes into effect retroactively to Nov. 28, 2014.
As part of the contract extension, Ocean Rig will adjust the existing day rate of the drillship contract in exchange for Eni agreeing to enter two new contracts for one or more of Ocean Rig’s available drillships in West Africa.
The contract, which has become effective, is worth about $705 million.
Saudi Aramco plans to start natural gas production at a field near Jordan next year as the world’s biggest crude exporter is “investing big in gas.”
Acteon has created Clarus Subsea Integrity Inc., a new group company created from 2H Offshore’s subsea integrity business segment.
By buying into Russia’s largest driller, Schlumberger is putting aside concerns about economic sanctions and the state of the country’s economy.
Even as they beat analysts’ profit estimates, the second- and third-largest services providers are reducing their workforces and seeking to cut costs after oil prices fell 46% last year.
Anticipating lower spending by customers this year, Schlumberger is decreasing its workforce by 7.1% and seeking to lower operating costs at a unit that helps producers find oil and natural gas, the Houston- and Paris-based company said in an earnings report Thursday.
MDU Resources Group Inc. has announced that Pat O’Bryan will become CEO of its Fidelity Exploration & Production Co.
Stephen Riney will be appointed as executive vice president and CFO for Apache Corp., the company said in a news release. He is scheduled to begin in February.
PIRA Energy Group founder Gary Ross stepped down as the energy research firm’s CEO on Jan. 22, allowing COO Gemma Postlethwaite to take the helm of the 39-year-old organization.
Chris Bruijnzeels will become the president and CEO of ShaMaran Petroleum Corp, a publicly listed oil and gas company in which Lundin Petroleum has a shareholding, the release said.
John J. Christmann, IV, will succeed G. Steven Farris as president and CEO of Apache Corp.
A Labour Party amendment to the Infrastructure Bill working its way through Parliament will mean barring hydraulic fracking unless 13 gaps in regulation are filled, it said in a statement.
Oman joined Venezuela and Iran in questioning the group’s decision to keep its output target unchanged even with crude prices falling.
Of the 54 production licenses, 34 are located in the North Sea, 16 are in the Norwegian Sea and four are in the Barents Sea, the release said.
The government’s 4.2 MMbbl estimate of the spill size was rejected by U.S. District Judge Carl Barbier, decreasing the potential maximum fine from $18 billion. BP estimated the flow at 2.45 MMbbl.
The U.K.’s Environmental Agency has granted Cuadrilla the environmental permits for its proposed shale gas exploration site at Preston New Road.