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.
BG Group has entered into an agreement with GasLog Ltd. for GasLog to acquire two modern tri-fuel diesel electric LNG carriers; BG Group will charter back the two vessels.
Ennsub was responsible for the design and supply of all equipment, including downline recovery winches, remote disconnect heads and isolation plugs.
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.
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.
Platform operator Energy XXI reports that there are gas bubbles intermittently rising to the surface and no other pollution has been observed. No one was injured.
Swala Oil & Gas Tanzania Plc will push ahead with drilling plans in the East African Rift system this year, undeterred by the recent collapse in oil prices.
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.”
McDermott International Inc. and GE Oil & Gas launched io oil & gas consulting, a new independent venture for front-end offshore field development.
Acteon has created Clarus Subsea Integrity Inc., a new group company created from 2H Offshore’s subsea integrity business segment.
Gary Luquette has been appointed president and CEO of Frank’s International, succeeding D. Keith Mosing.
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.
The Kyzyloi contract area has been increased by 56% to 449 sq km (173 sq miles).
With production of 9.5 MMbbl/d and exports of 7 million, Saudi Arabia accounts for more than a 10th of global supply and a fifth of crude sold internationally.
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.