Exclusives

Threats to new investment stand alongside political risks to oil and gas production.

Technology exists but the economics must be right for projects to come to fruition.

A data-driven approach could help alleviate supply chain management challenges.

The company’s production could surpass 600,000 bbl/d by 2018.

The push to exploit big data and apply analytics comes as operators work to increase production.

Exploration

Exploring new areas, applying current or new technology in existing fields can revive production, a researcher said.

As channel count soars, many are reaping the benefits of better land seismic images.

The company is targeting areas worldwide, including in Latin America and Russia.

Production

OPEC said Saudi Arabia led declines in the group’s oil output last month, weeks before its 12 members meet to decide whether to trim a global supply glut that drove crude prices into a bear market.

OPEC is resisting pressure to cut oil production while demand slumps as it tests how low prices must go to make U.S. shale oil unprofitable. 

The forecast presented at Rio Oil & Gas 2014 finds capacity will continue to grow despite challenges.

Some companies have found ways to reduce freshwater use as areas with shale resources battle drought.

Technology

DNV GL has established a JIP to develop guidelines for a decision support framework for corrosion assessment and integrity management of aging wells.

SBM Offshore has reached an out-of-court settlement with the Dutch Public Prosecutor’s Office (Openbaar Ministerie) over the inquiry into alleged improper payments, the company said in a news release.

Seadrill Ltd. has entered into an agreement to sell the drillship West Vela to Seadrill Capricorn Holdings LLC. 

Technip was awarded subsea contracts by Chevron Indonesia and EnQuest.

BW Offshore has received a two-year contract extension for the lease and operation of the FPSO vessel Berge Helene.