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The company forecasts economic growth in developing countries to lead the way for energy consumption while oil and natural gas become the dominant resource by 2040.
The industry is coming back to life, with recovery reaching outside the prolific Permian Basin.
The North African nation hopes to regain pre-Arab Spring production levels, but challenges abound.
Less product results in greater depth than the competition.
With Shell U.K. Ltd. submitting a decommissioning program for the Brent Field to the U.K. government, three concrete gravity-based platforms create major logistics problems.
One pilot involves increasing the number of stages per well, while the other focuses on higher proppant loading.
Particle analysis and real-time tracking are just two of many areas where new technologies are driving innovation in proppant efficiency and well productivity.
One company’s ‘super-lateral’ approach is paying significant dividends.
Bakken E&P companies turn their sights on reducing drilled but uncompleted wells backlog.
The next generation of pressure pumping systems delivers a cleaner, quieter solution to hydraulically fractured wells.
Eco Atlantic also owns several licenses to drill offshore Namibia, one of which is also in partnership with Tullow, Reuters reported.
There are about 350 unsanctioned discoveries containing more than 3 billion barrels of oil equivalent remaining in the U.K. Continental Shelf. Most small pools are in close proximity to existing infrastructure.
Weatherford will contribute well construction expertise, managed pressure drilling solutions, directional drilling capabilities and drilling hardware, and associated software applications and engineering personnel.
The Total-led consortium has bid for one block in the Ionian. Hellenic Petroleum has bid independently for two other blocks in the same region, Reuters reported.
The production test recorded the Merakes reservoir's gas deliverability. Merakes could have 2 trillion cubic feet of gas in place.
The captured CO2 is expected to grow oil production at the West Ranch oil field by 5x its current amount over the next few years.
Operators have alternatives when it comes to EOR technology and one process appears less costly than others.
Researchers were able to achieve 15% tertiary oil recovery using a nanofluid of graphene-based amphiphilic nanosheets that are effective at low concentrations.
Thermal production is expected to take longer to restart than mining output because of steaming and heating processes involved and because some thermal projects remain inaccessible due to fire, Reuters said.
As the company awaits market rebalancing, it is pursuing EOR technology and improving completion designs to enhance efficiency and production.
Iran’s oil minister has criticized French oil company Total for its decision to delay signing a contract to develop a gas field in southern Iran, saying that the reasons given by Total’s CEO were “unacceptable” to Tehran.
The company has initiated cost-saving measures and tackled drilling efficiency among other areas while working toward its goal of developing a remotely operated factory.
"The production of Block 15/06 will reach this year approximately 150,000 barrels of oil per day," Sonangol said in a statement, Reuters reported.
Mad Dog Phase 2, located in the Green Canyon area in the deepwater GoM, is a southern and southwestern extension of the existing Mad Dog Field, BHP Billiton said in the release.
Production is taking place through the Armada Olombendo FPSO vessel, which can generate up to 80,000 barrels of oil per day (bbl/d) and compress up to 3.4 million cubic meters of gas per day.