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Corrosion can be considered one of the offshore oil and gas industry’s worst enemies.
Subsea power distribution systems will play a major role in the future of subsea field development projects. Once the Siemens Subsea Power Grid (SPG) is released to the market, the technology will increase tieback ranges massively and hike reserve recovery levels, the company told SEN.
Two gas development projects offshore the U.K. are gaining momentum.
Statoil is looking to make a decision this year on developing the Kayak oil discovery it made last week in the Barents Sea offshore Norway.
Technology has been a key ingredient to helping the oil and gas industry navigate life in oil and gas fields post-downturn.
When it comes to longer cycle investments in the oil and gas industry, offshore developments come to mind along with their hefty price tags.
Technology can be a blessing and a curse. Just ask any engineer that spends chunks of the work day navigating in and out of software programs while tackling engineering, procurement, construction and installation (EPCI) jobs.
When it comes to improving field economics, industry leaders say subsea boosting should be considered a “default solution” when developing hydrocarbon resources offshore.
Work on the next generation of all-electric subsea production systems is being advanced, albeit not swiftly, as there is a three-way competition amongst big hardware companies.
Hurricane Energy has already put in the hard yards for development options for its Halifax prospect, with engineering studies performed by Costain Upstream during an 18-month period to select the best concept.
With many traditional oil and gas contractors now diversifying into offshore renewables, the recent acquisition of Seaway Heavy Lifting will give buyer Subsea 7 a stronger foothold in this market, which it has targeted as a growing sector.
The downturn may have pushed oil and gas companies closer to technology as they move toward more cost-effective and operationally efficient subsea developments. But robotics could help lead to further improvements.