Egypt has emerged from the turmoil of the Arab Spring to reestablish itself as the Mediterranean’s most attractive offshore province.
The release of floating oil volumes will introduce additional supply into an already saturated market and exacerbate the number of unsold Mediterranean, North Sea and West African cargoes in the Atlantic Basin.
Multiple political and military trends, along with the rise in U.S. crude oil and natural gas production, are occurring at the same time. And that makes for an uneasy situation, Tom Petrie says.
The bill has been delayed in parliament for six years due to political wrangling and opposition by international energy companies against proposed tax and royalty terms, deterring investment into Africa’s top oil producer.
In a low-cost environment, operators need to watch every penny. New technologies are helping them save money and improve production.
Understanding drainage volume and improved permeability of stimulated rock is essential to forecasting production, according to MicroSeismic Inc.
This latest patented invention relates to fluid treatment and, more particularly, to an improved treatment apparatus for destroying aerobic and anaerobic bacteria in fluids used in oil and gas recovery and conditioning of said fluid for reuse, Ecosphere said in the release.
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 process platform will work to ensure stabilization of the oil and processing into rich gas, while the riser platform will serve oil and gas exports, water and gas injection, as well as any future connections, Statoil said.
Critical project equipment for offshore operations will be transported and stored by cargo carrying units under the seven-figure contract. Brazil plans to more than double production by 2020.
“We expect that the resource plays beneath the Blythe and Cronx/Elgood fields are larger than first anticipated, and with additional reservoir understanding we can more than double our proven reserves, which are currently 3.0 MMboe,” IOG CEO Mark Routh said.
The contract has a two-year term starting June 15, with an option to extend, and is worth up to A$100 million (US$77 million).
The scope of the new contract includes the supply of the second of three planned batches of subsea production trees and ancillaries. Deliveries are expected to commence in 2016, according to the news release.
The industry can benefit quickly by approaching Big Data from the place of maximizing value by minimizing complexity.
Using technology to generate, process and analyze data can lead to improved operations.
With big data and predictive analytics, operators can use production surveillance, comparing predictions to new actuals to determine how a particular oil or gas asset is performing. In response, adjustments can be made to improve production and overall operations.
Asset Guardian Solutions specializes in protecting companies’ process critical software assets.
Under the five-year contract, BP said it will offer courses next year in a new-state-of-the-art Maersk Training facility in Houston.
Manufacturing and engineering firms see the first green shoots of activity improvement as the industry retools for the future.
The TAM FastSwell technology utilizes a proprietary process that alters the geometric design of the elastomer to provide ultra-fast, but predictable and controlled swell rates for challenging downhole conditions.
Problematic areas have included perforation issues, loss of fracture length, and sometimes wellbore connectivity.
They will be delivered in second-quarter 2019 and first-quarter 2020, respectively. The delivery dates were delayed after the company amended its construction contracts with Sembcorp Marine's subsidiary, Jurong Shipyard.
A wealth of oil and gas has contributed to the world’s bountiful supplies and lower oil prices, which in turn have impacted budgets and spending both onshore and offshore.
Board estimates the deal’s total value at about US$750 million. Transaction is scheduled to close within one week. West Polaris is a sixth-generation ultradeepwater drillship contracted to ExxonMobil in Angola.
Rivals Ensco Plc, Transocean Ltd. and Seadrill Ltd. are interested in Pacific Drilling. Five of Pacific’s seven vessels are working offshore Nigeria and in U.S. Gulf of Mexico, Bloomberg said.
Mooring cables for Chevron’s Big Foot tension leg platform recently sank in the U.S. Gulf of Mexico, Bloomberg said. ROVs roam seafloor while production is now delayed from 200MMbbl field.
BETA, which focuses on the topsides, utilities, refineries and facilities sector, employs about 100 people across its Canada, U.S., China and Malaysia locations, a news release said.
Starting July 1, Sembcorp Marine will be one brand focusing on four key capabilities: rigs and floaters; repairs and upgrades; offshore platforms; and specialized shipbuilding, a news release said.
Key changes involve the development and production Norway and technology, projects and drilling departments. There will be one new research and technology unit. Overall project development will be simplified.
Norwegian Shipowners’ Association represents employers in mediation with Industri Energi union, DSO union members. Without deal, workers on two Teekay-owned ships in Knarr and Varg fields will strike, Bloomberg said.
Qatar Petroleum plans overseas expansion amid less oil output after restructuring, foreign investment sector takeover. Company pumped 650Mbbl/d of crude in May, Bloomberg said. Qatar is largest exporter of LNG.
Tim Cutt’s title will become president, petroleum, effective July 1, and the changes will allow him to focus on growing the value of the company’s petroleum business.
Joar Welde said Peter Jenkins will now oversee 4Subsea’s strategy of delivering solutions that lower opex and capex on subsea well systems and production riser systems.
Nicolas de Coignac, president, North America, said the personnel appointments will streamline synergies between drilling, accessories, service and other operations, benefiting the France-based tubular solutions company’s North American customers.
The decision followed Ashley Heppenstall's decision to step down from the positions with the company.
Prior to joining Apache, Rodney J. Eichler was vice president of exploration for Axem Resources LLC in Denver. He also worked for Tenneco Oil Co.
Yuval Steinitz, minister of national infrastructure, energy and water resources, presented proposed guidelines for Israel’s offshore gas reserves, Bloomberg said. Development of one of the largest deepwater discoveries could result.
Anadarko could pay more than $1 billion in civil fines, and BP could pay $13.7 billion, after U.S. Supreme Court rejected appeals related to Deepwater Horizon oil spill, Bloomberg said.
Local officials in Lancashire County, England, rejected Cuadrilla Resources Ltd.’s plans to drill shale gas at Preston New Road site, Bloomberg said. Roseacre site drilling plans were rejected last week.
Nigerian National Petroleum Corp. lost regulatory authority by President Muhammadu Buhari in an anti-corruption move, Bloomberg said. During recent elections, Buhari’s congress said the company would be broken into units.
Top American companies including ExxonMobil Corp. stayed out of greenhouse-gas emissions initiative. The U.N. told six European oil majors to plan phasing out of fossil fuels by 2100, Bloomberg said.