An aging infrastructure, economic viability of small offshore fields and the need for more qualified people to operate assets are among the country’s challenges, according to a petroleum geosciences consultant.
The report comes as the oil and gas industry continues to endure bleak market conditions with low commodity prices that have caused companies to cut spending and reduce drilling activity.
Egypt's state gas company EGAS said in a statement it had awarded one license to Britain's BP and one to Italy's Edison. A consortium involving BP and Eni's Egyptian subsidiary had also picked up a block as had another consortium involving Eni, BP and France's Total.
With subsea operations continuing to push the boundaries to meet the market’s increasingly stringent requirements, electric ROVs are narrowing the capability gap on their hydraulic cousins.
A consent decree filed Oct. 5 details the settlement concerning the Deepwater Horizon accident. The public has until Dec. 4 to comment on a proposed restoration plan.
Refracking has been met with enthusiasm—especially when it works—and skepticism, but in order to move forward, the industry needs a large-scale refracking program and more investment IHS says.
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.
Petrofac has ended its contract with ZPMC due to concerns with ZPMC’s performance regarding construction of the proprietary design Petrofac JSD 6000 deepwater multipurpose offshore vessel, Petrofac said.
The contract awarded to Kvaerner Verdal covers engineering, fabrication and construction of the steel jacket for the Johan Sverdrup processing platform. The contract awarded to Dragados Offshore S.A. covers engineering, fabrication and construction of the steel jacket for the Johan Sverdrup utility and accommodation platform.
Installation of two jackets in the Bul-Hanine Field offshore east of Doha has been scheduled to be completed by December 2016 with the remaining two scheduled for completion in July 2017. The total weight of all four structures combined is 3,495 tons.
The contract is for 12 mooring line subsea monitoring sensors and ancillary topside equipment, which have been enhanced to meet specific client requirements, Pulse said in a news release.
Included in the service are two subsea production tie-backs to the FPSO vessel. The Stones Field is located in the Walker Ridge area in the GoM at a water depth of 2,930 m along the pipelay route.
For the upstream sector successfully linking diverse datasets are among the keys to unlocking potential benefits of the Internet of Things, a report says.
For the oil and gas sector, this could mean making drilling adjustments on the spot. It could also mean collecting data from various sources, analyzing it and using that knowledge to grow production and revenue.
For the oil and gas sector the threat remains, but the methods are the same, experts say.
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.
Ely's world-class reservoir stimulation and completion consulting services will be packaged with Flotek’s CnF customized completion chemistries for clients that purchased CnF chemistries directly through The Flotek Store.
JetStream was recently used in a 6.5-in. intermediate section in the North Sea that was drilled to 10,446 ft total depth through soft, porous limestone.
GCDT fits fully into Prysmian’s expansion strategy in subsea umbilicals, risers and flowlines and complements its product range. The portfolio of protectors will be enhanced, the company added.
The technology provides internal alternate flow paths, called shunt tubes, in the downhole tool to gravel pack the producing sections of a well, ExxonMobil Upstream Research Co. said in a news release
Vorpal's Drill2Frac helps optimize fracturing operations through the optimal placement of perforation clusters. Enventure’s expandable ESeal Refrac Liner provides mechanical zonal isolation of existing perforations.
Most parts come from onshore rigs, but Noble removed a helipad and crew cabin’s floor from a retiring rig. These parts then improved an offshore rig contracted to Hess, Reuters said.
The order arrived from a supermajor operator. Deep Down will deliver new systems and equipment for installation in the Gulf of Mexico in 2016--the largest order in its history.
The reduction in the week ended Oct. 2 brought the total rig count down to 614, the least since August 2010. In the previous four weeks, drillers cut a total of 35 rigs, oil services company Baker Hughes Inc. said in its closely followed report.
The central processing facility, understood to be the world’s largest semisubmersible, was officially launched from the offshore floating dock at the Samsung Heavy Industries shipyard in Geoje, South Korea, where it has been under construction since 2013.
The unfolding global story of FLNG is being spearheaded by the Southern Hemisphere. While most of the noise so far has been made by the operators of Australia’s megaprojects, it is Malaysia that has been quietly setting the pace.
Majority of 200 jobs to be cut will be in the Adelaide headquarters. Recently, 565 jobs were cut. Santos is streamlining eastern Australia business, including Cooper Basin operations, Reuters said.
The deal underlines investors still see value in North Sea related businesses, despite a slump in oil prices and high operating costs.
In response to the offer, the board formed a special committee comprised of the Lord Clanwilliam, who serves as chairman; Dr. Alexander Shokhin and Dr. Igor Belikov to negotiate on behalf of the board with assistance from advisers. The offer comes after a proposed merger with Schlumberger collapsed.
The gas leak occured at the Sihil A platform in the Gulf of Mexico. No injuries were reported.
Oil companies have slashed investments over the past year in response to a halving of crude oil prices since mid-2014 and soaring development costs.
DEA Group and LetterOne didn’t give financial details, but a LetterOne spokesman confirmed the sale. In April, Britain's Energy Ministry gave Fridman six months to dispose of fields, Reuters said.
In 2003, David Glendinning became president of Teekay Gas Services division. Prior to joining Teekay, he worked at sea on oil tankers for 18 years. Glendinning is a Master Mariner.
Boyaci will be responsible for working directly with clients as well as alongside members of the sales, engineering and marketing team to support company-wide growth opportunities.
The news is in line with the company’s succession planning strategy. AWE said it has begun a search for a new CEO.
Most recently, Matt McIntosh was the Chevron key account manager for FMC Technologies Inc., handling account strategies, managing regional account teams and leading all sales efforts.
Brazil prosecutor Delton Dallagnol, part of a task force overseeing Brazil's largest-ever corruption investigation, said the 6.2 billion reais ($1.6 billion) in corruption-related losses the company wrote off in April was "just the tip of the iceberg."
The bill sponsored by Rep. Joe Barton, R-Texas, passed the House of Representatives 261 to 159, failing to reach the 290 votes necessary to overturn a presidential veto, Reuters reported.
Scotland has placed a moratorium on underground coal gasification, a form of unconventional gas extraction, adding to a ban on shale gas that it imposed in January.
Following negotiations, Tullow has regained its 7.5% stake in the Onal Complex producing fields and the Ezanga block (formerly the Omoueyi exploration block). In addition, Tullow said it has been granted license extensions in the Onal Complex fields until 2034 and has gained access to two small oil discoveries made within the Ezanga Block in 2014.
Yields at Hassi Rmel, Hassi Messaoud, Berkine and El Merk fields increased, a presidential statement said, Reuters reported. By 2019, hydrocarbon output could reach 224 million tonnes of oil equivalent.