Exclusives

kapcars_opec_oil_price_study

KAPSARC study finds the cartel has the ability (at least in theory) to stabilize the price of oil.

North Field, Qatar Petroleum, Qatar oil and gas

The project would increase the North Field’s production by 10%, adding about 400,000 barrels of oil equivalent per day.

Total, United Arab Emirates, Abu Dhabi National Oil Co., ADNOC,  Abu Al Bukhoosh Field, Umm Shaif, Nasr, concessions, Lower Zakum

Knowledge gained at the Abu Al Bukhoosh Field (ABK) could be applied to other Abu Dhabi reservoirs, including the recently awarded concessions.

Stratas Advisors, oil production, Saudi Arabia oil production, Middle East oil

Saudi Arabia has embarked on a long-term strategy to expand its resource base and to increase recovery to 70% through the use of EOR technologies.

opec_shale_midas

The game has changed because of newer, more efficient technology.

Completion

High-efficiency HP/HT completion systems help operators deliver top performing wells.

All stages were successfully stimulated with acid, with clear pressure indications of packers setting, balls landing and sleeves shifting, the release said.

Drilling

Shelf Drilling, the world’s largest owner of shallow water rigs, made its debut on the Oslo stock exchange on June 25, but its shares fell 2.6% from their IPO price.

Saudi Energy Minister Khalid al-Falih expects a "reasonable and moderate" agreement next week when OPEC and non-OPEC oil-producing nations meet in Vienna, he told reporters in Moscow on June 14.

Iran is pursuing a plan to increase its oil output by 460 MMbbl within three years, oil minister Bijan Zanganeh said on June 9, according to SHANA, the news site of the Iranian oil ministry.

Norway’s Borr Drilling plans to buy five new jackup oil drilling rigs from an Asian shipyard for a total of $720 million, the company said on May 15.

An integrated system expands the potential of underbalanced CT drilling to solve complex challenges.

Enhanced Oil Recovery

The company plans to expand its use of carbon capture, use and storage technology to meet a sixfold increase in the utilization of CO2 for EOR over the next 10 years.

Middle Eastern oil and gas producers are now focusing on developing unconventional resources like heavy crude oil.

Saudi Aramco, R&D, EOR, IOR, oil, reservoir

Through its R&D arm, Saudi Aramco is working on various R&D projects in an effort to increase the recovery factor of reservoirs from 50% to 70%.

GlassPoint Solar, EOR, solar, oil

The oil industry’s demand for energy is growing rapidly, and solar can supply much of that power, GlassPoint Solar CEO Rod MacGregor said.

Pilot project in Oman reduces need for natural gas in thermal EOR.

Field Development

Shell has said it plans to focus on developing its gas joint venture in Iraq. Shell also sold its stake in West Qurna 1 to Japan’s Itochu Corp.

The United States plans to impose new sanctions on Iran after pulling out of a 2015 agreement between Iran and major world powers to limit Tehran’s nuclear ambitions.

France’s Total said on May 16 it may pull out of the Iran South Pars 11 (SP11) energy project in light of a decision by U.S. President Donald Trump to withdraw from an international nuclear deal with Iran.

As part of the agreement, Total and Shell as operator will develop several gas discoveries in the onshore Greater Barik area on Block 6 with respective shares of 25% and 75%.

According to the plan, the oil production of 480,000 bbl/d will be reached in 2020 and 800,000 bbl/d is expected in 2025.