Exclusives

Kuwait Oil Co., Jurassic Gas fields, natural gas, consumption, Kuwait

Exploration activity targeting Jurassic carbonate reservoirs in North Kuwait has led to the discovery of six major tight gas fields in the last decade.

BP, Woodside, gas, offshore, Trinidad, Australia, Persephone, Juniper

The latest startups mean BP has brought five of its seven major 2017 projects onstream.

Cobalt, asset sales, Gulf of Mexico, Angola, North Platte

Cobalt hopes to finalize the bidding process for its GoM assets in September as it continues to resolve concerns with its Angola assets sale.

Service companies have been battered by the downturn but are keeping their sights on upcoming market needs.

Despite challenging economics, offshore EOR offers substantial returns.

Completion

International Highlights

System helps achieve production and economic goals.

Technologies help solve the engineering challenges of increasing stage counts and proppant volumes in sliding sleeve completions.

Anadarko, D-J Basin, completions, design, oil and gas, shale, Al Walker, Brad Holly

The company has experimented with using less sand and more fluid along with tighter spacing.

Libra, a giant oil field located in Brazil’s presalt area, will boost many business opportunities over the next years.

Drilling

Drillers have added rigs in 56 of the past 63 weeks since the start of June 2016. The rig count is an early indicator of future output.

The current U.S. oil and gas rig count is 954, according to Baker Hughes. That compares with an average of 509 in 2016 and 978 in 2015.

The world’s biggest oilfield service provider Schlumberger took a 20% stake via a private placement in the company managed by former Seadrill executives in March.

U.S. shale oil producers expect to pump at least 160,000 more barrels per day this year than previously announced, according to a Reuters review of second-quarter regulatory filings.

Chairman Manuel Pangilinan told reporters he was looking to discuss plans to resume PXP’s stalled Reed Bank project in the hotly contested waterway with the Philippine government.

Enhanced Oil Recovery

Operators are finding value in CO2 recoveries.

Chemical-free water treatment process retains polymers to boost return on investment in production-enhancing flooding.

Companies are finding success and value in late-life recovery methods.

Investing in EOR research could result in long-term payoff.

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%.

Field Development

Arrival of massive FLNG vessel off Australia’s coast signals start of race between Ichthys and Prelude fields.

The startup has been slightly delayed from last year’s projection of the end of June; however, the Hail oil field operated by Cosmo’s joint venture (JV) is set to reach full output by the end of this year, company officials said.

 Israel Chemicals, Bazan Group Oil Refineries and OPC Energy signed agreements this week to buy 39 Bcm of gas from the Karish and Tanin fields over 15 years, or 2.6 Bcm annually.

The joint venture company will build the concrete gravity structure for the development’s fixed drilling platform.

Gas will be produced in East Java field.