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The production cut deals are expected to mitigate the global oil supply glut to a certain degree. As a result, OPEC production in 2017 is expected to drop by 600,000 bbl/d.
The Brazilian state-owned company is working to increase the recovery factor at the Carmópolis oil field to 32%.
Babst Calland cites regulatory and consolidation challenges that beset operators in the Marcellus and Utica.
The combined gas reserves in the Gulf Cooperation Council (GCC) is about 1,500 Tcf, but much of the reserve is associated gas and expensive to extract.
CAPP survey shows that global customers favor Canada oil because of country’s climate change policies.
India and China are driving growth in energy consumption, BP report says.
The move has been widely seen as a step to enhance domestic production and to reduce dependence on imports of petroleum products.
In a Kazakhstan field, optimized ESP selection increased run life by more than 500%, and Lift IQ service reduced downtime by another 27%.
EOR and artificial lift systems are needed to rejuvenate the Cardenas-Mora and Ogarrio fields.
The number of non-sanctioned oil and gas projects has risen from 29 in 2015 to more than 100, according to a report.
The FLNG development will be the first offshore Africa and the world’s third.
Peak oil demand will emerge through a supply gap by 2022 that will be difficult to bridge, the CEO of political risk firm Eurasia Group said.