TOPICS OF INTEREST
Oilfield Construction Giant McDermott Files For Bankruptcy Protection
The firm has outlined a restructuring plan that will see it sell off subsidiaries and erase more than $4.6 billion in debt.
Nine Months After Discovery, Eni Starts Offshore Angolan Oilfield
The Italian oil and gas company used a “fast track” model to get the first production well flowing from the Agogo field.
Eni, ADNOC Sign Carbon Capture Agreement
The companies will focus on research and development to reduce CO2 emissions and promote the circular economy.
Israel Starts Exporting Natural Gas to Egypt
Landmark deal called most significant since 1979 peace treaty.
Oil and Gas Discoveries Reach Four-Year High in 2019: Rystad
A total of 12.2 billion BOE was discovered worldwide in 2019—the highest volume in 4 years, with offshore regions dominating the list of new deposits.
Talos Shares Zama Reserves Audit Amid Unitization Negotiations With Pemex
Talos is hoping to retain its operatorship of the major discovery it made in 2017 offshore Mexico after a reserves audit confirmed the reservoir is shared between two offshore blocks.
BP Makes $625 Million Exit From North Sea Assets
The deal is part of BP’s plan to divest $10 billion in the North Sea so that it can focus on developing core growth areas and construct more cost-effective subsea tiebacks in the region.
Discovery Suggests Guyana Bounty Extends Offshore Suriname
A significant discovery of oil off Suriname increases the odds that major oilfields off Guyana will extend across that international boundary.
Egypt Awards Oil Majors First Red Sea Blocks
The Arab world’s most populous country has awarded a string of concessions in a bid to become the region’s next major supplier of natural gas.
Massive Gas Field Begins Production Offshore Israel
The largest natural gas field in the rising Eastern Mediterranean region is now flowing after being discovered a decade ago.
Global Deepwater Production Hits 10 Million BOE/D
The depth of the world’s offshore projects has steadily increased over the past 30 years—and so has its production base. The growth trend will continue thanks to new fields offshore Brazil, Guyana, and the US.
Guyana Hits New Milestones
First oil from the 120,000-B/D Liza Destiny FPSO is flowing ahead of schedule.
Rystad Warns of Gloomy Start to 2020 for Oilfield Service Firms
Reduced investment in US shale will continue to weigh down the global oilfield services market through 2020.
BP Confirms Further Gas Potential Offshore Mauritania, Senegal
Three appraisal wells drilled this year—GTA-1, Yakaar-2, and Orca-1—targeted nine hydrocarbon-bearing zones, encountering gas in high-quality reservoirs in all zones and yielding a combined 160 m of net pay.
Total to Gain Blocks, Extend Production Licenses Offshore Angola
Total has agreed to acquire interests in two blocks in the offshore Kwanza Basin from Angola’s state-owned Sonangol and has received an extension on its offshore Block 17 production licenses.
Shale, Tight Oil Investments to Fall 12% in 2020; Global Deepwater Rising
Lower oil prices and capital discipline are expected to result in a double-digit drop in shale and tight oil spending, while deepwater momentum is seen continuing. This comes as “massive investments” will be needed in the next decade to meet growing oil demand.
Chevron Sanctions First Deepwater Ultra-High-Pressure Development
The Anchor development in the US Gulf of Mexico is the first ultra-high-pressure project requiring 20-ksi operating pressure to reach a final investment decision.
Tullow Oil CEO, Exploration Director Resign Amid Lower Production Outlook
The resignations come as the company makes downward revisions to its production guidance after a disappointing performance from its TEN and Jubilee fields offshore Ghana.
Apache To Deepen Suriname Exploration Well, Conduct Further Tests
Industry awaits the results of Apache’s Maka Central-1 exploratory well offshore Suriname, where high expectations follow the rapid exploration success of neighboring Guyana.
Value of ROV Data Extends to Decommissioning Strategy
The complete paper describes the potential global scientific value of video and other data collected by ROVs.
Digital Twins Mature in the North Sea
A proving ground for the use of digital twins has emerged in the North Sea. There, operators Total, Aker BP, and Shell have each developed and deployed twins that they expect to pay big dividends.
ConocoPhillips Leaning on Conventionals Near-Term, Unconventionals Long-Term
Most of ConocoPhillips’ oil and gas production by the end of the next decade will come from its unconventional operations. But, for the near-term, the Houston independent will rely on conventional assets as it seeks to keep spending in check, decline rates low, and cash flow on the rise.
CNOOC Names CEO, Increases Bohai Oil Production
Xu Keqiang took the reins as CEO of the Chinese national oil company on 19 November. Meanwhile, more oil is flowing from the offshore Caofeidian 11-1/11-6 oilfield project.
Equinor, Total, Aker Launch Subsea CO2 Injection R&D Project
Before the dream of a “subsea factory” can come true, a group of North Sea companies will need to see if the required technology is economically feasible to build.
Petrobras Starts Production From Pre-salt Berbigao Field
P-68 is Petrobras’ fourth FPSO to begin operations this year following the startups of P-67 at the Lula field and P-76 and P-77 at the Buzios field.
West Mira Semisubmersible Deploys Hybrid Power Plant
By using the four converter-battery systems, the operator estimates it will be able to reduce the runtime of the rig’s on-platform diesel engines by 42%, cutting CO2 emissions by 15% and NOx emissions by 12%.
Another Brazilian Auction Fails To Draw Bids from Majors
Chinese firms stepped in for the majors in Brazil’s two underwhelming offshore auctions.
Petrobras Awarded Búzios, Itapu Blocks in Brazilian Auction
Just three firms submitted bids in an auction many are deeming as a disappointment for Brazil.
Chevron to Sell Stake in Azerbaijan’s Giant ACG Field
The US major has had a stake in the field since it started production in 1997. It produced 584,000 B/D of oil last year.
US Could Make Hundreds of Millions More from Offshore Leasing, GAO Says
GAO believes BOEM often undervalues its tracts offered to operators in offshore lease sales.
Hess To Tie Back Deepwater US Gulf Oil Discovery
The Esox-1 well encountered 58 m of high-quality oil-bearing Miocene reservoirs and will be tied back to Tubular Bells production facilities.
Power-From-Shore Expanding to Support Norwegian Offshore Production
Offshore facilities are typically powered from onsite gas turbines but efforts to become “carbon efficient” are pushing oil and gas companies toward an onshore alternative.
BP Discovers Gas with Orca-1 Well Offshore Mauritania
The Orca-1 and Marsouin-1 wells have derisked up to 50 Tcf of gas initially in place from the Cenomanian and Albian plays in the BirAllah area, more than sufficient to support a world-scale LNG project, partner Kosmos Energy said.
Eni, EGPC Fast-Track Gulf of Suez Appraisal Well
The Sidri 36 appraisal well confirmed the downdip westward extension of the Sidri 23 discovery announced last July by the Italian major.
ONGC Makes Discoveries in Colombia, Brazil
India’s ONGC reported an oil find in Colombia’s Llanos Basin as well as a gas and oil discovery in Brazil’s deepwater Sergipe Alagoas Basin.
Premier Oil Makes Gas Strike in UK North Sea
Development of the Tolmount East discovery will be fast-tracked, the operator said.
EIA: US Gulf Oil Output To Continue Record Pace
New projects coming on stream will boost US gulf oil output to 1.9 million B/D in 2019 and 2 million B/D in 2020, EIA projects.
Neptune Energy to Buy Edison E&P’s North Sea Assets
The deal is contingent on Energean Oil and Gas completing its acquisition of Edison E&P, announced in July.
Chevron, Repsol Awarded Most Blocks in Brazil’s 16th Round
The round included a near-$1 billion signature bonus on a Campos Basin block awarded to a Total-led consortium.
BP Adds, Shell Subtracts Oil and Gas Resources
Heavy deal-making since 2015 by the two majors has resulted in very different upstream portfolios.
Strong Flow Rates Seen From Dorado Appraisal Well Off Australia
Santos Energy said its second and final flow test from the Dorado field suggests potential flow rates of around 30,000 B/D from each Caley reservoir production well.
Transocean Deploys Hybrid Floating Drilling Rig Off Norway
The hybrid power technology cuts fuel consumption and boosts the dynamically positioned rig’s station-keeping reliability, the drilling contractor says.
For Subsea Technology, “Necessity is the Mother of Invention”
Subsea advancements in the works include longer tiebacks, an underwater drone that lives on the seafloor, and a robotic manifold capable of actuating dozens of valves. Do these new capabilities, born of necessity, signal a sea change in industrywide technology development?
BP Appraisal Well Proves “World-Scale Gas Resource" Offshore Senegal
The Yakaar-2 appraisal well encountered 30 m of net gas pay in a similar high-quality Cenomanian reservoir as the Yakaar-1 discovery well drilled in 2017.
ExxonMobil, Tullow Lift Guyana Offshore Discovery Count to 16
ExxonMobil has now made 14 discoveries offshore Guyana, while Tullow's announcement of its second find in the basin comes just a month after reporting its first.
North Sea Still a Big Part of Total’s Future
Recent exploration success in the North Sea has motivated Total to invest some $10 billion in the basin over the next 5 years.
Innovative Design and Execution Lead to Successful Grand Banks Platform Operations
The Hebron platform was successfully installed on the Grand Banks offshore Newfoundland and Labrador in June 2017. It consists of a single-shaft concrete gravity-based structure (GBS) supporting an integrated drilling and production topsides.
Evaluation of a Riser After 10 Years of GOM Service Life
As part of an effort to evaluate existing riser systems, an operator launched an inspection and testing program to investigate risers retrieved following well abandonment after a service life of nearly 10 years in the Gulf of Mexico.
Colombia’s New Ambitions Include Caribbean and Shale Development, But Are They Achievable?
Colombia is walking a thin line between becoming another fading petroleum province and Latin America’s next big success story. Its aces in the hole: unleashing its nascent offshore and unconventional sectors.
Integrating Fractional Flow Into Reservoir Surveillance Improves GOM Production
A case study in the deepwater Gulf of Mexico in which pressure transient analysis, fractional flow, and production logging tools were integrated to identify correctly the cause of, and execute an effective remedy for, a well’s productivity deterioration.
Extra-Long Subsea Tiebacks Reduce Deepwater Development Costs
The complete paper presents and discusses the authors’ technology-development program regarding very-long oil-tieback architectures (50–100 km) and enabling technologies.
Equinor, YPF To Explore Block Offshore Argentina
The firms are now partners on multiple blocks in the North Argentina Basin.
BHP, Anadarko Among Leaders in Latest US Gulf Lease Sale
Australia’s BHP Billiton and the recently acquired Anadarko Petroleum submitted the largest dollar totals of high bids in US Gulf of Mexico Lease Sale 253.
Third Oil Spill Reported Off Newfoundland and Labrador
Production from the Hibernia platform was shut down again on 17 August after its second oil spill in a month, while Husky Energy began to ramp up output from the White Rose field following the largest-ever spill off Canada’s easternmost province.
Tullow Joins Guyana Success Story With Jethro Discovery
The discovery marks London-based Tullow’s first operated contribution to a long list of discoveries since 2015 in the emerging petroleum province.
Murphy Oil Greenlights US Gulf Floating Production Facility
Anchored by the Khaleesi-Mormont and Samurai fields, the King’s Quay FPS will receive and process up to 80,000 B/D of crude oil.
New OGA Wells Strategy Focuses on Improving Economics of UKCS Oil and Gas
The strategy supports the Maximise Economic Recovery from UK Oil & Gas Strategy and Vision 2035, whose goal is to achieve £140 billion additional gross revenue from UKCS production by that time.
JIP Prepares for Final Shallow-Water Test of Subsea Power System
The complete paper highlights elements of the technical development and an overview of the primary building blocks of the system, and presents in detail some of the challenges in developing, designing, and testing the control system.
Boosting Uncovers True Value of Subsea Assets
The first subsea multiphase boosting system was installed in 1994. Since then, it has grown into a technology with a global track record.
Petrobras to Sell Shallow-Water Campos, Santos Basin Fields
UK operator Trident Energy is entering Brazil while Australian firm Karoon Energy is expanding its position in the country. Both will try to boost output from already-producing assets.
Eni Appraises Angola Discovery, Makes Another Off Vietnam
The Italian operator reported positive appraisal and exploration results from wells drilled some 10,000 km apart.
Dominican Republic’s Offshore Future Begins With First Bid Round
The Caribbean nation hopes the auction will lead to at least two exploration projects in a region that has become increasingly attractive thanks to new discoveries and investments made in neighboring countries.
Aramco Advances 550,000-B/D Expansion of Marjan, Berri Fields
The world’s largest oil producer has awarded $18 billion in engineering, procurement, and construction contracts as part of its Marjan and Berri expansion projects.
US Crude Production Tops 12 Million B/D in April
The new milestone was reached less than a year after the country surpassed 11 million B/D last summer, and is driven by activity in the Permian Basin and new fields in the Gulf of Mexico.
Equinor To Cut Lundin Stake, Add Johan Sverdrup Interest
The Norwegian operator will increase its ownership of the giant Johan Sverdrup field before the field commences oil production this November.
Oil Begins Flowing from Eni’s Area 1 Offshore Mexico
Early production from Area 1 is the first output from an international operator in Mexico since energy reforms were implemented earlier this decade.
LNG at a Crossroads
In its first 50 years, LNG has become the world’s fastest-growing gas supply source and is now part of an upheaval in the global energy market. Today, the sector stands at a crossroads, and the industry must adopt new thinking to address current and future needs of buyers, sellers, and consumers.
2019 SPE Offshore Europe Explores the Industry’s License To Operate
The biennial SPE Offshore Europe conference will explore a diverse set of topics, including the application of digital technologies and preparing for a low-carbon energy future and ongoing work around standardization and decommissioning.
PTTEP Discovers Giant Gas Deposit Offshore Malaysia
Energy consultancy Wood Mackenzie estimates the find holds some 2 Tcf of gas, making it this year’s seventh-largest discovery worldwide.
Zama Appraisal Program Offshore Mexico Ends With Positive Results
Operator Talos Energy now believes Zama’s gross recoverable resource lies in the upper half of its pre-appraisal estimate of 400–800 million BOE. The consortium is working toward a 2020 final investment decision on the project.
W&T Offshore To Acquire ExxonMobil’s Assets Off Alabama
The deal consists of stakes in nine shallow-water producing fields covering 108,000 gross acres in 10–50 m of water.
Hurricane Hits First Oil From Basement Reservoir in North Sea
This new development is the first to recover commercial quantities of oil in the UK from reservoirs that are generally considered non-productive.
More Tweaks Than Transformation in Rewrite of Well Control Rule
The new well control rule is evidence that memories of the Macondo blowout remain a powerful force for caution. Despite the rhetoric on both sides of this hot-button issue suggesting big changes, the final changes were incremental.
Dorado Discovery Off Australia Is Bigger Than Expected
After drilling the Dorado-2 appraisal well, operator Santos Energy now expects a big increase in gas resources from predrill estimates, adding to one of the largest oil resources ever found on Australia’s North West Shelf.
Thirty Firms Awarded Blocks in UK’s 31st Offshore Licensing Round
The round marked a continuation of a recent trend on the UKCS in which lesser-known firms and newcomers have gained stature, replacing more-familiar, bigger operators that have pared down their North Sea positions.
Eni Tallies Fifth Oil Discovery in Angola Deepwater Exploration Campaign
The Agidigbo find follows the Kalimba, Afoxé, Agogo, and Ndungu discoveries. The five discoveries combined hold an estimated 1.8 billion bbl of light oil in place.
Interwell EOR Pilot Proves Advantages of Polymer Flooding
This paper discusses an enhanced-oil-recovery (EOR) polymer-flood pilot at the Captain field in the UK North Sea during 2011–2013.
Malaysia’s Petronas is Looking Near and Far for Gas and Oil
The state-owned firm is looking within its home country, around Southeast Asia, and to the Americas—including shale—in an effort to maintain its forecast average yearly production of 1.7 million BOE/D over the next 5 years.
Murphy Oil to Buy Deepwater US Gulf Assets for up to $1.625 Billion
The El Dorado, Arkansas-based Murphy has quickly found a home for some of the cash it will receive from the sale of its Malaysia business. The company has been rapidly expanding its US gulf footprint while simplifying its portfolio and targeting more oil.
Chevron Sells UK North Sea Assets
There is a new, big independent in the UK North Sea, Delek Group. Its UK North Sea arm, Ithaca, bought most of Chevron’s holdings in the sector in a $2 billion deal.
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