DEEPWATER
Offshore Driller Noble Files Bankruptcy To Shed Debt of $3.4 Billion
Citing impacts from COVID-19, Noble Corp. is entering into a prearranged agreement with its bondholders that will give it a fresh start with a new line of credit.
A New Offshore Investment Cycle Is in the Making
The amount of oil and gas resources approved for development last year surpassed 20 billion BOE, the highest level seen since 2011. Telltale signs have emerged that we are entering a new offshore investment cycle.
Chevron Sanctions St. Malo Waterflood Project
The project aims to contribute an estimated ultimate recovery of more than 175 MMboe from one of the company’s signature deepwater projects in the US Gulf of Mexico.
FPSO for Liza Phase 1 Arrives Offshore Guyana
Following a 42-day journey from Singapore, the Liza Destiny has arrived at the Stabroek Block offshore Guyana, where it is expected to produce up to 120,000 gross boe/D from the ExxonMobil-operated deepwater project upon startup.
LLOG Starts Production at Buckskin Project
Phase 1 production from the deepwater US Gulf of Mexico field is expected to reach 30,000 BOPD. The field contains an estimated 5 billion bbl of oil in place.
Lessons Learned From the Big Foot Mooring Incident
After suffering major setbacks, Chevron’s massive Big Foot project finally achieved first oil last November in the US Gulf of Mexico. With the setbacks in the rear-view mirror, project personnel spoke about the challenges.
Venture Capital Fuels the Digital Deepwater Oil Field
The technologies born out of innovative ideas have been critical for advancing deepwater assets in the past, and venture-capital investment helps incubate risk-taking companies developing those technologies. With digitization becoming a greater focus in industry, what role will venture capital play?
BP and Partners Sanction $6-Billion Platform for Giant Deepwater ACG Field in Caspian
BP and partners have sanctioned the Azeri Central East project, the next stage of development of the giant Azeri-Chirag-Deepwater Gunashli oilfield complex in the Azerbaijan sector of the Caspian Sea.
Total Begins Full-Field Production at Kaombo
The startup of a second FPSO will add 115,000 BOPD to the deepwater project offshore Angola, bringing overall production capacity to 230,000 BOPD.
Aker Energy Submits Plan To Develop Oilfield Offshore Ghana
If sanctioned and developed, the deepwater Pecan field would be Ghana’s fourth producing offshore field. First oil is expected 35 months after sanction, which could come as early as this year.
Are Deepwater Projects Due for a Revival?
The oil price downturn spawned a lull in deepwater enthusiasm, but better project execution and reduced project lead times have helped operators achieve lower costs and better returns. What does the landscape for deep water look like in the near term? Will operators get more involved?
LLOG Awards McDermott Subsea Tiebacks Contract for Stonefly in Gulf of Mexico
LLOG’s subsea pipeline tiebacks and structures connecting the Stonefly development to the Ram Powell platform are scheduled to be installed in Q3 2019.
BP Sanctions Atlantis Phase 3 in Deepwater Gulf of Mexico
The decision comes after the company’s discovery of an additional 400 million bbl of oil in place at Atlantis, one of the largest fields in the gulf.
Trafigura Submits Permit for First US Deepwater Oil Port
If approved by the US Department of Transportation, the port facility would allow VLCCs and other tankers to directly load cargo, potentially removing a major hurdle for US crude oil exports.
Total Begins Production at Kaombo Deepwater Project
Sanctioned in 2014, the project is the largest deepwater offshore development in Angola. It will produce an estimated 230,000 BOPD from six different fields at peak.
Oil and Gas Projects Worth $110 Billion are Coming Off the Back Burner
The oil and gas industry has vastly accelerated the pace of approving investments for new projects over the past 18 months. New facilities worth more than $110 billion have been approved for development since the beginning of 2017 vs. only $50 billion in 2016.
Solving Deepwater Challenges in a Low Price Environment
Construction costs, contractor involvement, flow assurance, and the integration of new technologies created to improve production are some of the deepwater challenges exacerbated by the current low price environment.
Despite Imminent Project Delays, Deepwater Spend To Total USD 210 Billion From 2015 to 2019
Operators have announced reduced budgets and delayed deepwater project sanctions. Despite these reductions, the long term outlook is for increased deepwater spending.
SPE Delta Section To Cohost Deepwater Technical Symposium
The SPE Delta Section will cohost its annual Gulf of Mexico Deepwater Technical Symposium in New Orleans in August. A variety of topics on deepwater exploration and production (E&P) will be presented.
Design and Performance Testing of a Subsea Compact Separation System for Deepwater Applications
Because of extremely high internal and external pressures, unconventional separator designs must be used in ultradeepwater applications. A major operator has qualified a number of subsea technologies covering a wide range of operating conditions and fluid properties that encompass its subsea portfol
How Much Would You Spend To Develop a New Technology?
The value of new technology, and its ROI, is examined. Understanding the value proposition is not a trivial matter. When investing in facilities technologies, we have traditionally looked to invest in those that will reduce Capex or Opex. But what about niche technologies?
Global Subsea Hardware Market Forecast To Total USD 117 Billion From 2014 to 2018
As production from mature basins onshore and in shallow water declines, the development of deepwater reserves has become vital. Consequently, production and Capex are expected to rise.
Offshore Construction and Installation Innovations Aim for Deeper Waters
During OTC in Houston last month, offshore construction capabilities drew a room-capacity audience to a technical session about advances in deepwater construction techniques and vessels, including pipelaying and heavy lifting.
Deepwater Spend Forecast to Surge from 2014 to 2018
Deepwater capital expenditure is expected to more than double compared to the previous 5 year period. Douglas-Westwood also expects a continued trend toward exploration in ultradeepwaters in depths greater than 2000 m.
Reassessment of Multiphase Pump on Field-Case Studies for Marginal-Deepwater-Field Developments
This paper focuses on the applicability of subsea processing technology employing multiphase pumps to develop marginal fields commercially. Analytical methods were used to evaluate the pumps, and the results were validated through case studies in specific fields.
Flow Assurance -Hydrates and Paraffin Management
As environments become more challenging, the importance and complexity of flow assurance has evolved. To effectively manage flow assurance, oil and gas operators must take a holistic approach, particularly when working in deepwater offshore environments.
Implementing a Deepwater-Pipeline-Management System
There are few deepwater-pipeline operators with expertise in pipeline repairs. This paper describes a strategy developed and implemented on deepwater-pipeline intervention, based on a deepwater operational experience built over a decade.
Treating and Releasing Produced Water at the Ultradeepwater Seabed
Technology is evolving to meet the challenges to automate water separation and purification in deepwater for environmentally safe discharge at the seabed. To solve these problems the best available solutions must be selected and the technology gaps must be identified and closed.
Subsea Hardware Spend Forecast To Double From 2013 to 2017
Deepwater activity is booming in the Golden Triangle (Brazil, west Africa, and the Gulf of Mexico), which is forecast to account for 44% of total subsea hardware expenditure. Trunkline projects are of particular significance.
Deepwater Capital Expenditure of USD 223 Billion Forecast From 2013 to 2017
In 2013, as deepwater projects become increasingly capital intensive, there are economic challenges for exploration and production (E&P) companies and a potential prize for international oilfield service and equipment vendors. Deepwater represents a long-term opportunity.
Charting New Waters: Decommissioning of Deepwater Structures
Industry has overcome the technical challenges with decommissioning in shallow water. But as deepwater structures require removal, a whole new set of decommissioning challenges will require new solutions. This article highlights some of these challenges.
Measurement Technologies for Subsea Processing Systems
The OTC 2012 Spotlight on Technology awards highlighted subsea separation and boosting and subsea heavy oil and water separation technologies in deep water.
Shell Brazil Project Wins Honor
Shell’s Parque das Conchas project, an ultradeepwater heavy-oil development in the northern Campos basin offshore Brazil, has won the IPTC Excellence in Project Integration Award. The award recognizes significant and unique achievements in managing and directing a project from discovery to delivery.
Deepwater Spending to Rise to USD 232 Billion in Next Five Years
Expenditures for deepwater projects are expected to rise by 90% over the next 5 years. Drilling and completion of subsea wells will dominate deepwater spending. Higher oil prices are supporting the development of deepwater prospects to contribute to world energy supplies.
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