TOPICS OF INTEREST
PRODUCTION AND WELL OPERATIONS
UK Offshore Production Reaches 80% Efficiency Years Ahead of Expectations
For the seventh straight year, the regulatory body has found offshore operations continue to improve based on an efficiency model developed in partnership with the SPE.
Operator Seeks $1 Billion for FPSO To Advance North Sea Life-Extension Project
Vår Energi is looking to extract another 136 million BOE from the Balder Field. Production is anticipated in 2H 2022.
Canada's Shipping Runs Off the Rails
The country’s once-thriving railway system has skidded to a stall, falling victim to low crude-oil prices, reduced demand, and government-imposed oil production cuts.
The Influence of Test Parameters on Crude-Oil Yield Stress
Production of paraffinic crude presents challenges due to depressurization and cooling of crude oil during production.
BP Sells Alaska Business To Hilcorp for $5.6 Billion
The deal follows BP’s divestment of its global petrochemicals business in late June.
No Project Sanctions Expected in Gulf of Mexico This Year
Forecasts are lowered for levels of E&P, budgets, and project sanctioning.
Petrofac Secures Well Management Contract for IOG Core Project Phase 1
Petrofac’s well management contract comes nearly a month after IOG received approval for phase 1. The contract also follows an EPC contract awarded to Subsea 7 in May.
North Sea To Lead Increased Spend in Decommissioning
Even before the global pandemic impacted markets, decommissioning work in the North Sea region was expected to increase. Global decommissioning projects could reach $42 billion by 2024.
Santos Names Weatherford Contractor of the Year
The oilfield services company's Tubular Running Service was recognized for reducing costs, maximizing safety.
OFS Companies’ Stock Price, EBITA Margins Hit Hard From COVID-19 Fallout
Two intelligence groups share similar views on how the fallout from the COVID-19 pandemic has impacted OFS companies’ valuations and operations.
FPSOs May Need To Be Shut Down During Economic Downturn
FPSO sanctioning is at a minimum and few opportunities remain for FPSO suppliers to find new work and redeploy their vessels. Suppliers may be forced to accept day rate reductions in order to keep their vessels working.
Artificial Intelligence Optimizes Oil and Gas Production
An AI-based application enabled operators to preempt ESP failures while optimizing production.
Shell Postpones FIDs on GoM and North Sea Projects
The deferments are the latest actions Shell has taken in response to record low crude prices.
Production at Ærfugl Phase 2 Well Ahead of Schedule
The announcement comes as Aker BP has stopped all nonsanctioned projects. The remaining two Phase 2 wells will come on stream in 2021.
Fugro Awarded Remote Operations Contract
After being acquired in 2019, the Well-Safe Guardian semisubmersible was extensively overhauled and upgraded. Fugro is the second company to be awarded work this year on the asset.
US Onshore Produced Water To Drop Nearly 20 Billion bbl by 2022
Cutbacks in oil and gas production and drilling and completions will result in a decrease in produced water and will also lead to a reduction in water infrastructure investment.
Lack of Storage Space Drives Nymex WTI to Record Low in Negative Territory
Shut-ins and planned production cuts have not affected crude prices, say industry experts.“It’s like trying to explain something that is unprecedented and seemingly unreal."
Subsea 7 To Provide Installation Services for Anchor Field Project
Subsea 7’s installation services contract is the latest Chevron award for its Anchor field project. First oil from the project is expected in 2024.
Current Challenges for the UK and Norway in the Face of COVID-19
Westwood Global Energy’s analysis looks at production, cost, and revenue estimates in the UK and Norway, should oil prices remain low. The research group also provided an outlook on drilling activity.
Extended-Reality Initiative Optimizes Wellsite Planning
Immersive technology on projects such as wellsite planning incorporates XR, drones, and collaboration.
SPE Launches Flow Measurement Technical Section
Approved in October, the Flow Measurement Technical Section will help engage the greater SPE technical community in flow-measurement-related issues and technologies. It will cover the full spectrum of flow measurement, including single-phase and multiphase flow.
ADNOC, Honeywell Team on Large-Scale Predictive Maintenance Project
ADNOC will utilize Honeywell’s asset monitoring and predictive analytics platform to improve asset efficiency and integrity across the operator’s upstream and downstream businesses.
Hillcore Group Acquires Major Canadian Well Services Company
The private investment firm said it will partner with Treeline Well Services, one of the largest private rig providers in Canada, to build its service fleet following acquisition of the company. Treeline’s core areas are in Alberta and British Columbia.
Restoration of Oil and Gas Production Continues in Gulf of Mexico
The Bureau of Safety and Environmental Enforcement reported about 14% of oil production and about 14% of natural gas production remains shut in following Tropical Storm Barry.
Personnel Begin Reboarding Platforms After TS Barry
Offshore personnel are reboarding Gulf of Mexico platforms, oil and gas production begins recovery.
Slight Uptick in GOM Shut-Ins as TS Barry Continues Onshore
All 20 dynamically positioned rigs have returned to pre-storm locations. Operators' reports of evacuated personnel remain unchanged from yesterday.
70% Oil, 56% Gas Production Shut In as Barry Makes Landfall as Tropical Storm
The Gulf of Mexico disturbance, Barry, made landfall today near Intracoastal City, Louisiana, and weakened to a tropical storm.
GOM Operators Begin Evacuations as Tropical Storm Advances
As a disturbance in the Gulf of Mexico continues to develop, about 32% of the oil production and 18% of the natural gas production in the GOM has been shut in.
Equinor Awards Billions in Service Contracts
The new deals, valued at approximately $2.9 billion over 3 years, cover services for liner hangers, downhole monitoring, and additional completions on the NCS.
Osprey Informatics and Infrastructure Networks Partner Up on Computer Vision
The two technology startups aim to bring scale to the visual side of oilfield automation with a new deal that will cover 90% of US energy assets.
BP Begins Gas Production From Phase 2 of West Nile Delta Project
Current production from the phase is 400 MMcf/D and expected to peak at 700 MMcf/D. A third phase also is slated to come on stream this year.
Greedy Pursuit: Algorithms Show Promise in Measuring Multiphase Flow
“Greedy pursuit” in the realm of algorithms is a good thing. Saudi Aramco studied such algorithms to produce images simulating the flow inside a pipe’s cross section, possibly reducing the need for separator-based multiphase flowmeters.
Anadarko Looks to Tiebacks, Platform Life Extension, and Potential Redeployment To Add Value
Anadarko aims to maximize immediate short-cycle value through tiebacks and platform relocations in the Gulf of Mexico.
CNOOC Begins Production at Stampede in Gulf of Mexico
The Hess-operated field, which drew first oil in January, is expected to produce 80,000 BOPD as production ramps up this year.
Executing Offshore Projects More Efficiently
Offshore project execution enhancement ideas are highlighted for debottlenecking, gas-hydrate-induced pipeline vibration, and the design of subsea systems for efficient startup.
Automated Data Management Helps Take the Pain Out of Analytics
Public clouds are one of the emerging technologies that are minimizing the cost of processing the big data of the oil and gas industry. Among the hurdles to the wide-scale adoption of the cloud are security and access cost.
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17 July 2020
21 July 2020
ITEMS OF NOTE
07 August 2018
20 July 2018
16 February 2018
18 December 2017
28 November 2017