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It has been a busy month so far for the oil and gas industry’s venture capital groups. Find out which operators are making moves and which technology developers are turning heads in this latest roundup.
Forecast sees 12% boost in the region’s crude production by the end of 2022.
• Under pressure from the Kingdom to help boost the private sector’s contribution to Saudi Arabia’s GDP to 65% by 2030, Aramco secures a cash payout of $12.4 billion in one of the world’s largest energy infrastructure deals ever. • Total’s$5.1-billion Lake Albert development with CNOOC brings Uganda into the club of oil-producing nations while it positions the French major as the dominant player in African oil and gas.
• Asian markets continue to represent the leading edge of global economic growth, and with many of the international oil companies divested from the region, Southeast Asian operators in particular see themselves well positioned for the future.
• The honorees will be recognized later this year at the OTC Distinguished Achievement Awards Luncheon.
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Monthly Features
• The Gas Exporting Countries Forum (GECF) forecasts in its annual global gas outlook that natural gas will comprise nearly a third of the global energy mix by 2050 and fuel more than half of the world’s electricity production. So, when it comes to fixing climate change, natural gas is one fossil fuel that can’t be dismissed. The 11 countries comprising the GECF control…
• At least a dozen satellites are being built to orbit the Earth in search of methane leaks. They will be measuring methane flows, and some will be able to identify the source down to the facility level.
• Technology is advancing, and applications are growing, but scaling faces technological and human challenges.
• Artificial intelligence is opening new ways to analyze data from microseismic events that occur during hydraulic fracturing. One researcher at Moscow’s Skolkovo Institute of Science and Technology is building a convolutional neural network to get a subsurface view of permeability after fracturing.
• A well-flux surveillance method to monitor and ramp up production for openhole standalone screen completions is described that optimizes production by considering risks of production impairment and screen-erosion failure.
• Skipping one traditional step in the supply chain might save oil and gas companies hundreds of millions of dollars a year while making a meaningful dent in emissions.
• Field examples presented in the complete paper describe principles of data acquisition with a sand-detection tool when run in combination with a production logging string and results of logging in slightly deviated wells completed with sand screens.

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President's Column
• Students seeking internships and permanent employment are being challenged like no other time in the history of our industry. Along with guidance, SPE President Tom Blasingame shares his outlook on the future of the oil and gas industry and the opportunities it offers.