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Merging new knowledge and technological capabilities among the disciplines—and beyond—will be crucial to sustaining the industry for the long term. -
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.
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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.
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ConocoPhillips has pulled out of the much-hyped Louisiana Austin Chalk play after the company’s test wells yielded a gusher of water. Meanwhile, an Australian operator flying under the radar continues to pursue the adjacent-but-even-more-challenging Tuscaloosa Marine Shale.
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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?
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Lower equipment utilization and prices have worsened the pain for oilfield service companies in Texas, New Mexico, and Louisiana, while operators continue to grapple with the industry’s shifting business climate.
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Saudi Aramco, BP, and Schlumberger pride themselves on staying at the forefront of digital technology development and deployment. But an equally daunting challenge for the industry heavyweights is keeping their ever-expanding digital systems secure.
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Recent exploration success in the North Sea has motivated Total to invest some $10 billion in the basin over the next 5 years.
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Partnerships with big tech, tech startups, and innovative service companies—and the merging of their data, cloud, and software applications—are proving essential for operators in the scaling phase of digital deployment. Equinor, Microsoft, and Halliburton are among those joining forces.
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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.
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