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A lot about the blowout preventers used for offshore drilling has changed since Macondo in 2010, but the essentials remain. This evolution serves as a case study on why some oilfield technology is hard to change.

Nearly everything’s on the table as companies aim to shore up portfolios by curtailing investments and dumping low-priority assets.

Hit by the pandemic, the oil market crash, and the transition to a low-carbon energy future, exploration companies are spending bare budgets on near-term production and high-impact exploration.

The Oil & Natural Gas Corporation (ONGC) has invited bids for partnership to raise production from 64 marginal fields that were given to the company by the government without bidding. As they are small in size, these fields are uneconomical for a larger company.

Petrobras has taken a 65.3-billion Brazilian real ($11.2-billion) impairment on its exploration and production (E&P) assets, warning investors that changes in consumer behavior resulting from the coronavirus pandemic would likely be permanent.

In its May 2020 Short-Term Energy Outlook, the US Energy Information Administration (EIA) forecast US-marketed natural gas production to decrease by 5% in 2020. Production is expected to average 94.3 Bcf/D in 2020, down from 99.2 Bcf/D in 2019.

Two technologies that may play a part in the decarbonization of the UK energy business are carbon capture, use, and storage and the use of hydrogen for energy transportation and storage. This approach builds on the UK’s gas-network infrastructure, which can be repurposed to avoid becoming stranded.

The Hydrogen Offshore Production project identifies an alternative to decommissioning by providing reuse options for offshore infrastructure. It aims to prove the feasibility of decentralized hydrogen generation, storage, and distribution to provide a bulk hydrogen solution.

McDermott’s restructuring comes 5 months after it filed for Chapter 11 protection. The company was struggling with debt since its 2018 acquisition of CB&I.

The paper reviews the types of renewable energy used in oil and gas fields that have appeared in the literature. Use of renewables offers many advantages, including saving hydrocarbon resources, minimizing the oil industry’s GHG emissions, and enhancing its public image.