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There is no shortage of ideas for reducing the cost and risk of offshore oil and gas developments. The hard part is implementing them in an industry where they require changes in long-standing habits, corporate cultures, and some new technology.

In a down market, plugging and abandoning North Sea wells looks like an opportunity. The cost for operators is reduced because the government is paying more than half of the cost of the work, and many service companies hungry for work are offering discounts.

A refracturing campaign in the Permian yielded a production gain that allowed payback on the investment within 6–12 months.

A pilot project carried out by Hess demonstrates how quickly automated drilling technology is able to take a rig from the bottom of the pack in terms of performance and push it to the top.

To help lower costs of offshore projects, DNV GL has launched initiatives focused on the use of composite components.

In drawdown management, operators can exert control over the downhole flow pressure, reservoir pressure, and choke size to avoid estimated ultimate recovery (EUR) losses.

ExxonMobil’s latest long-term energy outlook paints a generally robust picture for oil and natural gas despite the steep fall in hydrocarbon prices and cuts in capital spending.

There is widespread acceptance that extraction industries—including oil and gas—improve people’s lives and enable the economic growth of countries. However, at the project level, this acceptance is neither automatic nor unconditional.

The SPE Trinidad and Tobago Section recently hosted an Applied Technology Workshop (ATW) on oil and gas effluent discharge management that brought together those responsible for generating effluent discharges, regulators, and those creating treatment technologies

Many companies too often focus solely on maximizing current production when they should really be focusing on maximizing profitability. A holistic, total asset modeling process is needed to reorient the focus of digital oilfield systems to focus on the net present value (NPV) of every project.