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Amidst a conflict between Vietnam and China over the South China Sea, the Malaysian company’s 10-year deal to supply an FPSO for the Ca Rong Do offshore field is now history. Repsol, the operator of Ca Rong Do, suspended the project last year in the wake of government pressure.

Serica Energy has become the first operator to digitize safety in the North Sea after signing a deal to adopt the Restrata Platform, a piece of technology that provides real-time monitoring of people and assets.

As the operator seeks to raise $15 billion from asset sales through 2021, it sees a viable opportunity in its Gippsland Basin upstream portfolio, which could fetch up to $3 billion in a sale. Wood Mackenzie anticipates strong interest, but the age of the field may prove problematic.

Using machine learning (ML), image recognition, and object detection, the use of ML on algorithms to recognize objects and describe their condition were investigated—offering new possibilities for performing inspection and data gathering to evaluate the technical condition of oil and gas assets.

The recent jump in oil price could create additional momentum for margins in the service sector. With shale euphoria wearing off, service company margins are still showing some resiliance. If the price hike persists into 4Q 2019, increased activity could improve pricing further.

Rystad estimates almost 2 million B/D will remain shut in on average during September and October, with full restoration to pre-attack levels not coming until closer to year end.

The US shale sector continues to disrupt global oil markets. Soaring US crude production and the resulting exports to Asia and Europe, are transforming worldwide trade flows and changing how consumer countries price crude.

The project aims to contribute an estimated ultimate recovery of more than 175 MMboe from one of the company’s signature deepwater projects in the US Gulf of Mexico.

Technology startups are breathing new life into an old industry with advanced software and emerging chemistry solutions. Learn about some of the names earning the most attention from the industry's venture capital groups.