arctic

Located in the National Petroleum Reserve in Alaska, the Willow project is estimated to produce 180,000 BOPD at its peak.

As Canada, Greenland, and even Norway shy away from developing their Arctic oil and gas resources, only Russia and the US remain in the game as Alaska seeks to renew interest in exploration and development of its North Slope.

Yamal LNG Resource, a subsidiary of Russia’s Novatek, has won exploration and production licenses to expand its Arctic resource base for sustained long-term growth of its LNG business.

Russia’s second-largest gas producer plans to raise $11 billion with the help of China, Japan, and Europe.

With a production capacity of nearly 20 mtpa, Wood Mackenzie says the project would be the largest single project to reach FID. Novatek plans to spend more than $21 billion to launch the project at full capacity. Startup is scheduled for 2023.

The Russian independent will likely sell an ownership stake to an additional partner in the coming weeks, joining Total, CNOOC, and CNPC. FID is expected to take place later this year.

The 2019 Global Award of the International Association for Impact Assessment was awarded to the Arctic Council, honoring the council’s promotion of sustainable development and environmental protection.

DNV GL’s Rig Spray JIP aims to help operators working in the Arctic better predict the potential for sea spray icing on offshore structures, which poses a significant safety hazard.

Unmanned aircraft are finding their place in the oil and gas industry by providing aerial geologic modeling to address reservoir-related challenges and making inspections safer.