Chevron

The US major has had a stake in the field since it started production in 1997. It produced 584,000 B/D of oil last year.

The round included a near-$1 billion signature bonus on a Campos Basin block awarded to a Total-led consortium.

The energy major said it plans to reduce emission intensity by 5–10% for upstream oil production and by 2–5% for upstream gas.

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.

The combination of digital technologies will enable Chevron—and, eventually, other companies—to process, visualize, interpret, and glean insights from multiple data sources, the companies said.

Australia’s BHP Billiton and the recently acquired Anadarko Petroleum submitted the largest dollar totals of high bids in US Gulf of Mexico Lease Sale 253.

It is “one of the world’s largest greenhouse gas mitigation projects ever undertaken by industry,” Chevron said in a news release.

Moving their directional drillers into their Houston real-time remote operations centers has improved drilling efficiency for two of the top shale producers.

In its first 50 years, LNG has become the world’s fastest-growing gas supply source and is now part of an upheaval in the global energy market. Today, the sector stands at a crossroads, and the industry must adopt new thinking to address current and future needs of buyers, sellers, and consumers.

The $30.5-billion project is expected to produce 18 mtpa of LNG once it starts up; commissioning is expected sometime in the mid-2020s. Canada’s investment includes $160 million to fund energy-efficient turbines, which the government says will minimize greenhouse gas emissions.