offshore

The success of an upstream startup in the 1970s might offer lessons for those entering the oil and gas industry today.

The cost cuts made during the downturn and the recent increase in oil prices have led to some global offshore projects becoming economically viable. Norway is leading the comeback.

Partnerships are proving key in developing and sustaining big offshore projects internationally, with Eni now teaming with ADNOC off Abu Dhabi and farming out another stake in the Zohr gas field off Egypt.

US Secretary of the Interior Ryan Zinke announced a series of new initiatives on 6 March to strengthen the federal offshore oil and gas inspection program.

Integrated surveillance is critical for understanding reservoir dynamics and improving field management. A key component of the surveillance is areal monitoring of subsurface changes by use of time-lapse geophysical surveys such as 4D seismic.

Many operators are taking a full-life-cycle approach to preparing for decommissioning—a shift borne of necessity amid cost and regulatory constraints.

With no money to be made, P&A is one area where operators can put aside their hyper-competitiveness to work together. Members of the recently formed PACE network discussed the virtues of collaboration at the Decommissioning and Abandonment Summit 2018.

Onshore development is increasing production, while investors demand greater operational efficiencies. Operators and service companies are striving to strike the balance between fiscal discipline and growing their production. How low can costs go, and for how long?

BP announced two North Sea discoveries, adding to signs of a revival in play that was looking old, tired, and overpriced a couple years ago.

The two supermajors and offshore powerhouses are assessing the latest Gulf of Mexico discovery.