Business/economics
While Uzbekistan has seen a significant drop in flaring, methane leaks from deteriorating infrastructure continue to reveal themselves to satellites in space.
ExxonMobil will retain its equity stakes in ongoing Bass Strait projects even as it hands off its operatorship responsibilities to Woodside Energy.
Technology and partnerships remain important, while phased approaches may supplant lengthy appraisal programs, experts said during CERAWeek.
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Low oil prices look like something the industry needs to get used to. “This will be with us for a while,” said Rex Tillerson -
The price declines for oil and natural gas are equally brutal, with roughly a 50% decline for both fuels.
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Operators have announced reduced budgets and delayed deepwater project sanctions. Despite these reductions, the long term outlook is for increased deepwater spending.
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In a recent webinar, the speaker discussed mistakes companies make when prices are falling along with steps to help manage project costs in difficult economic times.
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The Asia Pacific region is expected to be the fastest-growing region in deepwater development in the next 5 years.
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Decline-curve analysis (DCA) is arguably the most commonly used method for forecasting reserves in unconventional reservoirs. This paper discusses its basic theory and application, together with the potential pitfalls of using simple empirical production-forecasting methods in complex reservoirs.
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Expectations of continued USD 100/bbl of oil were shattered by a sharp price drop last year that eventually halved the prices of benchmark crudes. Prices were still sinking at the start of the year to lows not seen since 2009 due to a global oversupply of oil.
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A sharp decline in oil prices is pushing oil and gas companies to innovate to increase efficiency and prepare to meet the world’s long-term energy needs, panelists said at the International Petroleum Technology Conference (IPTC) held in Kuala Lumpur, Malaysia, in December.
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SPE’s technical directors are focused on problems that require working outside the bounds of their discipline.
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The number of aging offshore facilities in the Asia Pacific region is increasing. The decision to extend the service life of an offshore asset is made on the basis of detailed technical analyses combined with detailed economical evaluations.
