Business/economics
Schneider Electric says the deal advances its vision of creating intelligent industrial ecosystems that connect physical assets with digital insights across the asset life cycle.
The firm’s latest analysis puts the bulk of the blame on a fragmented supply chain.
The supermajor said the fields are not expected to contribute meaningfully to its production profile by 2030.
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Global OPEX is falling, and the UK has emerged as a cost-cutting powerhouse among global offshore regions feeling the squeeze of uncertain oil prices. In pursuit of lower unit prices, Rystad Energy says that operators and contractors have begun nurturing operational improvements. -
The deal comes months after the jointly owned Petrogas NEO UK acquired several UK North Sea assets, including a $635-million purchase of Total's stakes in various fields last July. The 2-year deal with Petrofac is valued around $50 million.
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Talos is hoping to retain its operatorship of the major discovery it made in 2017 offshore Mexico after a reserves audit confirmed the reservoir is shared between two offshore blocks.
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Aker Solutions has signed a contract to provide subsea control systems for Phases 4 and 5 of Beach Energy’s Otway project offshore Victoria, Australia. The order includes 7 sets of Vectus subsea control modules (SCMs), which will be backward compatible to the existing topside MCS and EPU, along with associated stab plates and testing equipment.
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The deal is part of BP’s plan to divest $10 billion in the North Sea so that it can focus on developing core growth areas and construct more cost-effective subsea tiebacks in the region.
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The company will shell out more than $800 million to acquire interests in the Andrew and Shearwater areas, as well as the Tolmount field, offshore Scotland.
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As capital markets dry up and shale producers look for pathways to growth, oil and gas data analytics firm Enverus predicts the US sector will see a “surge” in mergers and acquisitions in 2020.
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BW Offshore has signed an extension with Eni subsidiary Nigerian Agip Exploration for the use of the Abo FPSO until the end of 4Q 2020, with options until 4Q 2021. The FPSO has operated at the Abo field offshore Nigeria since 2003. It has a production capacity of 44,000 B/D of oil, a water injection capacity of 33,000 B/D, gas compression capacity of 48.4 MMcf/D, and …
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Merging new knowledge and technological capabilities among the disciplines—and beyond—will be crucial to sustaining the industry for the long term.
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With international spot trade of gas increasing and public pressure growing for cleaner fuels, the world's major gas producers believe the time is finally right to become a major force in global energy markets.
