Field/project development

Pioneer Natural Resources is moving to complete its second major acquisition of another shale producer in less than 6 months.

Partnership will move forward with the multibillion dollar Australian gas and condensate development.

Once heralded as a major achievement of Mexico's energy reforms designed to entice foreign investment, control of the Zama field has been in dispute for 2 years and is now likely to be decided by industry regulators.

The major rule change adopted this month also gives oil and gas producers a deadline to capture 98% of their produced gas by 2026.

Iraq, which is second only to Russia in terms of gas flaring, is nearing an agreement with Total to implement dual-energy megaprojects to capture that gas and wean the country away from sanctioned Iranian gas and electricity imports. Solar power will play a major role.

The INPEX-lead Ichthys LNG megaproject won the 2021 International Petroleum Technology Conference Excellence in Project Integration award in a presentation that took place during the opening ceremonies of the annual conference.

ExxonMobil’s Kerry Moreland, a geoscientist, managed breakthrough discoveries in the early stage of her 15-year career that have positioned the company for decades to come in South America. Now she is pursuing similar goals in Africa and Asia Pacific, as she explains in a moderated interview at this week’s IPTC in Kuala Lumpur.

Russia’s largest oil company is moving quickly to shed underperforming brownfield assets to raise capital and transform itself into a major LNG player this decade. The state-owned giant is making the move as natural gas positions itself for a growing role in the energy transition.

Last year, events accelerated several trends in the energy landscape. Oil and gas prices have remained low, and the industry is focusing more strongly on reducing costs and increasing operational efficiency. Implementing innovative technologies that increase recovery requires a small investment but can bring large rewards.

Profits are up as drilling is down in Canada’s Montney play where a merger this week highlighted the continued drive to increase profits, which are benefitting from rising natural gas prices.