Field/project development
Saipem has launched offshore operations in Suriname, while Repsol is expanding exploration efforts in Venezuela and partnering with MOL Group and TPAO in the Mediterranean. Petronas, Shell, and Murphy Oil reported new discoveries in Suriname, Namibia, and Côte d’Ivoire, respectively, as Occidental acquired a stake offshore Trinidad and Tobago and BP began gas producti…
The next wave of unconventional growth will likely come from basins in Argentina, the Middle East, Australia, and elsewhere, fueled by expertise gained from shale plays in North America.
The $5.1 billion ultradeepwater project is Angola’s first integrated cross-block development and sits at the top of Azule’s Southern African portfolio.
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Ben Van Beurden, CEO of Royal Dutch Shell, said in his 2Q presentation that the Prelude FLNG is one of three projects under construction that, along with nine others recently brought on line, will deliver USD 10 billion in cash flow by 2018. -
The number of delayed projects getting final investment approvals is rising, but the number not clearing that tough bar is rising as well.
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Reliance Industries and BP are going forward with the expansion of a huge field off the east coast of India that is expected to fill 10% of the country’s energy needs.
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Low oil prices have made the goal of this Petrobras project and its four partners to lower the break-even price of operating to USD 35/bbl.
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Companies are rethinking offshore developments and in a very tough market are finding innovative ways of bringing some projects forward.
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This paper reviews clusters of information that will be termed “building blocks” for deepwater-field-development planning, discussing how they are currently used and exploring more-affordable, but technically robust, alternatives.
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Shale explorers in Argentina are reporting that improving performance and activity is set to rise this year to boost the country’s gas production.
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New figures show that the facilities working in the Gulf of Mexico achieved higher crude output in 2016 than at any other period.
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The new Juniper offshore platform began its journey toward Trinidad to be installed as BP Trinidad and Tobago LLC’s 14th offshore installation. Juniper will have a production capacity of approximately 590 MMscf/D.
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In the first part of this series, the author explained why the current way of performing FEED does not allow minimization of costs by optimizing the design. In this article, he describes how the current contractual setup of the EPC also fails to minimize the costs of equipment/materials and works.
