Field/project development
The Loran Phase 2 license award builds on BP’s growing presence in Venezuela as it seeks to develop offshore projects, particularly shared fields near Venezuela’s maritime border with Trinidad and Tobago.
ExxonMobil and its Area 4 partners have awarded $1.1 billion in pre-investment contracts for long-lead upstream equipment supporting Mozambique's Rovuma LNG project. The awards, led by OneSubsea, mark a key step toward FID as development advances on ExxonMobil's largest global investment.
Gran Tierra will refocus its investment strategy to strengthen its portfolio in Canada and Azerbaijan while Maurel & Prom, majority owned by Pertamina’s international upstream arm, grows its South American footprint in Colombia and Ecuador.
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Watch Valhall Flank West topsides move outside at the Kvaerner Verdal yard. -
The startup of a second FPSO will add 115,000 BOPD to the deepwater project offshore Angola, bringing overall production capacity to 230,000 BOPD.
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Equinor marked the installation of the last pieces of the Johan Sverdrup field center with the heaviest lift ever performed offshore. Two final platform topsides, a bridge, and a flare stack were installed last week.
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Megaprojects have come to define many of the world’s new resource projects but they are also a testament to the awesome engineering capabilities of the oil and gas industry. Find out who took home this year’s honors.
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The oil price downturn spawned a lull in deepwater enthusiasm, but better project execution and reduced project lead times have helped operators achieve lower costs and better returns. What does the landscape for deep water look like in the near term? Will operators get more involved?
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The decision to ramp down production on the Aspen project comes months after the Alberta provincial government imposed production cuts to handle pipeline bottlenecks. Aspen is projected to produce 75,000 BOPD upon startup.
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Encana CEO Doug Suttles assures that shale executives are acutely aware of the parent-child well challenge, and he doesn’t think it’s “a big threat” to the sector.
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Woodside awarded Subsea 7 three contracts since December 2018, each for engineering studies and includes an option for Woodside to proceed to the execute phase with an engineering, procurement, construction, and installation (EPCI) contract.
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Commissioning is complete and Bechtel has turned over care, custody, and control of Train 1 to Cheniere, It's the first liquefaction train placed into operation in a greenfield facility in the lower 48 states.
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The technical challenges imposed by tight well spacing and fracture interactions have become a focal point of recent earnings calls between investors and the leaders of several shale producers. The picture of the future is becoming clearer, and there are fewer oil wells in it.
