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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A proactive approach with EPC contract bidders to front-end load HSE strategies will pay dividends. This paper discusses the HSE management strategy for the Lake Charles Liquefied Natural Gas project. -
Statoil selected the name “Empire Wind” for its offshore wind site located off the southern coast of Long Island, New York. The company also recently stepped into solar power in Brazil.
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The industry is evolving to a more factual approach to profitability, with emphasis in modeling the long-term scenarios with detail. And this applies for developments in both mature and new fields.
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The oilfield-development plan (ODP) for a shale gas field at the southern edge of the Sichuan Basin in China started in early 2014.
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Husky Energy awarded the EPCI contract for its $1.6-billion expansion project, West White Rose, to TechnipFMC. It includes the supply and installation of subsea equipment.
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Baker Hughes, a GE company, agreed to provide services and equipment for Twinza’s Pasca A field development, Papua New Guinea’s first offshore gas field.
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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.
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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.
