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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Applying an economic analysis for Trinidad and Tobago's deepwater gas fiscal regime, results were calculated for various price scenarios to identify a workable strategy for development of offshore resources. -
Field-development projects need to include and consider not only a static or dynamic subsurface characterization but also the production-systems and facilities options, to trigger profitability and establish clear breakeven thresholds.
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A key aspect of the project discussed in this paper is the use of minimal initial-production facilities to achieve significant early production from each of four preconstructed artificial islands.
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This paper presents the development of Sapinhoá field, covering the fast-track transition and decision-making process, from appraisal to conceptual and basic engineering of the Sapinhoá pilot project and on to its subsequent execution, highlighting the challenges, lessons learned, and results.
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A reason why projects are not completed on time is the disconnect between operators and contractors. An integrated asset approach tackles complex offshore jobs by being holistic and full field in nature and encompassing the planning, building, and operating phases of a project.
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Iraq is producing oil at record levels this year but low oil prices have cast doubts on the economic feasibility of its licensing contracts, which some analysts and policy advisers say are holding back higher output.
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A new multilayer boundary‑detection service has been introduced to resolve the geological uncertainty associated with horizontal wells in Bohai Bay. Geosteering and real time reservoir characterization were used to reduce the uncertainty.
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To survive in the current low-price environment, exploration and production (E&P) companies must better handle the complexities inherent in their projects through practices that promote capital effectiveness and collaboration.
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One of the latest offshore innovations from Statoil is nothing flashy, which is the point. A drawing shows a plain, steel jacket, standing in water 110 m deep, topped with a flat metal deck.
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Why do we as an industry do so poorly in executing large capital projects? Oil and gas is not alone. The many reasons for failure of megaprojects fall into five broad categories.
