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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Decision making in uncertain environments is key to the successful delivery of oil and gas projects. By definition, however, uncertainty is ambiguous and unpredictable. -
Speakers at the recent SPE Asia Pacific Unconventional Resources Conference and Exhibition addressed the role of uncertainty and risk in sanctioning megaprojects.
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The failure rate for megaprojects is often blamed on complexity. A dinner during ATCE asked whether there is a limit to the degree of complexity we are capable of effectively managing.
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Statoil is going to work to put its enormous Johan Sverdrup discovery into production, showing that even one of the most explored parts of the North Sea still has significant potential.
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The focus of this paper is how efficiencies affect schedule, with the recognition of the secondary effect on project cost. This paper also proposes integrated project delivery to enhance effectiveness.
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Project managers for megaprojects that will take years to complete require special skills to deal with the many challenges. As a result, engineering and construction firms report a shortage of project managers.
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There is no question that deepwater production will play a very important part in meeting the world’s future energy demand.
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PFC Technical Director Howard Duhon asked readers about the drivers of project complexity. Here are the results.
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Many companies are seeking 20% to 50% reductions in project costs. This level of capital cost reduction requires serious rethinking of the strategy for developing and executing projects.
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A few months ago while at lunch with a project team, I heard an engineer lament about how much more difficult it is to execute a project now than in years past.
