Field/project development
The project partners and the Newfoundland and Labrador government reach agreement over life-of-field benefits, royalties, and an equity option, moving development toward sanction in 2027.
Operator started planning the development before it made its latest North Sea discovery.
The Middle East’s largest unconventional gas development officially begins production as Saudi Aramco targets 6 million BOE/D of gas and liquids capacity by 2030.
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With a replacement gas injection system successfully installed, the Liza Destiny FPSO has reached its peak capacity of 120,000 B/D on the one-year anniversary of its commissioning. -
With one of the world’s lowest electrification rates, Mozambique is moving to give its citizens a brighter future. Together with South Africa’s Sasol, the country endeavors to attract global EPCM companies and international financing to create a power generation hub fueled by gas from onshore fields.
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Emerson has launched cloud-native software designed to find opportunities for field development through data mining and automation. The software, called SpeedWise Reservoir Opportunity, was developed in collaboration with Quantum Reservoir Impact.
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BP started gas production from its Qattameya gasfield development offshore Egypt in the North Damietta offshore concession.
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Aramco commissioned a top-down and bottom-up assessment of the potential risks associated with delivering major projects in China, the Kingdom of Saudi Arabia, India, and the US Gulf Coast. Its goal is to deliver shareholder value while preserving the capital effectiveness and value of the projects.
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An ATCE presentation outlined how staged field development can help make smaller oil discoveries commercial alongside existing engineering solutions.
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Dutch oil major Shell is looking to further develop its North Slope oil position in Alaska. The company’s offshore unit applied to form the West Harrison Bay Unit offshore from the National Petroleum Reserve–Alaska with plans for drilling and exploration.
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BP, in partnership with OQ, PETRONAS, and the Ministry of Energy and Minerals in Oman, announced in mid-October that production had begun from the Block 61 Phase 2 Ghazeer gas field, 33 months after the development was approved.
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Present industry solutions to the challenge of well spacing involve expensive geomechanical Earth modeling or fracture-geometry monitoring that is time-consuming, data-intensive, and geography-specific.
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The EPCI contract for the Breidablikk development includes provision of flexible jumpers and rigid pipelines as well as pipeline installation work. About 70% of the value creation in the Breidablikk development phase is expected to go to Norwegian companies.
