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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Venture Global LNG awarded the EPIC contract for its Calcasieu Pass LNG export facility to Kiewit. FID is expected in 2019, completion in 2022. -
Startup comes 8 months after the initial discovery in March, marking the second successful tieback since 2017 to the Beryl Alpha platform in the UK North Sea.
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In the clustered-development approach, the geologic dependence between prospects is combined with the aggregation of prospects to determine the economic viability of a grassroots development offshore.
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The ideal well spacing is in the eye of the beholder. The decision depends on so many factors that machine learning is now trying to determine the best combination of ingredients.
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Majors BP and Chevron have overcome development challenges and delays to launch their respective Clair Ridge and Big Foot projects.
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The unit is flowing oil and gas from the Lula Extremo Sul area, 290 km off Rio de Janeiro state in 2150 m of water.
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The expansion is expected to boost production of the deepwater Gulf of Mexico platform by approximately 30,000 BOE/D. It is the fourth major upstream project to begin production for BP in 2018.
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The North Sea field, which holds an estimated 300 million BOE in recoverable resources, is now scheduled to start production in early 2020. Operator Equinor said the timeline was based on its assessment of the remaining scope of work on the project.
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Well-placement optimization is one of the more challenging problems in the oil and gas industry. Although several optimization methods have been proposed, the most-used approach remains that of manual optimization by reservoir engineers.
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This paper shows how a new approach to small fields could unlock more than twice the net present value (NPV) of larger conventional fields in Southeast Asia at a similar level of capital expenditure (CAPEX).
