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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McDermott announced a letter of award for a contract from Reliance Industries for the deepwater KG-D6 subsea field development in the Krishna Godavari Basin. -
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.
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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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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.
