Field/project development
Assets consolidated into the Searah JV include Eni-operated deepwater gas-condensate developments in the Kutei Basin, offshore East Kalimantan, Indonesia.
Five agreements target more than 11 Tcf of offshore gas and include flare-reduction technology.
ExxonMobil and QatarEnergy’s MoU with Cairo to monetize Cyprus’ offshore Glaucus and Pegasus natural gas supports Egypt’s strategy to become the Eastern Mediterranean’s leading gas processing and LNG export hub.
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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. -
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.
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Reliance Industries and BP are going forward with the expansion of a huge field off the east coast of India that is expected to fill 10% of the country’s energy needs.
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Companies are rethinking offshore developments and in a very tough market are finding innovative ways of bringing some projects forward.
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Shale explorers in Argentina are reporting that improving performance and activity is set to rise this year to boost the country’s gas production.
