Asset Management
The long-term outlook analysis says a potential shift toward new construction could push 2026 production 3% above 2025 levels.
Lower operating expenditures and a changing asset mix helped UKCS operators cut average production costs by 9% year over year, despite relatively flat production levels, according to the NSTA.
The deal adds 40,000 B/D of production and expands Cenovus’ SAGD footprint with three Alberta assets.
-
Pending US Law Offers Big Boost to CO2 Storage Credits in Exchange for New Fees on Methane EmissionsUsing a carrot-and-stick approach, the US federal government is poised to spur the nation's oil and gas industry into doing more to combat emissions. -
Many hurdles for marinization of green hydrogen production already have been overcome in the offshore oil and wind sectors. A fresh set of challenges, however, will rise around developing and deploying hydrogen production facilities offshore.
-
In making a historically small production quota hike, OPEC+ members outline some big concerns about the group's ability to keep up with demand.
-
The operator finds around 180 million bbl at Krabdagu, water at Rasper.
-
The development comprises a pair of subsea wells tied back to existing infrastructure.
-
The award follows BP’s participation in a limited bid round held in 2021.
-
The partnership of Subsea 7 and Flasc has a plan to use out-of-service pipelines as pressure vessels in a hydro-pneumatic energy storage concept.
-
New awards and extensions to previous work are valued at almost $500 million.
-
The assumption of lower emissions from natural gas only holds true when the methane leaks and flaring are addressed. Mitigation of methane emissions offers an opportunity for the oil and gas industry to drastically reduce overall emissions that are typically reported on a CO2-equivalent basis. Some producers opt to showcase their good performance via voluntary certifi…
-
The license covers exploration and development of area fields for next 27 years.
