Asset Management
The Society’s archive of technical papers, maps, figures, and geological data sets will be integrated into the GIX platform, enabling geoscientists to query AI agents about exploration opportunities within specific geographic regions while combining historical research with public data, proprietary information, and advanced analytics.
Despite significant progress in capturing associated gas for domestic use, Iraq remains the world’s third-largest gas-flaring country as it aims for higher oil and gas production targets.
With $9.6 billion in assets in the market, the focus is shifting from who is exiting Southeast Asia to who is positioning for entry through acquisition, according to Rystad Energy.
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Results of the survey will provide support for the UK’s initiatives to help businesses affected by the industry downturn and the COVID-19 pandemic. -
ExxonMobil and Halliburton made additional cuts in spending and personnel.
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Golden parachutes typically pay executives big money if they are fired without cause. Whiting Petroleum executives found a way to collect theirs for staying on board after the company they led filed for bankruptcy.
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UK North Sea oil and gas production is set to be maintained at normal levels despite the industry moving to "minimal manning" of offshore facilities in the face of the COVID-19 pandemic, trade body Oil and Gas UK's health and safety director, Trevor Stapleton, said.
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Amid continued health and travel concerns, the OTC Board of Directors felt this decision was the most feasible and responsible.
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The drop in gas prices, although greater than forecast, will not be to the same extent as oil prices.
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Most history-matching studies have fixed resources—that is, the team of engineers and geoscientists is predetermined. Moreover, the deadlines are always very strict. This constrained scenario often leads to an unfortunate result: The quality of the study suffers.
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The industry increasingly relies on forecasts from reservoir models for reservoir management and decision making. However, because forecasts from reservoir models carry large uncertainties, calibrating them as soon as data come in is crucial.
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The results of the authors’ research showed promising benefits from the use of a systematic procedure of model diagnostics, model improvement, and model-error quantification during data assimilations.
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The company's North American business will accelerate a restructuring that includes job cuts and furloughs over the next couple of months.
