Asset Management
A credible custody-transfer record depends on far more than the accuracy of a single meter. It is the product of an integrated measurement chain. While meter performance supports measurement-system integrity, commercial confidence also depends on traceability, governance, and authorization.
The Seismos full-scale research center opens to industry, universities, and national laboratories, advancing acoustic sensing across upstream energy, pipelines, critical infrastructure, and national security.
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.
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The unmanned development is expected to add 80 million BOE of production to the aging Norwegian North Sea field. Aker BP said it aims to produce 1 billion BOE from Valhall over the next 40 years. -
With production set to begin from the large Leviathan field by the end of this year, the Israeli government signed off on the final permits to allow for its first exports. Leviathan contains approximately two-thirds of all the gas resources discovered offshore Israel so far.
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Total has agreed to acquire interests in two blocks in the offshore Kwanza Basin from Angola’s state-owned Sonangol and has received an extension on its offshore Block 17 production licenses.
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The Australian operator's A-6 offshore development, Myanmar's first ultradeepwater project, will supply gas to the country's domestic market, with some gas from Phase 1 also moving via pipeline to Thailand.
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The latest move to consolidate the US shale sector will add 1,500 drilling locations to the buyer's portfolio. It also reflects that all-stock or mostly-stock deals are now the sector’s preferred acquisition vehicle.
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The company said it will avoid the pumping business's “structurally disadvantaged position” and instead focus on well servicing and water logistics.
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The company also secured $2.6 billion in exit financing facilities, including a $450-million revolving credit facility, as well as a $195-million letter of credit facility and more than $900 million of liquidity.
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Lower oil prices and capital discipline are expected to result in a double-digit drop in shale and tight oil spending, while deepwater momentum is seen continuing. This comes as “massive investments” will be needed in the next decade to meet growing oil demand.
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With a $10 million commitment from Shell, Rice University has launched Carbon Hub, a research initiative with the goal of creating a zero-emissions world by using oil and gas to create clean energy.
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Proved oil reserves totaled 43.8 billion bbl at yearend 2018 while proved gas reserves amounted to 504.5 Tcf, both topping records set in 2017, the US Energy Information Administration said.
