Asset Management
Three wind projects planned to produce around 300 MW have entered the execution phase under a partnership with OMV Petrom and RNV Infrastructure.
A Dallas Fed survey update suggests few executives foresee a strong US production response, even with oil prices above $90/bbl.
The US Department of Energy and Pennsylvania Department of Environmental Protection will convert a horizontal Utica Shale gas well into an enhanced geothermal system. Building directly on horizontal drilling and completion practices developed in the Utica, the project will include evaluation of optimal well orientation, lateral placement, and spacing.
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Despite reports to the contrary, Permian well productivity remains healthy, with average new production per well in the basin matching all-time highs, Rystad says. And the majors are now a main catalyst. -
The subsea tieback is expected to start up in 2021. This is Shell’s second major development on a tieback in the US Gulf of Mexico, following Kaikias’ startup in May.
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The strategy supports the Maximise Economic Recovery from UK Oil & Gas Strategy and Vision 2035, whose goal is to achieve £140 billion additional gross revenue from UKCS production by that time.
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Worley gets the nod for commissioning and hook-up then hand-off to BP.
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Five years since the start of the precipitous oil price drop that led to the industry’s worst recession since the 1980s, the oil market is still struggling with supply/demand balances and price stability.
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Stork, part of Fluor’s Diversified Services segment, was awarded a contract extension by Centrica Storage Ltd to continue providing fabric maintenance and associated services for the company’s UK onshore and offshore oil and gas assets.
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The Bakken and Niobrara operator will eliminate 254 jobs in an effort “to better align [its] business with the current operating environment.”
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Lundin reports that the hookup and commissioning of installed facilities at the large North Sea field is progressing as planned. Phase 1 startup is still scheduled for November.
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A comeback in offshore and international exploration and production is making up for the North American slowdown, but it is a difficult transition.
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Using maglev technology, a new artificial lift system seeks to boost production output by sucking down reservoir pressure from inside the wellbore and from inside the reservoir.
