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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One of the largest pre-sanction fields on the UK Continental Shelf, Rosebank, could significantly bolster the company’s UK portfolio. However, the field’s water depth and harsh environment may run development costs into the multibillion-dollar range. -
Anadarko Petroleum selects JV companies to provide EPC for the onshore LNG development. Saipem scores the biggest contract in its history. Work will begin upon FID, expected this month.
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The round marked a continuation of a recent trend on the UKCS in which lesser-known firms and newcomers have gained stature, replacing more-familiar, bigger operators that have pared down their North Sea positions.
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Sabine Pass Train 6 gets the nod, Bechtel gets the go-ahead for construction. Apache Corp. signed a deal with Cheniere to supply natural gas produced from its Permian Basin Alpine High area to the Corpus Christi LNG facility
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It is rare that businesses selling equipment to the oil and gas sector can benefit from lower oil prices. But that is the case for CRA pipe manufacturers, which are comfortably outperforming 2014 levels.
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Although the shale sector continues to thrive, the pace of deepwater E&P is now gradually picking up.
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Malaysia’s Petronas, Shell Malaysia, and Thailand’s PTTEP are now in the midst of full-scale digital adoption. The companies are beginning to see results, but none is counting on a “big bang” in development of the technology soon.
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The El Dorado, Arkansas-based Murphy has quickly found a home for some of the cash it will receive from the sale of its Malaysia business. The company has been rapidly expanding its US gulf footprint while simplifying its portfolio and targeting more oil.
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The state-owned firm is looking within its home country, around Southeast Asia, and to the Americas—including shale—in an effort to maintain its forecast average yearly production of 1.7 million BOE/D over the next 5 years.
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The three largest service companies are optimistic about the rest of 2019.
