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.
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Shell ended the year by announcing more writedowns, pushing the total near $22 billion, and raising questions about the future of its Appomattox platform in the Gulf of Mexico -
In a year defined by a historically harsh oil-price crash that rippled with collateral damage across the industry, the most-read JPT report of 2020 was about a well so different, it needed a new name.
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The two deals have a combined valued of $3 billion and involve more than 81,500 acres in the Midland Basin of Texas.
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Technology company Proserv Controls has formed an alliance with software engineering firm Intelligent Plant in an effort to combine their expertise to improve control systems and data analysis.
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The UN says the 2020 Climate Action Summit delivered a surge in progress toward climate goals.
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Sale to Total was completed 10 November
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With one of the world’s lowest electrification rates, Mozambique is moving to give its citizens a brighter future. Together with South Africa’s Sasol, the country endeavors to attract global EPCM companies and international financing to create a power generation hub fueled by gas from onshore fields.
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The new deal will focus on developing Arctic onshore blocks in a region where a successful LNG project already exists.
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Shale-based associated gas production is behind the phenomenon. When oil prices do not support production, associated natural gas production also stops, with little to no consideration of natural gas prices.
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The country has announced that it plans to phase out all oil extraction by 2050.
