Asset Management
The Absheron gas field expansion will supply additional natural gas to Azerbaijan’s domestic market and support its export commitments to Turkey, allowing Baku to stay focused on meeting its gas export obligations to Europe.
Trafigura will purchase 100,000 metric tons of battery-grade lithium products under a decade-long take-or-pay contract valued at over $2 billion.
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.
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Kuwait Oil Co. signed a $597-million offshore drilling services contract with Halliburton for six high-pressure/high-temperature exploration wells on two jackup rigs in the Arabian Gulf. -
With almost 10 Bcf/D of liquefaction capacity scheduled to go into service by 2025, a new report from Moody’s says that US LNG exports should help solidify a floor under natural gas prices as LNG markets see a shortfall in supply.
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The confluence of alternative energies, shifting public sentiment, and the industry’s own improvements to existing fields may upend the industry’s “engine of growth.”
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With the shale industry still awash in red ink, and oil prices falling, it may take more consolidation to try to bring some financial stability to the sector.
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Norwegian authorities approved development plans for Duva and Gjøa P1, both of which are expected to produce first oil in late 2020. The fields will each tie back to the Gjøa platform on the Norwegian Continental Shelf.
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The deal consists of stakes in nine shallow-water producing fields covering 108,000 gross acres in 10–50 m of water.
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Twelve organizations—universities and private technology companies—will conduct research and development on emerging shale plays and technologies covering everything from digital pressure-sensing to smart microchip proppant.
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Baker Hughes, a GE company, (BHGE) and C3.ai announced a joint venture agreement that brings together BHGE’s fullstream oil and gas expertise with C3.ai’s unique artificial-intelligence software suite to deliver digital transformation technologies and drive productivity for the oil and gas industry.
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Phase 1 production from the deepwater US Gulf of Mexico field is expected to reach 30,000 BOPD. The field contains an estimated 5 billion bbl of oil in place.
