Management
The Middle East’s largest unconventional gas development officially begins production as Saudi Aramco targets 6 million BOE/D of gas and liquids capacity by 2030.
While physical damage to energy infrastructure has so far been limited, analysts caution that a prolonged conflict could drive prices higher even as OPEC+ proceeds with planned incremental supply increases.
The integrated field management services contract signals an evolution of KBR’s role at Majnoon from one of stabilizing production to a more complex and sophisticated role that takes responsibility for integrating full upstream operations.
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Shell has reaffirmed its commitment to the shale business and views it as a growth opportunity moving into the 2020s -
Downturns offer you a choice: Panic and shut down all but breathing or make use of the opportunities that desperation has handed you. A mountain of mistakes is a gold mine to those willing to spend the time in assessment mode.
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Service companies are using the latest generation of additive manufacturing technology to print out steel components for big ticket downhole tools. There is great potential for the technology to drive down equipment costs and improve performance.
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Merger and acquisition activity has been limited since prices started to fall in 2014. But there are signs that M&A activity may be building, and oil company management teams should think about which deal strategies they should pursue.
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A new multilayer boundary‑detection service has been introduced to resolve the geological uncertainty associated with horizontal wells in Bohai Bay. Geosteering and real time reservoir characterization were used to reduce the uncertainty.
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Offshore exploration will be slow to come back as companies have delayed billions in projects through 2020. Exploration projects also must complete for funds with brownfields developments like EOR that potentially provide a shorter time to show a return.
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As an example of an open system, the oil and gas market is a function of several external forces. Free market supply and demand may not yield a sustainable equilibrium price, but the deferral of capital projects will result in a lack of global supply in just a few years.
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The renewable energy sector is showing strong global growth, especially wind and solar power, but oil shows no sign of losing market share in the global energy mix.
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The next couple of years for the oil and gas industry are likely to be defined by mediocre prices. “It is going to take a long time to get back to the good old days," said Atul Arya, senior vice president of IHS Energy, during OTC.
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Of all the attention generated over the opening of the Mexican oil and gas sector to the outside world, one consideration has been largely left out of the discussion: What does it all mean for service companies?
