Asset Management
The UAE will prioritize national interests and production flexibility, setting up implications for OPEC’s market power, oil, prices, and global supply dynamics.
Talos Energy founder Tim Duncan has been named executive chairman of newly formed 1947 Oil&Gas, which will focus on acquiring and developing mature, shallow-water assets through its buyout of Renaissance Offshore. The deal is expected to close in Q2 2026.
Operators aren’t rushing to drill, even as the closure of the Strait of Hormuz drives oil prices up.
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The oil and gas industry is technical and challenging. Because the technical issues are dealt with by humans, we also face social, psychological, and cognitive issues which are frequently as challenging. In this regular column, we address the softer side of engineering. -
Facilities engineering has grown with the industry’s advance into deep water and the development of complex subsea systems to produce the resources found there.
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Shell’s Parque das Conchas project, an ultradeepwater heavy-oil development in the northern Campos basin offshore Brazil, has won the IPTC Excellence in Project Integration Award. The award recognizes significant and unique achievements in managing and directing a project from discovery to delivery.
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Earlier studies showed that the results of oil and gas megaprojects were quite similar to the results from other industries. More investigation shows a poorer track record, largely due to the poor functional integration that characterizes upstream project organizations.
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The ultimate success of a deepwater project depends on phases from early concept selection, design, construction, commissioning, and startup to operation. However, the boundaries and transfer of responsibilities may not be sharply demarcated between phases.
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Cost estimation for facilities depends on early concept selection and critical inputs, often complicated by uncertainty in one or more of the critical inputs. Empirical cost models and cost modeling methods using these inputs vary in degrees of scope, comprehensiveness, and robustness.
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Final commissioning and initial startup was the source of lively discussion at a recent applied technology workshop held in New Orleans. A summary of key points is provided.
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