Asset Management
Industry fundamentals continue to strengthen as rising utilization and scarce replacement capacity support higher rig valuations.
The GRMS system of standardization and classification for geothermal resources, led by a coalition of stakeholders in collaboration with Project InnerSpace and the Society of Petroleum Engineers, will be published in November.
Argentina’s President Javier Milei met with TotalEnergies CEO Patrick Pouyanné and Eni CEO Claudio Descalzi in Paris to discuss Argentina’s energy sector, including projects linked to the Vaca Muerta shale formation and the development of the Argentina LNG export project.
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Equinor issued a letter of intent to Odfjell Drilling and its semisubmersible rig Deepsea Aberdeen for the drilling of 15 wells for the Breidablikk Group, which recently submitted the plan for development and operation. Drilling is scheduled to start in spring 2022 with the campaign estimated to last through autumn 2024. -
BP, in partnership with OQ, PETRONAS, and the Ministry of Energy and Minerals in Oman, announced in mid-October that production had begun from the Block 61 Phase 2 Ghazeer gas field, 33 months after the development was approved.
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Petrobras began negotiations with SBM Offshore to contract the floating production, storage, and offloading (FPSO) Almirante Tamandaré to be installed in the Búzios field in the Santos Basin.
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Many major oil and gas operators have announced their intentions to achieve various emissions goals. Obviously, the transition cannot be achieved with a simple flip of a switch and will require some time.
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In 2020, several changes were made to increase the usability of the annual SPE Membership Salary Survey. Among the added highlights, the 2020 survey offers new analyses of compensation by engineering title and overall work experience.
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Present industry solutions to the challenge of well spacing involve expensive geomechanical Earth modeling or fracture-geometry monitoring that is time-consuming, data-intensive, and geography-specific.
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The two largest oil companies in the US are shedding thousands of employees and contractors to cope with a steep decline in demand.
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More than half of the oil and gas production in the region is shut in.
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Hurricane Zeta is intensifying as it approaches the US Gulf of Mexico coast of southeastern Louisiana, where it is expected to make landfall around 4 p.m. CST today. View a video of Zeta posted by the US Air Reserve Hurricane Hunters.
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Describing it as a “bolt-on” acquisition, the Marcellus Shale producer EQT expects the deal will boost its gas production by 10%.
