Asset Management
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.
The Seismos full-scale research center opens to industry, universities, and national laboratories, advancing acoustic sensing across upstream energy, pipelines, critical infrastructure, and national security.
The Society’s archive of technical papers, maps, figures, and geological data sets will be integrated into the GIX platform, enabling geoscientists to query AI agents about exploration opportunities within specific geographic regions while combining historical research with public data, proprietary information, and advanced analytics.
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Petrofac’s well management contract comes nearly a month after IOG received approval for phase 1. The contract also follows an EPC contract awarded to Subsea 7 in May. -
For years Canadian heavy-oil production exceeded the volumes pipelines could handle.
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TGS, with the support of TGS’ Russian partner DMNG, has completed its second phase of processing in the Russian Sea of Okhotsk.
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Construction on Mozambique LNG stopped in April due to COVID-19, but Total continues work on the project even amid a $12 Billion shortfall. Financing for the Mozambique LNG project follows engineering contracts awarded by Total in the past few months.
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Brazil’s Petrobras has found oil in an exploratory well located in the Sudoeste de Tartaruga Verde block, in the Campos Basin.
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No gas or commercial reservoirs have been found in the first-ever exploration well off Lebanon’s coast, according to Energy Minister Raymond Ghajar and the Total exploration firm.
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Thai energy company PTT Exploration and Production announced two deepwater oil discoveries in the Salina Basin, offshore Mexico.
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The number of active natural gas rigs in the US fell further to 80 on 8 May. The number had dipped to 85 on 21 April, the lowest number since August 2016, according to the Baker Hughes rig count.
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The oil market is likely facing the largest monthly drop in fracturing activity ever recorded in the US, according to Rystad Energy analysis.
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US oil producers ExxonMobil and Chevron announced they are tightening output, for combined global shut-ins of 800,000 B/D, in response to plunging crude prices and shrinking fuel demand.
