Asset Management
High-risk, high-reward projects focused on stimulation, enhanced recovery, and field-scale deployment are eligible under the DOE’s new UNLOCK initiative.
Industry forecasts point to increasing upstream expenditure and production, even as geopolitical volatility and smaller discoveries challenge project economics.
The Norwegian operators will collaborate on technology development, standardization, and well-stimulation solutions aimed at making tight oil and gas resources commercially viable in the NCS.
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Acteon Group is buying Actuant’s Viking SeaTech business at a steeply discounted price of $12 million compared to the $225 million that Actuant paid in 2013 to acquire the company, and Actuant is buying Acteon’s Mirage for $16 million. -
BHP Billiton plans to divest its US onshore assets. The company will continue to complete well trials, acreage swaps, and look into midstream solutions to increase the value, profitability, and marketability of the assets.
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Petrofac sold its 50% interest in Petro-SPM Integrated Services to Schlumberger. Petro-SPM operates the Pánuco Integrated Service Contract in Mexico. Schlumberger now owns 100% of Petro-SPM.
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Total’s acquisition of Maersk Oil includes holdings in the North Sea Johan Sverdrup and Culzean projects. Total will become the second-largest operator in the northwest Europe offshore region. Maersk’s strategy shifts to its transport and logistics division.
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Industry interest in US Gulf of Mexico acreage declined in the number of bids and the dollars offered at the latest federal lease sale, compared with the prior sale. But there was still some confidence shown in higher risk prospects.
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These steps can help companies that are looking to digitize their paper-based safety audit programs, inspections, observations, work permit procedures, or other operational processes.
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This well-established oilfield consultancy explains why 2020 might be a big year for the unconventional sector.
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WiSub will lead a consortium with Statoil, Kongsberg, Saab, and other companies and universities to develop a standardized interface for AUV docking with subsea structures, as well as bi-directional power transfer to help charge sensor networks.
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This new deal marks the second major acquisition of an offshore drilling company since the onset of the industry downturn.
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Shell invested in a Singapore solar company and signed an agreement to purchase a Texas company with solar and other renewable assets. Along with its minority stake in a company that uses solar to generate steam for EOR in the Middle East, Shell catches some rays in the Asia Pacific, US, and Oman.
