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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As oil companies struggle with the collapse in crude prices and industry upheaval, assessing the future of exploration and production (E&P) in specific countries requires a longer term vision of a market in which prices will have stabilized and rebounded to a level yet undetermined. -
Decision making in uncertain environments is key to the successful delivery of oil and gas projects. By definition, however, uncertainty is ambiguous and unpredictable.
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The industry is in one of its periodic downturns. Jobs are uncertain or scarce. Profitability is challenged. Bankruptcy looms. Projects are being canceled. Deals are dropped or delayed. It seems there is bad news everywhere. So how do we survive in this environment?
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Each of the 25 onshore blocks offered to private companies in Mexico’s December auction were awarded, almost all of which went to Mexican companies.
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Speakers at the recent SPE Asia Pacific Unconventional Resources Conference and Exhibition addressed the role of uncertainty and risk in sanctioning megaprojects.
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SPE has been developing discipline-specific technical competencies for the past several years to assist young professionals, and more recently graduate engineers, in quickly ramping up with necessary skills needed to succeed in today’s competitive environment.
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Predictions of a 2016 recovery in the exploration and production (E&P) sector became increasingly rare after 2015 ended with a thud as oil prices sank below USD 40/bbl.
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Plunging oil prices led to a drastic drop in drilling rigs working in most places in the world, with a notable exception. Baker Hughes’ widely watched weekly report on drilling rigs shows activity has remained steady in Saudi Arabia and the Middle East.
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Those who track drilling and fracturing equipment are apt to mention zombies. That is the living-dead machinery still counted as available to work, but more likely now to be used for spare parts or scrapped.
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During a protracted period of depressed prices in E&P, the customer focus for service companies and suppliers shifts to finding ways to reduce the cost of producing a barrel of oil.
