Asset Management
With $9.6 billion in assets in the market, the focus is shifting from who is exiting Southeast Asia to who is positioning for entry through acquisition, according to Rystad Energy.
Despite significant progress in capturing associated gas for domestic use, Iraq remains the world’s third-largest gas-flaring country as it aims for higher oil and gas production targets.
Transaction adds 90,000 net acres and 68,000 BOE/D of production as Crescent expands its South Texas footprint.
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Shell remains involved in the Salym Petroleum Development JV with Gazprom after dropping out of the planned Meretoyakhaneftegaz JV. -
Both platforms offshore assets were shut in following a leak in ExxonMobil's 100,000 B/D pipeline system.
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Subsea 7’s installation services contract is the latest Chevron award for its Anchor field project. First oil from the project is expected in 2024.
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Reductions will begin next month and last until June. After that, major oil producers around the world plan to step down from the cuts in phases that extend to 2022.
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The firm said it will be “restructuring” to “right size its operations” for a slowing market without mentioning how that will affect its workforce. It also says its two major lines of business are worth less than previously estimated.
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As SPE members deal with challenging and uncertain times, they are reminded that there are a number of programs available to provide support and key resources. Read more to see which ones are useful to you and your career.
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With oil prices at historic lows and with COVID-19 supply chain disruptions, the time has come to evaluate supply chain and procurement strategies, sourcing techniques, and costs.
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Westwood Global Energy’s analysis looks at production, cost, and revenue estimates in the UK and Norway, should oil prices remain low. The research group also provided an outlook on drilling activity.
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Energy research groups Wood Mackenzie and Rystad Energy say improvements in operations costs since the last downturn 5–6 years ago have made it difficult for companies to make further reductions amid the current drop in demand.
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Results of the survey will provide support for the UK’s initiatives to help businesses affected by the industry downturn and the COVID-19 pandemic.
