Asset Management
Located along the North Sea, the Humber is expected to play a central role in the UK’s effort to achieve a net-zero emissions status by 2050.
The deal adds over 1,000 potential drilling locations and almost doubles oil production for Houston-based Magnolia.
The sale for $1.8 billion of Solenergi Power, the holding company for Sprng, which develops and operates solar and wind projects across India, follows other realignment actions by the supermajor.
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Talos is hoping to retain its operatorship of the major discovery it made in 2017 offshore Mexico after a reserves audit confirmed the reservoir is shared between two offshore blocks. -
Aker Solutions has signed a contract to provide subsea control systems for Phases 4 and 5 of Beach Energy’s Otway project offshore Victoria, Australia. The order includes 7 sets of Vectus subsea control modules (SCMs), which will be backward compatible to the existing topside MCS and EPU, along with associated stab plates and testing equipment.
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The deal is part of BP’s plan to divest $10 billion in the North Sea so that it can focus on developing core growth areas and construct more cost-effective subsea tiebacks in the region.
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A significant discovery of oil off Suriname increases the odds that major oilfields off Guyana will extend across that international boundary.
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The company will shell out more than $800 million to acquire interests in the Andrew and Shearwater areas, as well as the Tolmount field, offshore Scotland.
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As capital markets dry up and shale producers look for pathways to growth, oil and gas data analytics firm Enverus predicts the US sector will see a “surge” in mergers and acquisitions in 2020.
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BW Offshore has signed an extension with Eni subsidiary Nigerian Agip Exploration for the use of the Abo FPSO until the end of 4Q 2020, with options until 4Q 2021. The FPSO has operated at the Abo field offshore Nigeria since 2003. It has a production capacity of 44,000 B/D of oil, a water injection capacity of 33,000 B/D, gas compression capacity of 48.4 MMcf/D, and …
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Merging new knowledge and technological capabilities among the disciplines—and beyond—will be crucial to sustaining the industry for the long term.
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Heavy production spiked in two Canadian wells heated by an electric cable, but it is hard to find customers there at a time when Canadian oil prices and customers remember cables in the past that died young.
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The complete paper explores technical and economic development options to produce heavy-oil resources at commercial rates and showcases three optimization scenarios of higher recovery efficiency aimed at increasing net present value at the basin level.
