Asset Management
The long-term outlook analysis says a potential shift toward new construction could push 2026 production 3% above 2025 levels.
Lower operating expenditures and a changing asset mix helped UKCS operators cut average production costs by 9% year over year, despite relatively flat production levels, according to the NSTA.
The deal adds 40,000 B/D of production and epands Cenovus’ SAGD footprint with three Alberta assets.
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“Where is Shell based?” The answer to that is likely to get simpler very soon. -
Africa’s first floating LNG facility will be towed from South Korea to its new home on the Coral South project.
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Although offshore drilling demand is slowly getting better, headwinds remain.
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Norwegian oil firm chooses Aker, Sevan, TechnipFMC and others to continue studying $8-billion-plus Barents Sea development.
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The supermajor and service company that have long been partners on oil and gas projects said they are exploring new models to fit the energy transition. They also separately announced this week new plans to expand into the hydrogen market.
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Union of rival contract drillers will create one of the largest offshore rig companies.
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The 2021–2022 Drillbotics competition will require the contestants to integrate human factors engineering considerations into their automated drilling rigs for the first time.
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Oil production from West Africa has fallen from last year’s depressed levels and will remain down without increased investment.
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Even though the market seemingly expected a 400,000 B/D increase from the oil exporting group, crude prices took a bit of a tumble.
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Already the largest producer in the gas-rich play, Southwestern has bolstered its status with the acquisition of the third-largest producer.
