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Plans call for license partner Aker BP to serve as operator during the development phase, with operatorship reverting to DNO after first oil in 2028.
Production from the Búzios field now tops 1 million B/D with six floating production systems in operation and more on the way.
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Decommissioning and abandonment comes with its share of unexpected surprises, but many of those surprises could be avoided merely through better planning and care. -
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Cutting-edge computing and subsea wireless camera technology deployed on a pipeline construction project enhanced diver safety and generated significant cost savings by avoiding the need for additional subsea vessels.
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The pipeline system will have the initial capacity to deliver 150,000 B/D of crude oil to multiple delivery points, accessing local refineries and connecting to several downstream pipelines.
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The move comes weeks after Gazprom announced a final development concept for the project. Other projects Shell is developing with Gazprom, including the Sakhalin 2 export facility, will not be impacted by the decision.
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The gas agreement clears the way for the FEED phase; FID expected in 2020.
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The independent oil and gas company is aiming to build shareholder value through a change in business focus to midstream with this step into pipeline service and construction.
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During the last decade, the use of drones for industrial asset inspections has grown significantly. The ability to inspect in-service flares can eliminate millions of dollars of operational expenditure and mitigate safety risks presented by traditional access methods.
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Aker Solutions and FSubsea have agreed to a joint venture, named FASTSubsea, to help operators increase oil recovery.
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A growing sector of water midstream companies is in the Permian Basin looking to take advantage of a business opportunity borne out of rising produced water volumes. Billion-dollar valuations for these companies in the near future could become a reality.
