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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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Industry analysts fear bad news for producers, as Chinese demand is expected to be a significant driver in new LNG production. China accounted for 15% of US LNG exports in 2017. -
The contract calls for Vitol to purchase 700,000 tonnes annually over a 15-year period, providing some optimism for companies hoping to secure similar long-term deals.
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The construction of an LNG regasification terminal in Tema, Ghana, in addition to the first delivery of gas from the offshore Sankofa field in August, is decreasing the country’s reliance on liquid fuels and imports. About 80% of its power generation requirements will be met with gas.
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The ceremonial event took place at Geoje Island, South Korea. Startup of LNG production in offshore Mozambique’s Area 4 is expected in 2022.
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Qatargas will provide 3.4 mtpa of LNG to China. PetroChina signed a 22-year agreement with the world's largest LNG-producing company.
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Gas is forecast to overtake oil as the world’s primary energy source in 2026. LNG, with capacity expected to double by the late 2040s, will connect the shifting sources of gas with changing demand centers.
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The data collected via monitoring and metering applications are increasingly viewed as central to assessing production performance and in decision making to optimize field development and operations.
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Lobbyists representing US manufacturing and chemical companies are urging Congress to secure natural gas pipelines against physical attacks and cyberattacks.
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What do 60,000 sensors on 1,200 pieces of equipment add up to? Hopefully, hundreds of millions of dollars in savings.
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Advances in space sensing allow direct measuring of gas flaring, opening a window into production trends.
