Production

Historically, the subsea development workflow was sequential, fragmented, and not adaptive to change. That has made it difficult, time consuming, and expensive to manage the changes that are inevitable in the energy industry. OneSubsea Agile Subsea Production Systems—Agile SPS—enhance subsea performance from appraisal through abandonment to mitigate the dynamic risks associated with subsea production system selection, configuration, delivery, and production. And, regardless of your basin’s status, development phase, or current infrastructure, Agile SPS bring optimized performance through its life of field configurability. Agile SPS adapt to dynamic field conditions for the life of the field incorporating a standard platform that starts with a common core and adapts to your requirements with numerous fit-for-purpose functional modules that address technical challenges without affecting the core performance. Discover how Agile SPS offer you the responsiveness, functionality, and certainty that you need to strengthen your business case and optimize economic viability in your basin.

The five-year consolidated services contract, valued at $130 million, will see Wood leverage its experience and capability in late life asset optimization and management to extend field life, lower costs, and reduce late life carbon intensity across the Hub’s offshore assets in the East Irish Sea and the Barrow onshore gas terminal on the northwest coast of England.

Marubeni Corp. could all but exit the UK North Sea as it looks to sell its main oil and gas fields in the region, according to people with knowledge of the matter.

Siemens Energy AS and BPT have been successfully working together for the past two years, as part of the Oil and Gas Technology Centre’s ‘Facility of the Future’ study, developing and maturing Floating Normally Unattended Installation technology.

The Grand Tortue Ahmeyim gas field development, straddling the offshore waters of Mauritania and Senegal, is expected to produce its first gas in 2023 following delays related to the coronavirus pandemic, according to Senegal’s Oil Minister Sophie Gladima.

In a year that brought the U.S. shale industry to its knees, the Brazilian state-run giant pumped an all-time-high 2.3 million barrels a day of crude, according to a statement Thursday. That’s about the same as OPEC member Kuwait.

National Iranian South Oil Co. and Iranian Offshore Oil Co. will sign deals with domestic contractors covering onshore fields in Bushehr, Fars, Khuzestan, and Kohgiluyeh and Boyer-Ahmad provinces, National Iranian Oil Co. said in a statement.

With oil prices hitting decade lows and energy activities downsized during a global pandemic, operators globally are seeking assurance that every spend drives a strong return on investment. Yet many completion and production choices are made in an environment of uncertainty, making technology that can inform well design and operational planning more crucial than ever. Chemical tracers are one such tool. A proven and reliable method of reservoir surveillance, tracer studies have demonstratable value for quickly and accurately adapting field strategies to real-time market needs. Whether a conventional or unconventional field, a properly designed and utilized tracer study has the potential to reduce lifting costs, improve production, and mitigate risk to CAPEX/OPEX spends. In this webinar, industry experts will provide an overview of current tracer technologies, dispel marketing myths, and detail a holistic use of tracers and the value added for multiple case studies across the globe. Application of tracers in hydraulically fractured wells, extended-reach well inflow studies, and flood-driven EOR case studies will all be covered. By the conclusion of this talk, the audience will have a working knowledge of the frontiers of tracer technology as well as an understanding of how this potent, low-risk, and low-cost tool can innovate their current field production plans.

The first phase of development consists of four production wells producing through two 18-inch, 73-mile subsea tiebacks to a processing platform offshore northern Israel.

Hedge funds are approaching the end of the year more optimistic on global oil prices than they’ve been since May.

OPEC+ output cuts have stabilized the global oil market but can’t last forever, Russia said as uncertainty persists over the future of the agreement beyond March.

Oil prices are likely to remain in check during 2020 as OPEC+ production cuts are offset by higher output from other countries and a mixed outlook for demand, according to analysts.

Saudi Arabia and Kuwait agreed to resume oil production in a shared border region more than four years after halting output.

SBM Offshore announced that FPSO Liza Destiny has produced first oil as of December 20, 2019 and is formally on hire. The FPSO is installed at the Liza field, which is located circa 200 km offshore Guyana in the Stabroek block.

Output from the first phase of the offshore Liza field is expected to reach full capacity of 120,000 gross bopd in coming months, with the first cargo to be sold within several weeks.

Crude-by-rail capacity in Alberta is expected to grow by 100,000 bpd in December after the provincial government eased production limits for oil transported by train, the Energy Ministry said Wednesday.

Nissan Chemical America Corporation has partnered with industrial gas supplier, Messer Americas, to improve oil and gas production.

Global oil markets still face a surplus next year even if OPEC and its partners deliver newly-announced production cuts in full, the International Energy Agency said.