Tag: oil
Breaking even at USD 20 / barrel: the new age of...
In late August, Equinor and the Johan Sverdrup partnership of Lundin Norway, Petoro, Aker BP and Total, submitted their development plan for the second phase of the project to the Norwegian Ministry of Petroleum and Energy. With an increased resource estimate and lower investment costs, the full field development of Johan Sverdrup will contribute to even greater value creation.
Subsea 7 awarded contract offshore Ghana
Subsea 7 S.A. recently announced the award of a contract by Tullow Ghana Limited on the Jubilee field, offshore Ghana, in water depths of up to 1000 meters.
“Them thar rocks”: shale gas holds its own in a difficult...
Despite the dip in oil and gas prices, things are going remarkably well in the shale gas sector. Although there have been layoffs and bankruptcies, the demand for natural gas is increasing, and this rising tide is lifting shale in North America and other countries throughout the world. New technologies make the sector more competitive, which is good news for all suppliers to the sector and will stimulate related industries such as water treatment and desalination.
Working with CRAs in the subsea, offshore, and onshore industries
FMC Technologies and Technip came together in January 2017 to form TechnipFMC, a company dedicated to improving the performance of the world’s energy industry. A global leader in oil and gas projects, technologies, systems, and services, TechnipFMC is divided into three business segments: subsea, onshore/ offshore, and surface. The company employs more than 40,000 people across 48 countries.
New jobs in oil and gas
After a tough four years new research shows that for the first time since 2014, the oil and gas industry expects more new jobs to be created than lost over the next 12 months.
Altering perceptions: TIG welding in the oil & gas industry
Gas tungsten arc welding (GTAW) commonly known as tungsten inert gas welding (TIG), has always been considered to be a complicated joining process. The equipment was expensive, shielding gas of the required purity was difficult to obtain and above all, only specially trained individuals were able to complete the complex procedures. However today there are innovative, customer-focused solutions for both mechanized and automated TIG welding available.
Offshore and Subsea – oil & gas project spending review
The sharp decline in crude prices and the subsequent volatility has meant that it’s been an onerous two years for oil producers, a period marked with budget cuts. The situation for the offshore side of the business has been far more severe. Once hailed as the bulwark from peak oil, the massive costs associated with its development in the face of low margins have made it increasingly difficult for companies to commit investments in recent times.
First SPAR platform for Norwegian waters
When the Aasta Hansteen gas field was discovered in the Norwegian Sea in 1997, its remote location and deep water were always going to make recovering its resources challenging.
Oil announces APC constellation umbilical contract
Oceaneering International, Inc. (Oceaneering or OII) has secured a contract from Anadarko Petroleum Corporation (Anadarko or APC) to supply the umbilical for Anadarko’s Constellation subsea tieback in the U.
Shifting headwinds: oil and gas companies adapt to survive
For two consecutive years, weaker oil and gas prices have led to declining investments,
slower production growth and weaker profits. The larger companies are adapting with
layoffs, reorganization and mergers. New, environment-friendly and efficient technologies are being introduced.