Research News

 

Offshore: New Project Pace Quickens

Jun 12, 2019

As the oil and gas industry comes out of the recent downturn, E&P companies are tempted to chase the rewards of higher oil prices by accelerating the sanctioning of new projects.However, haste can lead to less certainty of what the ultimate cost of any given project will be. Projects with high levels of so-called engineering definition are generally expected to remain within about 20% of the initial cost estimates…

Collaboration to Support Offshore Wind

Jun 07, 2019

Atlantic Shores Offshore Wind, a 50:50 joint venture between Shell and EDF Renewables North America, has entered into a Memorandum of Understanding (MOU) with Rutgers University to advance ocean research and monitoring that will support offshore wind development…

Gulf of Mexico Oil Production Hits Record

Jun 03, 2019

Oil production in the US Gulf of Mexico (GoM) is poised to set new records in the imminent future, said Rystad Energy.Royal Dutch Shell started producing oil and gas this month at its Appomattox platform in the deepwater GoM several months ahead of its expected startup in 3Q 2019…

UKCS Investments On the Rise

May 31, 2019

North Sea operators and contractors are investing across people, R&D, technology and new markets to support continued growth, said a new report.The 30th Oil and Gas survey, conducted by Aberdeen & Grampian Chamber of Commerce in partnership with the Fraser of Allander Institute and KPMG UK…

Trade War Puts LNG Projects at Risk

May 16, 2019

The escalation of the trade war between the US and China could jeopardize several LNG mega projects that are awaiting final approval, said Rystad Energy.China announced on Monday that it will raise the duty on imports of US liquefied natural…

Oil Price Risks Rise

May 14, 2019

Supply disruptions in the Middle East on top of an already tight crude market could send oil prices violently upward, said the energy research firm Rystad Energy.Two Saudi Arabian oil tankers were reportedly attacked off the coast of the United Arab Emirates this weekend…

Oil&Gas Industry Records 1242 Contracts in Q1

May 13, 2019

The Oil and Gas industry reported 1242 contracts, of which 1178 were awarded contracts, said Quarterly Oil & Gas Industry Contracts Review.Europe, the Middle East and Africa (EMEA) region recorded the most contracts with 569 contracts, representing…

NPD Bullish on Barents Sea

May 09, 2019

Norwegian Petroleum Directorate (NPD) said that its estimates indicate that more than half of the oil and gas that has not yet been discovered is located in the Barents Sea.The rest is distributed between the Norwegian Sea and the North Sea…

800bln Undiscovered Barrels of Oil and Gas Exist Globally

May 08, 2019

Total greenfield project sanctioning, summed up to the present day, only accounts for 40% of estimated volumes of offshore projects ever being sanctioned, said Rystad Energy, the  energy research and consultancy headquartered in Norway.'Likewise…

65,000 Wells will be Drilled in 2019

Apr 30, 2019

Rystad Energy forecasts that the number of onshore and offshore oil and gas wells drilled globally will increase to around 65,000 in 2019.Activity levels are then projected to remain around this level through 2023, the energy research and business intelligence company said…

DEME, Equinor Pact for Hywind Tampen Study

Apr 29, 2019

Dredging, environmental and marine engineering group DEME has signed an agreement with Norwegian energy company Equinor to study floating concrete substructures for the groundbreaking Hywind Tampen floating wind farm.The scope of the front-end…

NPD Report on High North Offshore

Apr 03, 2019

Norwegian Petroleum Directorate (NPD), Norwegian government agency responsible for the regulation of the petroleum resources on the Norwegian continental shelf, has presented a report on petroleum activity in the High North at the Barents Sea conference…

E&P Sector Hits Record Free Cash Flow

Apr 03, 2019

The world’s publicly listed oil and gas companies are bringing in cash at the best rate ever witnessed even though oil prices have only partially recovered from the huge drop suffered in 2014 and 2015.According to a report by Rystad Energy, energy research and business intelligence company…

Xodus on Cost Cutting in North Sea Decom

Apr 02, 2019

Xodus Group has carried out  a concept study and Front End Engineering Design (FEED) project  which determined that a North Sea operator will save up to $77.5 million (£59 million) by adopting a Not Normally Attended (NNA) status ahead of decommissioning the field…

SCF Redelivers Survey Vessel to Polarcus

Mar 26, 2019

The offshore geophysical company Polarcus  is getting a seismic vessel back early after Russian shipping player Sovcomflot (SCF) exercised an early redelivery option.A press release from the marine geophysical company operating a fleet of seismic…

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