Stay up to date with the latest news and updates from the oil industry.
Upstream oil investments are projected to rise from US$287 billion in 2021 to US$307 billion this year, a 7% increase, while midstream and downstream investments will fall by 6.7% to US$172 billion this year, according to Rystad Energy.
Time delay fuses provide a controlled delay for operators to position perforating guns after commencing the firing sequence in a tubing-conveyed perforating operation.
A net gas pay totalling more than 100 m has been calculated at the Anchois-2 appraisal and exploration well offshore Morocco, compared to 55 m in the original Anchois-1 discovery well.
The Noble Hans Deul rig is expected to remain offshore with non-essential crew and equipment demobilised while an issue with rig stability is rectified.
The licenses cover a total acreage of about 8410 km2.
The Hadrah-1 well was successfully drilled to a total depth of 1850 m in November 2021 and encountered gas within an approximately 200-m thick sequence of high-quality sandstone and carbonate reservoirs.
EnVen has committed to one firm well with options for two additional wells and expects to take delivery of the Transocean Discoverer Inspiration drillship early in 3Q22.
Brazil is expected to continue driving global awards in 2022, with an additional three FPSOs expected according to Rystad Energy.
Preliminary calculations of the expected size indicate between 3.3 and 5.2 million standard cubic metres of recoverable oil equivalent, or around 21–33 million barrels of recoverable oil equivalent.
Natural gas production from the Marcellus and Utica shale plays in the US is forecast to cross the 42 billion ft3/d mark by 2025, according to GlobalData.
A smaller, themed event may be staged later in 2022 if industry demand is sufficient.
The digital twins of two platforms in the Dutch North Sea will support planning of Neptune’s Carbon Capture and Storage project in the L10 area.