From the depths of the downturn a new contractor has emerged with ambitious plans.
Based on our own analysis, explorers, especially small independent oil companies, are still struggling to find potential investors for their projects. The current oil prices and its uncertainties have made the struggle even harder than what it was pre-2014.
Local content is increasingly a priority for host States in Africa when negotiating HGCs. Unfortunately, on many occasions the provisions end up as little more than simple requirements to source labour and materials locally or contribute to a training fund, without taking into account the capacity of local industry to meet the demand or how best to increase that capacity.
Rockflow Resources have provided expert multi-disciplinary teams to perform technical due diligence on a large number of assets throughout the world. More often than not, our work unearths problems that are not evident in the vendor’s sales case, or even the in dataroom, often resulting in a decision not to make a bid on an asset
Without diversity, the oil and gas industry will lack the innovation required to both capitalise on the opportunities which exist at present that will help us navigate the eventual shift to a low carbon economy in the future.
Markets are stronger than expected giving rise to new projects although breakeven prices do need to be reviewed; there is a trend towards a hybrid structure as well as Reserve Based Lending but complimenting RBL are alternate sources including senior and junior debt. The future continues to be bright for the industry, with key factors of success being securing finance, reducing production costs and lowering emissions.
Block Energy Plc, the exploration and production company focused on the Republic of Georgia, is pleased to report an increase in production rate at its 100%-held Norio field, where the Company is implementing a multi-well workover programme.
Most banks operating in the upstream energy sector in the US have a portfolio of RBL borrowers and are generally comfortable financing within the confines of a typical RBL structure. However, a typical RBL financing in the US cannot be instated unless a company is already producing.
Artificial intelligence is now being applied in oil and gas operations, and it added value in an E&P pilot program with 30 electrical submersible pumps. Read more here. A major goal is to reduce production costs to approximately $10 bbl or less – helping to ensure profitability in virtually every operators are adopting manufacturing models supported by greater electrification, automation and digitalizating.
A common buzz-phase – digital transformation – is actually a bit misleading. It’s misleading because, when something transforms, you end up with something drastically different from what you started out with. You imagine a new version replacing the old version. And, frankly, let’s say you’re a control engineer or plant manager, that’s a bit overwhelming when taking into account everything already on your plate.
We’re seeing a lot more interest in DLE (dry low emissions) technology for combustors. We haven’t had a lot of projects that have gone forward with DLE, but we’re getting a lot more questions in the early phase of projects that, I think point to customers moving towards DLE. What DLE – dry low emissions – does is allows you to reduce you NOx and your CO emission levels without using water. So you can basically swap out the existing turbines today, reduce your emissions by 90% with that DLE technology and still get good, reliable performance.
Optimizing the lifecycle performance of floating, production, storage, and offloading (FPSO) vessels is highly contingent on the incorporation of topsides packages that can efficiently and reliably deliver the power to exploit resources in a range of water depths and operating conditions. At the same time, offshore operators must be cognizant of the need to reduce emissions and minimise the weight and footprint of topsides modules, the latter of which can substantially impact facility development costs.