Reports

Global oil and gas discoveries reach four-year high in 2019

The world’s oil and gas explorers discovered 12.2 billion barrels of oil equivalent (boe) in 2019, the highest volume since 2015, according to estimates from Rystad Energy.

Oil and gas sector to boost investment in the energy transition, says DNV GL

New research published by DNV GL reveals that optimism for growth in the oil and gas industry has weakened for this year. This comes amid uncertainty around the oil price and global economic conditions – the top barriers to growth reported by the industry.

The Challenges Facing Eastern Mediterranean Gas

Gas has been discovered in the East Mediterranean for a decade, yet most remain undeveloped. This article reviews these discoveries and share some risks & various technical, commercial & political challenges facing their full development.

ADNOC Goes for Gas

Innovation and new approaches are dominating ADNOC’s drive for new sources of gas.

Oil and gas in the capitals

A recent International Monetary Fund (IMF) report estimates that in 2017, global fossil fuel subsidies totaled $5.2 trillion. This is 6.3% of world GDP and, if true, seriously distorts energy and economic markets, and has ominous environmental implications. However, the salient question is whether the IMF estimate makes any sense. The answer is no—rather, it is misguided to the point of absurdity.

The last barrel

LNG players jockey for position

The path to oilfield efficiency is digital

Operators have a singular vision for their business: Safely producing more barrels at a lower cost, despite increasingly challenging operating environments and constant fluctuations in economic cycles. In response, the oil and gas industry has devised innovations across each phase of the well lifecycle—exploration, drilling, completion and production—to extract hydrocarbons efficiently and cost-effectively. For example, in the past, operators have leveraged innovations in exploration, drilling and completions to drill more wells faster and with greater accuracy, add more fracture stages per well, and pump more proppant per stage to boost production. However, this solution has plateaued in terms of efficiency and overall productivity. New, innovative completion designs—including intelligent completions—have helped to foster a production renaissance in the U.S., but unless a major step-change in technology occurs, the benefits yielded from these solutions have plateaued, as well. With no major technology advances introduced since the advent of artificial lift, the production phase is the next frontier for realizing significant efficiency gains and cost reductions. Leading the way is the increasing adoption of technologies that incorporate components of Industry 4.0.

Innovation is key to drilling longer laterals

Innovative drilling solutions must use specific combinations of high-performance drilling motors, RSS and MWD to accurately and efficiently drill significantly longer laterals.