Issue: September 2023

Special focus: Upstream practices

How to improve design and engineering for upstream projects

A novel approach to engineering for upstream projects is producing significantly better outcomes. The innovative techniques are focusing more attention on the design and effective control of engineering workflows to reduce NPT and lower costs.

Delivering a full range of innovative well completion technologies

A UAE-based company is providing a specialist portfolio of high-specification completion equipment and services that encompasses the entire upper completion to a diverse range of clients in 30 countries.

Digital twin mitigates recovery risk of damaged riser, offshore Brazil

As the oil and gas industry strives to cut costs, improve efficiency and reinforce its role in the energy transition, the use of digital twins is becoming more evident in the race to digitize and decarbonize the sector.
Global mid-year forecast

Canada's upstream soldiers on despite governmental interference

Caution leads the way as Canada’s oil industry seeks to find the balance between burgeoning global needs for its ethically and sustainably produced energy and increasingly punitive policies from Ottawa that threaten industry’s ability to meet demand.

U.S. upstream muddles along, with an eye toward 2024

OPEC’s 1-MMbopd production cut, coupled with increased global demand, pushed crude prices to a nine-month high in September. Yet, U.S. operators have shown restraint, and according to World Oil’s mid-year forecast, this trend will continue, as activity is projected to decline slightly during second-half 2023.

Global activity looks solid and is increasing

International activity outside the U.S. continues its growth, as most regions will see a pick-up in drilling. Global oil production posted an unusually stout increase last year, and another solid gain is anticipated this year. Offshore activity is particularly healthy in several regions.

FPSO technology: Accelerating FPSO performance evolution

An open collaboration and digitalization initiative is working to optimize FPSO production throughput and ensure equipment uptime, while reducing carbon footprint at scale.

Embracing the opportunity of ESG to deliver a sustainable future

To accelerate net-zero opportunities at pace, E&P companies need to be ESG leaders. To be successful, the industry needs fit-for-purpose policy and voluntary reporting frameworks that maximise giving confidence to the market and stakeholders without a sectorial bias.

Regional report: Newfoundland and Labrador: Despite some setbacks, NL’s offshore sector continues to ride its large potential to greater progress

There have been the disappointments of Equinor’s delayed Bay du Nord development and bp’s Ephesus well, but the significant potential of Newfoundland and Labrador’s offshore resources cannot be denied. There is much to be thankful for in this sector.

Novel approaches to deepwater steel catenary production riser life extension benefit ESG

The extension of the operational lives of deepwater SCRs offers significant benefits in terms of increased production, cost-effectiveness and alignment with ESG principles.

First oil

Industry optimism shows up at OE and WPC

What's new in exploration

Exploration ≥ Drill, Pump, Sell

Drilling advances

Dodging the hot zone

The ESG perspective

The growing decarbonization movement

The last barrel

Oilfield electrification gaining momentum

Industry at a glance

OPEC+ continued to reduce oil supply during a period of record demand, which was sparked by an increase in Chinese consumption and an uptick in petrochemical feedstock requirements.
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