Offshore Technology Focus | Issue 41

Saudi Arabia is to float national company Saudi Aramco on the stock market, which could create the world’s largest listed company and oil producer. Interest in the notoriously secretive organisation has been keen, with speculation over adding transparency, what portion of the company will be offered and how it will affect the wider oil and gas sector. We find out more.

Also, we look into Myanmar’s second gas discovery, investigate how legislation is being enforced in the North Sea, report on the risks of continually maintaining ageing assets, and find out how companies are protecting structures against increasingly severe weathers.

Plus, we hear about Fishbones’ new multilateral well stimulation technology and Repsol Technology Centre’s project to improve complex decision-making.

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In this issue

Privately Going Public
If Saudi Aramco is floated it would create not only the largest oil producer but also the biggest listed company in the world. With Saudi Arabia confirming the rumours, what will this mean for the wider oil and gas sector?
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Myanmar: Enter With Caution
Nearly two years after Myanmar’s first offshore oil and gas licensing round, a significant gas discovery by Woodside Petroleum has raised hopes for further lucrative finds in the region. Although encouraging, we look into the risks and controversy still in the region.
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Is Legislation Tough Enough?
French oil and gas multinational Total has been fined £1.125m for safety breaches that led to a potentially catastrophic leak at its Elgin platform in the North Sea. Although the North Sea’s biggest fine to date, is unlikely to change attitudes. We investigate why.
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Asset Life Extension: Doing It Right
Extending the life of ageing offshore assets has become the keystone strategy to surviving a low oil price but does it make sense in the long-term? We find out how far asset life extension can go and speak to those in favour of this solution to maintaining profitability.
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Stimulating Wells
A new technology called multilateral well stimulation could provide a ten-fold increase in the output of oil and gas wells and without the drawbacks of fracturing, according to developer Fishbones. We find out more.
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Storm Warning
The climate change discussion within oil and gas has become a two-way view, no longer just the environmental consequences of drilling for hydrocarbons but also the impact of more severe and frequent storms.
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At the Speed of Thought
Using cognitive computing technologies developed by IBM, Repsol is matching the power of machines with the decision-making qualities of their masters. We speak to director of exploration and production technology Santiago Quesada to hear more.
Read the article.

Next issue preview

Sanctions on Iran are set to be lifted, releasing masses of oil into an already oversaturated market. The effect is expected to run the whole way through the industry, but whether it will be positive for the country nor the industry is to be seen. We investigate what ending the sanctions may mean for Iran, and what the future holds for its unchained offshore oil industry.

Meanwhile, we find out why oil and gas services giant Schlumberger is planning to cut 10,000 jobs to offset losses of over $1bn, investigate why the US Government has halted fracking off the California coast, and profile the challenges of deepwater decommissioning in the Gulf of Mexico.

Also, we catch up with researchers at Heriot-Watt University’s Ocean Systems Laboratory to hear about their dolphin-inspired sensor technology, and get insight into what offshore can learn from the recovery of the motoring industry.

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