04 October 2023
04 October 2023
The approval comes after the government authority rejected appeals challenging further exploration for offshore oil and gas.
With the potential sale, bp hopes to meet its goal of reducing its debt and maintaining its dividend policy.
The contract is for a carbon capture, utilisation and storage (CCUS) project at the Habshan gas processing plant.
The EquiFlow Density device is designed to allow operators to optimise hydrocarbon production in difficult wells.
The contract forms part of a master equipment supply deal between Venture Global LNG and Baker Hughes for more than 100 million tonnes per annum of LNG production capacity.
The company plans to commence drilling work at the first well, located 52km off the coast, in the next few weeks.
Despite a Western ban on insuring tankers carrying oil above a set price, Russia continues to use European and “shadow” tankers.
Currently, the joint venture between Venezuela state-backed oil and gas company PDVSA and Chevron produces approximately 135,000 bpd.
The Excellence Awards celebrate the greatest achievements and innovations in the industry, and the people and companies that are driving change.
ML is a rapidly growing field in the O&G industry and can potentially revolutionize how companies explore and produce oil and gas. It can be used to analyze seismic data, well logs, and other geologic data to identify potential reservoirs. ML algorithms are also capable of analyzing production data and identifying patterns that can be used to improve well performance. Overall, machine learning has the potential to improve efficiency, increase production, and reduce costs in the oil and gas industry.
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