Reducing drilling and development spend has largely been the focus of services and equipment providers in the Gulf of Mexico – with the aim of lowering costs at the most capital intensive period of asset lifecycles. Often overlooked, Opex costs have grown in line with other upstream costs – 7% CAGR from 2010 to 2014 […]
More »Jul 4 2016 | News & Insight
The new quarterly update of Douglas-Westwood’s (DW) World Drilling and Production Market Forecast (DWD&P) has been released. Report Author, Matt Cook, commented on the report’s findings, “Outages in Canada and Nigeria have helped oil prices rally from record lows, as well as output reductions onshore US due to bankruptcies and Capex cuts amongst shale producers. […]
More »Laden by corruption scandals and falling oil prices, Petrobras is struggling to repay $130 billion (bn) worth of debt – nearly $24bn will mature by 2017. Efforts to sell non-core assets (pipelines, powerplants, bonds etc.) have been slow going and any attempt to divest upstream operations impeded by red tape. Mandatory operatorship (30%) for Petrobras […]
More »The decision by 52% of the voters in the EU referendum last week to vote to leave the EU has had far-reaching impact across the globe. The oil and gas sector, bruised from nearly two years of low oil prices, is bracing itself for the fall out. The immediate impact of the referendum outcome was […]
More »In recent years, Liquefied Natural Gas (LNG) has become integral to meeting global energy demand. However, as the oil & gas industry continues to navigate the prolonged downturn, capital intensive export LNG projects have been in the spot light due to questionable economic viability. A key driver is oversupply in the global LNG market – […]
More »With the referendum rapidly approaching, the question of what Brexit could mean for the UK oil & gas industry has become increasingly intriguing. As a market broadly regulated in London, many argue that an exit vote would lead to no significant changes – at least in the short term. However, new uncertainties for the energy […]
More »Jun 7 2016 | News & Insight
Last year was a challenging year for the FPS market. The low oil price threatened the commerciality of numerous projects, delay announcements for FPS units under construction arrived regularly and overall only four orders were placed. So far in 2016, we have seen a similar trend, or arguably worse market conditions. No orders have been […]
More »As an indicator of the turmoil that has hit the US oil & gas services sector the Baker Hughes rig count is hard to beat. From 1,931 rigs drilling in September 2014 the count has declined to a total of 408, dramatically reducing activity and jobs for drillers, service companies and suppliers alike. Unconventional activity […]
More »Autonomous underwater vehicles (AUVs) have been in operation for a number of years and are an established part of underwater activity, particularly in research and military where they are utilised for activities such as mine clearance, hydrography and data collection. Despite widespread use, there is still potential for substantial growth – each new technological advance […]
More »Solar PV – deployed in Europe for over two decades – can hardly be called a new technology. However, in recent years we have seen the rapid adoption of solar PV throughout America and Asia – particularly in India, China and SEA. Solar is currently seen as a complementary source of power when compared to […]
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