capital expenditure
Aramco to develop deep water exploration and production Saudi Aramco plans to produce natural gas this decade off the Red Sea coast to increase domestic supplies to power generation and water desalination plants rising 7 percent a year. The program is designed to ensure to have ample spare capacity to meet underestimated energy demand. Saudi Aramco […]
Saudi Arabia to switch on Power Generation from Gas With oil price running steadily around $100 per barrel, the use of crude oil to feed Power Generation appeared more and more as a luxurious solution. Saudi Aramco launched a vast exploration and production campaign to identify all potential gas fields to substitute oil. As a […]
Gas prices and high costs dictate to rethink Shtokman The foreseen capital expenditure for the Shtokman gas field development came up from first estimated $15 billion to $30-40 billion. This costs escalation is resulting from multiple factors including the combined target to produce 50/50 natural gas and LNG. This goal appeared to have a great impact on […]
Statoil, ExxonMobil and ConocoPhillips rename Luva project into Aasta Hansteen During the concept selection Statoil estimated the development capital expenditure in the Aasta Hansteen field (formerly named Luva) at some $5.6 billion (NOK 34 billion). With a total hull weight of 45,000 ton, a length of 193 meters and a draught of 170 meters, the Aasta […]
Shaw to sell Energy & Chemicals Group (mostly Stone & Webster) to Technip On May 21st, 2012, The Shaw Group Inc (Shaw) and Technip announced to have closed a deal to the US based Energy & Chemicals Division, mostly made of Stone & Webster, to the France headquartered engineering company Technip for approximately $300 million. Under […]
Definition SPAR is the acronym for Single Point Anchor Reservoir (SPAR). This descriptive definition refers to a floating system with infield flow lines and associated subsea infrastructure to connect the subsea production and injection wells. Comments From design perspective a SPAR is a cylindrical, partially submerged offshore drilling and production platform that is particularly well-adapted […]
Mad Dog: BP’s second giant field in Gulf of Mexico In September 2011, BP announced the drilling of a successful appraisal well in a previously untested northern segment of the Mad Dog field in the US Gulf of Mexico. The well results confirm a significant resource extension for the Mad Dog Field complex, which includes […]
PTTEP bids above $1.9 billion cash to acquire Cove The state owned company PTT Exploration and Production Public Company Ltd (PTTEP) announced the terms of its new offer in cash to acquire the entire issued and to be issued share capital of Cove Energy plc. Since Shell and PTTEP from Thailand were competing to take over Cove Energy (Cove), Shell had made a first offer […]
