However, chronic midstream infrastructure bottlenecks and low price environment can limit the progress of the oil and gas industry, says GlobalData.
Canada’s existing oil pipeline and railway capacity is enough to support oil sands current exports but with little extra room for logistic constraints.
The well will now be plugged and abandoned, and the rig will move to the site of the next drilling location on the South Disouq licence, the SD-4X appraisal well.
Mitsubishi Hitachi Power Systems (MHPS) announced that Suncor Energy has issued a Letter of Intent to purchase MHPS JAC gas turbine technology.
Add Energy has recently secured work with three operators in the North Sea for the provision of Environmental Management and Reporting Software (NEMS Accounter).
Statoil and partners have made an oil discovery in the Verbier sidetrack well in the outer Moray Firth on the UK Continental Shelf.
Royal Dutch Shell plc has announced the completion of two previously announced agreements that will see Shell sell all its in-situ and undeveloped oil sands interests in Canada and reduce its share in the Athabasca Oil Sands Project (AOSP) from 60% to 10%.
West Ells Phase II is an expansion of the Phase I project with an additional production capacity of 5000 bpd.
Marathon Oil Corporation has announced it has signed an agreement to sell its Canadian subsidiary, which includes a 20 % non-operated interest in the Athabasca Oil Sands Project (AOSP), to Shell and Canadian Natural Resources Limited for US$2.5 billion in cash.
NEL has developed a novel method for calculating Reynolds numbers in real time, helping the O&G industry to significantly reduce financial exposure of heavy oil flow measurement.