Speaking at Offshore Europe, John O’Brien, deepwater focus manager at Chevron, explained how a change in attitude and the adoption of digital technologies is allowing oil and gas majors to become nimbler and less averse to risk.
Flylogix Ltd., the Beyond the Horizon unmanned aircraft company, has launched a North Sea drone initiative in collaboration with oil and gas multinational Total SA, NATS, the U.K.’s leading provider of air traffic navigation services, and the Oil & Gas Technology Centre (OGTC).
Output from the field will start up in October and the company is in the process of issuing a sales tender for crude from the field this week, a senior executive for the company said.
Reuters reported on Sept. 5 that Exxon Mobil had agreed to sell its stakes in around 20 partner-operated fields, two years after selling its operated assets, for up to $4 billion.
The field’s first phase is projected to reach a peak output of 440,000 barrels per day (bbl/d) of oil in summer 2020.
Bidders included oil majors Royal Dutch Shell, ConocoPhillips and Total. Equinor, Aker BP, Lundin Petroleum, DNO and Eni’s Vaar Energi were also on the list.
As part of its efforts to cut costs the company had looked at joint oil and gas infrastructure decommissioning in the region with peers Royal Dutch Shell and BP, Pouyanne said during an industry conference in Aberdeen, Scotland.
Production is expected to hit 440,000 bbl/d in the summer of 2020 and should rise further to 660,000 bbl/d once the second phase comes on stream in late 2022, Equinor has said.
The continuous stream of data from wells in the North Sea’s Johan Sverdrup Field will be the equivalent of streaming 18,000 Netflix movies at the same time, Equinor executive says.