Reassessing Alaska's Energy Frontier
assessment: the National Petroleum Reserve-Alaska and adjacent areas. Managed by the Bureau of Land Management, the NPR-A covers 22.8 million acres, more than the entire state of South Carolina. The new USGS assessment estimates 8.7 billion barrels of oil and 25 trillion cubic feet of natural gas resources. This is a more than sixfold increase from the previous USGS estimates in the region, which include parts of the 2005 Central North Slope assessment and the 2010 NPR-A assessment. Driven by Discoveries The USGS decision to reassess the NPR-A came after several industry announcements
CGG Registered to Estimate Reserves in Mexico
;s National Hydrocarbons Commission (CNH) as an independent third party qualified to audit and certify Mexico’s reserves, either for oil and gas operators or directly for the CNH. Registration of CGG’s auditing and reporting services will apply to all of Mexico’s oil and natural gas resources from conventional to unconventional in both offshore and onshore settings. CGG GeoConsulting’s Robertson petroleum reservoir and economics group specializes in a wide range of geoscience, reservoir engineering, facilities engineering and economics consultancy services. It has
NOIA Commends Shell’s Efforts Offshore Alaska
not uncommon. “The Alaskan OCS is predicted to be an important addition to the nation’s energy portfolio. Hopefully other companies will continue their efforts offshore Alaska, so that Americans can gain a better understanding of the location and size of the valuable oil and natural gas resources in the region.”
FMC Signs Joint Subsea Tech Agreement with Oil Majors
, FMC Technologies' Chairman, President and Chief Executive Officer. "By working together collaboratively, we will continue to achieve technological innovations that will enable us to safely develop some of the world's most promising fields and take a large step toward providing new oil and natural gas resources to consumers and superior returns to stakeholders." About FMC Technologies, Inc. The company designs, manufactures and services technologically sophisticated systems and products such as subsea production and processing systems, surface wellhead systems, high pressure fluid control
China Optimistic of Finding Gas off Vietnam
had taken place in Blocks 118 and 119, Do Van Khanh, head of state-run PetroVietnam Exploration Production Corporation, told Reuters. He declined to discuss the rig. In a statement, Exxon said it was in talks with Vietnamese authorities about the feasibility of developing central Vietnam's natural gas resources. It did not respond to questions about the possible impact from China's exploration nearby. Exxon CEO Rex Tillerson and CNOOC Group Chairman Wang Yilin met in Beijing on May 14, the Chinese company said on its website, adding they discussed "further cooperation" between the two
SE Asia Oilfield Service Minnows Must Acquire or Expire
that the rise in E&P spending is higher than the world at large," Geir Sjurseth, general manager of the DVB Group Merchant Bank (Asia) Ltd, told a recent industry conference. He expects a 7 percent gain in Asia's E&P spending and 4 percent growth globally. The region has rich natural gas resources. It had proven gas reserves of 253 trillion cubic feet in 2013, or under 4 percent of the world's total, data from the U.S. Energy Information Administration shows. Gas production has more than doubled in the last two decades, and is expected to climb in the next 20 years, led by a 72-percent
Well-functioning Energy Market Key to Europe
have a large share in the energy mix,” said Bjørnson. He reflected that Europe's drive to diversify its energy sources is understandable. Yet, it is important to not lose sight of that Europe is very well supplied and diversified. Further, the region is surrounded by huge natural gas resources. “A well-functioning market is the best way of attracting this gas to Europe,” said Bjørnson. Norwegian gas, of which Statoil produces and markets a large share of, is and will remain an important source of gas supply to EU. It accounts for more than 20%
NOIA Echoes Importance of Atlantic Seismic Exploration Hearing
in the development of oil and natural gas for our nation. This could not be timelier, since there is a pressing need for the Department of Interior to complete the Atlantic Seismic Environmental Impact Statement. American consumers deserve to understand the true potential of our offshore oil and natural gas resources, but resource estimates for the Atlantic Outer Continental Shelf (OCS) are based on 30 year old data. The Department will soon begin work on the 2017-2022 offshore oil and gas leasing plan, and new resource estimates based on the best available science and most modern technology should be
NOIA Commends Maryland Offshore Wind Auction
based on where we know oil and natural gas reserves are. This information, in addition to the siting of offshore wind, is a step toward a truly data-driven decision-making process. After all, it is amazing what offshore energy can do for America. More is possible if we also develop the oil and natural gas resources in the Atlantic OCS, including an estimated 1.3 million barrels of oil equivalent per day in production, $51 billion in government revenue, $24 billion per year to the economy, and 280,000 new jobs by 2035.” About NOIA NOIA says it is the only national trade association representing
February 2024
