Production from the full five-field West Nile Delta development, the Giza-Fayoum-Raven project, is expected to represent about 30% of Egypt’s current production BP p.l.c. (ticker: BP) will bring five major upstream projects online in 2018. The projects span the globe, with assets coming up in Europe, North Africa and North America. David O’Connor, BP’s head of global projects, gave a
BP’s Chief Operating Officer for Developments and Technology James Dupree recently defined BP’s current upstream focus. The new focus was no doubt influenced by the commodities price downturn. Dupree said BP’s upstream priority is on what BP calls “advantaged oil.” “From an investment perspective, an advantaged oil project means a short cycle time for development (from finding the resource to
BP’s U.S. onshore operations using drones, big data, augmented-reality smart glasses, multilateral wells “If you look at any industry, every single one is being turned inside out by technology,” Brian Pugh, Lower 48’s chief operation officer – production said. “The energy industry is no different.” BP said many of the new innovations being deployed across the Lower 48 business have
Guided BP through aftermath of Deepwater Horizon disaster BP Chairman Carl-Henric Svanberg has informed the company’s board of directors of his intention to retire as chairman. The company said Svanberg will chair the annual general meeting to be held in May 2018 and will remain in position until a successor is in post. Ian Davis, the BP board’s senior independent
Tight gas production techniques perfected in the U.S. expected to deliver 1 Bcf/day to Sultanate of Oman; two-phase project targets 10.5 Tcf of natural gas — BP holds 60% interest, Oman 40% BP has started producing natural gas from what it said is its largest project start-up in 2017. The Khazzan gas field, which is operated by BP in partnership
Delivering to 8 states – Nuevo Leon, Coahuila, San Luis Potosi, Veracruz, Mexico State, Guanajuato, Tamaulipas and Queretaro BP Energía México, BP’s natural gas marketing and trading arm in Mexico, has started to deliver approximately 200,000 mmbtu/d of natural gas to industrial users, local distribution companies and independent power producers in eight states in Mexico. BP said in a press
Dudley credits standardization, simplification In a talk he gave last week at the Society of Petroleum Engineers Offshore Europe conference in Aberdeen, BP CEO Bob Dudley said his company has cut production costs by half in the North Sea. “This focus on standardization, simplification and discipline on cost has contributed to our average production costs in the North Sea coming
Out of Azerbaijan, and Into India A current existing deal between international oil giant BP (ticker: BP) and SOCAR in the Azeri-Chirag-Guneshli (ACG) field is due to expire in 2024. A new plan will take SOCAR’s stake in the field to 20% from the current 11.6% while BP’s share is predicted to drop to 30% from the current 35.8%, according
Presenters added to EnerCom’s Oilfield Tech & Innovation Day – Aug. 17, 2017 EnerCom has announced the speakers and agenda for The Oil & Gas Conference® 22 on August 13-17, 2017, in Denver, at the Westin Denver Downtown. The four-day conference will feature presentations from C-level executives at publicly traded and private oil and natural gas companies, as well as
International oil giant BP (ticker: BP) reported that its Q2 2017 production—at 2.431 MMBOEPD was 10% higher than Q2, 2016. The company earned $144 million during the second quarter, bringing its profit to $1.593 billion during the first half of 2017. This compares to a loss of approximately $2 billion during the first half of 2016. BP’s capital expenditure was
A new MoU between BP and Rosneft will see more Russian natural gas flowing to Europe BP (ticker: BP) and Russian oil giant Rosneft signed a Memorandum of Understanding (MoU) in St. Petersburg Friday to bring a new stream of Russian natural gas to Europe by the end of this decade. Previously, BP said it could receive between 7 and
BP said it started gas production from the first two fields, Taurus and Libra, of the West Nile Delta development in Egypt, eight months ahead of schedule. First gas was exported to Egypt’s national grid on March 24, 2017 and the commissioning of all nine wells of the development’s first two fields and ramp up to stable operations has
