World oil supplies remained relatively level at 82.1 million b/d during January, with production from the Organization of Petroleum Exporting Countries falling by 145,000 b/d and non-OPEC production up by 130,000 b/d, said officials at the International Energy Agency, Paris, in their latest monthly report.
Water, the third phase in petroleum production, represents a massive liquid volume that operators have to handle and dispose of cost-effectively and in an environmentally sound manner.
The new 561N pipelayer features an electronically controlled engine with more power and reduced emissions, new fingertip controls and better viewing area for the operator, and improved serviceability.
The rapid implementation of a radically new natural gas transportation regime in Norway reflects a broader revolution getting under way in Europe's gas markets.
The White House told the US Congress that an existing law designed to discourage non-US companies from investing in either Iran or Libya should continue to give President George W. Bush wide discretion as to when or if sanctions are appropriate.
The US Congress faces an important challenge this year as it considers ways to keep nearly half a million miles of oil, natural gas and product pipelines safe and secure.
US demand for petroleum rose "only modestly" in 2003, part of a long-term trend in which US oil consumption has increased by only a fraction of the rate of the overall economy, officials of the American Petroleum Institute reported last month in Washington, DC.
A new "Frontier" license that allows offshore operators to apply for relatively large acreage on the UK's Atlantic margin or continental shelf west of the Shetland and Orkney islands at significantly reduced costs will be offered in the next UK offshore licensing round.
Plains Exploration & Production Co. has agreed to acquire Houston rival Nuevo Energy Co. in a stock transaction valued at $945 million. Upon closing, Nuevo stockholders will own 47%, and Plains Exploration stockholders will own 53% of the combined company.
El Paso Corp. has reduced its proven oil and natural gas reserves estimate by 1.8 tcfe, or 41%, leaving the company with 2.64 tcfe as of Dec. 31, 2003. Of that total, 66% is proved developed reserves.
Despite its significance as a source of oil and gas on the doorstep of the US market, the Caribbean offshore region is poorly explored, especially in the deep water.
Various new downhole technologies allow companies to optimize the production of petroleum resources from wells with more complex geometries and producing horizons that are in deeper water, coal beds, deeper and tighter formations, and accumulations containing heavier oil or bitumen.
A new high-strength steel with a specified minimum yield strength of 120 ksi has been developed for line pipe applications (OGJ, Dec. 1, 2003, p. 56).1