Petroleum Review March 2015

01/03/2015
Unsurprisingly, low oil prices are continuing to impact all sectors of the global oil and gas industry. Our first feature this month looks at the measures being adopted by the seismic contractors, including a reduction in fleet size and a focus on reducing costs while maximising efficiencies. A slowing of new technology development is also anticipated in the months ahead. 

Meanwhile, low oil prices could have serious ramifcations for the future development of carbon capture and storage (CCS) projects. Such projects are costly and in the current climate many pending developments may be rendered uneconomic. 

This month’s issue also takes a look at some of the latest technologies being developed to enhance oil recovery (EOR) rates and potentially add decades to the lifespan of reservoirs worldwide. There is also a suggestion that EOR should be incorporated into field managment practices as a norm, rather than leaving it until the end-of-life of a field. 

Strategies for the changing oil and gas landscape was the overall theme of discussion at this year’s IP Week held in London last month. We highlight some of the key presentations and speeches, including comments from Ben van Beurden, CEO, Royal Dutch Shell; Rosneft Chairman Igor Sechin; and Maria van der Heoven, Executive Director, International Energy Agency.
 

Issue details

PR May 15.pdf

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Journal title: Petroleum Review

Publisher: Energy Institute

Content in this issue:
    New report from ICCT - News Item

Subjects: Research and development, Carbon capture, transportation and storage, Oil and gas, Enhanced oil recovery