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Oil & Gas IQ
news and updates from your global energy network
news and updates from your global energy network

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Industry research indicates that a large number of wells are affected by integrity problems and the severity and frequency of these problems is increasing due to aging assets.

The International Organization for Standardization is issuing a new ISO standard which will provide guidance to operators on managing well integrity throughout the well life cycle. Furthermore, ISO 16530-1 addresses minimum compliance requirements for the industry.

We will be exploring the how the new ISO will assist in improving your Well Integrity in our upcoming Live Webinar and Q&A:

Join us online on Tuesday, March 28, 2017 his webinar to learn:

• How the new ISO 16530-1 can form a baseline for improving the integrity of your wells.
• How the new ISO 16530-1 can assist in the process of managing well integrity during each of the 6x well life-cycles.
• Hear about best practice in well integrity management.
• Benefit from a discussion on meeting regulatory requirements.

>> Register for this webinar:

We will also be hosting a live Q&A during the session where you will be able to ask our Well Examination experts your questions on how the new ISO will effect you.

>> Reserve your place here:

I hope you can join us on March 28 for the presentation and Q&A!

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As the global demand for gas increases at a faster rate for that of oil, the hydrocarbons industry is positioning itself to deliver a surge in capacity of supply, through the construction of Liquified Natural Gas (LNG) projects around the world.

In this infographic, we look at the ten largest global LNG megaprojects in the early stages of construction and give you their vital statistics.

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Across the world the oil and gas industry makes great claims to have embraced ‘Best Available and Safest Technology’ (BAST).

In this eBook, Derek Park follows up some of the responses to his report 'Never Say Never Again’ which looked at the lessons learned from major incidents such as the BP Deepwater Horizon disaster.

He also looks at some oil and gas technology which challenges convention in pursuit of better solutions in the most crucial areas of well construction.

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As you read this, the largest trial of the 21st century is taking place in a Louisiana court room.

This week will mark three years since the Deepwater Horizon explosion claimed the lives of 11 personnel and flooded the Gulf of Mexico with 4.9 million barrels of oil in the second largest accidental oil spill of all time. Now, finally, plaintiffs and defendants have met in New Orleans in a landmark trial with billions of dollars and the industry’s integrity on the line.

And we’ve been following it all since day one.

Regular columnist Derek Park has been reporting live from the trial exclusively for Oil and Gas IQ and will be following the trial until its conclusion in his weekly report.

In this eBook download, Derek Park’s concise 12 page breakdown of the first four weeks of litigation in the BP trial.

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The oil and gas industry was rocked to its very core when the Deepwater Horizon explosion claimed the lives of 11 personnel and flooded the Gulf of Mexico with 4.9 million barrels of oil in 2010. Now, finally, plaintiffs and defendants have met in New Orleans in a landmark trial with billions of dollars and the industry’s integrity on the line.

Columnist Derek Park has been reporting live from the BP trial exclusively for Oil and Gas IQ.

In this eBook, we collate the second month of trial proceedings in this concise 15 page breakdown

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Falling oil prices are focusing attention on asset life extension through effective asset integrity management during this critical phase in the oil and gas industry and we have been looking at where technology can help.

A recent survey of Oil & Gas IQ members uncovers the processes being used and investments being made in technology during this time of low profits. But are you falling behind or ready for the future?

We have compiled the results of this study in conjunction with Bentley systems.

In this infographic you will discover:

The most important drivers for asset reassessment
The average age of the platforms and assets our community are working on
The number of platforms reaching or exceeding design life
Which compliance codes they are using
How much engineering analysis is done in-house
The role of future tech including mobile and UAVs / drones for inspections

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In this e-book follow up to A Practical Guide To Capex Modelling In Oil & Gas we set out a categorisation of opex. We have also provided two industry case study examples, with worked solutions in Excel, containing some of the different types and nature of opex that you will typically model in oil and gas projects.

The categorisation of costs presented is not hard and rigid, and the division between costs can be somewhat arbitrary and can be dependent upon the interpretation of variable, fixed and overhead costs. Certain items of expenditure can be classified without question, but the classification of other items can depend on further factors – even the accounting practice of an organisation.

It is important that modellers check and clarify assumptions. Make sure that you are clear on the assumptions and the basis for all items of opex, and the dependencies and timing of costs.

Direct costs are associated with running the asset. Indirect costs are associated with running the business.

Ask a modeller in the oil and gas industry about costs and chances are they will think that capital expenditure ("capex") is way more important than operating expenditure ("opex"). Yet over the life of the project, opex is often a much larger number than capex. In addition, it can be difficult to model.

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Chemicals companies have seen the value of innovation.

New products mean competitive advantage, better profitability and a shift away from commodities products. But does your lab successfully innovate? And what might be holding it back?

Read the white paper from IDC Manufacturing Insights, “Improving the Product Innovation Process in the Chemicals Industry,” to learn how your lab can build a model for sustainable innovation.

Download a copy of this 15 page whitepaper here to:

Gain a clear understanding of the top issues facing the chemicals industry, and their development labs that have the task to innovate
Learn of a new framework for successful chemicals innovation
Hear from others in the industry as to the top drivers of their PLM efforts
Receive guidance in establishing innovation objectives, as well as actions to achieve innovation

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The fall of $50 per barrel and a bearish outlook have diminished the allure that O&G has held for investors over the past five years. They have all of a sudden changed the discussion in the sector from raising capital, to driving growth in the long term, to seeing capital as the biggest lever of adjustment in today’s low-priced, cost-focused, and highly competitive market environment.

Navigating this new environment might be painful for many O&G companies, but they understand from past experience that adapting will only make them more efficient, dynamic, and innovative. The environment may question their traditional capital strategies and present several new capital choices, which will likely force many to explore and consider new forms of sourcing, deploying, and optimizing capital.

Such strategies include sourcing capital through new low-cost investment vehicles; deploying capital in assets and markets that offer greater portfolio and operational flexibility; and optimizing capital by adopting leaner designs and displaying higher commercial agility in supply chain and contracts.

Because this is just the beginning of the new environment, it is important to carefully study the dynamic nature of the shale business and its repercussions on the global O&G industry.

We have compiled the perspectives of some of the leading organizations in the industry to provide you with a 13-page Economic Investment Report in order to help guide your understanding of the market and how you can apply lesson's learned to your current suite of projects

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The current oil price downturn has put pressure on companies, both big and small, to retrench and take stock of their assets. As well as their physical holdings, organisations are weighing up the value of their intellectual property (IP).

In this interview, we speak with a top patent lawyer at Shell International about how his company is tracking, marshaling and monetizing the IP assets that it controls for maximum advantage in these tough times.
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