Published in Petroleum Economists’ June 2018 issue and republished here with permission. After many years of anticipation, Floating LNG has become a reality. Nearly all the FLNG vessels currently operating, or under construction, are ship-shaped and destined for offshore, over-field locations. Barge based LNG (BLNG), however, is focused on nearshore positioning where LNG facilitiesContinue reading “Top 10 Barge LNG Benefits”
Category Archives: Insights
Part II : Gas monetisation, external economic and non-technical factors
Introduction In the first article on gas disposition [1], we looked at the challenges of the disposition of gas co-produced from stranded oil and small marginal pools. In this article, we address the technology required; the external economic challenges; and non-technical factors affecting gas monetisation. With respect to gas disposition, it is io’s beliefContinue reading “Part II : Gas monetisation, external economic and non-technical factors”
Collaboration & Innovation
Since the oil price crash of 2014 many in the industry have spoken about the need for collaboration to reduce costs, standardisation and increased efficiency, even to the extent of supplier led solutions. This has evolved from technical solutions to collaborative contracting models from suppliers. The topic of collaboration was forefront at this year’sContinue reading “Collaboration & Innovation”
Petromall Insights April 2018 issue: io – developments “starting with the end in mind”
Published in Petromall Insights’ April issue and republished here with permission. io consulting (io), established in 2015 by GE Oil & Gas, now Baker Hughes, and McDermott, helps oil and gas operators plan developments “starting with the end in mind”, as a means of rapidly screening various development options and making the best decisions.Continue reading “Petromall Insights April 2018 issue: io – developments “starting with the end in mind””
If technology is no longer the barrier to change, what is?
Introduction Even as the oil price creeps back up, circa $65/bbl at the time of writing [1], the oil & gas industry still exists in a “lower for longer” environment; prices are unlikely to breach the $100/bbl barrier anytime soon, if ever. In this context, there has been a great deal written about theContinue reading “If technology is no longer the barrier to change, what is?”
7 oil & gas jobs that will exist in the future
Over the coming decades, all industries will be transformed by converging technological trends that dramatically alter how companies do business. This will undoubtedly lead to many current jobs becoming obsolete. However, technological change will also create countless new roles that companies will need to fill. We’re future-gazing and fast forwarding to 2040, where we’reContinue reading “7 oil & gas jobs that will exist in the future”
How agile is your project development process?
Introduction Agile project management approaches, including flavours such as Scrum and Extreme Programming, have taken the software development world by storm. Proponents praise the flexibility and speed of the method which has gathered ardent followers across the globe. Furthermore, penetration into other industries, such as construction, has begun. As the exploration and production (E&P)Continue reading “How agile is your project development process?”
Stranded oil and small marginal pools – what do we do with the gas?
Introduction As a consequence of the prolonged low oil price, resource portfolios are being evaluated on stringent capital efficiency criteria; minimising financial risk; and maximising return on investment. This has naturally resulted in prioritising projects with high value investment ratios, rather than large capital intensive (albeit high absolute net present value) projects; favouring infill, smallContinue reading “Stranded oil and small marginal pools – what do we do with the gas?”
Impact of electric vehicles on oil demand – major disruptor or just part of the mix?
Introduction The rapid rise of renewables; transition to gas as a cleaner fuel; and improved efficiency in energy conversion processes have all led to an increased traction, and significant “air time” in social media and the wider public eye for various doom-and-gloom outlooks for the oil industry. Perhaps generating the most interest currently (pardonContinue reading “Impact of electric vehicles on oil demand – major disruptor or just part of the mix?”
Perfect match: Coupling facilities and subsurface simulation models
Throughout the past 10 years, the oil & gas industry has drilled offshore fields that lie in increasingly deeper water. As we go deeper, there is an inherent need for considerable investments to develop these fields and execute complex Field Development Plans (FDP) [1]. These developments of fields with differing reservoir fluids and pressuresContinue reading “Perfect match: Coupling facilities and subsurface simulation models”
Do you trust in collaboration enough to reap the rewards?
Collaboration vs Co-operation Like many in the industry, io believes collaboration is critical to the success of projects, particularly in this lower for longer environment. However, the word collaborate is used frequently, in many contexts, and is often used interchangeably with the word cooperate; consequently, the meaning has become diluted and obscure. For example,Continue reading “Do you trust in collaboration enough to reap the rewards?”
Why has the industry turned its back on long distance subsea tiebacks?
The first decade of this century witnessed the successful completion of a number of field developments that featured long range tie-back to shore as the facilities solution, notably projects like Snøvhit, West Delta Deep and Ormen Lange. This had the result of increasing the range of tie-back solutions up to 150km, but in the lastContinue reading “Why has the industry turned its back on long distance subsea tiebacks?”
New technology, are you aware of the risks?
To many it seems as if the rate of change of technology is accelerating, and people are starting to claim that it is posing an increasing challenge to business[1]. It doesn’t stop there, Elon Musk claims artificial intelligence (AI) is one of the greatest threats facing humanity, he was recently quoted as saying unregulatedContinue reading “New technology, are you aware of the risks?”
Do you know you have a wicked problem and do you know how to solve it?
Oil & gas projects are some of the most complex in the world; they are often a series of interrelated problems which are increasingly difficult to solve. Bringing value and certainty to the oil & gas industry requires approaching these challenges in an innovative fashion and cognisant of their complexity. In 1973 two Berkeley professors,Continue reading “Do you know you have a wicked problem and do you know how to solve it?”
From cartels to perfect competition
When it comes to the oil price, an economist’s forecast is only as good as the next person’s guess … here at io, we take a look at the macro economic factors affecting the oil markets today. It was over 20 years ago whilst studying economics that I was introduced to the notion of perfectContinue reading “From cartels to perfect competition”
