Oil Declines as Traders Wrestle With Chance of OPEC+ Output Cuts - 28 November, 2023 07:30 AM
US Oil and Gas Production Set to Break Record in 2023 Despite UN Climate Goals - 28 November, 2023 07:30 AM
COP28: UAE Planned to Use Climate Talks to Make Oil Deals - 28 November, 2023 07:30 AM
Revealed: Saudi Arabia’s Plan to 'Hook' Countries on Oil - 28 November, 2023 07:30 AM
Greenpeace Accuses China Oil and Gas Firms of 'Greenwashing' LNG Purchases - 28 November, 2023 07:30 AM
Cross Regional Carbonates and Mixed Carbonate Systems Symposium Call for Abstracts
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Worldwide oil and gas exploration results took a major hit from reduced investment and the ongoing COVID pandemic last year. Cautious industry spending and overall selectivity over prospects likely reduced discoveries to their lowest annual level in 75 years. Here’s the recommendation from one industry analyst for 2022’s global exploration and supply outlook: Stay chill for now.
In the IEA’s “Net Zero by 2050” report, which outlines a comprehensive pathway for a global transition to zero emissions by mid-century, the agency states that much of the technology needed to make a timely transition has not yet been developed. Emerging technologies, such as improved battery storage, low-carbon hydrogen production and carbon capture utilization and storage, show “encouraging” progress, but the world significantly lags behind in power generation and end-use sectors, specifically industry, buildings and transport.
Thanks to continuing advances in reservoir characterization, technology and innovative thinking, many oil fields around the globe have “grown larger” in recent decades. John Sneider, president of Sneider Exploration Inc., documented examples of mature field growth 20 years ago and recently revisited the topic to focus on mature giant fields. This updated analysis is detailed in chapter 4 of the new AAPG Memoir 125: “Giant Fields of the Decade: 2010 – 2020.”
There is no denying there are massive changes happening around the world today, seemingly as a reaction to the emergence of the COVID/Wuhan virus. However, while the virus might be a catalyst of change, other factors are in play too. Many leaders around the world seem to share in the sentiment expressed by the founder and executive chairman of the World Economic Forum, Klaus Schwab, who recently wrote, “The changes we have already seen in response to COVID-19 prove that a reset of our economic and social foundations is possible,” in the interest of promoting the WEF’s proposed “Great Reset” of the global economy.
Last month Houston hosted the 23rd World Petroleum Congress with more than 5,000 attendees from 70 countries. After a one-year postponement due to the global pandemic, energy leaders from across the globe gathered to discuss the future of energy. And the tone of the discussion was sobering. Following on the heels of November’s COP26 meeting in Glasgow, there was recognition that political and societal pressures are shifting the energy sector and the industries in it. But there was widespread concern that the expectations underlying these pressures for change were unrealistic. That those pushing hardest for change lacked a fundamental understanding of what transforming the global energy sector truly entailed, what it would look like when it was complete and the dangers looming from getting it wrong.
Before unconventional resources became prevalent in the global petroleum supply, deepwater exploration and development was a significant focus for many larger companies. For deepwater activities to succeed, the petroleum industry was forced to merge its above-ground concerns with the below-ground geoscience and engineering disciplines.
Producers finally got some relief in 2021. Oil and gas prices recovered from their pandemic lows and remained at high levels through most of the year, as increased production could not keep pace with a global demand recovery. It was a year when higher prices helped energy producers strengthen their balance sheets and improve their bottom lines.
While the COVID-19 pandemic ground the world to a halt in 2020, crisis led to creativity and opportunity in many parts of the world. For four geoscientists in Colombia, the pandemic became the perfect time to serve their country and their profession. In May 2020, two weeks after oil prices dropped below zero, Colombia’s Ministry of Science, Technology and Innovation launched a bidding contest allocating nearly $3 million to finance geoscience research projects for the hydrocarbon sector.
One of the more provocative but less publicized initiatives introduced at the recent United Nations Climate Change Conference in Glasgow is an international effort to end oil and gas exploration and production. The Beyond Oil and Gas Alliance, created by Denmark and Costa Rica, officially launched its program at COP26.
Considering that geothermal energy can supply power 24/7 for hundreds of years, it can use existing infrastructure from retired coal and nuclear plants, it is extremely attractive to investors, and that it creates more jobs than wind and solar energy, the question arises: Why does so much of this clean, natural resource remain in the ground? That was the topic of discussion at the “Geothermal 101” Geosciences Technology Workshop, hosted recently by AAPG and Bureau of Economic Geology at the University of Texas at Austin.
Plan now to attend an interactive in-person workshop with industry leaders, government representatives and technical experts working in the Guyana-Suriname Basin.
Panelists will discuss current unconventional resource activities in North America, including key plays that remain competitive and potential for future growth. They also will address the key challenges for unconventional resources to stay competitive in the global market: maintaining cashflow, reducing expenditures, improving capital and production efficiencies and managing resources.
Virtual Forum to be presented via Zoom.
This talk will provide information to better understand the principles of surface geochemistry (SG), how best to use SG data in exploration or development programs, how to develop a cost effective sampling and analytical program, and will also explore best practices for the interpretation and integration of SG data.
This e-symposium focuses on methods for predicting connectivity within clastic fluvial systems.
There are approximately 1,000 oil and gas fields in the world that have been classified as 'giant,' containing more than 500 million barrels of recoverable oil and /or 3 trillion cubic feet of gas.
Unger Field, discovered in1955, has produced 8.6 million barrels of oil from a thinly (several ft) bedded, locally cherty dolomite containing vuggy and intercrystalline porosity.
Upon successful completion of this course, you will be able to describe faults and fractures in carbonates, black shales, and coarser clastics as they occur in the northern Appalachian Basin.
Join us for 'Matching Capabilities and Capacity With Current and Emerging Demand Areas; Building a Business Plan That Reflects the Realities of Opportunities'. Webinar will be presented via Zoom 7pm - 8:30pm CDT, 20 May 2020.
During this webinar we will discuss:
Matching technologies and companies
Keys to Building a Resilient Early-Stage Business
Multi-Industry Technology: Robotics as a Service
In the span of a mere few months, the much of the world went from a state of exuberant self-actualization to the most primal level of survival (health, food, shelter) insecurity. Consequently, the world has changed. Shock change due to pandemic-triggered chain reactions, supply / demand and price instability, rapid technological innovation, new plays and changing markets, distributed teams and workforces, the powerful force of social media, shortages of technical expertise, and supply chain issues have come together to create new challenges and opportunities for leadership. We will analyze how the issues relate to the oil and gas business (exploration, development, oilfield services, support services, financial sector) and we will propose solutions for immediate real-world emergencies, together with longer term challenges. In addition, we will evaluate what prominent thinkers and academics have written about leadership and strategic planning.
This presentation describes a proven workflow that uses a standard narrow azimuth 3D seismic, conventional logs, image logs and core data to build five key reservoir properties required for an optimal development of shale plays.
This e-symposium presentation places the interpretation of deep-water turbidites discernible in 3-D seismic inversion data within a geological context.
Climate change is not only happening in the atmosphere but also in the anthroposphere; in some ways the former could drive or exacerbate the latter, with extreme weather excursions and extreme excursions from societal norms occurring all over the earth. Accomplishing geoscience for a common goal – whether that is for successful business activities, resource assessment for public planning, mitigating the impacts of geological hazards, or for the sheer love of furthering knowledge and understanding – can and should be done by a workforce that is equitably developed and supported. Difficulty arises when the value of institutional programs to increase equity and diversity is not realized.
Request a visit from Sherilyn Williams-Stroud!
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