Petroleum Economist
Deep water, deep thinking
The world’s deep-water oil flows through a surprising variety of production facilities, with vessel-based schemes dominating in the Gulf of Guinea and various designs of spars, tension-leg platforms and semi-submersibles employed in the Gulf of Mexico. Engineers have difficult choices to make as they select designs for the next generation of fields in up to 3,000 metres of water, Martin Quinlan writes
Growing old gracefully
Attempts are being made to encourage new entrants to the UK Continental Shelf to help extend the life of ageing fields and boost new exploration as some majors sell their assets there. At the same time, a new tax regime has added to the existing high costs operators face. David Townsend reports
Striking a balance
The Norwegian government wants to encourage the extension of the life of mature fields, but, aware of the demands of international oil firms, will balance this with new opportunities – the coveted Nordland 6 area may be available in the next licensing round. David Townsend talks to Einar Steensnæs, the energy minister
Pushing north
Although prospects are better than in the neighbouring UK, operators in the Norwegian North Sea are dealing with maturing acreage in some areas. Amid a fall in drilling activity in recent months, companies are pushing for access to new frontier areas. David Townsend reports
Statoil: exploring new areas
Statoil, the Norwegian oil and gas group, was partially privatised almost two years ago, but claims its main policies have not changed. David Townsend recently spoke to the company’s president and chief executive officer, Olav Fjell, about the impact of the sale and his strategy for the group
Exploring the ocean’s depths
Advances in oceanographic research should improve exploration success as well as enhance safety and environmental protection. By Bruno Savoye and Myriam Sibuet, Ifremer, and Alain Morash and Jacques Minet, TotalFinaElf, Exploration & Production
Getting there
Progress in commercialising hydrogen technology is advancing rapidly. Stationary fuel cells could be supplying domestic energy needs as early as next year, while hydrogen-powered cars could be on sale by the end of the decade. Tom Nicholls reports
Power developers go back to brass tacks
The collapse of Enron and the electricity crises in the US in 2001 have forced the country’s power developers to reconsider their priorities. Several are backing away from major projects in regions such as the Middle East, but they may be shooting themselves in the foot, writes James Gavin
Russia: back in fashion
After being shunned for several years by foreign investors after the financial crash of 1998, Russia is back in fashion as a place for international oil companies to hunt down deals that can magnify their reserves and improve the stability of world markets. Isabel Gorst reports
East to West
The Energy Charter has its origins in the post-Cold War era as part of an EU-backed attempt to ease energy supplies from eastern Europe to major Western markets. Today, it is negotiating an ambitious energy-transit protocol and trying to sign up Russia to the treaty. David Townsend spoke to the organisation’s Ria Kemper
Battling benchmark distortions
Falling production from the UK North Sea’s Brent oilfield had left the pricing marker grade exposed to market squeezes. Nine months after the 21-day Brent/Forties/Oseberg option contract was conceived by BP and Platts, Liz Bossley investigates how the new baby has survived its gestation period