As the old adage tells us, “necessity is the mother of invention”. A short and pithy observation, which time and again has proved true for the offshore industry as it has come up with new ideas for pushing back the frontiers of exploration and production. And no better time than now for more of that necessary and inventive thinking as operators seek ways to tackle the double hit of rising offshore development costs against a backdrop of prolonged low oil prices.
Subsea cost cutter
Statoil has developed a new concept for delivering lower-cost horizontal subsea wells in shallow reservoirs, aimed at improving the commerciality of the Barents Sea. In this exclusive report, Terry Knott learns more from the company’s subsea team leaders.
24 June 2016 0:00 GMT
Updated
24 June 2016 0:00 GMT