The Journal of Petroleum Technology

The Journal of Petroleum Technology is the main magazine of the Society of Petroleum Engineers. It offers reliable articles and insights on new technologies in exploration and production, addresses challenges within the oil and gas sector, and shares updates related to the SPE and its members.

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Articles

Triple-Well Completions Are Now the Norm in US Shale Patch

1 week ago | jpt.spe.org | Trent Jacobs

A new report from the US Energy Information Administration (EIA) found that the average number of horizontal wells completed at the same time has more than doubled over the past decade—from 1.5 in 2014 to just over 3 in 2024. The trend reflects a continual evolution in US onshore hydraulic fracturing operations.
Egypt Greenlights Contracts To Expand Lukoil’s Western Desert Interests

1 week ago | jpt.spe.org | Pat Davis Szymczak

Egypt’s parliament has authorized the Ministry of Petroleum and Mineral Resources to finalize two contracts that expand the interests of Russia’s second-largest oil producer Lukoil in exploration and production in the Western Desert. The agreements approved on 30 April with Lukoil Overseas Egypt Ltd. strengthen Cairo’s strategic alliance with Moscow in energy markets, while growing Lukoil’s footprint in Africa.
Greensand Carbon Dioxide Carrier Nears Completion

1 week ago | jpt.spe.org | Blake Wright

Europe’s first dedicated CO2 carrier currently under construction at Royal Niestern Sander shipyard in the Netherlands is planned to be christened and launched on 14 May. A partnership agreement between chemical giant INEOS and offshore vessel provider Wagenborg for delivery of the CO2 carrier was signed in November 2024. The vessel is designed to transport liquefied CO2 from onshore capture sites to offshore storage in the Danish part of the North Sea.
BW Energy Reaches FID on Maromba Project Offshore Brazil

1 week ago | jpt.spe.org | Jennifer Pallanich

BW Energy has reached final investment decision (FID) for its $1.5 billion Maromba development offshore Brazil and will begin contracting long-lead items and services. BW announced the decision on 5 May for the heavy-oil project, which will use an integrated drilling and wellhead platform (WHP) and a refurbished floating production, storage, and offloading (FPSO) vessel.
Offshore Output Hits Record 50 Million B/D, But Headwinds Loom, Speakers Warn at OTC 2025

1 week ago | jpt.spe.org | Trent Jacobs

Global offshore oil production has reached a record 50 million B/D—nearly half the world’s total output of 102 million B/D in 2025—with volumes projected to climb to 55 million B/D by 2031, according to Rystad Energy CEO Jarand Rystad.
Southern Energy Partners Greenlight FLNG Project

1 week ago | jpt.spe.org | Jennifer Pallanich

Harbour Energy and its Southern Energy partners will move ahead with a project calling for the deployment of two floating liquefied natural gas (FLNG) vessels offshore Argentina. Harbour announced 2 May that the company and partners in the project had reached final investment decision (FID) for the Southern Energy FLNG export project which targets production startup from the Hilli Episeyo vessel around year-end 2027 with the MK II vessel expected to begin operations at the end of 2028.
Chevron Joins Pivot to Egypt’s Mediterranean Shelf After Red Sea Exit

1 week ago | jpt.spe.org | Pat Davis Szymczak

After concessions fist awarded in 2019 failed to yield discoveries, Chevron and other upstream oil and gas majors have exited exploration concessions in the Red Sea to redirect their Egyptian investment portfolios to prospects of greater commercial value.
SBM Lands Kaskida FPU Installation Contract

1 week ago | jpt.spe.org | Blake Wright

SBM Offshore has signed a contract with BP Exploration and Production for the wet-tow and installation of the Kaskida semisubmersible floating production unit (FPU) destined for the deepwater US Gulf of Mexico (GOM). The Kaskida field is a greenfield, 20,000-psi Paleogene development located approximately 250 miles southwest of New Orleans, in Keathley Canyon Block 292.
BP Ousts Strategy Chief Amid 48% Profit Plunge and Activist Investor Pressure, Accelerates Pivot Back to Oil

2 weeks ago | jpt.spe.org | Jaxon Caines

After enduring financial struggles to start the year, including a 48% drop in net profit, BP is making some changes, the company announced in its first-quarter earnings call. A significant change for the British supermajor is the ousting of Executive Vice President of Strategy, Sustainability, and Ventures, Giulia Chierchia, who will step down on 1 June and will not be replaced.
Q&A With Reelwell: Reelwell CEO Says Wired Pipe’s Moment Has Arrived With North Sea Debut

2 weeks ago | jpt.spe.org | Trent Jacobs

Reelwell’s DualLink wired drillpipe is heading offshore for the first time, set to make its debut later this year in a campaign with Vår Energi on the Norwegian Continental Shelf. The Stavanger-based technology developer sees the project as more than a milestone—it’s a chance to shift the narrative around wired pipe, a technology first brought to the market by NOV more than 2 decades ago.