The Energy Consulting Group
Business strategy for upstream oil and gas producers and service companies
Our focus is to develop and implement strategies
that are practical, sustainable and allow organizations to achieve their
full potential. Our consultants have long histories of working closely with
senior executive teams of firms of all sizes to help their companies not
only be successful, but achieve performance that stands out relative to
peers.
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Arctic Ocean Oil and Gas "Searching for monsters at the ends of the earth" |
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| Very large oil and gas fields have been discovered and will be discovered in the Arctic Ocean. These large fields are strategic necessities for large oil and gas companies, such as ExxonMobil and Shell. In addition to being large, the technical complexity of developing large oil and gas fields allows the large firms to fully exploit their strong technology/financial capabilities. |
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E&P News and Information Scandinavian International and National International Energy
Agency Department of Trade and Norwegian
Petroleum Ministry of Industry
and E&P Project Information |
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Chukchi Sea Oil and Gas Overview Shell and ExxonMobil Acreage Positions Relative to One Another  Click on image for higher resolution image. Particularly notable is how much larger the Chukchi Sea acreage position of the ExxonMobil-Rosneft partnership is in comparison to that of Shell and the other interest owners in US waters. Further, it is apparent, especially with the large Burger discovery, as well as the discoveries in the Pechora/Barents Sea areas of Russia, that very large oil and gas fields exist in the continental margins of the Arctic Ocean, be it the Kara Sea, Laptev Sea, or the Chukchi Sea. |
Chukchi Sea: Burger Discovery
Resource Potential Summary Click on image for higher resolution image. |
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Alaska Federal Offshore Districts With Reported Oil and Gas Wells  |
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Extent of ExxonMobil-Rosneft Arctic Ocean Partnership Click on image for higher resolution image. |
ExxonMobil in 2013 indicated in a presentation prepared for
investors that its Arctic Ocean initiative with Rosneft involved a total of
181 million acres of oil and gas development rights in some of the most prospective oil
and gas areas in the world. If the initiative were a
country, it would rank between Mozambique and Turkey in size,
making it the 37th largest country in the world. This initiative is being pursued in partnership with Rosneft, the Russian state oil company. |
The Kara Sea Is Highly Prospective for Oil and Gas Click on image for higher resolution image. |
In 2014, the ExxonMobil-Rosneft partnership announced the
drilling of the University well (also called Universitetskaya-1
by the Russians), in the East-Prinovozemelskiy-1 (EPZN-1) block,
which is adjacent to and runs parallel to the Novaya Zemlya
island According to Rosneft, the well: - Is the northern most in the world - Discovered 100 million tons of oil and 338 bcm of gas, or roughly 720 million barrels, and 11 TCF of natural gas Per information supplied by ExxonMobil, there are at least 50 similarly sized prospects in the Kara Sea acreage blocks of EPZN-1, EPZN-2, adn EPZN-3. |
Russian Oil and Gas Developments in the Pechora Sea- namely the
Shtokman gas field and the Prirazlomnoye oil field.  Click on image for higher resolution image. |
Prirazlomnoye Platform in the Pechora Sea Click on image for higher resolution image. |
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