Industry News

Energy security concerns outweigh clean and affordable energy on the list of priorities for energy companies globally, as the industry says the energy system will not resolve the energy trilemma in the next decade, according to DNV’s research analyzing the views of more than 1,300 senior energy professionals, based on a survey conducted during December 2022 and January 2023.Energy security will take center stage for oil & gas and power sectors in the year ahead. Renewables players are maintaining their clean energy focus, while the priorities of industrial energy consumers contrast with their suppliers and partners, as they prioritize accessible

Halliburton and Siguler Guff announced the launch of the Envana Software Partners joint venture (JV). The JV provides emissions management software-as-a-service (SaaS) solutions to track greenhouse gas emissions in the oil and gas industry. The Halliburton-created software incorporates the company’s operational expertise and oilfield best practices. Future Envana products that are now in active development will support methane detection and quantification management.The venture’s first offering, Envana Catalyst, is a SaaS system that helps increase transparency of the environmental impact of drilling, completions and production operations. It can improve the visibility of greenhouse gas emissions tracking and forecasting companywide and can

INEOS Energy has acquired a portion of Chesapeake Energy’s oil and gas assets in the Eagle Ford Shale in South Texas for $1.4 billion. The deal marks INEOS Enegy’s entry as operator into the US onshore oil and gas market, as it acquires 2,300 wells, producing net 36,000 BOED.The acquisition, which includes production and exploration leases across 172,000 net acres, is expected to complete in Q2, with an effective date of October 2022. The addition of Chesapeake’s assets and operations in South Texas is part of INEOS Energy’s strategy to build a global integrated portfolio, fit for the energy transition,

The incorporation of automation and artificial intelligence in hydraulic fracturing operations has been a key focus area for Halliburton in recent years. At the 2023 SPE Hydraulic Fracturing Technology Conference in The Woodlands, Texas, on 31 January, the company highlighted a recent entry into its product line, the SmartFleet operating system. It integrates automation and visualization of subsurface data among multiple wells simultaneously to optimize frac placement. Speaking to DC from the conference, William Rhule, Strategic Business Manager at Halliburton, explains how SmartFleet can be combined with another technology, the ExpressFiber disposable fiber cable, to provide valuable real-time insights into

Vast, a solar power company, announced that it has entered a business combination agreement with Nabors Energy Transition Corp (NETC), an affiliate of Nabors Industries. The implied equity value from the newly combined company will be between $305 million and $586 million. The transaction is expected to be completed in either Q2 or Q3 2023.Vast had previously developed a proprietary solar power system that uses a distributed modular tower design and a sodium heat transfer loop to gather energy from the sun, which is then stored in molten salt for later dispatch as either power or heat. The company is

According to the new Global Energy Talent Index (GETI) report released 14 February, oil and gas has become the most popular sector for energy workers looking to change roles, and this has sent salaries soaring above pre-pandemic levels.The report, which was conducted by STEM workforce consultancy Airswift, found that 44% of oil and gas workers saw their pay increase last year and two-thirds expect further salary rises next year. Optimistically, 41% expect bumper pay rises of over five per cent next year.Sector-wide salaries are being inflated by fierce competition for oil and gas talent, with almost one-in-three oil and gas

Shelf Drilling has secured a one-year contract extension for the Rig 141 jackup in direct continuation of its current term with Gemsa Petroleum Company for operations in the Gulf of Suez offshore Egypt. Following this extension, the expected availability of the rig is February 2024.（2023-02-09）

The North Sea Chapter of the International Association of Drilling Contractors (IADC) urged the Scottish and UK governments and all areas of the oil and gas industry to cooperate to better effect and ensure the sector takes a balanced, long-term approach to the energy transition. This comes in response to the North Sea Transition ity (NSTA) stating “a wave of new opportunities” for the UK’s offshore supply chain will be created by projects following a study it conducted in conjunction with the Global Underwater Hub (GUH).While backing the report’s general findings, with oil and gas supporting 75% of the UK’s