Industry News

All aspects of energy exploration and production improve over time as new technology changes the paradigms of how assets are extracted from reservoirs. What was once considered radical and industry leading can become outdated and inefficient with each new invention.Tubular running services (TRS) is no exception. The process began with field personnel manually making up tubulars and running into the wellbore. It was time consuming, incurring significant nonproductive time (NPT), and was sometimes fraught with unintended errors that damaged the tubulars and periodically produced inconsistent connection makeup, resulting in frequent work stoppages to remake connections and lay down rejected joints.In

The American Petroleum Institute (API) recently announced a new initiative, Energy for Veterans, designed to attract more veterans and transitioning service members into careers in the oil and gas industry.“Service members and veterans have numerous skill sets that make them ideal candidates for careers in the natural gas and oil industry,” said Anchal Liddar, Senior VP of API Global Industry Services. “Our industry is one of the most veteran-friendly in the country and is committed to supporting the brave men and women who served in the military.”To attract the skilled workforce of the future, API is encouraging veterans and transitioning

The cost of decommissioning oil and gas infrastructure has been cut by 25% in the past five years, according to the latest estimates published in the North Sea Transition ity’s (NSTA) Decommissioning Cost Estimate Report 2022.The report’s forecast fell £1.5 billion (2%) to £44.5 billion last year – contributing to a total cut of £15 billion (25%) since 2017, when the NSTA introduced a baseline estimate of £59.7 billion and set a target of reducing costs by 35% to £39 billion by end-2022.Decommissioning of offshore oil and gas installations is required by law but has long been an expensive and

Aquaterra Energy has been awarded a high-pressure, high-temperature (HPHT) subsea riser contract with Umid Babek Operating Company (UBOC) for the exploration of its HP well on the Babek project in Azerbaijan.Aquaterra Energy will deliver its 15,000-psi subsea riser system, utilizing its AQC-SR connector range, as part of UBOC’s drilling program for the BX-01 exploration well located at the Babek field. Aquaterra Energy will provide a complete end-to-end managed service, as a fully independent riser system and connector OEM, which will be operated via a jack-up MODU, in water depths of 62 m.The system’s AQC-SR quick connectors will provide UBOC with

Abu Dhabi National Oil Company (ADNOC) announced the award of two contracts totaling $2 billion to ADNOC Drilling for the Hail and Ghasha development project. The contracts comprise $1.3 billion for integrated drilling services and fluids, and $711 million for the provision of four Island Drilling Units. A third contract, valued at $681 million, was also awarded to ADNOC Logistics & Services for the provision of offshore logistics and marine support services. All three contracts will cover the Hail and Ghasha drilling campaign for a maximum of ten years.The Hail and Ghasha development project is part of the Ghasha Concession,

On 20 July, the IADC Advanced Rig Technology (ART) Committee held a work session testing out the newly upgraded bit dull grading system. The session, hosted by NOV at its Springett Technology Center in Navasota, Texas, brought together drill bits and SMEs to carry out multiple dull grading exercises using the new system. Demonstrations of machine grading systems were also provided. In this video from the work session, DC talks to workgroup leaders and SMEs in attendance about the project’s progress, feedback from the industry and the next steps.The revised IADC Bit Dull Grading Recommended Practice is available for industry

Equinor has exercised an option on Odfjell Drilling’s Deepsea Stavanger semisubmersible under the contract that originally started in May 2021. Following this addition, the Deepsea Stavanger now has eight remaining wells to be drilled, which are expected to occupy the rig into Q3 2023.Odfjell Drilling said in a statement that the day rate is similar to the current contract up to 1 May 2023 from which time there is an increase if certain CO2 targets have been achieved. A notable performance incentive rate in addition shall apply when wells are delivered safely and ahead of target. Integrated services are provided

Pioneer Natural Resources, Devon Energy and ConocoPhillips announced in a joint statement that they have joined the Oil and Gas Methane Partnership (OGMP) 2.0 Initiative. The initiative is a voluntary, public-private partnership between the United Nations Environment Programme, the European Commission, the Environmental Defense Fund and over 80 oil and gas companies aimed at minimizing methane emissions from global oil and gas operations. Its work has helped to raise awareness of methane emissions and contributed to the growing priority of mitigation activities.The initiative’s reporting framework will provide stakeholders with the assurance that this important greenhouse gas is being managed responsibly.