Archive | Global and Regional Markets

BP and SOCAR to explore shallow water Absheron Peninsula

Posted on 22 December 2014 in Global and Regional Markets, News, The Offshore Frontier

BP and SOCAR signed signed a new production sharing agreement (PSA) to jointly explore for and develop potential prospects in the shallow water area around the Absheron Peninsula…

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Saudi Aramco: Four factors for a sustainable drilling business

Posted on 17 December 2014 in Global and Regional Markets, News

Despite the modest growth in demand and drop in oil prices today, the long-term outlook for industry is healthy. “Our industry will need to add around 40 million bbl per day for new capacity…

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Ensco development program produces driller in 3 years

Posted on 16 December 2014 in Drilling It Safely, Global and Regional Markets, News

Ensco’s Accelerated Development Program (ADP) takes a “green” individual and, within a three-year period, trains them to become a driller. In response to personnel shortages in various areas, including drilling…

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IADC’s Southern Arabian Peninsula Chapter addresses safety, local content issues

Posted on 16 December 2014 in Global and Regional Markets, IADC: Global Leadership, Global Challenges, News, Videos

IADC’s Southern Arabian Peninsula Chapter (SAPC) has expanded its reach in the last year with subcommittees to address regional challenges, such as competency…

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Eni completes production test on Minsala Marine 1 exploration well offshore Congo

Posted on 16 December 2014 in Global and Regional Markets, News, The Offshore Frontier

Eni has successfully completed the production test on the Minsala Marine 1 NFW, located in the Marine XII Block offshore Congo, 35 km from the shoreline and 12 km…

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Eni begins oil production at West Hub Development offshore Angola

Posted on 09 December 2014 in Global and Regional Markets, News, The Offshore Frontier

Eni has started production of first oil from the West Hub Development Project in Block 15/06 offshore Angola, approximately 350 km northwest of Luanda and 130 km west of Soyo. The field is currently producing…

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Former CEO of PEMEX: ‘Scope and depth of reform is really a game changer’

Posted on 03 December 2014 in Global and Regional Markets, News

The opening of Mexico’s oil and gas sector to foreign companies creates opportunities not only for E&P, but also supply chain management…

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Independence Contract Drilling deploys 11th rig to Permian Basin

Posted on 03 December 2014 in Global and Regional Markets, News, Onshore Advances, Videos

As the US strives to reach energy independence, Chris Menefee, Vice President of Business Development for Independence Contract Drilling (ICD), believes the land drilling business will see more opportunities for…

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Analyst: Low oil prices likely to delay upstream developments in northwest Europe

Posted on 01 December 2014 in Global and Regional Markets, News

With oil prices falling to a four-year low, the development of two frontier basins in northwest Europe, the Barents Sea and the West of Shetland (WoS)…

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US EIA: Increase in energy demand requires 33 million bbl/day more oil

Posted on 26 November 2014 in Global and Regional Markets, News, Videos

The world is going to need one-third more oil between 2010 and 2040, with developing countries, such as China and India, accounting for a major portion in the increase in…

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