Archive | Global and Regional Markets

OMV: Technology key to halving cost, doubling the number of wells drilled

Posted on 24 June 2014 in Global and Regional Markets, Innovating While Drilling, News, Onshore Advances

From operations onshore Romania to offshore New Zealand, challenges come in all shapes and sizes for OMV E&P, but the Austrian-based operator is…

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KCA Deutag wins land newbuild contract for Brunei Shell

Posted on 23 June 2014 in Global and Regional Markets, News, Onshore Advances

Brunei Shell Petroleum (BSP) has awarded a contract to KCA Deutag’s land division for the construction and operation of a newbuild land rig in Brunei. Bentec will manufacture…

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Study: Oil & gas boost European government treasuries by over €400B annually

Posted on 18 June 2014 in Global and Regional Markets, IADC: Global Leadership, Global Challenges, News

Oil and gas contribute hundreds of billions of euros to European government revenues every year, a new study shows, highlighting how the industry – far from being subsidized…

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UK approves Premier Oil to develop Catcher area in North Sea

Posted on 12 June 2014 in Global and Regional Markets, News, The Offshore Frontier

Premier Oil has received approval of its Catcher area field development plan from the UK Department of Energy and Climate Change. “The Catcher area development shows that…

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Survey: Investors optimistic on upside potential of natural gas, crude oil pricing

Posted on 05 June 2014 in Global and Regional Markets, News

In an energy sector poll, RBC Capital Markets found that 76% of investors and executives believe that the current $100-plus price levels for crude oil will be sustained or…

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US EIA: Domestic production filled 84% of US energy demand in 2013

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

Total US energy production reached 81.7 quadrillion British thermal units (quads) in 2013, the US Energy Information Administration (EIA) reported this week. That is…

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Seadrill signs contract with Total for West Jupiter newbuild

Posted on 02 June 2014 in Global and Regional Markets, News

Seadrill has signed a firm five-year period contract with Total Upstream Nigeria for the newbuild ultra-deepwater drillship West Jupiter. The West Jupiter is a…

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KCA Deutag wins contract for 2 slider rigs for Lukoil

Posted on 02 June 2014 in Global and Regional Markets, News

The Land Division of KCA Deutag has been awarded a contract worth more than $90 million by Russia’s second largest oil company, Lukoil, for the supply of two arctic cluster…

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Precision Drilling secures contract for 1,500-hp newbuild in Middle East

Posted on 29 May 2014 in Global and Regional Markets, News

Precision Drilling has been awarded a contract for a 1,500-hp newbuild that will operate for one of its existing customers in the Middle East with deployment…

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Lukoil begins commercial production from Iraq’s prolific Qurna-2 field

Posted on 29 May 2014 in Global and Regional Markets, News

Russian oil company LUKOIL has begun commercial production operations in the prolific West Qurna-2 oilfield in southern Iraq after reaching a target production level of…

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