Archive | Global and Regional Markets

Wee Yiaw Hin, PETRONAS: Industry must increase speed of innovation to meet market demands

Posted on 06 January 2015 in Global and Regional Markets, Innovating While Drilling, News

Although cost and efficiency are important factors to consider as the oil and gas market slows down, companies also…

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NOV aims to deploy downhole-driven, closed-loop automation in Middle East in 2015

Posted on 06 January 2015 in Drilling Rigs & Automation, Global and Regional Markets, Innovating While Drilling, News

Automated closed-loop systems that are fed by downhole sensor packages may soon play a big role in Middle East drilling projects..

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Rowan secures new jackup contracts, extensions

Posted on 05 January 2015 in Global and Regional Markets, News, The Offshore Frontier

Rowan Companies’ Joe Douglas, a LeTourneau Technologies 240-C Class jackup, has been awarded a one-well contract with Fieldwood in the Gulf of Mexico for…

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Seadrill purchases ultra-deepwater drillship West Polaris

Posted on 02 January 2015 in Global and Regional Markets, News, The Offshore Frontier

Seadrill has exercised a purchase option for the West Polaris, a sixth-generation ultra-deepwater drillship, from Ship Finance International Limited. The West Polaris was…

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BP, 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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