Archive | Global and Regional Markets

ExxonMobil to add 17,800 net acres in Permian Basin

Posted on 19 September 2014 in Global and Regional Markets, News, Onshore Advances

ExxonMobil has entered an agreement with LINN Energy to add 17,800 net acres in the Permian Basin to its US oil and natural gas portfolio managed by subsidiary XTO Energy. In the exchange, LINN Energy will…

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Eni discovers oil onshore Ecuador

Posted on 19 September 2014 in Global and Regional Markets, News

Eni has made a significant oil discovery in Ecuador at the Oglan-2 exploration well located in Block 10, approximately 260 km southeast of Quito Early estimates suggest that the Oglan discovery potentially contains about 300 million bbl of oil in place. The well…

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PTTEP: NOCs, IOCs and service companies must combine strengths to overcome challenges

Posted on 09 September 2014 in Drilling It Safely, Global and Regional Markets, News, Videos

As assets become more mature and operations become more complex, industry is challenged with finding economical and environmentally friendly operating strategies…

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Revitalized IADC Southeast Asia Chapter unites companies to address regional issues

Posted on 09 September 2014 in Global and Regional Markets, IADC: Global Leadership, Global Challenges, News, Videos

The IADC Southeast Asia Chapter hosted its first meeting on 24 August after being dormant for more than five years. The need to address regional issues as a cohesive group…

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Climate, environment challenge operations in Myanmar, Thailand

Posted on 09 September 2014 in Global and Regional Markets, News, Videos

In Q1 this year, Myanmar awarded 20 offshore blocks – 10 shallow water and 10 deepwater. In Q4 last year, 16 land blocks were awarded. “Myanmar is probably one of the last frontier areas in the world with…

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Hess SmartDrill optimization process improves ERD in North Malay Basin

Posted on 09 September 2014 in Global and Regional Markets, Innovating While Drilling, News, The Offshore Frontier, Videos

Last year offshore Malaysia, Hess deployed its SmartDrill drilling optimization process for the company’s first extended-reach drilling (ERD) campaign…

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High-ROP bit development begins with understanding operator goals

Posted on 09 September 2014 in Global and Regional Markets, Innovating While Drilling, News, Videos

Driven by Shell’s goal to increase ROP in the Marcellus, Ulterra developed the FastBack design platform byre-evaluating the way bits are built. The platform aligns the materials, design and manufacturing process to…

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PETRONAS designs, deploys drilling fluid to reach 488°F well offshore Malaysia

Posted on 09 September 2014 in Global and Regional Markets, Innovating While Drilling, News, The Offshore Frontier

Offshore the Malaysian peninsula, PETRONAS Carigali recently deployed a fit-for-purpose, synthetic-based mud to drill an ultra-HPHT, deep gas exploration well…

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Fit-for-purpose designs, technologies drive sustainable growth in Asia Pacific

Posted on 08 September 2014 in Global and Regional Markets, News, The Offshore Frontier

By 2050, the world’s population is expected to reach 9 billion, and energy demand is expected to double. Industry leaders agree that, in order to safely deliver…

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Statoil farms into acreage offshore Colombia

Posted on 05 September 2014 in Global and Regional Markets, News, The Offshore Frontier

Statoil has signed farm-in agreements with Repsol, acquiring a 10% equity share in the Tayrona license and a 20% equity share in the Guajira Offshore 1 license, both offshore Colombia…

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