Archive | Global and Regional Markets

Wärtsilä to deliver generating sets for two well-intervention vessels for Siem Offshore

Posted on 04 July 2014 in Drilling It Safely, Global and Regional Markets, News, The Offshore Frontier

Wärtsilä has received an order to deliver generating sets for two new well-intervention vessels for Siem Offshore from Norway. The vessels are under construction…

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Pre-salt Santos, Campos basins surpass 500,000 bbls of oil/day

Posted on 03 July 2014 in Global and Regional Markets, News, The Offshore Frontier

Oil production in the pre-salt Santos and Campos Basins have surpassed 500,000 bbl/day (bpd),topping-out at 520,000 bpd on 24 June and setting a new daily output record…

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Gazprom Neft begins exploratory drilling in the Arctic

Posted on 03 July 2014 in Global and Regional Markets, Innovating While Drilling, News, The Offshore Frontier

Gazpromneft-Sakhalin, a subsidiary of Gazprom Neft, has started drilling a new exploration well in the Dolginskoye field on the continental shelf in the Pechora sea…

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Petrobras reduces pre-salt drilling time by 55%


Posted on 01 July 2014 in Completing the Well, Drilling It Safely, Global and Regional Markets, News

Petrobras has reduced drilling time by 55%, from 126 days in 2010 to 60 days in 2013 in the pre-salt layer of the Lula and Sapinhoá fields, where it has achieved 30 days…

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GE wins PEMEX surface wellhead, tree contract for GOM project

Posted on 25 June 2014 in Drilling It Safely, Global and Regional Markets, News, The Offshore Frontier

GE Oil & Gas has signed a multi-year agreement with PEMEX to supply and install surface wellheads and trees for an offshore project in the Campeche Sound Ayatsil field in the…

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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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