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Global and Regional Markets

Keppel FloaTEC secures engineering, construction support services contract for first TLWP in Vietnam

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Keppel FloaTEC, a wholly-owned subsidiary of Keppel Offshore & Marine (Keppel O&M) has secured a contract worth about $40 million from PTSC Mechanical & Construction (PTSC M&C) to provide engineering, technology and construction management support services for the Repsol Ca Rong Do Tension Leg Wellhead Platform (TLWP) to be built in Vietnam...

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IBP: Brazil is ‘on the right track’ with changes to local content, tax regimes, environmental licensing

IBP Secretary-General Milton Costa Filho expressed confidence that improvements will be coming soon to Brazil’s environmental licensing process. Technical engagements with IBAMA are helping the agency to understand how the E&P industry works and what its technical issues are, he said. “We are also bringing experience from other countries. Having benchmarks is very important,” he said.

It might be an understatement to say that the Brazilian oil and gas industry is in a state of flux. With the double whammy of a global oil price collapse and a corruption scandal that brought its national oil company to the brink of meltdown, Brazil looked like it was headed for some deeply troubling times...

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OriginClear to test water treatment solution at Sinopec shale gas site in Chongqing, China

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OriginClear, a leading provider of water treatment solutions, announced its partnership with a regional organization in the Chinese province of Shandong for remediation of a shale gas site operated by the government-owned Sinopec Group, Asia's largest oil and gas company, and the second largest in the world, as listed in the Fortune Global 500...

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Newfield’s oil well breaks record 24-hour peak, 20-day average oil production rates

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Newfield Exploration Company‘s STACK (Oklahoma’s Sooner Trend oilfield, Anadarko Basin, and Canadian and Kingfisher counties) well recently achieved record oil production, according to the company’s recently disclosed results. Newfield has also raised expectations for its Q1 2017 domestic production. The Burgess well (4,859-ft lateral length), located in Kingfisher County, Okla., and the heart of the company’s 300,000 net STACK acres, achieved a 24-hr flow rate of 2,931 bbl of oil equivalent per day (BOEPD) (69% oil) and a 20-day average rate of 2,492 BOEPD (70% oil). When compared against publicly available industry data, the Burgess achieved record 24-hr oil production per 1,000 ft of gross perforated interval (1,000 ft GPI), or 417 bbl of oil per 1,000 ft GPI. The well also had a record 20-day ...

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First oil flows from the Flyndre field

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Production has begun from the Maersk Oil-operated Flyndre field in the UK and Norwegian North Sea. First oil began to flow on 26 March, traveling 25 km via pipeline to the Repsol Sinopec-operated Clyde platform. Production from the Flyndre field is expected to peak at 10,000 barrels of oil per day, with the field expected to produce until at least 2023. As well as today’s new production, Maersk Oil continues to focus on the North Sea region, where it is delivering value from a substantial producing asset base and major new developments such as the Maersk Oil-operated Culzean field on the UK Continental Shelf and the company’s stake in Norway’s Statoil-operated Johan Sverdrup field. Gretchen Watkins, Maersk Oil CEO, said, ...

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Maersk Drilling secures contract for jackup Maersk Gallant

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Maersk Drilling has been awarded a contract for the harsh-environment jackup rig Mærsk Gallant, following a competitive tendering exercise by Nexen Petroleum UK, a wholly owned subsidiary of China National Offshore Oil Corporation. The contract covers the drilling of the High-pressure, High-temperature (HPHT) exploration Glengorm well, in the UK sector of the North Sea. The contract duration is estimated for 140 days and is expected to commence in the Q3 of 2017. “I am glad to announce that Maersk Drilling has been able to secure a new contract for the jackup rig, Mærsk Gallant. Despite the current market downturn, Maersk Drilling has secured three new contracts in the past four months,”said Michael Reimer Mortensen, Vice President and Head of Global Sales ...

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