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Keppel signs Heads of Agreement with Borr Drilling for Transocean Rigs

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Five jackup rigs currently being built by Keppel FELS Limited (Keppel FELS) for Transocean will be novated to Borr Drilling Limited of Bermuda (Borr Drilling), due to a recently signed Heads of Agreement. The transaction between Keppel FELS, a wholly-owned subsidiary of Keppel Offshore & Marine Limited (Keppel O&M), and Borr Drilling was approved by Transocean, and is subject to all three parties executing definitive agreements and satisfying formal closing conditions. The transaction is expected to be completed by the end of May 2017. In 2013, Transocean ordered five KFELS Super B Class jackup rigs from Keppel FELS for US $1.1 billion, and made a 20% down payment. Under the new agreement, Borr Drilling will take over the contracts and ...

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Lyndol Dew named Chairman of Well Control Institute

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Lyndol Dew of Diamond Offshore Drilling has been named as the new Chairman of the Well Control Institute (WCI). Mr Dew was confirmed as Chairman at the IADC Executive Committee meeting on 16 March in The Hague, The Netherlands. Mr Dew is Senior Vice President of Special Projects and Strategic Initiatives for Diamond Offshore. He graduated from Florida State University in 1976 and received his Master of Engineering from Tulane University in 1982. Mr Dew served in the US Navy as a Surface Warfare Officer for six years. He has subsequently worked in various domestic and international positions for Diamond Offshore, on rigs and shore-based, for the past 32 years. Mr Dew is a Charter member of the Board of ...

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Jørn Madsen: Industry must embrace collaboration, automation to compete with other energy sources

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By Kelli Ainsworth, Associate Editor In a cyclical industry like oil and gas, downturns are an unfortunate reality. When downturns hit, the industry always works to cut costs, but they inevitably rise again in the next upturn. However, this cycle may prove different, Jørn Madsen, CEO of Maersk Drilling, said in the plenary session at the 2017 SPE/IADC Drilling Conference in The Hague, The Netherlands, on 15 March. “I think we’re facing a new reality,” he said. “We will not just be competing against each other. We will be competing against other energy forms like solar and wind, and that means that the oil industry, if we don’t change, will lose and lose fast.” Increased collaboration and automation could help ...

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Shared understanding, definitions of process safety, barriers could benefit industry

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By Kelli Ainsworth, Associate Editor In the drilling industry, the journey to process safety can often be much more complicated than the journey to personal safety. While the latter has already been built into the way the industry operates, many companies are still seeking the best way forward with the former. For Atwood Oceanics, although the company recognizes there is still a long road ahead, their journey to process safety has already resulted in “forward progress with regard to prediction and prevention, and even control of the possible process safety incidents that we might have offshore,” John Gidley, Vice President of HSE, said at the 2017 SPE/IADC Drilling Conference in The Hague, The Netherlands, on 15 March. Atwood’s journey began ...

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Considering its complexity, oil and gas industry is not as slow to innovate as many think

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The drilling industry has long been labeled as being slow to embrace new technologies and innovation. However, that may not be an accurate characterization of the industry, Ekaterina Minyaeva, Drilling Automation, Subsurface and Wells Consultant at OTM Consulting, said in a presentation at the 2017 SPE DSATS/IADC ART symposium on 13 March in The Hague, The Netherlands...

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Data analysis, visualization project develops drilling engineers of the future

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As big data and automation play increasingly significant roles in drilling operations, the skill sets required of drilling engineers of the future are also changing. For one, they will need to be adept at data analysis, Dr Eric van Oort, Consortium Director for the RAPID program at UT’s Cockrell School of Engineering, said at the 2017 SPE/IADC Drilling Conference in The Hague, The Netherlands...

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New interface protocols drive communication efficiencies between subsea control modules and subsea sensors

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The Subsea Instrumentation Interface Standardization (SIIS) network released its Recommended Practice and Standard Text for inclusion in API17F, the American Petroleum Institute’s (API) Standard for Subsea Production Control Systems. The three instrument interface protocols, covering analogue devices, digital serial devices and Ethernet TCP/ IP devices, will help improve subsea reliability by standardizing communications between subsea control modules and subsea sensors. SIIS was established in 2003 with a remit to create an open standard for the benefit of the oil and gas industry as a whole. The new Recommended Practice and text for an API Standard is expected to improve communication between members and strengthen the subsea control system ‘community’, reduce project lead and delivery times, remove repeated one-time engineering costs, ...

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