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Total enters exploration in Guyana Basin with three exploration licenses


Total has signed agreements to acquire interests into two exploration licenses offshore Guyana, the Canje Block and the Kanuku Block. These agreements come after entering into an option agreement for the nearby Orinduik Block. Subject to the approval of relevant authorities, Total will thus own exploration rights to an area covering over 12,000 sq km in the Guyana Basin...

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Deep Sea Mooring picks up Quadrant contract offshore Australia


Deep Sea Mooring (DSM), a Vryhof company, has secured a contract with Quadrant Energy to provide turnkey pre-lay mooring solutions to the Transocean GSF Development Driller 1 semi-submersible drilling rig offshore Australia. The deal, a continuation of previous work for Quadrant Energy, begins in March 2018...

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Process automation becoming key enabler for optimization as market moves deeper into industrialization

Kevin Neveu, President and CEO, Precision Drilling

I would say there are two main things that are on my mind, and the first is wide-scale adoption of industrialized principles. When there’s industrialization, like the kind we see in the unconventionals where we’re mass-producing a large number of identical wells, it really allows you to optimize each step of the process and make significant improvements in efficiency...

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SIMOPs, continuous pumping may help operators create additional value as sizes of well pads expand


Within Total, we have identified safety as a value rather than as a priority. That’s because priorities can change due to environmental factors. For us, safety is a pillar on which we build everything else. We manage and control the risks associated with our activities, both for our employees and for the communities in which we undertake these activities. We also minimize their impact for future generations...

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With dayrates still low, industry may have to look to consolidation to cut costs, accelerate rig retirements

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Newbuild deliveries may exert pressure on jackup market in 2018, but operators likely to maintain preference for high-performing rigs with recent track records By Linda Hsieh, Managing Editor Ihab Toma is CEO of Vantage Drilling. Looking at the global offshore drilling market today, what do you see as the most critical challenges facing this business? It’s utilization, and it’s oversupply. For the past couple of years, the big challenge had been lack of rig demand, but that is starting to come back. However, we still have an oversupply of drilling rigs, and that will continue to put pressure on dayrates. Therefore, at this point, it’s very difficult for us to do much except cut more costs to generate enough margins ...

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Industry must leverage data, automation to create collaborative workflows that eliminate waste


A couple of big challenges come to mind, and first and foremost is keeping talent and getting the right skill sets for our employees. As technology changes and as we find better ways to adopt those technologies into our industry, it’s critically important that we train our workforce so they have the proper skills to deploy those technologies. More and more, our employees are technical specialists, not generalists. We don’t just have petroleum or drilling engineers. We have data scientists and black-belt process experts, as well as application development engineers and integrated planning personnel. The staffing transformation is well under way...

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Next-level automation to go beyond discrete processes, linking data and workflows with digital technologies


To advance drilling efficiencies and ensure profitability for entire supply chain, industry also must shift toward outcome-based contracts on a larger scale By Kelli Ainsworth Robinson, Associate Editor Arindam Bhattacharya is President of Schlumberger Land Rigs. What do you see as the most critical challenges facing oilfield service companies in the current environment? The most fundamental challenge that we continue to face is helping operators reduce their finding and development costs. Over the years, that has not changed; what has changed is our external environment. The oil price has gone through a big shock due to the downturn. We have been at $50 to $60 oil for the past two years, and there is a consensus that we have to ...

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Consolidation, shift away from dayrate model set to transform US onshore drilling industry


One of the biggest challenges the industry faces right now is the dayrate model. The issue is that the dramatic increases in drilling efficiency and wellbore quality made by drilling contractors are not reflected in the dayrate model. The benefit of those advances goes only to the shareholders of the E&P company, not to the shareholders of the drilling contractor...

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