Home / News (page 10)

News

ExxonMobil signs agreement with Eni over gas-rich Mozambique

ExxonMobil

ExxonMobil and Eni recently signed a sale and purchase agreement that will enable ExxonMobil to acquire from Eni a 25% indirect interest in the natural gas-rich Area 4 block, offshore Mozambique. Eni currently holds a 50% indirect share in the block through a 71.4% stake in Eni East Africa, which owns 70% of the Area 4 concession. The agreed terms include a cash price of approximately $2.8 billion. The acquisition will be completed following satisfaction of a number of conditions, including clearance from Mozambican and other regulatory authorities. Eni Chief Executive Officer Claudio Descalzi said, “This deal represents material evidence of our exploration strategy based on the early monetization of our exploration discoveries, as a part of our ‘dual-exploration’ model. Through this strategy, Eni has been able to cash in more ...

Read More »

Well Control School forms alliance with Drilbert Engineering

well-control-school-thumbnail

Well Control School (WCS) announced an alliance with Drilbert Engineering to provide advanced technical drilling operational training for the oil and gas industry. Drilling Supervision and Trouble‐Free Drilling courses, instructed by Drilbert Engineering Founder John Mitchell, are the main stay  for  the  courses  delivered  through  this  alliance.   These training classes will be  conducted at WCS Training Centers and in‐house training locations. The  Drilling  Supervision  course  is  a  five-day course  blending  interpersonal  and  technical  skills  together to assist students in understanding their role as a supervisor.   Special emphasis is applied on professional behavior and work ethics. Trouble‐Free Drilling course is a three-day course that assists adult learners in understanding how to  avoid  downhole  problems  such  as  stuck  pipe  during  drilling  operations.  The course  summarizes the physics associated with downhole ...

Read More »

KCA Deutag lands contracts for geothermal drilling in the Netherlands

KCA Deutag land rig operating in the Netherlands.

KCA Deutag has been awarded a new contract to deliver two geothermal wells in the Netherlands. These wells will be drilled by a 2,000-hp EURO Rig designed by Bentec, the group’s land rig and oilfield equipment manufacturer. The rig has a fully automated pipe-handling system and was one of the first of its kind to be manufactured. Drilling will commence later this month. This is KCA Deutag’s second contract award in the geothermal market in recent months, following an award for two firm plus four optional geothermal wells in Germany in September last year. Commenting on the opportunities in the European geothermal drilling market, Simon Drew, KCA Deutag President of Land, said, “I am delighted to announce further progress in ...

Read More »

Weatherford appoints Mark A. McCollum as President, CEO and Director

weatherford

Weatherford International announced that after a full and diligent search process, the Board has appointed Mark A. McCollum as President and CEO, as well as a member of the Board of Directors, with an effective start date in late April 2017. Mr McCollum is a proven executive with a background spanning over 36 years in the energy sector, most recently as Executive Vice President and Chief Financial Officer at Halliburton Company. In addition to Mr McCollum joining the Board of Directors of the Company, William Macaulay has been appointed Chairman of the Board of Directors...

Read More »

IEA: US leading charge in growing oil supply, but prices could still soar by 2020

us_production_growth

The US is leading the charge in increasing global oil production, but despite this massive contribution, world oil supplies might not meet demand after 2020 without approval of new projects “soon,” warned a new International Energy Agency report. The IEA report, “Oil 2017,” was unveiled at CERAWeek by IHS Market on 6 March in Houston. IEA Executive Director Dr Fatih Birol cited two main takeaways from the study. “We are witnessing the start of a second wave of US shale oil,” he said, cautioning, “We see significant risk of prices rising sharply starting with 2020, unless significant new projects are sanctioned.” While oil supply and demand over the next three years are “comfortable,” IEA projects that supply growth will slow significantly afterward. ...

Read More »

Wood Group begins detailed engineering of Leviathan



img-featured-generic-workersTN_default

Wood Group recently completed the seven-month front-end engineering design (FEED) for Noble Energy’s Leviathan Field Development Project in the Eastern Mediterranean Sea and has started the detailed engineering for the platform – including the topsides and jacket. The FEED and detail design has a total contract value of approximately $95 million.



Read More »