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West Africa development forges ahead, despite downturn

Posted on 18 March 2009 in News

 Economic crisis notwithstanding, activity in West Africa forges ahead. Recently, both BP and Anadarko announced discoveries, while TOTAL revealed the early startup on its Akpo deepwater development offshore Nigeria.

BP and its partner, Angolan national oil company Sonangol, announced the Leda discovery in ultra-deepwater Block 31, its 17th discovery in the block, located in its central northern portion, roughly 415 km northwest of Luanda and 12 km southwest of the Marte field.

The discovery well was drilled by the Transocean Explorer in 2,070 m (6,790 ft) of water and reached a TD of 5,907 m (19,381 ft). BP said that Leda is the fifth discovery in Block 31 where the exploration well was drilled through salt to access the oil-bearing sandstone. The well tested at 5,040 bbl/day through a 36/64ths choke, according to the company.

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BP intends to 'drive deflation' in 2009, cutting downstream & alternative energy spending; E&P spend

Posted on 18 March 2009 in News

 BP Chief Executive Tony Hayward said BP intends to “drive deflation” in the business during 2009, after holding costs flat last year. Speaking recently to financial analysts in London, Mr Hayward singled out refining, marketing and alternative energy as areas for cuts in capital expenditures, pledging to maintain E&P spending.

"Our view is that the right current balance is both to continue paying the dividend and to maintain investment to grow the firm – and to use the capacity of our balance sheet while the industry cost structure adjusts,” he said. "We began our drive in 2007 to counter the cost inflation that had developed alongside rising oil prices. Our mantra is that every dollar counts and every seat counts, and we are applying it with determination.”

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Shell announces succession plans for non-executive directorships

Posted on 18 March 2009 in News

 The Board of Royal Dutch Shell announced the proposed election of Jeroen van der Veer as non-executive director, after his retirement as chief executive on 30 June 2009. He will replace Maarten van den Bergh, who retires at Shell’s 19 May Annual General Meeting, following nine years as non-executive director and a total of 41 years with Shell.

 

 

 

 

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Larry Dickerson, Diamond Offshore, is 2009 IADC Contractor of the Year

Posted on 05 March 2009 in News

 Larry Dickerson, Diamond Offshore, was named 2009 IADC Contractor of the Year during a luncheon at the Houston Petroleum Club on 4 March. The award, sponsored for the 22nd year by NOV ReedHycalog, recognizes outstanding contributions and leadership to the association and the drilling industry.

“This is a tremendous honor. The list of past recipients is incredible, with many pioneers in the industry. I’m certainly humbled to be grouped with them,” Mr Dickerson said in accepting the award.

Referring to a quote by Milton Friedman asserting that no one can make a pencil – because no one person possesses all the skills needed to make the pencil – Mr Dickerson said he believes that “no one can drill a well.” It requires not only the expertise of drilling contractors, but also many other disciplines from service companies, operators, regulators and governments.

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Ed Jacob, Marshall Ballard receive IADC Exemplary Service Awards

Posted on 05 March 2009 in News

 

From left: Claus Hemmingsen, Maersk Drilling, Marshall Ballard, ENSCO,
Ed Jacob, and Dr Lee Hunt, IADC

IADC president Dr Lee Hunt presented Exemplary Service Awards to longtime IADC members and industry stalwarts Ed Jacob and Marshall Ballard, ENSCO, on 4 March at the IADC Contractor of the Year Luncheon & Directors Meeting, held in conjunction with the Houston Chapter.

Mr Jacob, who left Grey Wolf Drilling earlier this year, accepted the award by thanking IADC, commenting, “It’s humbling to be presented this award on the same day as Marshall Ballard, a true legend in our industry.”

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Speaker: Industry must play by new rules in new energy era

Posted on 05 March 2009 in News

 The world lives in a new energy era now, and the oil industry must learn to play by the new rules if it wants to maintain its dominant role in the global energy market, said Dr Nansen G Saleri, CEO and president of Quantum Reservoir Impact, during the IADC Contractor of the Year Luncheon and Directors Meeting on 4 March, held in conjunction with the Houston Chapter.

In a multifaceted keynote presentation titled “The Future of Oil,” Dr Saleri began by describing the parameters defining the energy market as the “Imperfect Storm.” Factors like the world recession, price volatility, geopolitics, resource nationalism, Peak Oil, renewable energy and global warming – they’re all key ingredients in the energy equation that make it difficult to make predictions about the oil business.

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IADC elects VP of drilling & well servicing division, secretary-treasurer

Posted on 05 March 2009 in News

 David Reid, VP – E&P technology & business of National Oilwell Varco, was elected IADC vice president of the drilling & well servicing division at the association’s Directors Meeting on 4 March. Additionally, Beth Gordon, controller for Diamond Offshore, was elected secretary-treasurer.

As NOV’s VP – E&P technology & business, Mr Reid is responsible for developing corporate business interaction with strategic E&P companies. Since he joined Varco International 17 years ago, he has been widely recognized for his contributions to the drilling industry. He is the chairman of the IADC Advanced Rig Technology Committee and is an active member of the SPE Drilling Systems Automation Technical Interest Group.

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14 winners in OTC Spotlight on New Technology awards

Posted on 05 March 2009 in News

 The Offshore Technology Conference (OTC) announced this week that 14 technologies will receive the 2009 Spotlight on New Technology Awards, recognizing innovative technologies significantly impacting offshore exploration and production.

Spotlight recipients and products for 2009:

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'09 Middle East Drilling Technology Conference set for October in Manama, Bahrain

Posted on 05 March 2009 in News

 “Managing Limited Resources to Overcome Today’s Challenges” is the theme of the SPE/IADC Middle East Drilling Technology Conference (MEDT), taking place 26-28 October 2009 at the Gulf Hotel, Manama, Bahrain. The event will cover equipment, technology and industry challenges.

MEDT is still calling for papers. Proposals on any of the 11 main topics below can be submitted by 21 March 2009.

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Alliance to fund, transfer technologies to minimize drilling's environmental impact

Posted on 05 March 2009 in News

 The Houston Advanced Research Center (HARC) and Texas A&M University recently announced the creation of a collaborative research program to promote advanced technology for low-impact oil and gas drilling.

The University/National Laboratories Alliance, established as part of the Environmentally Friendly Drilling (EFD) Program, will fund and transfer critical new technologies that can accelerate development of domestic reserves in a safe and environmentally friendly manner. The research is aimed specifically at technologies that can be used in environmentally sensitive areas that are currently off limits to drilling and production.

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