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Interior Department initiates new five-year oil/gas leasing program for OCS

Posted on 31 July 2008 in News

MMSSaying the nation’s energy situation has dramatically changed in the past year, Secretary of the Interior Dirk Kempthorne has jumpstarted the development of a new oil and natural gas leasing program for the US Outer Continental Shelf (OCS). The action could give the next administration a two-year head start in expanding energy production from federal offshore jurisdictions, including some areas where a congressional ban had prevented oil and gas development.

“When our current five-year program for Outer Continental Shelf oil and gas leasing was launched in July 2007, oil was selling for $64 a barrel,” Mr Kempthorne said. “Today a barrel of oil costs more than $120, almost double the price a year ago. Clearly, today’s escalating energy prices and the widening gap between US energy consumption and supply have changed the fundamental assumptions on which many of our decisions were based.”

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ExxonMobil announces $1.1 billion Turrum Field development

Posted on 31 July 2008 in News

ExxonMobilExxonMobil has announced the Gippsland Basin Joint Venture, which includes its subsidiary, Esso Australia, will invest $1.1 billion to develop more than 270 million oil-equivalent bbl from the Turrum field in the Bass Strait, offshore southeast Australia.

The development follows the recent announcement of $1 billion in funding to develop natural gas from the Kipper field, also in the Bass Strait.

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Transocean to participate in Corporate Eco Forum

Posted on 31 July 2008 in News

TransoceanTransocean recently became a member of the Corporate Eco Forum, an invitation-only group of companies who have “demonstrated a seriousness of purpose around the environment as a business strategy,” underscoring the company’s commitment to corporate responsibility.

“The invitation to participate in the Corporate Eco Forum is a great testament to our ongoing commitment to environmental stewardship and the company’s leadership position in this arena compared to our peers,” said Adrian Rose, Transocean’s VP of QHSE.

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IADC forms European Operations Forum

Posted on 31 July 2008 in News

As part of its continuing effort to promote HSE commitment and advances in drilling technology, IADC is forming the European Operations Forum (EOF). The EOF will build on the achievements of the European Working Group and develop a stronger IADC regional body focusing on policies that effectively meet drilling contractors’ 21st-century needs.

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Halliburton introduces WellLife III cementing solution

Posted on 31 July 2008 in News

Halliburton Cement Assurance Tool

Halliburton Cement Assurance Tool

Halliburton has announced the delivery of WellLife III cementing service, a comprehensive solution designed to increase the economic life of wells. The solution incorporates three synergistic components: diagnostics tools, engineered cement systems and zonal isolation assurance tool.

The service aims to evolve the cementing operation beyond the conventional cement-design method that predominantly focuses on well-construction activities. This service is an interventionless react-and-respond solution designed to help address the industrywide challenge of the loss of zonal isolation due to changes in the wellbore that can stress the cement sheath and lead to destabilization at any point during the life of the well.

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DOE, drilling contractors meet to discuss geothermal drilling

Posted on 14 July 2008 in News

DOERepresentatives from the US Department of Energy (DOE) met with drilling contractors in a meeting at IADC’s Houston headquarters in early June to discuss geothermal drilling and the new drilling opportunities it can offer rig owners.

The DOE is renewing its push for geothermal E&P through increased funding for research & development – on 18 June, the group announced it’s making $90 million available over the next four years for new technology projects. The goal is to enable commercialization of enhanced geothermal systems (EGS), which the DOE believes has the potential to make geothermal energy a true alternative to oil and natural gas.

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Norwegian Petroleum Museum hosts meeting of IADC International Forum of Energy Centres and Museums

Posted on 14 July 2008 in News

IFECM

From left: Kathy Shannon, the Petroleum Museum; Jason McFarland, IADC; Dianne Allen, Canadian Petroleum Interpretive Center; Sandra Mourton, Offshore Energy Center; Paul Bernhard, Houston Museum of Natural Science; Finn Krogh, Norwegian Petroleum Museum; Gulnara Agayeva, Caspian Energy Centre; Seth Green, International Petroleum Museum & Exposition; and Martin Salesch, Deutsches Erdölmuseum Wietze.

Stavanger, a critical operations base for Norway’s buzzing drilling industry, was the host city for the third gathering of IADC’s International Forum of Energy Centres and Museums (IFECM) on 16-17 June. Delegates from eight energy centers representing five countries – Azerbaijan, Canada, Germany, Norway and the United States – convened at the Norwegian Petroleum Museum to share ideas on improving public perception of the drilling industry.

Participants discussed ongoing projects, as well as possible future collaborative efforts such as the digitization/preservation of historical oilfield documents. However, the central theme of the forum remained public outreach, and the group shared ideas such as brown-bag lunches, career days, discovery days, “pre-visit packs” and family activity days.

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IADC chairman Lindsay meets with Colorado governor

Posted on 14 July 2008 in News

John Lindsay2008 IADC chairman John Lindsay of Helmerich & Payne joined a group of producer representatives in a Denver meeting with Colorado Gov. Bill Ritter in late May to express grave concerns about proposals of the Colorado Oil and Gas Conservation Commission (COGCC) to limit E&P activity in the state.

Specifically, Mr Lindsay took issue with draft regulations that would suspend drilling operations for three months each year, allegedly in the interest of wildlife protection. On behalf of the drilling industry, he argued that not only would that discourage contractors from working in the state, but the drilling suspension could actually be as long as five months, considering the time needed for rig mobilization and de-mobilization.

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Scorpion Offshore marks entry to deepwater floater market with order to construct new semi

Posted on 14 July 2008 in News

 A compact fifth-generation rig design, the DSS 38 has an enhanced deck load capacity and a user-friendly layout.

Scorpion Offshore has signed a contract with Keppel FELS to construct a deepwater semisubmersible at Keppel’s shipyard in Singapore. Construction is expected to span 42 months, with delivery in Q4 2011 at an anticipated cost of approximately $700 million, including owner furnished equipment, commissioning, project management and financing costs.

This rig will be based on Keppel’s proprietary DSS 38 design, a dynamically positioned, four-column semisubmersible capable of drilling wells to 8,500 m in water depths up to 2,400 m. The rig was ordered pursuant to a letter of commitment (LOC) from Petrobras for operations beginning prior to June 2012. The LOC has a duration of six years with potential revenue of approximately US $1.1 billion plus operating cost inflation adjustments throughout the contract term.

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Transocean, Petrobras announce 10-year rig deal

Posted on 14 July 2008 in News

Transocean announced in late June that its subsidiaries have reached an agreement with subsidiaries of Petrobras and Mitsui to acquire a newbuild ultra-deepwater drillship under a capital lease contract. In conjunction with the capital lease contract, subsidiaries of Petrobras and Transocean have entered into a 10-year drilling contract covering worldwide operations, with an option by Petrobras to extend the term of the drilling contract by up to an additional 10 years.

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