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Reid: Downturns are painful, but they’re also good for our industry


At the 2016 IADC/SPE Asia Pacific Drilling Technology Conference, held 22-24 August in Singapore, one panel session was devoted to the question of whether the various stakeholders in the industry can achieve mutual profitability in transformational times such as these. For David Reid, Chief Marketing Officer for National Oilwell Varco (NOV), the answer is simply that we must, and we will. “We understand that we must find a way,” he said, adding that downturns – while painful – is actually good for the industry. When times are good, companies typically don’t have time for anything but execution. But when times are bad, it’s time to learn and improve. “It causes us to ask really hard questions,” he said.

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ABS, partners test Polar Code requirements through search and rescue exercise offshore Norway

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In April, ABS partnered with the Norwegian coast guard, academic institutions and other stakeholder companies to perform a search and rescue exercise in Svalbard, Norway. The University of Stavanger, Company GMC and the Norwegian Coast Guard organized the exercise, which took place on the K V Svalbard, a Norwegian Coast Guard vessel. The exercise was conducted to gain a better understanding of the IMO Polar Code’s requirements, which many in the industry regard as vague, according to ABS. For example, the code requires the crews of maritime vessels, including drilling rigs, to be equipped be able to survive five days in polar waters while awaiting rescue. There was concern about whether this was even possible with existing equipment, said ABS ...

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To reduce system costs, industry must look to collaboration, digitization, integration


By Linda Hsieh, Managing Editor Although the industry has been working to reduce costs in this downturn, few structural changes have been introduced, particularly toward total system costs. In the face of not just low oil prices but also competition from renewable energy sources, “if we don’t manage to reduce our finding and development costs, we will be out of market in 50, 60, 70 years because other industries are consistently reducing costs,” Rajeev Sonthalia, President of Integrated Drilling Services for Schlumberger, said at the 2016 IADC/SPE Asia Pacific Drilling Technology Conference on 22 August in Singapore. He urged the industry to look further at collaboration, noting that earlier collaboration between supplier and operator is necessary in order to engineer ...

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Petronas implements enterprise-level real-time data management infrastructure

Petronas implemented the Real Time Well Solution, an enterprise real-time data management solution with web-based delivery, in 2014. The data management infrastructure is helping the operator to better manage its rig-site drilling operations from remote locations.

Although Petronas had established its Smart Drilling Optimization Monitoring Centre (Smart DOMC) in 2010, the operator decided in 2014 to change its approach to rig-site monitoring. “At that time, the environment of the real-time (monitoring) was fully managed by a service company, so we felt that we didn’t have control,” Noorazmah Yusoff with Petronas said in a presentation at the 2016 IADC/SPE Asia Pacific Drilling Technology Conference, held 22-24 August in Singapore. “We wanted to have more control of the data, from the location portion up to the integration portion of it.”

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Drilling contract awarded to Frigstad Shekou drilling rig

The Frigstad Shekou and the Frigstad site supervision and operations team at Yantai CIMC Raffles Offshore.  The Frigstad Shekou is the first of two ultra-deepwater semisubmersible rigs ordered by Frigstad Deepwater in December 2012.

A drilling contract has been awarded to the Frigstad Shekou, which is the first of two ultra-deepwater semisubmersible drilling rigs ordered by Frigstad Deepwater in December 2012. The Frigstad Shekou is currently under construction and scheduled for delivery towards the end of the year. The contract which consists of a series of wells in deepwater is set to commence towards the end of Q1 2017 in the South China Sea for an entity of China National Petroleum Company as client.

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