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July/August

Drilling & Completion News

Total to end participation in South Pars 11 in Iran Total has announced that it will not be in a position to continue the South Pars 11 (SP11) project in Iran as a consequence of the United States’ decision to withdraw from the Joint Comprehensive Plan of Action (JCPOA) and reinstate the US sanctions that were in force before the JCPOA’s implementation. The company will unwind all related operations before 4 November 2018, unless Total is granted a specific project waiver by US authorities with support of the French and European authorities. In 2017, Total executed the contract related to SP11, together with partner PetroChina and in full compliance with UN resolutions and US, EU and French legislation acceptable at ...

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People, Companies & Products

Transocean announces retirement of John Stobart Transocean announced that John Stobart, Executive Vice President, Chief Operating Officer and Chief Performance Officer, is retiring. Keelan Adamson, the company’s Senior Vice President of Operations, assumed Mr Stobart’s responsibilities, effective 1 June. “Under John’s leadership, Transocean re-established itself as the standard for excellence, delivering industry-leading performance in safety, uptime and drilling efficiency,” Jeremy Thigpen, President and Chief Executive Officer, said. “As a direct result of John’s unwavering commitment to both operational performance and procedural discipline, and to the development of the next generation of leadership, I have every confidence that Transocean will continue to build upon the solid foundation that John helped to establish.” Maersk Drilling appoints Morten Kelstrup as new CCIO Effective ...

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Drilling in the digital age: A new world begins to take shape

In a digital world, it’s software, not big iron, that’s driving hefty changes in well planning and construction, workflows, training, security By Kelli Ainsworth Robinson, Associate Editor In 1965, Gordon Moore, one of the co-founders of Intel, predicted that the number of transistors on an integrated circuit would double every two years. In other words, he believed that computing power would double every two years. According to a study released in 2015 by information technology group Experts Exchange in honor of the 50th anniversary of Mr Moore’s prediction – now known as Moore’s Law –  computing power actually increased a trillion-fold between 1965 and 2015. That means that the smartphones we can fit in our hands today are more powerful ...

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Adoption of data infrastructure, data-centric disciplines empowers OEM in digital transformation

Digital journey focuses on developing applications that drive tangible impacts on financial performance By Gilbert Chahine, National Oilwell Varco The performance of original equipment manufacturers (OEMs), service companies, drilling contractors and operators alike will be bolstered through adoption of digitization and data-driven technologies, provided that adoption focuses more on the financial outcome rather than the technological outcome. Such adoption, in fact, is rapidly accelerating, with a large pool of open-source technologies and service providers readily accessible to those looking to make a change. “Digital” must not be a buzzword, though, but rather a meaningful way of impacting cost structures and using data to improve bottom-line – and potentially top-line – financial performance. What is digital and why now? National Oilwell ...

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Deputy Mining and Energy Minister: Open dialogue inspiring confidence in regulatory framework, taking Brazil from promise to reality

Marcio Felix: Reforms, government’s engagement with stakeholders have increased trust in Brazil, although transfer of rights issue still requires resolution By Linda Hsieh, Managing Editor Brazil’s fourth production-sharing round in the pre-salt, held by the National Agency of Petroleum, Natural Gas and Biofuels (ANP) on 7 June in Rio de Janeiro, raised R$3.15 billion in signing bonuses and R$738 million in planned investments during the exploration phase. The auction drew record interest from the industry. Sixteen oil and gas companies – including supermajors like BP, Chevron and ExxonMobil – took part in the auction. Judging by the success of this licensing round, it appears that the Brazilian government’s work over the past couple of years is finally paying off. Significant ...

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