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2018

Asia Pacific: Utilization on the rise but dayrates still refuse to budge

In the Asia Pacific drilling market, rig dayrates are still down near OPEX levels. Demand for rigs, while improving, can’t exactly be described as high either. And yet, looking to the next couple of years, there is a growing sense of optimism among drilling contractors here. “I believe 2018 is going to be a very busy year,” said Izwan Megat, Head of Operations at Malaysia-based UMW Oil & Gas, which owns and operates seven jackups. “2017 was about ‘can you survive this?’ and in 2018 it’s more about, ‘we survived, and we’re going out to work, but how can we make healthy returns for the company?’”...

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PV Drilling jackups likely to stay busy through 2018 as demand rises in Vietnam, Southeast Asia

The number of E&P wells drilled in Vietnam has fallen drastically since 2014. Particularly in 2016 and 2017, almost 60% of E&P activities in Vietnam were trimmed off. Not surprisingly, this reduction in activity also drastically curtailed the amount of work available to PetroVietnam Drilling & Well Service Corp (PV Drilling), which has a fleet of four jackups, one semisubmersible tender-assist and one land rig...

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Moving from surface readouts to real-time data reduces guesswork to improve intervention efficiencies

As oilfield sensors and digital technologies grow more sophisticated, the industry is increasingly relying on real-time data to optimize the well intervention process. In today’s intervention operations, downhole data can make the difference between success and failure – and we know that operators can’t afford failures in this low-price environment...

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MPD vs underbalanced drilling: 10 ways they differ in operational strategy and implementation

The petroleum drilling industry drills many well sections using some type of unconventional drilling technique (UDT). A drilling operation is a UDT if it does not follow the conventional drilling method as done in the majority of cases. Conventional drilling utilizes a single-phase drilling fluid, which works on the premise of keeping an overbalanced pressure at the sand face. It discourages influx from a reservoir while drilling or when drilling stops for any other operation. Conventional drilling is also an open-loop operation, where the returned fluid from the well is directed to a flowline that is open to atmosphere...

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Drilling & Completion Tech Digest

GE and Noble Corp have launched the world’s first digital drilling vessel, targeted to achieve 20% operational expenditure reduction across the targeted equipment and improve drilling efficiency. The project aims to unlock the potential of digital solutions for offshore drilling operations...

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Perspectives: Izwan Megat, UMW Oil and Gas: Engaging with people at the rig site is critical for safety because ‘safety is managing people’

Although Izwan Megat had always liked working with his hands and even earned his bachelor’s degree in mechanical engineering from the University of Tulsa in 1999, it wasn’t until he landed his first job that he learned what mechanical engineering was truly about. “I went to the drafting room at this small manufacturing company in Pryor, Okla., and started making all these sketch drawings of bandsaws, which is what this company produced. But once I was done, the president of company told me to take those drawings and go build them,” Mr Megat recalled...

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Drill bit innovations target major barriers to ROP, durability

Although a drill bit is but one component of a large and complex drilling system, it can have an outsized impact on the efficiency of a drilling operation. “While the amount of money spent on drill bits may be less than 1% of the total cost of the well, it can really be argued that no single component contributes more to the overall drilling performance,” said Wiley Long, Bits and Drilling Tools Product Champion at Smith Bits, a Schlumberger company...

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Digital solutions guide path to better accuracy in directional drilling

The global directional drilling services market has taken a big hit during this downturn. In terms of market value, directional drilling fell from $16.55 billion in 2014 to $10.95 billion in 2015, then shrank further in 2016 to just $6.71 billion. Most of these reductions were brought about by project cancellations in the low oil price environment, according to Rajashekar Lokam, Research Analyst at Mordor Intelligence...

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