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Wood Mackenzie: Operators taking a deliberate approach to offshore exploration and development

If the number of final investment decisions (FIDs) taken by operators is an indication of the health of the offshore market, then things are looking up. Wood Mackenzie anticipates that roughly 30 offshore projects will receive an FID in the coming year. This is roughly flat from 2017, when 32 projects were sanctioned, and a significant increase from 2016, when fewer than 15 projects received FIDs. The newly sanction projects this year are likely to be developed more quickly and at lower costs than pre-downturn projects, Julie Wilson, Research Director, Global Exploration at Wood Mackenzie, said at the 2018 OTC in Houston on 30 April...

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Wood and IBM collaborate to transform asset life cycle management

Wood and IBM have announced they have entered into an agreement to conceive and offer compelling new digital products and services that will advance operational efficiencies for customers in industrial and energy markets. This multi-year agreement combines Wood’s engineering innovation and industry expertise with IBM’s advanced market leading technologies in areas such as artificial intelligence (AI), blockchain and analytics...

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ABB to provide digital automation and safety for new Statoil offshore project

ABB announced that it will provide integrated ABB Ability automation and safety systems to Statoil’s new Johan Castberg oilfield development project in Norway. ABB’s solutions and services will help to reduce the CAPEX for the project significantly. Integrated control, safety and communication will be key to the successful operation of this new field...

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Halliburton introduces InnerVue non-intrusive pipeline and wellbore diagnostics

Halliburton introduced InnerVue non-intrusive pipeline and wellbore diagnostics, a technology that quickly and accurately detects blockages or leaks and profiles deposits in pipelines and wellbores. Without the need for intrusive intervention, InnerVue diagnostics interprets pressure waves reflecting from internal features of the pipeline or wellbore and extrapolates the pressure reflections into deposit profiles or blockage and leak locations...

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