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Oilfield services giant, Halliburton has established Motors Center of Excellence which will work towards customizing motor designs for specific basin challenges. The center leverages mechanical engineering expertise to deliver highly durable motors that drill quicker and enables longer runs with a higher rate of penetration. Halliburton is looking forward to escalating research and development activities for delivering prominent drilling motors to the industry.
India's ONGC will drill 406 wells in its Mehsana asset in Gujarat whose cost will be Rs 2,403 crore. The firm has applied for Environmental Clearance (EC) for the same. In its EC application, the company has mentioned that “The proposed project will be covering an ML area of 1114 square km wherein 406 wells are proposed to be drilled for development".
Rowan Companies has secured a seven-well program for its N-class jack-up rig, Rowan Viking from Lundin Norway AS. The ultra-harsh environment rig will be deployed in Norway for a minimum duration of 265 days. Work under the contract is likely to begin in second-quarter/third-quarter 2020. The contract also has four additional one-well priced options.
Australian oil and gas giant, Santos has informed about producing first oil from the Van Gogh infill project, offshore Western Australia. The project, which commenced in September of 2018, involved drilling of two subsea wells and their completion. The wells were, then, connected into existing offshore infrastructure. Santos holds 52.5% stakes and the operatorship of the Van Gogh-Coniston-Novara project.
The Indian state of Assam will see major investment from E&P major, ONGC for pursuing drilling activities in the region. S K Moitra, Director (Onshore), ONGC informed that the firm has decided to drill 200 developmental wells across fields under its Assam Asset. The project will continue over the next seven years, and will cost the state-owned firm approximately Rs.6000 crores.
Italian oil major, Eni has reached an agreement with Caelus Natural Resources Alaska LLC to acquire 70% stakes in Alaska’s Oooguruk oil field. Eni already has 30% stakes in the field, and will now gain complete ownership and operatorship of the field. With the acquisition of Oooguruk, Eni’s production from Alaska will be boosted by approximately 7,000 bopd gross.
Supermajor Total has informed about initiating production from the Egina field, offshore Nigeria. Egina field is estimated to produce 200,000 bopd. The field is being developed using Total’s largest ever Floating Production Storage and Offloading (FPSO) unit. A 30% reduction in the drilling time per well has allowed Total to achieve the startup approximately 10% less than the initial budget.
Transocean has entered into an agreement with supermajor, Chevron for $830m, to provide drilling services through an ultra-deepwater drillship, in the Gulf of Mexico. The under-construction ultra-deepwater drillship is expected to start operations in 2021. A press release from Transocean detailed the features of the drillship such as dual 20,000 psi blowout preventers, net hook-load capacity of three million pounds, among other specifications.
Leading oil services firm, Halliburton has secured a well drilling contract from an Eni-led consortium in Iraq. Over the next two years, the Houston-based firm will utilize up to six rigs to drill development wells in the Zubair Oil Field in Iraq. Italian oil major, Eni leads a consortium of Oxydental, Kogas and Missan on the Zubair field, which has over more than four billion barrels of reserves.
Eni has received an approval from Indonesia’s Minister of Energy for the Merakes development project. The project is in the Kutei Basin and will involve the drilling and construction of subsea wells. Eni’s Board of Directors have also given a go-ahead to investment plan for the Merakes project. The CEO commented that “the Merakes Development Project approval is an important step for our strategy in South East Asia”
Houston-based AFGlobal Corporation has launched its proprietary Performance Drilling platform. AFGlobal’s platform is a unique amalgamation of equipment and software, which allows it to effortlessly support rig operations. The toolkit empowers drilling contractors to efficiently and safely enhance performance through industry-proven solutions. The Performance Drilling platform is intended for the onshore and shallow water drilling markets.
Italian oil major, Eni reported oil discovery in the Afoxé exploration prospect, offshore Angola. The new discovery is projected to possess around 170 MMbbl to 200 MMbbl of light oil. The Afoxé-1 NFW well was drilled in a water depth of 780 metres, reaching a total depth of 1,723 metres. Intensive data collection from the well is indicating a production capacity of more than 5,000 bpd of oil.
Mexico-based Sierra Oil & Gas has inked an agreement with German E&P firm, Deutsche Erdoel AG (DEA AG) to integrate its business with DEA AG’s wholly-owned subsidiary, Deutsche Erdoel México. The integration will expand DEA AG’s portfolio in Mexico to ten exploration blocks and one onshore production block. The transaction is estimated to be completed during the first half of 2019.
Oilfield services giant, Halliburton has released a new in-bit sensor package, Cerebro. The technology allows access to performance data directly from the drill bit. It then analyzes the data to optimize cutter engagement, reduces ambiguity and increases drilling efficiency. In a performance test, the sensor package obtained information, allowing the operator to employ a more aggressive cutting structure. This resulted in an increased drilling efficiency and reduced well time.
Oilfield services giant, BHGE has acquired 5% stake in Abu Dhabi’s state-owned, ADNOC Drilling. This is the first time an international partner has taken a direct equity stake in an existing ADNOC services business. BHGE will provide ADNOC Drilling with specialized equipment and technologies. ADNOC Drilling, which is the Middle East’s largest drilling company, supplies oil rigs to other ADNOC businesses.
British offshore drilling services provider, Ensco Plc has entered into an acquisition agreement to buy Rowan Companies. The deal is estimated to be worth £1.7 billion. The acquisition is said to create an “industry-leading” drilling firm with a fleet of 82 rigs covering six continents. The merged entity will be valued around £9.2 billion. The merger is expected to conclude by the first half of next year.
Stress Engineering Services (SES) has provided a state-of-the-art real-time drilling riser and wellhead monitoring system (RFMS), in addition to its Condition Based Maintenance (CBM) process to Noble Corporation. The RFMS provides dynamic subsea measurements with high reliability for the drilling riser and wellhead systems. The CBM process supports structural integrity evaluation and maintenance assessments of drilling risers. The technologies will be used on the ultra-deepwater drillship Noble Tom Madden.
After reporting heavy losses in the end of year 2017, offshore drilling company, Seadrill has now disclosed firm recovery in the first six months of 2018. The company went through the losses mainly because of the dip in offshore drilling market and ageing assets. Seadrill in a statement said that the company has recognized impaired assets of $414 million and is working towards the same.