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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.
Europe’s leading E&P Company, Lundin Petroleum has informed about the completion of Alta appraisal well 7220/11-5’s extended production testing. The testing and drilling part was performed by Leiv Eiriksson drilling rig. The flowing rate of first period was 4,500 bps and that of second period was 18,000 bpd. The total outcome was of 675,000 barrels. The main aim of this project was to establish sustainable production rates.
The increasing drilling activities need operators to be accurate and efficient in one run. Halliburton has made the task easy for the operators by releasing the iCruise Intelligent Rotary Steerable System (RSS). This revolutionary technology will provide accurate steering, longer laterals and quicker drilling facilities. V.P of Sperry Drilling expressed said that RSS has advance sensors and electronics including high speed processors that can give accurate end results.
During the drilling process of a long horizontal well that has multi-stage completions, various challenges are being faced due to restricted centralization and casing movement. At SPE ATCE, Schlumberger launched the CemFIT Shield mud-sealing cement system to counter this problem. The CemFIT Shield will be the first in line of technologies dedicated to improving zonal isolation, especially between hydraulic fracturing stages in long horizontal wells.
E&P major, ONGC received approval from the Government of India to proceed with Additional Development Drilling of 72 wells in the Krishna-Godavari basin. The Expert Appraisal Committee (EAC) under the Ministry of Environment, Forest and Climate Change, gave a nod to ONGCs proposal for the project. An investment of ₹792 crore has been outlaid by the PSU for the project. EAC has laid down several conditions for granting the clearance.