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Since 2003, OHH has given $5.9 million to more than 1,000 oil and gas industry workers and their families. What began as a small fundraising effort for a family facing unforeseen medical expenses, has grown into a national organization.
Schlumberger NV on Friday raised its annual revenue forecast after beating analysts' second-quarter earnings expectations, buoyed by higher demand for its oilfield services and equipment. The company has benefited from a boost in activity driven by stronger oil and gas prices. Global crude prices hovered above $100 per barrel last quarter, fueled by tight supplies following Western sanctions on Russia, a major producer, and as energy consumption returned to near pre-pandemic levels.
To provide better efficiency and productivity to the oil and gas industry, the Oil & Gas Innovation Centre will support digitalization based 3 new projects. For oilfield digitization, 3 companies have collaborated with RGU School of Computing Science and Digital Media to carry out research work. CEO of OGIC said that these projects will “reduce costs and increase efficiency and, ultimately, production in a less labor-intensive way.”
Equinor’s Aasta Hansteen gas field might experience the fastest gas start-up process ever, in the later part of this year. ABB is finalising a suite of pioneering ABB Ability digital technologies for Aasta Hansteen. ABB was required to reduce over 1,000 manual interventions sequence to as few as possible. ABB believes that the developed technology will enable the world’s fastest start-up at first gas.
The Offshore Northern Seas (ONS) conference & exhibition saw the unveiling of a new Gyro-surveying service by Schlumberger. The Houston-based oilfield services giant presented the MEMS gyro-while-drilling service that responds to the needs of E&P companies. While the GyroSphere sensor outperforms the conventional systems, avoiding recalibration between runs, the solid-state technology enables it to withstand the downhole shock and vibration.
Norwegian energy giant, Equinor awarded a 3-year extension to BHGE for the subsea services frame agreement on the Norwegian Continental Shelf. BHGE and Equinor have a 40-year old collaboration history, and the contract extension is a manifestation of the trust between the firms. BHGE will keep providing the support for several installations including Troll, Snorre B and Tordis/Vigdis. BHGE will provide services support locally from its Stavanger facility.
Sweden’s Trelleborg Sealing Solutions is gifting oil and gas industry a new solution, the Turcon Roto Glyd Ring DXL. It is a polytetrafluoroethylene (PTFE) based O-Ring designed specifically to meet the high pressure rotary applications of the industry. The ring can handle pressure up to 70 MPa and speeds up to 5 m/s /16.4 ft/s. Turcon Roto Glyd Ring DXL will have improved efficiency and friction at all service conditions.
Vedanta’s Cairn Oil and Gas has awarded the oilfield development contract for Mangala, Bhagyam and Aishwarya (MBA) fields to leading oilfield services provider, BHGE. The service provider will support Cairn with advanced technology solutions to deliver an integrated scope of oilfield services and equipment. The scope of the contract also involves the construction of 300 new wells and deployment of a chemical EOR programme.
Wintershall, the German oil major, and its partners have submitted the Plan for Development and Operation (POD) for Nova field in the Norwegian North Sea, to the Norwegian petroleum ministry. This latest development follows the success of Wintershall’s Maria field and acknowledges Wintershall’s expertise in subsea technology. Nova will be developed with smart engineering and environment friendly methods.
Tim Dove, who leads Pioneer Natural Resources, has termed the new wells in the Permian basin as “3.0 plus” models owing to their high productivity, pumping 35% more oil than their predecessors. Technology has played an instrumental role in Permian’s stellar performance, strengthening US’s energy independence and further indicates that the biggest oilfield may give more.