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ADNOC Onshore awards over £40 million contract to Wood category
Nov. 13, 2018
Source: Energy Voice

ADNOC Onshore awards over £40 million contract to Wood

Aberdeen-based Wood has been awarded three new contracts by ADNOC Onshore, subsidiary of Abu Dhabi National Oil Company. The energy services giant signed the contracts for more than £40 million. Under the scope of these contracts, Wood will provide project management consultancy (PMC) services at Adnoc’s onshore fields. The term of the contracts is five years, with an option of one-year extension.

Government gives clearance to ONGC's proposal category
Sept. 24, 2018

Government gives clearance to ONGC's proposal

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.

RIL shuts its only oilfield in KG-D6 category
Sept. 22, 2018

RIL shuts its only oilfield in KG-D6

In a regulatory filing, RIL yesterday informed that the firm has shut down its only oilfield in KG-D6 block, due to null production. The D26 or MA oilfield began production in September 2008. RIL was operating the oilfield in a joint venture with BP and NIKO. In the first quarter of FY19, MA field’s contribution was less than 0.1% in terms of revenue at RIL consolidated level.

Skill shortage in the North Sea category
Sept. 21, 2018
Source: Energy Voice

Skill shortage in the North Sea

Recruitment specialist, Prodrill Energy Resource Solutions (PERS) has cautioned a massive skill shortage in the North Sea. MD of the firm noted that there is a risk of skill shortage in the industry with more mature workers leaving the industry. PERS observed an increased requirement of onshore and offshore-related roles in exploration, apart from engineers who could plug and abandon wells.

Mexico formulates bid terms for block auction category
June 21, 2018
Source: Reuters

Mexico formulates bid terms for block auction

Mexico’s oil regulator, National Hydrocarbons Commission, on Tuesday declared the main bid variables for the auction of 37 onshore blocks scheduled in September. The regulator also released the bid terms for the seven joint ventures on offer with the national oil company, Pemex to be hosted in October. The new bid variables shed the past practice of setting maximum and minimum values for the additional royalty.

Drilling begins of first of four exploration well onshore Argentina by Echo Energy category
May 12, 2018

Drilling begins of first of four exploration well onshore Argentina by Echo Energy

Drilling of first exploration well in a four-well campaign in the Echo Energy plc’s Fracción C asset, onshore Argentina has commenced. The Company will update shareholders with progress on both the exploration drilling program and extended testing as the program advances.

Superkrane is now sole agent to deliver Sparrows equipment in Indonesia category
May 10, 2018

Superkrane is now sole agent to deliver Sparrows equipment in Indonesia

Superkrane becomes the sole and authorised agent possessing the rights to supply Sparrows original heavy lifting equipment in Indonesia as appointed by The Sparrow Group. This agreement brings together both offshore and onshore crane and lifting equipment specialists to provide a broad range of equipment and services to the energy and industrial industries.

Bakken wells turning into ‘cash cows’ category
May 8, 2018
Source: World Oil

Bakken wells turning into ‘cash cows’

The wells in North Dakota are bringing about huge profits with oil prices near $70/bbl and development in drilling technology. According to a Bloomberg New Energy Finance Report, the cost of getting oil and gas to the surface in North Dakota’s Bakken field has fallen, recently hitting $41 to $50/bbl. Technologies like fracking and horizontal wells are helping average wells in Bakken become economical.

USD 7bn profit potential for unconventional oil and gas operators: Emerson study category
May 7, 2018

USD 7bn profit potential for unconventional oil and gas operators: Emerson study

A recent study by Emerson reveals that unconventional oil and gas operators can greatly enhance their performance with profits up to $7 billion by adopting advanced automation technologies. Digital transformation and Industrial Internet of Things (IIoT) is shaping future operational excellence. Profitability can improve by as much as 10% with a comprehensive improvement program.

Safety Advances in Offshore Industry Grow from Tragedy category
May 4, 2018

Safety Advances in Offshore Industry Grow from Tragedy

According to the Centers for Disease Control and Prevention, the drilling industry-onshore and offshore-has a fatality rate seven times higher than for all U.S. workers. The energy industry has made great strides but at the cost of hundreds of lives and a huge amount of money. With great advances, technology must be exploited better to enhance safety.

Total acquired Maersk Oil and becomes second-largest operator in North Sea category
March 9, 2018
Source: World Oil

Total acquired Maersk Oil and becomes second-largest operator in North Sea

French’s Total has announced the closing of Maersk Oil acquisition and has ramped up to about 160,000 boed in 2018. With this, it has sustained its existing leading position in the U.K. and has managed to enter Denmark subsequently making it the second-largest operator in the North Sea. Patrick Pouyanné, Chairman and CEO of Total has expressed it as a “success on many levels.”

OVL and OIL acquires stake in Mozambique category
March 6, 2018
Source: Economic Times

OVL and OIL acquires stake in Mozambique

Government of Mozambique has approved ONGC Videsh (16% stake) and Oil India (4% stake) for the development work of Golfinho-Atum natural gas field. The plan consists of two-train onshore liquefaction plant with total processing capacity of 12.88 million metric tonnes per annum.

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