Statoil lowered development costs for the start-up at its giant Johan Sverdrup oil field by $2.9 billion and raised the estimated initial output by 16% after intensifying drilling and streamlining operations.
GustoMSC has launched a new harsh environment semisubmersible series—the OCEAN-HE.
When the OPEC nations last met with Russia to agree an output freeze, back in April, it was Saudi Arabia that shot down the deal -- refusing to take part without Iran.
With a total depth of 5,941 m, Mærsk Gallant has beaten the record for deepest well ever drilled on the Norwegian continental shelf.
China’s biggest oil company wants natural gas to account for half its output by the end of the decade.
Multi-billion-dollar oil and gas deals are back on the table. More than $11 billion of transactions were announced globally in July as crude’s recovery fueled hopes of a steadier market, Wood Mackenzie said.
Only the core survives mounting ROR pressure
As the shock of upstream downsizing abates, in reaction to an historically low drilling year, producers and service companies focus on improving efficiencies to lower break-even costs and regain profitability.
The use of solid expandable liners is increasing; however, the perception remains that they are viable in limited applications. Yet, changes to the expandable connection and expansion assembly have enabled a liner to be rotated, to reduce the risk of stuck pipe when running tubulars in a directional wellbore.
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Paved with best intentions
Eagle Ford shale is metaphor for the industry
Data courtesy of Baker Hughes.
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