When OPEC and Russia meet this weekend to gauge progress on their oil-supply deal, they’ll be trying to dispel the shadow of previous unfulfilled promises.
Cnooc Ltd. plans to raise capital spending for the first time since crude began its crash in 2014 as China’s biggest offshore oil and gas producer prepares for life after the slump and a second year of falling output.
OneSubsea, a Schlumberger company, announced it has been awarded an engineering, procurement and construction contract by Statoil to supply the subsea production system for the Utgard gas and condensate discovery in the North Sea.
Oil-price gains will trigger a “significant” increase in U.S. shale output as OPEC and other producers rein in supply, according to the head of the International Energy Agency.
Searcher Seismic, in conjunction with project partner CGG, has commenced the PSDM reprocessing of ~1,668 km2 of 3D seismic data in the Carnarvon basin, Western Australia.
Aker ASA, the investment company controlled by Norwegian billionaire Kjell Inge Rokke, is considering a sale of offshore-engineering business Aker Solutions, according to people familiar with the matter.
Eastern Mediterranean region strives to weather low oil price storm
Using improved methods and the latest composite frac plug technology, operators can reduce running time, enhance reliability, and achieve efficient drill-outs without short trips.
Hurricane force winds led to a multi-well fire on a 30-well production platform. In spite of continuing adverse conditions, well control specialists were able to safely extinguish the blaze in 64 days, 25 of which were non-productive due to the weather.
Increasingly complex well geometrics and extended well depths present a growing challenge for conveyance. Deep and highly deviated wells that were not previously wireline accessible, especially benefit from using an integrated wireline conveyance system.
From tracking cash to kicks
Data courtesy of Baker Hughes.
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