Technology Exclusives

The company’s newly released 30-year energy outlook anticipates major gains in developing nations.

As hackers unleash clever cyberattacks, companies and individuals can work together to protect valuable data.

Construction of Blue Ocean Drilling’s jackup units is underway at China’s Shanghai Waigaoqiao Shipbuilding yard. (Source: Blue Ocean Drilling)

Blue Ocean Drilling is set to make its market splashdown in 2016 with new rigs and new approach.

The oil and gas industry wants more areas included in the proposed offshore lease program.

As the oil and gas industry works through tough times, focus on safety and compliance is fueling growth.

Technology Completion

A process called forward-osmosis is applied to clean water used in hydraulic fracturing.

Researchers estimate that for every gallon of water used to frac for natural gas, Texas saved 33 gallons of water by using that gas for electricity generation.

Technology Contracts

The contract is expected to run until the end of 2018, with a potential value of about $3.95 million.

The vessels are scheduled for completion and delivery in 2018 and 2019.

The agreement covers engineering and advisory services related to subsea production systems including wellheads, christmas trees and well intervention systems. 

BG Group has signed a global alliance with KBR enhancing the company’s capacity to deliver commercially attractive oil and gas projects around the world.

The contract is for a firm charter period of 15 years with five yearly extension options exercisable by the client. 

Technology Digital

Success calls for technology investment despite industrywide cutbacks and high costs, according to panelists.

Companies embrace prescriptive analytics to improve production.

Data-driven models can shed light on factors that influence operations.

The push to exploit big data and apply analytics comes as operators work to increase production.

Technology Equipment

The unit features flow rates of 30 bbl per minute and a configuration of proprietary pumps, valves and hosing, the release said.

The drillship, which can accommodate a 20,000-psi BOP system, has been designed in full compliance with the ABS Guide for the Classification of Drilling Systems.

The company began discussions earlier this year with some contractors to lower rig rates and other services, CFO Mario Beauregard said in a telephone interview. 

Following successful first oil in November 2014 and completion of the 72-hour continuous production test in early December 2014, PRN goes into effect retroactively to Nov. 28, 2014.

As part of the contract extension, Ocean Rig will adjust the existing day rate of the drillship contract in exchange for Eni agreeing to enter two new contracts for one or more of Ocean Rig’s available drillships in West Africa.

Technology Operations

The company will reduce expenditures by more than 30% to $11.5 billion this year on drilling projects from Colorado to Indonesia.

Shell, the first of the world’s largest oil companies to report earnings following the slump in crude to a five-year low, will defer or cancel about 40 projects worldwide, CEO Ben van Beurden said. Exploration will also be curtailed.

This joint technology-focused program is aimed challenges facing global oil and gas production, including flaring, CO2 and methane emissions, and water usage, while also optimizing business operations, Statoil said in a news release.

IAL is a developmental-stage company that specializes in the design, manufacturing and service of next-generation hydraulic pumping units.

Saudi Arabia won’t balance global crude markets by itself even as prices fall “too low for everybody” and threaten investment needed to satisfy long-term demand, the head of Saudi Arabian Oil Co. said.

Technology People

Thomas Rajan brings almost 30 years of business and finance experience to his role at Rex Energy.

Inge G. Thulin has been elected to Chevron’s board of directors effective Jan. 28, 2015.

Paul Davison had served as one of the company’s independent nonexecutive directors since May 2007. 

Gary Luquette has been appointed president and CEO of ​Frank’s International, succeeding D. Keith Mosing.

MDU Resources Group Inc. has announced that Pat O’Bryan will become CEO of its Fidelity Exploration & Production Co.

Technology Regulations

PASA is expecting to receive revised environmental management programs from Falcon and Bundu at the end of February.

The White House on Sunday said it would ask Congress to designate “core areas” of the 19.8 million-acre refuge as wilderness, including its 1.5 million-acre coastal plain that geologists believe lies atop a rich oil reserve.

The Kyzyloi contract area has been increased by 56% to 449 sq km (173 sq miles).

With production of 9.5 MMbbl/d and exports of 7 million, Saudi Arabia accounts for more than a 10th of global supply and a fifth of crude sold internationally.

A Labour Party amendment to the Infrastructure Bill working its way through Parliament will mean barring hydraulic fracking unless 13 gaps in regulation are filled, it said in a statement.