Technology Europe Exclusives

BP’s upstream chief emphasizes how a new age of collaboration within the supply chain could help the industry thrive amid the challenges of low oil prices.

Vidar Gunnerud, Solution Seeker, production optimization, artificial intelligence in oil and gas

Solution Seeker CEO Vidar Gunnerud talks about the company’s technology and the importance of artificial intelligence to the oil and gas sector.

robotics, oil and gas robotics, AUVs, ROVs, offshore oil and gas, subsea robotics

The oil and gas industry has been looking toward robotics and automation to improve operational efficiency and safety but still lags behind other sectors in implementation.

Maersk Oil, Total, North Sea, acquisition, oil and gas

The acquisition is expected to increase Total’s output to 3 MMboe/d by 2019.

Conference and exhibition boasts thousands of new upstream technologies.

Completion Europe

Schlumberger, Paal Kibsgaard, oil, drilling, technology, hydraulic fracturing, investment

The company plans to produce a new hydraulic fracturing system and a ‘land drilling system of the future.’

Contracts Europe

Statoil (NYSE: STO) and Accenture (NYSE: ACN) have signed a three-year master service agreement for Accenture to accelerate the delivery of Statoil’s global digitalization initiative.

Sound Energy said on Jan. 22 it has entered into a binding conditional sale and purchase agreement with Saffron Energy Plc where Saffron will acquire Sound Energy’s portfolio of Italian interests and permits.

KBR Inc. (NYSE: KBR) said on Jan. 16 that its joint venture (JV) with SOCAR has been awarded two separate front-end engineering design (FEED) contracts for a new production, drilling, quarters platform.

BMT Group Ltd. and Metocean Services International (MSI) have been jointly awarded a contract by Gastrade, the companies said on Jan. 9.

Saipem signed a contract with Eni (NYSE: E) in relation to the West Hub development project in Angola, the company said on Dec. 22.

Downhole Europe

GCDT fits fully into Prysmian’s expansion strategy in subsea umbilicals, risers and flowlines and complements its product range. The portfolio of protectors will be enhanced, the company added.

Advances in subsea processing systems are moving the technology toward the point where a ‘subsea factory’ on the seabed by 2020 is nearing reality.

Equipment Europe

Pipeline operator says there is no timeline yet for repair of the Forties system, now under force majeure.

Transocean Ltd. plans to retire six of its cold-stacked rigs in an environmentally responsible manner.

Subsea 7 S.A. has signed a letter of intent with Royal IHC in the Netherlands for the construction of a new reel-lay vessel and associated pipe lay equipment.

The deal, which would be mostly paid for in shares and convertible bonds, would strengthen Transocean's position in offshore drilling as Songa is Statoil's largest drilling service provider.

The world’s biggest oilfield service provider Schlumberger took a 20% stake via a private placement in the company managed by former Seadrill executives in March.

Operations Europe

Ineos said in a note to customers on Feb. 7 that the latest shutdown was caused by an unexpected closure of the feed control valves on the pipeline supplying the Kinneil gas processing plant.

Statoil said it would increase its capex this year to $11 billion from $9.4 billion last year and lift exploration spending to $1.5 billion from the $1.3 billion it had planned to spend in 2017.

Poland, Ukraine, Baltic states also fear that Europe’s dependence on Russian natural gas would increase.

Britain is tightening controls on firms hoping to carry out hydraulic fracking in parts of the country by adding a financial health check to the application process, the government said on Jan. 25.

Seadrill’s main owner, Norwegian-born billionaire John Fredriksen, backed by Centerbridge Partners, and a group of unsecured bondholders have submitted alternative restructuring plans, and started talks earlier in January.

People Europe

Julie J. Robertson has been elected by the Noble Corp. board of directors to succeed David W. Williams as chairman, president and CEO.

Christina Verchere will replace Mariana Gheorghe, who will leave after 12 years at OMV Petrom and before her contract was due to end in April next year.

In late 2017, oil firms presented new field development plans that will trigger billions of dollars of investment, and more plans are on the way in 2018.

DEA Deutsche Erdoel AG has named Maria Moraeus Hanssen as its CEO and chair of the board of management.

DeepOcean’s board of directors appointed COO Ottar Mæland as acting CEO of DeepOcean.

Regulations Europe

Drilling rig company Seadrill said in a court filing it postponed an initial hearing on its restructuring plan to Feb. 26, buying more time to consider alternative plans.

Britain’s decision to leave the European Union could lead to higher energy prices and energy supply shortages if the exit is not managed properly, a report by an upper-house parliamentary committee report said on Jan. 29.

An earthquake Jan. 8 prompted operator NAM to propose halting production at six points at Groningen and lowering its overall production.

Ineos said Scotland's decision to outlaw fracking in October flew in the face of other expert reports which concluded that shale gas could be produced safely and has applied for a judicial review.

Britain plans to introduce tax changes to oil and gas companies operating in the North Sea, finance minister Philip Hammond said, in a bid to spur investment in the aging basin.