Technology World Wide Exclusives

Machine learning and AI are enabling the discovery of new solutions to help make the petroleum industry safer and more competitive.

With the rapid growth of produced water and infrastructure constraints operators have to find new ways to tackle it.

Greater adoption and effective use of enhanced digitalization in the rig inspection and audit market are delivering benefits and reducing risk.

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An automated bit guidance system delivers improvement in directional drilling performance.

Completion World Wide

New completion software provides operators with more valuable, faster business decisions in a digital world.

As digital innovations take hold, the oil and gas industry is undergoing an evolution of its workforce.

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.’

Understanding drainage volume and improved permeability of stimulated rock is essential to forecasting production, according to MicroSeismic Inc.

Change is inevitable, but good technology helps companies stay abreast of the turmoil and risk that go with today’s exploration and production environments.

Contracts World Wide

Sapura Energy Berhad on June 21 scored another nine new contracts valued at approximately RM1.8 billion.

The contracts cover integrated well services, such as directional drilling, drill bits, fluids and cementing, for an initial four years, and can be extended for up to 10 years.

Ophir Energy is replacing CEO Nicholas Cooper with immediate effect, the company announced on May 18, amid delays in funding a major gas project in Equatorial Guinea that have slashed its share value in the past year.

Ophir Plc has entered into a farm-out agreement with Kosmos Energy (NYSE: KOS) covering the EG-24 exploration license in Equatorial Guinea, the company said on May 14.

Saudi Aramco’s Nasser downplays emergence of alternative fuel vehicles.

Digital World Wide

Operating oil and gas sites at a distance is attractive for producers due to the potential safety and cost benefits.

Digital technology opens new possibilities that could transform the future of multiphase flow measurement applications.

The use of a QRA helps improve risk-related decision-making.

Continuous modeling software advances create new opportunities.

Digital twins help extend the life of producing assets.

Downhole World Wide

Technology manages solids production in artificial lift wells.

A new algorithm targets optimal gas injection rates.

A compact, powerful motor extends ESP applicability in marginal wells.

The combination of directional drilling and MWD technologies made horizontal drilling more manageable and wells more productive.

An enhanced slurry performance can lead to optimized services.

Equipment World Wide

Improvements began with building reliability and performance into pressure pumping systems.

A new sliding sleeve fracturing tool addresses limitations of single-point entry systems.

Advances in sliding sleeve technology drive efficiency and keep pace with growing completion program requirements.

Proserv has secured a contract worth over $5.5 million with Repsol to upgrade and build new subsea production control equipment for the Yme field redevelopment in the Norwegian North Sea.

Drilling efficiencies are maximized with integrated MPD systems.

Operations World Wide

Brent crude futures were up 19 cents at $72.47 barrel by 8:15 CST, after having lost more than 3% on Aug. 8. U.S. crude futures rose 6 cents to $67.00 a barrel, having closed down 3.2% the day before.

Oil rose on Aug. 6 after Saudi crude production unexpectedly fell in July and U.S. drilling appeared to slow, although the price is still almost 10% below its 2018 high of more than $80 a bbl.

The Houston-based company said net income attributable to common stock fell to $195 million, or 51 cents per share, for the quarter ended June 30, from $572 million, or $1.50 per share a year earlier, though the numbers were not immediately comparable.

A recent report suggested companies are shifting their focus to gas projects.

Anadarko Petroleum's revenue rose to $3.29 billion in the second quarter from $1.4 billion a year ago, topping analysts' consensus estimate of $3.07 billion according to Thomson Reuters I/B/E/S.

People World Wide

McDermott International, Inc. appointed Samik Mukherjee as the company’s executive vice president and COO, effective July 3.

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Frank’s International N.V. (NYSE:FI) and its Board of Supervisory Directors on June 13 announced several key senior management promotions, hires and related personnel changes.

Transocean Ltd. (NYSE: RIG) announced on June 4 that John Stobart, executive vice president, COO and chief performance officer is retiring.

Check out the latest new hires, promotions and other company news.

Regulations World Wide

China included LNG for the first time in its list of proposed tariffs on Aug. 3, the same day that its biggest U.S. crude oil buyer, Sinopec, suspended U.S. crude oil imports due to the dispute

Oil traded near its highest in 3.5 years on July5, boosted by potential disruptions to flows from Iran and the Middle East despite a fresh demand from U.S. President Donald Trump that OPEC cut prices.

Brazil's state-controlled oil company Petrobras has been fined $622 million by an international tribunal for breaching a 2009 contract with a unit of Vantage Drilling.

While U.S. crude will continue flowing to market even with tariffs, "it'll force you to put your oil somewhere else, and it'll cost you more," says Ron Gasser, vice president of Mammoth Exploration.

China has responded to $50 billion in tariffs imposed by U.S. President Donald Trump with additional tariffs on U.S. energy products, which analysts considered a surprise.