Aker Kvaerner's focus on technology has been duly recognized by the 2007 Offshore Technology Conference (OTC). Aker Kvaerner's PowerTracCone Crusher and Aker Kvaerner's SeaBooster technologies have both won 2007 OTC Spotlight on New Technology Awards. The PowerTrac Cone Crusher(TM) (full press release attached) provides a new solution for cost efficient, safe and environmentally sound removal of scale from well completions. Aker Kvaerner's SeaBooster(TM) (full press release attached) increases production rate of oil wells requiring local pressure support by injecting sea water. The OTC Spotlight on New Technology Awards showcases advanced technologies for the offshore oil and gas industry. Companies exhibiting at this year's OTC submitted entries detailing why their innovative technology should be in the spotlight at OTC.
Energy services firm Hunting posted pretax profit broadly flat on the previous year, but just short of analyst expectations, as a lack of drilling in the North Sea and Canada hit demand for equipment and services. The company, which provides equipment and services for drilling and completing oil wells, reported underlying profit before tax of $196 million on revenue of $1.3 billion, with demand in the Gulf of Mexico and Asia helping offset weakness in Europe and Canada.
World drilling activity for oil and gas fell 24 percent in 1999 from 1998, but levels should bounce back in 2000, IHS Energy Group said. "In 2000, I expect levels to reach at least those of 1998," said Ian Cross, Asia director for IHS, who produced an IHS report on world drilling activity in 1999. "Some areas in 2000 will be slow to catch up. I think the Far East will be one of them. There is less money going into this region," he said.
Yesterday Secretary of the Interior Ken Salazar and Bureau of Ocean Energy Management, Regulation and Enforcement Director Michael R. Bromwich announced a mandate – effective October 15, 2010 – that oil and gas companies operating in the Gulf of Mexico will be required to set permanent plugs in nearly 3,500 nonproducing wells that are currently completed with a subsurface safety valve in place and dismantle about 650 oil and gas production platforms if they are no longer being used
In recognition of the breakthrough new enhanced oil recovery – or EOR – technology, BP has been presented with the Distinguished Achievement Award. The award was presented on 4 May, 2014 at the Offshore Technology Conference (OTC) in Houston, Texas. This is the second time in four years that BP has won the award at this major annual gathering for oil and gas professionals. BP's plans to use the new enhanced oil recovery – or EOR – technology from day one of
Sound Oil, the European / Mediterranean focused upstream oil and gas company, achieved a significant upgrade in the recoverable volume of the Santa Maria Goretti ("SMG") gas prospect, onshore Italy. The onshore SMG Permit sits in the Marche Region in Central Eastern Italy, covers an area of 101km2 and is owned 100% by Sound Oil. The SMG Permit area contains the southern extension of two significant producing gas fields, from 4 wells
U.K. offshore oil and gas appraisal and exploration drilling so far this year is only 39 percent of 1998 levels with no significant new drilling activity reported in the week ending Sept. 29, consultants Arthur Andersen said. They said in their weekly Well Report that only two new exploration wells were spudded in northwest Europe during the week in review. "This has created little change in the difference between drilling activity in 1998 and 1999
According to a Nov. 25 report from Business Standard, the current global credit crisis and an over 63 percent fall in crude oil prices in the last four months have resulted in oil companies drilling fewer wells in offshore areas. This has increased the availability of rigs across the world and helped bring down rig rentals by up to 10 percent in the recent past. The rig rates have corrected primarily in the shallow water fields where there have been traditionally more rigs available.
Obama Administration Announces New Partnership on Unconventional Natural Gas and Oil Research. Today, three federal agencies announced a formal partnership to coordinate and align all research associated with development of our nation’s abundant unconventional natural gas and oil resources. The partnership exemplifies the cross-government coordination required under President Obama’s executive order released earlier today
Consolidated Oil and Gas Petrobras in Brazil and abroad, production amounted to 2 million 795 thousand barrels of oil equivalent per day (boe) in October. This volume was 0.5% higher than in September, which was 2 million 781 thousand boe. Oil production in Brazil grew by 0.4% compared to September, and reaches a new high. Oil production from Petrobras in Brazil reached in October average of 2 million 126 thousand barrels / day (bpd), 0
Libya's Tripoli-based state firm National Oil Corp (NOC) will remain independent, it said on Thursday, in an apparent attempt to reassure foreign oil buyers it will stay out of the country's conflict. Libya has two governments vying for legitimacy which have been trying to control the
On December 18, Member of Rosneft Board of Directors, special representative of President of the Russian Federation on international cooperation in the Arctic and Antarctic Artur Chilingarov made a report "Russia and Norway: Prospects for Cooperation in the Arctic" at the Fridtjof
The commercial port in Libya's second city, Benghazi, remains closed due to fighting between pro-government and Islamist forces, forcing wheat imports to make a detour via Tobruk harbour, a port official said. Benghazi has been a battlefield since May
Interview: Oil Spill Repsonse Insights from MSRC's Benze: Steven T. Benz, President and CEO, Marine Spill Response Corporation (MSRC)
As President and CEO of MSRC, Steve Benz presides over the largest oil spill response company in the United States (and worldwide). In that position since January 1996, he has during that tenure, overseen several critical phases in the Company’s evolution
The oil price drop will hand tanker markets an unexpected bonus next year, boosting demand for oil storage at sea while distant eastern markets also bargain-hunt fuel and need shipping. Supertanker rates are already close to five-year highs of over $83
Italian oil and gas group Eni estimated the potential of the Minsala Marine discovery offshore Congo Brazzaville at about 1 billion barrels of oil equivalent, after successfully completing the production test of an exploration well.
Thordon Bearings Inc. signed a letter of intent (LOI) under which it will cooperate with MSR Gryfia of Poland to promote the conversion of ships to an open seawater lubricated propeller shaft Thordon bearing system from a sealed oil lubricated propeller shaft bearing system.
ABIS Projects has won a clutch of contracts worth around £1million over the next 15 months. The oil and gas project services consultancy has secured frame agreements and call-off contracts with ADTI, Hunting, Talisman Sinopec and North Sea newcomer, MOL.
Zargon Oil & Gas Ltd. confirms that the monthly cash dividend for the month of December in the amount of Cdn. $0.06 per common share will be paid on January 15, 2015 to shareholders of record on December 31, 2014. Unless otherwise indicated
Chevron awarded front end engineering and design contracts for the expansion of its Captain oil and gas field in the North Sea to British suppliers Wood Group and Amec Foster Wheeler, it said on Tuesday. The offshore field, located around 68 miles (109 kilometres)north of Aberdeen
Drilling for oil and gas at an exploration block off Bulgaria's Black Sea coast will be delayed by at least six months until early 2016 following the fall in global oil prices, French oil firm Total said. Total, operator of the offshore 1-21 Han Asparuh block
Apache Corp was not in breach of contract in a lawsuit brought by Houston-based oil and gas producer W&T Offshore Inc in 2011, a federal jury found on Monday, according to a court filing. The U.S. District Court for the Southern District of Texas has accepted the jury verdict and W&T
The Bureau of Safety and Environmental Enforcement’s (BSEE) David M. Moore recently traveled to Seattle, Wash., for a meeting of the Arctic Council Emergency Prevention, Preparedness and Response (EPPR) Working Group. The EPPR Working Group addresses various aspects of prevention
Commercial inflows of oil, gas and condensate have been acquired in four exploration wells on Rosneft’s licensed blocks, which were handed over to Verkhnechonskneftegaz for operational activities on geologic survey, exploration and production of hydrocarbon crude
An Italian shipping firm based in Genoa, Italy, pleaded guilty to violating the Act to Prevent Pollution from Ships by falsifying required ships’ documents to hide the fact that the ship had illegally discharged oil contaminated waste into the ocean on multiple occasions