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Aker Kvaerner's Technologies Win OTC Award

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.


Hunting profit flat on weak North Sea, Canada

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.


Global Drilling Expected To Bounce Back In 2000

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.


DNV GL's P&A Guideline Could Save O&G $ 32 bln

Per Jahre Nilsen

The plugging and abandonment (P&A) of offshore wells represents a significant cost to operating companies and national authorities. On the Norwegian Continental Shelf (NCS) alone, the cost is estimated to be USD108bn (NOK1870bn) over the next 40 years. Now a new DNV GL guideline will introduce a risk-based approach instead of the current prescriptive practice. DNV GL estimates that when combined with optimized project execution and new technology, the P&A cost can be reduced by 30-50%


“Idle Iron” Mandate to Plug Wells Could Save Some GOM Jobs

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


Sound Oil Upgrades Recoverable Volume of the SMG

James Parsons, Sound Oils Chief Executive Officer

  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


Use a new EOR technology brings award for BP

BP Logo

  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


Petrobras Sets Record in Brazil

  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


Brightoil Reports Steady Growth in Interim Results

Photo: Brightoil Petroleum

Brightoil Petroleum (Holdings) Limited announced its interim results for the six months ended December 31, 2014, reporting steady growth over the period.   During the period, profit attributable to the owners of the group increased 3% year-on-year to HK$561 million. Basic earnings per share amounted to 6.41 HK cents, up 3% from a year ago. Total revenue climbed 11% from HK$40.3 billion in 1HFY2014 toHK$44.9 billion for the period as the twin-engines business model (upstream and


Nigeria Ramps up Push to Eradicate Oil Theft

Nigerian authorities hope to put an end to rampant oil theft in eight months by increasing drone and naval monitoring of territorial waters and working with local communities, the state oil company chief said on Tuesday.   The Niger delta has been plagued by oil theft for years that has left the region heavily polluted and prompted foreign oil companies, particularly Shell, to sell onshore assets.   "We must eradicate oil theft in eight months ..


Lundin Extends Contract for Ocean Rig

Image: Ocean Rig

 Ocean Rig UDW, contractor of offshore deepwater drilling services, has announced that Lundin Norway AS, has declared their third option to extend the existing contract of the Leiv Eiriksson.    In addition, Ocean Rig has granted Lundin 2 additional options to drill further wells


Aker BP Ups 2017 Output View

Oil firm Aker BP, the second-largest operator of oil and gas platforms off Norway, raised its 2017 output guidance and lowered its production cost outlook as it posted second-quarter earnings roughly in line on Friday.   The company is the result of a merger between the Norwegian business


Trump Administration Approves Eni Plan to Drill Offshore Alaska

Image of sea ice in the Beaufort Sea, acquired on 3 June 2017 by the Moderate Resolution Imaging Spectroradiometer (MODIS) instrument, on board the Aqua satellite. (Photo: NASA)

Eni US will become the first energy company allowed to explore for oil in federal waters off Alaska since 2015 after the Trump administration this week approved a drilling plan on leases the company has been sitting on for 10 years.  


Clean Arctic Alliance Welcomes IMO Action on Arctic HFO

Image: Clean Arctic Alliance

 As the International Maritime Organization’s (IMO) Marine Environment Protection Committee (MEPC 71) concluded  on last Friday, the Clean Arctic Alliance welcomed the support from Member States for a proposal to identify measures which will mitigate the risks posed by the use of


Thailand Accedes to Conventions Covering Oil Pollution Damage

Photo:  International Maritime Organization (IMO)

 Thailand has become the latest State to accede to the international conventions on Civil Liability for Oil Pollution Damage (CLC) and the Establishment of an International Fund for Compensation for Oil Pollution Damage (Fund).  


Advanced Greases Can Handle Today’s Deck Equipment Challenges

Photo: Klüber Lubrication

Anchor winches, cranes, level winders and other equipment exposed to the elements on the deck of a vessel ay look good with a thick, consistent layer of grease, but appearances can be deceiving. In fact, several problems may be lurking below the surface of commonly used greases. For example:


CMR Group Awarded R&D Funding

James Thwaites (left) and Lee Willmott celebrate CMR securing five-figure investment funding from Innovate UK (Photo: CMR Group)

CMR Group said it has won funding support from Innovate UK for a new electrical wiring harness being developed for industrial diesel and gas engines used in harsh environments.   The firm, which specializes in marine control instrumentation and electrical engineering


Qatar to Boost LNG Production by 30% Amid Arab Dispute

Photo: Qatar Petroleum

 State-owned Qatar Petroleum said Tuesday it aims to raise Qatar’s LNG production from 77 million to 100 million tons per year.  The new additional volumes will be secured by doubling the size of the new gas project in the southern sector of the North Field


US Oil Drillers Cut Rigs for First Week since January

© Stojanovic Milos / Adobe Stock

U.S. oil drillers cut rigs this week for the first time since January and the pace of additions slowed this quarter due to declines in crude prices despite an OPEC-led effort to cut production and end a multi-year supply glut.   Analysts, however


UN Resolution Targets Libyan Fuel Smugglers

The U.N. Security Council has extended sanctions on illegal oil exports from Libya to cover refined petroleum products as well, in a bid to stem rampant smuggling of subsidised fuel by sea. Imported fuel that is priced lower for the domestic market is commonly smuggled by ship from western


An Engine Oil Goes the Distance

Cylinder liners demonstrated minimal wear (Photo: ExxonMobil)

Inspection reveals that Mobil Delvac 1 ESP 5W-40 provides longstanding protection for Cummins marine main engine; after almost a decade of continuous use, minimal component wear and outstanding cleanliness were discovered   An inspection of one of two main engines on a U.S


Regulatory Growth Drives Search for Durable Lubricants

Photo: RSC Bio Solutions

Using HEPR solutions satisfies regulatory compliance, sustainability initiatives and performance demands.   There are numerous factors that are driving global environmental regulatory growth and the growth in renewable lubricant technologies, such as natural resource constraints


Ballast Water Convention Fate in the Balance -Coldharbour CEO

Andrew Marshall (Photo: Coldharbour)

Delegates at the IMO’s Marine Environment Protection Committee 71, due to gather in London during the first week of July, may well have the last chance to ensure that the long-delayed Ballast Water Convention is implemented, as intended


Aegean Marine Strengthens Presence on the U.S. East Coast

Photo: Aegean Marine Petroleum Network Inc.

 Aegean Marine Petroleum Network has announced the launch of a new service center in Savannah, Georgia, the third largest container port in the United States.       The operations in Savannah will be managed by the existing Aegean U.S. team


One Missing from Sunken Oil Tanker off Yemen

One mariner remains missing after 13 of 14 crewmembers were recovered from the sea following the sinking of their oil tanker in severe weather conditions 240 miles off the coast of Yemen.   At around 4:30 a.m. June 26, the U.K. Coastguard received a Mayday distress call issued by a






 
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