Global recoverable oil reserves hold steady at around 1500 billion bbl
Rystad Energy’s latest research shows global recoverable oil reserves held largely steady at around 1500 billion bbl, down some 52 billion bbl from the company’s 2023 analysis.
Drilling & production
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GA Drilling partners with Petrobras to deliver efficiency in the deep drilling process
In cooperation with Cenpes, Petrobras’ research, development, and innovation centre, the partnership aims to improve the industry by bringing a next-generation downhole drilling system to fruition.
TGS to enhance Mauritania’s subsurface data
The new subsurface data includes ten narrow azimuth input 3D seismic surveys, processed by ION in 2022 using 3D pre-stack depth migration.
Archer secures contract in Brazil
The contract will commence in November 2024 in direct continuation of Archer’s current contract for drilling operations and maintenance on Equinor’s Peregrino A & B platforms.
Rystad Energy shares oil macro update
Global Market Analysis, Director Claudio Galimberti, Rystad Energy, provides an oil macro update after prices were seen to take a hit.
STRYDE celebrates contract wins for seismic data processing solutions
The company has secured a total of 11 new contracts since July 2023, delivering subsurface insights to companies in the geothermal, CCUS, oil and gas, mining, and water exploration sectors.
Valaris announces multi-year contract award for drillship VALARIS DS-17
Valaris has announced that it has been awarded a multi-year contract with Equinor Energy do Brasil Ltda., a subsidiary of Equinor, for drillship VALARIS DS-17.
More Drilling & production news
Wood Mackenzie: National M&A spend hits 20-year low
According to Wood Mackenzie, international M&A spend from NOCs has collapsed from over US$30 billion per year (2009 – 2013) to less than US$5 billion (2019 - 2023).
Union Jack Oil plc shares drilling update
The company has announced a positive drilling update in respect of the Andrews 2-17 well, located in Seminole County, Oklahoma, United States, in which Union Jack holds a 45% working interest.
Equinor shares second quarter 2024 safety results
The company has announced that the total number of serious incidents and injuries per million hours worked has never been lower than at the end of the second quarter.
NSTA clamps down on well decommissioning delays
North Sea operators must take action on well decommissioning to support the UK’s supply chain, clean up their oil and gas legacy and stop costs spiralling, the industry regulator has warned.
Ramco Norway secures long-term OCTG contract with Equinor
The company has secured a long-term contract with Equinor. This provides the company with stable employment and strategic growth opportunities, says CEO Arild Moe, from the headquarters in Florø, Norway.
Fishbones signs multi-year contracts with Middle East operators
Fishbones has signed contracts for deliveries of Fishbones stimulation technologies with two major national Middle East operators. Contract values are estimated to exceed a total of US$15 million.
State 36-2R well production test commenced
Zephyr Energy has announced the commencement of the well production test on the State 36-2R LNW-CC well at the Company's flagship project in the Paradox Basin, Utah.
ReconAfrica announces the spud of the Naingopo exploration well
Reconnaissance Energy Africa and its joint venture partner NAMCOR has announced the spudding of the Naingopo exploration well on Petroleum Exploration Licence 73 onshore Northeast Namibia. Additionally, the Company announces a joint venture update as well as a warrant exercise update.