VES will combine its global manufacturing infrastructure with Sledgehammer’s supply chain efficiency to create a consolidated major producer of consumable downhole oilfield products across the Middle East, Asia and European markets.
Oil balances remain tight and prices are comfortably pinned above US$100 with risks to the upside, according to Enverus Intelligence Research’s latest PetroLogic report, Supply Constraints Dominate.
GD Energy Products has opened a new aftermarket facility to increase customer service and support capabilities in the Louisiana and East Texas region.
Operations have commenced on the Alkaid oil accumulation with the spudding of Alkaid #2, the company’s first horizontal well on the ANS, using the Nabors 105AC drill rig.
The Valaris DS-17 drillship has been tasked to drill an appraisal well, plug an old exploration well and conduct additional drilling scope in Brazil.
The company has announced that it has joined the Aiming for Zero Methane Emissions Initiative, a project to cut emissions of the harmful greenhouse gas to near zero by 2030.
Equinor has initiated a safe shutdown of the Gudrun, Oseberg South, and Oseberg East fields after members of the Norwegian Organisation of Managers and Executives (Lederne) trade union went on strike from midnight.
The permits, for wells off the coast of Norway, have been granted based upon the petroleum resource act paragraph 13.
According to Rystad Energy analysis, global recoverable oil now totals an estimated 1572 billion barrels, a drop of almost 9% since last year and 152 billion fewer barrels than 2021’s total.
The system, which comprises of 1300 t of equipment and stands at 40 metres tall, will enable riser and riserless based well intervention activities in water depths up to 1500 m.
Equinor will retain 49% interest in the project, and Shell will become the new operator of the field. To reflect this change, Equinor and Shell have agreed to rename the North Platte development to the Sparta development.
The well is being drilled with a rig operated by KCA Deutag, with final depth of around 4600 m expected to be reached in October this year.
The company has selected Hiber’s HiberHilo satellite-powered remote well-monitoring solution to ensure the safety and environmental security of numerous oil and gas wells in PNG.
The company will use the funds for the purchase of its third rig.
The company has carried out operations across six continents, from Alaska to Australia, across The Americas, Europe, the Middle East, Africa and South Asia.