Digital oilfield news

Expands portfolio to cover more of the energy value chain than any other oil and gas software provider.  

Cyber security breaches in the Middle East are widespread and frequently undetected, with 30% of attacks targeting operational technology (OT), finds a new study by Siemens and Ponemon Institute.

Downtime caused by critical system failures continues to be a key challenge for the oil and gas industry, estimated to cost the UKCS more than US$1 billion a year in lost production.

AGR, the well design and drilling project management firm, has agreed to host its iQx software on the platform, which contains information that is vital to companies selecting locations of wells.

The digital twin models will be connected to the Mad Dog 2 facility-integrated control and safety systems to create a realistic simulation environment.

An integrated operations support centre and a drilling operations centre will help reach Statoil’s ambition of increasing value creation from operated fields in Norway by more than US$2 billion from 2020 to 2025 before tax.

Cutting the US deepwater royalty rate from 18.75% to 12.5% for new leases, as proposed by the US Royalty Policy Committee in its meeting on February 28, would significantly improve the attractiveness of the country’s fiscal regime, according to GlobalData, a leading data and analytics company.

This end-to-end offering unlocks the power of two industry leaders to deliver improved profitability and operational excellence to maximise return on capital.

Following the partnership formed by GE and Noble Corporation plc, the two companies launched the world’s first digital drilling vessel, targeted to achieve 20% operational expenditure reduction across the targeted equipment and improve drilling efficiency.

The survey of energy professionals and management also reveals that sector pay has increased modestly in the past year, while over half of those surveyed would consider moving to another sector.