Upstream news

Smith Bits, a Schlumberger company, has introduced the StrataBlade* concave diamond element bit.

MODEC has commissioned MAN Energy Solutions to supply a total of five radial compressor and two screw compressor trains for the largest FPSO vessel to ever be delivered to Brazil.

Oil prices continued their free fall for a second day in a row as the market finally corrected itself, pricing in the full impact of a second wave of Covid-19.

ExxonMobil has kept its 4Q20 dividend flat at 87 cents a share.

Shell has raised its dividend after easily beating quarterly profit forecasts, and named nine hubs for oil and gas production.

Two wells at the Cappahayden and Cambriol prospects, drilled this summer in the Flemish Pass Basin, have proven the presence of hydrocarbons.

Petrobras has agreed to purchase the FPSO P-71, currently under construction, for US$353 million.

Oil prices, after a long period of enjoying +US$40 levels, finally fell below the threshold.

Impact has acquired ExxonMobil and Equinor's interests in the Transkei & Algoa Exploration Right and the Tugela South Exploration Right, offshore South Africa.

The November/December issue of Oilfield Technology begins by reviewing the state of the North Sea. The issue then moves on to cover Drilling Technologies, Deepwater Operations, Flow Control, and more.