Petrobras Uses Palisade’s @RISK for E&P Analysis
The Challenge In terms of its market value, Petrobras, the Brazilian oil producer and refinery operator, is the eighth largest global company in the world. Its investments amount to more than $53 billion, and these include more than thirteen thousand productive oil and gas wells and 112 production platforms. Recently …
Baker Hughes Introduces High-Performance Wellbore Cleaning System
The X-Treme Clean XP system reduces operational risks in high-cost environments Baker Hughes has introduced a wellbore clean-up and displacement system designed to improve efficiency and reduce operational risks in high-cost environments such as deepwater applications; horizontal, extended-reach, and deviated wells; deep wells; and wells with high dogleg severity. The …
Schlumberger Acquires Remaining Equity Shares of Framo Engineering AS
Acquisition marks a step change in development by fully combining Framo Engineering multiphase pumps and meter systems with Schlumberger subsea flow assurance and surveillance technologies. Schlumberger (NYSE:SLB) announced today the acquisition of the remaining equity shares from Frank Mohn AS in Framo Engineering AS—a privately owned Norwegian company specialized in …
Co-operation key to Arctic & Extreme Environment success
International co-operation is essential if the challenge faced by the global oil and gas industry of successfully and responsibly exploring and developing the hydrocarbon resources that lie in the Arctic and sub-Arctic regions is to be met. According to the two co-chairmen of the SPE Arctic & Extreme Environments (AEE) …
Exillon Energy Exploration Update June
Exillon Energy plc, a UK-listed FTSE 250 independent oil producer with assets in two oil-rich regions of northern Russia, Timan-Pechora (“Exillon TP”) and West Siberia (“Exillon WS”), is pleased to announce preliminary results from Exploration Well 4 (EWS-10274). Exploration Well 4 was designed to test an area between the EWS …
Eduard Khudainatov Increases Stake in OJSC Rosneft Share Capital
OJSC Rosneft President Eduard Khudainatov has acquired 1.988 million shares in OJSC Rosneft, increasing his stake in the company’s share capital to 5.115 million shares or 0.0483%. This acquisition of shares confirms Eduard Khudainatov’s statement at the Rosneft shareholders’ meeting on June 10 that the company remains significantly undervalued and …
Schlumberger Foundation Receives $50 Million Donation for Flagship Faculty for the Future Program
Funds advanced science and technology education for women from developing nations The Schlumberger Foundation announced today that it has received a $50 million grant from Schlumberger Limited and its subsidiaries to support the Faculty for the Future program. This flagship program, now in its sixth year, supports talented women scientists …
KMG Update on the situation at Uzenmunaigas
KazMunaiGaz Exploration Production (“KMG EP” or “the Company”) provides the following update on the situation at the Uzenmunaigaz (UMG) production facility in Zhanaozen (Mangystau region). As a result of the industrial action that commenced on 26 May 2011 the total loss of oil production to date amounts to 150 thousand …
KazMunaiGas Exploration Production announces unfavourable decision of the Supreme Court
KazMunaiGas Exploration Production announces the Supreme Court decision with respect to its claim that export customs duty should not be levied on oil exports in 2009 on which rent tax had already been paid. This claim refers to crude oil exports in Q1 2009, which were cleared for customs purposes …
FMC Technologies to Supply Subsea Systems for Shell’s Prelude Project
FMC Technologies, Inc. announced today that it has signed an agreement with Shell Development (Australia) Pty. Ltd. to supply subsea production and associated topside systems for the Prelude field development. The companies also announced an aftermarket agreement that will result in FMC Technologies Australia Ltd. performing installation and commissioning services …