The Court Rendered A Decision in The Dispute Between Baker Hughes and Yamal LNG For $50 Million
Nefteservis tried to get the interim measures canceled. The Arbitration Court of the West Siberian District rejected the complaint of Baker Hughes Rus Infa LLC. The company was unable to challenge the imposition of interim measures: arrest of accounts in the amount of $50.7 million (at the Central Bank exchange …
Oilfield Services Company Halliburton’s Quarterly Revenue Growth Fell Short of Market Forecasts
American oilfield services company Halliburton Co. in 2023, it increased its net profit from 1.7 times, to $2.64 billion, its annual revenue increased by 13%, to $23 billion. In the fourth quarter of 2023, the company increased net profit by 1% and revenue by 3%. The company’s net profit in …
Russia Has Created a Method For Monitoring Oil Production Without Expensive Sensors
Specialists from the Perm National Research Polytechnic University (PNRPU) have developed a system for monitoring and managing the operating parameters of pumps in oil production plants, replacing expensive sensors, the breakdown of which increases the financial and time costs of enterprises. The press service of the university reported this. “To …
SLB Increased Revenue By 14% in The Fourth Quarter
US oil services company SLB (formerly known as Schlumberger) increased its net profit by 4% in the fourth quarter of 2023, with adjusted earnings and revenue exceeding market expectations. Net income in the October-December period was $1.11 billion, or 77 cents per share, compared with $1.07 billion, or 74 cents …
The TAGRAS Holding Division Plans to Introduce a New Source of Seismic Vibrations
At the request of Russian geophysicists, Belarusian colleagues manufactured a hydropneumatic source (HPS) to excite seismic vibrations. Two more copies of HPS-1 are on the way. The equipment was created at the production site of the Belgidravlika enterprise, part of the Niva holding. Such a wave source is safe for …
Petrosibir: Production Report December 2023
Petrosibir’s total oil production during December 2023 amounted to 20,203 barrels, equivalent to 652 barrels per day. The table below summarises the average monthly / daily production in 2023 and in 2022, broken down by region. 2022 2023 Average Jan Feb Mar Apr May Jun Total …
SLB Announces Fourth-Quarter and Full-Year 2023 Results
SLB Announces Fourth-Quarter and Full-Year 2023 Results and Raises Quarterly Dividend by 10% Fourth-quarter revenue of $8.99 billion increased 8% sequentially and 14% year on year Fourth-quarter GAAP EPS of $0.77 decreased 1% sequentially and increased 4% year on year Fourth-quarter EPS, excluding charges and credits, of $0.86 increased 10% …
Severstal Has Completed a Comprehensive Supply of Metal Products for the Reconstruction of the Support Base of an Offshore Stationary Platform at One of the Large Offshore Oil Fields in Russia
Severstal has successfully completed a comprehensive supply of rolled metal for the reconstruction of the support base of a stationary offshore platform. It will become a key facility in the development of one of the promising oil production projects in Russia. “For Severstal, this is another successful example of implementing …
A New Way Has Been Found to Increase Oil Recovery Factor During Reservoir Flooding
Scientists from Kazan Federal University have obtained new results in the field of physical and chemical hydrodynamics. They studied the effects of surface tension and contact angle on the adsorbed amount of surfactants. The Devon News Agency was informed about this by the press service of the Institute of Geology …
Tatneft Geodetic System Has Become Self-Learning
Modernization will make it possible to record the weakest local vibrations of the subsoil at the noise level, and also to more efficiently develop the Romashkinskoye field. Tatneft has modernized a special-purpose geodetic network with the help of scientists from Kazan Federal University. It uses artificial intelligence and machine learning …