Rystad Energy: Oil Continues its Ascent on Tight Supply Environment
The reason oil prices are reaching multi-year highs is the unexpected product gap the market is facing, as the theme so far for 2022 is that the oil market is short of the oil supply it anticipated for the beginning of 2021. Unplanned outages this month have flipped what was …
Rystad Energy: Oil Prices Surge on Middle East Tensions and Dwindling Supply
Global oil price benchmarks are surging to highs not seen in almost eight years, triggered by a low supply outlook complicated by tensions in the Middle East. The oil supply outlook for January and February looks very tight, but central bank decisions further down the line may not have the …
Brownfield: Development Drilling With ECO System
CASE OVERVIEW A drilling company operating in mature brownfields, with a well-defined subsurface play model and extensive knowledge of the Volga-Ural region geology, adopted the digital ECO System to optimize production wells construction time. ECO implementation included the deployment of the cloud component, setting up ECO gateway at the rig, …
What Is Well Construction Digitalization? Hear The Experts
Dr. Khaydar Valiullin, WellsX LLC Digital Drilling: Thoughts and Expectations Today, the entire world is excited by the expectations of the current and future benefits that the digital age will bring to all of us. Phrases such as “digital drilling”, “digitalization”, “machine learning”, “digital twin” became a common air buzz …
ECO System Interview – Kamil Zakirov
As the world moves towards the digitalization of oil and gas operations, we speak to Kamil Zakirov, CEO at ECO System. In this interview, we discuss the “digital” development of the Russian upstream O&G sector and learn about at the ECO digital platform – a complete digital solution for drilling …
Greenfields: Exploratory Drilling With ECO System
CASE OVERVIEW An E&P company drills wildcat wells in poorly explored and hard to access locations in Eastern Siberia. Exploration campaign success has been compromised by substantially greater expenses than foreseen. These high uncertainties were associated with a lack of reliable and effective tools for remote operations control and contractor …
Aker Solutions: Appoints Kari Ertresvåg as SVP Communications
Aker Solutions has appointed Kari Ertresvåg as senior vice president for communications. The company is growing rapidly within low-carbon solutions for oil and gas production and renewable energy. Ertresvåg brings with her extensive experience and will be central in communicating the business opportunities in the energy transformation to stakeholders globally. …
Rystad Energy: Oil Steady as Economic Recovery Weighs Against High Inflation and Rising Inventory
Oil prices have found something of an equilibrium today as Omicron-related concerns wane and the hopes of a robust economic recovery grow, but inflation and inventory levels are keeping prices in check. Although uncertainty remains, Omicron concerns continue to wane, and many market watchers are betting that the end of …
Parker Wellbore: Sets Six-Point Plan to Achieve New Environmental, Social, and Governance Goals
Leading international oilfield services company Parker Wellbore today launched its six-point plan to ensure the organization plays a leading role in tackling climate change challenges for its customers. The program for success is outlined in the company’s inaugural Environmental Social Governance (ESG) report, which addresses the organization’s commitment to key environmental, social, …
Rystad Energy: Global Oil and Gas Investments to Hit $628 Billion in 2022, Led by Upstream gas and LNG
Global oil and gas investments will expand by $26 billion this year as the industry continues its protracted recovery from the worst of the pandemic and the hurdles imposed by the Omicron variant. An analysis by Rystad Energy projects overall oil and gas investments will rise 4% to $628 billion …