Latest News from Drillmec Times No. 1
We are proud to announce that Drillmec’s team successfully completed the Factory Acceptance Test for the MR-9000 – EU drilling rig on Monday 11th May. This latest model of the renowned Drillmec MR-Series is ready for shipping and will be delivered in June to our client Pe.Be.Ka in Lubin, in …
PGS ASA: Implementing Further Cost Measures
PGS implements further cost reductions to bring annual gross cash cost run-rate to approximately $400 million through staff reductions, re-organization, consolidation of offices, re-negotiation of service agreements and other cost measures. The Covid-19 pandemic and related disruption in the oil market have caused unprecedented challenges for the seismic industry and …
Pre-P&A with Interwell’s Intelligent Barrier Valve
Challenge Having been drilled and completed in April 1997, with 5,5” 23 lbf/ft production tubing, the well was ready for P&A after producing hydrocarbons for almost 22 years. To improve cost efficiency, the aim was to do the job off-line. The requirement was to set a deep plug, cut deep, …
AspenTech: Risk of Using ‘Clean Data’
Mike Brooks, senior director of APM’s business unit at Aspen Technology, a company specializing in the development of software for optimizing production assets, shared an expert opinion on the features of using data analysis technologies. Mike Brooks In recent years, data analysis has played a key role in many industries, …
HYFLEXPOWER: The World’s First Integrated Power-to-X-to-Power Hydrogen Gas Turbine Demonstrator
With the HYFLEXPOWER project, a consortium made up of Engie Solutions, Siemens Gas and Power, Centrax, Arttic, German Aerospace Center (DLR) and four European universities are implementing a project funded by the European Commission under the Horizon 2020 Framework Program for Research and Innovation (Grant Agreement 884229). The implementation of …
Halliburton Launches Real-Time Wireless Depth Correlation System
Halliburton Company today introduces DynaTrac™ Real-Time Wireless Depth Correlation System, a new technology that reduces uncertainty and saves rig-time by enabling operators to accurately position packers, perforating guns and the bottom-hole assembly (BHA) without running wireline or moving the work string. The DynaTrac system takes static measurements to determine the …
Subsea 7 Announces Cost Reduction Measures
Subsea 7 issued further details of the cost reduction programme, following initial guidance provided on 30 April. It is envisaged that the overall reduction in headcount would be approximately 3,000 from the global workforce of 12,000, by the end of the second quarter 2021. It is anticipated that two-thirds of …
Saipem: Signed with Equinor a Frame Agreement for Engineering Services
The Frame Agreement encompasses feasibility and conceptual studies, FEED, detailed engineering and related follow-on and support for R&D activities, as well as assistance to Equinor for its upcoming projects, including new energy-related projects in the onshore, offshore and floating wind sectors. The scope of the Frame Agreement extends, but is …
Kongsberg Digital and private investor invest in NorSea Digital – changes its name to KONCIV
Through a private placement, Kongsberg Digital acquires additional shares in NorSea Digital, now KONCIV, together with the private investor Jacob Møller. NorSea remains its largest owner. The company provides digital logistics services through its cloud solution. Kongsberg Digital, a subsidiary of the Kongsberg Group, is a leading software company witihin …
National Oilwell Varco Announced Suspension of Quarterly Dividend
National Oilwell Varco, Inc. announced today that during its regularly-scheduled meeting, the Board of Directors elected to suspend the Company’s quarterly dividend until further notice. “With the view that capital is becoming increasingly scarce and valuable within our industry, we believe that it is in the best long-term interest of …