Employers Ordered to Pay Travel Expenses for Shift Workers
Employees working on a rotational basis received a new guarantee. From March 1, 2023, employers are required to pay for travel from the collection point to the place of work and back. The Labor Code indicates the main difference between shift work and other formats. With it, it is impossible …
Nabors Industries Issues Statement on Planned Business Combination Between Nabors Energy Transition Corporation and Vast
Nabors Industries Ltd. issued the following statement today from Chairman, President and CEO Anthony G. Petrello regarding the entry into a business combination agreement between the special purpose acquisition company (SPAC) Nabors formed in 2021, Nabors Energy Transition Corporation (NYSE: NETC, NETC.U, NETC.WS), and Vast Pty Ltd (“Vast”): “We welcome …
Nabors Announces Fourth Quarter 2022 Results
Nabors Industries Ltd. (“Nabors” or the “Company”) (NYSE: NBR) today reported fourth quarter 2022 operating revenues of $760 million, an increase of approximately 10%, compared to operating revenues of $694 million in the third quarter of 2022. The net loss attributable to Nabors shareholders for the quarter was $69 million, or …
8th KDR Well Engineering Forum Travels to Aktau in 2023!
After returning “onsite” to Astana for the first time since the pandemic in November last year, the team have been working on a quick turnaround and KDR 2023 will go “on the road” for the first time since our launch in 2015. We will be hosting the forum on the …
Former Russian Subsidiary of Baker Hughes Will Invest in Its Own Oilfield Technologies
In 2023, the company plans to increase investment in technology localization and will focus on drilling. OFS Technologies, the new owner of former Baker Hughes assets in Russia, is launching an investment program for its own oilfield services technologies. OFS Technologies reported about it on January 24, 2023. In 2023, …
SOCAR Increases Drilling Works by 19% in 2022
The volume of drilling by SOCAR’s drilling departments in 2022 amounted to 73,084 meters, SOCAR told Interfax-Azerbaijan. “In 2022, drilling volumes for the company amounted to 73,084 thousand meters. Compared to 2021, the company increased the volume of drilling work by 18.6% last year,” SOCAR said in a statement. As …
Weatherford Announces Second Quarter 2022 Results and Raises Full-Year Outlook
Full-year revenue outlook increased to mid-teens growth year-over-year Second quarter revenues of $1,064 million increased 13% sequentially, led by strong international growth of 14% Operating income was $104 million, compared to $18 million in the first quarter of 2022 and adjusted EBITDA[1] was $186 million or a 17.5% adjusted EBITDA …
INK: Drills the Longest Horizontal Hole in the History of the Company
Irkutsk Oil Company LLC drilled the longest horizontal well at 2065 meters. This is the longest horizontal section in INC history in 21 years. The record was recorded at the Bolshetirskoye oil field. The work was carried out on a modern Bentec HR 5000 drilling rig. Previously, the maximum horizontal drilling rate …
Tatneft: Results of Operations in July of 2019
The enterprises of the TATNEFT Group of Companies produced 2,603.9 thousand tonnes of crude oil in July 2019, while the production volume for seven months amounted to 17,433 thousand tonnes, which was 638.5 thousand tonnes more than in 2018. PJSC TATNEFT’s production volume amounted to 2,576.2 thousand tonnes with the …
Tyumenneftegaz: Achieves 30% Increase in Downhole Splitter Drilling at the Russkoe Field
Tyumenneftegaz, a Subsidiary of Rosneft, drilled 15 downhole splitters at Russkoe field in 2018, which is 30% more year-on-year. All the drilled horizontal wellbores and laterals are over 16 000 km in length. This technology enables increasing a start-up oil rate by 20-30%, as compared to a conventional horizontal well. Given geology …