News

Smith Bits, a Schlumberger company, announced today the release of the AxeBlade ridged diamond element bit, which incorporates new-geometry Axe ridged diamond elements across the bit face. These bits improve rates of penetration (ROP) in a wide range of formations and steering response in directional applications, according to Schlumberger. “The drill bit market is performance-driven and seeks polycrystalline diamond compact ...

The HeatWave Extreme service – jointly developed by Weatherford and Chevron – won the top prize recognizing achievement in the oil and gas industry at the SPE Thailand E&P Annual Awards Program 2015, held on February 26 in Bangkok, Thailand. The HeatWave Extreme service includes an enhanced logging-while-drilling (LWD) tool string capable of withstanding temperatures of up to 410°F (210°C). ...

The IADC Executive Committee of IADC announced today that Jason McFarland has been appointed President of the IADC, pending ratification by the Board of Directors during IADC’s Annual General Meeting in November. “Jason has capably served as our interim President since December 2015 and since then has proven to the Executive Committee that he has the leadership and strategic and ...

Managing Director of the National Iranian Oil Company (NIOC) Rokneddin Javadi said that Iran has increased its crude oil export to 1.8 million barrels a day. Speaking at a company meeting on Wednesday, he said that post-sanctions development will be the main item on the oil industry’s agenda during the Fifth Five-Year Economic Development Plan. He set the 4-billion-barrel output ...

National Iranian Drilling Company (NIDC) has drilled over 113km of earth at South Azadegan development project. Manouchehr Asadi, NIDC’s project manager, has said drilling projects at the oilfield, which Iran shares with neighboring Iraq, are 75% complete. NIDC has placed 8 drilling rigs in the region which have so far finished spudding 28 wells and are to drill another 8 ...

Managing director of the National Iranian Drilling Company (NIDC) said the firm needs to buy offshore rigs worth 200 million dollars as negotiations are underway with domestic and foreign investors from Asia and Europe. “Number of drilling rigs will increase to 80 next year (starting March 21),” Heydar Bahmani told Shana saying that NIDC currently owns 75 rigs. Bahmani added ...

9 out of 13 members of International General Insurance (IGI) have suggested to offer insurance risk coverage to Iran, a senior petroleum official said. Mohsen Qamsari, director of international affairs of the National Iranian Oil Company (NIOC), said the India, China and Turkey are traditional customers of Iran’s crude oil and ship their purchases by using Iranian insurance coverage. He ...

Research Department of National Iranian Gas Company (NIGC) has short-listed 70 laboratories from 1,500 private sector candidates as eligible for offering services to the country’s gas industry. Head of the NICG technical laboratory has said that the selection process was a sensitive one given the crucial role of laboratory services in the gas industry. Amir Fareqzadeh said proper laboratory services ...

Managing director of Arvandan Oil and Gas Company said the company is prepared to launch North Azadegan oilfield an output of 75,000b/d. North Azadegan is one of the oil fields in the West Karoun block whose development is highly priorities by Iranian petroleum ministry. Sultan Kamali said Arvandan is waiting for Petroleum Engineering and Development Company (PEDEC) to conclude its ...

Managing Director of the North Drilling Company (NDCO) said the company is ready to erect five more offshore rigs in the Persian Gulf oil field following launching of Sahar-2 rig in Salman field which Iran shares with UAE. Speaking at the signing ceremony of Sahar-2 leasing agreement between NDCO and Iranian Offshore Oil Company (IOOC), Ezatollah Hejazi said that the ...