Another round of job cuts has reportedly been announced to Odfjell Drilling’s workforce. Stavanger’s Aftenblad reported that around 200 employees would be given a pink slip over a contract loss for five Statoil’s installations offshore Norway. Further details about locations impacted by this decision are still unknown, but the Norwegian news website informed that the Norwegian section will be the ...
Read More »
The companies latest fleet report confirms that Shell have awarded a 2 year extension for the Noble Hans Deul at the reduced rate which will take effect from August 2016. The contract was originally started in August 2014 and the extension secures work for the rig until August 2016. The new terms state: ‘The client has the right to early ...
Read More »
Royal Dutch Shell (RDSa.L) could sell some of its older, lower grade North Sea assets to improve the quality of its portfolio, CEO Ben van Beurden said on Tuesday, part of a two-year programme to help finance its purchase of gas major BG Group. After completing the $52 billion acquisition of BG in February, Shell said it would sell $30 ...
Read More »
Russia will export about 180,000 bopd more in 2016 as compared to last year, analysts said Friday. According to ESAI Energy, exports via pipelines and Far East ports leading directly to Asia will only increase by 50,000 bopd, with the remainder of the growth coming in outflows from European ports. Higher exports from European ports will encourage greater outflows of ...
Read More »
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 ...
Read More »
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). ...
Read More »
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 ...
Read More »
Drilling Magazine Media Intelligence, Contextual Wisdom