January 2019
News & Resources

Companies in the news

ABB has been awarded an integrated automation, electrification and telecommunication project, valued at $79 million, for the upgrade of Bab onshore field in Abu Dhabi, by CPECC.
Michele Cowart / World Oil

ABB has been awarded an integrated automation, electrification and telecommunication project, valued at $79 million, for the upgrade of Bab onshore field in Abu Dhabi, by CPECC. The upgrade includes a fully integrated ABB ECT solution with 45 power and capacitor bank skids, as well as centralized and localized automation systems, including digital oilfield technology.

BP, on behalf of co-venturers Shell, Chevron and ConocoPhillips, has announced first oil production from the giant Clair Ridge project in the west of Shetland region, offshore UK, located 48.47 mi (75 km) west of Shetland. The field has an estimated 7 Bbbl of hydrocarbons and designed to recover an estimated 640 MMbbl of oil, with production expected to ramp up to a peak at plateau level of 120,000 bopd. 

ADES International Holding Ltd. has completed the acquisition of eleven onshore rigs from Weatherford International plc., in Saudi Arabia. The transaction forms part of the previously signed agreement to acquire 31 onshore drilling rigs for $287.5 million across Kuwait, Saudi Arabia, Algeria and Southern Iraq.

Hess Corporation has made its tenth discovery offshore Guyana at the Pluma-1 well on the Stabroek Block. As a result of this new discovery and further evaluation of previous discoveries, the estimate of discovered recoverable resources for the Stabroek Block has been increased to more than 5 Bboe, up from the previous estimate of more than 4 Bboe, announced in July 2018.

Equinor is stepping up its use of wired drill pipe to acquire subsurface real-time data during drilling operations, in line with the corporate digitalization strategy and to prepare for automated drilling. NOV and Schlumberger have been awarded corporate frame agreements for global deliveries of wired drill pipes to Equinor. Both suppliers use solutions from IntelliServ, which is owned by NOV and Schlumberger.

ADNOC has announced a $1.4 billion investment to upgrade and expand its Bu Hasa field, which will increase crude oil production capacity to 650,000 bpd. This is an important step towards delivery of ADNOC’s 2030 smart growth strategy that seeks to increase its crude oil production capacity and reduce cost to create a more profitable upstream business. The works are expected to take 39 months to complete, and the upgrade will increase oil production capacity to 650,000 bpd by the end of 2020.

Shell, through its affiliate Shell Overseas Holdings Limited, has completed the sale of its shares in Shell E&P Ireland Limited, which holds a 45% interest in the Corrib gas venture, for up to $1.30 billion, to Nephin Energy Holdings Limited.

Faroe Petroleum has commenced the Cassidy exploration well 8/10-7 S in the Norwegian North Sea. The prospect sits within the PL405 Oda license, and is being drilled back-to-back with the production wells on the Oda structure. The total expected vertical depth of the well is approximately 10,026 ft, in a water depth of 216 ft. The co-venturers are Faroe (15%), Spirit Energy Norge AS (40% and operator), Suncor Energy Norge AS (30%) and Aker BP ASA (15%).

Oil & Gas UK has reported that Azinor Catalyst has struck oil at Agar-Plantain, in the Viking Graben area of the northern North Sea, containing 15 MMbbl to 50 MMbbl of recoverable resources. 

Gardner Denver Petroleum & Industrial Pumps has introduced Fluid Transfer Technology, and O’Connell Jetting, as the newest members of their Rental Partnership Program. Rental systems are currently available
in the Ohio, Houston and California markets.

Scottish-American company Ziyen Inc., which has operations in Aberdeen, has achieved first oil at its Potts lease in Indiana, thereby officially classifying itself as an operator by the state’s Department of Natural Resources. Round two of funding is set to close, with a targeted IPO in 2019.

Fluor Corporation and its JV team, KPJV have developed one of the world’s largest, single 3D intelligent plant design models for Tengizchevroil LLP’s Future Growth Project – Wellhead Pressure Management Project in western Kazakhstan. The KPJV team is providing detailed engineering, procurement and construction management.

Wood has been awarded three new, call-off contracts totaling $53 million by ADNOC Onshore. In addition the company has secured a multi-million dollar contract extension from ADNOC Offshore for services to the UZ750 mega project, offshore Abu Dhabi.

Polarcus Limited has been awarded a high-resolution 3D marine seismic acquisition project in North America.
The project duration is approximately 45 days and is expected to commence in second-quarter 2019.

Aquaterra Energy has been awarded a contract by FIRST Exploration and Petroleum Development Company Ltd to design, engineer and install two non-identical Sea Swift conductor-supported offshore platforms in the Niger Delta Basin. The platforms are destined for the Anyala and Madu fields.

DynaEnergetics has opened its manufacturing, assembly and administrative facilities on its industrial campus in Blum, Texas. The facility spans 74,000 ft2, and significantly expands the production capacity of the DynaStage well perforating system.

Enpro Subsea has reached an MSA with Kosmos Energy (formerly Deep Gulf Energy) to provide enhanced subsea architecture and smart standardization via Flow Access Module (FAM) technology. The award is for 4x FAM systems, which will be installed on South Santa Cruz, Odd Job, Double Team and Kodiak fields.

Gauthiers’ Oilfield Rental, LLC has changed its name to Modex, LLC. The name change follows the transaction between the companies in May 2015 where Gauthiers’ Oilfield Rental, LLC became part of Modex.

Eagle Resources Corporation has entered into a JV agreement with Freedom Energy Resources LLC to explore and develop conventional oil drilling prospects in the Lodgepole Reef Formation in North Dakota, offsetting existing Lodgepole fields. The partnership will be called Eagle Drilling Venture 2018.

Airswift has opened a new office in Aberdeen to support recruitment, client and contractor services for local projects. In addition, the company has secured a contract with Repsol Sinopec to provide payroll and recruitment services, which validates the move even further.

About the Authors
Michele Cowart
World Oil
Michele Cowart Michele.Cowart@WorldOil.com
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