TOPICS OF INTEREST
MANAGEMENT AND INFORMATION
Medical Device Engineering Firm Acquires Oil and Gas Test-System Designer
The two companies have collaborated since 2015 on various projects, but COVID-19 brought Velentium and Oasis Testing together for a unique purpose—to quickly ramp up the manufacturing capacity for critical, life-saving ventilators.
TechnipFMC Resumes Move Toward Split
The firm has been working to spin off Technip Energies, creating two companies, with Technip Energies focused on engineering and technology and the remaining TechnipFMC focused on providing integrated technology and services.
Staged Development Strategy Benefits Smaller Oil Fields
An ATCE presentation outlined how staged field development can help make smaller oil discoveries commercial alongside existing engineering solutions.
Getting Serious About Transformation: Business Unit Changes Aren’t Enough
Deloitte discusses the “great compression” of the oil and gas industry in which companies’ room to maneuver is restricted. How can the industry avoid a talent gap and stop an organizational challenge from becoming a precarious business problem?
Digital Evolution in Oil and Gas: Barriers, Successes, and the Future
A recent panel discussion highlighted the industry’s progress in achieving significant digital advances. Barriers remain, however, and the measurement of success is being defined in this evolving technological step change.
Global E&C To Consolidate Business Units
The moves are part of the company’s plan to consolidate its recently acquired business units to stabilize its business following the global pandemic and economic downturn.
PTTEP Awards Contract to Halliburton for Offshore Digital Transformation Project
The software solution aims to improve operational efficiency and production from subsurface to processing facilities in four offshore fields.
Offshore Driller Valaris Files Chapter 11 To Reduce $7-Billion Debt
Valaris, formed in 2018 after the merger of Houston-based Rowan Cos. and London's Ensco, faces fallout from the oil-price drop, canceled or delayed drilling programs, and contract and day rate modifications.
Offshore Driller Noble Files Bankruptcy To Shed Debt of $3.4 Billion
Citing impacts from COVID-19, Noble Corp. is entering into a prearranged agreement with its bondholders that will give it a fresh start with a new line of credit.
SwRl Uses AI To Detect, Quantify Small Methane Leaks
Machine learning enables fast, cost-effective, and accurate methane emissions detection in remote areas.
The Buzz About Drones: More Safety, Less Cost To Inspect FPSOs
A recent test proved the feasibility of using LiDAR on remote-controlled drones to create 3D maps of the inside of tanks, increasing the safety and efficiency of inspections.
Study Outlines Potential Economic Impacts of GOM Oil and Gas Industry Through 2040
The economic impact report looked at scenarios involving current policies and potential bans on both drilling permits and offshore leases.
Artificial Intelligence Improves Business Outcomes for Offshore E&P
Despite streams of data being available on platforms about the condition of topside and drilling equipment, most experts agree that only a small fraction of such data is used. Whether for a fleet or single platform, AI can transform an offshore enterprise.
Artificial Intelligence Optimizes Oil and Gas Production
An AI-based application enabled operators to preempt ESP failures while optimizing production.
Artificial Intelligence Converts Drawings to Data
Artificial intelligence systems can be trained to recognize visual content in drawings and provide a simplified context. The complete paper highlights the use of AI to process a scanned drawing and redrawing it on a digital platform.
Machine Learning and Artificial Intelligence Complement Condition Monitoring
Time-stamped data anomalies can lead to more-accurate identification and faster diagnosis.
Chevron Sells Azerbaijan Assets to MOL Hungarian Oil and Gas
The deal is part of the company’s divestment program targeting proceeds of $5 to 10 billion between 2018 and 2020.
OGUK Survey Aims To Find Supply Chain Solutions
Results of the survey will provide support for the UK’s initiatives to help businesses affected by the industry downturn and the COVID-19 pandemic.
Immersive Tech, Cybersecurity, and Data Management Key Themes at VR/AR Forum
More energy and engineering companies participate in second Industrial VR/AR Forum.
Take 10: Oil & Gas, Energy, and Chemicals in 2020
What will 2020 look like for the oil and gas, energy, and petrochemical markets? Here are 10 observations from ADI Analytics that demonstrate just how global and complex the energy mix has become.
Equinor Plans Extension of Statfjord Field
The plan will extend production of the largest field on the Norwegian Continental Shelf to 2040, while also deferring plans to decommission the Statfjord A platform. Statfjord A was originally scheduled to be decommissioned in 2022.
ISO Approves First Safety Standards for Commercial Drone Operation
The organization said the new standard, which focuses on air safety and data protection, is the first step in a wider move to promote the use of drones within a framework of approved regulatory compliance.
BP Completes North Sea Drone Methane Monitoring Pilot
The pilot used sensor technology originally deployed by NASA for the Mars Curiosity Rover to collect methane emissions data live-streamed from a drone. BP said it plans to deploy the technology to all of its North Sea assets, including ETAP and Glen Lyon, in 2020.
Silicon Valley and Oil and Gas: Lessons in Patience for New Tech Development
The entrepreneurial ecosystem and the oil and gas industry are not a perfect match, but the industry has made strides in recent years to attract the startups developing innovative technologies that could usher it into a new era. How are companies bridging the gap?
Hillcore Group Acquires Major Canadian Well Services Company
The private investment firm said it will partner with Treeline Well Services, one of the largest private rig providers in Canada, to build its service fleet following acquisition of the company. Treeline’s core areas are in Alberta and British Columbia.
Should Cybersecurity Drive Business Decisions?
Cyberattacks are often seen as an IT issue, but the intelligence gained during the development of an effective cybersecurity protocol may serve a broader role as a business driver for energy. What should companies look for in assessing threats?
BASF, LetterOne Agree To Merge Oil and Gas Businesses
The deal, which is subject to regulatory approvals, would mark the largest E&P merger in Europe in more than a decade. The two companies combined made $5.5 billion in revenue last year.
Siemens and Bentley Systems Collaborate on Process Industries Academy Initiative
The goal is to support the development and sharing of best-practice approaches for project delivery and asset operations using cloud services and digital workflows in engineering and operations.
PDO Partners With Energy Technology Accelerator
Petroleum Development Oman has partnered with SparkLabs Group, a global venture and accelerator group, and Phaze Ventures, a new technology group focused on innovation throughout the Middle East, to launch a new accelerator focused on energy technology in the region.
Catalysts for Offshore Progress: Service Company Partnerships, M&As
Executives from several service companies involved in the offshore space—including two sides of a recent hostile takeover bid—came together at OTC to discuss the virtues of collaboration and rationale behind M&A.
How Long Can the Oilfield Services Sector Be Squeezed?
Leaner business approaches have led to guarded optimism in the industry. While no bonanza is yet being trumpeted, the road to recovery appears to be smoothing out for the operators. But what about the oilfield services companies? How are they faring?
Short-Cycle Projects Key to Surviving the Downturn
Short-cycle projects allow owners and operators to stay financially stable while preserving the production infrastructure and capacities needed to expand quickly when oil prices improve.
New Occupational Health Hazards Emerge in Unconventional E&P
A NIOSH hygienist examines emerging chemical exposure risks workers faced during drilling, completions, and servicing operations.
Macondo Contractor/Operator Gaps Identified by CSB
Various incidents that took place between Transocean, the owner of Deepwater Horizon, and BP, the company that leased the rig for use at Macondo, illustrate the gap between work-as-imagined in the drilling program and work-as-done by the well operations crew.
AUVs Gain Momentum in Oil and Gas Operations
AUVs have evolved from an emerging technology with niche uses to a viable solution and an established part of operations in various marine sectors. Douglas-Westwood’s AUV Market Forecast considers the prospective demand for AUVs in the commercial, military and research sectors over the next 5 years.
Onshore Spending on the Cusp of Recovery
Douglas-Westwood’s quarterly World Oilfield Services Market Forecast and World Oilfield Equipment Market Forecast continue to suggest that 2016 marks the start of a barren period for the global oilfield services and oilfield equipment sectors, with onshore looking more positive than offshore.
Information Management Essential to Efficient Facilities
The amount of data within industry continues to grow. Information management is a significant challenge, but it provides an opportunity for improved project performance.
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