Oilfield Services

TGS partnership acquiring more seismic offshore Senegal

February 19, 2020 | Offshore, Rigs & Vessels, Seismic, Senegal

TGS has completed its latest 3D survey offshore Senegal Asker, Norway | – TGS-NOPEC Geophysical Company ASA, referred to as TGS and listed on the Oslo Stock Exchange, has completed its latest 3D survey offshore Senegal. SN-UDO-19, off the country’s northern shore, follows the earlier SS-UDO-19 in the southern offshore. TGS will make available fasttrack data this spring with the full data-set released later in the year. The acquisition vessel BGP Prospector has sailed 200 km (124 mi) north to acquire a further 2,024 sq km (781 sq …

Schlumberger sells drillpipe and fishing businesses

May 14, 2019 | Asset Acquisitions & Divestitures, Company Operations, Oilfield Services

Houston, US | –  Wellbore Integrity Solutions (WIS), and Schlumberger announced that they have entered into an agreement for WIS to acquire the businesses and associated assets of DRILCO, Thomas Tools, and Fishing & Remedial services, along with part of a manufacturing facility located on Rankin Road in Houston, Texas. The transaction is valued at approximately $400 million and is subject to regulatory approvals and other customary closing conditions. The parties expect to close the transaction by year-end 2019. WIS expects to operate the combined …

Iran-backed rebels drone attacks damage Saudi pumping stations

May 14, 2019 | Civil Wars & Terrorism, Middle East, Pipelines, Rigs & Vessels

London, UK | –  Saudi Arabia halted its main cross-country oil pipeline after a drone attack damaged pumping stations along the link, a strike claimed by Iran-backed rebels in neighbouring Yemeni. Oil prices rose. Saudi Aramco, the world’s biggest oil exporter, said that supplies of crude and products continued “normally without interruption,” the official Saudi Press Agency reported, citing the energy ministry. The state producer halted the pipeline transporting oil from eastern fields to the port of Yanbu on the western coast as a precautionary, …

Uganda government pushes oil refinery project to 2023

March 05, 2019 | Construction & Installation, Refining & Processing, Uganda

Kampala, Uganda |  — The consortium of Italian and American investors contracted to design, finance, construct and operate Uganda’s proposed 60,000 barrels per day oil refinery have completed and submitted the facility’s initial designs to the Ugandan government, with Energy Minister Irene Muloni saying they are “happy” with the latest configuration. A government delegation led by Ms Muloni and the Uganda Refinery Holdings Company (UHRC) general manager Michael Mugerwa was in Milan, Italy last week for discussions with the Albertine Graben Refinery Consortium (AGRC) to …

ExxonMobil, Microsoft strike cloud computing agreement for U.S. shale

February 22, 2019 | Company Operations, Products, Services & Techniques

London, UK | – Exxon Mobil Corp and Microsoft Corp have agreed to use cloud technology in the U.S. oil producer’s shale operations, they said on Friday, helping to boost profitability in the nation’s largest shale field. The companies will collect data from Exxon’s wells and other production assets in the Permian Basin of West Texas and New Mexico, where the world’s largest publicly traded oil and gas company holds 1.6 million acres, and make it immediately accessible to Exxon workers. The value of the …

Confident oil industry set to ratchet up spending in 2019

January 22, 2019 | Downstream, Oilfield Services, Upstream

After years of gloom, the oil industry’s out of its slump London, UK – Three-quarters of senior oil and gas professionals surveyed by energy and maritime services company DNV GL say they are optimistic about the sector’s growth in 2019, their sunniest outlook since before the crude-price collapse in 2014. Confidence across the energy industry is now where it was in 2010, when Brent soared to $95/bbl, about 50% above today’s level. That good cheer will translate into higher spending, with 70% of professionals saying …

Total to proceed with Ikike project offshore Nigeria

January 22, 2019 | Budget & Investment, Deepwater, Nigeria, Oilfield Services

London, UK |- French multinational oil and energy group Total will formally approve a decision to proceed with the Ikike project in the OML 99 licence offshore Nigeria. The company has earmarked the 60,000bpd Ikike project for a final investment decision (FID). Other projects earmarked for FID include the deepwater Preowei project, which will have a capacity of 70,000bpd and is expected to help Total increase its oil production. Total CEO Patrick Pouyanne was quoted by Reuters as saying: “There is a huge potential in …

Halliburton profit beats on international demand, North America lags

January 22, 2019 | Earnings Reports, Oilfield Services

London, UK | – American multinational oil field service company, Halliburton Corporation beat Wall Street estimates for quarterly profit on Tuesday, as higher demand for its oilfield services in international markets offset a slowdown in North America. Clients in North America, Halliburton’s biggest market by revenue, began pulling back on some drilling services last year amid transportation bottlenecks in the largest U.S. production region and after oil prices slid sharply in the fourth quarter. An oil glut and concerns about a global economic slowdown have …