New tools extend deepwater well test, intervention capabilities
Recent advances in control system and tool design address the challenges faced in testing and cleaning up deepwater wells. These advances reduce capital equipment costs, simplify operational management, and extend operating envelopes. Carrying out well testing or clean-up operations in deep water presents a number of challenges, particularly in regard to: Managing the hydrostatic head experienced at the seabed Requiring swift emergency disconnection when working from a dynamically positioned
Condition monitoring compares, contrasts offshore equipment performance
The application of model-based condition monitoring results in more effective maintenance scheduling by providing improved data for process operator and engineer analysis. These systems monitor key process equipment, such as gas turbines, pumps, and compressors. One such system is installed on A/S Norske Shell's operated Draugen production platform in the Norwegian sector of the North Sea and will be discussed in this article.
Energy industry marks progress on Y2K bug solutions as more issues are raised
Now less than 1 year away, the changeover to the Year 2000 continues to pose challenges for the petroleum industry. A recent analysis of the readiness of key oil-producing nations has revealed that their "customer" nations may find their oil supplies threatened if producers fail to fix their Year 2000 (Y2K) problems in time. To protect U.S. interests, says one information technology specialist, the U.S. should establish formal procedures for imparting information to other countries that may be
Fourth quarter earnings dismal; diversity helped some firms
Low oil prices and poor industry fundamentals led to dreary fourth quarter financial results for most energy companies. An asset portfolio that included a strong emphasis on natural gas and power helped cushion the blow, with firms that operate in everything from exploration through electricity generation faring better, in general, than vertically positioned companies. Losses for the quarter were common in many industry divisions, especially among independent firms in both the upstream and
Petroleum industry pushes for compatible upstream software
An alliance of petroleum companies, exploration contractors, and software vendors has stepped up efforts to develop a software specification that makes a wide range of upstream applications compatible. The Open Spirit framework software is anticipated to become the first implementation of the Petrotechnical Open System Corp. (POSC) standard, currently being developed across all sectors of the international oil and gas exploration and production industry.
Earnings plummet for 1998's first 9 months
A Look at 9 Months, Third Quarter Financial Results [415,933 bytes] A Look at 9 Months, Third Quarter Financial Results pg. 2 [394,685 bytes] Significantly lower oil prices for the first 9 months of 1998 resulted in a sharp decline in profits for a sampling of U.S. and Canadian oil and gas companies Oil & Gas Journal has surveyed. A drop in natural gas prices for the period, compared with the same period in 1997, also contributed to the decline in earnings.
No pain, no gain for EU gas firms
European Union gas companies can succeed in the forthcoming deregulated market, but not without changing both their structures and their cultures. This is the view of management consultant Pricewaterhouse Coopers, London, which polled 35 major gas supply, transportation, and distribution companies about their expectations for the EU gas business. The EU agreed to open roughly one third of the EU gas supply market to competition, much to the disappointment of the U.K., which liberalized its own
The cancellation of a drilling contract by a unit of Apache Corp. was incorrectly reported as being related to low oil prices (OGJ, Feb. 1, 1999, p. 30). Apache canceled the contract for drilling in the Gulf of Suez in late 1997 due to government restrictions on drilling in a shipping lane. An Apache official said the government reimbursed the firm for its expenditures. Venezuela's President-elect Hugo Ch vez's unsuccessful coup d'etat in 1992 was against President Carlos Andres