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Oilfield Service Technology Pitfalls And how to avoid them.

Oilfield Service Technology Pitfalls And how to avoid them.

Oilfield service is a tricky business for a number of reasons. But fluctuating demand driven by commodity prices are the root cause behind a number of the challenges executives in this industry face

190916 Rystad Saudis Stocks Graph

Rystad: Oil price spike likely short-lived after Saudi drone attack

The drone attack on the world’s largest oil processing facility, Abqaiq in the heart of Saudi Arabia’s oil industry, forced Saudi Aramco to shut in 5.7 million b/d of crude production, or roughly 7% of the current global crude and condensate production.

190913 Pkn Orlen Plock Refinery

PKN Orlen lets contract for Plock refinery

PKN Orlen let a contract to Honeywell UOP to provide process technology designed to increase production of ethylene and aromatics and improve flexibility of gasoline production at its 327,300-b/d integrated refining complex in Plock, Poland.

Vaalco well to appraise deeper Etame zone

Vaalco Energy Inc., Houston, has started a drilling program in Etame oil field offshore Gabon that will include appraisal of a reservoir below existing production.

190913 Gazprom Neft Omsk Delayed Coking

Gazprom Neft advances Omsk refinery delayed coking project

PJSC Gazprom Neft has completed installation of the main section for its project to expand delayed coking capacity at its 430,000-b/d Omsk refinery in Western Siberia as part of the operator’s second phase of its ongoing modernization program.

190912 Rystad Production Chart

Rystad: US shale production to reach 14.5 million b/d by 2030

US shale production will peak at 14.5 million b/d around 2030, Rystad Energy forecast, saying US light, tight oil (LTO) represented less than 1% of world oil supply 9 years ago but represents close to 10% of total world oil supply in 2019.

190912 Equinor Tordis Vigdis

Tordis, Vigdis facilities to operate 34 years beyond previous consents

Equinor has been granted consent by the Norwegian Petroleum Directorate to use the facilities on Tordis and Vigdis fields in the North Sea beyond their respective December 2019 and March 2024 consents.

190912 Equinor Bahamas Spill

Equinor progresses with oil spill recovery in the Bahamas

Equinor is progressing with oil spill recovery at the South Riding Point terminal in the Bahamas after the impact of Hurricane Dorian. An onshore team has started to recover oil and move it into tank storage.

190911 Wgc Equus Schematic

Western Gas aiming for 2024 for start of Equus gas production

Western Gas Corp. reported that its Equus gas project offshore Western Australia is on track for coming on stream in 2024. The estimate follows completion of an “upstream-to-LNG development plan” and the commencement of project financing and partnering.

190910 Eia Steo Chart

EIA continues to lower oil price, demand growth forecasts

In its September Short-Term Energy Outlook, the US Energy Information Administration reduced its 2019 Brent crude oil price forecast to $63/bbl, which is $2/bbl lower than in its August STEO.

190910 Suncor Cogen Coker

Cogeneration due at Suncor oil sands plant

Suncor Energy Inc. will invest $1.4 billion to replace two coke-fired boilers with gas-fired cogeneration units in a project that will cut greenhouse-gas emissions from steam production at its Oil Sands Base Plant by 25%.

190909 Noble Leviathan Lift

Two main topsides lifted onto Leviathan platform

Heerema Marine Contractors’ Sleipnir semisubmersible crane vessel, said to be the world’s largest, completed a 15,300-tonne lift, installing the topsides for Noble Energy’s Leviathan development in the Mediterranean Sea.

190909 Equinor Dorian Terminal

Equinor addresses hurricane-damaged terminal in Bahamas

Equinor continues the work with resources from the Bahamas, the US, and Norway to respond to the effects of Hurricane Dorian on the South Riding Point terminal on Grand Bahama Island and the oil spill at the terminal site and nearby.

190906 Cooper Annie Map

Cooper Energy-led JV makes gas discovery offshore Otway

The 50-50 joint venture of Cooper Energy Ltd., Adelaide, and Japanese entity Mitsui E&P Australia has reported a natural gas discovery with the Annie-1 wildcat in permit Vic/P44 in the Victorian section of the offshore Otway basin.