P2 ENERGY SOLUTIONS
P2 Energy Solutions announced the release of P2 Forecast, a new analytics solution that generates unbiased, probabilistic oil and gas production forecasts automatically, freeing up engineers' time to focus on other engineering-intensive, value-added activities. P2 made the announcement at the Petroleum Network Education Conferences' (PNEC) 20th International Conference on Petroleum Data Integration, Information and Data Management.
P2 partnered with BetaZi - developer of the BZ Machine, a physics-based predictive analytics engine - to create P2 Forecast. The BZ Machine generates a million different physically-plausible curves and groups them into percentiles using a company's monthly production volumes. The forecasts produced by P2 Forecast are automated so the forecasts are machine-generated, no engineering time or manual intervention of any kind is ever required. Blind tests have shown P2 Forecast's projections to be much more accurate than those done by hand.
P2 Forecast also generates a full range of future production possibilities, from p1 to p99, for every well in which a company has interest and provides unbiased forecasts for tens of thousands of wells that can be produced in a matter of hours, not the weeks or months traditionally required.
AVEVA
AVEVA announced that DowAksa has standardised on AVEVA's Integrated Engineering & Design solution. Established in 2012, DowAksa develops and globally markets a broad range of products and technical services to support the growing carbon-fiber-based composites industry.
DowAksa needed to increase the efficiency and integration of engineering and design works for its existing facilities and future projects.
DowAksa is a large-scale, full-service, fully integrated provider of carbon fiber solutions for industrial applications in today's transportation, infrastructure and energy markets. Very strong and lightweight, carbon-fiber-based materials are used in a variety of applications where weight savings, emissions reduction, durability and energy efficiency are key performance factors.
HALLIBURTON
Halliburton announced that it worked with Eclipse Resources Corporation to complete hydraulic fracturing of the extended reach lateral test well known as "Purple Hayes." The Utica Shale well had a lateral length of over 18,500 feet and was completed with 124 frac stages in 24 days. The total depth was 27,046 feet, including the lateral extension which Eclipse believes is the longest horizontal onshore lateral ever drilled in the United States.
The fracturing operations performed by Halliburton utilized the company's industry-leading Q10TM pumps equipped with dual fuel technology, which performed with zero down time. In addition, SandCastle® PS-2500 units equipped with Halliburton Dust Control systems provided superior sand loading logistics while reducing the environmental footprint on site. The efficiencies achieved with this equipment allowed Eclipse to improve its daily completion rate by 20 percent over the original plan, lowering their ultimate cost per BOE
PROSEP
ProSep, an industry leading technology and service provider for integrated process solutions, announced that it will supply four ProMix™ units to a National Oil Company based in the Middle East.
According to ProSep, the ProMix™ technology can generate homogeneous and moderate shear force to the dispersed phase across the cross section of the main flow, providing a narrow uniform droplet size distribution, significantly increasing interfacial contact area, enhancing mass transfer between different flows. This will enable the client to reduce chemical consumption up to 25% compared to conventional technologies, while maintaining optimal separation performance at its gas oil separation plant.
INOVX
ClearEdge3D Inc. and INOVX Solutions Inc. are pleased to announce they have signed a collaboration agreement to better leverage both companies and their technologies. The key objective is to increase value in solutions offered by both ClearEdge3D and INOVX through efficiently creating and better utilizing and maintaining intelligent 3D models built from point clouds.
The Process industry is increasingly leveraging solutions to achieve better plant efficiency and asset reliability. Plant owners are now taking advantage of 3D models and solutions specifically designed to interoperate with all of their major business applications, which is significantly improving Inspection and Maintenance business execution. This has, in turn, led to increased demand for the creation of more accurate intelligent models that can be relied upon by these same Owner/Operators.
SCHLUMBERGER
Schlumberger announced the release of the Maze* microfluidic SARA analysis for reservoir fluids characterization. This is the first commercial application of microfluidic analysis technology in the oil and gas industry.
The Maze microfluidic SARA analysis fully automates the process for testing oil samples for saturates, aromatics, resins and asphaltenes (SARA)-coupling novel microfluidic technology with spectroscopy. This method eliminates human subjectivity enabling precise SARA measurements, while decreasing turnaround time and use of chemicals by more than 85%.
Results from the Maze microfluidic SARA analysis have industry-wide applications, including validating oil samples prior to PVT analysis, understanding physical and refining properties, assessing crude oil value, and supporting flow assurance and geochemical studies.
Microfluidic chip technology has been accepted by ASTM International Standard D7996 as the industry's best test procedure for measuring asphaltenes. More than 1,900 asphaltenes analyses using the microfluidic chip technology and 300 SARA analyses have been successfully completed across Schlumberger's global network of research centers and reservoir laboratories.
VALLOUREC
Vallourec, a world leader in premium tubular solutions, announced that it finalized the disposal of Vallourec Heat Exchanger Tubes to American Industrial Acquisition Corporation on April 29, 2016.
This decision is in line with the Group's transformation plan and, in accordance with the agreement's terms, all the employees will be integrated into AIAC.
By joining AIAC, an industrial holding company that currently owns 20 companies in 13 countries and maintains a strong presence in France, VHET will be in an optimal position to ensure its growth. From now on, the company will market its products and services under the "Neotiss" brand.
Founded in 1976, VHET, whose consolidated revenue stands at approximately €100 million, specializes in producing titanium and stainless steel welded tubes for secondary systems in conventional and nuclear power plants as well as for the desalination, chemical, industrial and automotive markets.
VHET employs 600 people across five production sites worldwide: Venarey les Laumes in France (Burgundy), Morristown in the United States (New Jersey), Hyderabad in India, and two sites in Changzhou, China. In addition, the company employs 100 people at two joint ventures in Korea and China.
BRAEDEN ENGINEERING AND CONSULTING LLC
Braeden Engineering and Consulting LLC, a leading engineering and construction firm, has announced the introduction of its new Digital Charting System 1200 series (DCS-1200).
The DCS-1200 records and charts data collected from various types of sensors and performs tests based on parameters input by the user. While this technology has a multitude of uses including measuring temperature, torque, pH and more, its initial primary function is performing pressure tests.
The DCS-1200 package includes 12.1" touch panel PC equipped with Windows 7 Prof OS and our customizable user-friendly charting software capable of displaying multiple charts with multiple pens and simultaneously running tests based on parameters set by the user.
This fully customizable software and hardware package is built for purpose. The UPS and battery system allow for hours of mobile operation in the field when power sources are not available. This mobile system is encased within a rugged carrying case with wheels and tow-handle for easy transport. Test reports are fully customizable by the user and are presented in PDF format for easy printing and transferring; data logging and archiving is also integrated.
SUPERIOR DRILLING PRODUCTS, INC.
Superior Drilling Products, Inc. a designer and manufacturer of drilling tool technologies, and Drilling Tools International, Inc. announced the execution of a distribution agreement, establishing DTI as the exclusive distributor of SDP's patented Drill-N-Ream® well bore conditioning system in North American onshore and offshore markets, excluding the Rocky Mountain region. The Drill-N-Ream is a unique reaming assembly technology that both widens and conditions the well bore during the drilling process, eliminating the requirement for a dedicated reaming run.
DTI is a leading provider of downhole tools for the onshore and offshore drilling industry. With nine locations in North America and four international locations, DTI has been providing products and services to the world's most prominent oilfield services and exploration companies since 1984.
In exchange for the distribution rights, DTI has agreed to purchase a minimum operating fleet of
Drill-N-Ream tools in 2016. DTI's exclusive rights to provide the Drill-N-Ream to customers in the distribution territory are dependent upon achievement of certain sales objectives. The agreement is a multi-year agreement and will remain in effect subject to the performance targets being met during the term of the agreement.
FUGRO
Fugro has begun a three-year period of metocean and ice data acquisition as part of the Barents Sea Metocean and Ice Network Project. The data will help operators to better understand relevant operational uncertainties and risk factors in the region known as "The Far North."
The Norwegian Petroleum Safety Authority has recognized that the Barents Sea represents a frontier region for oil and gas exploration and in its guidance states that appropriate measures to mitigate risk should be undertaken.
Statoil is leading a Joint Industry Project (JIP) to gather additional and necessary metocean and ice data in the region. Early acquisition of data in frontier regions is key to reducing risk for operators which, in turn, offers potential cost savings, for example through appropriate selection of drilling assets for the metocean regime, and optimization of the timing of drilling campaigns. There are also numerous advantages to the JIP participants related to data sharing across a frontier region, such as increased understanding of metocean processes and their spatial extent and an extended data pool against which to validate models.
Having successfully worked with Statoil and several of the other JIP participants on a number of complex metocean measurement projects throughout Norwegian waters, Fugro was contracted for the project.
In October 2015 five Fugro-manufactured Wavescan buoys, one current- and water level-monitoring mooring, and five ice thickness and current-profiler moorings were deployed at offshore sites between Hammerfest and Svalbard. The robust Wavescan buoys, which are ideally suited for the conditions of the Barents Sea, are now collecting raw wave, current, meteorological and sea-water parameter data, processing the information and transmitting the summary data via satellite link. Real-time data are then displayed on a project-specific webpage that can be accessed by the client via secure log-in. Data from the current- and water level-monitoring mooring, and the five ice measuring rigs are being stored within the instruments' internal memories for download at service visits, which are scheduled at six-month intervals for the buoys and annually in the open water season for the ice measuring equipment.
The first service visit was undertaken in March/April 2016, following which Fugro processed, analyzed and reported data collected over the first phase of measurements. The final dataset will be produced for the JIP partners upon completion of the measurement campaign in autumn 2018.
OPENLINK
OpenLink, a global leader in trading and risk management solutions for the energy, commodities, corporate and financial services industries, announced today that Superior Plus Energy Services has selected its energy trading and risk management solution.
Superior Plus Energy Services, a business segment of Superior Plus Corp. selected OpenLink to better manage operational efficiency as its US Refined Fuels business reaches more customers. Superior Plus Energy Services has expanded its propane, heating oil, diesel fuel, gasoline and associated equipment and service business through several recent acquisitions, and today serves more than 200,000 Northeast and Mid-Atlantic US residential and commercial customers.
As Superior Plus Energy Services manages organic and acquisition driven growth across the eleven states that they serve, the company selected OpenLink's solution for an integrated approach to physical and financial deal capture with real-time analysis of risk position reporting, logistics, settlement and accounting. Leading US Refined Fuels businesses such as Superior Plus Energy Services are meeting the demands of a competitive market place with technology-driven investments into robust and scalable systems to improve management of purchasing, supply and operating leverage.
GE OIL & GAS
GE Oil & Gas has introduced a series of innovative offshore solutions to lower cost, improve reliability and reduce downtime of offshore operations. The technologies, launched at the Offshore Technology Conference in Houston, underscore the creativity of industry in finding myriad types of solutions to increase efficiencies and reduce costs.
GE Oil & Gas' innovative offshore solutions and customer partnerships introduced include a Rosneft subsidiary to use latest design in new compressor technology, High Pressure Ratio Compression (HPRC) unit. GE Oil & Gas will supply UEC-Gas Turbines JSC, an integrator and supplier of high-efficiency power equipment, with three compressor trains equipped with GE's innovative HPRC units, including gearboxes and dry gas seal consoles. The three trains will be used as part of the reinjection in the BCS Srednebotuobinskoe oil field in East Siberia, Russia, operated by Taas - Yuryakh Neftegazodobycha LLC, a Rosneft subsidiary. The compressors will be manufactured in Florence, Italy. The three trains will be delivered from GE Oil & Gas by December 2016.
GE's HPRC unit, its smallest and lightest compressor yet, requires fewer units per train, significantly reducing overall footprint by up to 50 percent. The HPRC has a shipping weight up to 30-percent lighter and has lower power consumption with 5-percent less installed power. These combined innovations allow for easier installation, increased reliability and reduced operating costs compared to traditional compression trains.
GE Oil & Gas' Flexible Pipe business is undertaking a significant investment to develop and manufacture the next generation of flexible risers by utilizing composite technology to create a 30-percent lighter flexible pipe solution. Composite Flexible Pipe expands the reach of flexible risers and flowlines into deeper waters and more challenging environments while delivering a 20-percent saving on total installed cost.
This light-weight solution is a step-change as global offshore resources shift to more remote locations with extremely complex and demanding conditions. Flexible risers have been fundamental to the development and advancement of offshore exploration by enabling the widespread use of cost-efficient floating production units, enhancing the versatility of subsea layouts and providing benefits around installation and logistics plus effectively handling dynamic motion.
GE Oil & Gas is at the forefront of developing the standards and practices for the incorporation of carbon-fiber thermoplastic composites into flexible pipe. This development incorporates industry-wide collaboration on standards with certification agencies, joint industry projects and GE's leading industrial network of Global Research Centers.
CRAIG INTERNATIONAL
Leading procurement services specialist, Craig International, has launched a 'win-win' platform to help oil and gas companies off-load surplus stock worth billions of dollars and buy products and equipment they need at competitive prices.
Craig Collaboration connects companies looking to sell stock with those looking to buy. Oil and gas companies around the world have billions of pounds of surplus stock, much of it sitting in costly storage and Craig Collaboration will allow them to realize value from this.
A radical shift in procurement in the industry, Craig Collaboration represents a major investment by Craig International in an immediate, collaborative solution towards increasing efficiency. It is already gathering momentum with several major exploration and production companies expected to start using it following its launch.
Craig Collaboration is accessed through a portal and powered by Craig
