The board of directors of Statoil proposes to change the name of the company to Equinor. The name change supports the company’s strategy and development as a broad energy company. The name Equinor is formed by combining “equi”, the starting point for words…
Iran and Russia signed a deal on the 15th March to develop two oilfields in Iran. The National Iranian Oil Company signed a deal with Russia’s Zarubezhneft to develop the fields, according to SHANA, the news site of the Iranian oil ministry. ‘This is…
Philippines Energy Secretary Alfonso Cusi and Chinese company CIMP have jointly declared an oil field in Alegria in southern Cebu to be commercially viable, with reserves of oil and natural gas which could last until 2037. The Department of Energy (DOE) and service contractor…
SDX Energy Inc has encountered 151 feet of net heavy oil pay across the Lower Miocene age Yusr and Bakr formations, with an average porosity of 18%. The Rabul 5 well is first of two development wells the company is drilling in the West…
Haliade-X brings higher value to customers by producing more energy from the wind with a 12 MW generator rating, an industry-leading capacity factor 1 and advanced digital capabilities US$400 million programme will fund engineering, testing and supply chain development over the next three to five…
GSP to drill three wells in Prinos area offshore Greece Energean Oil & Gas has awarded GSP an EPCI and drilling contract for the production expansion programme at the Prinos concession offshore western Greece. The newly launched Epsilon field development will comprise an unmanned…
The report, now available on ASDReports, “Drilling Tools Market by Type (Drill Bits, Drilling Tubulars, Drilling Motors, Drill Reamers and Stabilisers, Drill Collars, Drill Jars, Drill Swivels, Mechanical Thrusters), Application (Onshore and Offshore), and Region – Global Forecast to 2022”. The drilling tools market…
The North Sea is now back to a ‘new normal’ but we are never likely to go back to the heyday of 2014, according to Kevin Swann, Wood Mackenzie (WoodMac) UK upstream research analyst. “Cost cutting has been widespread with an average reduction of…
Platts has reported that Iraq plans to launch a new Basrah Medium crude oil grade “whenever logistics allow,” to provide “more stability” in existing grades. It quotes Ali Nazar al-Shatari, the Deputy Director General of the State Oil Marketing Organization (SOMO) as saying the new…
Ecuador has launched a bidding round for foreign companies to develop oil and gas reserves, hoping to attract some US$800 million in investment to boost production in the Andean nation’s sluggish economy. Winners will operate four oil fields in Ecuador’s eastern Amazon region and…
