DENVER, Colorado – The hectic pace of the international exploration industry and the rise of computer intensive big data is leading companies to take a closer look at cloud computing. Leo Reiter of Nimbix, a provider of cloud-based high-performance computing infrastructure and applications, delivered a presentation on cloud computing to industry representatives on the opening day of the SEG’s annual conference in Denver.
STOCKHOLM, Sweden -- Lundin Petroleum, through its wholly owned subsidiary Lundin Norway AS, has announced that drilling of exploration well 6405/12-1 in PL584 has commenced.
SAN DONATO MILANESE -- ENI has made a new important oil discovery in the Minsala Marine exploration prospect, located in the Marine XII Block, offshore Congo, 35 km from the shoreline and 12 km from the recent Nené Marine discovery.
STOCKHOLM, Sweden -- Lundin Petroleum, through its wholly owned subsidiary Lundin Norway, announced that drilling of exploration well 25/10-12S in PL625 has commenced.
PARIS -- EnQuest has awarded Technip, engineering, procurement, installation and construction (EPCI) contract for the Kraken development located in the North Sea, 400 km north-east of Aberdeen and 130 km east of Shetland, at a water depth of approximately 120 m.
TURKU, Finland -- Deltamarin announced that it has entered into a contract with Jurong Shipyard for the basic engineering of the Libra FPSO. Deltamarin’s scope of work covers the marine part of the Navion Norvegia shuttle tanker conversion into the Libra FPSO.
FRANCE -- Sercel has recieved the order for ten Nomad 65 Neo, Sercel’s new broadband vibrator, by PanAmerican Geophysical.
DENVER, Colorado -- The technological innovations behind the shale revolution transformed North America’s resource potential and the U.S. economy in the aftermath of the worst financial crisis since the Great Depression, SEG 2014 heard. The breakthroughs behind the U.S. shale boom were among a number of disruptive technologies identified by the McKinsey Global Institute (MGI), the business and economics research arm of McKinsey & Company.
Logan International Inc. has consolidated its tool rental operations, which were previously conducted in several of its operating units, into a single business: Logan Rentals.
BP Plc wrote off $770 million from its investment in an undersea gas block off India’s eastern coast, citing “uncertainty” about benefits flowing from the government’s gas pricing policy.
Hijackings of small oil tankers by armed gangs are increasing in Southeast Asia, home to the shortest sea-trade route between the Middle East and China, even as pirate attacks globally fell for a third year.
West Texas Intermediate gained for a second day after an Energy Information Administration report showed growth in U.S. inventories slowed. Brent climbed.
Everyone in the oil market should stop panicking because crude supply and demand will return to equilibrium, OPEC’s Secretary-General said.
DENVER, Colorado – Acceleware introduced AxFWI, a modular full waveform inversion application for the creation of high-resolution and high fidelity broadband subsurface velocity models, at SEG 2014 in Denver. Full waveform inversion is an advanced and automatic technique that inverts full bandwidth seismic data with the reflected and refracted wavefields for the primary purpose of improving subsurface imaging. AxFWI takes this one step further by increasing accuracy, customizability and speed.
AMSTERDAM – At the concluding ceremony of the SPE ATCE, 2014 President Jeff Spath, Schlumberger, passed on the president's gavel to Helge Hove Haldorsen, Statoil, who assumed the organization’s lead role for 2015.
LONDON -- Kenya will need to focus on providing a competitive and stable fiscal environment if it is to fully exploit its offshore gas industry and attract investors ahead of Mozambique and Tanzania, says an analyst with research and consulting firm GlobalData. Reece Straker, GlobalData’s Upstream Oil & Gas Analyst, states that while Kenya is currently behind Tanzania and Mozambique in terms of discoveries, exploration interest has increased since Tullow’s first offshore discovery at block L8, announced in September 2012.
PARIS (Bloomberg) -- Total SA wants to have alternative financing by the middle of next year for a $27 billion Russian natural gas project, continuing its former CEO’s support for developing energy production in the country despite international sanctions.
OSLO, Norway (Bloomberg) -- Statoil ASA may cut investment plans for the two next years after the sale of assets from the North Sea to Azerbaijan reduced the spending commitments of Norway’s biggest energy company.
LONDON (Bloomberg) -- Shale oil drillers will be hurt by the fall in crude prices before members of OPEC because their costs are higher, according to the group’s Secretary-General. As much as 50% of tight oil output will be “out of the market” at current prices, while the Organization of Petroleum Exporting Countries is not in a critical situation, Abdalla El-Badri said Oct. 29 at the Oil & Money conference in London.
PARIS -- CGG has announced the release of PowerLog Frac, a new tool to petrophysically analyze well log data and directly feed results into fracture simulation software. Completions engineers use the resulting models to design better hydraulic fracturing projects and improve well performance. PowerLog Frac is a new and intuitive petrophysics-based software, which generates formatted rock and fluid properties to allow engineers to run multiple frac scenarios with increased accuracy in hours instead of days by eliminating manual calculations and spreadsheets.