The president and chief executive of Qatar Petroleum has called on oil and gas leaders to convert current challenges facing the industry into opportunities for future development.
Oil major BP said the world is no longer at risk of running out of oil and gas for decades ahead of existing technology capable of unlocking global reserves. In its latest technology report the company said energy reserves could be set to double by 2050 despite the high level of consumption currently. The company said when all accessible forms of energy – including nuclear, wind and solar – are taken into account, there is enough resources to meet 20 times what the world will need over that period.
A new study reveals almost half of oil and gas executives believe they have fallen short of their innovation goals in 2015 - nearly twice as many since early 2014.
Statoil and the Norwegian University of Science and Technology (NTNU) have signed an agreement on research funding for future energy solutions. The group, with a total budget of NOK 50million over the next four years, will look to build-up a research group which can help develop sustainable energy solutions. The first move will be to recruit a researcher who can guide the work and build up the research group based at NTNU in Trondheim.
Gas distribution company SGN is expecting to save in the region of £1million by implementing a driver performance improvement programme across its 2,000-strong fleet.
Peak Well Systems has developed a tool which can confirm the minimum diameter specification of well bore tubing with the ability to cover a range of services. The company said FlexiDrift consists of a mandrel with two sets of extendable rails that can be manually extended with ease using the adjustment sleeves to the desired radius of the well tubing. When run downhole, the positioning of the extended rails provides the highest radial contact across the widest operating range of required drift sizes.
Truck driver Craig Huzulak is unemployed after losing his job four times since December -- the new normal in a Canadian oil patch still reeling from a downturn. Huzulak, 49, was working at a mine last year near Fort McMurray, Alberta, when crude prices plunged and work dried up. He lost two more positions in the following months and then had a job offer yanked at the end of June before he could even start. In addition to the market rout, the father of two now worries about the self-driving trucks Suncor Energy Inc. is rolling out in its oil-sands mining operations that will replace workers like him to save companies money. “It’s really, really hard for heavy-equipment operators,” said Huzulak, who has driven trucks and worked on drilling rigs in Western Canada for 15 years. “There’s a lot more fear now that this might last longer.”
A team of Scots scientists whose technology has been described as significant as James Watt’s steam engine, have won engineering's top “Oscar”.
Atlantic Offshore Rescue is to unveil the third vessel of its modernisation programme. The standby vessel operator will showcase the Ocean Falcon, which totals £300million, at a ceremony in Aberdeen today. Ocean Falcon is a new H820 design from Havyard Ship Design. It was built and developed in Passai, Spain by Zamakona shipbuilders, in close collaboration with Atlantic Offshore Rescue over an 18 month period.
When emerging technologies and key trends are discussed there is a vast array of suggestions made and debated. They range from wearable technology, 3D printing, bio-computers, through to the "internet of things" and many more.
This will be a challenging year for the North Sea but the necessary austerity may create a new appetite for near-to-market technologies. The average cost of bringing oil to the surface globally is around $7 a barrel, in the North Sea the average is $28, and in some of our fields it is nearly four times that. As a result, the second half of 2014 was brutal to North Sea operators’ profit and loss accounts with 2015 offering no respite. Operators are prioritising cost efficiencies and reappraising capital programmes, while the supply chain is doing its bit as part of the industry belt tightening.
A multi-disciplinary engineering team at the University of California, San Diego, have developed a new nanoparticle-based material for concentrating solar power plants designed to absorb and convert to heat more than 90% of the sunlight it captures. It is said the new material can also withstand temperatures greater than 700C and survive many years outdoors in spite of exposure to air and humidity. By contrast, current solar absorber material functions at lower temperatures and needs to be overhauled almost every year for high temperature operations.
Subsea demand is strong and getting stronger, with a backlog for orders at the highest level in more than four years for FMC Technologies.
The Industry Technology Facilitator (ITF) will be giving technology developers a platform at Deepsea Offshore Technology (DOT) International to showcase their newest innovations. A technology pavilion will take place with companies able to show off new deep water technologies.
The next generation of scientists and engineers could be encouraged and nurtured at a new centre in Aberdeen. Technology company 3M has opened a Customer Engagement Centre (CEC) in Altens which has been created to help develop innovative ideas across the oil and gas sector.
Independent petroleum company Seven Generations Energy (7G) has struck a hydraulic fracturing deal with Schlumberger Canada.