UK's Hunting maintains annual forecast despite H1 profit increase
Hunting Plc, a British energy services company, posted a 23% increase in its first-half profits on Thursday. The firm attributed the jump to a robust order book for its oil and subsea businesses. However, it maintained its earnings forecast. The shares of the company fell up to 7.7% during morning trading, but pared some of their losses by 739 GMT. They were now only down 2.3% at 419 pence each. Jim Johnson, CEO of the company, said that the OCTG product group…
Tendeka Launches FloFuse
Independent global completions service company Tendeka said it has launched a new technology that increases oil recovery by improving injected water conformance in fractured reservoirs or by ensuring effective placement of matrix stimulation acids.When installed across a segmented wellbore, FloFuse autonomously chokes back injection into thief zones or large fractures that dominate the outflow profile and ensures effective injection into the rock matrix or fracture structure.
Kuwait Signs LNG Import Deal With Shell
Kuwait Petroleum Corp. (KPC) has signed a 15-year liquefied natural gas import deal with Royal Dutch Shell Plc to help the oil exporting nation meet growing domestic energy demand. A report in Bloomberg said that the sales purchasing agreement with Shell International Trading Middle East Ltd. will start in 2020. The contract will cover 2 million to 3 million metric tons of LNG a year. The volumes delivered under the contract will be used to fire up KPC’s power stations.
Tendeka Wins Lower Completion Contract in Middle East
Tendeka has been awarded a project to supply the Kuwait Oil Company (KOC) with its Inflow Control Device (ICD) technology which will enhance production through more effective reservoir management. The multimillion-pound deal will involve Tendeka installing Advanced ICD equipment in 55 horizontal wells over two years in Northern Kuwait. Tendeka will perform reservoir simulations for each well, working closely with KOC to ensure optimum reservoir performance.
Kuwait Tackles Another Offshore Oil Spill
Major oil exporter Kuwait is dealing with another crude oil spill off its southern coast, state news agency KUNA said on Monday, the latest in a series of unexplained leaks in the Gulf Arab state in recent months. KUNA said the latest spill has been detected in the Ras al-Zour area, where Kuwait National Petroleum Company (KNPC) is building the Middle East's largest oil refinery with a capacity of 615,000 barrels per day at a cost of $11.5 billion in contracts.
OPEC Secretary General meets with Emir of Kuwait, Kuwaiti Officials
His Highness Sheikh Sabah Al-Ahmad Al-Jaber Al-Sabah, the Emir of State of Kuwait, on November 6 met with His Excellency Mohammad Sanusi Barkindo, Secretary General of the Organization of the Petroleum Exporting Countries (OPEC) in Bayan Palace, Kuwait City. HH Sheikh Sabah reaffirmed Kuwait’s longstanding belief in the role of OPEC in helping the oil market maintain stability on a sustainable basis for the benefit of producers and consumers alike.
Amec FW Bags Kuwait FEED Deal
Amec Foster Wheeler announces today that it has been awarded a front end engineering design (FEED) contract by Kuwait Oil Company (KOC) to upgrade its Oil Gathering Centre GC-24. This project continues Amec Foster Wheeler’s work with KOC on major projects since 2004, which has recently included three new Gathering Centres and strategic pipeline projects in North Kuwait. Kuwait Oil Company is one of our key customers and this further…
Union Leader Says Kuwait O&G Workers Strike on Course for Sunday
A Kuwaiti labour union leader said on Wednesday plans for a strike by thousands of workers at state-owned oil, gas and petrochemical companies starting next week were in place, denying reports that negotiations were under way. Acting oil minister Anas al-Saleh said on Wednesday that talks were proceeding between the government and unions to avert the strike, due to start on Sunday over plans to cut some of the workers' benefits and wages.
Schlumberger Debuts Real-Time Downhole Flow Measurement Service
HOUSTON, March 23, 2016—Schlumberger today introduced the ACTive Q* CT real-time downhole flow measurement service, which delivers real-time injection diagnostics and treatment evaluation in just one run in a well. “Fluid injection monitoring and placement often requires customers to reach conclusions through trial and error or time-consuming logging operations,” said Amerino Gatti, president, Well Services, Schlumberger. “With the ability to measure pressure…
Saipem Awarded $250mln Drilling Contracts
Italian oil and gas industry contractor Saipem informs it has been awarded new onshore drilling contracts in the Middle East and South America, cumulatively worth approximately $250 million. These include two key contracts awarded by Kuwait Oil Company, the Kuwaiti national oil company, as part of its ambitious plans to develop the country’s oil resources. The contracts have a duration of five years plus an option to extend for a further 12 months and encompass the supply of two 3,000HP deep-drilling rigs for operations in Kuwait.
ITF’s GCC Members Agree for Technology JIP Roadmap
The Industry Technology Facilitator’s (ITF) Gulf Cooperation Council (GCC) members have, for the first time, agreed to take forward three technology challenges with the aim of defining a call for proposals for collaborative joint industry projects (JIPs) later this year. ITF’s GCC Members’ Summit was hosted by Abu Dhabi National Oil Company (ADNOC) earlier this month at its Nation Towers Offices. Representatives from ADNOC, Kuwait…
Middle East State Spending Throws Lifeline to Oilfield Services
Oil majors may have slashed capital spending but national oil companies (NOCs) in the Middle East and North Africa show no sign of cutting investment, buoying oilfield services that the stock market has beaten down. Investors sold in the second half of 2014 as benchmark fuel prices sank, expecting a dire performance from a sector reliant on investment in oil and gas projects for its revenues. Names such as Saipem and Subsea 7 notched…
Middle East State Spending Buoys Oilfield Services
MENA states have no option but to keep spending; Some OFS companies see strong bid pipeline for 2015. Oil majors may have slashed capital spending but national oil companies (NOCs) in the Middle East and North Africa show no sign of cutting investment, buoying oilfield services that the stock market has beaten down. Investors sold in the second half of 2014 as benchmark fuel prices sank, expecting a dire performance from a sector reliant on investment in oil and gas projects for its revenues.
SPE Awards DNV GL For Its Contribution To Asset Integrity
DNV GL has been recognised by the Society of Petroleum Engineers (SPE) as the organisation that has contributed most to asset integrity in the Middle East at the 2014 SPE Asset Integrity Workshop entitled “Changing the Culture, Raising the Bar” held on 13-14 May in Abu Dhabi. "It is a great honor and a privilege to have been given this SPE award for the best ‘Company Contribution to Asset Integrity in the Middle East’. Asset integrity is in the DNA of DNV GL…
LUX Assure Strengthens Middle East Ties
Oil and gas asset integrity and corrosion management firm LUX Assure has grown its presence in the Middle East with the appointment of two regional agents as well as a new business development manager. The chemical monitoring specialist has partnered with Middle East Oilfield Services (MEOFS), a Kuwait-based technology services company that will act as a sales agent both promoting and assisting with deployments in Kuwait. MEOFS works in Kuwait as a technology service provider to the upstream and downstream sectors.
