Datuk George Ling Kien Sing, drilling division advisor for Petronas Carigali, sat down with DC publisher/editor Mike Killalea at the 2012 IADC Drilling HSE Asia Pacific Conference in Singapore on 25 April for an exclusive video to talk about how Petronas is working to accelerate capability development of its employees, an initiative to work with a university to develop a master’s degree program for drilling, and how IADC and its members in the Asia Pacific can collaborate with Petronas to share ideas and improve performance.
Thursday, May 10, 2012
Petronas works on capability development, master’s program for drilling
Posted on 08 May 2012 http://www.drillingcontractor.org/wp-content/jw-flv-player/player.swf?file=http%3A%2F%2Fwww.drillingcontractor.org%2Fwp-content%2Fuploads%2F2012%2F05%2Fvideo-petronas-05042012.flv
Fit-for-purpose rigs, unconventionals drive Statoil production goals
By Joanne Liou, editorial coordinator
Statoil is directing its fit-for-purpose rig fleet and technology strategy to help reach a production goal of more than 2.5 million boe/day by 2020, up from 1.9 million boe/day in 2010. Noting recent successes in increasing the average oil recovery rate from Statoil-operated fields from 49% to 50%, the company wants to push that percentage even higher, Karl Johnny Hersvick, Statoil senior vice president of technology excellence, stated. The company outlined its growth strategy in a series of press conferences at the 2012 OTC last week in Houston.
Jon Arnt Jacobsen, chief procurement officer at Statoil, and Oystein Arvid Haland, senior vice president drilling and well, discussed their company’s shift from fixed platforms to using mobile rigs to drill subsea wells. In collaboration with Aker Solutions, Statoil’s Category B rig is under construction, with delivery of the first unit expected in the second half of 2015. The rig design fills the gap between light intervention vessels (Category A, which has been in operation since 2003) and conventional rigs (Category C), according to Statoil. The rig is designed to improve oil recovery, and its design has been optimized for heavy intervention and light drilling in existing wells.
A Category D rig, targeted for mid-water production operations, also is under construction and expected to be delivered in 2014 to 2015, while Category J is designed for shallow waters and harsh environments. The latter is expected to be delivered in 2015 and will provide 20% more cost-effective well construction.
Statoil’s developing rig fleet is compounded with the company’s focus on four areas: seismic imaging and interpretation, reservoir characterization and recovery, efficient well construction, and a “subsea factory.” The subsea factory project involves the development of the Åsgard subsea gas compression by 2015 and acquiring all the necessary elements for a subsea process facility on the seabed to accelerate production. “Our mission is that technology connected to (reservoir recovery) will contribute to increase an additional 1.5 mboe/d by 2020,” Siri Espedal Kindem, senior vice president of research and development, said. “Just as important is a step-change in well construction efficiency. We have a clear ambition ahead to reduce the time we spend on well construction by 30% and 15% in spending.”
Statoil currently has about 3,000 employees working on 300 increased-oil-recovery projects. In August, the research and development division will become the research, development and innovation division, Mr Hersvick stated. “It’s a concrete measure to get our hands on more good ideas, to push recovery rate even further. We cannot compete with supermajors of this world when it comes to funds and resources, but we can and we will compete when it comes to innovation.”
Statoil expects 12% of its portfolio to come from North American unconventionals by 2020, Torstein Hole, senior vice president of development production North America – US onshore, said.Moving onshore, Statoil expects 500,000 million boe/day to come from North American unconventionals by 2020, Torstein Hole, senior vice president of development production North America – US onshore, said. The company’s strategy for growth in US shale plays is founded in its presence in the Marcellus, Eagle Ford and Bakken, with the Eagle Ford paving the way for Statoil’s operatorship. Statoil entered a 50/50 joint development agreement with Talisman in 2010. With 165,000 net acres and 12 rigs currently drilling, the play has produced about 640 million boe to date. Statoil is positioned to become operator within that play by the end of 2013.
Baker Hughes Extends Exchange Offer for Senior Notes Due 2021
HOUSTON, May 3, 2012 /PRNewswire/ -- Baker Hughes Incorporated (NYSE: BHI) announced today that it has extended the expiration date of its offer to exchange up to $750 million aggregate principal amount of its 3.20% Senior Notes due 2021 (the "New Notes") that have been registered under the Securities Act of 1933, as amended, for an equal amount of its outstanding 3.20% Senior Notes due 2021 or that have not been registered under the Act (the "Old Notes").
As a result of the extension, the exchange offer is now scheduled to expire at 5 p.m., Eastern time, on May 10, 2012, unless further extended. The exchange offer was originally set to expire at 5 p.m., Eastern time, on May 3, 2012. As of this date, tenders of approximately $747,190,000 aggregate principal amount, or 99.63%, of the Old Notes have been received pursuant to the exchange offer. Except for the extension of the expiration date, all of the other terms of the exchange offer remain as set forth in the exchange offer prospectus, dated April 5, 2012.
This news release is not an offer to exchange the New Notes for the Old Notes or the solicitation of an offer to exchange, which we are making only through the exchange offer prospectus.
Copies of the prospectus and letter of transmittal may be obtained from the following:
By Registered or Certified Mail
The Bank of New York Mellon Trust Company, N.A.
c/o The Bank of New York Mellon Trust Corporation
Corporate Trust Options -- Reorganization Unit
101 Barclay Street, Floor 7 East
New York, NY 10286
Attention: Diane Amoroso
By Overnight Delivery
The Bank of New York Mellon Trust Company, N.A.
c/o The Bank of New York Mellon Trust Corporation
Corporate Trust Options -- Reorganization Unit
101 Barclay Street, Floor 7 East
New York, NY 10286
Attention: Diane Amoroso
By Hand Delivery
The Bank of New York Mellon Trust Company, N.A.
c/o The Bank of New York Mellon Trust Corporation
Corporate Trust Options -- Reorganization Unit
101 Barclay Street, Floor 7 East
New York, NY 10286
Attention: Diane Amoroso
Eligible institutions may make requests by facsimile at (212) 298-1915 and may confirm facsimile delivery by calling (212) 815-2742.
Baker Hughes is a leading supplier of oilfield services, products, technology and systems to the worldwide oil and natural gas industry. The company's 58,000-plus employees today work in more than 80 countries helping customers find, evaluate, drill, produce, transport and process hydrocarbon resources. For more information on Baker Hughes' century-long history, visit www.bakerhughes.com.
This news release contains forward-looking statements as defined under federal securities laws. These forward-looking statements involve certain risks and uncertainties and actual results could differ materially. Baker Hughes undertakes no obligation to publicly update or revise any forward-looking statement.
SOURCE Baker Hughes Incorporated
Baker Hughes Releases JewelSuite 2012 Reservoir Modeling Software
HOUSTON, TEXAS (Apr. 30, 2012) – Baker Hughes announces the release of JewelSuite™ 2012, the latest version of the global oilfield service company’s reservoir modeling software that makes it simple for operators to evaluate potential sweet spots and analyze thousands of wells.
JewelSuite 2012 reservoir modeling software now offers enhanced functionality with a complete workflow for unconventional plays. An ongoing dialogue with current Baker Hughes customers assisted in the development of the newest version of JewelSuite. The 2012 software improves the understanding of unconventional plays with integrated 3-D models that enable visualization of all relevant datasets.
The software now includes Blue Marble Geographics’ GeoCalc™ coordinate transformation library ensuring correct well placement and offers a workflow for unconventional plays that enables sweet spotting from regional models to detailed reservoir or well models. Users can easily analyze sector models and run different production scenarios. The ability to study a smaller subsection without recreating the model allows for the comparison of different sweet spots quickly, as well as a juxtaposition of the impact different fracture plans may have.
JewelSuite 2012 also offers improved performance and usability. It can handle very large data sets and allows customers to view and analyze thousands of wells at once. Additionally, JewelSuite provides improved efficiency through enhanced connectivity to Computer Modelling Group’s IMEX™ and GEM™ reservoir simulators, also using Tartan and LGR gridding. This allows for the analysis and optimization of detailed flow behavior around the wellbore and its fracture stages.
The latest version of JewelSuite also incorporates enhanced Multi Point Statistics through a more intuitive interface with faster run times, and enables batch processing of property modeling. The latest software offers a significant step to helping operators develop the tailored plans they need in today’s unconventional plays.
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Baker Hughes is a leading supplier of oilfield services, products, technology and systems to the worldwide oil and natural gas industry. The company’s 58,000-plus employees today work in more than 80 countries helping customers find, evaluate, drill, produce, transport and process hydrocarbon resources.
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View All Reservoir Development ServicesBaker Hughes Introduces Rigless Intervention System
HOUSTON, TEXAS (May 2, 2012) – Baker Hughes’ new mechanized, self-pinning rigless intervention system, Mastiff™, provides operators an alternative method for carrying out pipe installation and retrieval operations, which typically require a costly offshore rig. By eliminating the need for a rig, the Mastiff Rigless Intervention System (RIS) can reduce the cost of abandonment, workover and drive pipe pre-installation operations.
The Mastiff RIS’ modular design and light weight make it ideal for operations on platforms with limited load capacity and is easily deployed worldwide. With a maximum weight of 24,000 pounds (10886 kg), each RIS module can be transported in a standard 40-foot (12-meter) open-top container.
The Mastiff RIS has a self-pinning mast erection system that improves safety and enables the unit to be rigged up or rigged down in 24 to 48 hours. Hydraulics built into the system enable the modular components to be assembled and disassembled using a hydraulic, self-pinning design, eliminating the need for riding belt operations, and dramatically reducing risks associated with working at height and manual handling of components. The system’s sturdy mast enables safe operation at wind speeds of up to 50 mph (43.5 knots).
The system has a 352-ton pulling capacity. While performing conductor pipe removal, the Mastiff RIS can support cutting and pulling lifts of 50-foot sections of 36-inch conductor pipe, inner casing and cement, a significant improvement over casing jack systems, which work with 5-foot sections.
As an alternative to well abandonment, the Mastiff RIS can be used to initiate a slot recovery program for continued field development prior to the arrival of the drilling rig. Once the pipe is removed, the well slot can be prepared for a new, full-sized wellbore using a full-range of equipment from drive-pipe whipstocks to hammer services, saving valuable rig time and offering the operator the option to further redevelop assets.
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Baker Hughes is a leading supplier of oilfield services, products, technology and systems to the worldwide oil and natural gas industry. The company’s 58,000-plus employees today work in more than 80 countries helping customers find, evaluate, drill, produce, transport and process hydrocarbon resources.
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