Is data the answer to a billion dollar question?
Downtime caused by critical system failures continues to be a key challenge for the oil and gas industry, estimated to cost the UKCS more than US$1 billion a year in lost production.
Browse the latest digital oilfield news news and articles.
Downtime caused by critical system failures continues to be a key challenge for the oil and gas industry, estimated to cost the UKCS more than US$1 billion a year in lost production.
AGR, the well design and drilling project management firm, has agreed to host its iQx software on the platform, which contains information that is vital to companies selecting locations of wells.
The digital twin models will be connected to the Mad Dog 2 facility-integrated control and safety systems to create a realistic simulation environment.
An integrated operations support centre and a drilling operations centre will help reach Statoil’s ambition of increasing value creation from operated fields in Norway by more than US$2 billion from 2020 to 2025 before tax.
Cutting the US deepwater royalty rate from 18.75% to 12.5% for new leases, as proposed by the US Royalty Policy Committee in its meeting on February 28, would significantly improve the attractiveness of the country’s fiscal regime, according to GlobalData, a leading data and analytics company.
This end-to-end offering unlocks the power of two industry leaders to deliver improved profitability and operational excellence to maximise return on capital.
Following the partnership formed by GE and Noble Corporation plc, the two companies launched the world’s first digital drilling vessel, targeted to achieve 20% operational expenditure reduction across the targeted equipment and improve drilling efficiency.
The survey of energy professionals and management also reveals that sector pay has increased modestly in the past year, while over half of those surveyed would consider moving to another sector.
Aker Solutions agreed on a long-term collaboration with software company Cognite to accelerate the development of digital solutions that will drive major efficiencies through the entire life of an energy asset.
Recent developments bring new capabilities within each individual solution while offering increasingly integrated workflows from geology and geophysics to reservoir engineering.
Production optimisation software now available for gas-lift and ESP systems.
Offshore Oil and Gas digitalisation software provider and systems integrator, Eigen, is delivering a new Barrier Status Panel to improve the management of operational safety on Goliat.