Tuesday, 31 March 2015

ExxonMobil Begins Production at Hadrian South in Gulf of Mexico - 31/03/2015

ExxonMobil Begins Production at Hadrian South in Gulf of Mexico


  • Gross daily production to reach approximately 300 million cubic feet of gas and 3,000 barrels of liquids
  • ExxonMobil net daily production from Hadrian South and Lucius to reach more than 45,000 oil-equivalent barrels
  • Facilities tie into Anadarko-operated Lucius project reducing the need for additional infrastructure

Dateline:
IRVING, Texas

Public Company Information:
NYSE:XOM

IRVING, Texas--(BUSINESS WIRE)--Exxon Mobil Corporation (NYSE:XOM) announced today it began production in the deepwater Gulf of Mexico at Hadrian South with facilities tied back to the nearby Lucius project, reducing additional infrastructure requirements.

Daily gross production from Hadrian South, ExxonMobil’s deepest subsea tie-back in nearly a mile and a half of water, is expected to reach approximately 300 million cubic feet of gas and 3,000 barrels of liquids from two wells.

Hadrian South is a subsea production system with flowlines connected to the Anadarko-operated Lucius truss spar, which started production in January. With the startup of Hadrian South and Lucius, ExxonMobil’s total Gulf of Mexico net production capacity has increased by more than 45,000 oil-equivalent barrels per day. ExxonMobil holds a 46.7 percent interest in Hadrian South and a 23.3 percent interest in Lucius.

“Successful deepwater projects like this are a result of ExxonMobil’s disciplined project execution capabilities and commitment to developing quality resources using advanced technology,” said Neil W. Duffin, president of ExxonMobil Development Company.

“Cooperating closely with Lucius operator, Anadarko, has facilitated the development of a deepwater resource that may not have been possible using a standalone approach,” Duffin said. “Developing Gulf of Mexico oil and gas resources creates jobs, generates revenue and supports American energy security.”

Hadrian South is located approximately 230 miles offshore in the Keathley Canyon area of the Gulf of Mexico in about 7,650 feet of water. The discovery well, Hadrian-2, was drilled in 2008 and the appraisal well, the Hadrian-4 sidetrack, was completed in 2009.

ExxonMobil operates Hadrian South; co-venturers Petrobras and Eni hold 23.3 percent and 30 percent, respectively.

Hadrian South adds to ExxonMobil’s Gulf of Mexico production operations, where the company has produced oil and gas for more than 60 years.

CAUTIONARY STATEMENT: Statements of future events or conditions in this release are forward-looking statements. Actual future results, including project plans, schedules, and capacities and production rates, could differ materially due to changes in market conditions affecting the oil and gas industry or long-term oil and gas price levels; political or regulatory developments; reservoir performance; technical or operating factors; and other factors discussed under the heading "Factors Affecting Future Results" in the Investor Information section of our website (www.exxonmobil.com) and in Item 1A of our most recent Form 10-K. References to quantities of gas and liquids include volumes that are not yet classified as proved reserves under SEC rules but that we believe will be produced in the future. The term "project" as used in this release does not necessarily have the same meaning as under any government payment transparency reporting rules.

Monday, 30 March 2015

Save the Date with OGS & Inside Oil & Gas! - 30/03/2015

Save the Date with OGS & Inside Oil & Gas!


Join Arab Oil & Gas (OGS) 2015 in conjunction with WETEX 2015 taking place between the 21st & 23rd April 2015.

Supported by the Supreme Council of Energy and Dubai Electricity and Water Authority (DEWA)




A Few Energy Facts from the UAE - 30/03/2015


A Few Energy Facts from the UAE

Follow the latest changes in the oil & gas industry in the Middle East and the downstream sector at The Arab Oil & Gas (OGS) 2015 in conjunction with WETEX 2015. Join the experts today http://www.ogsonline.com/visitor_registration.php


Analysis of the 2014 Arab Oil & Gas Show - 30/03/2015


Analysis of the 2014 Arab Oil & Gas Show

Join the 19th edition of The Arab Oil & Gas (OGS) in conjunction with the Water, Energy, Technology and Environment Exhibition (WETEX). Register here for free http://www.ogsonline.com/visitor_registration.php


Friday, 27 March 2015

Drilling permit for well 15/6-13 in production licence 029 B - 27/03/2015

Drilling permit for well 15/6-13 in production licence 029 B

The Norwegian Petroleum Directorate has granted Statoil Petroleum AS a drilling permit for well 15/6-13, cf. Section 8 of the Resource Management Regulations.
Well 15/6-13 S will be drilled from the Songa Trym drilling facility in position 58°36’55.51’’ north 01°45’40.49’’ east near the Gina Krogh field in the central North Sea.

The drilling program for well 15/6-13 concerns the drilling of a wildcat well in production licence 029 B. Statoil Petroleum AS is the operator with an ownership interest of 50 per cent. The other licensees are Total E&P Norge AS and Det norske oljeselskap ASA with 30 and 20 per cent, respectively.

The area in this licence consists of part of block 15/6. Production licence 029 B was awarded on 11 May 2001 after being partitioned off from PL 029, which was awarded in the 2nd licensing round in 1969. This is the second wildcat well to be drilled in the licence, but wildcat wells have previously been drilled within the area covered by this licence.

The permit is contingent upon the operator having secured all other permits and consents required by other authorities before the drilling starts.

Polarled pipe-laying - 27/03/2015

Polarled pipe-laying

On 26 March, the Solitaire pipe-laying vessel started on the first stage of the Polarled installation project. The 482-kilometre long pipeline will transport gas from the Aasta Hansteen field in the Norwegian Sea to Nyhamna in western Norway.

Statoil is operator during the development of the Polarled project and therefore responsible for laying the pipeline between Aasta Hansteen and Nyhamna. As operator for the gas plant, Shell is responsible for preparing the Nyhamna processing plant for gas reception.
“I am pleased to note that the pipeline is now connected to the Nyhamna processing plant. The pipeline pull-in to Nyhamna is an important milestone to the project and the Polarled licensees,” says Håkon Ivarjord, MPR’s project venture manager.

World record

The gas pipeline will be laid in water depths of up to 1265 metres. Even though smaller pipelines have been laid in waters exceeding this depth, this is the first time a gas pipeline measuring 36 inches in diameter is being installed at such water depth.

“When the pipeline is laid, we will install an end manifold with connection points for Aasta Hansteen and any future fields. Six T-joints on the pipeline for any further connections are also a unique feature of Polarled,” says Alfred Øijord, PRO’s project manager for Polarled.

Considerable cost reductions have so far been made by the Polarled Pipeline Project compared to the initial PAD estimate, as the company has obtained lower prices from the suppliers than originally calculated due to synergy effects with other pipeline projects and strict change and cost control.

Strategic

This part of the Norwegian Sea has no infrastructure for gas, and efforts have been made over several years to develop various alternative gas transport solutions. The Polarled pipeline is the first pipeline to take the Norwegian gas infrastructure across the Arctic Circle.
“Polarled will have great and strategic impact on the future development of the region. The new pipeline will open a new gas province and stimulate exploration and resource development, which will fortify Statoil’s position as an exporter of gas to Europe,” says Jan Heiberg, acting head of the pipelines and processing unit of MPR asset management.

A pioneer

Aasta Hansteen is one of the largest and most complex industrial projects in Europe, and the first deepwater project in the Norwegian Sea.

The field development will include a so-called Spar platform. It will be the world’s biggest of its kind and also the first platform of this type on the Norwegian continental shelf.

The Polarled pipe-laying operation is scheduled to be completed by the end of August. Nyhamna will be ready to receive Aasta Hansteen gas in 2017. When the pipeline comes on stream, Gassco will be operator for the pipeline and for the Nyhamna gas processing plant.

Thursday, 26 March 2015

Gazprom Board of Directors addresses issue of exchange gas trade development in Russia - 26/03/2015

Gazprom Board of Directors addresses issue of exchange gas trade development in Russia

The Gazprom Board of Directors took notice of the information about the development of the exchange gas trading system. The Management Committee was tasked to proceed with this activity.


It was pointed out that in 2014 well-coordinated gas trading was launched at the St. Petersburg International Mercantile Exchange (SPIMEX). This is an important step for the Russian gas market development. An increase in the volume of exchange trade will provide for introducing market pricing principles as well as shaping up adequate price indicators for gas sold in the domestic market.

In addition, the existing Rules for gas trading at SPIMEX suggest that every trader should conclude a service contract for gas transportation with an authorized company Gazprom Mezhregiongaz Postavka. As a result, Gazprom has to purchase gas transportation services which actually the Company provides itself, creating the tax risks related to the costs on gas transportation and compensating the input VAT.

Gazprom Board of Directors addresses issue of exchange gas trade development in RussiaTherefore, early this year Gazprom had to suspend its participation in gas trading until the situation is resolved. By now, Gazprom has introduced some changes into the system of interaction among the Group’s organizations, mitigating the Company’s tax risks. At present, Gazprom has resumed gas trading at SPIMEX.

Gazprom will continue further improving the regulatory framework governing the operation of the Russian gas market. This includes the issue of amending the Rules for gas trading with a view to fully eliminate all the tax risks for the Company.

ESS picks up 21 medals at 2015 Scottish Culinary Championships - 26/03/2015

ESS picks up 21 medals at 2015 Scottish Culinary Championships

ESS Support Services Worldwide (ESS), part of Compass Group, the world's leading food and support services company, showcased the skill and talent within its offshore teams at the recently held 2015 Scottish Culinary Championships.

ESS had cause to celebrate following the two-day event after winning 21 medals across the 14 categories. These consisted of two golds, 12 silvers, two of which were first in class, six bronze medals and a merit.

This amazing success demonstrates the high calibre of its chefs offshore and the quality of the food they produce within their clients businesses.

Scot Hot also highlighted the strong training and development partnership ESS has with New College Lanarkshire, as a team of the colleges’ aspiring student chefs competed under the guidance and mentorship of Graham Singer, ESS food operations manager.

The competition took place at Scot Hot, Scotland’s biggest food, drink and tourism trade show, at the Scottish Exhibition and Conference Centre in Glasgow at the beginning of March 2015.

ESS Offshore business director Ronnie Kelman said: “Our phenomenal success at this year’s event gives ESS great pride in its people.

“Graham’s commitment to developing the skills of our staff and the students at New College Lanarkshire has been exceptional and this was the stage which showcased it.

“It is our belief that the college partnership will be significant in the development of the next generation of chefs.”

The gold winners were:

• Kayleigh Turner, ESS and New College Lanarkshire, who won gold for her Petit Four entry
• Barry McNairney, ESS and New College Lanarkshire, who won gold for his Restaurant Plates main course

Other winners were:

Petit Fours Category:

• Rachel Michie, ESS Offshore,TOTAL E&P, silver
• Ulai Mawson, ESS Offshore, Maersk resilient, silver

Decorative centrepiece:

• Gordon Mackenzie, ESS Offshore, COSL Rival, silver

Menu Gastronomique:

• Gordon Mackenzie, ESS Offshore COSL Rival, silver
• Robert Flannigan, ESS Offshore,TOTAL E&P, silver - first in class

Bread Display:

• Steve Olbert, ESS Offshore, Alba North, bronze

Restaurant Plates – Fish Course

• Danny McGowan, ESS Offshore & New College Lanarkshire, silver first in class

Floral Sugar Craft

• Stephen Benn, ESS Offshore Safe Boreas, silver

Restaurant Plates – Main Course

• Martin Walker, ESS Offshore, COSL Rival, silver

Pasta Innovation

• John Struzik, ESS Offshore & New College Lanarkshire, bronze

Meat Dish

• Innis Linn, ESS Offshore Prospector 5, bronze
• Ronnie Cleland, ESS Offshore Alba North, silver - second in class
• Gordon Mackenzie, ESS Offshore, COSL Rival, bronze third in class

Scottish Contract Chef of the Year

• Chris McLeod, ESS Offshore, TOTAL E&P, merit

Works in Pastillage

• Ulai Mawson, ESS Offshore, Maersk resilient, bronze
• Laura McNeil, ESS Offshore & New College Lanarkshire, bronze

Scottish Chef of The Year

• Dougal MacPherson, ESS Offshore & New College Lanarkshire, silver - joint third in class

Student Challenge Scottish Tapas

• Natalie McFarlane & Lianne Hallford, ESS Offshore & New College Lanarkshire, silver

Scottish Colleges Culinary Challenges

• Amy Brown & Chloe Robertson, ESS Offshore & New College Lanarkshire, silver

Tuesday, 24 March 2015

Statoil appoints chief operating officer - 24/03/2015

Statoil appoints chief operating officer 

Anders Opedal is appointed executive vice president and takes on a new position as chief operating officer (COO) in the corporate executive committee (CEC) on 1 April.
Opedal will be responsible the corporate improvement programmes and for driving operational efficiency across Statoils business areas.

“I am pleased to announce that Anders assumes this new position in the CEC. He will be a driving force in our effort to further improve the safety and efficiency of our operations. I really look forward to his contribution to develop a highly profitable, competitive and resilient Statoil,” says president and CEO Eldar Sætre.

Anders Opedal comes from the position as senior vice president of projects in Statoil’s Technology, Projects and Drilling business area, where since 2010 he has been responsible for Statoil’s approximately NOK 300 billion project portfolio. Previously he has held a range of positions in drilling and well, procurement and projects. Anders Opedal joined Statoil in 1997 as a petroleum engineer in the Statfjord operations.

“We must prepare for challenging times ahead. Uncertainty and volatility will remain a key part of our business environment. Against this backdrop, I have decided to establish a COO role to drive our corporate-wide efforts to strengthen safe and efficient operations across Statoil. The current line accountability for the safe, efficient and reliable operation of our assets remains unchanged,” says Sætre.

Over the last few years Statoil has continuously improved its safety performance, and the serious incident frequency (SIF) for 2014 was at an all-time low. Statoil started to address the cost and efficiency challenge of the industry well ahead of the downturn in the oil price seen over the last few months. 

The staffs and services project, strong prioritisation of spending levels, organisational efficiency projects in the line (OE), and last but not least the Statoil technical efficiency programme (STEP), are examples of how Statoil have been addressing this fundamental challenge of efficiency and competitiveness.

“The COO will play a key role in the further development of Statoil. I want Anders to lead the process of reviewing the corporate operating model with emphasis on simplification and efficiency,” says Sætre.

Anders has an MBA from Heriot-Watt University and an engineering degree from NTH. He lives in Sandnes, Norway.

Lubbers Logistics Group expands Aberdeen site by double - 24/03/2015

Lubbers Logistics Group expands Aberdeen site by double

Lubbers UK, the international logistics specialist for the upstream oil and gas industry, has expanded its Aberdeen facility as it looks to consolidate its position in the region.  

Lubbers UK, part of Lubbers Logistics Group, has increased both its external yard space and internal office space by double with the outside area growing to almost 7000m2. The yard expansion will allow more trucks and trailers to run from the base.

Nick Latham, Sales Manager at Lubbers Logistic Group commented: “We are thrilled with the results of our Aberdeen base expansion. The modernised, professional space will allow us to better service our clients by increasing capacity and resource availability on a European level, and result in more trucks running from Aberdeen.

“Lubbers UK has seen continued growth over the last few years, including an increased head count in Aberdeen, which was one of the main drivers to expand our facility. We hope to continue developing our wider European routes and see our fleet grow even further in 2015.”

As part of the development, the internal office space has also been enlarged to 300m2 to include a second floor, which features a new boardroom and drivers room. New interactive meeting facilities have been installed as well as high specification security systems. All amenities in the existing floor below have been redeveloped to upgrade the overall space.

The renovation follows an extension of the groups geographic footprint with a new base opening in Istanbul, Turkey earlier in the year. The new facility was launched to allow Lubbers to further support its oil and gas clients in the southern Diyarbakir region of Turkey and also in the Black Sea coastal region.

The company also strengthened its position in 2014 by opening a new base in Ijmuiden in Holland and a container and basket rental service located in Constanta, on Romania’s Black Sea coast.

Ger Engelsman CEO at Lubbers Logistics Group commented: “2015 will undoubtedly see the industry facing more challenging market conditions, however Lubbers is well placed to compete given our strong relationships with clients and by focusing on operating a cost-efficient fleet that fully conforms with the latest environmental legislation.

“We also expect our UK business to maintain its strong performance thanks to our east coast centres in Aberdeen, Newcastle and Great Yarmouth, that enable us to deliver an exceptionally well resourced service to our clients operating in the North Sea.”

Monday, 23 March 2015

International Oil and Gas Summit ‘Continental and Arctic Shelves’ to be held in Dubai - 23/03/2015

International Oil and Gas Summit ‘Continental and Arctic Shelves’ to be held in Dubai

From 15th to 17th April, the summit ‘Continental and Arctic Shelves’ will gather companies from Dubai, Norway, Germany, Iceland, the USA, Nigeria, Japan, Russia and other countries to discuss the key challenges facing the oil and gas community in today’s geopolitical situation. New technologies and alternative ways of development will also be discussed at the Summit which has already attracted the attentions of over 300 representatives from prominent oil & gas companies, government entities, leading service providers and research centres. 

Hosted at the Meydan Hotel, one of the most luxurious hotels in Dubai, the three day event will cover issues including; strategic development prospects, ensuring cost-effectiveness of ongoing offshore projects; offshore exploration and production; offshore well drilling and construction; shipbuilding and shipping; prospects; technologies and an overview of LNG projects

A full list of events and speakers can be found at http://offshoresummit.org. Some of the speakers and their topics are: 
Isaac Ochulor (Nigeria)
Institute of Drilling and Petroleum Engineering, Executive Director
Section: Exploration and Production
Topic: Technical and Economic Issues of offshore drilling

Langtry Meyer (The USA)
Texas LNG, COO
Section: LNG
Topic: On track to supply US LNG to global markets under flexible terms of competitive prices
Chikako Ishiguro (Japan)
Osaka Gas Ltd , Senior Analyst Research and Planning Team
Section: LNG
Topic: Asian (Japanese and Chinese) LNG Market

Khamis Juma Buamin (UAE) 
Section: Shipbuilding and Shipping
Topic to be confirmed

Gudni A. Jóhannesson (Iceland) 
National Energy Authority of Iceland, Director General
Section: Arctic Shelf. New challenges and Prospects
Topic to be confirmed

The format of the Summit includes a congress, a round table discussion and a focus-exhibition of leading international service companies, such as SenseFly, Martechnic GmbH, TECNICOMAR SPA, Clean Marine AS, GS-Hydro OY and ABB.
On April 17th, a special excursion program including the outlook of Dubai offshore fields is organized. The Summit ends with a Gala dinner with live music and an exclusive chefs` specialty menu in the five-star Meydan Hotel.

Organiser: Business Dynamics
Support: The Dubai Council for Marine and Maritime Industries
Travel and Logistics Partner: Alfa Tours
Program Partner: KPMG 
Official Summit website: http://offshoresummit.org

Neo Oiltools’ drilling technology NeoTork mitigates slip-stick and vibrations - 23/03/2015

Neo Oiltools’ drilling technology NeoTork mitigates slip-stick and vibrations

Downhole Technology Cuts Down on Drilling Time and Cost

Luxembourg headquartered Neo Oiltools today announced the launch of its ground-breaking down-hole torque management tool, NeoTork.

NeoTork automatically manages torque generated from the drill bit and mitigates axial and torsional vibrations. As a result it brings down the drilling time, reduces the cost of drilling operations while improving drilling performance.

“It is during times of challenge, such as the one the industry currently faces, that we often see new technologies emerge because service companies need to find ways to differentiate themselves,” said Pascal Bartette, Neo Oiltools CEO. “NeoTork addresses the operators’ challenge to cut costs and improve efficiency while limiting the number of trips that always remain a safety exposure.

“We expect NeoTork to be a very significant step forward for the oil and gas industry,” Mr Bartette continued. “There’s no other product that is as simple to use as NeoTork nor one that provides customers with such good value for their investment. Some have even called it ‘drilling made easy’ which I think sums up exactly what we’ve managed to create.”

The system has been through extensive lab and comparative field tests in its development phase. In the results, vertical vibration dropped by a factor of four and stalling virtually disappeared even with heavy loading (the drill string without NeoTork stalled 15 times). The BHA with NeoTork in place achieved a 40% improvement in the rate of penetration (ROP).

The technology has been designed to ensure that once downhole torque exceeds the preset limit, a system of disc springs and steel cables automatically contracts to reduce the bit depth of cut. The excess torque ‘stored’ in the system is slowly released as the drilling structure drills off. Crucially, the bit remains engaged in the formation at all times so drilling is never interrupted.

NeoTork can be used in a number of industry applications on both drilling rigs, or with coiled tubing in any operation that requires milling, drilling or cutting of material using rotation. It can also be used in specialised operations such as coring, hole enlargement, directional drilling, casing milling and well intervention.

An experienced team of oil and gas drilling professionals are behind the development of NeoTork. Pascal Bartette, Neo Oiltools CEO, is the former CEO of oil services company Reservoir Group, purchased in 2013 by ALS Global. The inventor of NeoTork, Philippe Cravatte, was the Technical Director of the group, has a long history of technology development.

The company is now looking to agree commercial applications for its coiled tubing variant (sizes available from 2 1/8 up to 3 ½ inch). Tools for larger hole sizes, as well as conventional drilling applications, are due to be available from late Q3 2015 for testing.

Friday, 20 March 2015

Terms of Russian natural gas supply to Ukraine regulated by existing contract - 20/03/2015

Terms of Russian natural gas supply to Ukraine regulated by existing contract

A working meeting between Dmitry Medvedev, Russian Prime Minister and Alexey Miller, Chairman of the Gazprom Management Committee took place today.
Meeting between Dmitry Medvedev and Alexey Miller held

The meeting looked at the passing of the autumn-winter period. Alexey Miller reported that Gazprom had steadily supplied Russian and foreign consumers with gas in winter.

Special attention was paid to Russian gas supply to Ukraine. It was pointed out that on March 31 the ‘winter package’ and, accordingly, the gas discount of USD 100 per 1 thousand cubic meters were expiring. The issue of granting a discount falls within the competence of the Russian Government. All the other terms and conditions of gas supply to Ukraine are totally regulated by the existing contract between Gazprom and Naftogaz of Ukraine and addenda to it. There is no need to amend these documents in order to supply gas to Ukraine starting from April 1.

Gazprom website Editorial Board
Verbatim transcript

Dmitry Medvedev: We’ve just discussed our draft energy strategy with you – much remains to be done there. What is the general situation with passing the autumn-winter period in Russia, Mr. Miller?

Alexey Miller: The autumn-winter period is almost over. As for gas supplies to consumers, they were carried out on a regular basis. There were no failures in gas supply to Russian or foreign consumers during this autumn-winter period.

Dmitry Medvedev: That is good. But we have a difficult partner – it’s clear that I’m referring to Ukraine. I’d like to remind you that on March 31 the so-called special winter discount (or a winter discount package) expires; it was granted to the Ukrainian party on its demand after all sorts of consultations involving, among others, our partners from the European Union. What are we going to do next?

Alexey Miller: Mr. Medvedev, the winter package expires on March 31 and, accordingly, on March 31 the one hundred dollar discount on gas supply to Ukraine expires as well. As for the contract terms and conditions, it is the only outstanding issue in relations between Gazprom and Naftogaz of Ukraine.

All the other issues are fully regulated by the existing contract signed in 2009 and all the addenda to it, including those signed after reaching the agreements on the winter package in late October 2014. It concerns working on a pre-paid basis, when Ukraine pays in advance, and only after Gazprom receives the money, we supply gas to Ukraine. So, today all the supply conditions are determined by our contract obligations and there is no need to amend the existing contracts and addenda in order to supply gas to Ukraine starting from April 1. Only the issue of granting a discount remains, but it is for the Russian Government to decide and outside Gazprom’s competence.

Dmitry Medvedev: Here is what I would like to say on the matter. It is evident that from time to time the Ukrainian party comes out demanding price revision or introducing some other mechanisms. There is no doubt that Gazprom should fully adhere to the existing contracts, and it has no legal alternatives. Any other talks on the matter are unfounded, they just represent the wishes or political self-promotion of certain individuals in Ukraine.

As for the discount, it is true that it is granted by the Government, it is our good will. It may be offered only in the amount equal to our export duty, or, putting it straight, not exceeding this export duty: it may be less, I suppose, but it can’t be more. That is why, there can be nothing new about it, but this issue has to be finally settled with our Energy Minister, their Minister and all the interested parties; after that the Government will make a decision, I will compose a final statement and sign it.

Europe and Asia to meet within Football for Friendship international children’s social project of Gazprom - 20/03/2015



Europe and Asia to meet within Football for Friendship international children’s social project of Gazprom

Today Gazprom, the official sponsor of the UEFA Champions League opened the third season of the Football for Friendship international children's social project.
Several major events will be held within the project.
Europe and Asia to meet within Football for Friendship international children’s social project of Gazprom

On April 25 all the participating countries will celebrate the International Day of Football and Friendship.

From June 4 to 7 Berlin will host an international street football tournament and the 3rd Football for Friendship international children's forum. At the end of the event the Forum participants will visit the UEFA Champions League Final 2015 at the Berlin Olympiastadion.

The geography of the third Football for Friendship season will be considerably extended. For the first time young footballers from Asia will take part in the project, and the total number of participating countries will increase from 16 to 24, namely Austria, Belarus, Belgium, Bulgaria, China, Croatia, the Czech Republic, France, Germany, Hungary, Italy, Japan, Kazakhstan, the Netherlands, Poland, Russia, Serbia, Slovakia, Slovenia, Spain, Switzerland, Turkey, Ukraine and the UK.

Europe and Asia to meet within Football for Friendship international children’s social project of Gazprom“Along with other social initiatives of our Company, Football for Friendship is intended to promote harmonious development of the younger generation.

We want to foster children's interest in a healthy lifestyle and an ambition for achieving results by joint efforts. The project hinges on the idea of friendship and respect to other cultures. These simple unshakable values define the social welfare. For us, Football for Friendship is a contribution to the future in the first place,” said Alexey Miller, Chairman of the Gazprom Management Committee.

“It is a pleasure for me to notice that this year Football for Friendship has stepped beyond Europe, and involved China, Japan and Kazakhstan for participation. This is one more proof that the universal human values do not have any borders and are relevant for anybody. 

Boys and girls, who participated in the 1st and the 2nd Football for Friendship Forums entered into the spirit of mutual respect and became ambassadors of ideas of equality and a healthy lifestyle. Their shining eyes were speaking better than words. I'm sure that young athletes, participating in the project, will do their best to make this world better,” said Franz Beckenbauer, the global Ambassador of the project.

Thursday, 19 March 2015

Digitalization the Answer to Low Oil Prices - 19/03/2015

Digitalization the Answer to Low Oil Prices 

‘Low oil prices are going to halt any progress to the digital oilfield’. This would be the obvious answer for many when questioned how declining oil prices would impact oilfield analytics projects.

However, after interviewing major oilfield service companies and operators including Schneider Electric, Rosetta Resources, Baker Hughes and GE the response was quite the opposite.

You can access the full 3000 word oilfield digitalization analysis here: http://bit.ly/digitalization-oilprice

Naturally, oil price volatility has caused a halt to many major CAPEX projects. However, there is overwhelming evidence that data and analytics projects can lead to great cost-savings and optimized production, such as through reservoir simulation and predictive maintenance. For some, now is the time for operators to implement analytics and become better at spotting opportunities to reduce OPEX and increase production.

Do you agree with Schneider Electric, Rosetta Resources, Baker Hughes and GE?

Subsea Flow Assurance – what are the issues? - 19/03/2015

Subsea Flow Assurance – what are the issues?

Adam Minkley (projects director - Upstream Intelligence)  recently spoke with Subsea Flow Assurance (FA) experts from a leading operators and top FA consultancy to identify today’s top FA issues. Flow Assurance problems are costing operators hundreds of millions in Operational Expenditure each year and this market is growing rapidly as exploration moves into deeper water!

To find out what Flow Assurance experts describe as today’s toughest challenges and the new opportunities this provides for the offshore services market, read the article here: http://bit.ly/flowassurance-subsea

Statoil adds acreage in the Gulf of Mexico Central Lease Sale - 19/03/2015



Statoil adds acreage in the Gulf of Mexico Central Lease Sale 

Statoil was the apparent high bidder on 14 leases in the Central Lease Sale.

Statoil announced today that it successfully bid on 14 leases in the U.S. Department of the Interior’s central region Gulf of Mexico lease sale 235, which occurred in New Orleans, LA. 

Bilde
Jez Averty
“The acreage high bid today, completes our ownership of the Monument prospect, brings additional prospects in to our portfolio and strengthens our position in prioritised areas of the US Gulf of Mexico,” says Jez Averty, Statoil’s senior vice president, exploration for North America. 

Statoil's winning bids are subject to review and final approval by the authorities.

Wednesday, 18 March 2015

Offshore production efficiency strategies - 18/03/2015

Offshore production efficiency strategies

As you know, the price of Brent crude is causing considerable concern amongst the world’s operators. Upstream Intelligence wanted to share a complimentary paper discussing 6 revolutionary strategies allowing you to reduce your operational expenditure and deliver innovative approaches to manage your existing offshore assets.

To access the 6 Strategies to Achieve Production Efficiency whitepaper now, go here: http://bit.ly/off-prod-eff

This paper will allow you to:
•    Discover the 6 new strategies you can employ, with a focus on new technologies, enhancing your recovery, reducing downtime and protecting your structures
•    Learn more about well optimization, well interventions, structural integrity management, flow assurance, data and subsea processing techniques that you can incorporate into your existing assets
•    Assess the biggest production efficiency developments with analysis from key industry thought leaders so that you can apply best practices

Strengthening Aasta Hansteen with a new gas discovery - 18/03/2015

Strengthening Aasta Hansteen with a new gas discovery 

Operator Statoil has together with PL218 partners made a gas discovery in the Snefrid Nord prospect in the Norwegian Sea. The discovery is an important contribution to the Aasta Hansteen field development project and Polarled pipeline utilisation.

“The Snefrid Nord discovery increases the resource base for the Aasta Hansteen field development project by around 15%,” says Irene Rummelhoff, senior vice president exploration Norway in Statoil.

The Snefrid Nord discovery is located in the deep-water Vøring area in the immediate proximity of the three gas discoveries comprising the Aasta Hansteen field development: Luva, Haklang and Snefrid South.

The discovery well 6706/12-2, drilled by Transocean Spitsbergen, proved a 105-metre gas column in the Nise Formation. Statoil estimates the volumes in Snefrid Nord to be in the range of 31-57 million barrels of recoverable oil equivalent (o.e.).

Statoil is drilling two exploration wells in the vicinity of Aasta Hansteen in 2015, with the aim of proving upside potential in the area. After completing Snefrid Nord, Transocean Spitsbergen will move to the neighbouring licence PL602 and drill an exploration well in the Roald Rygg prospect.

“Near-field exploration is the main focus of our Norwegian continental shelf exploration programme in 2015. By proving additional timely resources, we extend the production life of our fields and create significant value,” explains Rummelhoff.

Aasta Hansteen will be the largest SPAR platform in the world and is the biggest ongoing field development project in the Norwegian Sea. It is one of the main projects in Statoil’s portfolio. The plan for development and operations (PDO) was approved by the Norwegian Ministry of Petroleum and Energy in 2013. Production start-up is expected in 2017.

“The Snefrid Nord discovery makes the Aasta Hansteen development project more robust and prolongs the Aasta Hansteen production plateau. It will utilise both the Aasta Hansteen and the Polarled gas pipeline capacity,” says Torolf Christensen, Statoil vice president for the Aasta Hansteen project.

“The discovery will now be further evaluated for future tie-in to the Aasta Hansteen infrastructure.”

Exploration well 6706/12-2 is situated in PL218 in the Norwegian Sea. Statoil is operator with an interest of 51%. The partners are Wintershall Norge AS (24%), OMV (Norge) AS (15%) and ConocoPhillips Skandinavia AS (10%).

Tuesday, 17 March 2015

Whitepaper: Floating Structures: ensuring mooring line and hull integrity - 17/03/2015

Whitepaper: Floating Structures: ensuring mooring line and hull integrity

As floating structures become more commonplace in the Gulf of Mexico, ensuring hull and mooring line integrity is now pivotal. Questions still remain around inspection times and the best approaches to monitoring. 

The complimentary Floating Structures: Strategies for Continued Service whitepaper is now available for download to answer some of these major issues: http://bit.ly/floatingstructures

The whitepaper will give you exclusive insight into:
•    Approaches to ensure mooring line integrity- establish how you can avoid mooring systems failure through innovative ways to monitor, inspect and utilize software
•    Strategies for maintaining hull integrity- learn how you can detect and address corrosion issues to reduce risk of waves causing hull vulnerability 
•    Life extension of floating structures so you can reduce downtime- find out what else you should be inspecting and monitoring on your floating structures

Dry well southwest of the Edvard Grieg field – 16/1-24 - 17/03/2015

Dry well southwest of the Edvard Grieg field – 16/1-24


Lundin Norway AS, operator of production licence 338 C, has completed the drilling of wildcat well 16/1-24.
The well was drilled about 10 kilometres southwest of the Edvard Grieg field in the central part of the North Sea and 210 kilometres west of Stavanger.

The objective of the well was to prove petroleum in Lower Palaeocene reservoir rocks (Ty formation).

The well encountered an approx. 30-metre thick sandstone layer of very good reservoir quality in Upper Jurassic reservoir rocks (Draupne or Heather formation). Furthermore, the well encountered an approx. 120-metre thick sandstone-dominated interval in the Heather formation with good to poor reservoir quality. The well is dry.

Data acquisition and sampling were carried out.

This is the first exploration well in production licence 338 C, which was carved out of production licence 338 and awarded on 16 December 2014.

Well 16/1-24 was drilled to a vertical and measured depth of 2269 and 2299 metres beneath the sea surface, respectively, and was terminated in the Heather formation in Upper Jurassic rocks. The well has been permanently plugged and abandoned. The water depth is 105 metres.

The well was drilled by the Island Innovator drilling facility, which will now proceed to drill wildcat well 7220/11-2 in production licence 609, where Lundin Norway AS is the operator.

EXPRO WINS INNOVATION ACCOLADE AT OFFSHORE ACHIEVEMENT AWARDS - 17/03/2015

EXPRO WINS INNOVATION ACCOLADE AT OFFSHORE ACHIEVEMENT AWARDS

Leading international oilfield services company, Expro, has won the Innovator Award at this year’s SPE Offshore Achievement Awards for its pioneering Wireless Well Solutions technology.

The award, which was presented last night (12 March) at the Aberdeen Exhibition and Conference Centre, Aberdeen, recognises Expro’s excellence in technological innovation within the offshore energy sector.

The judges commended Expro’s Cableless Telemetry System (CaTS), an in-well wireless communications technology, and Advanced Reservoir Testing™ (ART), a special application of CaTS, which is being used to reduce reservoir uncertainty during field appraisal and development planning. By enabling well testing to continue beyond well abandonment, this technology is providing high value data at low incremental well cost.

Expro is the first, and presently the only, company able to wirelessly monitor the bottom-hole pressure and temperature in a permanently abandoned subsea well. Its CaTS ART application has gained broad industry recognition, having already been installed by several major operators in suspended or abandoned subsea wells globally.

Brian Champion, Global Sales Director for Wireless Well Solutions, comments:

“By reducing uncertainties in reservoir connectivity and compartmentalisation risk, this novel wireless monitoring solution allows our clients to enhance the value of their exploration/appraisal or development spend, leading to an optimised field development plan and exploitation of reserves.

“Unlike competing wireless technologies, the CaTS electromagnetic (EM) wireless signal is not influenced by cemented liner, casing, bridge plugs or cement plugs, and does not require a tubing string in the well to communicate along. This demonstrates its suitability to the long-term monitoring of abandoned wells, zones or pilot holes without any compromise to the integrity of the well abandonment.

“A combination of both innovative thinking and expertise in digital signal processing and harsh environment electronics design has been critical to our success, and the entire team is extremely proud to be recognised with this prestigious award. This achievement reinforces our commitment to pioneering unique wireless monitoring and control solutions for the offshore energy sector.”

Resulting from over 20 years of research and development, the CaTS system transmits low frequency EM signals from downhole to surface, and surface to downhole, and can be retrofitted into existing wells using either wireline or coil tubing or, alternatively, may be completion deployed.

Monday, 16 March 2015

EXPRO WINS INNOVATION ACCOLADE AT OFFSHORE ACHIEVEMENT AWARDS - 16/03/2015

EXPRO WINS INNOVATION ACCOLADE AT OFFSHORE ACHIEVEMENT AWARDS

Leading international oilfield services company, Expro, has won the Innovator Award at this year’s SPE Offshore Achievement Awards for its pioneering Wireless Well Solutions technology.

The award, which was presented last night (12 March) at the Aberdeen Exhibition and Conference Centre, Aberdeen, recognises Expro’s excellence in technological innovation within the offshore energy sector.

The judges commended Expro’s Cableless Telemetry System (CaTS), an in-well wireless communications technology, and Advanced Reservoir Testing™ (ART), a special application of CaTS, which is being used to reduce reservoir uncertainty during field appraisal and development planning. By enabling well testing to continue beyond well abandonment, this technology is providing high value data at low incremental well cost.

Expro is the first, and presently the only, company able to wirelessly monitor the bottom-hole pressure and temperature in a permanently abandoned subsea well. Its CaTS ART application has gained broad industry recognition, having already been installed by several major operators in suspended or abandoned subsea wells globally.

Brian Champion, Global Sales Director for Wireless Well Solutions, comments:

“By reducing uncertainties in reservoir connectivity and compartmentalisation risk, this novel wireless monitoring solution allows our clients to enhance the value of their exploration/appraisal or development spend, leading to an optimised field development plan and exploitation of reserves.

“Unlike competing wireless technologies, the CaTS electromagnetic (EM) wireless signal is not influenced by cemented liner, casing, bridge plugs or cement plugs, and does not require a tubing string in the well to communicate along. This demonstrates its suitability to the long-term monitoring of abandoned wells, zones or pilot holes without any compromise to the integrity of the well abandonment.

“A combination of both innovative thinking and expertise in digital signal processing and harsh environment electronics design has been critical to our success, and the entire team is extremely proud to be recognised with this prestigious award. This achievement reinforces our commitment to pioneering unique wireless monitoring and control solutions for the offshore energy sector.”

Resulting from over 20 years of research and development, the CaTS system transmits low frequency EM signals from downhole to surface, and surface to downhole, and can be retrofitted into existing wells using either wireline or coil tubing or, alternatively, may be completion deployed.

Johan Sverdrup contract for power supply from shore - 16/03/2015

Johan Sverdrup contract for power supply from shore

Statoil has, on behalf of the Johan Sverdrup partnership, awarded a contract to ABB for land-based power supply to phase 1 of the Johan Sverdrup field development.
The contract value is around NOK 1.1 billion, and covers delivery of electrical equipment for a converter station by the Kårstø processing complex at Haugsneset in the municipality of Tysvær, and a power module on the riser platform at the Johan Sverdrup field centre.

Bilde
Johan Sverdrup field illustration
The total cost of the power supply to phase 1 has been estimated at around NOK 6 billion (2015 value).

ABB will provide high-voltage direct current (HVDC) equipment that will transform the onshore grid’s alternating current (AC) to HVDC at the Haugsneset converter station before the current is transmitted in a 200-kilometre long direct current submarine cable to the Johan Sverdrup field centre. On the riser platform the power will be transformed and converted to AC for field centre operations.

The equipment will be delivered during the first half of 2017.

The Johan Sverdrup oil field will be operated by land-based power supply. During the first phase of the field development a system will be established for supplying power from shore to production start late in 2019.

The first phase of the field development will also include all preparations needed to meet the power requirement of a full development of the Johan Sverdrup field as well as other fields on the Utsira High by 2022.

The contract award is subject to the Norwegian Parliament’s approval of the plan for development and operation of the Johan Sverdrup field in 2015.

The Johan Sverdrup partnership consists of Statoil, Lundin Norway, Petoro, Det norske oljeselskap and Maersk Oil. The partnership has recommended Statoil as operator for all the field’s phases.

Friday, 13 March 2015

Drilling permit for well 6706/12-3 in production licence 602 - 13/03/2015

Drilling permit for well 6706/12-3 in production licence 602


The Norwegian Petroleum Directorate has granted Statoil Petroleum AS a drilling permit for well 6706/12-3, cf. Section 8 of the Resource Management Regulations.
Well 6706/12-3 will be drilled from the Transocean Spitsbergen drilling facility at position 67°04’5.85” north and 6°43’54.45” east after completing the drilling of wildcat well 6706/12- 2 for Statoil Petroleum AS in production licence 218.

The drilling programme for well 6706/12-3 relates to drilling of a wildcat well in production licence 602. Statoil Petroleum AS is the operator with an ownership interest of 30 per cent. 

The other licensees are Centrica Resources AS (20 per cent), Petoro AS (20 per cent), Rocksources Exploration Norway AS (10 per cent), Wintershall Norge AS (10 per cent) and Atlantic Petroleum Norge (10 per cent). The area in this licence consists of a part of block 6706/10, block 6706/11 and a part of block 6706/12. The well will be drilled about 16 kilometres west of Aasta Hansteen (the Haklang field).

Production licence 602 was awarded on 13 May 2011 in the 21st licensing round on the Norwegian shelf. This was the first well to be drilled in the licence.

The permit is contingent upon the operator securing all other permits and consents required by other authorities prior to commencing drilling activities.

Sound Policies Needed To Continue North American Energy Revolution, says ExxonMobil CEO - 13/03/2015

Sound Policies Needed To Continue North American Energy Revolution, says ExxonMobil CEO

The U.S. government needs to adjust its energy policies to ensure that America can realize all the benefits of the new era of energy abundance, Rex W. Tillerson, chairman and chief executive of Exxon Mobil Corporation (NYSE:XOM) said Thursday.

“We need sound energy policies – policies equal to the innovation that has redefined the modern energy landscape,” Tillerson said in an address to The Economic Club of Washington. “It is time to build policies that reflect our newfound abundance – that view the future with optimism, that recognize the power of free markets to drive innovation, and that proceed with the conviction that free trade brings prosperity and progress.”

As examples, Tillerson said that Congress and the White House need to enable U.S. exports of oil and natural gas, approve the Keystone XL pipeline, and make the regulatory process less burdensome and more transparent.

“With free trade in energy and common-sense regulatory reforms, the U.S. energy industry can strengthen U.S. energy security and continue to pioneer the innovations that make possible the safe and responsible development of energy,” Tillerson said. “No one can say for sure how the industry will evolve next or where it will go – but one of the enduring lessons of our industry is that sound policy rewards wide and disciplined investments, spurs economic growth and improved environmental performance, and leads to greater peace and prosperity.”

Tillerson also hailed the recent growth in the U.S. energy sector, and its impact on the American economy, noting that while the energy sector accounts for just under seven percent of the American economy, it has accounted for about 30 percent of the nation’s economic growth since the 2008 financial crisis.

“The energy industry has been an economic engine for the entire nation at a time of recession, slow growth, and falling labor participation rates,” Tillerson said.

A major driver in the industry’s expansion, Tillerson said, has been breakthroughs in the integration of hydraulic fracturing and horizontal drilling, a renaissance that is now bringing economic benefits to all 48 states in the continental U.S. along with unanticipated environmental gains.

“Because natural gas emits up to 60 percent less carbon dioxide than other major sources when used for power generation, our abundant and reliable supplies have been instrumental in reducing our nation’s carbon dioxide emissions to levels not seen since the early 1990s,” Tillerson said.

He noted that industry has a responsibility to meet the two-pronged challenge of providing for the world's energy needs while protecting the environment.

“The global economy will need sound economic reasoning and more sensible policies to fully leverage this moment to meet the energy and environmental challenges of the future,” said Tillerson.

Thursday, 12 March 2015

Fifth Ring’s Creative Director Selected To Judge At The 36th Annual Global ACE Awards - 12/03/2015

Fifth Ring’s Creative Director Selected To Judge At The 36th Annual Global ACE Awards

Stewart Fallowfield, creative director at global energy communications agency Fifth Ring, has been asked to judge at the prestigious annual Global ACE Awards held in New York City, USA.

Each year, the Business Marketing Association of New York, hosts the awards ceremony to recognise and celebrate creative excellence in business-to-business marketing across the globe. Stewart will be part of a team of nine judges, consisting of experienced creative directors from reputable and international communications agencies.

Stewart has been with Fifth Ring for 10 years, and has over 25 years of experience working for blue chip agencies in both London and Aberdeen. Based in the company’s Aberdeen office, he is responsible for design and creative projects across the organisation’s global offices in Asia Pacific, Europe, Middle East and North America. During his tenure he has managed several large branding projects in the energy sector, positioning him as a specialist in the development of corporate identities and brand communications.

Stewart commented on his selection: “ I am honored and thrilled to be chosen as judge for the world-renowned Global ACE Awards, from such a wide-pool of experienced and talented group of peers. I look forward to evaluating the creative work put forward by organisations, and seeing their originality and innovative approach to campaign creation.”


The awards ceremony will be held on 29 April 2015 at the Greene Space, at WNYC Radio, NYC. The judging will commence following the submission deadline on 20 March 2015. The award categories include all areas of marketing communications, covering design, advertising, digital, and public relations.

Building the largest 4G offshore network in the world - 12/03/2015

Building the largest 4G offshore network in the world

Statoil has chosen Maritime Communications Partner (MCP) to deploy and operate their high speed 4G-network on the Norwegian Continental Shelf (NCS). Statoil and MCP have signed a six years contract with an option to extend for another four years. With that MCP will immediately start building the world’s largest 4G network at sea.

Statoil will benefit from high-speed mobile coverage on all of its 34 platforms on the NCS. This will greatly improve communications between platforms, rigs and supply-vessels. Initially 15 rigs, two light well intervention vessels (LWI), two subsea inspection and maintenance vessels (IMR) and 50 supply ships will be covered.  High capacity, stability and availability will promote opportunities for integrated operations.

- Mobile operators and technology have through time, transformed how businesses operate. A state of the art high speed 4G network will facilitate even more innovation and efficiency improvement in the oil- and gas-industry, says MCP’s CEO Frode Støldal.

- This contract is a significant milestone in our offshore strategy where we apply an industrial approach, standardized infrastructure and a long-term plan for further expansion.

The agreement includes existing and new oilfields operated by Statoil. In addition to opening up for expansion into the UK Continental Shelf and other areas of Statoil’s international operation, the contract strongly supports MCP’s strategy in becoming the world’s leading maritime operator.

- Statoil is the leading operator on the NCS. The agreement is an important contribution in enabling a significant modernization of the mobile network and we are looking forward to cooperate with the company, said Støldal.

Telenor owned MCP specialize in communications solutions for shipping and offshore installations. MCP already owns 16 base stations on NCS that will be upgraded to high speed 4G during 2015. As new oil fields are developed, coverage and capacity will follow. An additional benefit for the maritime businesses such as merchant marine and fisheries is the general availability of mobile communications for all at sea. 

MCP has since its inception in 2002 had extensive technology cooperation with Ericsson. Charlotta Sund, Head of Ericsson Northern Europe & Central Asia, says:

- As a driving force behind the ‘Networked Society’ and a key player within the global telecommunications industry, we are proud to cooperate with MCP to bring high-speed 4G services to Statoil and the NCS. We have a long term focus on our partnership with MCP and the user experiences offered to their customers.

Wednesday, 11 March 2015

Gaffney, Cline & Associates opens new central London office to support growth in strategic and commercial petroleum consultancy - 11/03/2015

Gaffney, Cline & Associates opens new central London office to support growth in strategic and commercial petroleum consultancy

Gaffney, Cline & Associates (GCA), the leading petroleum consultancy firm, today announced the opening of a new office location in central London to complement its existing UK base in Bentley, Hampshire and international locations in Houston and Singapore.

The new office opens to support a growing demand for GCA’s strategic and commercial advisory services from clients across the world and particularly in the financial sector.

Michael Cline, GCA’s Principal – Business Strategy and Legal Counsel, who also leads the new office, said: “Even during a period of significant challenge for the industry, oil companies, lenders, insurers and traders have a need for informed and experienced strategic and commercial advice as they adjust their direction to navigate the changing conditions.

“GCA’s track record of supporting clients for more than 50 years means that we have seen more industry cycles than most individuals can remember, and that kind of experience is important for our clients just now.”

Jeanne-Mey Sun, GCA VP and Global Head of Business Consulting, added: “Whilst GCA is well known for its integrated technical and reserves based work, the business has developed significantly over recent years and now has a formidable capability in strategic and commercial advisory services for our oil and gas clients.  The London office location will serve as the co-ordination hub for our global petroleum business consulting practice.”

John Harris, President of GCA, said: “Over the second half of 2014 we were pleased to have added several new hires into our business consulting team from across the industry.  The London office is an important step for the development of our business and we look forward to welcoming our clients and partners to our new facility and successfully supporting them through this period of industry change and beyond.”

Hess, Marathon Oil and Anadarko to Attend Major Upstream Data Analytics Talks - 11/03/2015

Hess, Marathon Oil and Anadarko to Attend Major Upstream Data Analytics Talks

The upstream industry is at a critical juncture. Downward pressures on oil prices are leading to investment cuts in digital oilfield projects. But the current environment can provide a perfect breeding ground for innovation. In the current oil price environment, it is more important than ever to ensure every well and field is operating to its most efficient capacity.

For this reason, the oilfield analytics market continues to drive forward. It is estimated that in 2015, the Digital Oilfield services market will continue to grow by 40% - to more than $3.18 billion. And 50% of O&G companies will have advanced analytics capabilities in place by 2016.

Every producing well emits huge amounts of data every second as well as having vast amounts of unstructured engineering information and diagrams. It has been estimated that only 1% of the information gathered from about 30,000 separate data points is being made available to the oil and gas decision makers. At the same time, it is estimated that better data analysis could help oil and gas companies boost production by 6 to 8 percent.

To capitalize on these opportunities at this critical moment, on June 16-17 2015, 150+ senior level production operations and IT executives will gather at the Data Driven Production Optimization Conference. Leading experts from Hess, Marathon Oil, Halliburton, Baker Hughes and many more will gather to discuss their best practices and strategies in the realms of data management, visualization, analytics, reliability data, RTOCs and collaboration.

Highlights of the conference are to include:
 Engineers from Hess to give big data visualization demonstrations- understand how they have turned the ‘big data’ ideal into a reality and optimized productivity
 Interactive panels sessions- pose your questions to the data and analytics experts and understand the road map from real-time operations to advanced analytics
 Plan a predictive maintenance strategy and understand how mobile technology can bring the field to the engineer with presentations from Marathon Oil and SAS
 Understand how real-time monitoring can be used to make operations safer, with insight from the Ocean Energy Safety Institute and debate whether real-time operations centres should be made mandatory
For more information on oil and gas data analytics and the 2015 Data Driven Production Optimization Conference, visit: http://bit.ly/datadrivenpo