• January 21, 2025

(Bloomberg) – U.S. President Donald Trump revoked offshore oil and gas leasing bans that effectively blocked drilling in most U.S. coastal waters as he made sweeping moves his first hours in office to unleash American energy development. Trump’s move came as part of a broad assault on executive orders issued by former President Joe Biden, including revoking his recent decision to bar drilling rigs in some 625 million acres of coastal waters. The shift wouldn’t immediately trigger new offshore lease sales — and environmentalists are vowing to fight it in federal court. Oil companies have also displayed little interest in tapping most of the areas Trump moved to put back in play for leasing. Even so, congressional Republicans are eyeing new offshore oil auctions as a way to raise federal revenue that can help offset the cost of extending the 2017 tax cuts. It could take years — if ever — for Trump’s move to result in new oil and gas development, and it’s not clear it will survive legal challenges. Nevertheless, the effort underscores the new president’s commitment to a frequent campaign pledge: to unlock more of America’s vast stories of energy. Trump’s action also responds to the wishes of one of his top constituencies: the oil and gas industry that’s long sought more drilling opportunities on federal lands and waters. Industry leaders argue oil and gas will be needed for decades, especially given the predicted surge in electricity demand from artificial intelligence. When American resources are developed, energy executives say they come with a smaller carbon footprint than fossil fuels from elsewhere around the world. Trump is “moving swiftly to chart a new path where U.S. oil and natural gas are embraced, not restricted,” said Mike Sommers, head of the American Petroleum Institute. Article source: worldoil

• December 27, 2024

Since its establishment in 1995, JST has always adhered to the R & D and Application Research of new technologies and new materials, and is committed to providing customers with more reliable sealing system solutions. It has accepted the baptism of the market and finally achieved fruitful results. Yesterday, all JST employees shared the joy and brilliance of the 29th anniversary.

• December 18, 2024

ADNOC Drilling Company has announced the closing of the Turnwell Industries joint venture (JV) between ADNOC Drilling, SLB and Patterson-UTI. “Closing the Turnwell JV with SLB and Patterson-UTI advances our plans to unlock the UAE’s world-class unconventional energy resources, reinforcing the UAE’s position as a global leader in the responsible supply of energy,” said Abdulrahman Abdulla Al Seiari, Chief Executive Officer, ADNOC Drilling. “This joint venture is a groundbreaking achievement and is already paying dividends through the significant reduction in well delivery time as seen through the first wells being delivered in record time.” The JV cements a powerful partnership that will lead the UAE’s new unconventional energy journey. ADNOC Drilling holds a 55% majority equity stake, SLB, the world's largest oilfield services provider, holds a 30% equity stake and Patterson-UTI, a leading provider of drilling and completions services in the United States, holds the remaining 15% equity stake. Turnwell announced the acceleration of its initial 144 unconventional wells earlier this year, following the successful operational startup, enabled by the resources, expertise, and strategic guidance of ADNOC Drilling, SLB and Patterson-UTI. Turnwell is also exploring the significant potential for future opportunities in unconventional energy resources in the UAE. So far in its 144 well drilling campaign, Turnwell successfully delivered the fastest well time with a record 19.9 days, and an expectation for further significant efficiency gains. On the initial wells, they achieved a 13% improvement in well delivery time compared to the previous record and a 53% reduction in well delivery over the 4 wells in the pad. Today, Abu Dhabi holds an estimated 220 billion barrels of unconventional oil and 460 TCF of unconventional gas in place. The recovery of these resources will require thousands of wells to be delivered, well over and above the initial 144 wells. Turnwell will leverage innovations in AI smart drilling design, completions engineering, and production solutions to responsibly deliver and secure the UAE’s unconventional energy needs and resources. Turnwell also benefits from a direct relationship with ADNOC Drilling’s JV with Alpha Dhabi, Enersol, which is investing in, and acquiring the IP of, innovative energy services technology companies that bring greater operational efficiency. Article source: worldoil

• November 28, 2024

The Deepwater Development Conference (Marine Construction Engineering Deepwater Development (MCEDD)) is the leading conference addressing technical issues related to engineering, development, and production of oil and gas in deepwater and ultra deepwater arenas around the world. As our industry confronts new challenges, the sharing of deepwater experience plays a critical role in improving the quality, safety, and economics vital to the future of the industry. The Deepwater Development Conference (MCEDD) engages key members of the deepwater oil and gas community by providing a stage for world-class technical discussions focusing on the technology, innovation and experience paving the way to realising a future of increasing demand. The technical programme works together with the exclusive exhibition and valuable networking opportunities to create an environment conducive to better understanding the long-term vision of the global deepwater industry. New Deepwater Plays, New Deepwater Ways The 2025 conference sets its vision on the raft of new plays in the global deepwater sector, such as Namibia and Suriname, as well as those developing at pace like Guyana, while still taking lessons learned from established markets in Brazil and the Gulf of Mexico. Deepwater professionals, like the wider energy industry, are striving to maximise revenues while minimising the environmental impact of doing so—what technologies and innovations are driving the new deepwater ways and what developments will the future hold? As the premier deepwater development conference globally, MCEDD 2025 is attracting a wide variety of participating companies and individuals. Among operators, there already is confirmed participation from host sponsor Repsol, along with TotalEnergies, bp, Shell, ExxonMobil, Petrobras, SOCAR, Eco (Atlantic) Oil & Gas, and Challenger Energy Group. We can report that additional operators are expected to confirm shortly. And among equipment/service firms and drilling contractors, we can report a very significant roster of participants, including Wood, TechnipFMC, McDermott, MODEC, Noble, Oceaneering, One Subsea, Saipem, ABS, FutureOn, Emerson, Neodrill, Bosch Rexroth, HMH, JDR Cables, and Inflow Control. As the conference sessions fill out, this list is expected to grow further. In addition, several analysis houses and associations will participate, including Wood Mac, Westwood, S&P Global, IOGP, and Welligence. Again, this group is likely to increase. Technical sessions. This year, MCEDD 2025 will feature a single-track format of sessions, with a very strong set of topics. On the opening afternoon, Tuesday (March 25), one session will be an operator panel focused on potential “Strategies for Cost Optimisation in Deepwater Projects.” Another session will be a special presentation on the Shah Deniz stage 2 development, looking at it from design to operation. Rounding out that first afternoon will be a panel that examines opportunities and challeng...