<a href="http://youngpetro.org/2013/03/06/how-is-it-possible-to-produce-oil-from-sand/"><b>How is it possible to produce oil from sand?</b></a> <a href="http://youngpetro.org/2011/10/09/people-engineers-and-spe-members/"><b>People, Engineers and SPE Members</b></a> <a href="http://youngpetro.org/2012/12/19/if-i-were-a-prime-minister/"><b>If I Were a Prime Minister…</b></a> <a href="http://youngpetro.org/2012/12/26/polish-shales-delayed/"><b>Polish shales delayed?</b></a> <a href="http://youngpetro.org/2013/01/11/russia-continues-the-policy-of-states-companies-monopoly/"><b>Russia continues the policy of state companies’ monopoly</b></a>
 

South Asia Geosciences Student Conference 2016

South Asia Geosciences Student Conference 2016

South Asia Geosciences Student Conference (SAGSC) is an International Geosciences student conference held by Society of Exploration Geophysics (SEG). It is the second event of its kind in South Asia and SEG UGM-SC is trusted to be the host for this event. SAGSC 2016 will be held at Yogyakarta Special Region, Indonesia. The event is managed to provide various technical and non-technical activities in the 4-Days conference. There will be Grand Ceremony, Exhibition, Lecture, Conference, Competition, Geo Bowl, Field Trip and City Tour.

Coming Soon Poster_SAGSC 2106

This event is widely open for geoscience students who want to focus on crossing the boundaries between all the geoscience branches such as Oil&Gas, Geophysics, Near-Surface, and general Geology so they are able to share and furnish their ideas and curiosity while interacting with the experts, sharing knowledge, making relations also network, and many more. The SAGSC 2016 will consist of many extraordinary research topics within a very interesting student environment which enable students to carry out mutually beneficial work.

see more at:  http://www.sagsc2016.ugm.ac.id

Platform in Niger Delta attacked by local militians

Platform in Niger Delta attacked by local militians

A newly formed group calling itself the Niger Delta Avengers attacked a Chevron’s Okan offshore facility on May 4th at 11 PM.

“Okan offshore facility in the Western Niger Delta region was breached by unknown persons.” – said Chevron in a statement to Reuters

Assault led to a spill and US company was forced to shut the facility. In Friday Chevron said that 35,000 barrels a day of its own net production was affected. Okan offshore platform feeds crude and gas into the massive Escravos export facility, which is also owned by Chevron and Nigeria National Petroleum Corporation.
Fortunately no one was hurt during the invasion. A spokesman for the Nigerian Navy said the attackers used dynamite to damage the platform and that they attacked an oil and gas collection point of the area.
According to Bloomberg Nigeria is producing oil at its lowest levels in two decades. For the first time since 1994 production is below 1.7 million barrels per day. Country’s economy is struggling the downtrend in energy prices and attacks in the north by the Islamists.
Attacks on the pipelines and violence rose in Delta when authorities issued an arrest warrant for Tompolo (Niger Delta ex-militiant leader – Government Ekpemupolo), who said:

“The President should allow people of the Niger Delta Region to know peace, otherwise he will not know peace as well.”

Niger Delta Avengers has already announced another attacks. What is really worrying is that this region will continue to be very dangerous for next year or maybe even longer. The country that was Africa’s biggest crude producer is slipping back into chaos.

Read more:

http://www.ft.com/intl/cms/s/0/001fabc6-13af-11e6-91da-096d89bd2173.html

http://www.maritime-executive.com/article/chevron-platform-in-niger-delta-attacked

http://www.bloomberg.com/news/articles/2016-05-09/oil-union-says-workers-evacuated-as-niger-delta-security-worsens

The collapse of Halliburton’s acquisition. Baker Hughes stays independent.

The collapse of Halliburton’s acquisition. Baker Hughes stays independent.

 

The financial earthquake has appeared on the international stock markets. One of the biggest fusions in oil industry in recent years has been canceled. American multinational corporations and oil field services providers Halliburton and Baker Hughes have abandoned their 28$ billion worth merger.

“Challenges in obtaining remaining regulatory approvals and general industry conditions that severely damaged deal economics led to the conclusion that termination is the best course of action,” said Dave Lesar, chief executive of Halliburton.

The U.S Justice Department has been getting dozens of alarming signals from antitrust regulators (agencies), oil companies and the European Commission for a long time . Basing on above information and evidence the U.S Justice  Department prepared a lawsuit last month to stop the merger, arguing it would leave only two dominate suppliers in business (it would create specific kind of a duopoly).

“The companies’ decision to abandon this transaction – which would have left many oilfield service markets in the hands of a duopoly – is a victory for the U.S. economy and for all Americans,” said U.S. Attorney General Loretta Lynch (May, 1 2016).

As a result of the deal’s failure, currently Halliburton is obliged to pay a 3.5$ billion breakup fee. This expense will affect on the employment market. Halliburton plans to cut more than 600 jobs to acquire funds for liabilities.

Read more:

http://www.bloomberg.com/news/articles/2016-05-02/halliburton-baker-hughes-abandon-28-billion-merger-agreement

http://www.reuters.com/article/us-bakerhughes-m-a-halliburton-idUSKCN0XS1KW

Picture:

http://www.bidnessetc.com/

Obtain a new equipment

Obtain a new equipment

There was a time, and not so long ago when a small oil companies in southern Texas had to send their employees for hundreds of kilometers to do a tour of the oil fields and check whether the machines are working properly. To notice a fault, it took a day or more and to fix it it could last a week or so. You can only imagine losses for the company then. Fortunately, we have 2016 and companies like Welder Exploration & Production don’t have to worry anymore about not knowing about what is state of their devices.

 

Today, it takes just seconds for Welder to learn that one of his company’s wells has gone down. That’s because in 2013, Welder Exploration became one of the first oil producers to sign on with WellAware, a tech startup that kits out clients’ oil and gas wells with hardware that transmits real-time data over its own radio network. Clients can access the information on a smartphone or tablet using WellAware’s mobile app or through a Web browser. Customers pay $15 to $100 a month per well, depending on the level of service and equipment.

Without a doubt U.S is highly advanced in drilling technology, this was the basis of the shale boom. However much of the oil industry lags far behind when it comes to technology above-ground. Now, when the industry is more focused on cost-cutting and optimization of production in existing deposits than search for new, digitizing operations has become much more appealing.

Dave Milam, head of product management at WellAware, says that the beginnings were not easy: “People used to tell me, ‘If you can’t help us find more oil and drill faster, I don’t have time to talk to you,’ ”. WellAware was founded 2012 and has raised $61 million in venture capital and counts billionaire Carlos Slim as an investor. The privately held company doesn’t report financial results, but Milam says its roster of customers has grown tenfold in the past year.

In a report released in March, McKinsey estimates that each of the world’s oil majors could reap $1 billion in cost savings and production increases from the adoption of digital technologies. In California, Chevron is using the latest technologies like drones, which are popular in Oil and Gas industry according to what we reported a few months ago.

Technological advances now allow for a very large savings in the industry and more accurate data collection with instant collecting them and sending for analysis. According to the speech of Ahmed Hashmi, global head of upstream technology at BP, the company has plowed “several hundred million dollars” into digital field technologies, which now cover about 85 percent of its oil and gas production around the world, compared with just 20 percent five years ago. “Digital is the rare technology that allows us to do more with less,” he said.

Despite the many advantages of technological advances in the industry are still many traditionalists attached to the old, proven technologies. To convince them to new solutions companies such as Bluetick, a North Carolina company that offers remote monitoring and automation services for oil and gas companies, shows how much save their competitors and that convince them.

source Bloomberg