Oilfield giant schlumberger has revealed a slew of new contacts including a deal to supply equipment to the Leviathan field, offshore Israel, and to perform ocean bottom survey work on BP's Clair Ridge field, west of Shetland, UK.
The firm also says that while market strengthening has been around land markets, it is now seeing an increasing number of new offshore projects being prepared for tendering and final investment decision in many of the world's shallow water basins. Schlumberger's Q2 revenues grew 8%, compared to Q1, to US$7.4 billion, or a 4% rise if compared to the same period last year.
BP awarded WesternGeco the data processing and imaging of a state-of-the-art, ultrahigh-density ocean-bottom survey to be acquired over the Clair Ridge field. The survey will become the baseline for future 4D time-lapse studies of the area and includes advanced velocity model building and multicomponent processing and imaging technologies, Schlumberger said in its Q2 results.
Noble Energy Mediterranean awarded Schlumberger a contract for the provision of a measurement and control system for the deepwater Leviathan development. The valves and measurement system will include two large, multirun metering skids, Caldon gas and liquid ultrasonic custody transfer meters, a bidirectional prover, and a building to house multiple natural gas component analyzers and supervisory control systems.
Meanwhile, in the US Gulf of Mexico, OneSubsea and its Subsea Services Alliance member, Helix Energy Solutions, received an expression of interest for rental of the jointly developed 15,000 psi Intervention Riser System, starting in Q4 2017. This system, in which the construction was launched mid-2015, will be the first of its kind available on a rental basis to address the growing intervention needs of high-pressure subsea wells.
Repsol Exploracion Guyana, awarded WesternGeco a 4000sq km survey offshore Guyana near recent major oil discoveries. In addition, Tullow awarded WesternGeco two contracts—one for a 2150sq km 3D survey offshore Guyana and the second for data processing of a recently acquired dataset in Uruguay. The Uruguay data will be processed in the WesternGeco Gatwick Geosolutions center using prestack depth migration and a broadband processing flow.
In Bahrain, Schlumberger's Integrated Drilling Services (IDS) was awarded a contract for two offshore exploration wells with a six-month optional extension by the Bahrain Petroleum Company (BAPCO). The contract includes products and services from the Reservoir Characterization, Drilling, Production, and Cameron Groups. A number of technologies are included in the contract, such as the PowerDrive vorteX powered rotary steerable system, GeoFlex quantitative cuttings analysis and imaging service, FlexSTIM modular offshore stimulation system, and CERTIS high-integrity reservoir test isolation system. Operations began in the first quarter of 2017.
SCS Corporation, a subsidiary of Hyperdynamics Corporation, awarded Schlumberger a drilling master services contract for the Fatala-1 deepwater exploration well offshore the Republic of Guinea. The contract includes wireline logging, measurement- and logging-while-drilling, drilling fluids and solids control, downhole cementing, mud logging, drillbits and reamers, as well as contingency fishing equipment and services. Schlumberger will also provide an IDS project manager and drilling will begin in Q3 2017.
In the US Gulf of Mexico, the Drilling Group used a combination of technologies for Shell to optimize drilling of a challenging salt formation in the Green Canyon Block. Drilling through salt creates very high torque levels and fluctuations that can lead to low rates of penetration (ROP) or tool failures. The technologies included a Drilling & Measurements PowerDrive Orbit rotary steerable system and a Bits & Drilling Tools AxeBlade ridge diamond element bit. As a result, the customer was the first to drill more than 5353ft in a 24-hour period in the Gulf of Mexico and was able to save seven days of drilling time in the 16½-in section.
Giving its outlook, Schlumberger said: "While the activity outlook in North America for the second half of the year remains robust, we are now also seeing more positive signs in the international markets with increases in activity and new project plans starting to emerge in several GeoMarkets. The strengthening in the international markets has so far been concentrated around land activity in Western Siberia and in the OPEC Gulf countries but we are now also seeing an increasing number of new offshore projects being prepared for tendering and final investment decision (FID) in many of the world’s shallow water basins."