Commentary, 5/6 2014Jun 12, 2014 Stability, Please
From an outsider’s point of view, increasing oil and gas prices – for what ever reason – must be the oil industry’s dream. But unfortunately, increasing prices are often a sign of instability, which from an oil and gas perspective may be simply the result of the increased costs of exploration and production...
From the Editor, 5/6 2014Jun 12, 2014 Meeting in Moscow
Chances are, you might be among the lucky ones, reading this latest issue in Moscow during the 21st World Petroleum Congress this June. Under the leadership of the World Petroleum Council, this unparalleled event has been held every three years in different countries since 1933...
Russia Remarks – Through CrisisJun 12, 2014 Secretaries carrying boxes of passports into a consulate are a not-so-subtle sign of trade. After all, it’s people who really trade, not states. As we wait for our visas ahead of the World Petroleum Conference in Moscow, we can’t help but notice the hundreds of red Norwegian passports being carted in, a sign, surely, that cross-border business ties are strong despite the choosing of sides by politicians eager to please or speak out over Russia’s defence of Ukraine’s disenfranchised. Out on the sidewalk, Norwegians waving papers bearing Gazprom letterhead speaks of an industry drawn to a Russia racing to build process plant, pipelines, ships of all types and rigs. Investors in Russia have lost business of late, as finance is politicised, yet the Ukraine Crisis’s overall industry effect has been to lift commodity prices and unstick strategic projects.
The Risks and Benefits of Factory Drilling – Achieving Predictable Drilling EfficiencyJun 12, 2014 Operators are increasingly focused on maximising drilling efficiencies in land operations, and many are turning to factory drilling. While factory drilling helps isolate and address wellbore-related non-productive time (NPT) issues and allows for more optimally and faster drilled wells, the drive for speed is placing more stress on drilling equipment, especially downhole equipment.
Managing Recommendations from Re-HAZOPsJun 12, 2014 HAZOP – Hazard and Operability risk assessment – originally intended for capital projects, is now specifically mentioned in the USA’s Process Safety Management regulations, reflecting best practice approach to PSM including application of the HAZOP methodology to existing facilities (re-HAZOPs), typically carried out every five years.
