Unless prices recover, the US oil production will start falling before the end of 2015 as new drilling is insufficient to replace declining output from wells completed in 2013 and 2014, said an expert.
Future production depends on
A project which entails drilling deeper for gas onshore in the Bahrain Field is progressing well, it has emerged.
This follows a visit by Energy Minister Dr Abdulhussain Mirza to the site of Deep Gas Well (BD-1), said a report in
Italian oil services firm Saipem said it had won around $2 billion worth of engineering, construction and drilling contracts in the Middle East and Latin America.
Saudi Arabia's state-run oil company Aramco
Advanced Construction Technology Services (ACTS) has begun overseeing drilling and logging work and conducting geotechnical engineering work on the Riyadh Metro project in Saudi Arabia.
The work is being undertaken under a subcont
BP has awarded two drilling contracts worth $730 million for the development of its Oman's Khazzan tight gas project, it said.
It said it has awarded work worth more than $400 million to KCA Deutag for the construction and ope
Oil Search expects to resume drilling work in the Taza field in Iraqi Kurdistan in three to four weeks when the situation stabilises, a senior company official said.
"Right now, activity has been impacted
Ludin Petroleum, a Swedish independent oil and gas exploration and production company, has appointed UK firm AnTech to carry out an underbalanced coiled tubing drilling (CTUBD) project to ensure maximum oil recovery from its assets in Europe.
Anton Oilfield Services Group, the leading independent oilfield services provider in China, has won a deal for a $50million worth drilling project in southern Iraq.
It will provide services with two rigs on a day-rate basis with t
By now everyone knows the shale revolution was made possible by the combination of horizontal drilling and hydraulic fracturing.
But although fracking has captured the popular imagination, and is often used as a synonym for the wh