Posted inExploration & Production

QatarEnergy enters offshore Atlantic exploration in Canada

QatarEnergy signed an agreement with ExxonMobil Canada, marking its expansion in North America

QatarEnergy signed an agreement with ExxonMobil Canada to farm into an exploration license offshore the province of Newfoundland and Labrador in Canada. The transaction has received all necessary consents from the Canada- Newfoundland and Labrador Offshore Petroleum Board (C-NLOPB). According to the agreement, QatarEnergy will hold a 40% participating interest in license EL 1165A, where […]

Posted inDRILLING & PRODUCTIONExploration & Production

China set to spend $120 bn on services and drill 118,000 wells through 2025

The nation is aiming to meet its climbing domestic demand and reduce its share of imports

China is looking to pump up oil and gas production in the years ahead to meet climbing domestic demand and reduce the record-high share of imports in its oil consumption. A Rystad Energy report projects a surge in spending till 2025, which will be accompanied by a drilling spree totaling 118,000 wells that will create […]

Posted inProducts & Services

Artificial intelligence software to impact offshore asset inspections

New inspection solution reduces human risk and improves speed and accuracy

The power of ground-breaking, artificial intelligence (AI) technology has been harnessed in a new real-time inspection solution, capable of autonomously detecting and categorising equipment anomalies. The Augmented Machine Vision Solution (AMVS) has been developed through a 12 month, AUD$288,600 partnership between Wood and NERA (National Energy Resources Australia) – the independent NFP, grant funded by […]

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