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Plant industrial oilfield equipment, drilling exploration and spare parts

Plant industrial oilfield equipment, drilling exploration and spare parts

Investors can be quickly overwhelmed by the complex jargon and unique metrics used throughout the oil and gas industry. This introduction is designed to help anyone understand the fundamentals of companies involved in oil and gas by explaining key concepts and standards of measurement. Crude oil and natural gas are naturally occurring substances that are found in rock in the Earth's crust. These organic raw materials are created by the compression of the remains of plants and animals in sedimentary rock such as sandstone, limestone, and shale. The sedimentary rock itself is a product of deposits in ancient oceans and other bodies of water.

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Industry Overview

VIDEO ON THE TOPIC: Overview on Deep Water Drilling

After several years of oversupply, the oil and gas industry could very well be moving headlong into a supply crunch. This may seem hard to imagine, given the ramping up of U. In general, the industry feels much healthier than it did 12 months ago: The price of oil has rebounded.

The industry is thus recovering from the brutal last few years of weak prices, enforced capital discipline, portfolio realignments, and productivity efficiencies.

At the same time, the International Energy Agency IEA has been flagging the possibility of a supply crunch since With oil demand growing, and investment in many major projects having been deferred during the downturn, there is less potential supply available.

Oil companies will need to boost their production, and there is a risk that some may struggle to keep up. The fundamental challenge, of course, is the intrinsic volatility in the sector.

Producers need time to address the vagaries of an over- or under-supplied market. They also need to grapple with the pace and magnitude of the transition to energy from non-fossil fuel sources.

Facing these uncertainties, oil and gas companies must develop a resilient strategy to mitigate these risks. In short, while the supply glut may have ended, its aftereffects will continue. In the short term, companies must maintain capital discipline and the focus on productivity improvements and applying new technology. In the long term, they need to make their portfolios profitable against low break-even prices. Looking more closely at the recent short-term recovery, it seems to represent a recent rebalancing of market fundamentals, in a way that will make supply more challenging over the next few years.

Oil supply growth has eased off, demand is robust, and inventory levels are finally eroding. On the supply side, OPEC has been critical to this adjustment. More broadly, global upstream capital expenditure, which dropped nearly 45 percent between and is now forecast to rise 6 percent year-on-year in the medium term. Oil and gas rig activity levels are rising, driven by the North American market, and major projects are being approved. To name a few examples: BP went ahead with the second phase of Mad Dog, a floating production platform, in the Gulf of Mexico.

Shell reached a final decision to invest in the Penguins field redevelopment, its first new staffed installation in the northern North Sea in almost 30 years. Exploration is on the rise again for the first time since the global recession. Numerous companies made bids in the recent Mexican deepwater auction, with Shell winning nine blocks out of 19 and Eni, Chevron, and Repsol, among others, picking up acreage. Despite these signs of a renaissance, the sector faces a number of supply-related challenges.

First is an ongoing decline in new discoveries. By the end of , the volume of new oil and gas discoveries, was at its lowest since the early s. To put this into perspective, only 3. This contraction was exacerbated by a second challenge: the slowness of the rise in exploration spending since it fell with the price collapse of — It is forecast to recover modestly over the near term at a 7 percent compound annual growth rate.

The investment slump in traditional supply sources looks like it will continue to have an effect on new production. Given that it takes about three to six years from project sanctioning to coming onstream, the decline in investment approvals during the price slump could continue to hurt the sector if financial investment decisions remain constrained.

A third big challenge the industry confronts is supply disruption. In existing oil fields, production is declining — and this decline rate is accelerating by about 4 percent per annum. Current spending increases elsewhere are insufficient to ensure discovery of enough new fields to replenish this decline. In some countries, the supply disruption is related to geopolitical issues. For example, with the economic distress in Venezuela, production there is currently down to some 1.

Although important everywhere, maintenance is critical in basins with aging asset infrastructure. Twitter LinkedIn. A fourth issue constraining the global oil production system is deferred maintenance. Some operators have put off noncritical spending in recent years to reduce costs. The recent crack in the North Sea Forties pipeline, which disrupted production in the region, highlighted the challenges for an asset that is more than 40 years old it was inaugurated in with an original design life of some 25 years.

A fifth challenge for operators involves the gap between the expanded capabilities they need, and the diminished capabilities they have. Finally, the industry has the broader challenge of dealing with the overall momentum to build a lower-carbon world. The growing electrification of transport, the possible plateauing of oil demand by the s highlighted by BP in its Energy Outlook publication , and the deployment of smart technologies to better manage supply and demand will require business models throughout the energy industry to evolve.

As for U. From a financial perspective, U. Faced with the uncertainties of a potential supply crunch and the energy transition, what should companies do? Continue to manage the overall portfolio with a much lower break-even price, whatever actual oil prices are. Big players are already doing this.

In May , Shell divested the majority of its Athabasca oil sands business on the grounds of poor economics in a lower oil price world and perhaps with an eye to the future, given the higher emissions produced by this unconventional source.

In order to maintain this type of portfolio, companies must undertake regular portfolio reviews to weed out assets that do not comply. This portfolio approach should resonate with companies of all sizes, including the smaller independents, some of whom focus too much on the technical challenge of discovering exciting new plays, rather than on commercial viability. Hold on to the mantra of capital discipline. If the oil price rises, stay the course on cost reduction, standardization, and collaboration to make sure inefficiencies do not creep back in.

Ensure all operational decisions — including new country entry, production optimization, and acquisitions and divestments — are reviewed under the lens of full-cycle project economics.

Supporting a high level of free cash flow will be critical for oil and gas operators. Capital will flow to companies that deliver positive returns in any type of commodity price environment. Since success in the market correlates with financial returns as opposed to production volume, the entire company will benefit.

Refocus investment and efforts on asset maintenance. As oil prices rise, operators may be tempted to push their equipment harder to produce more. But given the age of many assets, oil and gas companies need to ensure adequate funds are available to keep supply infrastructure in good repair.

This is especially true for companies that deferred maintenance beginning in As rising levels of activity put stress on production equipment, unplanned outages will harm the industry. Thus, planned maintenance should account for the majority of activity going ahead.

Many oil exploration and production companies believe they need to build capabilities across the entire value chain, when in reality shareholders and the providers of capital simply want a return on their investment. In a dynamic market, the owner-operator model is a handicap; the costs incurred under this construct outweigh the value generated.

Companies need to parlay their own exceptional capabilities into true partnerships with other best-in-class companies to stitch together an ecosystem of expertise. This shift away from operations will help them replace fixed costs with variable costs, and construct commercial terms that balance risk, reward, and roles. Companies in many other industries that went through similar downturns were forced to evolve and now are healthier, more agile, and more likely to win in volatile markets. Double down on digitization.

Now is the time to transform operations by leveraging advanced digital technology to drive efficiencies and to open up new opportunities. Doing so might involve so-called digital twins virtual simulations of assets that can improve the efficiency of predictive maintenance. Oil and gas companies need to drive this innovation across their businesses. Develop talent for a new era of technology. Traditional disciplines such as subsurface and surface engineering are still important, but they must be balanced against new demand for expertise in digital operations.

As companies build their capabilities in software engineering and data science for example, senior executives in talent management will need to figure out the right weighting of technical engineers versus technological data scientists and software engineers staff and how the sector can attract the latter.

Moreover, as companies become more efficient through the application of digital solutions and the likelihood of sustained lower oil prices, it is unclear if head counts return to pre levels. Consider how the overall business should evolve. In the longer term, given the mega trends shaping the sector, companies must focus on finding and executing the most resilient future-proof strategy for their own unique capabilities. Entry into new types of energy operations may be one avenue. For example, Dong has used its legacy upstream oil and gas business to fund its growth segment in wind energy.

In , Dong exited the oil and gas business to focus on low-carbon plays, subsequently rebranding itself Orsted. Engie similarly divested its upstream assets to focus on power and renewables. Some of the European oil majors are also investing in low-carbon plays, which range from traditional renewable energy such as wind and solar power generation to more recent acquisitions involving electric vehicle infrastructure.

Shifting portfolios to further favor natural gas is another option. There is a growing school of thought in the market that oil-focused upstream companies have perhaps 10 to 15 years of potential growth opportunity. For producers who share this view, natural gas becomes the bridging fuel to a low-carbon economy. Many people in the industry continue to neglect the supply side of the global energy situation and assume an overconfidence in supply. Demand continues to exceed annual forecasts, inventories are being reduced, and reserves are not being replaced.

Market values — for example, backwardation in which futures prices trade below expected market prices and forward pricing curves — reflect a belief that supply is easy to increase and demand will flatten. Nonetheless, the world remains dependent on oil and gas. The need to find more of both resources will become more pressing over the short to medium term.

Volatility is also likely to continue in market fundamentals, thus affecting oil prices. As operators assess the impact of various scenarios from supply constraints to low carbon, they need a plan of action.

Portfolios have to be resilient, innovation needs to thrive, and productivity and capital efficiency must remain the bedrock of operations.

Looking further out, companies will need a robust strategy for hydrocarbon weighting: a strategy that will serve them no matter what the future brings. Only those companies who can do all this will prevail. Giorgio Biscardini. David Branson.

AEL Ltd. Able UK - Rehabilitation and development of disused sites, facilities and structures.

Maximize directional steering, motor stall detection, and well placement with enhanced drilling measurements. Improve slickwater fracturing in unconventional wells with high efficiency and improved logistics and HSE footprint. Rick Faircloth, Senior Technical Consultant, reflects on his year career and offers advice for the next generation of industry professionals. Devin McBride, new-business ventures manager, discusses managing drilling equipment condition and performance.

Oil & Gas Industry

Crude oils and natural gases are mixtures of hydrocarbon molecules organic compounds of carbon and hydrogen atoms containing from 1 to 60 carbon atoms. The properties of these hydrocarbons depend on the number and arrangement of the carbon and hydrogen atoms in their molecules. The basic hydrocarbon molecule is 1 carbon atom linked with 4 hydrogen atoms methane. All other variations of petroleum hydrocarbons evolve from this molecule.

Conclusion

Knowledge is Safety! You've heard the story more than once. There are always naysayers, just before something or someone takes off. Most times, it occur right before creating an entire new industry.

After several years of oversupply, the oil and gas industry could very well be moving headlong into a supply crunch.

Canrig Top Drive For Sale. Tool Pusher and Crew quarters, rig matting boards. Canrig top drive systems are the most popular for drilling gas and oil wells. For example, REVit, which mitigates stick-slip, was installed on more than 50 top drive systems in approximately six months. These attributes are evident in our new one thousand ton top drive. All of this contributes to cost savings. A top drive allows drillers to more quickly engage and disengage pumps or the rotary while removing or restringing the pipe. The Slider system works by imposing a rocking motion from the top drive using torque as feedback, causing the drillstring to behave as if it were rotating during sliding. All our top drives are supplied with several accessories that have been tailor-made to meet rig requirements. It is equipped with climate control Single 5 Ton AC with Heater , insulation, and quick disconnect couplings.

F Series Mud Pump

Plunkett Research, Ltd. The energy industry is boiling over with changes. Deregulation, new opportunities in foreign fields and markets and environmental challenges are rushing together head-on to shape the energy and utilities business of the future.

Knowledge is Safety! Working hard and striking for oil is what over , workers do every day in the Oil and Gas industry.

F series mud pump is characterized by compact structure, small size, good running performance. Can meet the oil field drilling technical requirements, such as pump high pressure, large displacement and so on. The series of mud pumps are widely used in oil and other industrial and mining enterprises drilling, operations and so on. Shandong Yukos Petroleum Equipment Co. The company mainly engaged in research and development of oil drilling, workover equipment, oilfield special equipment, oil extraction equipment and downhole tools, as well as the provision of oil engineering design and petroleum engineering and technical services. Through continuous development and unremitting efforts in the domestic market stability in the case of relying on product quality, competitive price advantage and quality and efficient service, the company vigorously explore the international market, increase foreign cooperation channels. The products are exported to the United States , Canada, Russia and other countries. Technical Date. Our advantage. Packaging Details:as standard packing.

Genesis Oil & Gas Services is a wholly owned Ghanaian oilfield services and oil & gas pipeline and plant construction, maintenance and operations services. superior oil & gas well equipment and spare parts to the industries it serves. Brunei Companies - Oil and gas drilling and exploration contractors - Singapore.

How the Oil and Gas Industry Works

One of the largest manufacturers of industrial valves in the Central and Eastern Europe. Supply of graphite of various brands, which is used as a pigment in concrete and other building mixtures, as well as steel powders, which are used as a weighting agent for materials and structures. One of the leading Ukrainian servicing companies engaged in operations on drilling and workover of oil and gas wells on Ukrainian fields. The modern company that provides construction, repair and maintenance services of oil and gas wells at the high level according to the international standards. The full service measurement while drilling manufacturer that operates worldwide.

Rig Tong Parts

How are wells drilled? When you fill up your car with gasoline or pay your natural gas heating bill, you are the final link in a long chain of businesses that make it possible for us to enjoy these clean, convenient and economical forms of energy. The entire chain is known as the petroleum industry. However, the industry is usually divided into three major components: upstream, midstream and downstream. The upstream industry finds and produces crude oil and natural gas. The midstream industry processes, stores, markets and transports commodities such as crude oil, natural gas, natural gas liquids NGLs, mainly ethane, propane and butane and sulphur.

Oilfield Equipment and Services

The company was established as a Trading House to cater to the increasing demand of Oilfield equipments and spare parts required by the petrochemical projects and drilling Industries in the Middle-East Region. All is being done under one management control and we act as "Your man on the sport". Ismark is a diversified Oilfield supply company providing a complete range of equipments, parts, accessories and services for Oil and Gas related projects.

Oil and Gas

JMW Companies is a leading provider of trucking, residual waste disposal, specialized well site services and environmental solutions. Propane is an amazingly versatile fuel, and whether you use it to heat your home, cook your food or warm your crops, we want to be your trusted source for propane and prompt, expert propane equipment service.

Canrig top drive manual

Today our products for SIL 2 and Ex applications are used in exploration platforms, refineries and pipelines — onshore and offshore — in many areas around the globe. PR electronics was one of the first electronics manufacturers in the world to be certified as a developer of signal conditioning devices for SIL 2 applications in accordance with the Functional Safety standard IEC With a smaller number of variants, our products are able to cover a wide range of applications.

List of components of oil drilling rigs

Стоящая перед ним задача была крайне деликатна и требовала массу времени - вписать скрытый черный ход в сложный алгоритм и добавить невидимый ключ в Интернете.

Тайна имела первостепенное значение.

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