Innovation
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Petrobras to receive OTC award for new well technology
Petrobras PBR will receive the 2023 OTC Brasil Distinguished Achievement Award for its development of a new well construction/intervention technology that combines a moored BOP (blowout preventer) with real-time riser analysis. This award is important because it recognizes PBR’s significant contributions to the development of innovative well technology in the global offshore industry. The award
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Equinor selects Nauticus Robotics for leak detection technology
According to Offshore Technology, Equinor, a Norwegian state-backed oil and gas company, has selected Nauticus Robotics and its partner Stinger Technology to deploy Nauticus’ proprietary technology for leak detection. US-listed Nauticus is developing ocean robots and artificial intelligence for autonomous services to the marine sectors. The deal aims to demonstrate and qualify Nauticus’ leak detection
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Baker Hughes wins significant gas technology contract to support Equinor project offshore Brazil
According to World Oil, Baker Hughes has been awarded a significant order, to be booked in the second quarter of 2023, by MODEC to supply gas technology equipment for the BM-C-33 project in the Brazilian pre-salt Campos area. The project is developed by Equinor with partners Repsol Sinopec Brasil and Petrobras. The order comprises of
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Harnessing AI and big data for enhanced reservoir management: strategies and applications
According to EnergyPortal.eu, the oil and gas industry has faced numerous challenges in recent years, including fluctuating oil prices, growing environmental concerns, and the need to optimize production and reduce costs. Companies increasingly turn to innovative technologies such as artificial intelligence (AI) and big data analytics to overcome these hurdles. By harnessing the power of
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OMV and Cognite Extend Collaboration to Accelerate Digitalization Transformation Program
An agreement has been reached to extend and accelerate a digitalization transformation program. According to a news release, Norwegian software as a service company Cognite announced an extension of its long-term frame agreement with OMV, the international, integrated oil, gas, and chemicals company headquartered in Vienna, Austria. Using Cognite’s Industrial DataOps platform, Cognite Data Fusion,
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Shell Makes The Case for 3D Printing in the Oil & Gas Industry
According to 3dprint.com, Oil & gas majors are at what is perhaps the greatest crossroads in their history, with the largest fossil fuel conglomerates bringing in record profits, receiving record amounts of social and political backlash, and facing unprecedented uncertainty in terms of both supply and demand. Beyond the oft-discussed windfall taxes by governments, and
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Acteon Launches Cloud-Based Platform for Offshore Energy Subsea Assets and Data
The offshore energy industry could now have a method to monitor subsea assets in a new way. According to Offshore Energy, Acteon, through its geo-services brand UTEC, has launched a cloud-based platform that gives the offshore energy industry a 360° visualization of subsea assets and data. Designed to meet the needs of the offshore renewable
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DOE Invests $47 Million to Reduce Methane Emissions From Oil and Gas Sector
The Biden administration just made a major investment in methane reduction. According to an announcement from the Department of Energy, the DOE announced nearly $47 million in funding for 22 research projects. These projects are intended to progress the development of new technologies to help detect, quantify, and reduce methane emissions across the oil and
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Chevron Enters Agreement with Norwegian Tech Firm to Digitize Global Assets in Multi-year Deal
An oil and gas major is taking another significant step toward digitalization. According to Offshore Engineer, Kongsberg Digital has entered an agreement with Chevron Technical Center, a division of the U.S. oil major Chevron, to digitize its global assets using Kongsberg Digital’s digital twin technology. The agreement includes a multi-year commitment. “We are extremely pleased
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AI Projected to Grow at 13% Rate in Oil and Gas Market Through Forecast Period
A researcher on business trends is forecasting a major growth in artificial intelligence use in the oil and gas industry. According to a news release, the Business Research Company’s “AI In Oil And Gas Global Market Report 2023” (an information source that covers AI in the oil and gas market) is projecting AI in oil
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NESR Inaugurates Flagship Innovation Center NORI In Saudi Arabia’s Dharan Techno Valley
A major innovation hub is opening in the Middle East. According to a news release, National Energy Services Reunited Corp. (NESR), an international provider of integrated energy services in the Middle East and North Africa region, announced the opening of its NESR Oilfield Research & Innovation (NORI) Center in Saudi Arabia’s Dharan Techno Valley. NESR
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Partnership Made Between Mitsubishi, Magellan X for Maritime, Oil and Gas Digitalization
Two major international corporations have agreed to work together to promote digitalization in oil and gas. According to World Oil, ESG technology company Magellan X has finished a successful trial of the SOL-X innovative safety solution with MC Shipping Ltd., a global shipping company and a subsidiary of Mitsubishi Corporation. Magellan X is known for building
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