Technology & Innovation

Baker Hughes releases adaptive drill bit

BAKER Hughes has announced the commercial release of its TerrAdapt adaptive drill bit, which it says can deliver dramatic improvements in drilling economics by using automation to mitigate downhole dysfunctions that cause inefficient drilling and costly tool failures. The company said that the release contains the industry’s first self-adjusting depth-of-cut (DOC) control elements, with the TerrAdapt bit automatically changing its aggressiveness based on the formation through which it is drilling

Siemens achieves breakthrough with 3D printed gas turbine blades

Siemens has achieved a breakthrough by finishing its first full load engine tests for gas turbine blades completely produced using Additive Manufacturing (AM) technology. The company successfully validated multiple AM printed turbine blades with a conventional blade design at full engine conditions. This means the components were tested at 13,000 revolutions per minute and temperatures beyond 1,250 degrees Celsius. Furthermore, Siemens tested a new blade design with a completely revised

Siemens brings a digital revolution to the oil and gas industry

    Global engineering and manufacturing powerhouse Siemens believes that digitalisation can provide a significant breakthrough in assisting the oil and gas industry to become more efficient and to meet the challenges of a “lower for longer” commodity price regime. Dr. Vladimir Navrotsky, Head of Technology and Innovation at Siemens Energy Service, Oil & Gas and Industrial Applications, describes digitalisation as the fourth industrial revolution and says it is also

GE and SKF to investigate active magnetic bearings

GE Oil & Gas and SKF have signed a non-exclusive licence-based collaboration agreement aimed at further developing the use of active magnetic bearing technologies within the oil and gas sector. As part of the agreement, GE Oil & Gas will make use of SKF’s magnetic bearing technologies from front-end engineering design to installation, testing and service to customers. The partnership also provides the basis for future collaboration, to widen the

Platts maps uncompleted wells

INTERNATIONAL energy market specialist S&P Global Platts has launched Platts WELLSCAPE P2P, a new product to help upstream market analysts identify drilled but uncompleted (DUC) wells. Platts, through its recent acquisition of RigData, has leveraged the experience and data history necessary to meet market demand for insight into the status of the in ground oil and gas inventory. “Platts WELLSCAPE P2P has been developed based on the needs of three

CGG introduces new reservoir characterisation software

CGG GeoSoftware has announced a series of innovative software releases across its reservoir characterisation product portfolio. The compnaysays its InsightEarth 3.1, Jason 9.6, PowerLog 9.6, EarthModel FT 9.6 and VelPro 9.6 products offer more productive workflow solutions to address the challenges associated with more complex reservoirs. Anisotropic inversion, depth inversion and broadband wavelet estimation are some of the key technologies in Jason 9.6 to benefit from significant updates. Coming out

ACE Winches announces new 500te Linear Winch

ACE Winches has announced a new 500 te Linear Winch to its range of specialised deck equipment. The new 500te Linear Winch has been designed, engineered and manufactured at ACE Winches facilities in Aberdeenshire, UK.  The company said the new product is now in its final stages of FAT testing, with mobilisation scheduled for mid-December 2016 for its first contract.  The contract will conclude in early 2017 when the unit

Baker Hughes says new bits drill faster and further

BAKER Hughes has announced the commercial release of its line of Kymera XTreme (XT) hybrid drill bits, designed to help oil and gas operators lower their well construction costs through faster and more durable drilling performance. The company said the bits -which combine the strengths of PDC and tricone bit technology – offer the smooth, consistent performance of previous generations of hybrid bits, while dramatically improving penetration rates and run

FAG technology cuts a full day from ship’s pipe reel bearing replacement

FAST, safe and versatile FAG medium frequency induction heating technology has demonstrated its value in service with one of the world’s leading subsea engineering and construction companies in the oil and gas sector, Subsea 7. The FAG induction technology – being introduced to Australia and New Zealand by Schaeffler Australia – was used to reduce the complexity, cost and in-port time to repair a major reel bearing on one of

PPR-TV: Peppermint Innovation Ltd (ASX:PIL) Investor Update

Peppermint Innovation Ltd (ASX:PIL) provides an update with Managing Director, Chris Kain, on the company’s achievements, delivered in a short time frame, and the significant growth opportunities on the horizon. Peppermint is a real business generating real revenue and has genuine partnerships in one of the world’s largest remittance markets, the Philippines, where the company offers services to both the banked and the unbanked. During the interview, Managing Director Chris