Monthly Archives: August 2014

Kemp: Joint Petroleum Development in the South China Sea

LONDON, Aug 27 (Reuters) – Shared development of oil, gas and possibly other natural resources is the most promising option for reducing tensions in the South China Sea and should be the focus of efforts to improve diplomatic relations between China and its coastal neighbours.

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Joint development agreements (JDAs) are already common across Asia. Most of the countries with a disputed claim in the South China Sea have signed at least one joint agreement to explore for oil and gas, either in the South China Sea or in neighbouring areas like the Gulf of Thailand and the East China Sea, so there are plenty of precedents to draw on.

OneSubsea, Helix and Schlumberger to Form Subsea Well Intervention Alliance

Houston (August 11, 2014)—OneSubsea™, a Cameron (NYSE: CAM) and Schlumberger (NYSE: SLB) company, Helix Energy Solutions Group, Inc. (NYSE: HLX) and Schlumberger today announced that they have entered into a letter of intent to form an alliance to develop technologies and deliver services to optimize the cost and efficiency of subsea well intervention systems.

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Helix is a leading subsea well intervention provider, with the largest fleet size of well intervention vessels, and an unequalled track record in cost-effective subsea well intervention.  OneSubsea, a preeminent solution provider for subsea well control, with a global footprint of executed major projects, has significant experience in the manufacture and supply of subsea well intervention equipment and services.  Schlumberger is the world’s leading supplier of technology and services to the oilfield, including conveyance systems and in-well technologies for subsea applications.

Schlumberger Russia Update

PARIS, August 12, 2014—Based on a high demand for additional information regarding its business in Russia, Schlumberger Limited (NYSE:SLB) provided the following third-quarter update today:

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In the past week, both the United States and the European Union (EU) have announced economic sanctions and restrictions relating to Russia that is affecting its energy, defense and banking sectors. Schlumberger continues to monitor these events closely to ensure that our activities and actions are in full compliance with applicable regulations.

Schlumberger Launches Industry-First Photorealistic Reservoir Geology Service

STAVANGER, August 25, 2014—Schlumberger today launched the Quanta Geo* photorealistic reservoir geology service at the Offshore Northern Seas Annual Conference and Exhibition.

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The new service includes the industry’s first microresistivity imager that produces oriented, photorealistic, core-like images of the formation in wells drilled with oil-base mud (OBM). Interpretation of the images identifies geological features and predicts reservoir trends in 3D with a high degree of certainty.