EMERGING TECHNOLOGY

Saudi Aramco and Schlumberger developed new reservoir-fluid-movement monitoring technology to manage flow-monitoring challenges in carbonate reservoirs. The joint effort resulted in the development of an interpretation method with verification of an experimental electrode-array resistivity measurement technique that allows measurement of changes in water saturation over time at different distances from the wellbore.
Ivanhoe Energy announced the successful demonstration of the third and final processing configuration to be tested at the company's heavy-oil upgrading facility, which positions the firm to proceed with the design and construction of a full-scale commercial facility.
Petroleum Geo-Services (PGS) launched its Next Generation Streamer technology, designed to provide higher-quality seismic data to image the subsurface and help reduce E&P decision risks. Field trials in the North Sea and the Gulf of Mexico (GOM) indicate that the streamer system can deliver data that improved image clarity for all depths. PGS will conduct a 2D campaign with the new streamer system to show results to the market.
Landmark and Statoil signed an agreement to jointly create a geoscience interpretation software system for Statoil’s basin- and prospect-scale exploration activities. Both companies will contribute USD 6.5 million to the 3-year, USD 13-million project. The resulting system will enable Statoil to evaluate exploration potential in some of the largest study areas ever analyzed by an oil and gas company.

MERGERS AND ACQUISITIONS

Atlas Energy Resources acquired DTE Gas and Oil (DGO) for USD 1.225 billion. DGO owns interests in 2,150 natural-gas wells producing from the Antrim shale, located in Michigan’s northern lower peninsula. The Antrim shale is a mature play characterized by long-lived reserves and predictable production rates.
TGS-Nopec Geophysical acquired Parallel Data Systems, a seismic-imaging specialist firm with 21 employees and offices in Houston and Dallas.
Schlumberger acquired Insensys Oil and Gas. Schlumberger’s fiber-optic measurements and subsurface-surveillance domain knowledge will be integrated with Insensys’ nonintrusive fiber-optic subsea integrity surveillance technology to create product offerings designed to reduce technical risk in deepwater subsea developments.
IHS acquired Geological Consulting Services (GCS), a provider of formation-tops data files in electronic and other media covering south Texas, east Texas, north Louisiana, south Arkansas, Mississippi, Alabama, and Florida. GCS developed a database containing information on more than 120,000 oil and gas wells, with each well offering an average of 20 correlated tops.
Forest Oil completed its acquisition of The Houston Exploration Company. Houston Exploration’s onshore North American asset base consists of assets in south and east Texas, the Arkoma basin, eastern Colorado Niobrara, and the Uinta basin. This move will add a significant inventory of low-risk repeatable play drilling opportunities to Forest’s portfolio. Forest paid USD 750 million and issued 24 million shares for the acquisition.
Aker Kvaerner acquired 50% of Phoenix Polymers International. Phoenix develops and manufactures buoyancy and polyurethane products for the oil and gas sector and is a supplier of flotation elements to Aker Kvaerner’s deepwater marine drilling-riser projects. The company will continue to trade under the name Phoenix.
Proserv Offshore acquired Twachtman, Snyder and Byrd, a provider of well-abandonment and -decommissioning services to the offshore market. Proserv Offshore is a Houston-based subsidiary of Proserv Group, a company that provides technical products and services to the oil and gas industry.
Acteon acquired Pacific Management Technologies Incorporated (PMTI). Based in Ventura, California, and Houston, PMTI employs 70 people with project-management services in production facilities and operations, drilling and production services, and decommissioning. The company will be named InterAct PMTI.

CORPORATE MOVES

Merrick Systems expanded its Lafayette, Louisiana, office. Merrick’s Lafayette office continues to serve as a key development center and provides support for many GOM clients.
John Wood Group opened a service facility in Qatar. Wood Group Engineering Services Qatar specializes in servicing pump, compressor, and valve equipment used in the power and oil and gas industries.
Aker Kvaerner opened an integrated subsea oil and gas center in Malaysia. The center is located in Port Klang Free Zone, Pulau Indah, Kland. The manufacturing center will employ 1,000 technicians, engineers, supply-chain personnel, and managers. Center activities will include machining, assembly and testing of subsea trees, manufacturing of control valves and couplings, and fabrication of subsea manifolds and structures.

CONTRACTS AND TENDERS

Pride International was awarded a 5-year contract for the semisubmersible rig Pride Mexico for drilling operations offshore Brazil by Petrobras. The contract is expected to start during the second quarter of 2008, following an estimated 270-day shipyard program and subsequent mobilization from the GOM to Brazil.
Statoil signed a cooperation agreement with Gazprom Neft to examine potential joint exploration and production projects in Russia. Statoil’s main contribution to the cooperation is its offshore technology, especially in the areas of exploration, Arctic development, and the execution of large-scale projects such as the Snøhvit field development in the Barents Sea.