We’ll be at ONS 2018 – come and see us at stand 9414, hall 9
The welcomed rise in oil prices and increased efficiencies leading to lower project cost estimates are encouraging greater exploration and drilling activity on a global scale.
A report earlier this year from Westwood Global Energy Group suggested global exploration drilling would increase by 12 per cent this year. The UK’s 30th licensing round in May, which saw 123 licenses offered, echoes this increased optimism while Norway’s Ministry of Petroleum (NPD) expects at least 40 exploration wells this year – four up on last year.
The Norwegian government recently approved Equinor’s reduced cost $6billion project to develop the Johan Castberg oilfield in the Arctic – described as a ‘breakthrough” by the company in its deepwater strategy - while Schlumberger expects its deepwater drilling activity to increase by 10 percent this year and to increase again in 2019.
At Eisenbau Krämer, we are also seeing a strong outlook with a number of key projects progressing past the final investment decision (FID).
An increase in drilling has encouraged additional buying activity, specifically in the area of OCTG, and the demand for structural steels and specialised products, such as corrosion resistant alloys, remains strong.
What’s your view on the current state of the oil and gas industry? We’d be keen to hear from you.
As a world market leader in large diameter welded steel pipe production for our three specialised production bases in Germany, the European oil and gas market is extremely important to us. That’s why we’ll be exhibiting at ONS in Stavanger, Norway, from August 27-30.
Stop by stand 9414, hall 9 and share your thoughts with our team. We’d also like to hear about your pipe challenges, and discuss how help to solve them.
Contact Pascal at p.bayram@ to arrange an appointment or visit our website www.ebkpipe.com for more information on how our innovation can help you increase efficiency and reduce your pipeline costs. ebkpipe.com