Perth-based energy exploration company Kinetiko Energy has provided an update on the company’s operational activities and significant new exploration commencing and specifically the first new gas wells being drilled in over eight years

SPM Oil & Gas in Dubai, a leading upstream provider of systematised pressure pumping and pressure control equipment and services, has announced the availability of its new KOP AM20 Series Gate Valves 

The KOP AM20 Series Gate Valves reduce NPT and the risk of catastrophic well loss while lowering inventory costs.

The KOP AM20 Series Gate Valves allow and shut-in flow for every operation of the wellhead, tree system and choke and kill manifolds — from drilling and completion to pumping and production. The KOP AM20 Series offers unprecedented safety by ensuring a gas-tight seal from pressures as high as 10,000 psi to as low as 50 psi. An advanced coating guards against high wear, corrosion resistance and low friction factors for low operating torque.

The KOP AM20 Series also meets stringent requirements and is qualified for API 6A Annex PR2F, API 6FA fire test, API 6AV1 sand slurry test, extended low gas pressure hold test, endurance cycle test and sea water corrosion test. The actuated KOP AM20 Series surface safety valves are qualified to Annex F PR2F, API 6FA and API 6AV1 Class II.

The KOP AM20 Series features a simplified design that is not only smaller and lighter for greater cost savings but also provides part interchangeability to simplify inventory requirements. The KOP AM20 Series withstands harsh conditions for more than 600 endurance cycles—representing a 60-year lifespan—without grease injection. The KOP AM20 Gate Valves increase the maintenance period by 50% as compared to other gate valves in the market. This will reduce valve maintenance cost by at least 50%.

“Our new KOP AM20 Series Gate Valves enable operating companies and drilling contractors to satisfy today’s well integrity qualifications while lowering their assets’ life cycle costs, enabling them to more effectively compete in the marketplace,” said Ronan Le Gloahec, president of SPM Oil & Gas Eastern Hemisphere.

From North America to the Eastern Hemisphere region, SPM Oil & Gas can solve customers’ engineering challenges and improve oil and gas operators’ efficiencies with a comprehensive global product offering and localised service capabilities that meet the needs of each operating environment.

Sasol and the Central Energy Fund (CEF) have signed a MoU to collaborate on accelerating the development of gas solutions in South Africa

According to GlobalData's report, H2 2021 Global Bid Round Outlook – licensing rounds in 2021 remain low due to the impact of COVID-19

Over 35% of the acreage available in licensing rounds that are either open or scheduled to close in H2 2021 are located in shallow water, while ultra-deep water and deepwater acreage account for 24% and 19%, respectively, according to GlobalData, a leading data and analytics company.

GlobalData's report also reveals that in H2 2021, 16 licensing rounds that are open are expected to close by the end of the year. 

Asia is hosting the largest number of licensing rounds in H2 2021 with six, followed by South America with three.

Among the rounds which are scheduled to close in H2 2021, Malaysia is offering the largest volume of acreage in the PETRONAS Licensing Round 2021 (MBR 2021), which will be held in August 2021. Malaysia is followed by the 2021 Offshore Acreage Release Round in Australia, and the International Bid Round 2021 in Egypt.

Nikolas Pachipis, oil & gas analyst at GlobalData, commented, “Ongoing financial discipline and cuts in the exploration budget by many upstream companies could push exploration activities toward mature basins and areas with existing infrastructure. Companies with high capital availability in the current environment may be in an advantageous position to participate in licensing rounds and capitalize on reduced service costs and competition.”

Among countries, Australia, Brazil, Canada, India, and Indonesia are expected to host a major portion of the licensing round activity that is scheduled to close in H2 2021.

Equatorial Guinea's minister of mines and hydrocarbons (MMH) Gabriel Mbaga Obiang Lima has issued a mandate during a virtual meeting for all oil and gas workers to be vaccinated against the coronavirus