The International Association of Drilling Contractors (IADC) has announced the creation of a new industry body called the Well Control Institute (WCI), which will be charged with enacting oil and gas regulations as they pertain to well controls, training, and assessment standards. The group is expected to begin work by mid-2014.
The Well Control Institute
According to the IADC, the WCI was created to provide the oil and gas industry with “a single, universal well-control training and assessment standard.” The organization’s primary focus is to prevent the release of hydrocarbons through improved personnel training. The IADC went on to explain that the creation of the WCI “is a cross-industry initiative to deliver a step-change in operational integrity and well-control incident prevention. The goal is to develop a professional and consistent approach to ensuring competence and credentials of everyone involved in all aspects of well control.”
To determine new oil and gas regulations, the WCI will rely on recommendations from the OGP Wells Expert Committee, the IADC Well Control Advisory Panel, and other industry experts. The WCI will also develop a professional curriculum that will encompass all areas of well construction, as well as specialized disciplines, with particular emphasis on kick detection and well shut-in. In order to ensure learning retention in these areas, the WCI will encourage realistic team simulations and offer continued education, in addition to more frequent assessment opportunities.
Representatives at the IADC believe that new training procedures in these areas are necessary because the current programs reflect outdated methods and regulatory schedules. “The WCI presents a unique opportunity to rethink what needs to be focused on for effective well-control training and to modernize the industry’s training efforts through new methods and technology.”
If you want to learn more about upcoming oil and gas regulations or explore opportunities for your company in the industry, contact the experienced oil and gas attorneys at MAH Energy Law today.
Social Media Blurb: Learn about the WCI and its new oil and gas regulations for 2014.
Source: “IADC forms well-control training, assessment body.” Oil & Gas Journal 27 Aug. 2013: n. pag. Web. 17 Feb. 2014.
Oil And Natural Gas Exploration Yields Results In Canada
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Oil and natural gas exploration efforts in Canada have seen a great deal of success lately, with Statoil ASA making a series of major discoveries near the shores of Newfoundland.
Statoil Makes Canada Discovery
Statoil ASA recently announced its third major discovery in Canada’s Flemish Pass region, an area located just off the shore of Newfoundland. The reserves were found after Statoil drilled into the Bay du Nord, which is located about 500 kilometers from St. John’s, Newfoundland. Statoil discovered oil just months before at its Harpoon prospect 10 kilometers north of the Bay du Nord, and in 2012 it found oil in its Mizzen well, also located in the Flemish Pass region. While the discovery in the Mizzen is estimated to hold between 100 and 200 million bbl of oil, the other two findings are still being evaluated.
To evaluate the potential of these new discoveries, Statoil is using proprietary seismic techniques. Erik Finnstrom, Statoil’s Senior Vice President of Exploration for North America, announced that the most recent discovery is expected to be large, although its full potential won’t be known for some time. According to Statoil Executive Vice President Tim Dodson, the new discoveries are encouraging, and the company is making plans to continue its oil and natural gas exploration efforts in the area. “The Flemish Pass basin is a strategic part of Statoil’s global exploration portfolio,” Dodson said. “We are now planning to return to the area for further appraisal drilling in the future.” Prior to these discoveries, Statoil focused primarily on exploration efforts in the Gulf of Mexico and in Norway, but “with the Bay of du Nord discovery, we now have the makings of a core position in Canada,” Finnstrom said.
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To learn more about oil and natural gas exploration efforts, or to inquire about your own oil and gas holdings, contact MAH Energy Law today.