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New Technology Magazine is the best source for stories about new and cost-saving technologies in the upstream oil and gas industry.

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Arctic Spring

The Arctic may soon be home to a new species—an un-manned metal monster that burrows deep into the sediment, searching out vast deposits of oil and gas. Seabed Rig AS, based in Stavanger, Norway, has spent over ­$50 million in conjunction with partners Statoil ASA, Shell International B.V. and ConocoPhillips Company to develop a rig that would sit on the ocean floor. The rig would be remotely controlled through an interactive 3-D interface located on a surface vessel above. The rig is sealed to prevent contamination of the surrounding water, and has zero-liquids discharge during operations.

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