Riverstone snaps up Proserv
Energy services firm Proserv has come under new ownership as its owners sold out to a much larger private equity rival.
BP restarts Rhum field
BP will restart the Rhum gas field in the UK North Sea, half-owned by Iran's National Oil Company, four years after the field was shut down due to Western sanctions.
Culzean one step closer
Maersk Oil UK has appointed a contractor to build the wellhead jacket and piles for its £3billion Culzean gas field project in the UK North Sea.
Rovop invests in Europe’s subsea capital
Two subsea companies are upping their presence in the north-east with the creation of two new headquarters in Aberdeenshire’s Westhill area. The area, also known as the subsea capital of Europe, will see subsea specialist Rovop invest £4million in new purpose built headquarters, while subsea robotic company Aleron Subsea is relocating its head office from Singapore to the area.
Oil workers warned about deadly Ebola
North Sea oil workers who have returned from a country affected by the deadly Ebola virus have been advised to stay away from UK offshore installations for at least 21 days, according to new industry guidelines.
Dana unveils proposals to cut 40 jobs
Dana Petroleum yesterday revealed plans to cut up to 20% of its work force as it continues a review of its organisational structure.
Teekay picks Petrotechnics for performance optimisation software
An Aberdeen oil and gas software specialist has signed a £1.6million deal to install its productivity optimisation product across ten FPSOs in the North Sea and offshore Brazil. Teekay Petrojarl, one of the largest operators of FPSOs in the North Sea, has installed software developed by Petrotechnics on its Voyageur Spirit asset.
North Sea tax regime needs “radical changes”, industry body says
The trade body for the UK’s oil & gas sector called for “radical” changes in the tax system as a new report revealed North Sea costs have risen 60% in just three years.
Energy minister says regulator is ‘on track’
Matthew Hancock, the coalition government’s fourth energy minister, has pledged that the new regulator proposed by Sir Ian Wood is on track to be operational in Aberdeen within months.
Total makes targeted buys despite confirming major budget cuts
French oil giant Total has increased its stake in two fields West of Shetland as it presses ahead with its “landmark” £3billion Laggan-Tormore development.
PA Resources warns it will default on loan payments
Swedish oil explorer PA Resources (PAR) has thrown itself on the mercy of it debtors after warning it will default on loan payments worth £13.4million due to political problems in Tunisia.
New body to drive oil & gas technology
Paul Warwick, the executive vice president of Talisman Energy, will chair a new body that will drive forward the use and development on technology on the UK Continental Shelf.
BP fight against £11billion fine could drag on for “years”
Oil giant BP’s appeal against a potential £11billion fine over the Gulf of Mexico disaster could stretch on for years, a note to investors has claimed.
Richard Irvin suffers “one-off” losses
Bosses at facilities management firm Richard Irvin Energy Solutions have said the business has “turned a corner” after the company reported a £3million loss in 2013.
‘No fracking boom’ – expert says
A leading petroleum geology academic has rubbished claims that offshore fracking represents a potential £600billion “black gold bonanza” for Scotland.
Scottish Independence: “one way ticket” for industry
Former chancellor of the exchequer and leader of the Better Together campaign Alistair Darling warned a successful vote for Scottish independence was a “one way ticket to an uncertain destination” for the UK and the North Sea oil and gas industry.
Scottish Independence: Opposing sides at oil debate
The SNP’s Fergus Ewing hit back at claims that the UK government has offered the North Sea oil industry a stable tax regime and said that an independent Scotland would do better.
Iona launches spending spree under new management team
Two North Sea veterans have been appointed to run Canadian independent North Sea explorer Iona Energy as it sets out on the acquisition trail.
‘Independent Scots will seek big sum to clean old wells’
An independent Scotland will negotiate to claw back “substantial” historic oil revenues in order to ensure it can maintain decommissioning tax credits promised by the UK Government, an expert has claimed.
Almost 52,000 trained for new EBS
Almost 52,000 offshore workers have been trained to use a mandatory new emergency breathing system (EBS) as new rules on their use come into for today, the industry safety body has revealed.
Oil & Gas: 2014 looks set to be best in decade
UK oil and gas production is on track this year to be the best year in more than a decade despite a fall in North Sea output in the three months to June compared to the prior quarter.
Norway reserves are the £64billion prize
Norway is sitting on 10 billion barrels in discovered but untapped oil and gas reserves representing a £64billion prize - but “significant challenges” must be overcome in order to maximise the value of these projects, a new report has found.
Sanctions “not hurting Putin”, claims ex-Shell boss
Sanctions that the west has imposed on Russia do not bring results as the popularity rating of President Vladimir Putin is continuously growing, a former oil boss has claimed.
Taskforce calls for north collaboration to keep costs down
Trade body Energy North is to host a match-making event in Aberdeen next week in a move to fill skills and supply chain gaps by facilitating partnerships between businesses in the Highlands and Islands and north east.
ONS: Increased brownfield investment set to boost Norwegian reserves
More than half of the £120billion due to be invested in the Norwegian North Sea in the next decade will be spent boosting oil recovery from existing fields, according to new analysis prepared for ONS 2014.