TAQA profits rocket by 460% as North Sea operation grows
TAQA, the Middle Eastern energy company with growing operations in the UK North Sea, saw net profits rocket by 460% to £173.45million during 2010.
Fisher buoyant on both sides of the North Sea
Marine service group James Fisher and Sons said yesterday its offshore oil arm was seeing an increase in customer activity on both sides of the North Sea.
Oil-sector salaries ‘on the way up’
Salaries in the global oil and gas industry are widely expected to rise this year, according to a new survey.
Dana bosses follow in ex-CEO’s footsteps
A further four senior bosses at Aberdeen oil and gas operator Dana Petroleum have followed in the footsteps of their former chief executive by leaving the company for specialist investment and advisory firm Parkmead Group.
Petrofac boss says Brent surge boosting North Sea investment
Surging oil prices will encourage more investment in UK North Sea oil and gas production, the boss of global energy service firm Petrofac said yesterday.
Cape confident of maintaining share in North Sea
Energy service firm Cape said yesterday it was confident of maintaining its market share in the UK North Sea and would continue to develop opportunities in the Norwegian and Dutch sectors.
Centrica to invest £700m in upstream oil and gas activity
Energy group Centrica said yesterday it would be spending around £700million this year on its upstream oil and gas business.
Call to unlock money for North Sea investment
Decommissioning guarantees could be holding back billions of pounds of North Sea investment, an oil and gas industry economist said yesterday.
Upbeat Wood Group poised to go on the acquisition trail
Wood Group chairman Sir Ian Wood said yesterday he expected the firm to make several acquisitions, including one worth more than £60million, within a year.
EFF looking to double its workforce
ABERDEENSHIRE company EFF Offshore Solutions is eyeing a £1million annual turnover by the end of next year after increases of 53.5% and 20.2% during its second and third years of trading.
Staff on doomed oil rig ‘failed to show engineer test results’
Oil giant BP had workers on the doomed Deepwater Horizon who could have reacted to "unexpected" pressure test readings before the rig exploded, the White House oil spill commission has said.
Unconventional market ripe for UK service firms
UK oil and gas service companies should position themselves to secure a meaningful share of any money spent globally on unconventional production, an industry expert said yesterday.
Sale of Cairn India stake faces further delays
The planned sale of a majority stake in Scottish -owned oil firm Cairn India for up to £6billion could hit further delays, it emerged yesterday.
GE snapping up Wood Group unit in deal worth £1.8bn
Aberdeen energy service giant Wood Group is selling its well-support division to the oil and gas arm of American conglomerate General Electric (GE) for about £1.8billion.
Wood’s iQ move ‘important step’ for workforce
Energy service giant Wood Group is to relocate its corporate headquarters from the south side of Aberdeen to the city centre.
Delegates and exhibitors ‘in buoyant mood’
A record-breaking Subsea 2011 conference and show in Aberdeen has fuelled confidence that a sector leading the oil and gas industry out of recession can keep growing exports.
Nautronix improving its position with senior appointment
ABERDEEN Marine-technology company Nautronix announced a new recruit to the board yesterday.
Hopes for Catcher discovery dented
Partners in the Catcher discovery in the UK North Sea said yesterday new drilling results from the field had been a disappointment.
Outgoing Talisman boss hailed by Oil and Gas UK
CANADIAN oil and gas firm Talisman Energy will part company with a well-known face in Aberdeen business circles next week after a decision by its current UK manager and senior vice-president John Forrest to retire early.
Cairn’s selloff plan stays on track
Cairn Energy's plan to sell a majority stake of its Rajasthan-focused business to Vedanta Resources remains on track, despite fears that the Indian government would block the sale.
OHM begins new chapter following tough year
Offshore Hydrocarbon Mapping (OHM), of Aberdeen, said yesterday a new chapter had opened for the business after the toughest year in its history.
Alba sets up gasket factory in Aberdeen
AN ABERDEEN company supplying gaskets to the oil and gas industry has opened its own manufacturing facility in the Granite City.
Wood considering well-support sale
International energy service giant Wood Group said yesterday it was mulling a sale of its well-support arm.
Energy group to sign long-term lease on prime city-centre site
A new office development in Aberdeen is expected to break the record for commercial rent north of the border.
Aberdeen firm has right tools for growth
ABERDEEN company Deep Casing Tools (DCT) announced plans yesterday to grow its workforce and more than treble turnover over the next year after the launch of new technology for the oil and gas industry.