Gallery: A look back at Brent Alpha and Bravo
Following the announcement by Shell that production on the Brent Alpha and Bravo platforms will finally cease from November 1, Energy Voice takes a look back on its 40 year history in the North Sea.
Nostrum sees profits and production rise
Nostrum Oil and Gas has seen a $58million increase in its income over the last nine months despite a dip in oil prices. The independent oil and gas company has seen an average daily production of 45,204 boepd (barrels of oil equivalent per day), which was above the estimated average of 45,000 boepd. Revenue for 2014 is expected to be in excess of $620million.
Cambay Field discoveries higher than expected
Australian explorer Oilex has announced significant progress at its Cambay Field in India. The company said the hydrocarbon liquid to gas ratio (LGR) found during flowback at the Cambay Field was an estimated 250% higher than expected. During flowback it has been 100 bbls (oil barrels) of liquids per MMscfd (Million Standard Cubi Feet Per Day) of gas.
Centrica weathers another leadership change
Centrica, the UKs biggest energy supplier, has announced its managing director of international downstream Chris Weston, will leave the company in December. Mr Weston has been with company for the past 11 years, leading a number of businesses in both North America and the UK.
Calling all ‘Young Energy’ students
Oil and gas students have one final chance to enter into an industry wide competition and meet Scottish Energy Minister Fergus Ewing and more than 150 senior representative from across the industry. In the run up to skills week Opito has been engaging with people across the industry by giving them the chance to submit a photo with the caption #Iamoilandgas when posting a photo on Facebook or Twitter.
GDF Suez strikes wind farm contract deal
GDF Suez has struck a deal with a community windfarm on the Isle of Lewis to buy all the electricity generated from it. The Power Purchase Agreement (PPA) with Beinn Ghrideag windfarm is the first such agreement of its kind with a community owned renewable generator.
Statoil invests $1.5billion in North American project
Statoil will invest $1.5billion in the Stampede development in the Gulf of Mexico. The Norwegian company owns a 25% share in the project which is operated by Hess. Stampede consists of Green Canyon Blocks 468,511 and 512 and there are an estimated 350million barrels of recoverable oil.
Carbon companies ordered into liquidation
Carbon copy investment companies found by a court to have misled clients have been ordered into liquidation. Both Carbon Green Capital and Agora Capital were found by the High Court in London to have made false claims about investment returns. A petition against the companies was presented to the High Court by the Secretary for Business, Innovation and Skills, Vince Cable. The companies were accused of selling carbon credit investments which were misleading, raking in almost £1million in profit. Chris Mayhew, Company Investigations Supervisor, said: “This formally brings to an end the activities of two heartless companies that claimed to pride themselves on the investment returns for clients but who in truth were peddling near worthless carbon credits, which in some instances they even failed to supply, raising approaching £1million from the public”. “Far from the claimed world class investment services dedicated to helping clients, these companies were dedicated only to helping themselves. “I would once more urge investors not to respond to cold calling investment sharks as you stand to gain nothing and risk losing everything. Simply end the call, not your savings. “The Insolvency Service will not allow rogue companies to rip-off vulnerable and honest people and will investigate abuses and close down companies if they are found to be operating or about to operate, against the public interest."
Tekmar Energy nets wind farm contract
Cable production specialist Tekmar Energy has been awarded a major contract by VBMS to supply one of its innovations to the a windfarm project in the Netherlands. The contract award will see the company’s TekTube used on the Westermeerwind near-shore windfarm.
Opito appoints former Nimrod crew member as MD
The new managing director of Opito said there are “significant parallels” between the RAF and the oil and gas industry.
GMS wins new vessel contract
Gulf Marine Services (GMS) has been awarded a major contract for one of its large class vessels. The vessel will be used to help carry out well service and maintenance work in the Dutch sector of the North Sea in the second quarter of 2015.
Total appoints new refining and chemicals president
Philippe Sauquet has been appointed as the new president of refining and chemicals with Total, following Patrick Poyanne’s promotion to chief executive officer. His appointment follows the death of Total boss Christophe de Margerie earlier this month in Russia.
Eni makes oil discovery in Congo
Eni has announced its third quarter results alongside the discovery of up to one million barrels of oil in the Congo. The company posted its third quarter results, which showed net profit of €1.71billion was down by 57% since the same time last year.
Cairn Energy confirms strong financial position
Cairn Energy confirmed a strong financial position as it prepares to carry out work in the North Sea. Group cash for the year so far has tallied up to $953million. The firm also confirmed it was fully funded to a free cash flow for the next two years. The firm's Catcher and Kraken development in the UK North Sea are poised for first oil in 2016 and 2017, according to the firm.
NAP has success in Louisiana
North American Petroleum (NAP) has seen production from its Shoats Creek Project increase by a third. The company holds a 35% interest in the area alongside Northcote Energy with 35% and Springer Oil and Gas with 30%.
Aibel to cut 300 jobs
Norwegian oil, gas and renewables engineering and construction firm Aibel is set to cut 300 jobs. The company said the employees in Stavanger, Oslo, Haugesund and Stjordal would be affected by the move.
Atlantis Resources signs 10 year seabed deal
Atlantis Resources has signed a 10-year seabed sublease with the Fundy Ocean Research Centre (FORCE) in Nova Scotia. The sublease will provide Atlantis with a berth for tidal turbine deployment in the Bay of Fundy within the area allocated to FROCE under its head lease agreement.
ROC production dips by 6%
Roc Oil Company (ROC) has announced its third quarter results with production dropping by 6% following platform shutdowns. The company recently announced it would be taken over by Fosun International in a $441million deal.
BW Offshore wins contract extension
Floating production ship contractors BW Offshore have been given a two year contract extension for the lease of their vessel the Berge Helene. The deal with PETRONAS Carigali Mauritania 1 will now end in 2017, rather than the second quarter of 2015.
UKOG submits bid in 14th licensing round
UK Oil and Gas (UKOG) has submitted a bid for a 200km area covering the Southern part of the Isle of Wight as part of the UK 14th landward licence round. The company said its board had drawn the first $1million of a new $10million unsecured debt facility to submit its application.
Chevron to invest $6billion in Stampede project
Oil major Chevron will invest an estimated $6billion in the development of the Hess Corporation operated Stampede project in the Gulf of Mexico. The company’s subsidiary, Union Oil Company of California (Union), will run the deepwater subsea development which will be tied back to a newly constructed Tension Leg platform.
North Sea collaboration could cut carbon emissions
Collaboration by North Sea states will help tackle Europe’s carbon emissions, an international gathering of CCS (Carbon Capture and Storage) emission experts will hear. The SCCS (Scottish Carbon and Capture Storage) annual conference will tell politicians, industry experts and academics that the combined efforts of the industry could see hundreds of years’ worth of Europe’s carbon emissions stored.
New board member appointed after Fosun takeover
Australian explorer Roc Oil has appointed a new non-executive director to its board as a nominee of Transcendent Resources Limited (Fosun). Bin Zhao will become a board member of the wholly-owned subsidiary, after approval of the Fosun offer was made earlier this month.
Rolls-Royce lands £24m subsea contract
Power systems company Rolls-Royce has been awarded a £24million subsea contract for work in Norway. It will supply a module handling system to the subsea construction vessel Aker Wayfarer, which was built in 2010.
Total sells Norwegian assets
Total has agreed to sell off its interests in a number of Norwegian assets for $317million. An agreement has been signed by Total E&P Norge AS to sell off 8% of its shares in the Gina Krog field, together with its interests in the mature fields of Vilje and Vale at 24.23% and 6% share in Morvin to PGNiG Upstream International.