In the face of depleting fields and increased energy demand, operators and suppliers depending on the Norwegian Continental Shelf (NCS) need to seriously address chronic concerns or face riding the decline curve for the foreseeable future, according to industry leaders.
Norway presents a unique opportunity to the independent explorer due to its very favourable tax credit system, to help with exploration costs, and the sheer scale of the under-explored continental shelf.
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.
The Saudi Arabian national oil company has revealed plans to more than double its exploration efforts in order to make up a widening shortfall in global oil and gas reserves.
Swire Oilfield Services has roped in the expertise of military logistics professionals and the retail sector to create a sophisticated tracking device aimed at alleviating the issues of a stretched supply chain.
Glasgow organisers have predicted a key renewable energy conference will start to grow attendance numbers again after relocating from its home in Aberdeen.
The UK Government has assembled all the right tools in place to start taking action towards implementing the Wood recommendations, believes Oil & Gas UK economics director and the report's co-creator.
Oil and gas representatives and government figures discussed the progress the sector has made towards putting the UK Continental Shelf (UKCS) activity back on track at the first Oil & Gas UK conference.