Signs claimed of evidence of mid-Atlantic oil
Evidence is growing that oil may be found in the Dreki area north-east of Iceland, according to Orkustofnun, the National Energy Authority of Iceland (NEA).
Oil & Gas
Capacity remains an issue despite UKCS downturn
IAN Burdis agrees that the North Sea still presents exciting opportunities for development, with encouraging discoveries and clear development candidates such as Breagh, Rinnes, Huntingdon and perhaps Cladham; also Laggan/Tormore, Rosebank/Lochnagar, Fyne & Dandy, Causeway and Columbus helping to buoy the UK industry.
Rig rates: $350,000 in January and $300,000 last week – could they drop to $250,000?
For months, the North Sea has been teetering on the edge - $40 oil isn't enough to sustain the flow of mini-projects needed to assure reasonable health, though large developments and cash-cow production appear secure.
Norway’s petroleum safety watchdog – standards just not good enough
February's ditching of a helicopter at the BP-operated ETAP fields complex has once again raised safety concerns in the UK North Sea, even though there were no casualties and injuries were relatively minor. It emphasises the vital need to keep on top of safety and to learn from the past where possible.
Attracting fresh talent to gas patch
Over the next 10 years, it is estimated that the international LNG (liquefied natural gas), LPG (liquefied petroleum gas) and wider natural-gas industries will be faced with losing up to 50% of their most senior workers.
North Sea flying high on safety of workers
The survival of all on board the helicopter that ditched into the North Sea 125 miles east of Aberdeen on February 18 is testament to the UK oil&gas industry's hard work over the last two decades in ensuring the safety of its offshore workers.
Iraq – opportunity versus fear
As foreign military forces withdraw from Iraq, a new army of foreigners is beginning to enter this beleaguered but resource-rich country armed not with combat skills and weapons, but with expertise in technology and skills honed in the international energy industry.
Like ostriches with heads in the sand
A couple of weeks ago, I spoke at a conference in Edinburgh entitled Powering Scotland, which took a serious look at whether or not the provisions are in place to keep the lights on over the next decade or so.
Good news – and bad
Scotland has a company called Scottish Bioenergy that has developed a bioreactor which uses a mixture of algae and water to strip carbon dioxide from flue gas and convert it to oil and proteins.
Don’t just screw supply chain
I don't chew my fingernails, or at least not since I was a schoolboy. It doesn't mean that I don't worry, because I do. I simply torture myself in other ways. However, there are heaps of adults who do chomp away at their nails and, pound to a penny, there's rather a lot of that happening throughout the upstream oil&gas patch right now, especially in major centres such as Aberdeen, Calgary, Houston and Stavanger, as the screws tighten on the supply chain.
Pioneering Azurite Africa-bound on maiden voyage
Prosafe Production's innovative hybrid Azurite floating, drilling, production, storage and offloading vessel (FDPSO) is on its maiden voyage en route from the Keppel Shipyard in Singapore to its first contract - working offshore the Republic of Congo.
Chilly times for decommissioning sector?
As the UK weathered Arctic conditions last month, the key players in the decommissioning sector gathered in snowy Bergen at the ninth annual conference organised by the Norwegian Petroleum Society. Was the chill at home reflected in the atmosphere inside the conference?
Gaddafi urges power to the people
Muammar Gaddafi wants Libya's Basic People Congresses to support his proposal to dismantle the government and turn over its oil wealth to the people themselves. Oil is worth $32billion a year to this North African state of five million.
Global expansion heralds 400 more jobs for the north
Northern Scotland's Global Energy Group predicts turnover for 2009 to leap to £170million, compared with £130million last year. The firm's chairman, Roy MacGregor, also expects to recruit another 400, mostly engineering and fabrication, personnel over the same period, which is twice the forecast of just of a few weeks ago.
Developer with offshore oil pedigree primed for maritime wind big push
Mid-February saw the Crown Estate make a number of acreage allocations in Scottish waters to would-be offshore windfarm developers.
Sevan Marine considers bid for one of its rigs
Sevan Marine, the "round rig" oil operator, said yesterday it had received a preliminary bid for one of its rigs.
Marathon Oil UK earns accolade
AN OIL company which has its headquarters in Aberdeen has been named as one of the best companies to work for in the UK for the third year running.
Wood Group to issue year-end results
INTERNATIONAL energy services company Wood Group, which has its headquarters in Aberdeen, is to issue its year-end results on Tuesday.
Expert to create offshore technology centre at UHI
A LEADING engineer will help to create an offshore technology research and teaching centre in his new role as visiting professor with UHI.
Oil cash ‘should benefit all Scots’
SHETLAND Islands Council has backed calls for Scotland to get a share of North Sea oil revenues.
Drilling contractor takes heart from higher income
NORTHERN Offshore, the Oslo-listed oil and gas drilling contractor, has reported a significant increase in earnings in 2008 compared to the year before.
Ramco seals deal for Iraq joint venture
Ramco Energy of Aberdeen said yesterday the joint venture between state-owned Iraqi Drilling Company and Ramco's 32.7%-owned Mesopotamia Petroleum had agreed a deal to explore for oil in the Middle Eastern country.
Hunting eyes potential acquisitions
Hunting, the international energy services company, said yesterday it was focused on four acquisitions - one with operations in Aberdeen - and was confident deals could be concluded within two months.
Oil industry warned over impact of downturn
THE former vice-president for the UK with oil field services giant Halliburton said last night in Aberdeen that the oil industry was used to price-driven "boom and bust" cycles, but the present cycle was totally unexpected.
Focus on core services is paying off, says Cosalt
Cosalt, which provides safety equipment and services to the offshore oil and gas and marine industries, said yesterday that after exiting its last legacy businesses its focus on core services was paying off.