Tests prove gas find in North Sea field
VENTURE Production, said yesterday it had successfully tested a well to appraise the Cygnus gas field, and that it believed the southern North Sea field would be a core asset for many years.
Oil & Gas
Showcasing cutting-edge subsea technology
When the chief executive of Subsea UK starts talking excitedly about the ground-breaking work being done in the sector, it is hard to not to be bowled over by the idea that recession-hit Britain has at least one industry going places.
Bad news for workers at troubled OHM
Troubled Aberdeen firm Offshore Hydrocarbon Mapping (OHM) dealt a further blow to its workforce yesterday, with news of about 40 further job cuts.
£360m BG bid for Pure on the table
OIL and gas operator BG Group threw down the gauntlet to bid rivals yesterday with a £360million offer for Australian coal-seam gas producer Pure Energy.
Bristow regains North Sea contract
BRISTOW Helicopters has won back a North Sea contract.
Moody’s downgrades view of oilfield service sector
Rating agency Moody's said yesterday it had changed its outlook for the global oilfield service sector to "negative" from "stable".
Infield predicts £56bn subsea spending
Infield Energy Analysts is forecasting that, between 2009 and 2013, global subsea-sector expenditure on subsea equipment and drilling and completion will exceed £56billion.
Alarm over hundreds of offshore incidents
Health and safety experts are called to investigate a serious incident in the North Sea oil and gas sector almost every day, new figures revealed.
Stable Services’ global ambitions on track
ABERDEEN oil field products firm Stable Services said yesterday it was on track for achieving 50% of total turnover from international sales following a £2million investment in global expansion in 2008.
Cash-rich TAQA looking for further acquisition targets
The UK arm of Abu Dhabi national energy company TAQA said yesterday it was in the market for acquisitions.
Help considered for offshore operators
AN INQUIRY into the oil and gas industry by MPs may consider the need for the UK Government to help small offshore operators hit by the credit crunch.
Police move to step up North Sea oil security
Grampian Police became the first force in Scotland yesterday to appoint an energy adviser in an attempt to improve security in the North Sea oil and gas industry.
Nautronix planning to boost workforce further this year
ABERDEEN firm Nautronix, which designs and makes electronic marine technology products for the oil and gas industry, increased its payroll by 16% to 71 in the year to June 30, 2008, and it is on target to add a further 10 to its workforce in the current year, its managing director Mark Patterson said yesterday.
Dana buoyed by bullish update on operations
Dana Petroleum, the Aberdeen-based oil and gas operator, saw its shares rise sharply yesterday after it gave a bullish update on its exploration success and outlook.
ONS parent secures bankruptcy shield
CANADIAN oil and gas operator Oilexco, whose UK subsidiary Oilexco North Sea (ONS) is in administration, has obtained a court order for bankruptcy protection under Canadian law.
Prospects looking good for Wave Treader
ENGINEERING design and analysis firm Prospect Flow Solutions (PFS), of Aberdeen, has come up with a novel way of combining wind and wave energy.
Banks call for immediate payment of loans to Oilexco
OILEXCO, the Canadian oil and gas company whose assets are held principally through its UK North Sea-focused subsidiary Oilexco North Sea (ONS), has said it has received demand letters from the Royal Bank of Scotland, on behalf of itself and other lenders, for immediate repayment of loans.
Chapman: BG Group has right strategy for growth
BG Group yesterday reported record earnings for 2008, up 72% on the year before.
Brunnen group’s new UK subsea boss
OIL and gas engineering and construction company Aker Solutions has announced the appointment of Aberdeen-based Alan Brunnen as managing director of its UK subsea business.
Aberdeen company applauded in Texas
OIL service company Petrotechnics has been voted one of the best companies to work for in Texas only a year after opening an office in the US state.
Offers for oil group now being considered
MANY parties are interested in acquiring the whole of Oilexco North Sea (ONS) and its assets, according to administrators at Ernst and Young (E&Y).
Fresh hope for offshore sector over tax incentives
The offshore sector was given fresh hope last night that a package of tax incentives designed to maintain vital investment will be introduced, despite the collapse in the price of oil.
UK major adding to North Sea workforce
OIL giant BP said yesterday it had no plans for fresh job cuts at its North Sea HQ in Aberdeen.
Market outlook ‘uncertain’ as projects delayed
Oil and gas engineering and construction contractor Subsea 7 said yesterday the market outlook was uncertain for the medium term as a result of the economic climate.
Marathon cutting back on exploration
MARATHON Oil has announced a £4billion capital, investment and exploration budget for 2009, a 24% decrease from last year's.