Dana lowers its output expectation
DANA Petroleum, the Aberdeen oil and gas operator said yesterday its production in 2008 was expected to average about 39,000 to 40,000 barrels of oil equivalent per day (boepd), representing 30% growth over 2007.
Oil & Gas
TAQA boss has lofty aspirations
As a youngster in his home country of Holland, Leo Koot was fascinated with the sea and the adventures that might be awaiting him abroad.
Well-intervention innovation rewarded
STATOILHYDRO received the innovation award yesterday at the 14th European Well Intervention Round Table.
Rockhopper ups estimates for Falklands oil reserves
ROCKHOPPER Exploration, the South Atlantic oil and gas explorer, said yesterday it had increased its estimates of recoverable reserves in two licences in the North Falklands Basin from 1.2billion to 1.8billion barrels of oil.
Job cuts in pipeline at PSL – claim
North-east firm PSL Energy Services is believed to be planning to axe at least 50 posts, it emerged yesterday.
Oil find sends EnCore shares rocketing 23.5%
Encore Oil has announced an oil find at the Bowstring East prospect in the UK northern North Sea.
SCDI calls on Chevron chief’s energy expertise
THE Scots-born vice-chairman of US oil and gas group Chevron, Peter Robertson, will be keynote speaker at the Scottish Council for Development and Industry's annual lecture in January.
Fortunes of oil and gas juniors nosedive as confidence wanes
A crisis in confidence has led to a nosedive in the fortunes of oil and gas firms on the Alternative Investment Market, according to Ernst and Young.
Craig Group’s performance rounds off celebrations
Global shipping and energy services company Craig Group, of Aberdeen, is rounding off its 75th anniversary celebrations in bullish mood following a strong set of annual results
Faroe gains new licences in North Sea
Results from the UK's 25th offshore licensing round emerged yesterday, with announcements by a number of the successful companies.
Aberdeen firm’s owners cash in by £10m from takeover
The owners of Aberdeen firm Containental Offshore have benefited to the tune of more than £10million after the acquisition of the business by investors led by London-based private equity firms Lansdowne Capital and Claver Capital.
Second largest energy supplier in bid to slash bills next year
The UK's second biggest energy supplier said yesterday it hoped to cut household energy bills early next year.
North Sea licensing stampede lifts gloom
A record offshore licensing round last night lifted the gloom cast by yesterday's news of soaring unemployment and fears of an even deeper recession.
Energy firms urged to stay calm
Oil and gas companies were urged yesterday to avoid any kneejerk reaction to big movements in the oil price.
Shell geologist shines at industry awards
THE winners of the Oil & Gas UK Awards 2008 were announced at a ceremony last night.
Shutdown to prove costly for Venture
VENTURE Production said yesterday that before last week's shutdown of its operated Kittiwake platform it had expected this year's average production to be around 45,000 barrels of oil equivalent per day (boepd).
Schlumberger hails new expansion
ENERGY service giant Schlumberger yesterday hailed the opening of a £470,000 extension to an operations support centre in Aberdeen, saying it was the result of business growth in the north-east.
Making an impact
When energy company Petro-Canada made its North Sea debut by acquiring the assets of Veba Oil and Gas in 2002, the UK North Sea was just getting to grips with a new era.
Energy sector ‘will continue to invest’ despite turmoil
The North Sea oil and gas business is not on the edge of any investment precipice due to current worldwide financial turmoil, an industry leader stressed yesterday.
Partnership to bid for offshore windfarms
Utilities ScottishPower Renewables and Vattenfall have agreed a partnership to make joint bids in the third round of offshore wind power development in the UK.
Ithaca completes Beatrice deal
CANADIAN oil and gas operator Ithaca Energy said yesterday it had completed the £10million leasing of the Beatrice oil field and Nigg oil terminal from Talisman Energy and had taken over operatorship.
Innovative partnerships crucial to sector’s success
THE oil and gas industry needs to think "outside the box" to develop next-generation technology vital for the future of the sector, it has been claimed.
Halliburton-owned PSL reports £21.7m loss
PSL Energy Services, the north-east firm acquired by US energy service giant Halliburton for £128million in 2007, has reported pre-tax losses of £21.7million for last year.
Leopard agrees forecourt lease deal
AN INVESTMENT company controlled by Alasdair Locke, the executive chairman of Abbot Group, and seven directors from two property-development firms, has agreed a deal to lease 45 petrol stations to Murco Petroleum.
Financial crisis could hit North Sea budgets
A director at Oil and Gas UK has said that lower oil prices and the impact of the credit crunch could hit North Sea capital investment next year.