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.
Oil & Gas
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.
Forties operator aims to grow UKCS output and reserves
Oil and gas operator Apache North Sea says it intends to be active in acquiring and exploring new acreage and pursuing new development opportunities.
Tide has to turn for power from sea
SCOTLAND is ideally placed to lead the way in marine renewables, a conference in Aberdeen was told yesterday.
Dominion expects Argon acquisition to lead to more jobs
Aberdeen-based oilfield service company Dominion Gas announced a £4million-plus acquisition yesterday, which is expected to lead to additional jobs.
Endeavour to play part in North Sea campaign
NORTH Sea focused oil and gas operator Endeavour International said yesterday it would participate in two strategic wells in the fourth quarter of this year.
BG upbeat on prospects for future output
Oil and gas operator BG Group said yesterday it had delivered another excellent result in the third quarter of 2008, and its outlook remained strong.
Oil firm needs funds for African projects
SCOTTISH oil and gas explorer Bowleven said yesterday it needed more cash to progress exploration and development programmes in west Africa.
North-east firms urged to join Mexico trip
NORTH-EAST companies are being encouraged to join a trade trip exploring oil and gas opportunities in the Gulf of Mexico area.
Reservoir boosts data-management arm with InfoAsset buy
North-east energy service firm Reservoir Group announced another acquisition yesterday.
Qserv actively recruiting to keep pace with rapid rate of expansion
North-east oil service company Qserv said yesterday it was on target to increase its worldwide workforce to 700 by the end of the decade.