Prof Alex Kemp: 2016 to be just as challenging for the UKCS
The year 2015 has been an annus horribilis for all stakeholders in the UK Continental Shelf (UKCS).
The year 2015 has been an annus horribilis for all stakeholders in the UK Continental Shelf (UKCS).
Independent Oil and Gas (IOG) converted its bid for the North Sea's Skipper licence to 100% ownership.
This holiday season the industry will rely on its workforce offshore, who are away from friends and family, to sustain the sector.
Fuel poverty campaigners have warned annual electricity bills could soar by more than £200 in the north of Scotland because of the spiralling cost of new undersea cables.
Falling oil prices took a large bite out of profits and turnover at Global Energy Group during the year to March 31, the energy service firm said yesterday.
2016 may prove a year in which the theoretical underpinnings of the old adage that "the best cure for low prices is low prices" is challenged, according to Morgan Stanley.
Almost 3,000 rescuers have been dispatched to the southern Chinese city of Shenzhen to search for survivors of the Sunday landslide that’s left dozens missing at a local industrial park.
Maersk Oil confirmed in August that it would invest $4.5billion in its high pressure, high temperature Culzean field in the UK Central North Sea. Technically challenging, Culzean will be a flagship development for the North Sea in years to come.
Noreco Norway today confirmed it had entered into a sale for all of its exploration licence interests, organisation and management systems.
Brent crude slumped to the lowest level since 2004 amid speculation suppliers from the Middle East to the U.S. will exacerbate a record glut as they continue fighting for market share.
We talk about “managing the survivors” when we talk about those left behind post redundancies.
In the movie musical Grease it was Olivia Newton John who said it best: “You better shape up”.
US defence giant Lockheed Martin has been commissioned to investigate how technology developed at NASA can unlock £1billion of savings in maintaining aging oil and gas assets.
Multi-national firms including a number of oil and gas companies have been allocated ministerial “buddies” to allow improved access to government.
Scottish entrepreneur Stuart MacBride follows a distinct set of rules.
Who would have thought in the summer of 2014 that the industry would long for the oil price to recover to $61 per barrel?
UKOG (UK Oil & Gas) said it has received final regulatory consent from the OGA (Oil and Gas Authority) to acquire a further 10% interest in the Weald Basin licence PEDL143. The company will make the move via a farm-in with Warwick Energy Exploration and Production Limited previously announce last month.
Sensor technology inspired by Bottlenose Dolphins could help extend the life of oil and gas pipelines by using ROV's (Remotely Operated Vehicles) to detect blockages, according to new research. The initiative, carried out by Heriot-Watt's University's Ocean Systems Laboratory, Hydrasun Solutions and CENSIS, will develop an enhanced wide-band sonar system based on the principles of the marine mammal's detection capabilities.
Cameron said its shareholders have approved a bid by oil services giant Schlumberger to take over the company in a deal worth $12.7billion. The transaction is expected to be completed by next year.
OMV has awarded DOF Subsea a contract to complete a mooring upgrade on its FPSO (Floating, Storage, Offloading and Production) vessel in the Maari oilfield. The upgrade work at the Maari system, off New Zealand is expected to cost around $60million in total. It is expected to be carried out between February and April next year and will help future proof the mooring system for the next decade.
Transocean said the stock exchange in Switzerland has approved the company's application to delist its shares. The company, which yesterday announced a contract win with Faroe Petroleum, said the SIX delisting will come into affect from the end of March next year.
Oil firm Total will appear in court next week charged in connection with a major gas leak on one of its North Sea installations. In March 2012, all 238 workers on board the Elgin platform had to be evacuated as gas started spewing out of the G4 well at the rate of two tonnes an hour. At one point, about seven million cubic feet of gas was leaking from the platform every day.
Vattenfall is in the midst of a restructuring after being hit by massive write-downs in the value of its traditional generation business as well as a fall in energy prices. The utility, which is wholly owned by the Swedish state, was affected by £3billion write-downs on its coal and gas-fired assets in Europe in 2013.
Despite the oil price scrapping new lows, Hilcorp Energy is handing all of its employees $100,000 bonuses this Christmas.
Atlantis Resources has struck a deal to acquire two projects from Scottish Power Renewables UK for its tidal development company. The deal for Tidal Power Scotland (TPSL) is estimated to be around £6.6million, or 3,859,703 shares, which equates to around 6% of the issued share capital. Atlantis said as part of the transaction, TPSL will acquire Scottish Power Renewables entire tidal portfolio, comprising the 10MW Sound of Islay site and the 100MW Ness of Dunscaby site.