Reserves estimate doubled at giant North Sea discovery
SCANDINAVIAN energy giant Statoil doubled its reserves estimate on the North Sea Aldous discovery yesterday to up to 1.5billion barrels.
continental shelf
AGR picks up Lundin frame agreement
AGR has been awarded a three-year frame agreement with Lundin Norway for drilling services on the Norwegian continental shelf (NCS).
Petrofac boss says Brent surge boosting North Sea investment
Surging oil prices will encourage more investment in UK North Sea oil and gas production, the boss of global energy service firm Petrofac said yesterday.
Oil and gas decommissioning forum visits Norway
DECOM North Sea (DNS) is staging its first international mission for members this week.
City welcomes BP’s Arctic exploration deal
The market welcomed BP's £10billion deal with Russian oil giant Rosneft yesterday following Friday's news of an Arctic exploration alliance.
Total pouring £645m into North Sea development
The North Sea oil and gas industry got another boost yesterday with news of a £645million investment from Total E&P UK.
UK energy industry honours its achievers
MORE than 500 people attended an Oil and Gas UK event in Aberdeen last night honouring the achievements of people and companies that had made outstanding contributions to the success of the energy industry.
Looking for a challenge? Try BP’s Ultimate Field Trip
BP describes it as the Ultimate Field Trip. The winning team of the 2011 contest will get the opportunity to experience and contribute to the real challenges facing this super-major today during a six to eight-week paid summer internship.
Gas group Centrica slimming down North Sea portfolio
Centrica confirmed yesterday it was moving to slim down its North Sea portfolio following the £1.3billion deal to take over Aberdeen-based Venture Production last year.
Event aims to focus attention of oil industry
Oil and Gas UK and Decom North Sealaunched the first day of their sellout offshore decommissioning conference yesterday at Dunblane.
Petrex pair have ambitious growth plans
TWO former Marathon Oil employees have ambitious expansion plans for their own subsea-engineering and project-management consultancy.
Venture-capital firm eyeing hi-tech investment potential
Venture-capital firm Energy Ventures is using OTC to identify upstream oil and gas technology firms which offer investment potential.
Bright start for North Sea group on stock market
A new North Sea oil company, EnQuest, joined the Stock Exchange yesterday and shares finished the day ahead of their opening price.
TAQA taking advantage of tax initiative
The UK arm of Abu Dhabi national energy company TAQA revealed yesterday it is to take advantage of a recent UK Government tax incentive to bring on stream an undeveloped accumulation of oil in the North Sea.
UKCS firms urged to sign updated deed
ALL COMPANIES working for oil and gas operators on the UK continental shelf are being invited to sign up to the new industry mutual hold harmless (IMHH) deed.
Joint initiative is making seas safer
Significant progress has been seen in efforts to improve maritime safety around offshore oil and gas activities, members of a partnership forum were told in Aberdeen yesterday.
South Atlantic battle between UK and Argentina looking inevitable
A battle for control of a huge slice of Antarctic waters is about to get under way, with the UK and Argentina laying claim to substantially the same piece of territory.
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).
New model agreements to ‘oil wheels of dealmaking’
OIL and Gas UK yesterday unveiled new model agreements to help companies conclude deals quickly and efficiently.
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.
RBS reckons oil overpriced
Output of oil and gas from the UK continental shelf increased slightly in January compared with December, but was down year-on-year, from 2,798,983 to 2,502,320 barrels of oil equivalent per day, according to the latest Royal Bank of Scotland oil and gas index.