A subsea engineering and training firm has completed a contract with Decom North Sea (DNS). The deal enabled the UK-based company to identify pioneering methods of salvage and re-use options for concrete subsea mattresses, the findings of which were presented to industry members yesterday. Nigel Jenkins, DNS chief executive said: “This project was implemented in direct response to our operator member requests and Jee’s findings have been eagerly anticipated.
The shortlist of contenders for honours at the Press and Journal’s inaugural celebration of 50 years of operations in the North Sea has been unveiled. Thirteen companies and four individuals have emerged as potential winners of the newspaper’s first Gold Awards. The recipient of the first hall of fame accolade will also be unveiled during the ceremony at the Marcliffe Hotel and Spa.
The UN’s atomic agency will be reporting a standstill in attempts to probe allegations that Iran is working on nuclear arms, in an assessment later today, diplomats have said. The International Atomic Energy Agency reports regularly on Iran’s nuclear programme, but the upcoming summary is particularly important because its investigation figures in an emerging deal meant to restrict Tehran’s nuclear activities in exchange for sanctions relief.
He takes over a nation in crisis, with an Islamic uprising that has made 1.5 million people homeless and coffers emptied by massive corruption. Similar crises confronted him when he ruled briefly as a military dictator in the 1980s. The 72-year-old says a similar prescription more judiciously imposed by a “born-again democrat” can heal the woes of Africa’s biggest nation, economy and oil producer.
North Sea crudes are trading at the biggest discount to the regional benchmark in more than six years amid a surplus of cargoes. Forties, the largest of the benchmark North Sea crudes, sold Thursday at the steepest discount to Dated Brent since 2008, according to a Bloomberg survey of brokers and traders monitoring the Platts trading window. Ekofisk traded Wednesday at the lowest level since at least 2009. Delayed maintenance work unexpectedly increased the volume of North Sea crude available in June, while unsold Nigerian cargoes remain for July, according to Eugene Lindell, a senior analyst at Vienna-based consultant JBC Energy GmbH.
Ithaca Energy has misled shareholders by hiding “material facts” related to its Greater Stella Area (GSA) development, the Canadian lawyer at the heart of a lawsuit against the North Sea oil company said last night. Toronto-based Andrew Morganti said he was pursuing a class action on behalf of investors who bought Ithaca shares between August 12, 2014 and February 25, 2015. He was speaking after Ithaca, which is Canadian owned but has its headquarters in Aberdeen, revealed it had received a statement of claim “from a law firm that advertises itself as undertaking investor lawsuits”.
OneSubsea has been awarded a $330million contract for subsea production systems relating to a gas project offshore North Africa. The scope of the supply for the 13-well development includes subsea production equipment, tooling and installations and commissioning services.
Tickets have almost sold out for a one-day business event which will link two of Europe’s leading energy hubs next month. The second annual Aberdeen-Stavanger Gateway will be hosted by Aberdeen-based Granite PR in association with Statoil at the city’s Norwood Hall Hotel on Tuesday, June 2nd. The event will feature an array of speakers, joined by participants who will benefit from knowledge sharing and networking between these key locations.
DNV GL has appointed a new chief executive. Remi Eriksen will take over from Henrik Madsen when he retires on August 1.
SK Innovation, which owns South Korea's biggest refiner, said it plans to raise investment in US shale fields. The company said in a statement it wanted to expand its shale gas fields in both Oklahoma and Texas, which it acquired last year, into nearby areas.
Seadrill has posted better than expected first-quarter profits as cost cuts help during the oil price decline. The offshore driller, which is controlled by billionaire John Fredriksen, posted a net income of $427 million. Chief executive Per Wullf said: “Seadrill continues to be focused on operational excellence and financial flexibility in order to manage through this downturn and thrive when the market recovers.
PetroSA has suspended its top three executives amidst declining revenues. According to reports, South Africa's state oil company has also made the move as a result of poor investments and a failed bid to enter the fuel retail market.
A tornado in Texas has left three people injured after hitting a natural gas drilling rig in Texas. According to reports, one victim suffered minor injuries, another had non-life threatening injuries to his face and a third had suffered an injury to their abdomen.
A drone firm specialising in the oil and gas industry has been boosted by venture capital investment worth more than £2.5million. Sky-Futures, which is opening a new, larger office in Aberdeen on Monday, has also been backed by a US fund specialising in drone technology. The firm was founded in 2009 by James Harrison and Chris Blackford who operated drones in Iraq and Afghanistan while in the British Army.
Shell’s decision to remove the topside of its Brent Delta platform in one has shaved off about a million hours of high-risk offshore work, a senior manager from the British-Dutch oil major said in Aberdeen yesterday. Shell said in February it would seek approval for the Pioneering Spirit, thought to be the largest ship ever built, to lift and remove the topside in one piece, shunning more traditional methods which involve cutting installations into smaller sections.
Premier Oil said a further oil discovery has been made in the Isobel deep exploration well in waters off the coast of the Falklands. The find is believed to have similar properties to the discovery which was made at the Sea Lion project. Premier exploration director Andrew Lodge said:"This is an important play opening discovery in the previously unexplored southern area of Licence PL004.
Crippling fuel shortages, power cuts, slowing economic growth and Islamist militants wreaking havoc. Muhammadu Buhari is taking on a tough job when he’s sworn in as Nigeria’s president on Friday. Former military ruler Buhari, 72, swept incumbent Goodluck Jonathan from office in March elections by pledging to end endemic corruption and Boko Haram’s rebellion in the north. His stewardship of Africa’s biggest oil producer, this time as elected president, may depend on the price of crude, which supplies the government with more than two-thirds of its income.
Four months into oil’s rebound from a six-year low, the tanker market is sending a clear signal that the rally is under threat. A sudden surge in demand for supertankers drove benchmark charter rates 57 percent higher in the two weeks through May 20. OPEC will have almost half a billion barrels of oil in transit to buyers at the start of June, the most this year, while analysts say about 20 million barrels is being stored on ships in another indication the glut has yet to dissipate. The Organization of Petroleum Exporting Countries is pumping the most oil in more than two years, determined to defend market share rather than prices.
He made his fortune and reputation by recognising the massive potential of the North Sea, and by his own estimation did “incredibly well” during the oil and gas industry’s boom years. Now Sir Ian Wood has pledged an incredible £4.5million to ensure that Aberdeen and the rest of the region has a bright future long after the lifeblood of the area’s economy runs dry. The huge donation from the Wood Foundation to Robert Gordon University will be spent on turning the institute and the city into “world leaders” in the oil and gas industry for teaching, research and technology. It should also keep the sector anchored in the north-east long after operators have filled their last barrel.
The camera pans up with a slight jerk, and lingers for a moment on the oddly familiar woman in the pink dress, splayed on the grass, holding herself up on her arms. Did she trip? What is it that she's trying to see? We follow her gaze to the two weathered farm houses and back, have a second or two to recall that this woman Andrew Wyeth painted back in 1948 was his neighbor, Anna Christina Olson. Next we're transported to William Bradford's depiction of Melville Bay, before skipping to the pastiche of Highway 138 in David Hockney's Pearblossom Highway. By the time we jump back seconds later, Christina's World has caught fire.
Protesters in Nigeria said they had shut down six Idu oilfield wells run by Niger Agip Oil. Niger Agip Oil is a unit of Italian oil major Eni.
The University of Edinburgh is taking steps to withdraw its investments in fossil fuel producers, in response to pressure from student groups and activists. Students staged pickets and occupied a building after the university said two weeks ago it would only divest from companies that produce coal and tar sands if they are found not to be investing in technologies that address climate change. But yesterday the university said it is informing “three of the world’s biggest fossil fuel producers” of its intentions to divest from them within the next six months, giving them four weeks to respond.
CNOOC has made a mid-sized discovery in the South China Sea. The company has just drilled and completed the LH20-2-1 well to a depth of about 2,970metres, encountering oil pay zones with a thickness of 35.2metres.
Ashtead Technology has secured a deal with Neptune Oceanographics which will add underwater leak detection products to its rental fleet. The company will now offer Neptune's leak detection systems and senors. Tim Sheehan, commercial director of Ashtead Technology, said: “With billions invested in installing subsea infrastructure around the world, inspection, repair and maintenance of pipelines becomes increasingly important.
N-Sea offshore has moved into new premises as its business continues to expand. The move into the Norwich-based premises are aimed at supporting the company's increased activity in the oil and gas and renewable market in the region.