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North Sea

Oil & Gas

UTEC NCS wins multi-year contract with Total

UTEC NCS Survey said it has won a multi-year rig move and positioning contract with Total E&P Limited. The company said it had recently awarded the three-year contract with the opportunity to provide positioning services on any of their fleet of rigs and support vessels in the UKCS region.

Oil & Gas

Faroe Petroleum signs Transocean rig contract, resumes production from Enoch field

Faroe Petroleum said it has struck a deal with Transocean for the lease of the company’s semi-submersible Arctic drilling rig as well as revealing production has resumed from the Enoch field in the North Sea. The company said the deal will see the rig used on the Brasse exploration well in the Norwegian North Sea in which it has a 50% stake. The deal comes as production from the Enoch field recommences following an extended period of shut-in for repair and maintenance.

All News

Vision for Aberdeen of the future amid North Sea downturn

Aberdeen councillors have given unanimous backing to a new vision for the north-east economy for the next 20 years. Members agreed the Regional Economic Strategy at a meeting of the full council yesterday. The plan has been drawn up during a downturn in the North Sea offshore industry and amid tumbling global oil prices.

All News

Vistem unveils major expansion plans and jobs boost

An equipment supplier that lists BP, Shell and Total among its clients has unveiled major expansion plans that include taking its headcount from five staff to 15 and relocating its Aberdeen office to larger premises. Fraserburgh-based Vistem – which provides products including inflatable shelters and low-level access lifts – aims for a five-fold increase in turnover from £760,000 in 2015 to £4million in 2016.

Oil & Gas

Wood Group to focus on M&As, sees impact on North Sea and US work

Wood Group said it remains focused on mergers and acquisitions as it said its overall financial outlook for the year remains unchanged, despite challenging market conditions. The company issued its pre-close trading update for the year ahead of results being published in 2016. Earlier this year the company announced the acquisition of Infinity as well as a previously deal to acquire Automated Technology Group in September as well as Beta Machinery Analysis in June.

North Sea

The North Sea’s letter to Santa

As the price of Brent crude flirted with dropping below $40 a barrel yesterday, directors of leading North Sea operators were asked what they might like the industry to get from Father Christmas. The answers, delivered to a full house at an Oil and Gas UK business breakfast at the Aberdeen Exhibition and Conference Centre (AECC) yesterday was clear.

Oil & Gas

CMA highlights competition concerns in North Sea oil and gas industry

The chief executive of the Competition and Markets Authority (CMA) has written to energy secretary Amber Rudd raising concerns over competition in the North Sea oil and gas industry. The CMA has warned the Department of Energy and Climate Change (DECC) that plans to establish the Oil and Gas Authority (OGA) could lead to information exchanges which may harm competition.