Noreco production down in September
Norwegian Energy Company (Noreco) has revealed net production for September is estimated at 3,186 barrels of oil equivalents (boe) per day, down from August's 3,561.
North Sea
ASCO boss says low oil price could be “very good” for the future of the North Sea
The chief executive of Asco said a period of $50 oil could be a “very good” thing for the North Sea as companies will be forced to work more collaboratively and reduce cost. Alan Brown, who took the top job at the international oilfield support services firm last year, said the lifespan of the North Sea would be “much shorter” unless there was greater efficiency amongst operators and the supply chain. He said the industry must be prepared for the year-long dip in price per barrel to be the “new normal”.
Aker Solutions reduces North Sea headcount by 70
Aker Solutions has confirmed it is set to axe up to 70 North Sea jobs. The Norwegian firm said the move, announced to staff at its Dyce offices this morning, was part of a wider cost cutting programme announced last month. Overall the company said it would cut 500 jobs across operations in Norway and 400 roles outside of the country.
Songa Offshore rig contract with Statoil to be suspended from next month
Songa Offshore said its contract with Statoil for the Songa Trym in the North Sea will be suspended from next month. The company said the rig will be put on a suspension rate of $238 per day after completing the Tarvos well. Work with the Norwegian player is expected to resume next year.
Video: Highlights from the Energy Ball 2015
The 2015 Press and Journal Energy Ball lived up to its reputation once again as the premier night of the region's social calendar. Hundreds of guests streamed in to the stand-out evening, donning their finest glitz and glam before being wined, dined and entertained. Flying in from Paris to the delight of guests was the 19-piece Swan Band who had everyone up on their feet before dinner had finished being served.
Farstad Shipping to lay up five vessels amid weakening market, 100 jobs to go
Farstad Shipping said it has laid up two PSV and three AHTS in Norway amid a weakening North Sea market. The move means 100 employees are to be made redundant. The company said it was now fully focused on securing contracts and employment of vessels and crews.
Oil and gas firms struggling to work together to maximise North Sea recovery
Oil and gas firms are struggling to work together better in order to maximise recovery in the North Sea, a new report has found. Deloitte’s survey of oil and gas operators and oilfield services companies revealed that a lack of effective supply chain collaboration means companies are missing out on maximising the potential value from the region. While 74% of respondents said collaboration was an “integral” part of their day-to-day business, only 27% reported that their efforts have resulted in a successful outcome, the report found.
Atlantis Resources boss anticipates sea change in energy mix
When Atlantis Resources finally completes its world beating tidal energy development in the North of Scotland, don’t expect exciting photo opportunities to mark the occasion - there’ll be nothing to see. Atlantis’ huge MeyGen project in the Pentland firth will be the world’s biggest tidal project: up to 269 turbines providing almost 400MW - enough electricity for 175,000 Scottish homes. But all that power and infrastructure won’t be visible from the nearby Caithness and Orkney shorelines because all the action takes place below the waves.
Statoil’s North Sea wildcat bites dust
Statoil’s latest North Sea wildcat well has come back dry.
North Sea will benefit from low oil price, says Serica boss
$45 oil has been good to the Serica Energy chairman.
North Sea’s Erskine steadies Serica’s financials
Serica Energy posted healthy financials for the first half of the year thanks to a strong North Sea performance.
Supermoon captured in skies above North Sea rig
The Supermoon has been captured on camera in skies above a North Sea rig. The stunning image was one of many shared by people around the world after capturing the rare celestial event on film.
North Sea should start decommissioning now, says Green party
The UK oil and gas industry should start decommissioning now in order to allow the north-east to come the global leader in renewable energy, the Scottish Green Party leader said last night. Patrick Harvie MSP, co-convener of the Scottish Greens and the party's economy and energy spokesperson, claims a recent report has shown that “many more jobs” would be created in and around Aberdeen through the renewable sector than would be lost if the offshore industry completely collapsed.
North Sea copters in life raft safety checks
Extra safety checks are being carried out on North Sea helicopters after a potential problem with their life rafts was detected. Manufacturer Airbus Helicopters said yesterday about 25 of the Super Puma EC225LP aircraft were affected globally, including about six in UK offshore oil and gas operations. A spokesman for the firm said a routine inspection of an EC225LP had revealed an issue with its life raft mechanism, leading to a European Aviation Safety Agency (EASA) emergency air worthiness directive.
Russian billionaire calls for delay on North Sea asset deadline
Russian billionaire Mikhail Fridman has called on the UK Government to delay an October headline to sell its North Sea assets. The move comes after a first round of offers was understood to have disappointed. Earlier this year the UK Government decided to revoke North Sea oil field licences owned by DEA, RWE’s oil and gas unit bought by Fridman’s LetterOne.
Havila sidelines two North Sea vessels
A slowed marketplace has forced Havila Shipping to sideline two of its five North Sea AHTS vessels.
Watch out for supply chain fraudsters, KPMG warns
Oil and gas supply chain firms are being urged to be vigilant after evidence of a growing number of fraudsters trying to exploit online payment processing systems. KPMG said it had seen a rise in the number of businesses being targeted by criminals seeking to substitute their own bank details for those of genuine companies. The oil and gas industry, with its extensive and complex supply chain, is deemed to be particularly at risk as a variety of legal and illegal means are used to identify suppliers and their customers.
Troll field celebrates two decades of production
Statoil marked 20 years this week since the start of oil production from the Troll field which has been Norway’s largest oil producer for the last three years. In the past two decades more than one billion barrels has been produced with an income of NOK460billion. The Troll oil and gas adventure started with the awarding of the fourth licensing round in 1979. In July of that year, Borgny Dolphin began exploration drilling and four months later Troll was a fact.
PSA launch investigation after incident on Heidrun platform
The Petroleum Safety Authority (PSA) will investigate an accident involving a dropped object on the Heidrun field in the Norwegian Sea. The incident occurred earlier this week during a lifting operation on the production facility’s drill floor. The PSA said part of a grating came loose and dropped and hit a person working in the area below.
Jersey Oil remains optimistic about North Sea prospects
The boss of Jersey Oil and Gas said the North Sea was still brimming with potential despite a sector-wide downturn.
Opinion: MPs’ lukewarm tax support is a ‘sad irony’
There is a sad irony in the fact that the Westminster Parliament, which has benefited in excess of £300 billion in tax revenues from the North Sea should be so reluctant to offer the support needed to protect jobs and preserve a huge contributor to the UK economy.
Hundreds apply for single vacancy as oil slump hits wages
North Sea oil and gas workers are feeling impact of the low oil price which has hit wages and left many chasing jobs, according to recruitment specialists in Aberdeen.
Planned Buzzard shutdown pushed back one month
A planned shutdown of the Buzzard oilfield in the North Sea is likely to be rescheduled for November. The move would boost next month's supply of crude which helps underpin the Brent benchmark. The shutdown had originally been planned for next month instead.
CNR International’s North Sea business booked losses of £86million
The North Sea business of CNR International booked pre-tax losses of £86million as production declined last year, figures filed at Companies House show. But the losses were an improvement on the £156million loss the firm made in 2013 as the firm felt the impact of outages on its Banff and Kyle fields in the Central North Sea about 200 miles east of Aberdeen. Production from Banff and Kyle was suspended in December 2011 when the FPSO was hit by sever storms that winter. Production on the fields started back in July 2014.
Exclusive: Dolphin Drilling in consultation over jobs across its offshore fleet
Dolphin Drilling is in consultation with staff over potential job reductions across its offshore fleet. The company’s offshore activities, which are controlled from offices in Scotland, Norway and Mozambique, have confirmed the move. A spokeswoman for Dolphin Drilling said talks were being carried out with those likely to be affected.