Editor’s Column: The North Sea’s Scottish Saints
Did you know six Scottish Saints call the North Sea home?
North Sea
Exclusive Video: BP’s ETAP and the North Sea’s next chapter
It could easily be dubbed one of the North Sea’s most important helicopter rides.
Video: OGA chief executive hails BP’s $1bn investment
Energy Voice editor Rita Brown flew out with the UK Energy Minster, BP and the Oil and Gas Authority (OGA) to visit one of the oil major’s cornerstone assets. It follows our exclusive report on how the company is set to invest $1billion into its Eastern Trough Area Project (ETAP) as part of a special life extension scheme.
Gallery: Images of BP’s $1billion investment
Oil major BP has confirmed a $1billion investment in the North Sea. The company's investment is expected to add an additional 15 years to the Eastern Trough Area Project (ETAP) as part of a special life extension project. BP said it remained committed to the North Sea despite the current economic challenges which has seen the oil price dip below $50 this week.
EV Insights: BP’s ETAP figures broken down
Take a look at the facts and figures behind BP's bumper $1billion investment in one of its North Sea assets. The oil major has announced the cash injection could add up to 15 years to the project. The money – £670million – will be funnelled into its Eastern Trough Area Project (Etap), securing its future through to 2030.
Industry body says UKCS production could be on the rise
Industry body Oil and Gas UK said production is set to rise for the first time in 15 years, according to provisional figures.
Paradigm Flow Services completes work on Forties assets
Paradigm Flow Services has completed a deluge remediation and replacement project in the Forties field for Apache North Sea. The company finished the work as part of its service on four of the Forties assets. The team has been undertaking a variety of work to ensure the lifetime of the system including valve replacement work, cleaning drains and parts and then testing the system with air and water. Paradigm also completed hydraulic modelling to verify that all changes were accurately captured.
Independent delays £7.1million equity subscription
Independent Oil and Gas, the North Sea focused oil and gas company, is to delay its equity transactions by several weeks.
Unions could ‘jeopardise’ future investment after OCA no vote
North Sea oil workers could be jeopardising future investment in the North Sea if they choose to ballot over strike action, according to a top industrial relations expert. Unions voted against a package offered by the Offshore Contractors Association (OCA) earlier this week, a move which could lead them back to the negotiating table or a potential strike not seen since the 1980s. Sean Saluja, a partner at Burness Paull and head of their employment division, said the decline in oil price since last year had been more “significant” than the industry had previously anticipated.
In case you missed them, Energy Voice’s Friday Five
Each week Energy Voice pulls together the Friday Five. Click below to see the site’s most read and engaged with copy of the week.
Centrica Energy retains focus on North Sea despite job cuts
Centrica Energy's boss spelled out the reasons behind the oil and gas giant's decision to scale back its upstream operation.
Shell will take “good look” at North Sea, confirms $30billion of asset sales
Shell revealed it would take a “good look” at its North Sea portfolio as it considers $30billion of asset sales over the next two years.
New OGUK guidelines aim to improve rig shutdown performance
New guidelines to improve efficiency and reliability during planned maintenance shutdowns of offshore installations has been launched by industry trade body Oil & Gas UK.
Cape nets £9.8million contract on BP’s Clair Ridge, secures 170 jobs
Cape has won a contract extension worth £9.8million on oil major BP’s Clair Ridge project, helping to secure 170 jobs in the process. The company said the move will see further phases added to its current work over the next 18 months. Clair Ridge, which is 75km west of Shetland, is currently in the second phase of development within the Clair field.
Whitepaper: EnQuest and Wintershall look at overcoming production efficiency challenges
Two companies are leading the way as they look at production efficiency challenges and how they can be overcome in the North Sea oil and gas industry. In a new whitepaper, both EnQuest and Wintershall explain how they are also working on future considerations and development plans within the UKCS.
Unions reject OCA proposals over offshore working conditions
Unions have rejected proposals offered by the Offshore Contractors Association (OCA) for North Sea workers in a move which could increase the chance on industrial action in the North Sea. Both GMB and Unite were balloted on whether to accept a new deal put on the table last month. The result of the ballot from Unite members was 63.5% against and 36.5% in favour. It is understood the union will be consulting with members in coming days following the decision. It is understood GMB voted in favour of the proposals but as the union had fewer members balloted their vote has been outweighed by Unite. The OCA's chief executive Bill Murray said it was "extremely disappointed" by the move.
Expro set to review the bonus provision of 200 workers
An oil firm has announced it is reviewing the bonus provision of 200 offshore workers. Expro is carrying out the review as a result of the ongoing oil price downturn. An Expro spokeswoman said: “The company has communicated with employees to explain the reason for this difficult decision, which is in direct response to the current tough operating environment.
UK oil and gas firms still “fragile” about industry
Oil & Gas UK's Business Sentiment Index for the second quarter of 2015 published today shows that industry remains fragile but that companies’ outlook is improving.
Sparrows increases Malaysian presence
Sparrows Group has expanded into the Malaysian market after forming a strategic relationship with a service provider in the region. The move will see the company work alongside Efficient Technology Sdn Bhd (Eftech) as it looks to treble its business in Asia Pacific over the next five years. Sparrows will offer services including offshore crane maintenance, crane hire, fluid power, inspection and cable and pipe lay products.
Total to consult over three on, three off
Total is set to consult with staff over a potential move to an equal time rota. The decision to communicate with staff regarding a change to a three on, three off shift pattern comes after oil giant Shell confirmed it would be making the move earlier this week. Companies have been considering whether to adopt the shift pattern as they look to make cost savings following the decline in oil price.
Oil industry starts new round of cost cuts as oil slump persists
BP Plc and Chevron Corp. fired the opening salvo for a further round of cost cuts by major oil companies grappling with the prolonged collapse in crude prices.
Imes launches new safety division
An offshore engineering company founded by one of the north-east’s best-known businessmen is launching a Marine Safety Systems (MSS) division following a six-figure investment. Aberdeen-based Imes Group, which was co-founded by Melfort Campbell, expects to create a total of ten jobs at the new subsidiary, with six staff having already been hired. Mr Campbell last year chaired the Scottish Government’s Independent Expert Commission on Oil & Gas and who is a former chair of CBI Scotland. Other directors of the new division include Rod Buchan, who was appointed as executive chairman of Imes Group in April.
North Sea jobs taskforce to continue work
A jobs taskforce set up to help North Sea workers whose jobs are under threat is to be continued “for the foreseeable future”, First Minister Nicola Sturgeon has announced. The Scottish Government set up the Energy Jobs Taskforce in January after the sector was hit by the slump in oil prices. Initial plans were for the body, which brings together the industry, the public sector and trade unions, to be in place for six months. But Ms Sturgeon has announced it will continue to meet beyond its original six-month commitment. The First Minister said: “The Scottish Government is fully committed to the oil and gas industry; it has been a true success story and we are working to ensure it will continue to be so.
Europa and Arenite in joint venture licensing bid
Europa Oil & Gas has been awarded a licence in the southern North Sea as part of the UK 28th licensing round. The company said the conditional award of a promote licence over Block 41/24 was given by the OGA (Oil and Gas Authority) as part of a joint venture with Arenite Petroleum Limited. A total of 41 new licences were awarded in the latest round and the second tranche of successful bids follows the 134 bids confirmed last year, totalling up to 175 licences covering 353 blocks.
Maersk Drilling agrees $142million rig extension
Maersk Drilling has been awarded a $14 million 16-month contract extension for the jackup rig Mærsk Innovator with ConocoPhillips Norway.