‘Keep up the good work’ to attract fresh capital to North Sea, Woodmac says
The North Sea oil and gas industry needs to “keep the good work going” in order to fight off competitors for new investment, an analyst has said.
Offshore Europe
North Sea one of busiest basins over next few years, Aker boss says
The head of a major Norwegian industrial investment company has said the North Sea will be one of the busiest regions to work in over the next two to three years.
SPX Flow upgrades Dyce base with £200k investment, creating new jobs
Global industrial equipment supplier SPX Flow said yesterday that it had invested £200,000 in upgrading its Aberdeen service centre.
Xodus gives Japanese a helping hand with decom duties
An Aberdeen energy consultancy is helping Japanese oil and gas companies to gain a better understanding of decommissioning and how to manage their global asset and abandonment liabilities.
Sir Ian Wood: North Sea has turned a corner
The North Sea industry has turned a critical corner, according to industry veteran Sir Ian Wood.
Andy Samuel: North Sea’s line of sight is clear
The Oil and Gas Authority's (OGA) chief executive has 900 million barrels in his direct line of sight.
Attract new investment or face prospect of ‘irreversible damage’, North Sea industry told
The oil sector’s efforts to make the North Sea more competitive will be “irreversibly damaged” without an influx of new investment, an industry expert said today.
UK in ‘fight’ with other oil regions for investment, Statoil chief says
Statoil’s UK North Sea chief said the basin was locked in a “fight” with other oil producing regions for new investment.
OGTC to sanction up to 12 new projects by year end
The Oil and Gas Technology Centre (OGTC) expects to start work on at least another 12 development projects by the end of the year.
Decommissioning a ‘double-edged sword’, Wood Group chief warns
Wood Group’s chief executive has said that decommissioning is a “double-edged sword” for the oil industry.
Scotland, Japan in £15m subsea technology pact
Scotland and a Japanese organisation will stump up funds totalling £15million for joint research projects focusing on subsea technology.
‘Tentative signs’ of North Sea recovery, but activity levels worryingly low, OGUK economic report says
An uptick in North Sea mergers and acquisitions (M&A) activity in the first half of 2017 was a “tentative sign” that investor confidence is starting to return to the oil and gas sector, a new report said.
North Sea can teach other industries a lesson in productivity, Treasury minister says
The exchequer secretary to the UK Treasury said yesterday that the North Sea oil industry had set a great example for other sectors to follow.
Decom tax reforms would create ‘sweet spot’ for industry and Treasury
Reforming the decommissioning tax relief system would create a “sweet spot” for the UK Government and the oil and gas sector, an industry expert has said.
Shell’s Ben van Beurden: The North Sea must “earn its right to grow”
The North Sea must "earn its right to grow", Shell's chief executive Ben van Beurden this morning said.
Bob Dudley: BP targeting $12 North Sea costs, never been more active
BP's chief executive is looking to streamline its North Sea costs to $12 a barrel.
Promoted: Preserving the bottom line during M&A activity
It was predicted to be the year of mergers and acquisitions (M&A) (Wood Mackenzie Things to Look for in 2017 report) and so far, 2017 has seen a flurry of activity in the North Sea energy sector.
Jeremy Cresswell: DNV’s oil forecast contrasts sharply with others
“Demand for oil will peak in 2022, driven by expectations for a surge in prominence of light electric vehicles, accounting for 50% of new car sales globally by 2035.”
Opinion: Oil’s search for simplicity
In the upstream oil and gas industry, standardisation has long been an effective way to make operations safer and more sustainable. Increasingly, the principle of establishing global standards to all aspects of operations – including purchasing – is helping to tackle the universal problems of escalating project costs and expanding schedules.
Andy Samuel: “Compelling prize” to be won in UKCS, as OGA looks to unlock a further 4bn barrels
There is still a "considerable and compelling prize" to be won in the North Sea, according to the Oil and Gas Authority (OGA) chief executive.
Updated: Treasury minister says ‘no room for complacency’ as North Sea recovery continues
A UK Treasury minister has called for North Sea industry to seize the opportunity to become a pioneer in offshore decommissioning.
EV Guest Editor: We need to dispel dark cloud of decom
Decommissioning is not the dark cloud over the UK oil and gas industry it has sometimes been portrayed to be. While it does present significant and inevitable challenges, none of these are insurmountable and if tackled in the right way there is a huge opportunity to drive further value from the UK Continental Shelf (UKCS) whilst also maximising economic recovery provided. However, this will require detailed and co-ordinated decommissioning strategies to be implemented across the industry.
Do digital technologies hold the key to a profitable North Sea future?
Attend any industry conference and signs that the wider oil, gas and chemicals industries are starting to embrace digitalisation will soon become apparent. The audience is moving from predominantly information technology (IT) personnel interested in the bits and bytes of data, to that of production engineers or management keen to know exactly and practically how digital can save the day.
Drone specialist Texo carries out first combined system scan of offshore jack-up
Drone specialist Texo has carried out the first ever unmanned aerial survey of an offshore asset using combined technology.
EY’s Derek Leith: All change..except the oil price
As we approach Offshore Europe 2017, it’s worth considering the progress that the oil and gas sector has made in the UK since the previous conference in 2015.