Economist says North Sea supply chain must “innovate or die”
Scotland's oil and gas sector must "innovate or die" and truly collaborate if it is to maximise productivity.
oil and gas
Adil sees demand for engineering services as M&A activity climbs
Energy consultancy ADIL has seen demand for its services double as acquisition, merger and divestment activity by UKCS operators ramps up in the lower oil price environment.
Scottish university agrees MOU with Mexican Government
Robert Gordon University (RGU) and the Mexican Government said yesterday they had agreed to an oil and gas industry knowledge swap. The Memorandum of Understanding (MoU) was announced at Offshore Europe in Aberdeen and follows Mexican President Enrique Pena Nieto’s visit to the Granite City in March. Under the pact, the Mexican energy ministry and RGU will share information and seek opportunities to support the training of Mexicans for the oil and gas industry. RGU will be included on the list of preferred universities for Mexican scholarships.
Accenture to acquire Schlumberger’s consultancy arm
Accenture has entered into an agreement to acquire Schlumberger Business Consulting (SBC), the management consulting unit of oilfield services specialist Schlumberger for an undisclosed sum.
Poland’s PGNiG to begin German oil and gas exploration
Poland's biggest gas distributor PGNiG will start oil and gas exploration in eastern Germany, as part of a bigger plan to boost production assets outside Poland.
Oil and gas helps accelerate UK growth
Improved North Sea oil and gas production helped the UK economy grow in the three months to July, but the strength of the pound remained a drag on exporters, according to a survey.
National Oilwell Varco focused on cost cutting as earnings dip
The boss of US oil field services giant National Oilwell Varco said the company would continue to focus on cost reduction as second quarter earnings dipped.
Marksmen on target in Ohio
US light oil exploration company Marksmen Energy has found "signifcant" deposits from its assets in Ohio.
Tendeka agrees Chinese oil and gas deal
Completions systems specialist Tendeka has signed a two-year agreement for the exclusive supply of its autonomous inflow control devices (AICDs) in China.
Mexico’s new oil era is here and an economic legacy is at stake
Mexico President Enrique Pena Nieto’s credibility on law and order was damaged this weekend by the prison escape of the nation’s most famous drug trafficker. Now he’s about to be tested on his pledge to attract private investment to the flagging oil business and help revive the economy. On Wednesday, the government will hold the first in a series of petroleum auctions that will help open the energy industry, bringing in an estimated $62.5 billion by 2018 and increasing annual output by 500,000 barrels a day. The exploration and production contracts, the first since then- President Lazaro Cardenas nationalized the fields in 1938, will end the monopoly of state-owned Petroleos Mexicanos, or Pemex. The success of the auctions also will determine whether Pena Nieto, 48, can reverse a decade-long decline in crude output and fulfill his pledge to double the pace of economic expansion by the time he leaves office in late 2018. The output drop and an almost 50 percent plunge in oil prices during the past year have forced Mexico to trim government spending and sweeten the auction-contract terms for prospective bidders. “This process is vital,” said Vicente Fox, a former president whose election in 2000 broke seven decades of rule by Pena Nieto’s Institutional Revolutionary Party. “This is the great opportunity for Mexico to mobilize its economy and reach 5 percent growth rates, something we haven’t been able to achieve in the past 30 years.”
Gallery: The energy sector’s best read stories
The most read story on Energy Voice this week was the news of BG Group's new contract on a flotel damaged by North Sea gales.
Total to host energy sector action plan meeting
French oil major Total is hosting a meeting of the world's biggest oil companies over the sector's action plan ahead of UN climate talks in Paris at the end of the year.
Gallery: The energy sector’s best read stories
The story which sparked the most interest with Energy Voice readers this week was the news of BP placing North Sea operation staff on an equal time rota. The oil giant will now move to a three on, three off shift pattern. The move, which is also being considered by a number of other companies including Talisman and EnQuest, was announced to employees earlier this week.
North Sea workers edging closer to strike action
North Sea oil and gas workers today agreed to press ahead with plans for a ballot on strike action after talks with employers in Aberdeen reached another stalemate.
Nostra Terra lands Texas venture
Nostra Terra Oil & Gas has acquired a new venture in the south Texas, with a minority interest in the San Miguel prospect. The area spans 35,000 acres and is said to have similar characteristics as the Don Pedro project, where last month the company also gained a 1% stake. The San Miguel project has also already been the subject of extensive regional mapping and it is the subject of ongoing drilling work.
Subsea UK launch market intelligence service
Subsea UK has launched a new market intelligence service for subsea companies. The industry body, which represents the UK’s £9billion subsea sector, has developed SubseaIntel – an online database which provides regularly updated details on almost 1,200 subsea projects worldwide. Subsea Intel allows users to delve deeper into current projects across the globe and discover upcoming opportunities using intensively researched data. Users will be given a unique and secure log-in to search for, track and monitor global subsea discoveries and projects.
Maersk adopts CAMS system
Maersk Oil has become the first to adopt an exclusively electronic competence system which they say will give them the ability to track employees’ knowledge and minimise risk in the oil and gas sector. Developed by Atlas Knowledge the Competence Assurance Management System (CAMS) is an online competence assessment and training system where all data surrounding employees can be tracked. Based on three key criteria: knowledge, skills and practice- it allows companies to build a background on each employee’s level of competence and centralise all documentation in one secure place.
Marquee Energy announces Michichi acquisition
Marquee Energy have announced that they have acquired oilfields in Michichi, Canada.
Talisman Sinopec appoint new managing director
Talisman Sinopec Energy UK has announced a new managing director. Bill Dunnett has been appointed to the position by Talisman's board of directors, and will begin his role from April 7. Dunnett, a chartered engineer, has more than 30 years' experience in the international oil and gas industry, and has previously served as project manager for Shell and acted as senior vice president for Global Offshore Capital Projects.
Victoria subsidiary completes African work earlier than expected
Victoria Oil and Gas (VOG) says wholly-owned subsidiary Gaz du Cameroun (GDC) has issued completion certificates to ENEO Cameroon, Cameroon's power utility company, for all pipeline construction work and pressure reduction and metering facilities at two power stations in the port-city of Douala. The work has been completed ahead of the scheduled March 15 target date and GDC is ready to connect to the gas-fired electricity generations sets that are being installed by equipment partner Altaaqa Alternative Solutions Projects.
Brazil’s president calls for patience amid oil corruption probe
Brazilian president Dilma Rousseff has asked citizens for patience as the country deals with a flagging economy and a widening corruption probe involving the state-run oil company and dozens of top politicians. In a nationally televised address, Ms Rousseff said her government will move to fix a serious fiscal problem after posting a primary budget deficit for the first time in more than a decade.
Oilex looks to India for shelter from low oil prices
Updating the market on its Indian assets, Australia's Oilex said the 2015/16 work programme for proof of concept well Cambay-77H had been approved by both its joint-venture and the government of India. Oilex has commenced work on schedule critical tendering activities and expects to take advantage of the recent decrease in global oil and gas activity to achieve a reduction in drilling and other costs.
Statoil orders new emergency vessel for the Mariner field
Norwegian oil giant Statil has awarded a contract to Sentinel Marine to provide a new multi-role Emergency Response and Rescue Vessel (ERRV) to support operations on the Mariner field on the UK Continental Shelf (UKCS). Sentinel Marine is an Aberdeen-based company, owning and operating offshore support vessels in the oil and gas marine industry.
Roxi on track for BNG asset in Kazakhstan
Roxi, the Central Asian oil and gas company with a focus on Kazakhstan, has unveiled plans for the next stage of its flagship BNG asset. The BNG Contract Area is located in the west of Kazakhstan, near Tengiz on the edge of the Mangistau Oblast. Roxi has a 58.4% stake.
Oil market balance expected later this year
The global crude-oil market will return to balance in the second half of this year from an oversupply of 2million barrels a day that has caused prices to plummet, Opec Secretary-General Abdalla El-Badri has said. Speaking at a conference in Manama, Bahrain, Mr El-Badri said demand in 2014 was weaker than expected “at just below 1million barrels a day” and will rise by 1.2million barrels a day this year.