UK decommissioning activity is expected to increase due to the effects of Covid-19, but threats to jobs and the longevity of skilled SMEs will impact the “capacity and capability” to carry it out.
The Oil and Gas Authority (OGA) has slammed “poor behaviour” in the North Sea supply chain, with firms facing demands to cut rates as much as 40% “overnight”.
Asymptomatic testing will be the key “ask from government” to help get thousands of people back to work in the North Sea, according to an industry boss.
The upstream supply chain “faces the very real threat of collapse”, a new report from Wood Mackenzie has warned, setting the industry on the path of another crisis as demand recovers.
As cases of the coronavirus (COVID-19) increase around the world, industry continues to experience the effects. In particular, Chinese manufacturers in some areas have stopped operations due to factory shutdowns which in turn is starting to affect supply chains. As lead times catch up with supply constraints we expect this to become problematic in the weeks to come.
In March last year one of the most charismatic figures to hold office as an energy minister in the UK became chairman of the Oil and Gas Authority (OGA).
The North Sea oil industry has been in transition for some years following the collapse of oil prices in late 2014. Large cost reductions have been painfully achieved. Production has increased due to a combination of new fields coming on stream plus a substantial increase in production efficiency to around 75%. But new field investment expenditure has fallen dramatically since 2015 and exploration remains at a relatively low level reflecting principally the maturity of the province as well as oil and gas prices far below their pre-2015 levels.
It’s no secret that the global decommissioning market is hotting up. With enormous opportunities in the pipeline, contracts are being rolled out across the globe over the next 12 months.
An oil firm director has said that the supply chain is still too big in places and may have to “shrink” to become more efficient and robust.
North-east firm Boskalis Subsea Services (BSS) said yesterday its rapid growth was creating new opportunities for the supply chain.
May 2019 marked the 50th anniversary of the Offshore Technology Conference (OTC) in Houston. While attendance figures may not be as high as in previous years, the event still provides a useful barometer for sentiment and activity across the oilfield service (OFS) industry.
Oil and gas supply chain firms are among a large number of Scottish companies showing "zombie-like" symptoms, KPMG has said.
Smaller oil and gas technology companies are on a metaphorical conveyor belt, an investment expert said yesterday.
North Sea operators must treat oilfield service (OFS) firms with care or they could end up becoming “second-class clients” in a tightening market, an industry figure has said.
A skills shortage in the North Sea industry has been talked about for some time, and it is something the father and son team running Whittaker Engineering can see taking shape in the supply chain.
The tide of adversity has turned and the North Sea is back on the up, Oil and Gas UK (OGUK) said in its business outlook report.
“Challenges remain, but the UK sector remains optimistic” – one of many headlines that appeared following the launch of our 2019 Business Outlook.
The uncertainty surrounding Brexit has "slowed" UK offshore wind investment, according to analysis by Wood Mackenzie (Woodmac).
A recent poll suggested industry’s mission to lower its cost base and learn lessons from the downturn will be subjected to an acid test this year.
The global offshore upstream supply chain saw signs of recovery in 2018, and this looks set to continue in 2019, according to global natural resources consultancy Wood Mackenzie.
A new and improved version of an online tool which helps the supply chain keep tabs on upcoming North Sea projects will soon be unleashed.
Energy giant Shell is at a "pivotal moment" in its dealings with the supply chain, one of its bosses said today.
Optimism is growing in Scotland’s oil and gas supply chain after several tough years brought about by low crude prices, a top finance adviser has said.
A ‘potentially damaging’ squeeze on the North Sea supply chain could mean companies won't be able to meet an increase in demand within a few years, according to Oil and Gas UK.
Norway's offshore industry is leading the oil and gas supply chain's "cautious and gradual" recovery, an analyst has said.