Despite offshore exploration spending hitting a new low, drilling activities are expected to ramp up, with BP’s exciting Ironbark-1 well targeting a potentially giant gas deposit off Western Australia and Santos probing an exciting shale formation in Northern Australia
Oil companies, EPCs, refineries, pipeline operators and drilling contractors will join the AUTOMA Congress next April to discuss the asset management approaches in Upstream, Midstream and Downstream markets.
Independent Oil and Gas (IOG) said two discoveries it picked up in the 32nd licensing round show “good synergies” with its core portfolio in the southern North Sea.
Equinor has handed CHC an £85 million contract to provide flights from Stavanger airport to its Norwegian continental shelf platforms.
Orkney-based renewable energy firm Orbital Marine Power said yesterday it had surpassed a £1 million crowdfunding goal in less than a week.
Industrial lighting specialist BME Nitech, of Aberdeen, has said its latest technology could deliver a six-figure boost to annual revenue.
With $14 billion of commitments before 2024, according to Rystad, decommissioning costs have long been a risk to and blocker in transactions, especially portfolio and corporate deals. The sector has moved a long way since early stage bilateral decommissioning agreements as sellers sought to navigate Section 29 of the Energy Act 2008 and other commercial risks in pursuit of the “clean break”.
At a time when many lenders are closing their doors to new customers, Close Brothers Asset Finance continues to provide vital financial support to SME business owners in the oil and gas sector.
Without a doubt, it’s been a hard year for the oil and gas industry. We have seen the first ever negative oil price, when on April 20, WTI plummeted to -$37 per barrel. At one point, the North Sea’s workforce fell by 40%, with more than 4,000 crew stood down due to the impact of Covid-19.
Survey services firm iSurvey Offshore said yesterday it had successfully completed its biggest project to date.
Exploration and production firm CNOOC has turned to an online resource managed by the UK oil sector’s regulator for help unlocking a North Sea project which is at risk of being left “stranded”.
Private-equity backed Motive Offshore Group has snapped up fellow north-east energy service firm Flowline Specialists for an undisclosed sum.
As we come to the end of a torrid year, business leaders in the north-east’s oil and gas industry breathed a collective sigh of relief on news that coronavirus vaccines look imminent. Oil prices rose around 8% globally following news that three Covid-19 vaccines both showed high efficacy and will be available next year.
The theme for this issue of Energy Voice is looking back on 2020 and looking forward to 2021 – I think most of us can’t wait to put 2020 behind us, so I thought I would focus on the future. One thing the future holds for us is Brexit.
I wouldn’t expect many to challenge the view that the energy sector encountered a “perfect storm” in 2020 with the Covid-19 pandemic causing global upheaval, financial markets’ nervousness and geo-political challenges.
Perhaps more than any year in living memory, it is hard not to reflect on 2020 and wish for its speedy passing - to look forward to 2021 and the hope on the horizon.
Twelve months ago, we were looking ahead with a sense of optimism to a new year and a new decade, and all that they bring. We could not envisage then what the first year of the twenties would deliver.
Bosses at a north-east precision engineering firm are hoping more oil and gas industry projects kick into gear next year after making hefty investments in new kit.
Centrica Plc, the biggest supplier of energy to U.K. homes, has resumed talks over a potential sale of its North Sea oil and gas venture after putting the plans on hold earlier this year.
HitecVision AS is emerging as the frontrunner to acquire Exxon Mobil Corp.’s oil assets in the U.K. North Sea, according to people familiar with the matter.
OMV has booked Maersk Drilling's Integrator rig to drill its Ommadawn exploration well off Norway for $14.3 million.
Westwood Global Energy reports that as of December 2 there was one exploration well active in the UK. So far in 2020, four exploration wells have completed. At the time of writing, the first appraisal well of the year was preparing to spud.
Few would disagree that the Covid-19 pandemic has made 2020 the most disruptive and distressing year in recent living memory. The effect on people’s lives and the thousands of deaths caused by this awful virus will be etched in our minds for a long time to come.
At the beginning of 2020 CMS launched a report examining the energy transition strategies of 15 of the world’s largest oil and gas companies to assess how far they are committed to new and alternative energy. It revealed how these firms were, at that time, investing 3% of capex budgets into renewables with a strong emphasis on wind and solar technologies.
Bosses at Rotech Subsea are celebrating big contracts in the Asia-Pacific region and looking to re-establish a foothold in potentially lucrative US markets.