Being long in the tooth and possessing a healthy scepticism born out of decades of experience I look upon the proposition that Scotland can develop a major decommissioning sector with wry amusement.
With the emergence of digitisation and Big Data, artificial intelligence and the increased use of automation, the oil and gas industry is examining how these advanced, and sometimes disruptive, technologies will play a role in improving performance and securing a long-term future, albeit one that eventually will represent a very different industry from today. Even in the interim, while hydrocarbon fuels still represent a large proportion end product, increased digitisation is driving greater innovation and improving productivity and efficiency in the field.
Global technology challenges today mostly revolve around technologies that will make us ‘perform’ better – namely reducing costs, adding value, increasing efficiencies and maximising our all-round performance as an industry.
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Progressive companies will focus on a preventative approach to managing the health risks of its workforce. This isn’t just about ‘doing the right thing’ but it impacts the bottom line. A coherent and strong health risk management strategy is vitally important in complex and challenging environments such as offshore installations.
Genel Energy today confirmed it would carry out a 3D seismic campaign across is Morocco Sidi Moussa licence.
OMV posted a 52% increase in its profit.
Subsea 7 today posted flat year-on-year revenue.
Oil major Shell shut down its Enchilada platform in the Gulf of Mexico after a fire broke out and two people were injured.
Offshore workers were banned from drinking the tap water on their platform after it was found to be contaminated with diesel – but were told to keep showering in it.
Hurricane Energy today said it was considering a premium listing to reflect the pace at which the company expects to grow as it targets first North Sea oil.
TAQA today reported a loss of $52.8million (194 million dirhams) for the third quarter of the year. It comes after two consecutive profit turning quarters.
i3 today said it would use the funds from its Liberator field to bankroll a discovery it is targeting in the 30th round.
When your mentor is business veteran and heavyweight Jeff Immelt, one can expect glittering gems of wisdom carved out of a hard-fought, hard-won career.
Today marks 20 years since oil and gas first flowed from Chevron-operated Erskine.
Energy providers are having a tough time at the moment – not only are they facing a super-competitive market, but customer loyalty has more or less vanished. It’s easy to see why: today’s consumers can shop around for the best deals and swap suppliers in less than 10 minutes. And that’s the good news. The Government’s plan to cap standard variable tariffs is only going to make customer retention even harder for suppliers.
As recently as OPEC's last meeting, back in May, several oil ministers were talking quite casually about $50 a barrel as a good price for crude. Don't expect that to be repeated when they convene again at the end of this month.
The Maximising Economic Strategy (MER UK) was launched to leverage every last drop of North Sea oil, encouraging firms – even rivals – to work together towards success for the basin. Watch the video to see which firms have heeded the call and how they are delivering the initiative.
This is issue of Energy has all the right stuff.
Tim Evans, chief market strategist at Long Leaf Trading Group examines oil market fundamentals. Watch the video to find out more.
Heavyweight Shell has topped the third quarter estimates. Watch the video to get the breakdown on what this means and what next.
Prosafe's $131million deal for Statoil's North Sea Mariner was not enough to cushion the financial blow for its third quarter.
Independent Oil and Gas (IOG) today revealed plans to drill an additional appraisal well on the UKCS.
Standard Bank Group’s chief economist and global head of research Goolam Ballim weighs in on price and production of oil. Watch the video to find out more.
Transocean posted a third quarter loss of $1.4billion due to impairment related to rig retirements.
