North Sea

North Sea

North Sea decommissioning expenditure to hit £17bn over next decade

The UK oil and gas industry’s decommissioning sector is growing at a steady pace, with total expenditure expected to hit £16.9billion over the next decade, a new study shows. Oil and Gas UK (OGUK) raised the forecast from £14.6billion a year ago, citing an influx of 47 new projects into its 2015 Decommissioning Insight survey. A total of 79 platforms are now expected to be removed across the UK continental shelf by 2024, according to the poll, which was launched at the Offshore Decommissioning Conference in St Andrews.

North Sea

Unite recommends new offer from offshore caterers

Offshore catering workers are mulling a fresh offer from their bosses as well as unions’ advice that they accept it to settle a pay dispute which had threatened to boil over into a strike. The Unite union said yesterday it welcomed revised terms from Catering Offshore Trade Association (Cota) employers, and put plans for industrial action on hold. Cota chairman Peter Bruce said: “At our meeting with representatives of Unite and RMT last week, we discussed a solution which we are hopeful will lead to the resolution of this dispute.

North Sea

Total to sell 15% stake in Gina Krog field

Total has signed an agreement to sell a 15% interest in the Gina Krog field in Norway to Tellus Petroleum in a NOK1.4billion deal. The French company’s president of exploration and production said the move was as a result of a “full comparative review” of its global asset portfolio. The transaction still has to be approved by the Norwegian authorities.