ONS’s debts total more than £600m
Oilexco North Sea (ONS), which went into administration last month, had secured and unsecured debts totalling more than £600million, the Press and Journal can reveal today.
Oilexco North Sea (ONS), which went into administration last month, had secured and unsecured debts totalling more than £600million, the Press and Journal can reveal today.
Oil giant BP is asking its contractors and suppliers in its North Sea business to work with it to identify ways to reduce costs and improve efficiency after being hit by lower crude prices.
SCOTTISH company Aquamarine Power has signed an agreement with Airtricity aimed at developing sites capable of hosting 1,000MW of marine energy by 2020.
The chief executive of Canadian oil company Oilexco was yesterday said to be bidding for some of the assets of its subsidiary, Oilexco North Sea (ONS), which went into administration last month.
Scottish company Burntisland Fabrications (BiFab) said yesterday it had landed a £50million contract, which will lead to 150 jobs.
XCITE Energy, the Banchory-based oil explorer focused on the development of heavy-oil resources in the UK North Sea, said yesterday that likely reserves in its 100%-owned Bentley field east of Shetland had been upgraded significantly.
A survivor of the helicopter crash that forced 18 oil workers into the North Sea has told of the ordeal for the first time.
INDUSTRY body Oil and Gas UK is introducing new guidelines setting out principles and process in the banning of contractor employees from an offshore installation.
Administrators at oil and gas operator Oilexco North Sea (ONS) clarified their position yesterday on retention bonuses proposed for staff at ONS and its Canadian parent to keep them working throughout the administration process.
An oil industry supply firm has withdrawn two safety vessels and is in negotiation with a union about laying off 11 staff, it was revealed yesterday.
THE ETAP project is an offshore development of nine different reservoirs, the ownership of which is divided between oil giants BP and Shell.
Apache, operator in the UK North Sea of the Forties oil field, said yesterday that net income nosedived to £497million in 2008, compared with £1.97billion the year before.
Oil giant BP has suspended the use of the type of helicopter which ditched 1,600ft from one of its rigs, a company boss revealed yesterday.
The crucial training that helped save the lives of 18 people on board the Super Puma helicopter which ditched in the North Sea was hailed last night as the best in the world.
The supply vessel sailed sedately into dock under the cover of darkness, 11 hours after her passengers found themselves caught up in a drama that catapulted them on to the front pages of every newspaper in the country.
A Scot who is one of the bosses at international oil and gas facility-service provider Petrofac is to retire.
A YOUNG Moray company is looking to add to its workforce after breaking into the global oil and gas market.
NORWEGIAN oil major StatoilHydro said yesterday it had achieved a strong operational performance in 2008, although its fourth quarter had been negatively affected by weaker oil prices.
OIL and Gas UK's first seminar of 2009 will focus on the link between the management of workplace health and a company's business efficiency and performance.
Subocean Group is a subsea installation company with extensive knowledge of the North Sea oil and gas industry.
Broker Evolution Securities believes that a downturn for oil service companies is inevitable, but it will be short and sharp, and that recovery is likely to be equally rapid and certainly apparent in 12 months.
DOING business in Texas will be the focus of a free seminar for oil and gas service firms in Aberdeen on Monday.
An Aberdeen-based oil service company announced plans yesterday to add more than 200 posts to its worldwide workforce by 2012.
OIL and Gas UK yesterday unveiled new model agreements to help companies conclude deals quickly and efficiently.
Dana Petroleum said yesterday it had agreed to buy UK North Sea-focused Canadian company Bow Valley Energy for about £125million.