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Oil & Gas

Union vote set to close on OCA ballot

07/01/2016

A ballot on whether North Sea workers should accept new conditions put forward by member companies of the OCA (Offshore Contractors Association) will close tomorrow. It comes after revised proposals were put forward after talks were held with Unite, the OCA and ACAS (Advisory, Conciliation and Arbitration Service).

Australasia

Buru Energy hits pay at Ungani well

07/01/2016

Buru Energy said it has identified a five metre sandstone interval at the Ungani Far West 1 well in North Western Australia. The company said an oil sample was recovered with interpretation of pressure data indicating a potential oil column of at least 14 metres with around five metres of net pay. A sampling program is continuing with results expected to be on going.

North Sea

Dear Mr Robertson: ‘I’m living the crisis’

07/01/2016

Austen Russell said MSP Dennis Robertson’s comments about the current state of the North Sea oil and gas industry felt like a “kick in the teeth”. The 38-year-old has been tirelessly looking for work every day since he was made redundant from his job with a pipe lay company last October where he worked as a technical supervisor. He had his first break in the industry 18 years ago when he started out as a well test trainee.

Middle East

Shell, Iran reach deal on $2.3billion outstanding debt

06/01/2016

Oil major Shell and the National Iranian Oil Company (NIOC) have reached a final deal on how the Anglo-Dutch company must clear its debt of $2.3billion outstanding since 2011. The head of the NIOCs international affairs, Mohsen Qamsari, said the two sides had reached an agreement on a mechanism after several round of negotiations.