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Oil & Gas

Indian red tape could mean firm pulls out

12/06/2015

India-focused Hardy Oil and Gas said yesterday it may have to change tack and turn its attention to other areas. Aberdeen-based Hardy is led by former KCA Deutag director Ian MacKenzie as chief executive. Alasdair Locke, the former executive chairman of Abbot Group, now KCA Deutag, is its chairman. The company’s portfolio includes exploration, appraisal and development assets.

Oil & Gas

Iran seeks $100 billion for gas as world fixates on nation’s Oil

12/06/2015

Iran needs $100 billion to rebuild its gas industry and has met with European energy giants as an end to decades of international sanctions looms, according to the state-run company in charge of discussions. “We welcome and appreciate investment by companies; we welcome new technology,” Azizollah Ramazani, international affairs director at National Iranian Gas Co., said in an interview in Paris. “During the last 18 months we have had many discussions with foreign companies.” While commodity markets fixate on a return of Iranian oil, the importance of gas in the longer term was underlined Wednesday as BP Plc data showed the Islamic Republic held its position as the nation with the largest proven reserves of the fuel after snatching the crown from Russia in 2011.

Oil & Gas

Firm floats its latest vessel

12/06/2015

Sentinel Marine has celebrated the latest addition to its growing fleet of offshore support vessels, naming the ship Cygnus Sentinel at a christening event in its home city of Aberdeen. It is the second of four emergency response and rescue vessels (ERRV) that Sentinel is taking delivery of as part of a £28million funding package from Clydesdale Bank and Germany’s Norddeutsche Landesbank. The 200ft-long Cygnus Sentinel is starting a five-year contract serving Gaz De France operations in the southern sector of the UK North Sea.

Oil & Gas

Chevron completes its largest seismic survey in Aussie oil hunt

12/06/2015

Chevron Corp. is studying data from its largest-ever seismic survey to decide where to drill for oil in an untapped frontier off southern Australia. The seismic program, carried out by Norway’s TGS Nopec Geophysical Co., gathered data covering about 22,000 square kilometers (8,500 square miles) of the Great Australian Bight, Chevron’s local unit said in an e-mail response to questions.

Oil & Gas

SNP defends plans for full fiscal autonomy amidst lower oil prices

11/06/2015

Deputy First Minister John Swinney has leapt to the defence of the SNP’s plan for full fiscal autonomy despite Scottish Parliament analysis which found that plummeting oil prices could lead to a £9.7 million cut in public spending. Labour has produced its own “oil and gas bulletin” while Holyrood awaits an official bulletin by the Scottish Government. SNP members cried that it was a “Mickey Mouse” report at First Minister’s Questions, but Labour’s deputy leader Kezia Dugdale said its findings have been confirmed by independent researchers at the Scottish Parliament Information Centre (Spice).

Oil & Gas

Technip nets Chevron decommissioning contract

11/06/2015

Technip has been awarded a contract for the decommissioning of the brownfield development and installation of subsea equipment in the Gulf of Mexico by Chevron. The company said the lump sum project will help support a floating production system located in the Mississippi Canyon. The work includes project management and engineering, decommissioning of existing equipment and pre-commissioning and testing.

Oil & Gas

Shell to consider pulling out of Ukraine

11/06/2015

Oil major Shell is said to be considering whether to pull the plug on its last exploration well in Ukraine. The move is being considered as the project has been on hold for almost a year, due to the conflict between pro-Russian separatists and Ukranian forces.

Oil & Gas

RMEC achieves highest turnover after increasing rental fleet

11/06/2015

Oilfield services company RMEC achieved its highest turnover in the last year after increasing its rental fleet and doubling its staff. The company achieved a turnover figure of £9.5million for 2014 up 5% from the year previously. It comes after RMEC received a £7.5million investment in April last year from Maven Capital Partners and over the last 12 months the company has invested more than £1million in its pressure control fleet.

Oil & Gas

Baker Hughes wins Mariner contract

11/06/2015

Statoil has awarded Baker Hughes a contract for production chemicals and services for the Mariner field. The company will design and supply production chemicals and services as part of an eight year contract anticipated to begin next month. The contract will also hold the possibility of an extension option for four years.

Oil & Gas

Oil and gas chiefs welcome prospect of further tax breaks

11/06/2015

Oil and gas chiefs welcomed the prospect of further tax breaks yesterday after holding their first formal talks with the new UK Government. Ministers and industry leaders met at the Fiscal Forum, where Treasury minister Damian Hinds pledged to continue to support the sector during the downturn. As revealed yesterday, the Exchequer secretary confirmed at the summit that the government intended to expand the scope of the new investment allowance, and move to boost exploration and access to infrastructure.

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