Aberdeenshire-based Eland Oil and Gas, a production, development and exploration company operating in west Africa, with a principal focus on Nigeria, said today it was benefiting from a share of 3,100 barrels of oil per day from the Opuama field. Total output from the Nigerian asset includes 1,395 barrels a day for Eland's joint-venture, Elcrest Exploration and Production.
Oil & Gas
The Scottish Government’s energy jobs taskforce is “delivering the goods” for energy workers made redundant by the recent slump in oil prices, MSPs have been told.
Oil and Gas UK's outgoing chief executive, Malcolm Webb, highlighted an "urgent need for regulatory and fiscal reform and improvements in cost efficiency" at a meeting with Shadow Chancellor Ed Balls today. Mr Webb, who hands over the helm of the industry body to Deirdre Michie on May 1, said: "The UK oil and gas industry is suffering from high costs, years of under-resourced regulation and a tax burden of between 60% and 80%, with the impact on competitiveness exacerbated by the collapse in oil prices.
Indian tax authorities last night slapped oil explorer Cairn Energy with a £1billion draft assessment order on a business transaction in the country seven years ago. In retaliation, Cairn said it has instructed counsel to fight the notice, which the Edinburgh firm argues stems from retrospective legislation imposed in 2012.
Staff from the Bank of Canada and Suncor Energy are among scheduled speakers at a Canadian parliamentary committee that will review the impact of falling oil prices on the country’s economy. Executives from Canada’s energy, finance and manufacturing sectors are scheduled to speak to the standing committee on finance this week.
The biggest slowdown in oil drilling on record is showing signs of reining in the US shale boom. American shale oil output is expected to post the slowest growth in more than four years in April, the country's Energy Information Administration (EIA) said.
Aberdeen-based specialist container and tank rental firm Conserve Oilfield Services (COS) is investing more than £1.5million in new equipment to support international growth. COS, part of Centurion Group, rents out offshore containers, tanks, cargo carrying units and associated equipment and services for the global offshore oil and gas industry.
A Scottish based aero-derivative gas turbine firm has been named technology partner with Honeywell International. Peterhead-quartered Score Energy has secured the deal following efforts to upgrade Honeywell's DLE bleed valves.
US data group Verisk Analytics has agreed to buy Scottish oil and gas research specialist Wood Mackenzie (WoodMac) for £1.85billion. The falling price of a barrel of oil is thought to have led to a boom in consultancy services such as that provided by Wood Mac, as energy companies seek to trim operating costs and take a more strategic look at investments.
We may find ourselves in one of the most challenging eras our industry has encountered but, whilst there are challenges and consequences ahead for many, there is also the opportunity to look at what can be done to control the costs of oil and gas projects at planning and execution stage.
Premier Oil today announced the start-up of gas production from the Pelikan field offshore of Indonesia. It follows first gas from the Naga field in the same Natuna Sea block in November.
Policymakers responsible for oil and gas industry taxation and regulation should be relocated from London to Aberdeen, a think-tank has said. Business organisation N-56 has set out a five-point action plan for the North Sea oil and gas industry in a letter to First Minister Nicola Sturgeon and UK Chancellor George Osborne.
Scottish explorer Cairn Energy says its UK North Sea Catcher and Kraken developments are on track for first oil from 2017. The Edinburgh-based company is targeted peak net production to Cairn of 22,500 barrels of oil equivalent per day.
Claxton Engineering Services has been awarded a contract with Statoil to supply conductor and internal centralizers to a minimum of 14 wells on the Gina Krog development offshore of Norway. First delivery under the deal, which was for an undisclosed sum, is scheduled for March 2015.
The drop in crude prices has bumped Scotland's employment outlook down to its lowest level in two years, according to a new survey from recruitment agency Manpower. At minus 1%, Scotland is the only part of the UK with a negative outlook going into the second quarter.
A Peterhead-based gas turbine servicing company has opened a new facility in Houston, Texas. Score Energy will use its new workshop for inspecting, repairing and upgrading fuel systems on gas turbines and other engine types, including the Siemens TB5000 and the Rolls Royce Avon.
An Aberdeen company has become the first to tap a joint industry and Scottish government-backed fund to support research and development projects. Raptor Oil, a pre-revenue start-up company specialising in wellbore data technology, has amassed a pot worth £1.5million to fund a research and development (R&D) project to help boost performance in the oil and gas sector.
The Organisation of Petroleum Exporting Countries (Opec) won’t change policy at its next meeting unless other producers cut first, according to a former Qatar energy minister. Producers' cartel Opec is scheduled to next meet in Vienna in June, seven months after deciding to maintain output levels and protect market share.
China’s commodity trade slowed in February as the lunar new year holiday crimped imports of oil, iron ore, copper and soybeans while exports of aluminum and steel fell. Oil and iron ore imports slowed to the weakest in three months, according to customs data released Sunday in Beijing.
Rose Petroleum has completed drilling the State 1-34 Mancos Well in Utah. The was spudded at the end of last year and has now been mobilised to to verify the the value of the discovered hydrocarbon.
A 150million-year-old rock took centre stage during an oil and gas-related visit by Germany's economics minister, Sigmar Gabriel, to Abu Dabi today. The rock is the first piece of a drill core from the Shuwaihat natural gas and condensate field.
Victoria Oil and Gas (VOG) says wholly-owned subsidiary Gaz du Cameroun (GDC) has issued completion certificates to ENEO Cameroon, Cameroon's power utility company, for all pipeline construction work and pressure reduction and metering facilities at two power stations in the port-city of Douala. The work has been completed ahead of the scheduled March 15 target date and GDC is ready to connect to the gas-fired electricity generations sets that are being installed by equipment partner Altaaqa Alternative Solutions Projects.
BP Egypt announced today another important gas discovery in the North Damietta offshore concession in the east Nile Delta. The Atoll-1 deepwater exploration well, currently being drilled using the semi-submersible rig Maersk Discoverer, has reached 21,000 feet depth and penetrated about 164ft of gas pay in high quality Oligocene sandstones.
Brazilian president Dilma Rousseff has asked citizens for patience as the country deals with a flagging economy and a widening corruption probe involving the state-run oil company and dozens of top politicians. In a nationally televised address, Ms Rousseff said her government will move to fix a serious fiscal problem after posting a primary budget deficit for the first time in more than a decade.
Updating the market on its Indian assets, Australia's Oilex said the 2015/16 work programme for proof of concept well Cambay-77H had been approved by both its joint-venture and the government of India. Oilex has commenced work on schedule critical tendering activities and expects to take advantage of the recent decrease in global oil and gas activity to achieve a reduction in drilling and other costs.