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Oil & Gas

Total applies to DECC to up production at North Sea field

20/11/2015

Total E&P has applied to the UK Government’s Department of Energy and Climate Change for consent to increase production on the Dunbar field. A public notice from the French energy company said it had made its application for the field, 133km off the east of Aberdeen, in accordance with all the necessary documentation.

Oil & Gas

Shell UK charged over North Sea leak

20/11/2015

A case against oil major Shell is expected to call at Aberdeen Sheriff Court next week after it was charged following an investigation in a leak at a North Sea platform.

Oil & Gas

Norway oil fund backs push to end bank dominance over bonds

20/11/2015

The world’s largest sovereign investor wants to curtail the big banks’ hold over bond trading. The $860 billion Norwegian sovereign-wealth fund is backing the European Union’s campaign to bring transparency to the bond market and make debt trade more like stocks. The fund says the current setup -- where investors call a bank to get a price -- is dysfunctional and should be fixed by forcing the banks to publish their prices.

Oil & Gas

Aptomar signs deal with OMV

20/11/2015

Aptomar has signed a three-year frame agreement with OMV Norway to deliver integrated field monitoring services for the operator’s future drilling activities. The agreement will see the company report and detect unintended oil spills using its maritime control centre.

Oil & Gas

Oil heads for third weekly decline as US stockpile continues gain

20/11/2015

Oil headed for a third weekly decline on signs a global glut will be prolonged amid the longest run of US stockpile gains in seven months. Futures are down 0.8 percent this week after falling below $40 a barrel Wednesday for the first time since August. Crude inventories expanded for an eighth week, the longest stretch of increases since April, government data showed Wednesday. That’s sustaining supplies in the world’s biggest oil consumer more than 100 million barrels above the five-year average level.

Oil & Gas

First gas from Diever West field

20/11/2015

Parkmead has begun gas production at the Diever West gas field in the Netherlands. The company said the field, discovered in 2014, has been tied into existing production facilities through a new dedicated pipeline with gas extraction via the Garjip treatment system.

Oil & Gas

Eni sells remaining stake in Galp

20/11/2015

Eni said it has sold its remaining 4% stake in Portugal’s Galp Energia in a $348million deal. The Italian oil and gas group said it has sold the shares through an accelerated bookbuilding procedure at a price of €9.81 each.

Oil & Gas

Statoil makes small discovery in North Sea

20/11/2015

Statoil said it has completed drilling of the Tarvos exploration well offshore Norway after making a small discovery. The exploration well 34/8-16 S was drilled on the east flank of the Visund field in the northern part of the North Sea. The well had been drilled by the Songa Trym drilling rig initially but following its completion the rig’s contract had been cancelled.

Oil & Gas

Obama and Putin agree on bombing Islamic State’s oil pipeline

20/11/2015

When Vladimir Putin met with Barack Obama in Turkey on Sunday to discuss the terrorist attacks in Paris, he brought along some photos. The satellite images showed rows of trucks laden with Islamic State oil stretching into the Syrian horizon, a person familiar with matter said. Putin’s point was that US bombing alone can’t eliminate the vast smuggling network that provides much of the extremist group’s funding. Obama was already well into a stepped-up campaign against the group’s oil resources and that night US aircraft destroyed 116 tankers hauling crude from seized fields.

Oil & Gas

Culzean FSO to be built in Singapore

Japanese company Modec has contracted out the project to build a floating storage and offloading (FSO) vessel for Maersk Oil’s £3billion Culzean gas development in the North Sea. Singapore’s Sembcorp Marine said it had secured the work to design and build the FSO, with the project being handled by its wholly-owned subsidiary Sembcorp Marine Rigs and Floaters (SMRF). Scheduled for delivery in the first quarter of 2018, the vessel will be Sembcorp’s first FSO new-build secured on a full turnkey project basis.

Oil & Gas

Africa oil boom fades as $50 crude shuts door on high-cost deals

20/11/2015

“On the brink of a boom,” was the banner on PricewaterhouseCoopers LLP’s review of Africa’s oil industry 16 months ago. Now, oil below $50 has made more than two out of three investment projects on the continent non-viable. “Capital markets are effectively closed to the oil and gas industry” in Africa, Tony Hayward, former head of BP Plc and now chairman of Genel Energy Plc, said at a conference in Cape Town last month. “A decade of exploration, with billions of dollars invested and only limited commercial success.”

Oil & Gas

Offshore Achievement Awards 2016: Entries to close soon

There is just over a week left to enter the 2016 Offshore Achievement Awards, which offers companies and individuals the opportunity to be recognised amongst some of the industry’s greatest success stories of the last 30 years. The awards scheme this year has been adapted to reflect the challenges facing the industry since the falling price of oil has impacted the North Sea industry. This year sees the return of well-recognised categories, such as Great Large and Great Small Company, Young Professional, Emerging Technology, Safety Innovations, The Innovator and Export Achievement.

Oil & Gas

Rock Energy targeted for board shakeup by Activist FrontFour

19/11/2015

US hedge fund FrontFour Capital Group has sent a letter to oil and gas producer Rock Energy Inc requesting a special meeting where it plans to replace three members of the board. The changes are necessary “in order to effect immediate and significant changes to the board in order to preserve and enhance shareholder value,” FrontFour said in a statement Thursday.

Oil & Gas

No new date set for Utah oil and gas auction

19/11/2015

A new date has not been set by the US government for an oil and gas natural lease auction of federal funds in Utah. Earlier this week it was postponed after overwhelming interest from the public, including climate activists.