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CMS

Opinion

CMS: Intricacies of interim terms

Reviewing the past year is made much easier for me by our annual publication on legal developments in oil and gas, the latest edition of which came out in September.

Oil & Gas

Decommissioning: turning trash into treasure

As decommissioning becomes a significant part of activity on the UK Continental Shelf, more businesses are taking the opportunity to expand their existing offerings to include decommissioning-related services.

North Sea

UK could adopt Norwegian tax system to incentivise exploration

One of the big challenges facing the UKCS is the need to increase the amount of exploration activity – the eight exploration wells drilled in 2018 represented the lowest level of activity since 1965, although there have been some notable recent successes such as the massive Glengorm gas discovery announced by Total in January and the technical success rate over recent years has averaged more than 50%.

North Sea

Shape of things to come in UK M&A market

Following a period of relatively low deal activity, in 2018 we started to see an uptick in deals – but that has paused slightly since the oil price fall at the end of 2018. Are there more deals to be done, or has oil price volatility cooled off the M&A market? What do the trends and themes seen in some of the latest UKCS M&A deals tell us?

Events

Teams in running for HR awards

Judges have whittled down dozens of applicants to reveal the shortlist for terrific teams and tremendous teachers at the north-east’s most prestigious HR awards.

Insights

How to plan for no-deal Brexit

Many businesses have been preparing for months for Brexit, but in hope and expectation there would be a withdrawal agreement under which we would have 20 months of transition to implement plans for our ultimate exit.

Africa

Oil and gas investment landscape in Nigeria

Nigeria is the largest economy in Africa and one of the most popular sub-Saharan states to have received foreign investment from European, US and Chinese investors over recent years. It is one of the world’s larger oil producing countries, with daily production of nearly two million barrels, more than twice that of the UK. It has been a member of the Organisation of Petroleum Exporting Countries (OPEC) since 1971.

Decom

From recycling to re-use

At Oil & Gas UK and Decom North Sea’s Decommissioning Conference in St Andrews in November there was a presentation about the potential for decommissioning to contribute to the circular economy, and in particular the need to move our focus from recycling to re-use.

Opinion

Cautious optimism for the year ahead

In the era of Trump and Brexit it’s a risky business trying to second guess what the future might hold, especially when it comes to the UK ‘s often volatile oil and gas sector. There are, however, some developments we can look back on from the last 12 months in trying to assess what might lie in store over the course of 2019.

Opinion

CMS: New models for old oil platforms?

Decommissioning is now a significant part of the landscape of activity in the UKCS – annual decommissioning expenditure has topped £1 billion since 2015 and may come close to £2bn when Oil and Gas UK reports its estimate for 2018 later this month.

North Sea

Inside track to decommission off Norway

Unlike the common practice in the UK, licensees in the Norwegian continental shelf (NCS) do not routinely provide or have the benefit of security for the cost of decommissioning the facilities and installations used to extract oil and gas.

Renewables/Energy Transition

Attracting debt funding within UK renewables sector

The UK Government’s decision to end certain renewable energy generation subsidies, including the closure of the Renewables Obligation to all new generating capacity from March 2017 and the intention to close the FIT scheme to new applicants from 1 April 2019 (with some exceptions), has necessarily triggered a reduction in the pipeline of new onshore projects across the nation’s renewable energy sector. As the Scottish Government strives to reach its target of generating 100 per cent of its electricity consumption and 11 per cent of its heat demand through renewable sources, the sector’s long term viability is more dependent than ever on its ability to continue to adapt to this more challenging environment, in order to secure external investment.

Opinion

China’s LNG policies and their increasing worldwide impact

China’s growing demand for non-contractual liquefied natural gas (LNG) will change the landscape in the next few years, influencing the global market, LNG prices, international LNG supply agreements and China’s domestic gas industry.

Promoted

Iraq’s oil potential still mainly untapped

With output of around 4.4 million barrels per day (as of March 2018), Iraq is the second largest oil producer in OPEC after Saudi Arabia, and holds the world’s fifth largest proven crude oil reserves.