Harkand Group, the oilfield services and inspection repair and maintenance (IRM) company has gone bust with the loss of 171 jobs in London and Aberdeen.
Moves to restructure infrastructure ownership in the North Sea were in the spotlight at an Oil and Gas UK (OGUK) business breakfast in Aberdeen.
Collaboration: what does it mean to you?
Roughly a third of oil producers are at high risk of slipping into bankruptcy this year as low commodity prices crimp their access to cash and ability to cut debt, according to a study by Deloitte, the auditing and consulting firm.
Oil and gas firms are struggling to work together better in order to maximise recovery in the North Sea, a new report has found. Deloitte’s survey of oil and gas operators and oilfield services companies revealed that a lack of effective supply chain collaboration means companies are missing out on maximising the potential value from the region. While 74% of respondents said collaboration was an “integral” part of their day-to-day business, only 27% reported that their efforts have resulted in a successful outcome, the report found.
The North Sea has continued to make headlines over the summer; mostly for the wrong reasons. But amid the doom and gloom of media reports lamenting the terminal influence of a low oil price, there have been glimmers of good news.
Exploration in the North Sea has continued to plummet due to ever spiralling costs and firms taking a “wait and see” approach to new regulation and taxes, new research has found.