Decommissioning remains a big consideration for any investor in the UKCS and, indeed, anyone divesting their interests. This is especially the case where the interests in licences which are changing hands are mature assets with a significant number of wells and attendant infrastructure.
The total sum of cash earmarked for infrastructure projects in and around Aberdeen between now and 2030 has rocketed by £1.7 billion to more than £10bn during the past year, new figures show.
A senior economist at one of the world’s biggest professional services firms will visit Aberdeen next week to help north-east firms navigate Brexit.
One of the world’s “Big Four” professional services firms is to move its Aberdeen business from the west end into prestigious new offices in the heart of the city.
Industry leaders discussed the potential need for a “new brand” for decommissioning at Offshore Europe yesterday as it “implies you’re getting rid of rubbish”.
Decommissioning is a topic which gets a reasonable amount of press coverage.
May 2019 marked the 50th anniversary of the Offshore Technology Conference (OTC) in Houston. While attendance figures may not be as high as in previous years, the event still provides a useful barometer for sentiment and activity across the oilfield service (OFS) industry.
The number of projects involving foreign firms investing in Scotland fell by almost one-fifth last year, a new report has revealed.
An facilities management firm which crashed into administration five months ago has announced plans for new offices in Aberdeen and Stirling.
The UK is the 8th most attractive location for new renewable energy development, a new report said.
After a period of relative quiet, North Sea oil and gas is increasingly in the private equity spotlight, amid renewed confidence that has spurred an appetite for deal making.
Oil companies are increasingly investing in low-carbon technologies that have the potential to disrupt their core and end-markets.
As many North Sea oil and gas assets reach the end of their productive lives, decommissioning is increasingly on the C-Suite agenda.
North Sea operators must treat oilfield service (OFS) firms with care or they could end up becoming “second-class clients” in a tightening market, an industry figure has said.
In eras of high oil prices, operators have focused on bringing oil to market, with less consideration for the costs and risks they incurred.
Global oil and gas total deal value increased by $79.7bn during 2018 to reach $426.8bn, despite a decrease of 18% in deal volume.
EY, one of the world’s largest professional services firms, has appointed a new global leader for oil and gas.
The oil industry is still guilty of rampant “waste” despite concerted efforts to drive efficiency during the downturn, a boss at BP said yesterday.
Oil companies must put their heads together to prevent a “battle for data ownership” erupting, a corporate finance expert said today.
The oil and gas sector needs clarity on the UK’s withdrawal from the European Union “pretty darn pronto”, an industry expert said today.
The North Sea’s “changing of the guard” will boost an oilfield services (OFS) sector creaking under the weight of sustained pricing pressures, a new report said.
Global oil and gas executives are preparing to accelerate investments in digital technologies, with the main goal of furthering their cost-saving ambitions.
On 10 January 2019, HMRC launched a new Profit Diversion Compliance Facility (PDCF) aimed at multinational enterprises who have used cross-border arrangements that HMRC considers may result in an artificial reduction in UK profits, including arrangements targeted by the Diverted Profits Tax (DPT) legislation.
Oil prices settling in a sweet spot of $60-70 per barrel would give North Sea firms more confidence to kick on with investment plans, industry experts have said.
“Significant obstacles” remain in overcoming "silo mentalities" and bringing digital technologies to oil and gas, according to a new report from EY.