A fresh investment of £140million has once again extended the life of a North Sea oil field, safeguarding 70 jobs in the process.
The focus of industry and the OGA on asset stewardship has played a vital role in the turnaround of performance across the UKCS.
UK energy service companies have to be able to “walk and chew gum” if the industry’s Vision 2035 scenario is to be achieved, a boss at the Oil and Gas Authority (OGA) says.
Sir Ian Wood has warned that the industry will “need to do something dramatic” if it hopes to recover the 20billion barrels of oil remaining in the North Sea.
The regulatory framework represents a huge shift for oil companies — and the industry as a whole — in terms of the way it works, as well as its mindset.
The Oil and Gas Authority (OGA) has announced the new MER UK task force chair appointees ahead of a forum in Aberdeen.
The Maximising Economic Strategy (MER UK) was launched to leverage every last drop of North Sea oil, encouraging firms – even rivals – to work together towards success for the basin. Watch the video to see which firms have heeded the call and how they are delivering the initiative.
The Oil and Gas Authority (OGA) has published more than 400 new “recovery factor benchmarks” for oil and gas fields in the UK North Sea.
If the ill-informed hysteria surrounding the safety of fracking is anything to go by, I can imagine the headline above being used to describe a highly promising microbial enhanced oil recovery (MEOR) technique.
The Oil and Gas Authority’s (OGA) technology guru has said that sharing the risk on large well campaigns will help put an end to the industry's race-to-be-second mentality.
Industry chiefs have said the Oil and Gas Authority (OGA) can make a telling contribution to efforts to support the North Sea supply chain.
A North Sea industry chief has suggested the sector has an image problem it needs to overcome.
The chief of the Oil and Gas Authority (OGA) said yesterday that area planning was probably the most difficult aspect of the regulator’s work.
Where is it better to invest in offshore oil and gas – Norway or the UK?
The Oil and Gas Authority (OGA) yesterday vowed to up its game to match Norway’s gathering and provision of production data.
The head of decommissioning at the Oil and Gas Authority (OGA) has outlined his vision of what success for the segment would look like.
The Oil and Gas Authority (OGA) has touted the possibility of a federal board being created for sharing exploration data.
The Oil and Gas Authority (OGA) yesterday published its strategy to help the UK supply chain boost its turnover by more than £200billion over the next 20 years.
Exploration is the lifeblood of the oil and gas industry. In order to maximise the economic recovery of the UKCS’ oil and gas resources, exploration and appraisal (E&A) activity must be revitalised in both mature and frontier plays.
The Wood Maximising Recovery review proposed that an Asset Stewardship Strategy should “ensure that operators are held to account for the proper stewardship of their assets and infrastructure.”
Over the past 50 years, the UK continental shelf (UKCS) has grown to become one of the world’s most diverse and technologically advanced basins with a successful track record of developing and deploying new technologies. Despite a fluctuating oil price, investment in technology presents significant opportunities to improve Opex and Capex efficiencies, reserve recovery and create value through supply chain exports.
The Oil and Gas Authority (OGA) today launched a one-day conference aimed at tackling maximising economic recovery (MER UK) in the North Sea.
The 1st October marks a pivotal date for the Oil and Gas Authority (OGA) as we transition into a Government Owned Company, or GovCo, a step designed to reinforce our independence and our ability to act in the interests of the Maximising Economic Recovery (MER) UK Strategy. Since the OGA began we have made clear we believe strongly that the industry is best served by a successful “tripartite” approach bringing together the OGA, industry and the government to collaborate and help create the conditions for a successful next phase of the UKCS.
Government and industry have a two year window of opportunity to ensure a strong future for the North Sea, a new report said. The study said three in five oil and gas executives are positive about the basin’s future. Titled, A Sea Change, the PwC report also said significant progress had been made to improve cost efficiency across the basin and noted a “real sense of urgency” to create one last “cycle of success”.
The UK oil and gas industry is on the verge of one of the most fundamental changes in its history when the Energy Act receives Royal Assent, according to an oil and gas specialist at law firm Bond Dickinson LLP.