The UK oil and gas sector must be alive to the threat of rising costs in its quest to become the global expert in cost-effective decommissioning, industry experts have warned.
If necessity is the mother of invention, the Committee on Climate Change’s “Net Zero – The UK’s contribution to stopping global warming” report should spur a jump-start for the carbon capture, usage and storage (CCUS) industry in the UK.
Ineos’ investment in the Forties Pipeline System (FPS) was hailed as a show of faith in the North Sea’s future by industry leaders.
Industry body Oil and Gas UK (OGUK) said today that rules governing offshore decommissioning were "right, at this point in time".
Reforming the decommissioning tax relief system would create a “sweet spot” for the UK Government and the oil and gas sector, an industry expert has said.
Oil and gas industry woes have created a potential skills crisis for North Sea decommissioning, an expert has warned.
A study of nearly sixty major North Sea oil and gas projects has shown that they are typically late and significantly over budget.
The interim chief executive of Opito told MPs yesterday the UK Government’s new apprenticeship levy will have “unacceptable” implications for Scotland’s oil and gas sector.
Two major new milestones for the beleaguered UK North Sea oil and gas industry have highlighted resilience in the face of a downturn.
Industry body Oil and Gas UK (OGUK) has published a blueprint for cutting development costs for so-called small pools in the North Sea by up to 25%.
Industry needs to get “bolder and scarier” if it is to unlock the potential of the North Sea’s marginal fields, an industry chief has said.
The global oil and gas industry is facing a glut of new-build assets with no contracts in place for their use, the boss of an Aberdeen-based energy service firm has warned.
Energy Voice's Guest Editor Philip Rodney sat down with Oil and Gas UK's Upstream policy director Mike Tholen to discuss 2016's influence on the North Sea. Find out why Tholen thinks the industry can be best described as an 'elephant in a David Attenborough programme' below.
A senior voice within the offshore industry has said the ability to access the European single market with the “least friction possible” will be vital to efficient trade post-Brexit.
Budget day is always faced with some trepidation in the Oil & Gas UK offices – but I’m please to say that yesterday felt like a decisive move in the right direction.
Oil and Gas UK today made a rallying call to the UK government to rethink its tax strategy or risk costing the North Sea a billion barrels of oil and hundreds of thousands of jobs.
As an industry we are going through a tough time – and all indications are pointing towards it staying that way. With the value of our product having plummeted to just over $30 a barrel and respected commentators suggesting it’s going to be lower for longer than we might hope, the fear is that it may get worse before it gets better as globally some $400 billion has been cut from E&P budgets.
Oil & Gas UK's economics director Mike Tholen said it was important the industry continue to boost confidence and encouragement investment in the North Sea following Chancellor George Osborne’s Autumn Statement and Spending Review.
The industry’s £2billion of savings isn’t without regrets, according to Oil & Gas UK’s Mike Tholen. Speaking at Offshore Europe, the economic director acknowledged that savings were also reflection of mass overspend. “I suspect that we should have some regrets that we didn’t evolve earlier, “ he said.