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Oil and Gas UK

Events

OGUK 2016: Industry proves resilience but supply chain under threat

Few other sectors could have matched the British energy industry’s reaction to the challenges it has faced over the past 18 months, the chief executive of Oil and Gas UK (OGUK) said yesterday. Deirdre Michie said the oil and gas industry had shown its resilience by reducing costs and increasing production for the first time in 15 years last year. Companies have also shown their willingness to work together on projects such as inventory management and the standardisation of subsea projects, she said.

Events

OGUK 2016: Compromise key for North Sea future, industry expert says

Oil and gas majors must compromise to deliver an upturn in the sector’s fortunes, an industry analyst said yesterday. Stephen Halliday, group president of consultancy group Wood Mackenzie, said the energy industry was competitive by nature and that for serious progress to be made, the sector’s leadership had to get in a room together and collaborate. It comes days after PwC published a report saying the industry needed a “change in guard at the top” to disrupt its “we’ve always done it this way” mentality.

Oil & Gas

Tech developments can generate £1bln revenues for oil and gas industry, report says

The struggling oil and gas industry could unlock £1billion worth of revenues by developing new techniques for inspecting offshore infrastructure, a new report says. The study said companies’ efforts to check installations for corrosion and inspect vessels used to extract oil and gas were being hindered by technology gaps, which were lowering efficiency and increasing costs. It set out to identify new and existing technologies which could cut costs associated with these two key areas of asset integrity, without compromising on safety.

North Sea

OGUK seeking subsea data experts

Trade body Oil & Gas UK (OGUK) us seeking data experts to help the industry make sense of one of the world’s largest collections of subsurface oil information.

Oil & Gas

OGUK dismisses new report from trade union alliance

Industry body Oil and Gas UK (OGUK) yesterday dismissed a report ordered by an alliance of trade unions on the potential dangers of offshore rota changes to the North Sea workforce. The Offshore Co-ordinating Group (OCG), which commissioned the report, called on operators to stop moving offshore workers to 3:3 rotas until further research was undertaken. The report, by Dr Robert Stewart and the Scottish Centre for Employment Research (SCER), admitted that while it could not make “clear conclusions” about whether working regular three-week tours posed significant health and safety risks, it said that “there are suggestions this may indeed be the case”.

North Sea

OGUK lauds companies for “tooling up”

Oil and Gas UK (OGUK) yesterday hailed the increase in demand for “tools” it helped develop in an effort to improve efficiency in the industry. The trade association said more than 900 companies had signed up to the industry mutual hold harmless (IMHH) deed. OGUK said the deed, which was originally developed in 2002, helped firms clarify the allocation of risks and avoid doubling up on the insurance of identical liabilities offshore.

North Sea

UK oil and gas drilling down in 2015, new figures show

Exploration and appraisal drilling in the UK North Sea went down in 2015, new figures show. A dozen exploration wells were drilled in the North Sea last year, one fewer than in 2014, according to UK Government statistics published this week. Offshore appraisal drilling decreased from 14 two years ago to 12 in 2015.

Oil & Gas

Aberdeen MSP calls for safety over “cutting costs”

An Aberdeen MSP has warned the “first-rate” safety culture in the North Sea that emerged after Piper Alpha could be at risk as firms strive to cut costs. The SNP’s Mark McDonald is seeking urgent talks with Deirdre Michie, the chief executive of Oil and Gas UK.

North Sea

Oil industry to back new collaborative charter

The trade body for the North Sea oil and gas sector has called for the industry to back the tenets of a new charter that outlines collaborative behaviours to achieve “transformational change”.