North Sea

UK could adopt Norwegian tax system to incentivise exploration


One of the big challenges facing the UKCS is the need to increase the amount of exploration activity – the eight exploration wells drilled in 2018 represented the lowest level of activity since 1965, although there have been some notable recent successes such as the massive Glengorm gas discovery announced by Total in January and the technical success rate over recent years has averaged more than 50%.


BP-Greenpeace standoff will have significant economic consequences


The immediate economic consequences of the BP-Greenpeace standoff over the Vorlich field are obvious: the drilling operations are delayed and, as operations of this type are very costly, only a few days can have a considerable impact.

North Sea

UK supply chain: Going the distance?


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.


Marathon Oil profits plunge by half


Houston's Marathon Oil reported a $174 million net profit for the first quarter that fell about 50 percent from the first three months of 2018.