Oil and gas bosses have praised the industry’s “continuing efforts” after production efficiency on the UK Continental Shelf hit the Holy Grail of 80% last year.
One of the largest offshore discoveries in UK waters of the last decade has had its recoverable resources cut by 40% following an appraisal well.
A renewed optimism in oil and gas will drive M&A activity forward in the new year, a top north-east dealmaker has said.
Australian firm Oilex has entered into an exclusivity agreement with Koru Energy to buy up to a 50% of the Knox and Lowry, and Whitbeck gas discoveries in the East Irish Sea.
Investing in technology and boasting a wealth of highly competent inspectors and technicians, Bilfinger Salamis UK’s inspection department delivers quality services to clients across north-west Europe.
Industry buzz continues to grow around predictive maintenance (PdM), which is seen as a significant contributor to improving efficiency in the oil and gas sector.
A Norwegian geological and geophysical market leader has underlined its commitment to the future exploration of the North Sea by opening an office in Aberdeen to serve its existing and new clients on the UKCS.
As many prepare to head across to Houston for 50 years of OTC, it’s worth noting that, while there will be a Golden Anniversary Gala Dinner to mark that milestone, the opening session of the conference is about the next 50 years for our industry.
Aberdeen University researchers have predicted a huge improvement in the UK North Sea’s prospects in a new report.
The Oil and Gas Authority (OGA) has unveiled its latest initiatives to boost exploration activity in the North Sea.
Jim House, CEO of Neptune Energy, said today at Oil and Gas UK’s Business Outlook breakfast that he “didn’t expect to be back so quickly”; a sign that a North Sea oil recovery is in full swing.
The merger and acquisition (M&A) activity within the North Sea has surpassed $8billion in 2017, an indication that confidence is gradually returning to the North Sea.
By the mid-1990s post Piper Alpha safety standards had started to plateau.
The Oil and Gas Authority (OGA) has once again released new data in an effort to attract and incentivise North Sea exploration.
Over the last year or so there has been increased activity in mergers and asset transactions in the oil and gas sector. This certainly includes the UK Continental Shelf. With respect to asset transactions, in the immediate aftermath of the oil price collapse, there was little activity. Both potential sellers and buyers had to assess the effects of the price fall on the value of assets. Cost reductions and valuation of their effects were a priority. Also, there was great uncertainty regarding future price behaviour which made agreement valuations more difficult.
A total of 17 oil and gas operators have been awarded licences in the 29th 'frontier' offshore Licensing Round.
Energy consultancy Wood Mackenzie (Woodmac) has predicted a bonanza of mergers and acquisitions (M&A) activity on the UK continental shelf in 2017.
Innovation, diversification and transformation are three words which I make no apologies for repeating. All will be the bedrock upon which Aberdeen’s future is built.
Premier Oil said it has received a monthly deferral in respect of the test of its financial covenants.
Oil major Shell said the reaffirmed measures in the Autumn Statement would continue to help deliver a "strong and sustainable" future for the North Sea.
A groundbreaking new report predicts a steady rise in decommissioning work in the UK and Norway over the coming decade.
The Oil and Gas Authority (OGA) said yesterday that the 2016 target for production efficiency on the UK continental shelf (UKCS) was “unlikely” to be met.
Xcite Energy shares dived yesterday after the company said bondholders would pursue enforcement action over their loans unless a restructuring of the financial terms hands them near-100% ownership.
Technology innovation is going to play a critical role in the next chapter of oil and gas recovery from the UK continental shelf (UKCS) and in driving export growth in our UK-based supply chain.