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UKCS

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.

North Sea

Island Offshore lands BP hire contract

Norwegian shipping company Island Offshore has confirmed that its Island Constructor has been awarded a contract by BP in UK waters. The Constructor will deliver light well intervention services in July with options to run into August, the company said.

Opinion

Opinion:UKCS doesn’t need hand-outs, it needs a tough-minded business approach

Several years ago I spent time in Australia. Visiting a North Queensland mining community I fell into conversation with an engineer who said something to the effect that one of the biggest problems for the industry Australia-wide was the inability to fight ballooning costs and wage inflation. His further comment was even harder hitting. There were just too many people on the payroll, and too many people very well paid to perform slight-to-unimportant tasks.

Oil & Gas

Iran in the spotlight at Aberdeen event

North-east firms will be welcomed into Iran as its huge oil and gas industry seeks foreign support, an expert on the newly opened market said yesterday. Jamie Stark, a partner at law firm Burness Paull specialising in oil and gas services and regulatory compliance, said there were a wealth of new opportunities in the Middle East country as a result of the recent lifting of trade sanctions.