Current pipeline of UK blue hydrogen projects expected to top 2030 targets
New analysis from Westwood Global has shone a light on the rapid expansion of blue hydrogen on both sides of the North Sea.
Westwood Global Energy Group
UK well slot – Serica and Shell get spudding
As of 24 August, Westwood Global Energy reports that there are three exploration wells active, with two in the CNS and one in the NNS. One well completed at Edinburgh.
The FPSO is away, but will the BP Foinaven field be redeveloped?
A permanent feature of the West of Shetland for many years, the Foinaven vessel recently left the namesake BP field for the last time.
Shell North Sea gas prospect dubbed a ‘key’ well to watch by Westwood
A Shell (LON:SHEL) exploration target in the North Sea has been named among Westwood Global Energy Group’s ‘key wells to watch’ for the rest of 2022.
UK well slot: Orlov awaits after Edinburgh dud
As of 25 July, Westwood Global Energy reports that there are three exploration wells active, with two in the CNS and one in the NNS.
Subsea tree awards plummet as inflationary pressures prompt project postponements
Global energy project delays, stemming from tight supply chains, delivered a big blow to subsea tree awards in the first half of the year.
UK well slot – drilling poised to return to southern North Sea
As of 23 June, Westwood Global Energy reports that there is one exploration well active in the CNS. One appraisal well in the NNS was completed as an oil producer well since the last report.
Sobriety has the upper hand, for now, in exploration
A small group of deep-pocketed companies increasingly dominates exploration and, as yet, they are avoiding the boom-and-bust mentality of previous oil cycles.
Costly carbon: North Sea to spend $750 million on emissions allowances in 2022
The UK North Sea is expected to spend $750 million on emissions allowances this year, according to new research, with the price of carbon only set to surge.
Offshore rig day rates heading for highest level in ‘almost a decade’
The offshore drilling rig market is “much tighter” than previously thought, according to new analysis, with some segments “nearly sold-out”.
Operators to retain whip hand in dayrate negotiations, Westwood projects
Westwood Global Energy Group expects rig demand to increase around the world but with no rapid increase in dayrates.
Future ‘very uncertain’ for Aberdeen drilling firm Awilco
Analysts have said it “could be the end of the line” for Aberdeen-headquartered Awilco Drilling after the firm agreed to offload the remains of its fleet.
UK Well Slot: Dana Petroleum spuds Barra South appraisal well
As of 26 April, Westwood Global Energy reports that there is one exploration well and one appraisal well active, in the CNS and NNS respectively. One appraisal well is in the process of being suspended since the last report.
Norway Well Slot: Cambozola, Hamlet and Ormen Lange Deep
As of 26 April, Westwood Global Energy reports that there is one appraisal well and four exploration wells active.
M&A: North Sea deals won’t rush to meet oil price surge
Firms won’t be rushing into deals or investment off the back of higher oil and gas prices – the boom may even be stalling such activity in the North Sea, according to top analysts.
UK well slot – Jaws duds, Edinburgh spuds
As of 25 March, Westwood Global Energy reports that there is one exploration well and one appraisal well active, both in the CNS. One exploration well completed since the last report.
Norway Well Slot- Time to Rokke n’Roll
As of 25 March, Westwood Global Energy reports that there is one appraisal well and four exploration wells active. Three exploration wells are in the Northern North Sea and one in the Norwegian Sea. The appraisal well is in the Norwegian Sea. One exploration well programme has completed since the last report, with the Statfjord Kile well P&A dry. A total of four exploration wells have completed to date in 2022 and none have been successful.
Westwood bolsters rig market capabilities with new senior appointment
Leading energy consultancy Westwood Global Energy Group has appointed a new research director to its RigLogix team.
Cambo extension gives Siccar Point time to identify the right partner
Securing an extension to the Cambo licenses affords Siccar Point Energy time to find the right partner to progress the project.
Westwood Global – Western Europe subsea EPC spend in 2022 expected to hit highest level since 2013
Subsea engineering, procurement and construction (EPC) spend in Western Europe in 2022 is projected to reach its highest level in almost a decade.
With the Cambo licence due to expire soon, what options are open to Siccar Point?
While the future of the Cambo project remains on hold, Siccar Point Energy’s intentions for the scheme could soon become clearer.
Analysts predict surge of idle FPSOs as market overflows
More than 20 floating production storage and offloading (FPSO) vessels are currently awaiting redeployment across the globe.
Norway well slot: Three exploration wells active
Westwood Global Energy reports that there were three exploration wells active as of 24 January. One exploration well has spudded and completed in 2022.
Well slot: Two UK exploration wells active in early 2022
Westwood Global Energy reports that as of 24 January there were two exploration wells active in the UK.
North Sea ‘falling behind’ as global offshore investment returns to pre-pandemic levels
The North Sea is one of just a handful of regions “falling behind” as offshore oil and gas investment returns to pre-pandemic levels around the world.