The fall in oil prices to their lowest in five years could mean current proposals for new North Sea tax allowances do not go far enough, oil and gas industry body Oil & Gas UK has said. The comments followed a new report from the Scottish…
Predicting oil price movements is as risky as exploring for oil itself. The average price for crude fell 10.3% from the start of 2014 to the date of the Scottish independence referendum on September 18. It fluctuated over this period – but few…
Controls, instrumentation, monitoring and handling systems firm EFC Group has been awarded contracts with major oil and gas drilling contractor companies to the value of £3.65 million. The company has already completed two BOP control system contracts with Ensco worth more £1…
Offshore aluminium support system provider Alphastrut has been awarded a six figure contract with Det norske to provide raised access flooring on the Ivar Aasen Northern North Sea development. The Alphastrut system will cover a total…
Statoil is hoping to extend the life of the Norwegian Sea Norne field to 2030 - more than 15 years after it was originally scheduled to be shut down. The Norway-based operator says the field life will be extended by tying in new discoveries in the area…
Lundin Norway received consent from the Petroleum Safety Authority of Norway (PSA) for exploration drilling at the Gemini prospect in the Central North Sea. The Island Innovator. From Island Drilling…
The Petroleum Safety Authority of Norway (PSA) is extending BP Norge’s use of the Valhall drilling platform (DP) and production and compression platform (PCP) facilities until 31 December 2023. Valhall field…
Independent energy consultancy ADIL has been awarded a contract to deliver a new web-based system to Centrica Energy that will allow the operator to manage operational risk and improve transparency across its North Sea assets. The deal…
UK independent explorer Trapoil has been forced to give up a string of licenses in the North Sea after failling to find farm-in partners to help fund work. The firm, which last year cuts its staff and saw its founders leave, 'to maintain value…
Turkey-based Promer Consultancy and Engineering selected AVEVA’s Integrated Engineering & Design solutions for major engineering projects. AVEVA Everything3D. From AVEVA. In…
Lundin Petroleum has announced a US$1.45 billion 2015 development, appraisal and exploration budget - representing a 31% drop compared to its forecast 2014 spending. Spending on development projects will drop about 30%, to $980 million…
Total has completed the flare out of the Ofon field on Oil Mining Lease (OML) 102 offshore Nigeria. The associated gas of the Ofon field is now being compressed, evacuated to shore and monetized via Nigeria LNG. “The flare-out of the…
Exploration drilling has started on the Tvillingen South prospect in production license 510 in the Norwegian Sea. The prospect is located on the Haltenbanken in the Norwegian Sea, approximately 28 km southeast of the Kristin field. The well…
Underground coal gasificatoin (UCG) focused firm Cluff Natural Resources (CLNR) has taken on an environmental and planning consultant for its proposed Kindcardine project in the Firth of Forth, Scotland. Environmental Resources Management…
While positive measures have been taken to attract investment in the UK’s exploration and production (E&P) sector, low oil prices and the country’s high tax burden mean that more significant changes are required to make new developments commercially viable…