An aging asset doesn’t mean unmanageable, unprofitable and inoperable. There is still potential to be realized from the UK Continental Shelf (UKCS), despite the challenges of the current climate. In terms of oil alone, it is estimated that there are around 25 billion barrels to be recovered…
Faroe Petroleum has agreed to buy UK explorer Roc Oil GB, including its 12.5006% stake in the North Sea Blane field and a 12% interest in the Enoch field, also in the North Sea for up to US$20 million. Roc Oil GB is a subsidiary of Roc Oil Company…
Private equity backed Proserv Group has bought Aberdeen-based subsea acoustic positioning firm Nautronix. Employing 120 people, Nautronix is recognised for its through-water digital acoustic wireless communications and positioning systems…
Singapore’s Keppel Offshore & Marine has agreed to buy Cameron International’s offshore rig business for US$100 million, comprising of the LeTourneau jackup rig designs. Keppel says the LeTourneau suite of jackup rig designs have been…
High oil prices in a mature basin led to a tight market and cost escalation. With low oil prices, the industry is working hard to rein in spending. Elaine Maslin spoke to Oil & Gas UK CEO Deirdre Michie on some of the initiatives underway…
As the oil price further deteriorates, major oil-producing countries are looking to the future and to sustainability. Recently, Bloomberg forecast that two-thirds of the US$12.2 trillion global investment in capacity-generation to 2040 will be in the renewables sector…
Meg Chesshyre speaks with HSM Offshore business development manager Jaco Fleumer about the firm’s current work program and future prospects. A18 Topside for Petrogas Transportation at HSM Yard…
The recent rise in domestic crude oil production from 5.6 MMb/d in 2009 to 8.7 MMb/d in 2014 and the prospect of continued supply growth have sparked interest in the question of how the relaxation or removal of current policies, which restrict…
Oil & Gas UK has launched an Efficiency Task Force (ETF) – a group tasked with driving improvement, making the sector more competitive, and supporting the drive to maximize economic recovery from the UK Continental Shelf. Oil & Gas UK…
Total has agreed to sell all of its interests in the FUKA and SIRGE gas pipelines and the St. Fergus Gas Terminal in a US$905 million (£585 million) deal. Subject to regulatory approvals, the assets will be bought by North Sea Midstream Partners…
A team of subsurface and facilities engineers have been working together to create a viable, small footprint solution for a string of sour fields in the UK’s Outer Moray Firth. Mike Cooper explains. Cooper…
UK authorities have given the green light to one of the largest new field discoveries in the UK North Sea – Maersk Oil’s £3 billion (US$ 4.5 billion) Culzean development. The project has been welcomed as a “clear signal the North Sea…
North Sea industry body Oil & Gas UK has announced a number of appointments of member company representatives to its board. Alan Corbett, managing director at Bristow Helicopters, will represent the aviation sector, replacing Richard Mintern of Babcock International Group…
Houston-based McDermott received its largest single award in the history of its Middle East operations today (27 August) by Saudi Aramco for brownfield work off Saudi Arabia. Signing the LTA. Image from McDermott…
Two people have died after a vessel under construction at Daewoo Shipbuilding & Marine Engineering Co. (DSME) caught on fire today (24 August) in South Korea, according to news reports. The Geoje Fire Station said a 39-year-old worker…
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