UK/UKCS
News
January 19, 2021
The five-year consolidated services contract, valued at $130 million, will see Wood leverage its experience and capability in late life asset optimization and management to extend field life, lower costs, and reduce late life carbon intensity across the Hub’s offshore assets in the East Irish Sea and the Barrow onshore gas terminal on the northwest coast of England.
News
January 15, 2021
The UN Principles for Responsible Investment estimates that some 42 companies announced net-zero targets in 2019 and 2020. More than half of those plan to plant trees, preserve forests or capture CO₂ in order to get there, even as their own businesses continue to warm the atmosphere.
News
January 15, 2021
Marubeni Corp. could all but exit the UK North Sea as it looks to sell its main oil and gas fields in the region, according to people with knowledge of the matter.
News
January 13, 2021
Maersk Drilling has been awarded a contract from Spirit Energy for the harsh-environment jack-up rig Maersk Resolve to drill one development well at Grove North East in the UK North Sea.
News
January 13, 2021
Upon completion of the acquisition, ITC Global will become a cornerstone of the Marlink Group, supporting the expansion of Marlink's global leadership in the energy and enterprise markets.
News
January 08, 2021
Democratic wins in elections in Georgia mean the party is poised to take control of the Senate, House and presidency, spurring a broad move higher in financial markets. That came after Saudi Arabia pledged earlier in the week to cut production by 1 million barrels a day in February and March.
News
January 08, 2021
“Opening the shale revolution to the world through the export ban lifting helped shift the global oil market psychology from supply scarcity to abundance,” said Karim Fawaz, director of research and analysis for energy at IHS Markit. “It unshackled the U.S. industry to keep growing past its domestic refining limitations.”
News
December 17, 2020
The gross consideration for the transaction, as at the locked box date of 1 January 2019, is $284 million and the final net consideration (net of cash acquired), as of 17 December 2020, is $203 million.
News
December 10, 2020
The Sixth Carbon Budget published by the Committee on Climate Change makes the case for meeting as much as possible of the UK’s ongoing domestic needs from domestic production, warning of the risk that lower production costs internationally could favor imports.
News
December 07, 2020
Over the past several weeks, Asian refineries have snapped up crude oil from the Middle East, the U.S. and Russia as buyers received more government allowances to boost imports after the start of next year. Demand for North Sea barrels was slow to pick up, but even that’s now started to change.
News
December 04, 2020
Denmark, the European Union’s biggest oil producer, will stop offering new licenses in the North Sea and phase out production altogether in 2050 as it takes an historic step toward a fossil-fuel free future.
News
December 02, 2020
Petrofac has signed a three-year partnership with Intoware, a leading provider of workflow automation software for mobile applications, to develop and deploy workflow automation software that is specifically tailored to the requirements of the oil and gas industry.
News
November 26, 2020
Covering two highly prospective areas of the UK Continental Shelf, the OBN Cornerstone 2020 survey project represented a total of 813,000 man-hours with zero Lost Time Incidents.
News
November 25, 2020
Reduced activity levels, project cancellations and workforce cuts as a result of the coronavirus pandemic have slashed business confidence across the UK’s oil and gas sector, according to an industry report.
News
November 09, 2020
Three platforms Tern, Cormorant Alpha and Harding will initially use the AI predictive analytics technology, with an option to add a fourth platform, North Cormorant once sensors and communications are installed.
News
October 27, 2020
The number of workers on offshore oil and gas installations decreased by around 4,000 as the UK went into lockdown in March this year, official figures published by industry body OGUK confirm.
News
October 21, 2020
After a slow start to the year as the coronavirus crisis disrupted plans across the industry, asset-sale activity in the North Sea has picked up in the second half.
News
October 16, 2020
Enpro’s patented technology enabled the safe access and removal of ‘attic’ oil from concrete storage cells at the base of the Brent Bravo platform in 140m water depth. The system, which on previous campaigns had been deployed direct from platform topsides, was this time deployed from a DeepOcean construction vessel, leading to a significant reduction in operating days per cell.
News
October 09, 2020
The settlement will restore production at six fields already shut down by the dispute and prevent an escalation to another six over the weekend. Those facilities pump about 130,000 barrels of crude oil and 43 million cubic meters of gas a day.
News
October 06, 2020
Boris Johnson’s plan to quadruple the size of the UK offshore wind industry will require $58 billion of investment and careful management of what’s a tricky building process in some of the world’s roughest waters.
News
October 06, 2020
The deal marks the end of the road for one of the oldest independent oil explorers. After years laboring under a mountain of debt Premier has bowed to pressure from creditors, with CEO Tony Durrant abandoning his plan to acquire some of BP’s North Sea assets and agreeing to step down.
