From KPMG: Visions of Cheese
Whilst we are seeing a clear uptick in activity and the UK oil and gas industry is certainly on the way up again, the industry must continue to move forward. However, under current market conditions, how can companies capitalize on change whilst remaining stable and sustainable and, more importantly, will there be enough return for all?Over the past five years, the UK oil and gas industry has had to weather some fairly challenging economic conditions.
O&G Skills Requirements Shifting
Action is needed now to retain, retrain, recruit and renew the workforce in a rapidly changing UK oil and gas sector.These are the findings presented by energy skills body OPITO, who has set out a strategy to prepare the UK oil and gas industry for a shift in skills requirements over the next six years.OPITO’s Skills Landscape 2019 – 2025 report, part of the UKCS Workforce Dynamics research series…
Chrysaor to Buy ConocoPhillips’ UK Assets
Chrysaor has reached a deal to acquire ConocoPhillips’ oil and gas exploration and production assets in the UK for $2.675 billion, the companies announced on Thursday.Full-year 2018 production and year-end 2018 proved reserves associated with the assets being sold were approximately 72,000 barrels of oil equivalent per day (boepd) and approximately 99 million barrels of oil equivalent (boe), respectively.
Chevron Gets Green Light for Captain EOR
Energy giant Chevron announced Tuesday it has received approval from the U.K. Oil and Gas Authority (OGA) to move ahead with its plans for an Enhanced Oil Recovery (EOR) project that aims to unlock millions of extra barrels of oil and extend the life of the long-producing Captain field in the U.K. Central North Sea.Chevron North Sea Limited (CNSL), which operates Captain as 85 percent stakeholder…
Aker Solutions Upgrades Aberdeen Site
Aker Solutions today officially opens its upgraded Aberdeen services facility to help capture subsea sector growth in the UK and elsewhere. Demand is increasing globally for services at oil and gas fields offshore, including in the UK. Energy companies are seeking to maximize production and returns from existing assets and infrastructure amid tighter budgets. "Our investment in the Aberdeen services base demonstrates our commitment to the North Sea…
McDonald Takes the Helm at OPITO
Global safety, standards and workforce development organization OPITO has appointed John McDonald as CEO as the organization seeks to further drive the international skills agenda for the oil and gas industry. McDonald has been Interim CEO since January and was previously U.K. managing director for OPITO after joining the organization in 2012. The appointment comes after an external and…
UK 2015 Oil & Gas Output Up
Britain's oil and gas output rose in 2015 for the first time since the turn of the millennium, industry body Oil & Gas UK said on Monday, reversing a declining trend but coming as oil prices are trading at a seven-year low. The industry group, which represents oil producers active in the North Sea such as BP, Shell or ExxonMobil, expects British oil and gas production to have risen 7-8 percent, much higher than a 3-4 percent increase it predicted in September.
Decom North Sea Elects New Directors
On the eve of the Offshore Decommissioning Conference 2015, Decom North Sea (DNS), the offshore oil and gas decommissioning forum held its Annual General Meeting in St Andrews. Last night, the AGM saw five new board directors elected and five directors reelected from across a range of sectors within the oil and gas industry. New directors have been named as Alistair Hope, Alan Edwards, Sebastiaan Pauwels…
Energy Firms Partner to Cut Costs in the North Sea
Petrofac, Faroe Petroleum and Eni Hewett have established a cost-saving partnership to drive efficiencies and commercial synergies across U.K. operations in the Southern North Sea. The tripartite agreement sees collaboration between Petrofac (Duty Holder) and the respective equity owners and operators of the Hewett, Schooner and Ketch gas fields to share logistics and accommodation services across the facilities.
BP to Invest $1 bln in Upgrading Ageing North Sea Fields
British oil major BP will spend $1 billion to increase output from oil fields off the eastern coast of Scotland, it said on Wednesday, at a time when oil companies are seeking to exit the ageing UK North Sea basin. The investment in the Eastern Trough Area Project (ETAP) would secure the future of the field until 2030 and beyond, BP said in a statement. "These are challenging times for the industry and we are having to make hard choices," BP said in a statement.
