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Latest Oil and Gas News

BG Group considers $1.7 Bln North Sea Platform sale

Published: Friday, 25 July 2014 in Oil Industry News.

British oil and gas company BG Group is considering selling its largest platforms in the North Sea for 1 billion pounds ($1.7 billion), The Times reported on Thursday, citing unnamed sources.According...   (...more...)

Shetland gas plant workers strike over pay

Published: Thursday, 24 July 2014 in Oil Industry News.

Construction workers at the Total gas plant in Shetland have downed tools in a dispute over pay.About 900 welders, pipe fitters and riggers staged a sit-in at the site next to the Sullom Voe oil termi...   (...more...)

UK government encourages investment in uHPHT O&G fields

Published: Wednesday, 23 July 2014 in Oil Industry News.

The UK government has published a consultation on a new cluster area allowance to encourage investment in ultra high pressure, high temperature oil and gas fields.There is still a considerable amount ...   (...more...)

First commercial flight of AgustaWestland AW189 to Cygnus field

Published: Wednesday, 23 July 2014 in Oil Industry News.

The first commercial flight of the much anticipated new generation AgustaWestland AW189 helicopter took place on July 21, 2014, as Bristow flew eight passengers out to the Cygnus field in the Southern...   (...more...)

Production resumes at Njord

Published: Tuesday, 22 July 2014 in Oil Industry News.

Statoil has resumed oil and gas production on the Njord A floating steel platform in the Norwegian Sea after a major reinforcement of the platform structure. Njord A, which produces the Njord and...   (...more...)

Bristow Certified to Fly AgustaWestland AW189

Published: Monday, 21 July 2014 in Oil Industry News.

Bristow announced on 17th July that it has been certified to fly the much anticipated new generation AgustaWestland AW189 helicopter.Bristow is the launch customer for the aircraft which has now been ...   (...more...)

Deloitte: North Sea oil firms adopt 'wait and see' policy

Published: Friday, 18 July 2014 in Oil Industry News.

Investment in the North Sea has stalled, with planned changes to how the industry is regulated cited as a possible cause, a new report has said.Business advisory firm Deloitte said many companies migh...   (...more...)

Funding announced for new oil and gas industry regulator

Published: Thursday, 17 July 2014 in Oil Industry News.

The UK government is to provide £15m in short-term funding to help kick-start a new independent regulator for the North Sea oil and gas industry.The Oil and Gas Authority (OGA), which will be based in...   (...more...)

Oil firm Chevron to cut 225 jobs from Aberdeen facility

Published: Wednesday, 16 July 2014 in Oil Industry News.

Oil company Chevron has announced plans to cut 225 jobs in Aberdeen.The company said the decision followed a review of its North Sea business - and would give it more flexibility.However, the firm sai...   (...more...)

Operators rising demand for Offshore accommodation units

Published: Wednesday, 16 July 2014 in Oil Industry News.

Growing demand for offshore accomodation vessels in the North Sea is increasing rates and accomodatoin quality as operators seek to improve spanner time, says analysts Douglas Westwood. The firm ...   (...more...)

North Sea tax review welcomed

Published: Tuesday, 15 July 2014 in Oil Industry News.

Industry body Oil & Gas UK has welcomed HM Treasury’s plans to launch a formal consultation into the future of the UK offshore oil and gas tax regime.The trade body says it believes the sector fac...   (...more...)

Aker Solutions sheds light on demerger proposal

Published: Monday, 14 July 2014 in Oil Industry News.

The board of directors of Aker Solutions has in accordance with the strategy disclosed April 30 resolved to propose to the company’s shareholders that Aker Solutions be split into two companies.The bo...   (...more...)

Wood Group to acquire Norwegian firm Agility Projects

Published: Monday, 14 July 2014 in Oil Industry News.

Oil services provider Wood Group has announced it is buying Norwegian engineering firm Agility Projects for about £96m.The Aberdeen-based company said the deal would strengthen its Norwegian offshore ...   (...more...)

North Sea oil and gas 'could be worth £20bn less than thought'

Published: Friday, 11 July 2014 in Oil Industry News.

North Sea oil and gas could produce £20bn less in revenue than originally forecast over the next three decades, according to the Office for Budget Responsibility (OBR).Chairman Robert Chote revealed t...   (...more...)

North Sea tax review critical

Published: Thursday, 10 July 2014 in Oil Industry News.

An independent commission has determined that radical fiscal and regulatory change is an absolute necessity to ensure that the remaining hydrocarbons on the UK Continental Shelf (UKCS) are fully explo...   (...more...)

North Sea workers at risk from 'culture of bullying'

Published: Wednesday, 9 July 2014 in Oil Industry News.

A FULL ­independent public inquiry into offshore helicopter safety has been demanded by MPs after they heard claims of a culture of "macho bullying" of worried North Sea workers.Rig workers were t...   (...more...)

MPs call for oil companies to face helicopter safety inquiry

Published: Tuesday, 8 July 2014 in Oil Industry News.

MPs have called for a public inquiry into whether commercial pressure from oil and gas companies affects offshore helicopter safety.The Transport Select Committee also want a full examination into the...   (...more...)

Expert report urges radical reforms to North Sea oil industry

Published: Monday, 7 July 2014 in Oil Industry News.

Radical changes are needed in the oil and gas industry to make sure the remaining resources in the North Sea provide the greatest economic benefits, an expert group has warned.The Independent Expert C...   (...more...)

ConocoPhillips confirms North Sea gas field extension

Published: Monday, 7 July 2014 in Oil Industry News.

US energy giant ConocoPhillips has confirmed that first production has been achieved from an appraisal well, extending the Jade gas condensate field in the UK Central North Sea.The Jade field is tied ...   (...more...)

North Sea Helicopter Fall Suspected Suicide

Published: Saturday, 5 July 2014 in Oil Industry News.

A Rig worker on Statoils Troll A Oil Platform who died after falling 600m from a Helicopter over the North Sea on Thursday is thought to have committed suicide. An air ambulance was sent to the p...   (...more...)

Super Puma ditching 'responsibility accepted' by Airbus Helicopters

Published: Friday, 4 July 2014 in Oil Industry News.

Lawyers representing workers injured in a Super Puma ditching off Fair Isle in 2012 have said Airbus Helicopters has accepted responsibility.All 19 on board the Super Puma EC 225 were rescued safely a...   (...more...)

New West of Shetland hub emerging

Published: Friday, 4 July 2014 in Oil Industry News.

A cost reduction program has meant Total has now decided to move forward with its West of Shetland Edradour subsea development, the French oil major said today. Edradour, in Block 206/4a, in abou...   (...more...)

Hanssen oil discovery in Barents Sea, offshore Norway

Published: Thursday, 3 July 2014 in Oil Industry News.

Tullow Oil plc (“Tullow”) announces that the Hanssen wildcat well, in production licence 537, offshore Norway, has encountered a 20-25 metre oil bearing sandstone with good reservoir properties in the...   (...more...)

Patient dies after stepping out of helicopter over North Sea

Published: Thursday, 3 July 2014 in Oil Industry News.

A man, working on Statoil’s Troll A platform in the North Sea, fell to his death after being lifted off by a helicopter.According to Sysla.no, the man, in his 30s, was feeling ill and the helicopter a...   (...more...)

MOL Group adds to North Sea assets

Published: Wednesday, 2 July 2014 in Oil Industry News.

Premier Oil has sold interest in six Central North Sea offshore licenses to Hungary’s MOL Group for US$130 million, the duo announced on 30 June 2014.The sale includes non-operated equity stakes in th...   (...more...)

Scotland 'has modest reserves' of shale gas and oil

Published: Monday, 30 June 2014 in Oil Industry News.

Scotland has only a "modest amount" of shale gas and oil, according to a new study.The British Geological Survey report was commissioned to decide whether "fracking" could be used in Scotland.It estim...   (...more...)

Hurricane boosted by ‘impressive’ well results

Published: Monday, 30 June 2014 in Oil Industry News.

North Sea explorer Hurricane Energy saw its shares surge in value by almost a quarter yesterday after revealing “particularly impressive” test results from a well at its Lancaster discovery west of Sh...   (...more...)

BP 'has turned a corner in North Sea output'

Published: Friday, 27 June 2014 in Oil Industry News.

THE head of BP's North Sea business has said the oil and gas giant expects to increase production in the area over the next few years following heavy investment in areas like West of Shetland.Trev...   (...more...)

Statoil establishes frame agreement with Kvaerner

Published: Thursday, 26 June 2014 in Oil Industry News.

Statoil today enters into a frame agreement with Kvaerner for the delivery of jackets for the North Sea in the period up to 2020. At the same time, the companies will sign a letter of intent for the d...   (...more...)

Oil and gas institute to launch at Strathclyde University

Published: Wednesday, 25 June 2014 in Oil Industry News.

A new institute designed to support the oil and gas industry is being launched in Scotland with a view to helping companies compete internationally.The Strathclyde Oil & Gas Institute is to be bas...   (...more...)

Oil and Gas News Archive

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