The resilience of North Sea industry’s recent cost cutting crusade faces an acid test in 2019, a new survey shows. After years of prices being squeezed by the exploration and production companies, some energy service firms are starting to push up rates, according to a poll from DNV GL – technical advisor to the oil […]

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Supply chain cost inflation must be balanced by continued efficiency gains if North Sea industry is to remain competitive, a boss at DNV GL − Oil and Gas said. The UK oil and gas industry is “not yet out of the woods”, despite a new survey pointing to higher levels of confidence among senior professionals, […]

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A total of 11 projects, with a future reserves value of more than £3.8billion, are expected to be sanctioned in the UK North Sea this year, according to Global Data. A new report from the consultancy states 85 projects globally will be sanctioned this year, with huge developments in Russia and Mozambique leading the way […]

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Bosses at Cairn Energy said today that cash flow from its North Sea interests would help the firm take advantage of “significant growth opportunities”.  The Edinburgh-headquartered company has a 20% working interest in the Premier Oil-operated Catcher field and 29.5% of Kraken, operated by EnQuest. Cairn’s net production from the two fields averaged 17,500 barrels […]

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First oil from the Orlando field in the North Sea should be achieved before the end of March, a former project partner said. Atlantic Petroleum is no longer involved in the development, having sold its 25% stake in the field to Aberdeen-headquartered Decipher Energy in 2017. But the sale agreement entitled Atlantic to 2% of […]

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Spirit Energy and Taqa have lost a legal battle with Marathon Oil over a £68million deficit in a North Sea pension scheme. The Court of Appeal has ruled Spirit and Taqa are liable for 54% – £36.9m – of the bill to meet the deficit in the programme for workers on the Brae fields. Spirit […]

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Oil firm Hurricane Energy’s efforts to start production from its Lancaster field have suffered a setback. The Aoka Mizu floating production, storage and offloading (FPSO) vessel was forced to return to the Cromarty Firth after running into difficulties during the hook-up phase at Lancaster, west of Shetland. On Friday, the rope for pulling in the buoy for […]

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The boss of Glacier Energy Services has said there is plenty of work to “go after” amid growing confidence in the North Sea oil and gas industry. Scott Martin, who launched Glacier in 2011, alongside Dave Sturrock and Ciaran O’Donnell, and is now its chief executive, also said diversification was key to the firm’s future […]

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Offshore service market spending will outgrow onshore shale this year, energy researcher Rystad Energy said. Despite the recent oil price slide, the offshore service market will grow by 4% in 2019, while shale stays flat. Companies servicing the subsea market and those working in the maintenance, modifications and operations (MMO) segments will reap the benefits. […]

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