UK/UKCS ///

Petrofac, Storegga team up for UK renewable energy development

Petrofac has signed a Memorandum of Understanding with independent clean energy champion, Storegga Geotechnologies. The agreement builds new energy capability and capacity in the UK and represents a significant strategic step in Petrofac’s continued expansion into new and renewable energy.

OGUK supports Energy Integration Project’s low-carbon ambitions

OGUK is also discussing a transformational sector deal with the UK government, which will also set out how the UK’s oil and gas industry will play its part in supporting a green recovery that attracts investment, jobs and supports the supply chain.

NEO Energy completes acquisition of UK North Sea assets from Total

The transaction consists of a material, cash generative portfolio of assets in four producing areas of the UK North Sea, with an average 2019 production of approximately 23,000 boepd and substantial development upside.

UK offshore unions say longer shifts increase coronavirus risk

North Sea oil workers are staying offshore for as long as three weeks at a time, potentially increasing the risks of an already dangerous operating environment, according to unions.

Real-time energy use figures show UK economy recovering from Covid-19 impact

Corporate energy consumption was down 40% at the peak of the Covid-19 crisis but the latest figures (to 21st July) are only 8% below the level they were just prior to lockdown. There has been a sharp rise in the past two weeks as restrictions have relaxed and more people have returned to work.

UK health leaders push back on oil sector’s request for blanket Covid testing

The UK oil and gas industry says blanket testing of its workers is essential to avoid Covid-19 outbreaks offshore, but the authorities have so far refused to provide the means to do so.

UK oil and gas industry welcomes job support, underlines need to remain focused on delivering successful transition

The leading representative body for the sector OGUK said that the UK faces a once-in-a-lifetime opportunity to deliver moves to a lower carbon and more diverse energy mix, reinforcing the importance of the sector deal currently being discussed with the UK Government.

Norway to tackle $100 billion P&A liabilities with new oilfield tech

North Sea nations and oil companies face costs of more than $100 billion to shut down old wells in the depleted region. Researchers in Norway believe they can cut that figure dramatically.

SeaFlo training programs expedite knowledge transfer, supporting offshore recovery

SeaFlo Consultancy Ltd has invested more than £250,000 to develop a new dynamic marine and subsea training capability supported by state-of-the-art mobile simulators.

Ampelmann secures five new offshore wind contracts in the North Sea

Ampelmann has secured five new contracts in offshore wind over the course of a month with Norwegian companies BOA, Volstad, Olympic Shipping, Siem Offshore and DOF.

UK oil and gas group pushes for inclusion in net-zero energy transition

OGUK recently set out industry commitments to halve operational emissions in the next decade, with a target of 90 percent reductions by 2040. The sector was one of the first to respond to the Committee on Climate Change report in May last year which called for governments to reach net zero emissions by 2050 in the UK and 2045 in Scotland, with its Roadmap 2035: a blueprint for net zero.

Scotland dedicates £62 million to leading the net-zero energy transition

The investment, with a focus on the North East, underpins the region’s ambitions to become a world leader in the transition to net zero, helping Scotland meet its ambitious targets on climate change.

Underperforming offshore wells rack up over $100 billion in abandonment liabilities worldwide

Aging offshore oil wells that once brought market prominence to Europe, the U.S. Gulf and Brazil are increasingly money losers that companies want shut down amid low oil prices and a struggling global economy. But the effort won’t be cheap.

Petrofac awarded significant North Sea well management contract

Petrofac’s Engineering & Production Services business (EPS) has secured a well management contract for Phase 1 of Independent Oil and Gas plc’s (IOG) Core Project.

Daily Brief podcast: A look ahead at the coming week in oil and gas, May 25-29

Key trends for the coming week, including how industry groups' response to low oil prices differ dramatically in the U.S. versus other producing nations, China's big plans for its economy, and investment analysts turning their backs on key sectors of the industry.

Archer Limited secures multi-well P&A contract for modular rig Archer Topaz in the UKCS

Archer announced a formal contract award for provision of a modular drilling unit and associated services by TAQA.

Daily Brief podcast: Strategies for navigating capital markets to outlast the downturn

Arindam Das discusses where energy sector companies must focus to meet capital markets' new expectations, both to survive the downturn and to act advantageously as stabilizing markets present new opportunities.

OGUK responds to oil price impact study published by economist and professor Alex Kemp

Responding to the findings of a new study published today by Professor Alex Kemp from the University of Aberdeen, which suggests a third of all available oil and gas in the North Sea could be left untouched if the price of Brent Crude remains at $25 a barrel,

Demand collapse puts 30,000 UK oil and gas jobs at risk

“The outlook is bleak compared to the picture of steady growth seen only two months ago, before the grip of the pandemic became clear,” industry trade body Oil & Gas UK said in a report published on Tuesday.

Total tallies new gas, condensates discovery in UK North Sea

Total and its partners have made an encouraging discovery with the Isabella 30/12d-11 well on the license P1820, located in the Central North Sea offshore U.K., about 40 kilometers south of the Elgin-Franklin Field and 170 kilometers east of Aberdeen.