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OGV Energy's US Energy Overview - The U-Turn in US Energy Policy

OGV Energy's US Energy Overview - The U-Turn in US Energy Policy   At the start of 2021, the US oil and gas industry is cautiously optimistic amid rising oil prices and apprehensive about the marked shift in the new US Administration’s energy policies. Operators and oilfield services providers are more optimistic about the industry’s prospects than they were six month...

Subsea Industry Cautiously Optimistic for 2021

Subsea Industry Cautiously Optimistic for 2021   The turbulent year 2020 upended the plans of exploration and production (E&P) companies which hastened to cut capital expenditures and defer or even cancel offshore drilling contracts amid the coronavirus pandemic and the crash in oil prices. The supply chain throughout the world, including in the UK North Sea, felt the impact of the reduced capex. Some areas of the UK supply chain, such as drilling and wells contractors and the...

The blue economy and its ocean of opportunities

The blue economy and its ocean of opportunities   The new year and beyond will not be without challenges. Indeed 2021 has not had the most auspicious start but, with the vaccine roll-out, we will start to recover this year and must take an optimistic, positive, and forward-thinking approach to the opportunities which lie ahead and what the future holds for the subsea industry. For much of our industry, that future will be blue – in a good way. As the blue economy increasin...

Subsea Superintendent - Derek Dargie

Subsea Superintendent - Derek Dargie   How did you get into the Energy Sector and how long have you been working in it? I commenced my career in the oil industry in 1984 as a welder which involved being on a project on the Sedco 704. I then moved onto Vetco Gray after a few years within fabrication. I subsequently progressed to become a Field Service Engineer, on Surface and Subsea equipment installation. After a few years’ rotation (28 x 28) I was 3 years residential in Ango...

OGV Energy's Middle East Energy Review

OGV Energy's Middle East Energy Review   The highly-anticipated OPEC+ monthly ministerial meeting, numerous contracts, new oil and gas discoveries, and a pledge for emissions reduction from a major petroleum company were the biggest themes in Middle East oil and gas at the end of 2020 and the start of 2021. OPEC+ moves to tighten oil market The ministerial meeting of the OPEC+ group decided on 5 January not to raise collective oil output by another 500,000 barrels per day (b...

“The View from Down Under” Australia Energy Review – February 2021

“The View from Down Under” Australia Energy Review – February 2021   Early New Year is traditionally a quiet time in these parts as folk take their well-earned summer breaks, after the usual slow start in January people are now drifting back to work and the buzz in the Central Business District in Perth returns to near normal. With just 1 rig active off the ANZ coasts at the moment it is expected that by end Q2 this year the active count will have risen to 6, with...

Mexico Exploration and Production – February 2021

Mexico Exploration and Production – February 2021   The Energy Reform saw over 100 licences assigned between 2015-2018 with 73 companies participating through various licencing awards in exploration, appraisal, field development and producing acreage onshore and offshore Mexico. Exploration success kicked off in 2017 with the Zama discovery (2C: 670MMBOE) followed by Cholula (2P:78MMBBLS), Xaxamani 2 (2P: 35MMBBLS), Saasken (STOIIP: 200-300MMBBLS), Chinwol(2P: 123MMBOE) and P...

US Energy Overview - Industry outlook improves as prices rise

US Energy Overview - Industry outlook improves as prices rise   Cautious optimism returned to the US oil and gas industry at the end of 2020 and the beginning of 2021, as oil prices rallied in the wake of good news about vaccine developments. US oil and gas activity picked up from the lows seen in the spring of 2020, when operators curtailed as much as 2.5 million barrels per day (bpd) of oil production in response to the crash in oil prices. The outlook of oil and gas firms improv...

OGV Energy's UK North Sea Energy Review – February 2021

OGV Energy's UK North Sea Energy Review – February 2021   The impact of Brexit, the road to net zero, expectations for 2021, and company updates on field developments marked the end of 2020 and the beginning of 2021 in the UK oil and gas industry. The Oil & Gas Authority submitted to Parliament in December a revised strategy featuring a range of new net-zero obligations for the UK oil and gas industry. The new strategy requires industry to operate in a way consistent...

Solutions FOR complex handling, lifting & rigging challenges!

Solutions FOR complex handling, lifting & rigging challenges!   Despite the backdrop of a challenging business environment Safelift Offshore have continued to invest in the expansion of the company’s Design & Engineering resources, which complement & enhance their proven manufacturing expertise developed over 25 years in business. Perhaps, at this time more than ever due to reduced manning levels & diminished industry knowledge, Safelift Offshore are supportin...

Survivex and AIS Training see uplift in demand for onboard rigging and lifting training

Survivex and AIS Training see uplift in demand for onboard rigging and lifting training   Rigging and Lifting training has always been a core part of Survivex and AIS Training’s centre portfolios but during COVID-19 there has also been a surge in demand for onboard training in these skills. With two state-of-the art rigging and lifting training facilities, a comprehensive offering of accredited and bespoke rigging and lifting courses and more than 75,000 delegates training an...

Monitoring wire ropes for safe lifting

Monitoring wire ropes for safe lifting   Magnetic Rope Testing (MRT) plays a vital role in improving rigging and lifting safety in the offshore energy sector, says Ben Dobbs, Head of Technical Services at LEEA (Lifting Equipment Engineers Association). Wherever you look, the Covid-19 pandemic has given rise to new ways of doing things. While restrictions imposed to counter the virus caused massive disruption, in most instances lifting has continued throughout the Coronavirus outbre...

Asset Maintenance & Engineering: expert support to lifting equipment

Asset Maintenance & Engineering: expert support to lifting equipment   Combining Maritime Development’s innovative approach to tackling offshore challenges with technical expertise and a transparent approach, MDL Asset Maintenance & Engineering (AME) is the new alternative for cost-conscious maintenance of cranes and other lifting equipment. In the lifting world, MDL is best known for market-leading technology for flexible and rigid pipe handling. The company’s...

Legal and Finance: Time for the bubble to burst?

Legal and Finance: Time for the bubble to burst?   It has long been considered that the oil and gas industry in the UK operates in somewhat of a bubble. The industry is treated differently for taxation from other manufacturing and production related sectors and to those outwith the industry, oil and gas contracting and commercial structures are alien and unclear. Equally, within the global oil and gas market the UK exists in an operating bubble. Historic economic analysis has highl...

US Energy Overview January 2021 - What’s Next After the 2020 Crisis?

US Energy Overview January 2021 - What’s Next After the 2020 Crisis?   The US oil and gas industry welcomed 2020 with crude oil production soaring to record highs and oil prices at $60 per barrel, allowing most shale producers to turn in profits from drilling new wells. Then came the COVID-19 pandemic, with oil demand and prices plunging, and upended all forecasts and plans of every oil company in the world. The U.S. industry reacted quickly to preserve much-needed cash in...

OGV Energy's Europe Energy Review January 2021

OGV Energy's Europe Energy Review January 2021   The UK’s ten-point plan for a green industrial revolution, increased emission reduction targets from the UK and the European Union, green energy opportunities, and more pledges for net-zero emissions from companies and organisations were the highlights of Europe’s energy landscape at the end of 2020. Some oil and gas companies operating in Europe continued to develop resources and award contracts and others struck agr...

Australia Energy Review January 2021 - “The View from Down Under”

Australia Energy Review January 2021 - “The View from Down Under”   The Australian Government announced early in December that after consideration they will decommission the Northern Endeavour floating production storage in the Timor Sea and offtake facility and carry out remediation of the associated oil fields. In reaching this decision, the Government examined various options, and found decommissioning to be the most cost-effective and safest option for the facility...

Middle east Energy Review January 2021

Middle east Energy Review January 2021   December was a busy month for oil and gas producers in the Middle East. The major oil-producing nations in the region, which are also the most influential members of OPEC, had to decide how to proceed with their oil supply policy in 2021, in light of the still weak global demand. At the same time, large state oil companies in the Middle East awarded major contracts and signed strategic agreements. OPEC+ Reaches compromise agreement on oil su...

Rigging & Lifting: Equipment and Service Providers Brace for Another Year of Uncertainty

Rigging & Lifting: Equipment and Service Providers Brace for Another Year of Uncertainty   Over the past months, providers of equipment and services for the oil and gas industry, including lifting and rigging, have had to cope with the twin challenge of the Coronavirus pandemic and the crash in oil prices that plunged the oil and gas industry in the second downturn in less than five years. The pandemic-driven collapse in oil and gas demand and prices crushed profits and profit...

OGV Energy's UK North Sea Energy Review – January 2021

OGV Energy's UK North Sea Energy Review – January 2021   The timeline for the long-awaited North Sea Transition Deal, the UK’s Ten Point Plan for a Green Industrial Revolution, annual reports and surveys from industry, new field start-ups, and corporate contracts marked the past month in the UK North Sea oil and gas. The UK’s Prime Minister Boris Johnson unveiled in November the government’s Ten Point Plan for a Green Industrial Revolution, expected to m...
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