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BP starts oil output at offshore Thunder Horse expansion project

BP starts oil output at offshore Thunder Horse expansion project   Global oil major BP Plc said on Tuesday it had started oil and gas production at its Thunder Horse South II offshore expansion project in the U.S. Gulf of Mexico. The initial two wells will add up to 25,000 barrels per day (bpd) of oil and gas and up to 50,000 bpd through eight planned wells. BP holds a 75% stake with...

ICR celebrates 10 year anniversary as Norway growth continues

ICR celebrates 10 year anniversary as Norway growth continues   ICR Integrity (ICR), a leading global provider of specialist maintenance and integrity solutions with an operational hub in the Forus area of Stavanger, is celebrating continued growth in Norway on its 10 year anniversary as the team attends the MOD2021 conference.   The ICR Norway business, headed up by Johan Tønsberg as General Manager since 2019, has continued to grow from strength to strength. The team...

PGNiG Buys All Of Ineos Norwegian Assets At Almost Half-Price

PGNiG Buys All Of Ineos Norwegian Assets At Almost Half-Price   PGNiG Upstream Norway, a Norwegian subsidiary of Polish state-owned oil and gas company PGNiG, has just received approval from Norwegian authorities to acquire all assets of INEOS E&P Norge at almost half the price than previously agreed. Once the transaction is completed, PGNiG will acquire a portfolio of upstream assets set to meaningfully contribute to the delivery of its strategic objectives in natural gas pro...

New asset management deployment engine set to yield Industry 4.0 results

New asset management deployment engine set to yield Industry 4.0 results   A leading international asset management consultancy, service and software provider has unveiled a new asset management deployment engine and change management solution which embraces the post-pandemic challenges of “Industry 4.0.” After five years of development with industry and academia, Effio™ is Add Energy’s brand-new, cloud-based asset management data and strategy build, optimiz...

Oil tops $80 per barrel to reach three-year high as supply tightens and demand rises

Oil tops $80 per barrel to reach three-year high as supply tightens and demand rises   Oil prices continued to rise on Tuesday with Brent, the benchmark for more than half of the world’s crude, hitting a three-year high as demand eclipses supply and inventories are depleted. Brent climbed 0.88 per cent to $80.23 per barrel, its highest since 2018, at 7.57am UAE time on Tuesday. The benchmark is up about 55 per cent since the start of the year. West Texas Intermediate, the gau...

Scotland’s Oil Industry Is Fading as Wind Energy Beckons

Scotland’s Oil Industry Is Fading as Wind Energy Beckons   It’s easy to see how vital oil is to Aberdeen, a venerable port city on Scotland’s northeast coast. Step out the door of the small international airport and you are buffeted from across the road by the roar of helicopters ferrying crews back and forth to oil platforms scattered across the North Sea. Drive into the city and you’ll pass sprawling office parks with oil company logos, the home for some o...

The Next Generation of Decommissioning Technology

The Next Generation of Decommissioning Technology   An innovatively designed high pressure testing system is currently in production which will be used for the research and development of a transformative well plugging and abandonment technology. KW Designed Solutions, a bespoke manufacturer of high pressure testing equipment  was commissioned by Aberdeen based Clearwell Technology, a new disruptive oilfield technology provider. Both KW and Clearwell’s engineers have...

Bright Young Marketing Minds Challenged To Create Global Climate Change Campaign

Bright Young Marketing Minds Challenged To Create Global Climate Change Campaign   The brightest young minds from Scottish marketing and communications agencies have been challenged to create a global climate change campaign that will reach and inspire fellow 16 to 24-year-olds. The best campaign will be presented at the New York Times Climate Hub as part of the COP26 summit. Teams have been assembled from creative agencies including Outlaw Creative, BIG Partnership and Weber Sh...

AkerBP fast track the Frosk Field in the North Sea

AkerBP fast track the Frosk Field in the North Sea   Norwegian oil and gas company Aker BP has submitted a plan for development and operation (PDO) for the Frosk field located in the North Sea to the country’s Ministry of Petroleum and Energy (MPE), planning to fast-track the development to the first oil 18 months after the submission. Aker BP is the operator of the project and its licence partners are Vår Energi and Lundin Energy. The development will contribute to the...

Where Blockchain Technology Can Disrupt The Oil And Gas Industry

Where Blockchain Technology Can Disrupt The Oil And Gas Industry   What if someone figured out how to use blockchain technology to revolutionize the oil and gas industry? What would that look like, I wonder. It all started with an old friend of mine, now a senior official in the oil and gas industry, approached me after reading one of my recent Forbes articles on the blockchain. He mentioned how he was intrigued by my opinion into this emerging field but also felt it had tremendous...

Eni brings onstream another offshore Angolan oil field

Eni brings onstream another offshore Angolan oil field   Italian energy company Eni has commenced production from the Cabaça North project in the Eastern area of Block 15/06, deep offshore Angola. Production from the project has been achieved via the Armada Olombendo floating production storage and offloading (FPSO) vessel, which has a 100,000 barrels of oil per day (bopd) capacity. The Cabaça North project forms part of the East Hub Development Project, which also...

Rystad Energy: China set to splurge over US$120 billion on services and drill 118 000 wells through 2025

Rystad Energy: China set to splurge over US$120 billion on services and drill 118 000 wells through 2025   China is looking to pump up oil and gas production in the years ahead to meet climbing domestic demand and reduce the record-high share of imports in its oil consumption. A Rystad Energy report projects a surge in spending till 2025, which will be accompanied by a drilling spree totaling 118 000 wells that will create significant opportunities for suppliers. China’s nati...

Next generation of UK seafarers benefit from North Star Renewables’ sustainability initiative

Next generation of UK seafarers benefit from North Star Renewables’ sustainability initiative   North Star Renewables is set to donate more than £25,000 of spare shipping equipment to support the next generation of cadets, seafarers and fishermen in the UK as part of its new sustainability programme. As colleges across the UK returned to the classroom last week, students at South Shields Marine School in South Tyneside College have become the first to benefit from North...

Havfram Set to Order Installation Vessel for 20+ MW Offshore Wind Turbines

Havfram Set to Order Installation Vessel for 20+ MW Offshore Wind Turbines   Havfram is expected to place an order for a new wind turbine installation vessel (WTIV) in the next quarter of this year, the company revealed on 27 September as it announced a target of having a majority of its income coming from the renewable energy sector by the middle of this decade. The semi-submersible jack-up vessel will have a capability of installing next-generation wind turbines with a capacity...

Marcliffe date for AFBE-UK Scotland’s Diversity and Inclusion Awards

Marcliffe date for AFBE-UK Scotland’s Diversity and Inclusion Awards   Diversity and inclusion successes will finally be celebrated when the AFBE-UK Scotland Awards take place in the north-east of Scotland next month. Around 250 people are expected to attend the ceremony, which is due to take place at The Marcliffe Hotel and Spa, Aberdeen, on Thursday, October 21, 2021. Colette Cohen OBE, chief executive at the Net Zero Technology Centre, is to deliver the keynote speech....

Petrofac reaches plea agreement with UK's SFO

Petrofac reaches plea agreement with UK's SFO   Petrofac Limited has announced that it has reached a plea agreement with the UK Serious Fraud Office (SFO) in relation to its investigation into the company’s historical use of agents. Pursuant to this plea agreement, the company has today indicated guilty pleas to seven counts of failing to prevent former Petrofac group employees from offering or making payments to agents in relation to projects awarded between 2012 and 201...

Worldwide energy shortage shows up in surging coal, gas and oil prices

Worldwide energy shortage shows up in surging coal, gas and oil prices   Record gas and electricity prices in Europe, record coal prices in China, multiyear-high gas prices in the United States and oil prices well above their real long-term average are all manifestations of the same global energy shortage. In the aftermath of the coronavirus recession, energy production has failed to keep up with rapid growth in consumption as energy producers struggle to raise output while demand...

CMA probes Babcock's £10m sale of oil and gas helicopter business

CMA probes Babcock's £10m sale of oil and gas helicopter business   The UK’s competition watchdog is to probe defence and engineering giant Babcock International Group Plc’s £10m sale of its oil and gas aviation business. The Competition and Markets Authority (CMA) said it will assess whether the deal might cause a substantial lessening of competition in the UK. The sale saw helicopter services specialist CHC Group LLC acquire a business that ferries cre...

Fit for the future? It’s time the oil and gas industry had a tax health check

Fit for the future? It’s time the oil and gas industry had a tax health check By Jane O’Berg, Johnston Carmichael’s director of Global Mobility   To say that the oil and gas industry has had a lot to contend with over the past year would be putting it lightly.  With pressure mounting to align with the Paris climate agreement and unlock an affordable net-zero energy future, coupled with the logistical chaos and unpredictable trading conditions caused by co...

OGA RECOMMENDS DISCLOSURE of key environmental metrics to bolster the sector’s already strong reporting

OGA RECOMMENDS DISCLOSURE of key environmental metrics to bolster the sector’s already strong reporting By Vanessa Castillo, Senior Solicitor, Brodies LLP   The growing awareness of climate change and the need to respond, the increase in shareholder resolutions on environmental policies, the recent IPCC report, and the extreme weather events occurring around the globe, have placed companies under close scrutiny to report on how they are meeting their environmental, social and...
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