Inform Prize Cegal magazine 2024 events 2024 events Inform prize
Latest news - Regional

Activists in 6 North Sea countries block access to oil infrastructure

Activists in 6 North Sea countries block access to oil infrastructure   Climate activists in six countries blocked access to North Sea oil infrastructure in a coordinated pan-European civil disobedience protest. Climate activists have been blocking oil and gas terminals, refineries, and ports in Germany, the Netherlands, Norway, and Sweden to protest the perpetual exploitation of North Sea fossil fuel deposits. As Denmark is also predicted to witness such protests, Scotland acti...

Shearwater to Monitor Production at Equinor’s Two Oil and Gas Fields

Shearwater to Monitor Production at Equinor’s Two Oil and Gas Fields   Shearwater GeoServices has secured two 4D monitoring projects from Equinor for the Mariner field in the UK North Sea and the Heidrun field in the Norwegian Sea offshore Norway. Shearwater will deploy its Isometrix technology for both surveys, applying 4D seismic monitoring to detect reservoir dynamics over time, for optimizing reservoir management and enhancing production efficiency. This will be the f...

HitecVision mulling strategic options for UK oil producer NEO Energy

HitecVision mulling strategic options for UK oil producer NEO Energy   The Norwegian private equity firm’s options could also include a merger with another operator. Norwegian private equity firm HitecVision is considering various strategic options, including a potential sale, for UK North Sea oil and gas producer NEO Energy, reported Bloomberg News. These options could also include a merger with another operator, sources familiar with the matter told the news agency. T...

Perenco Starts Gas Production in Southern North Sea

Perenco Starts Gas Production in Southern North Sea   Oil and gas company Perenco has started gas production from its C06 well, a near-field discovery within the Ravenspurn South area of the Southern North Sea. During the fourth quarter of 2023, the deviated well 42/30-C06 was drilled and completed with the Valaris-247 rig in 48-meter water depth, delivering an estimated reserve addition of around 20 Bcf to 40 Bcf from a previously undrilled block at the North-Eastern edge of the...

ECITB helping unemployed become ‘Work Ready’ for jobs in engineering construction industry

ECITB helping unemployed become ‘Work Ready’ for jobs in engineering construction industry   Almost 50 people, including many who have been long-term unemployed, have taken the first steps to securing a job in the engineering construction industry after beginning Trainee Maintenance Operative (TMO) Work Ready Programmes. Three cohorts started in the last two weeks in Hampshire, Pembrokeshire and Teesside and will gain recognised industry skills and accredited qualificat...

BP hands new CEO Murray Auchincloss £8 million after predecessor Looney's shock exit

BP hands new CEO Murray Auchincloss £8 million after predecessor Looney's shock exit   BP said it was “in our shareholders’ interest” to make him one of the top-paid bosses on the FTSE 100 The shock exit of former CEO Bernard Looney last year and accusations of “profiteering” have done little to bring about a change in the oil supermajor’s executive pay policy, as it handed new boss Murray Auchincloss £8 million last year. The...

Gazprom to sell North Sea assets

Gazprom to sell North Sea assets   Gazprom International Ltd. ILLC began a competitive process to sell its North Sea assets. The company has placed a call for bids on Gazprombank's e-trading platform. The company plans to sell its share of Wintershall Noordzee BV (WINZ), a 50-50 joint venture with its European partner Wintershall Dea, and 100% shares of Gazprom International UK Ltd., a subsidiary which holds 24% interest in the Sillimanite gas field development (OGJ Online, Dec...

Douglas Ross urges chancellor not to extend oil and gas windfall tax

Douglas Ross urges chancellor not to extend oil and gas windfall tax   Scottish Conservative leader Douglas Ross has spoken to the chancellor to argue against any extension of the windfall tax on oil and gas companies. Jeremy Hunt is thought to be planning to continue the levy until 2029 as part of Wednesday's Budget. Mr Ross told BBC Scotland's Podlitical podcast that he warned Mr Hunt that extending it would be the wrong decision. He said the move would not provide...

Spring Budget must boost energy investment and drive growth

Spring Budget must boost energy investment and drive growth    Amid fears the Spring Budget will extend taxes on North Sea energy producers and undermine investment, Offshore Energies UK is again urging the Chancellor and Shadow Chancellor to back a homegrown energy transition and drive economic growth across the nation. A homegrown energy transition means investing in domestic production not increasing energy imports. Offshore energy firms, their supply chain and workforc...

UK Set to Extend Oil & Gas Windfall Tax This Week

UK Set to Extend Oil & Gas Windfall Tax This Week   The UK windfall tax on energy firm profits is expected to be extended by another year to 2029 this week during the annual budget speech later this week, Reuters reported Monday, citing unnamed industry sources who had been privately briefed on the matter. The report comes shortly after crisis talks organized by oil and gas producers in the UK in late February, where they discussed the potential "hammer blow" impact o...

Norway Greenlights Oda Field Start-Up: A NOK 5.5 Billion North Sea Boost

Norway Greenlights Oda Field Start-Up: A NOK 5.5 Billion North Sea Boost   Norway's recent approval for the start-up of the Oda field in the North Sea marks a significant milestone in the country's energy sector, spearheaded by operator Spirit Energy, with operations expected to commence in February/March. This development, involving a hefty investment of NOK 5.5 billion, is poised to bolster oil and gas production, enhancing energy security and economic growth. The Oda field,...

Offshore flights suspended after fatal crash

Offshore flights suspended after fatal crash Some North Sea offshore helicopter flights have been suspended following a fatal crash off the coast of Norway. One person was killed and five others taken to hospital after the Sikorsky S-92, operated by Bristow for the Norwegian firm Equinor, ditched into the sea near Bergen on Wednesday. CHC Helicopters - which serves Equinor's UK operations - suspended all its flights using S-92s until early on Thursday afternoon. An investigation...

DeepOcean Gets Pipelines Inspection Job in North Sea

DeepOcean Gets Pipelines Inspection Job in North Sea   Ocean services provider DeepOcean has been awarded a contract by Equinor to deliver pipeline inspection and survey scopes on the operator’s pipelines in the North Sea. DeepOcean’s scope of work includes pipeline inspections, seabed mapping, and ad-hoc pipeline survey and light construction work. The agreement, whose value was not disclosed, is valid for 2024. In addition to its extensive infield pipeline networks...

McCrone Report: How Norway's oil fund works and why it's successful

McCrone Report: How Norway's oil fund works and why it's successful   In 1969, one of the largest offshore oilfields in the world was discovered off Norway and, suddenly, the country had a lot of product to sell. Norway did not waste this money - instead realising early on that the revenue generated should be used cautiously, unlike the UK Government as we detail in our McCrone Report series. In 1990, the Norwegian parliament passed legislation to create what is now kno...

Unite celebrates win for onshore oil and gas workers at St Fergus Gas plant

Unite celebrates win for onshore oil and gas workers at St Fergus Gas plant   Collective bargaining agreement secured for 100 contractors at Wood and Kaefer Unite, Scotland’s leading trade union for the oil and gas industry, has signed a new collective bargaining agreement involving contractors based at the St Fergus Gas plant near Peterhead. The union has negotiated a collective bargaining agreement involving around 100 contractors employed by the Wood Group and Kaefer at...

Oil and gas sector ‘lacks appeal to new entrants’ amid looming demand for workers

Oil and gas sector ‘lacks appeal to new entrants’ amid looming demand for workers   The oil and gas sector is at risk of failing to deliver the 28,000 skilled engineering construction workers needed by 2030 unless it better understands what motivates new entrants, according to a report out today. The Engineering Construction Industry Training Board’s (ECITB) career motivations study Inspiring Directions shows the sector is struggling to appeal to the general popul...

Sullom Voe oil terminal workers celebrate wage win

Sullom Voe oil terminal workers celebrate wage win Unite secures 9% wage increase backdated to April last year as part of three year deal   Unite the union can confirm today (20 February) that its Equans FM members working at Sullom Voe oil terminal in the Shetland Islands have accepted an improved wage offer.   Around 30 key workers overwhelmingly voted to accept a wage offer negotiated by Unite over three years. The terminal workers are now set to receive a nine per cent...

EnQuest seeking production boost from North Sea Kraken area

EnQuest seeking production boost from North Sea Kraken area   EnQuest expects to spend about $200 million this year on its E&P programs in the UK and off Peninsular Malaysia. LONDON — EnQuest expects to spend about $200 million this year on its E&P programs in the UK and off Peninsular Malaysia. The line-up includes two new wells in the second half of the year at the Magnus Field in the East Shetland Basin, following the five-yearly platform rig recertification,...

OEUK to hold crisis talks with industry over Labour’s new windfall tax proposals

OEUK to hold crisis talks with industry over Labour’s new windfall tax proposals   The leading representative body for the UK offshore energy industry will hold emergency summits with operator and supply chain members this week. Two meetings will take place in OEUK’s London and Aberdeen offices as the sector continues to express deep concern about Labour proposals to extend the windfall tax on UK oil and gas production if elected to government. OEUK warned earlier this...

The owner of British Gas faces criticism as its profits surged tenfold in just one year, reaching £750 million.

The owner of British Gas faces criticism as its profits surged tenfold in just one year, reaching £750 million.   This considerable spike, up from £72 million in 2022, is attributed to the regulatory body Ofgem raising the price cap, as stated by the supplier. The retail division of Centrica, predominantly represented by British Gas, saw its earnings soar to £799 million from £94 million the previous year. Centrica clarified that, in line with other energy p...
OGV
Wellpro
Cegal
Westerton Access
Stena