Exclusives

oil, gas, production, U.K., North Sea, Oil & Gas UK, Deirdre Michie

Oil and gas production on the U.K. Continental Shelf jumped 8.6 percent for the first 10 months of the year, compared to 2014.

Groningen kicked off a frenzy of exploration that ultimately resulted in the development of the North Sea. Nowadays it’s making news for a different reason.

UK, shale, gas, licensing, round, INEO, Oil & Gas Authority, Cuadrilla

The round received 95 applications from 47 companies as the oil and gas sector continues to cope with the prolonged downturn, depressed commodity prices and a supply-demand imbalance.

Shell, reorganize, upstream, Ben van Beurden, commodity, BG Group

Reorganization plans unveiled Nov. 3, as part of the company’s management day, include breaking its conventional oil and gas, unconventional resources and integrated gas units into three businesses.

BP, technology, outlook, production, cost

By applying certain technologies, BP believes proved oil and gas reserves could increase from 2.9 trillion barrels of oil equivalent to 4.8 trillion barrels.

Deepwater International

Norway’s Polarcus has been hired to conduct a 3-D marine seismic survey offshore Egypt.

Various subsea equipment will be delivered throughout 2015 and 2016.

GE Oil & Gas has invested more than $20.5 million across its subsea manufacturing facilities in Montrose, Scotland, in a move to enhance its business’s test and assembly and manufacturing capabilities.

Ceona has successfully installed a 570-mt multiple pipelay vertical lay system (VLS) and twin 400-mt cranes onto its next-generation flagship asset, the Ceona Amazon.

Kosmos Energy is taking a fresh look at a handful of new and existing exploration prospects in frontier waters offshore Ireland, according to partner Europa Oil & Gas.

Exploration

Petroceltic, which operates in Algeria, Egypt, Black Sea and the Kurdistan region of Iraq, said in December it hired bankers to conduct a strategic review, including a possible sale, Reuters said.

Last year saw a flurry of deals in Norway's biggest industry, with private equity investors buying up assets, betting on a recovery in crude prices, from energy firms happy to generate some cash.

Stephen Brunner, Petro River’s president, said past political and geological issues have rendered Larne the only truly untested carboniferous basin Europe. Larne is broadly similar to carboniferous-sourced East Irish Sea Basin.

The biggest winner was Statoil with 24 licenses, including 13 operatorships. Others to win operatorships include Lundin and Eni.

Roxi Petroleum’s Well 143 at its flagship asset BNG in Kazakhstan has flowed oil strongly since the start of 2016 and continues to flow well, the company said in a news release Jan. 13.

Production

The company expects to produce between 60,000 and 70,000 barrels of oil equivalents per day (boe/d) this year, which is about double the average rate achieved in 2015.

The referendum requested by some regional governments concerns a recently passed law stating that concessions already granted should last until the oilfield in question is depleted, Reuters said.

The well will test the Kvalross prospect, which has significant oil and gas resource potential within the Lower Triassic Klappmyss Formation clinoform reservoir, and the Kvaltann prospect.

Energean Oil & Gas has increased daily production by 60% last year in an effort to boost public finances. There are two oil fields offshore Thassos producing 3Mbbl/d, Reuters said.

Exploration well 7130/4-1 is the first well drilled in PL708. It was drilled to 3,160 m total depth in 288 m of water by the Transocean Arctic semisubmersible drilling unit.

Subsea Engineering

Ending a saga worthy of a James Joyce novel, Shell has finally brought the Corrib Field offshore Ireland onstream, more than 15 years after project consents were first issued.  

Wintershall is looking to boost oil and gas production from its core areas including Russia, Norway and the UK while also expanding activities in Argentina, new company chairman Mario Mehren told the World Gas Conference in Paris.

The threat of possible strike action continues to hang over the U.K. North Sea.

The latest international survey of the offshore oil and gas sector reminds the industry of some of its worst ills that have only been exacerbated by the current low-price environment.

The rampant cost inflation which U.K. North Sea producers have been battling against in recent years was starkly highlighted at an industry event in Aberdeen.

Technology

Restructuring includes closing two rolling mills in France, one threading line in Germany and a heat treatment line in Scotland, leading to about 1,000 additional job losses, Reuters reported.

BP has appointed Lamar McKay to the new position of deputy group chief executive and has named Bernard Looney as the new chief executive of BP’s upstream segment, the company said in a news release.

Michaela Huber is currently senior vice president for communications and sustainability. HSSE department will manage all of the oil and gas company’s global issues related to health, safety and environment.

BG will now merge with Shell on Feb. 15, nearly two decades after the company was born from British Gas and just a few months after it reached record oil and gas output thanks to new projects in Australia and Brazil.

Yan Liu resigned as CEO and Trinidad general manager, effective Jan. 31.  Lijun Xiu was appointed as Trinidad general manager, effective immediately. Currently, Xiu is the Trinidad deputy general manager.