Robin Allan told delegates at SPE Offshore Europe 2015 that it is easier to do business in Vietnam than in the U.K. where costs must come down further.
Speaking during SPE Offshore Europe 2015 in Aberdeen, Proserv CEO David Lamont said the North Sea has many years of profitable life ahead of it if the industry quickly adopts more collaborative and efficient business practices.
Speakers encouraged the industry to make an effort to help others understand the sector and set its own agenda, rather than have others set the agenda, and engage more with younger generations.
The move, which became effective immediately, gives the U.K. officials the authority approve, or deny, shale exploration permits.
The Italian major posted a 10.7% rise in output in the second quarter.
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.
Gas flowed from the well at a rate of 4.32 MMcf/d on a 16/64-in. choke from a 41.3 meter interval in the Rotliegend sandstone, FX Energy said in a news release.
Experts say southern deposits, at depths between 4,000 m and 8,000 m, could hold 500 million tonnes of oil reserves, while northern deposits could hold 70 million tonnes, Reuters said.
KMG, which holds 16.81 percent in the offshore field, hopes to close the deal in November.
GCDT fits fully into Prysmian’s expansion strategy in subsea umbilicals, risers and flowlines and complements its product range. The portfolio of protectors will be enhanced, the company added.
Zohr is Eni's fifth major oil and gas discovery in just three years giving it the best track record in reserve replacement as well as one of the lowest cost bases.
The B8 field is estimated to have about 3.5 million tonnes of oil where Lotos has said it plans to produce ultimately some 250,000 tonnes, Reuters said.
The Netherlands’ government has twice this year cut production from Europe’s largest gas field due to public safety concerns about production-linked earthquakes, Reuters said. Opposition parties submitted the motion.
The aim of the joint industry project is to investigate and understand the forces induced by multiphase flow on piping systems, and generate validation data for multiphase computational fluid dynamics (CFD) to model and analyze its occurrence, according to a news release.
The oil and gas producer, whose primary assets are in Norway, narrowed its 2015 production forecast to 9,000boe/d to 10,000boe/d, Reuters said.
Falling output at the main Azeri, Chirag and Guneshli oil fields, operated by BP, has been a cause of concern in Baku, Azerbaijan, Reuters said.
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.
The UK government has finally unveiled a package of measures to help the country’s ailing offshore industry which it says will encourage more than £4bn of additional investment over the next five years.
Alison-Madueke was minister from 2010 until May 2015 under former president Goodluck Jonathan, who was defeated by Muhammadu Buhari at the polls in March.
According to an internal document seen by Reuters, the cuts form part of Repsol’s 2016 to 2020 strategic plan. Cuts will be made over the next three years.
CLH is the leading company in Spain for oil product transportation and storage and is one of the largest private companies in its sector internationally.
The conference has been already postponed four times, including the current delay, because of uncertainty over sanctions and as Iranian officials are still working on the model for new contracts.
Total said it would reduce capital expenditure to between $20 billion and $21 billion from 2016 and to $17-19 billion per year from 2017 onwards. That compares with $23-24 billion in 2015 and a peak of $28 billion in 2013.