Sunday, February 16, 2020

Oil And Gas Authority News

UKCS Mediation Pilot Launched

Image: Oil and Gas Authority

UK oil and gas industry regulator Oil and Gas Authority (OGA) has revealed that it has launched a year-long UK Continental Shelf (UKCS) “mediation pilot”.According to the OGA, the pilot aims to test the extent to which mediation can resolve certain disputes between oil and gas licensees…

UK Readies Carbon Storage Road-map

Image: Oil and Gas Technology Centre (OGTC)

Heriot-Watt University researchers are to map out the UK’s best sites for carbon capture by studying the geology of depleted gas fields in the North Sea.The team led by Professor John Underhill will use data from industry regulator the Oil and Gas Authority's (OGA) National Data Repository (NDR)…

Gulf Marine CEO Quits in wake of Profit Warning

A Gulf Marine Services Jack Up unit (CREDIT: GMS)

Gulf Marine Services said on Wednesday Chief Executive Officer Duncan Anderson has resigned as the oilfield industry contractor warned a reassessment of its ships and contracts showed profit would fall this year, kicking its shares 12% down.The Abu…

UK Plans to Boost Drilling

The Oil and Gas Authority (OGA), UK has published for the first time a Wells Strategy which provides a framework of how the OGA and industry will work together to deliver increased activity and improve performance.The OGA’s Wells Insights Report sets…

From KPMG: Visions of Cheese

Geoff Jacobs (Photo: KPMG)

Whilst we are seeing a clear uptick in activity and the UK oil and gas industry is certainly on the way up again, the industry must continue to move forward. However, under current market conditions, how can companies capitalize on change whilst remaining stable and sustainable and…

Bahrain LNG Terminal to Start Commercial Operations in May

Photo courtesy of Bahrain

Bahrain's liquefied natural gas (LNG) terminal will start commercial operations in May, with the first LNG shipment to be imported mostly from the UAE's ADNOC, state media quoted the CEO of Bahrain’s National Oil and Gas Authority (NOGA) as saying.Bahrain LNG is the developer of the receiving and regasificati

British Oil, Gas Output Rose 4% Last Year

© Lukasz Z / Adobe Stock

British oil and gas production rose 4 percent to 1.7 million barrels of oil equivalent per day in 2018 compared with the previous year, according to the Oil and Gas Authority, an industry regulator."The Oil and Gas Authority (OGA) now projects total cumulative UK hydrocarbon production from 2016 to 2050 to be

Glengorm Discovery Highlights UKCS Potential

Topsides being installed in 2018 at the Culzean field (Photo: Total)

CNOOC announced Tuesday it has made a significant discovery on the Glengorm prospect, located in the Central North Sea of the U.K. continental shelf (UKCS), with recoverable resources estimated at close to 250 million barrels of oil equivalent.The exploration…

UK Decommissioning Tax Relief Estimate in Question

© Alan Smillie / Adobe Stock

Britain's public spending watchdog on Friday questioned a government estimate of 24 billion pounds ($31 billion) as the cost of tax relief to decommission oil and gas infrastructure.As one of the oldest and most mature oil basins, Britain's North Sea represents the world's biggest decommissioning project…

Bahrain's First LNG Terminal Ready for Business

Bahrain expected to start LNG imports early this year; FSU on 20-year time charter to Bahrain LNG arrives in the GulfBahrain's first liquefied natural gas (LNG) floating unit arrived in the Gulf this week as the country gets ready for its maiden imports of the super-chilled fuel this year…

UK Opens National Decommissioning Center

Image: University of Aberdeen

The National Decommissioning Centre (NDC) is opened by Lord Duncan, UK Government Minister for Scotland and Paul Wheelhouse MSP, Scottish Energy Minister, in Newburgh, in North-East Scotland’s Energetica Corridor.The Centre aims to work in partnership…

Bahrain, ENI Join Forces for Offshore Exploration

Image: National Oil and Gas Authority of the Kingdom of Bahrain

National Oil and Gas Authority of the Kingdom of Bahrain (NOGA) and ENI signed a Memorandum of Understanding (MoU) to pursue petroleum exploration of Block 1, an offshore area of over 2,800 sqkm still largely unexplored, located in the northern territorial…

Chrysaor Sets Sights on Chevron's North Sea Assets

Captain in the U.K. North Sea (Photo: Chevron)

Private equity-backed oil firm Chrysaor has hired advisers ahead of talks to buy Chevron's British North Sea oil and gas fields for over $2.5 billion, industry and banking sources said.Chrysaor has signed up investment banks Jefferies and BMO for the…

Chevron Gets Green Light for Captain EOR

Captain (Photo: Chevron)

Energy giant Chevron announced Tuesday it has received approval from the U.K. Oil and Gas Authority (OGA) to move ahead with its plans for an Enhanced Oil Recovery (EOR) project that aims to unlock millions of extra barrels of oil and extend the life of the long-producing Captain field in the U.K.

Big Oil Digs North Sea's 'Final Frontier'

Clair Ridge (Photo: BP)

"Little hope of THIS rock ever producing oil," BP geologist Bill Senior scribbled in 1977 on a note assessing a recent oil discovery in a distant corner of the North Sea.That same rock is today the heart of BP's prized Clair field in the West of Shetland region…

Ineos Completes Clipper South Re-routing Project

Image: Ineos

UK-based oil products company Ineos Oil and Gas UK has completed a project to re-route production from its Clipper South field via the Shell operated Clipper field into the Bacton processing terminal.According to a company release, the USD 80 mln investment…

Corallian Energy on Course for Wick Exploration Well in December

Image: Ensco plc

UK-based Corallian Energy has revealed that the UK Government had looked favourably upon its plans for two offshore exploration wells.The Offshore Petroleum Regulator for Environment and Decommissioning, which sits within the Department for Business…

UK: Enough Oil and Gas Reserves for the Next 20 Years

Image: Equinor

The UK has enough oil reserves to sustain production for the next 20 years and beyond, new figures indicate.A report published by the UK Government suggests that the overall remaining recoverable reserves and resources in the North Sea range from 10…

UK Petroleum Reserves Could Sustain Production for 20 Years

© Lukasz Z / Adobe Stock

The U.K.’s oil and gas reserves remain at a level which could sustain production for at least the next 20 years and beyond if additional undeveloped resources can be matured, according to the U.K. Oil and Gas Authority (OGA).OGA’s ‘UK Oil and Gas: Reserves and Resources’ report…

Bahrain's Oil Company Targets $1 Bln Through Dual-tranche Bond

Shaikh Mohamed bin Khalifa bin Ahmed Al Khalifa, Chairman (Photo: Nogaholding)

Bahrain's state-owned oil company Nogaholding plans to raise $1 billion through a dual-tranche U.S.