UK North Sea Activity Report

By Marine Technology Reporter
Friday, March 07, 2014

2013 sees 44% rise in North Sea fields starting production but 28% drop in exploration and appraisal drilling

The number of fields which began producing oil and gas in the U.K. hit its highest level for five years in 2013, as a number of operators focused on development activity. This is according to the latest report into offshore activity from Deloitte, the business advisory firm. The report, detailing activity across North West Europe over the last 12 months and compiled by Deloitte’s Petroleum Services Group (PSG), found the number of U.K. fields which started production rose by 44% in 2013 (up from nine in 2012 to 13 in 2013). This figure represents the highest number since 2008, when 16 fields were brought on-stream.

Of the 13 fields brought on-stream last year, 84% were eligible for tax allowances, pointing to a positive industry reaction to the government incentives in place. However, a total of only 47 exploration and appraisal wells were drilled on the U.K. Continental Shelf (UKCS) in 2013, compared with 65 in 2012 – a decrease of 28%. During the same period, the Norwegian Continental Shelf (NCS) saw a 41% increase in drilling activity.

Graham Sadler, managing director of Deloitte’s PSG, said that more needed to be done to encourage drilling on the UKCS, including incentives for exploration activity. “The North Sea industry is complex, and companies operating in there have to consider many factors. Despite the high oil price, margins are tight and the drop in drilling during 2013 most likely reflects the increased costs of operating. Staff costs remain high and access to equipment such as rigs, which are limited in number, drives prices upwards."

Sadler continued, “Nevertheless, we are seeing evidence that government incentives are helping to stimulate field developments - even historic discoveries - with Chevron’s recent announcement that it will start work on the Alder field, which was discovered in the 1970s.

(As published in the March 2014 edition of Marine Technology Reporter - www.seadiscovery.com)


Energy

ABS Makes it Safer to ‘Walk to Work’

ABS announced the publication of The ABS Guide for Certification of Offshore Access Gangways. The new Guide addresses certification for safety systems used for “walk to work” (W2W) crew transfers.

Viking Grace Marks 1,000 LNG Bunkering Milestone

From the very beginning, the M/S Viking Grace – delivered in January 2013 – was an environmental milestone.   The vessel attracted global attention as an environmental

Hellenic Petroleum Profits Rise on Higher Exports

Hellenic Petroleum, Greece's biggest oil refiner, posted a 20 percent rise in second-quarter core profit on Thursday, with higher exports offseting lower refining margins.

News

White House: Iranian Ships' Actions in Gulf Increase Risk of Miscalculation

Actions by Iranian vessels in several encounters with U.S. warships in the Gulf this week are cause for concern and increase risks of miscalculation, the White House said on Friday.

Rickmers Holding, E.R. Capital Drop Merger Plan

Rickmers Holding AG and E.R. Capital Holding have jointly decided not to pursue the merger of their ship management activities.   For many years the companies

C-Job Designs Flettner Freighter for Switijnk

The Dutch shipping company family Switijnk has contracted C-Job Naval Architects to develop a Rotor Sail-equipped design to meet their specific loading and sailing profile.

Offshore Energy

Heavy Lifting: Giant Pipe Racks Shipped for New FPSO

From Brazil to China and then back to Brazil, five pipe racks and three modules weighing a total of 1,871.51 metric tons and measuring 24,075 m³ will be transported

US Offshore Lease Sale Yields $18 Mln in High Bids

Today’s U.S. oil and gas Lease Sale 248 garnered $18,067,020 in high bids for 24 tracts covering 138,240 acres in the Western Gulf of Mexico Planning Area, announced

Canada May Ask Far-offshore Drillers to Pay Extra

Canada may ask oil companies to contribute to the hundreds of millions of dollars or more the country has to pay to an international body if they drill far offshore,

 
 
Maritime Careers / Shipboard Positions Naval Architecture Navigation Offshore Oil Pod Propulsion Port Authority Salvage Ship Electronics Ship Repair Ship Simulators
rss | archive | history | articles | privacy | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.0921 sec (11 req/sec)