North Sea Drilling Applications Reach High

Tuesday, June 20, 2006
Stv is reporting that the number of applications for companies applying to drill for oil in the north sea is at a 30 year high. Government ministers say fields are clearly not in their twilight years and so far it seems that oil companies have not been put off by recent tax rises. The north sea rigs and platforms are supplied by vessels which leave from Aberdeen's harbour, so this boom certainly seems to be good news for the industry and the local economy. The government licence companies to explore and drill certain blocks in the sea and applications for those licences are at a 30 year high - 147 applications from 121 companies. Technology developed in Aberdeen has developed innovative new ways of extracting oil and the energy minister has praised local firms and staff. The energy minister also said the north sea fields are clearly not in their twilight years. There had been concerns from the industry about the future because of recent tax increases from Chancellor Gordon Brown - the corporation tax rate on oil and gas was doubled to 20%. The Department of Trade and Industry say despite the windfall tax there is clearly still interest in the industry, but political opponents say it is hardly surprising considering oil is selling at the high price of $70 a barrel. Source: STV

Maritime Today


The Maritime Industry's original and most viewed E-News Service

Maritime Reporter July 2016 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

People & Company News

Swiber Applies for Judicial Management Instead of Liquidation

Singapore oilfield services company Swiber Holdings Ltd said on Friday it has applied to place itself under judicial management instead of liquidation.   Swiber

Cenac Marine to Christen New Vessel, Donate Barge

A ceremony will be held July 29 at Cenac Marine Services headquarters in, Houma, La. To commemorate the christening of its newest vessel, M/V Quincey Cenac, as

Concordia Maritime Posts Q2 Profit

Facing a “gradually deteriorating market,” Sweden based tanker shipping company Concordia Maritime said it was able to post a profit in Q2 2016 based on high vessel

Offshore

Swiber Applies for Judicial Management Instead of Liquidation

Singapore oilfield services company Swiber Holdings Ltd said on Friday it has applied to place itself under judicial management instead of liquidation.   Swiber

US Oil Drillers Add Rigs for 5th Week in a Row

U.S. drillers this week added oil rigs for a fifth consecutive week, Baker Hughes Inc said on Friday, but the oilfield services provider and some analysts cast

Det Norske to Restore Production at Alvheim after Leak

Norwegian oil firm Det norske said it expected to reach full production at its Alvheim FPSO (floating storage, offloading and producing unit) overnight after a leak,

 
 
Maritime Security Offshore Oil Pipelines Pod Propulsion Salvage Ship Electronics Ship Repair Shipbuilding / Vessel Construction Sonar Winch
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: 0.0939 sec (11 req/sec)